Since I just sold my 1996 Cobra Convertible, I have some insight on this thread.

First off, I paid $26K for the car, new off the lot in 1996, kept it almost 8 years, and sold it for $12,500.00 last month. Find me a Mustang GT that will keep 45+% value over an 8 year period. Won't happen. Plus, I had a great car for 8 years with zero maintenance repairs and the car still looked new (56K miles) when I sold it. Got compliments everywhere I went right up until the time I sold the car. 8 years of proud ownership and a ton of memories.

I sold the car because it was a depreciating asset, and I'm gearing up for the next Ford Supercar under $100K. No use holding on to something that was hardly ever driven that wasn't nice enough ever to be worth holding onto for the rest of time. Plus, once the 2005's hit the lots, the values will drop even further. Adding to the equation is two young boys that take up all my time.

Secondly, the 1996 4V is a bad-hiney motor if someone wanted to modify one for serious track time with forced induction. Many of the premier tuners can make more HP with the 1996-1998 4V motors then they could with the 1999-2001 4V intake and heads.

Truth be told, it is very difficult to compare cars from different periods, as people purchase cars for different reasons. My 1965 Mustang A Code GT convertible was top of the line with all the options in 1965 and it was a complete performance dog compared to todays cars, and the guy I sold it to in 1996 had a smile the size of Texas when he took possession.

While I truly like the 2005 Mustang GT, and saw the unveiling at the 2004 NAIAS on press day, it will be replaced with better variations over the next couple of years, and each and every one of you who purchase one will be in the same boat as I am with my now sold 1996 Cobra.

Purchase what you enjoy and can afford, and do me and every other Mustang owners a favor, and drive it like you stole it and create your own memories of the car.

Dan

 

I definately agree with this statement but would also add: ....but don't waste your whole life waiting for something better. Decide when you want to buy and purchase the best you can afford at that time. The future will always hold better/improved options but you'll end up paying for them with wasted enjoyment now.

For myself, the absolute longest I'd be willing to wait (and this is a super stretch) is next fall. If I don't hear of an SE etc. that I can afford being built by then, I am going to RUN to my local ford dealer and buy a GT. I've waited 3 years for this car and 4 years for a mustang. I think its time I got one.

 

Dan,

I completely agree. However, once you own a cobra, it's hard to justify purchasing anything less. I'm a firm believer in living for the moment, but I also believe that good things come to those who wait. On top of this, most people have lost the ability to be patient, save their pennies, and realize their automotive dreams. I've had my fill of Mustangs, and am now on my visionquest for a car that will most likely be with me for most of my adult life, and if I purchase correctly, most of my Children's life.

My fate is in the hands of FOMOCO, and I am at peace with my long-term goals. If the Ford GT hadn't been so inflated at the hands of the dealers, my quest would now be over, and I'd be out driving the snot of out in the coming months.

 

Not to detract from your post, but ...

A well kept 94/95 GT can do that. But that's a special case, you're right that the vast majority of the time a GT doesn't hold value anywhere near as well as a Cobra. Right now you can get a 99 GT for less than a 95 ...

Dave

 

I look at it this way. Now I can pay less money in insurance, car payments, and gas. I'll have better suspension, nearly the same power, and( to me at least) a better looking car. I am not at all upset about it having the same hp. I am VERY happy about it. It means no compromise in power. Which was the reason I did not buy the Bullit edition.