Z06#1891

Hi gang, I'm looking at purchasing a 1966 Era cobra replica. Has anyone owned or have any experience with these cars? The reason I'm asking is I have a 2004 Z06 comm. Edition and I may trade it in for the cobra. All though I believe the Z16 will be worth way more in the long run I may still do the deal and re buy another vette in the future it seems tha the value goes down before they come up. So I was thinking if I can do this deal and pay off the cobra in 6 years I can stil end up with a great comm. Edition with very low miles in the future while still having the cobra to hold value.

Can I get some honest opinions on this one guys? Thanks!

Z06#1891

Oh btw I still owe 28k on the vette so they want to do an even trade and roll the 28k over on the cobra. The car is at www.flemingsultimategarage.com and the only cobra listed if someone is interested in seeing it.

BWF07

Well you did not mention the miles on the Z06 or the miles on the Cobra, but if you still owe $28K and they want to do an even trade, and you still owe $28K I think they are getting the better part of the deal. That is if the Z is in excellent condition and low miles. They are asking $49,900 and the Z could bring as much as $30K. So they end up with say $58,000. I am sure they know that the Z06 will bring them more that $21,900, which is what they need to make their $49,900.
If this will be you only car, than it is not a good decision, as the cobra is not a practical car as a daily driver.

Z06#1891

The Z06 has 24k miles on it and is great shape always detailed and garaged at all times. the cobra they want 49k for and it has 5k miles on it.

the car will be a toy just like my 66 impala and Z06, only weekend drives and shows.

Z06#1891

Also im not sure if it makes a difference or not but the 04 Z06 is the commemorative edition #1891

f6john

No way I'd let the Z16 go for a replica anything, but if I owed $28k on the Z16 I'd probably be selling it to be able to buy groceries, but that's just me.

Z06#1891

lol!

I really cant complain i bought it 2 years ago from carmax, a one owner car previously and what else has 405 hp and gets mid to high 20s for mpg. I know the cobra what even come close to that but thats another reason its a weekend or sunday car lol.

PEERPSI

I looked at replica Cobra's long and hard a few years back. Very appealling but here's the thing. There are numberous companies that still build these. Generally they were not well done replicas. To a certain degree the builders aim to replicate but at some point they stray way off target. Strange interior bits, odd hardware choices and if you look close they shaved the budget some how. If it's not an original or Shelby endorsed product it will not hold it's value well. I suspect resale wouldn't be easy either. The other thing I didn't like was the lack of modern technology, ABS brakes, traction control etc.. Admitedly these things would be out of place on the Cobra. I've driven them on the race track, attended a race school that used them as the class vehcile. Delicate, easy to lock the brakes up and not very comfortable particularly the footwell. Several of the cars I looked at didn't have power steering so that limits who can actual drive the car. If you're getting up in the years that alone merits consideration.

Of course if money were no object and I had Jay Leno's workshop I'd own one personallized with a twin turbo V8, 6 speed, traction control and ABS brakes. Oh and I'd loose the live axle in the rear in favour of a independant suspension setup. Or take all the money that would involve and get a Ferrari!

Z06#1891

You are totally right. This is a ERA car # 611 im looking at it seems to be built nice. The car has no a/c, no power steering or brakes no modern tech at all to it. It does have a 428cj engine backed by the richmond 5 speed. It does have the indep rear susp though. its at www.flemingsultimategarage.com if you have time to peek at it.

Yeah im still young so to say i just turned 29 a couple months back so no problem on that part, lol.

BWF07

Ok the site list it at $49.9K, but at $49K you will still assume the balance of $28K and they get a $30K car that comes to $58K for them. You may want to talk to them a little more. The Z16 low mileage is much more of a car than the Cobra replica will ever be, but it is you money and your choice.

Z06#1891

Well the other part is that I would also trade both Z06 and 66 impala for the cobra. They are willing to do a even up trade with me rolling over the 28k owed on the Z06 into the cobra so the cobra I would finance just 28k total. Sorry I should have posted that to begin with. But still I see what your saying and agree 100% with you it may be a lot to think about. I can always find one in 4 more years after I pay off the vette. I just want another old car but really want something different then the 66 impala ss I would love to have a nice c3 as well and I would be completely happy with that as well. That way my wife and I both could take our own vetted to shows and cruises.

FNFastZ06

Speaking from experience, Cobra replicas are great to own for a season or 2 and send on their way. I built one. Have loads or race prep experience, I can get alot out of a SBF, and did. Car was fast and crazier than a sh!thouse rat. Can't drive it on rainy days, can't drive it on hot, sunny days. If you have 450hp or more, you can't hook up. Over 100 mph, the front end gets real light. Just look at that gaping mouth.

You'll lose any girl you may have cause they stink of gas and oil and muss their hair due to no roof.

You'll go deaf from the rumble of the side pipes

Can't wait to get my hands on another one.

jraschke11

You still owe $28k on a 7 year old car and want to finance a vintage toy REPLICA?

Your money dude, but damn...

PEERPSI

Actually you can build one. The kit industry for these cars is alive and well.

I'd be willing to bet that in 4 years from now your priorities well be very different. You may want to have your toy loans paid off.

Rickman

Now that's funny! But seriously, listen to what he's saying: can't drive it on either rainy or hot, sunny days. etc. In other words, it is ultimately a toy. As others have said, you may wanna stay conservative this year in light of the US economy, hold fast and pay down your Z.

Rickman

Shurshot

Of the C5 ZO6 cars you have the one to keep when it comes to holding value....... Flemming knows this and will capitalize on it.

On the other hand the replica at best is just a replica

Unless you are in need of reducing your insurance cost, IMO the only thing worse than trading off your vette for it would be trading your vette and your 66 409 for any replica....... that would bring a new meaning to the term "double down"

The choice is yours but if you live long enough you will regret letting go of what you have.

Warped Head

Sure, but you can easily get to a point in the Cobra hobby where that doesn't matter. They may all be replicas, but they can be genuine ERA, genuine Kirkham, genuine Superformance, etc. ERAs hold their resale value exceptionally well, far better than the majority of Corvettes of the same manufacture date.

For being at a dealer, $49K is pretty reasonable for that car. Private sale would be low 40s. Still, with the rollover from money owed on the Z06, ~$58K isn't reasonable.

Z06#1891

I would be financing only 28k if I do it. It just in tails me getting rid of my 66 impala and 04 z06 would both be traded for this car. Which I still think it's not a good deal if they can work something better I may consider.

FNFastZ06

My next $.02. I agree with others, it's almost never a good idea to finance "toys". Trading those vehicles AND financing $28k is just hard to justify, IMHO.

Oldvetter

When I retired, I was planning to build a Cobra Replica. But, after researching them, I decided against doing it.

They are cramped (especially the driver footwell), don't handle well, and hot (as said before you can hardly drive them when it is over 80 F outside. Only thing they do well is go like H$LL !