Ditch the 4.6... IMO an ls series is a better way to go, but on a budget a lq94 (i think) is the way to go, its the 6.0 iron block ls2 - cheap, lots of potential and hell of a lot easier

 

DO NOT repeat DO NOT!!! Sell your Cobra. You WILL regret it later. Your best bet is to just buy the Jeep for surfing and stuff and race the cobra. If you break it, you can drive the jeep. Save the track car for later bro. Everyone wants a track only car, but the draw back is that you cant drive it on the street.

I know it seems like a big hole to get out of, or you're not having fun anymore...but stick it out man. I know you love cruising that cobra...now just take that cobra away and in its place put a junked out jeep, and an unfinished track car. Tell me which one you'd rather be in.

 

ouch....yeah, screw that.

a foxbody would still be your best bet. you can get them for dirt cheap, and build them for cheap...not to mention how easy they are to work on.

 

yeah, I like the 99-04 body 100x better though, and smokin, I basically want to take a 99 and turn it into a more drag oriented version of your car, It WILL be street legal, but the goal will be all out performance, It would be like a week end cruiser. I want a faster car, and the car payment is putting quite a damper on my social life, no money to go out and do things, doing this would free up my paychecks for when I need them, or when i don't allow me to sink it into the project, I'd be fine without a fast car for a year as long as I had something to work on I can also drive my dads 07gtcs when i feel the need. Working on it is half the fun for me.

 

Response to your title: Yes, you are crazy!

 

=(

you did a full build, whats your thought on it mfj?

 

I will chime in having now owned both. I owned a 10 second Camaro and I just (in the last month) pretty much did the opposite of what you are about to do.

I am selling my fast racecar and my daily driver Nissan Sentra and picked up a 2001 Cobra with 56k miles.

You will make sacrifices for your racecar that will make driving on the street a PITA. That is what happened with my car. Camshafts that make so little vacuum that your power brakes don't work, manual steering instead of power steering, loud exhaust, no carpet/insulation, no a/c, so on and so forth.

Right now you drive the Cadillac of racecars considering the ETs it can pull and the amenities it has (leather seats, cold AC, back seats, gas mileage).

If I might suggest an alternative, interest rates are extremely low right now. I financed my Cobra at 4.6% APR, if you refinanced your current balance and extended the term, you could have $200'ish payments as opposed to whatever you are paying now. Consider that whatever free money you have from selling your Mustang, you will be DUMPING into a project Mustang. If you go into this with the understanding that you will be spending a lot of money on the Mustang, so be it. If you go into it thinking you will be saving money, you have another thing coming...

 

well imo if your going to make a "race car" and do a buncha crap to it... you need to own it

 

I say keep the cobra, mod it but keep stock parts, it will hold its value alot better than any race-car.

Find a cheap jeep, my brother just found a 2000 jeep cherokee in damn good shape with just under 100k miles for $2900.

 

Let me ask you a question... has your car held it's value?...

If your going to keep the car for the long term, then you need not worry about the long term value, because in the end most cars arn't worth much anyway. I mean your going to sweat yourself about whether your car is worth 4k or 8k in 10 years.... thats mostly going to depend on who you find to buy it. Just enjoy your car, mod it you want to, race if you want to... but sweating over the value of your daily driver mustang is just dumb. (assuming its not in collector condition & mileage)