Rebuilt Title 2001 Cobra : TO BUY OR NOT TO BUY - Mustang Evolution

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Old 07-15-2012, 01:46 AM   #1
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Rebuilt Title 2001 Cobra : TO BUY OR NOT TO BUY

So my local dealership has a 2001 cobra that has 93k miles on it for $7650. Is it even worth to look at?? I'm planning on buying a car and keeping it for roughly 4-6 years which I know is a long time.

http://www.autotrader.com/cars-for-s...17285628&Log=0

Does everything look ok?? If I even look at it, I'm taking it to a transmission shop and at least 1 if not 2 automotive shops.


Thanks!
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Old 07-15-2012, 02:10 AM   #2
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Re: Rebuilt Title 2001 Cobra : TO BUY OR NOT TO BUY

What was damaged to have it have a rebuilt title? Have you asked them to see the damage and repair order?

If anything I would pay a local mechanic to check it out for you. I know here in Las Vegas, NV I have a mechanic that will check any vehicle for me for $75.00

Good luck. It looks nice.
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Old 07-15-2012, 02:12 AM   #3
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Quote:
Originally Posted by FordAddict
So my local dealership has a 2001 cobra that has 93k miles on it for $7650. Is it even worth to look at?? I'm planning on buying a car and keeping it for roughly 4-6 years which I know is a long time.

http://www.autotrader.com/cars-for-s...17285628&Log=0

Does everything look ok?? If I even look at it, I'm taking it to a transmission shop and at least 1 if not 2 automotive shops.

Thanks!
The price seems about right for 90k miles. But it sais cash only so u better have 7500 plus taxes. Test drive it but it looks nice
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Old 07-15-2012, 02:47 AM   #4
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The second pic might just have the door ajar, but it looks like the drivers side door doesn't line up perfectly. Plus it's the only shot from that angle, which make me wonder.
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Old 07-15-2012, 03:05 AM   #5
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You wouldn't catch me looking twice at a car like that with a rebuilt title for that money. Too many other nice stangs in better condition for as much or a little more coin.

Just to give you an idea; we recently sanded my car down for repaint and found out the entire driver side had been replaced. Fender, door, and quarter. Carfax was clean and previous owner was second owner and "had no idea." it had obviously been hit hard. My dad, who has been in paint and body business for longer than I've been alive, actually called the guy out on it when we test drove it but I didn't listen to him. Haha.


Just be careful and if you do buy it. Please have them check the frame and all the "repairs".
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Old 07-15-2012, 07:33 AM   #6
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$1500 is all I'd pay for any SALVAGE car....
Way too many possible issues to list.
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Old 07-15-2012, 07:43 AM   #7
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Salvage title cars are tricky. I've seen some that are true lemons and some that just have some light flooding (doesn't take much.) Have the whole thing looked over and have them point out in detail all damage and repairs. In addition to your inspection. If you get that gut feeling of impending ripoff then walk away.
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Old 07-15-2012, 09:55 AM   #8
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Well I don't know what the salvage is from but ill find out Monday. As for the pic, I noticed that too but in person it all lines up. Ill be able to talk them down I know that for sure and I have 8300 liquid to buy a car. A friend of mine (old substitute teacher who restored a 67 and 69 mustang) has a friend who owns a shop and told me to bring in any car before I buy it. He has seen hundreds of stangs and knows exactly what to look for ect. When they inspect, I'm going to be out in the shop also. I need to see how the underside looks and I'm going to go through it very carefully. As for the paint, as long as it all looks good on the outside I'm fine because my old stang had a weird color issue. Plus I have a shop that sprays cars if they're primered for a little under a grand for reds and that includes a 3 year warranty.
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Old 07-15-2012, 10:05 AM   #9
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That is a lot for a rebuilt title. I've wrecked my mustang a few times and I thought it was bad but never bad enough to declare a total loss. Could you imagine what had to happen to it for an insurance company to make that call?
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Old 07-15-2012, 10:19 AM   #10
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Isn't it just enough damage where the repair shop quotes a higher number than what the insurance company thinks that the vehicle is worth??
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Old 07-15-2012, 10:31 AM   #11
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Quote:
Originally Posted by FordAddict
Isn't it just enough damage where the repair shop quotes a higher number than what the insurance company thinks that the vehicle is worth??
Usually the insurance companies put a cap on how much they will pay out , I knows company will only pay up to 5,000 in repairs Amy thing over they will declare a total loss it's not really based on worth of the vehicle , that's why companies offer gap insurance to make sure in a total loss you can come out even in the deal
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Old 07-15-2012, 04:35 PM   #12
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I was in an accident in my STi and they got up to $18k in damage before they declared it a total loss.
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Old 07-15-2012, 05:00 PM   #13
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Isn't it just enough damage where the repair shop quotes a higher number than what the insurance company thinks that the vehicle is worth??
Sometimes if there is any frame damage they will total it.
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Old 07-15-2012, 05:04 PM   #14
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Well I'm going to look at it on Monday and see what's up. Then ill come back to ME and we can discuss this more!
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Old 07-15-2012, 05:11 PM   #15
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to consider totalled. it is usually 80% of the book value of the car. so if the damage exceeds that number then its considered totalled. so all vehicles will be different depending on the value of the car.
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Old 07-15-2012, 10:53 PM   #16
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In my state if the floor gets wet from flood water its totaled, the harness and computers get wet u can dry out but few months down the road...snake bite (computers die out )
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Old 07-16-2012, 12:11 AM   #17
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In my state if the floor gets wet from flood water its totaled, the harness and computers get wet u can dry out but few months down the road...snake bite (computers die out )
If it is a flood title then ill definitely have this checked out!!
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Old 07-16-2012, 05:24 PM   #18
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Yay... it was a lemon ...

Basically it looked like it had been picked up by a tornado, thrown around, slammed into a lake...

Jk but it had flood rust pretty high up and it had been rear ended, repainted and door and other stuff weren't lined up properly. Plus it had hesitation and couldn't put you back in your seat... sad day for the svt
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Old 07-16-2012, 05:27 PM   #19
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Yay... it was a lemon ...

Basically it looked like it had been picked up by a tornado, thrown around, slammed into a lake...

Jk but it had flood rust pretty high up and it had been rear ended, repainted and door and other stuff weren't lined up properly. Plus it had hesitation and couldn't put you back in your seat... sad day for the svt
at least you caught it!
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Old 07-16-2012, 06:07 PM   #20
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Now I found a kick *** gt centineal? edition with 110k miles no mechanical problems, it has a lot of aftermarket engine work, off road x, flow 40s (-.-), shaker hood, and 9/10 on both exterior and interior. Stick of course. Short throw, new clutch, 4.10 gears. And a sun roof which is iffy but kinda cool. All it needs is mil Eliminators which he has and will go with the car and a new tie rod end (both which I can do myself). $8500 sound right?
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Old 07-16-2012, 11:32 PM   #21
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Quote:
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Now I found a kick *** gt centineal? edition with 110k miles no mechanical problems, it has a lot of aftermarket engine work, off road x, flow 40s (-.-), shaker hood, and 9/10 on both exterior and interior. Stick of course. Short throw, new clutch, 4.10 gears. And a sun roof which is iffy but kinda cool. All it needs is mil Eliminators which he has and will go with the car and a new tie rod end (both which I can do myself). $8500 sound right?
6500 would be better. Sunroof isn't OEM on Mustangs. Maybe the fox.
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