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Cobra Market Value
OK, I'll ask the question; how is the current financial mess going to affect the market value of special interest automobiles, especially Cobras? Is our hobby financially fragile? Or are Cobras storm proof? What will a SPF or Kirkham be worth six months from now? What about the guy who took out a home equity loan to buy his "dream?" Expert opinions please come forward!
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When your 401 k and stocks drop as much as they have recently, who is going to be in the mood to buy anything, never mind a toy like our Cobra's.
joeg |
Whatever happens won't effect the value of your car UNLESS you have to sell it.
Just like everything else, doesn't effect you unless you have to sell. Paper losses only. |
Economy bad, Cobra good
I don't think values will change that much. Cobras may be immune since thay are such specialty cars. I bought mine cash a few years ago and got a great deal. Still worth twice what I bought it for.
Cash deals are always the best but if you got to get a loan for one, you are probably screwed. Unfortunately, guys who thought they would be enjoying their Cobras in their retirement, now have to sell their Cobras to fund their retirement. |
Who cares, never though about value or gas mileage when I built mine, heck!, I don't even know how much it cost me, never added up all the receipts?. but, if (heaven forbid) 'O'NO! gets in he will crush all toys, the military and a whole lot more.........
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Yesterday I was reading that car sales in September were down in the 25 to 30 percent range for auto manufacturers. Ford, GM, Honda, Toyota are in the same boat. Some of this is due to lack of consumer confidence, but a lot of it is due to banks not wanting to make the loans or unable to make the loans due to the financial crisis.
So unless the government can take the junk debt away from the banks, the banks will be able to issue less and less loans. Which means less people able to buy cars, unless they have the cash. So unless things get fixed, cash is going to be king... |
Or maybe people have seen the light and now realize that trading in their car every three years is a dumb financial decision.
No one is buying new cars because everyone has decided to keep that three year old car a little longer to get their money out of it. Back to the way things used to be. The auto industry will adjust, just as we did. Think how entire countrys like China, who depend on the American consumer to buy all the crap they can knock off, are going to fare. They depend on American dollars to finance their rapid growth into the 19th century. Could be a heck of a blow to their economy if America stops buying their products. |
As for new car sales I think a lot has to do with waiting another 2 or 3 years to see how gas prices play out vs. technology to improve mileage. I know I for one don't want to get stuck with a car getting 24 mpg when they may double in the next couple of years. Have been watching sales of bikes, hot rods and cobras and all seem to be taking a hurt lately. Most of the downward price trend has been going on longer than the economy panic and I think mostly due to a glutted market. I think sales will really slow for the next couple of months until one can see which direction the economy is actually going, also it's that time for the old winter slow down on bikes, hot rods and cobras. Anyone who has to sell during the next six months will take a bath I'm guessing.
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And to take the question one step beyond the value of the cars; how do you think the Cobra replica (and Shelby, too) manufacturers will weather the financial turmoil? Who has the resources and management skill?
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Sal,
I think Shelby,Kirkham, and a few of the other better ones will come through ok, but with less sales than normal. We may see some of the smaller come lately companies go out of business. So far as a Cobra being an investment I never built the one that I had with that in mind. By the time you add all of your hours work into the price and everything, and considering it is not a normal car that any person might want to drive to the store, I think if you sell one for what you have invested in it you have done well. Some have made money in the past when they sold theirs, but the ones that I know around here who have sold theirs in the last year or so sure didn't come close to getting what they had into the cars. And I am sure that location has a lot to do with the resale value too. Ron |
Exactly! People are starting to wake up to reality.
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