I would go used personally, unless you absolutely need that new car smell. Just be sure to take it to a ford dealership and have its history brought up. I bought my 98 cobra used from a chevy dearership in 2000. It belonged to one of the salesmen. when i test drove it there was a grinding sound in the rear. I asked him what it was and he said it made that noise when he drove it off the showroom floor. So I took it to to Ford and found out that dumb*ss was involved in 3 wrecks in the thing, and the noise in the rear end was from him riding up on a curb which caused metal shavings to shear off of the gears. I went back to the dealership and talked to the general manager and told him I didn't appreciate his salesmen trying to scam me. I went home and the GM had left a message on the machine with a new offer on the cobra, and also agreed it would be in top form. I ended up buying it and it hasn't given me any problems (well, unless you consider people constantly trying to smoke you in the blvd a problem). I would go either way, just if it's used be SURE to take it to a Ford dealership and have it checked out.
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98 cobra: 95 cobra R hood (thanks Jiffy-Lube), steeda stage 1 suspension, 10.5" cobra R rims, K&N, soon to be 3.73's and flowmasters
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