I Have Been Given A Trade Proposition: 1998 Mustang GT For 1996 Mustang SVT
I have my gt up for sale or trade on a local mustang site around Dallas and recently a guy called me saying that he has a 96 cobra and that he would like to trade me straight up.
His reasoning is that he is trying to buy a house, and he wants the cheaper insurance. I don't really know a whole lot about the car yet, but I know it is black on black with 102k miles.
Mine is a 98 GT with eibach lowering springs, MM CC plates, tokico struts and edelbrock shocks. Also a strut tower brace, SVO headers, CAI, 18" Koenig wheels, Steeda TRi-Ax among other things I'm sure I am forgetting. Assuming the Cobra is in about the same shape, should I trade. I know the obvious answer is yes, but is 102k miles a lot. My chassis has 132k, but the motor (brand new), tranny, clutch, and flywheel only have about 8k.
What should I do?
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1998 Mustang GT-SVO Headers-Steeda Tri-Ax-Flowmaster American Thunder Mufflers Dumped-Eibach Springs-Edelbrock Shocks-Tokico Struts-MM CC Plates-CAI
Go for it. Just make the guy sign a Bill of Sale stating the Cobra is in good working order, runs and drives great, etc. That way, if it breaks down soon after you get it, he'll have to foot the repair bill. If something does go wrong with the car and he claim's it was traded "as is", you could legally argue he misrepresented the condition of the car and he'd be liable for the repairs. His reason for the trade is suspect, though. I can't imagine insurance for a Cobra is much more than a GT. If he's strapped for cash, why doesn't he just sell the Cobra outright?
BY the way if u jump on the cobra replace the radiator fan with the updated one from like a 97-98 or a 99 if the wireing is the same, the 95-96's liked to run hot because the fans did not flow enough air.
Just make the guy sign a Bill of Sale stating the Cobra is in good working order, runs and drives great, etc. That way, if it breaks down soon after you get it, he'll have to foot the repair bill. If something does go wrong with the car and he claim's it was traded "as is", you could legally argue he misrepresented the condition of the car and he'd be liable for the repairs.
How do I go about getting one of those and where?
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1998 Mustang GT-SVO Headers-Steeda Tri-Ax-Flowmaster American Thunder Mufflers Dumped-Eibach Springs-Edelbrock Shocks-Tokico Struts-MM CC Plates-CAI
You can get one either at the DMV, on the internet (doing a quick search, I found this one that looks pretty good Motor Vehicle Bill of Sale), or write one yourself. It doesn't have to be long or complicated. It could be a few sentences. Something along the lines of
"I, (name), owner of [describe vehicle, including est. value], will enter into a trade of similar value vehicle owned by [Cobra Owner name]. Vehicle being traded for is 1996 Ford Mustang Cobra, 102,xxx miles, vin. # (if you can get it). The Cobra is in good working order, and the owner has disclosed any issues with the car. Both parties have honestly represented their respective vehicles, and both are traded "as is". Put your name and adress at the bottom and sign and date it, and make him do the same. Print out two copies, so you both have signed original copies. If you don't have access to a printer, you could hand-write two copies and it would still be binding, given that you each sign them.
It probably doesn't have to be said, but get a Carfax vehicle check at the very least before you trade. And make sure he has the title in hand. Don't fall for the "I'm moving and can't find it, but will send it as soon as possible".
From the sound of it, you have alot of money invested in your car. From the picture you have, you car is in excellent condition. It sounds like he seen your car, and he knows he is getting the better of the deal.
Here is what I would do.
1. As far as you getting him to sign a statement and making he liable for the all repairs, good luck on getting him to sign that. Even if my car was in excellent shape, I would never sign anything making me liable....STUPID!
2. Plus I know rumrunner is trying to help, but what he posted looks like a normal bill of sale. No judge is going to look at the wording "runs great" and say to the seller that he is "totally" responsible for all repairs. I don't think so......
3. If you are really setting on trading, take it to a mechanic, to do a compression check, fuel pressure check, etc. Have him go over it with a fine tune comb. Run a diagnostics on the computer
4. If it even looks like something is wrong ( which probably is) horses are not that expensive. My insurance is not that more expensive, so it sounds like a lot of CRAP!
Good luck,
Richard
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96 cobra, 4:10 gears, K&N cold air induction, BBK long tube headers, BBK high flow cats, king cobra clutch.
"If I am ticking you off, then I must be speaking the truth"
Never thought about it like that, that's why I come here. Also, I've gotten him to agree to bring it down and let my mechanic look at it. That being said, he is a mechanic, not a performance guy. I'm really wanting a cobra, as I'm sure most GT owners are, and would do just about anything to get one, but where do I set the line of cutting the deal and walking away?
