Milage and resale value

SD5805 · #1 (**permalink**) 07-02-2007, 02:31 PM

Hey guys, Question????

how much do you think Milage effects the resale of the Cobra, especialy companies like: Superformance, BDR, Unique, ERAS, Kirkham etc.

I see so many cars listed for sale on Cobra Country with very little milage. And, as any owner knows, it takes some milage to really breakin in the roller/car and the engine.

Knowing what I know now, I'm not sure I would buy something with so little miles. It had not a chance to get out any of the bugs.

Let me know what you guys think on this.

Randy H · #2 (**permalink**) 07-02-2007, 09:39 PM

How much does mileage effect resale value? I've asked myself this same question. The unfortunate answer is to much. I think it boils down to #1 the overall car/mechanical experience of the potential buyer and #2 what he/she intends to do with the car. I do agree that since I now own one, I would not hesitate or would actually prefer to buy a car with oh...say...5-12,000 mile range. there's a lot to be said for one of these cars that has been dialed in. However, this "dialing" in time frame usually includes a few minor rock chips here and there. I guess if the buyer wants a "show" car then mileage and perfect paint is more important than a bug free driving experience.

Having said all of this I"ve only got app. 1,100 miles in a year!

(Starting a new business has limited my time.)

Bottom line for me is drive them, show them, enjoy them!! and when I sell it, someone will get a very nice car with most likely very few problems at a good price that they can drive, show and enjoy.

Excaliber · #3 (**permalink**) 07-02-2007, 09:52 PM

SD5805, your onto something about those ultra low mileage cars, I'll pass! The ONLY way to work out the bugs is to put at least a couple of thousand miles on them. THATS the car I would be looking at if I was buying.

Ron61 · #4 (**permalink**) 07-03-2007, 04:36 AM

I agree that unless you are looking for a show car, some miles on the car are important. My coupe had just over 4K on it and there were several things that showed up which the owner was kind enough to have fixed for me. Any newly build kit is going to most likely have some problems, slight or major, within the first 5K miles. Plus when you look at the ads you really don't know just how much experience the owner had when they built it and how well it is put together. At least try to see the car physically and ask questions.

Ron

SD5805 · #5 (**permalink**) 07-05-2007, 06:06 AM

This is so true. I know of one who built a car from the ground up. It is an astecally pretty car, but the person can not even drive it around the block yet to any great extent. Imagine buying this car. It wins shows being trailered to it, but how fun is that.

The kit brand and owner is purposly not being named out of respect.

SD5805 · #6 (**permalink**) 07-05-2007, 06:07 AM

I love Randy H's statement as well.

Bottom line for me is drive them, show them, enjoy them!! and when I sell it, someone will get a very nice car with most likely very few problems at a good price that they can drive, show and enjoy.

mjmacqua · #7 (**permalink**) 07-05-2007, 07:26 AM

I have to admit, I bought mine this year. I was looking for something with Low miles, thinking that was the way to go. If I would have only bought this one with a few more, it would have been a different story.

The car had 1800 or so miles on it. Looked great, sounded great, ran great...Then bang less than 200 miles later the cam roller blew up and went through the block. I do not blame the guy I bought it from, there is no way he could have know that was coming unles he tore down the motor, pulled the cam and saw that one was going. (if he did that and didnt replace it, well you get the pic). Now I am about a week away from finishing the rebuild (did it my way). Oh and buy the way I have been about a week away now for, i dont know maybe 3 weeks...

If I had to do it all over again, I would buy something with more miles, get a better deal, and have a car broken in better... Unfortunately I didnt, now I have a car that I paid good money for, is sitting for half the season, dumped a boat load of additional money into, will never get back, and cant wait to start driving (priceless!!)

So yeah, the mileage thing effects the price way too much...

Excaliber · #8 (**permalink**) 07-05-2007, 09:48 AM

The problem is these cars are not from a manufacturer like GM or Ford etc. Those cars are tested over and over before production and come with a warranty, and even then the BIG guys don't always get it right.

Yet there are plenty of buyers who prefer a brand new car (low to zero miles) and won't buy anything else. Good? Bad? Well thats marketing, different strokes and all that. A more educated buyer understands the need for a replica with a few miles under it's belt. I suspect there are more available 'newbies' looking for a low to zero mile cars than there are 'educated' buyers looking for a car thats had the bugs worked out. This hypothesis may be supported when you consider one of the fastest selling replicas on todays market, the BDR. Decent 'entry level' price combined with a manufacturer offering only a 'roller' leads one to conclude it is a 'solid' car that won't be a problem. There are far less variables than say an FFR or many other potentially 'home built' replicas. There is some logic to such a purchase and the main reason SPF's retain good value, also a 'roller' only type of car.

Disclaimer:
I am NOT a fan of BDR or SPF, personally I wouldn't want either one for various reasons, which could be a whole thread by itself. I'm just recognizing a great marketing plan aimed at the MASSES; flood the market with a low cost alternative that all but ignores the 'soul' of a real Cobra. There are other manufacturers that follow this theme as well, with great financial success while lowering the standards of what I feel a well designed replica Cobra should be, but hey, thats just me.

