Thinking about selling the Factory 5

[Jason Lee Nye]

I was taking a break at work and looking at the NorCal-Cobras page and ran across the Spec Racer info and events. Apparently Factory 5 is offering $10,500 for the first 7 Spec Racers sold. I have always been more interested in racing around a track, rather than racing in a straight line for a ¼ mile. Believe it or not the wife wants to do it more than me.

After seeing various videos of Factory 5’s going around a track and having Gordon Levy at our fingertips and hearing how affordable it is, I think I have found the purpose for me owning a Factory 5. I have been wanting to build one with my own hands (and the help of friends) as well as racing around a track at high speeds. What other reason do I need? Of course I don’t know how I will handle the withdrawals and may need some of my friends to give me a ride from time to time to ease the pain until the car was up and running. Also if it is possible to make it street legal that would just be perfect.

Obviously I have to work to do on the doors like replace the broken studs. Or I could just knock a few bucks off. I am in it $24,000.

Am I crazy for wanting to do this?

Can I build one for under $15K if I pick up the kit for $10,500? The engine would remain stock out of the Mustang and have to be less than 225 hp.

[Excaliber]

I think it was 94 or 95 that they rated the 5.0 at 225. Before that it was 215. Before that it was even less. I think the FFR specs are 1993 or OLDER engine only in stock trim. Must have Power Steering also (thats weird, why is that?). 3" ride height minimum, lots of little "specs" to consider.

I worked the "numbers" a couple of different ways and I think $15K was about the lowest possible number for a spec racer. ADD more to it to make it "streetable" (and LESS competitive on the track at the same time).

Heck, don't worry about the competition, I would build it to DRIVE to the track and do the best I could with what I got! But NO motor mods if you gonna race "in class".

Ernie

[mikiec]

The 5.0 HO from 87 to 93...is rated at 225 HP. Others are 215.

Jason,

Get the doors fixed. Then decide if you want sell the car. You can run your current car in any NASA event. The SPEC racer allows you to also run in the Spec Race challange. The spec racer does have some chassis advantages over the std. FFR.

Mike

[Satanpez]

It was 225, and then downrated to 215 in 94. Same engine. (hyper pistons in 93 and up)

Isn't that deal for the first 7 spec racers over?

-steve in nj-

[Paul Gillespie]

Jason,

I agree with Mikie, get your doors fix first. Then go out and run in the High Performance Driving Experience (HPDE 1 & 2) with NASA. I cost 129.00 for one day and 219.00 for two days + 30.00 for a yearly membership. I would get some track experience with your currrent car and wait for some others in the valley to get the SPEC Racer Series running in PHX, most all of the races are in California.

[Jason Lee Nye]

Originally posted by Excaliber


I think it was 94 or 95 that they rated the 5.0 at 225. Before that it was 215. Before that it was even less. I think the FFR specs are 1993 or OLDER engine only in stock trim. Must have Power Steering also (thats weird, why is that?). 3" ride height minimum, lots of little "specs" to consider.

I worked the "numbers" a couple of different ways and I think $15K was about the lowest possible number for a spec racer. ADD more to it to make it "streetable" (and LESS competitive on the track at the same time).

Heck, don't worry about the competition, I would build it to DRIVE to the track and do the best I could with what I got! But NO motor mods if you gonna race "in class".

Ernie

The more I look at the Spec Racer the more I like it. It would have to be streetable as well. To bad the front end on the Spec racer doesn’t come up like the coup.



Mike,

I know I need to fix the doors before selling it. The market is bad right now but I wonder what a realistic price I could get for it? I would be happy if I can get $23,000 for it and I would almost be even in it.

First things first and that is to fix the doors.

[mikiec]

Jason,

Are you planning on coming to the cruiz in on Saturday Night? If so we can discuss your doors.

It will be chilly so dress warm.

Mike

[Jason Lee Nye]

Mike,

At 59th?

Jack told me what I had to do. Since I have never drilled out bolts before I would feel more comfortable with someone who has done this sort of thing. One mistake could be a costly mistake. How about JB weld for the doors j/k

So what do you guys think I could get for the Cobra?

[Jackffr1846]

Jason,

Think about what exactly you want to do with the car. I've had my FFR on the road for 3 years and while giving my wife a tour of the NHIS garages, she asked me why I don't race mine. I use my street car (a subaru) on the track. Well, that question sat in my head and I've decided to use the winter to prep the car for the track for next year. In my case, I only had $16k into the car to begin with and won't sell it or make it NASA legal....just run it in the local club that I now instruct in. I expect you could do the same with your car if you wanted to. It's very hard to price your car (I have no idea what's in it) but have seen a few for sale here in the Northeast that are not selling. Perhaps its the snow outside or the draw of building one instead of buying, but I'm seeing plenty of mid to low $20k cars sit unsold. Most of the sellers that I know are looking to build another car....coupe or GTV8.

[mikiec]

Jason,

59th... Actually where the old Costco used to be. about 55th ave and Bell.

Check with Jeff.....He should be there and will be very helpful. Actually any of the guys will be more than happy to help...Dave or Bruce in particular.

There is always Gordon. He will do what ever you want done on the doors. Acutally he would be my first choice, he has lots of experience with those doors.

Mike

[Jason Lee Nye]

At the same time I am also trying to limit the cost. Christmas and all, funds are limited. I could afford around $60.00. I don't expect them to line up perfect, I just want the broken bolts replaced.


Jack,

I like the safety features and the roll cage on the Spec Racer. Never thought the doors were much a use any ways so getting in and out with the doors bolted on is no problem. (I’m not as old as my fellow Cobra owners he he he) The whole roll bar thing sits well with me. The point is I have known that I always wanted to build one and I knew the current one was temporary. If I am going to build on I might as well build one I like and have the maximum safety. And the wife really really really wants to race it. The only downfall on the spec racer will be the full windshield and lights needed to make it street legal. If I don’t race it enough in Spec races then I will just have to beef up the engine and stick to the local races. Since I plan to build my own, I am looking at the all around package. I want a car that can race on the track with other Spec Racers if it ever comes to that and drive it on the fun runs. Half of the fun is driving with other Cobra owners the other half would be on the track.

I know it sounds crazy but I honestly do not feel safe in my car because I did not build it. I don’t know what the previous owner did or DID not do and I don’t want to strip down the car to find out. It appeases me for now until I can build my own. It has been a great car but I guess it is just me, I want to build my own. That way when I splatter myself all over the road, I can only blame myself. Or the other way to look at it is that I know how it was built and EVERYTHING is done how I want it done. Maybe it is my ego or maybe I only trust myself. Or maybe I take to much pride in myself and want to build it myself.

As far as my car goes, Silver, 302 EFI, 75 hp nitrous kit which can go up to 150 hit, custom Centerline rims, hood hinge kit, chrome roll bar, and silver jet coated side pipes. I could live with low $20’s. I am in it for $24K.

[OhBuoy]

I think that the first 7 car deal is long gone. That was the offer back when they first started the series in California about 2 years ago.

Tom

[Jason Lee Nye]

damn,

They are still posting it on the NorCal webpage. Would be nice if they start something like that for Arizona????