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1998 Mustang GT-SVO Headers-Steeda Tri-Ax-Flowmaster American Thunder Mufflers Dumped-Eibach Springs-Edelbrock Shocks-Tokico Struts-MM CC Plates-CAI
If you read closer, I'm not saying he should sign a personal statement saying "if anything goes wrong, I'll cover it". Nobody should sign something like that. All I'm saying is make sure, on the bill of sale, the condition of the car is stated. That way, if it breaks down within a short period of time (say 2-3 weeks MAX), he will be liable. And yes, judges will award damages IF, and only if, the vehicle was MISREPRESENTED at the time of sale or trade, even with the term "as is". It's an implied warranty and will stick in court. I have personal experience with this. In addition to what rich96cobra wrote, check for water damage in and around the car. Might be a "flood damage" special.
yes, you are correct rumrunner, you probably could hold him liable if you can get him to sign such a thing. I have traded cars for years, and never have I got a person to agree and sign a statement the car is in "good condition."
Maybe I should start doing that when a person says, " this cars is in great running condition"
That is a great idea rumrunner! I will keep that in mind on my next purchase!
For the most part, I got a feeling this dude is trying to shaft ya........ Purchase a horse, and insurance is to expensive.....yeah right. If you believe that crap, I have some land in Florida I can sell ya! HAHA!!
Here is what I would do. If you current car is paid for. Go purchase the cobra. Drive the cobra for a while and see if it hold up. If it does, then sell the other car. I feel ya bro on the "need for something" I did the same thing on a z28 years ago, traded a nice car for a piece of crap. I had to put a new engine and rear end, etc. He got my newer trans-am with nothing wrong. So, I have made some bad mistakes......
Good luck,
Rich
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96 cobra, 4:10 gears, K&N cold air induction, BBK long tube headers, BBK high flow cats, king cobra clutch.
"If I am ticking you off, then I must be speaking the truth"
Any new progress, spy? Again, it's a standard bill of sale. It's the same thing you sign when you buy a car at any dealership (their's is just a lot more complicated). I wouldn't buy or sell a car without one. A Bill of Sale doesn't necessarily mean "good condition" either, it could say "car smokes on start-up". The reason for it is to make both parties "honest". I guess my point was to help Spy get a little more insurance with his trade because, unfortunately, you can't trust a man's "word for it" anymore.
I guess we've gotten off topic here, but the trade does sound fishy. Have you had a mechanic look at it yet?
No, I tried to call him last night and he didn't answer. We're supposed to meet up tonight, but I haven't gotten ahold of him. He said he's been sick and he had to go to the doctor the other day so that could be it. Doubt it, also no it hasn't been to my mechanic. I'm starting to get pretty upset about this, but in the end, I'm right back where I started so what's the point. Maybe he'll call back, if not, the car is still for sale.
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1998 Mustang GT-SVO Headers-Steeda Tri-Ax-Flowmaster American Thunder Mufflers Dumped-Eibach Springs-Edelbrock Shocks-Tokico Struts-MM CC Plates-CAI
I know you are wanting the cobra, but do not let your urgent wants overrun your good judgement. This is has not happen to me yeah.....right
I hope you get the car, but make sure you get the mechanic to check the car out first. This is how I purchase my car. I drove the cobra around. Gear shift was lose ( minor fix), car was missing and it had a code on it.
Still she wanted $7000.00, and kept telling me how much "cobras" were worth. I took it to my mechanic and he said it was worth around $6000.00, at the most. Here is the thing, she had about 12 guys look at it and tell her it was worth the moon, but the people who were truly interested did not want to give her crap for it.
I gave around 6k. It had alot of issues and I fixed most of them. But I am not in debt up the arse with the car.
Make that a rule when you purchase a car. If you cannot turn around and sell the car for what you gave for it. Then you gave to much for it.
Good luck and hope you get it. Just make sure you get it checked out.
Rich
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96 cobra, 4:10 gears, K&N cold air induction, BBK long tube headers, BBK high flow cats, king cobra clutch.
"If I am ticking you off, then I must be speaking the truth"
Well I haven't spoken to the guy in about a week so I gave up a few days ago. If he calls me back, we may pick things back up, but I'm not counting on anything.
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1998 Mustang GT-SVO Headers-Steeda Tri-Ax-Flowmaster American Thunder Mufflers Dumped-Eibach Springs-Edelbrock Shocks-Tokico Struts-MM CC Plates-CAI
I Have Been Given A Trade Proposition: 1998 Mustang GT For 1996 Mustang SVT 
Even if my car was in excellent shape, I would never sign anything making me liable....STUPID!
