I'm looking at a 96 mystic Cobra for my son. It has 71,000 miles ..all stock... excellent condition. The guy wants 10K for it.
I looked at edmunds and they say
trade in is $3,340
private party is $4,433
dealer retail $6,273
Is there someplace you can buy them for that?
What do you think they're worth?
$10K? He's playing for the people who like the rarity of a mystic. For that amount of money you could buy a lot more car. But, since it's a gift, I guess a lot comes down to your son's taste on it and if it be worth it to him.
$10K is a bit high, although $6K is marginally low in comparison to what I've seen them sell for recently. It really depends on condition. 71K is relatively high mileage for a '96 Mystic, and I think he could find the same car with lower mileage and in great shape for around $10K. I believe I even saw one with under 3K miles for sale recently for $15K.
But FWIW, the book values are almost irrelevant for some of these cars. I had a serious $20K offer less than one year ago for my '98. But it's Chrome Yellow (rarer than Mystic), has some tasteful modifications, and 11K miles on it.
Your son is looking at the right cars, though...'96-8 Cobras are one of the best late-model Mustang buys (and best looking with their front fascia and nostril hood), imo. I'm never letting my '98 go!
so a little more than 5k miles/yr is high mileage?
I think he means that a lot of these Mystic Cobras were purchased new to be a weekend driver and not subjected to daily driver use. I'm not sure if that is the case but it is possible.
You used to see them quite often in the late '90s. Not so much anymore. I remember that the shop I worked at fixed Brent Jones' (ex-49er tight end) Mystic when they first came out and getting the paint was a pain.
1969 Indian Fire SportsRoof
1969 Lime Gold 428 CJ Grande 1 of 37
1989 Black GT Convertible 22K miles
2006 Dark Toreador Red F-250 Lariat PSD CC 2WD
MCA # 24108
as far as I'm concerned 71,000 while low mileage takes the car out of that collector/investor market and puts it into the neat older car driver market. Still all I'm seeing is people who think they got a collectable and want collector prices.
That is true, at least for now since there's plenty of low-mileage '96 Mystic Cobras out there.
But despite what the books say, and despite what other models actually sell for relative to their book values, it'll be difficult to find a "nice" '96 Mystic for even the stated retail [which I know tend to be high on more typical models] price of $6273. But if you don't mind paying close to $10K, take some time to find a better deal on a lower-mileage [and likely nicer] Cobra, as they're out there in that price range.
As far as performance, yes the horsepower is about the same as the newer GT's, but newer GT's still won't run to 7000-7200 rpm that a 4V heads will.
I couldn't agree more. Even though the '96-8s lack the low-end torque of the newer 3-valve engines, they scream from 3K-7K rpm. And if you really want to wake up a n/a 4-valve, throw in a 4.30 gear. New GTs and older Cobras may post similar times at the strip, but imo '96-8 Cobras are MUCH more exciting to drive than new GTs. Driving comfortably for an extended period of time is a different story...but when you're young, who cares?
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