A friend of mine recently bought a used SPF Coupe, with a couple of thousand miles miles on it. Even then he has to work out a few 'bugs', some of them serious. Same can be said of the BDR (and others), there WILL be bugs to work out, some can be down right serious.

The SPF owner made an interesting observation, the SPF Coupe when compared to say a modern GM or Ford type product, falls far short of what would be acceptable build quality. Fit, finish, wiring and a other details are 'below grade' in such a comparison. Engine and trans installation, all though done by a professional builder, still fall 'below grade' in such a comparison. It should be noted the newer SPF Coupes (after # 100 or so) have substantial changes in their layout, design and build to address the areas that were sub par (if thats the correct terminology to use). Kirkham, ERA and others are constantly improving their cars. Compare that to a few hundred builds (if that) to Fords millions of builds and the problem comes into focus.

This is not knocking any particular brand it's just a reality check. You cannot buy a replica that will equal the build quality\warranty of a modern Big 3 type of car. You can limit the variables perhaps, but it's still a roll of the dice on any given replica purchase.

Solution? Buy a replica with enough miles under it's belt to have gotten MOST of the major bugs out and be prepared to deal with the rest. "Road Tested" for me!

This thread should be moved to "All Cobra Talk" in my opinion, it is an important topic and deserves a higher rating than the lounge.

Jamo · #9 (**permalink**) 07-05-2007, 10:12 AM

So moved...

Tony Aprile · #10 (**permalink**) 07-05-2007, 11:52 AM

Quote:

Originally Posted by Excaliber

Disclaimer:
I am NOT a fan of BDR or SPF, personally I wouldn't want either one for various reasons, which could be a whole thread by itself.

There are other manufacturers that follow this theme as well, with great financial success while lowering the standards of what I feel a well designed replica Cobra should be, but hey, thats just me.

Does Excaliber come to mind.....

RNT · #11 (**permalink**) 07-05-2007, 03:14 PM

It's true that SPF's don't match the quality of the Big Three. The quality is closer to Lexus quality. And, I might add, better looking and better designed than the original. No matter what make Cobra you have, unless it is original, it is still a fake. Enjoy what you have.

Durt · #12 (**permalink**) 07-05-2007, 03:57 PM

I think the old addage that a car is worth what someone is willing to pay for it is appropos for Cobra replicas. Mine is coming up on 10 years and 20,000 miles, but I've had three engines in it - the stroker only has about 10K worth.
When I first bought it, I agonized over keeping it pristine and showroom fresh - but as the years passed & the stone chips accumulated, I decided to let it age as one would have let a real one age 40 years ago.
I ran into Lynn Park & lamented the worn patina it was beginning to show & his comment was, "Hey, it's starting to look like a real Cobra!"
If and when I decide to sell - I'm pretty sure someone out there would rather have an example with some battle scars as well as knowing that a lot of the problems that plagued early SPFs have been taken care of.
I have no plans of dramatically knocking down the price because of mileage and the fact that it's status as a trailer queen faded years ago. If that means sitting on it for a long time - so be it. It's used, but it's far from used up.

Naumoff · #13 (**permalink**) 07-05-2007, 04:51 PM

It seems like the majority of Cobra owners that love Cobras for what they are, drive them. I built my car and had it on the road in Oct. 2005. Along the way of working out the bugs and some down time I have 9300 miles on it.
It is a toy and is owned for the sheer joy of it. It is not an investment. If you buy a replica as an investment you are foolish. Re-sale value was not even on my list when I went looking for what I wanted.
Buy what you want and just expect to work some more bugs out. Enjoy

Hal Copple · #14 (**permalink**) 07-05-2007, 06:03 PM

as someone who has approx 115+K plus miles on my SPF, on a second engine rebuild, different Diff, trans, and lots of track and street modifications and upgrades, it is i think pretty well sorted out. Other than the rock pecks on the front, it looks fabulous, and is nice and tight.

I have many thousands of dollars of upgrades and modifications to my car.

While i have no intention of selling it, now or in the future, i also haven't a clue what it would be worth were i to put it on the block.

That said, i don't think these cars are like Ferrari's or Porsche's where the value of the car drops dramatically with miles.

Steve R · #15 (**permalink**) 07-05-2007, 06:35 PM

[QUOTE the cam roller blew up and went through the block. ...[/quote]

???

(lengthened to ten characters )

Excaliber · #16 (**permalink**) 07-05-2007, 07:00 PM

Well to be fair to my friend commenting on the fit/finish etc of his SPF Coupe perhaps he is comparing the quality to the other cars he parks it next to, the Ferrari and the Mercedes to note just a couple...

While he shrugs off a melted fan relay on the SPF as 'stuff happens', he would never expect such a thing on his other cars.