New car time, talk me up, down, sideways...Fun weather convertible for $15-30k

Sold the E55 AMG last weekend, looking for another summer fun car.

High on the list are an early Viper (gen 1), 3rd gen IROC convertible, ideally with an LS swap already, or 03-04 Mustang Cobra Convertible.  Moderately on the list is an S2000 or an E46 M3 Convertible

Primary use is fair weather commuter (20 miles each way, half freeway and half city), occasional road trip/weekend trip.  Will not be an every day driver, does not need to haul more than 2 people, fuel mileage/consumables doesn't matter at all.  Would occasionally see a drag strip, maybe once or twice a year, if that.  Would be nice to find something that the value will hold steady on or slightly increase.  

Viper is cool, I have always wanted one, value seems to be flat or maybe on the uptick.  Downside to a viper is I would probably take out a loan for half the value of the car, pay it off over 3 years.  I know, I know, car loans blah blah blah.  Not sure how good one would be for a weekend up north, etc.  Also I would be driving it, so it would suck to buy a low mileage car to drive into high mileage, and buying a higher mileage car is tougher to sell.  Already went down that road with my e55.

3rd gen IROC is the cruiser of the bunch.  They are crappy at everything compared to modern cars, but the style is great, and they are on the uptick in value.  Also dirt cheap parts, simple to work on.

03-04 Cobra Convertible is probably the #1.  I have always liked these cars, there are a decent amount out there, and they don't take much work to be very fast.  Also practical, with a real trunk, a real top, cruise and AC, modern enough to drive every day and old enough to be cool.  

S2000 is a little slow and  small for me, and the only ones I have driven were ratty AP1s.  Should I find a nice one to test drive?  

E46 M3 would be cool, the style is killer, but I am afraid of the potential for financial ruin and some interesting services (rod bearings, cooling system, trunk floor)

Any thoughts?  How much would a gen 1 Viper suck to cruise around in?  

996??? Or some other 911 variant that has turbos?? 

Are the roads in decent shape for you daily drive?  I think the E85 Z4s are at about the bottom of their depreciation curve.  A non-M version would let you avoid most of the engine worries. 

If if your local roads are rough though, it may feel like you’re going to drop a kidney. 

348?

I dont know where you can get a 996 or a 348 for $30k, I would take two of them for that price!

The roads are pretty bad, freeways and suburbs are good but side roads and city streets are like the surface of the moon (Milwaukee).  After having the E55 AMG on 20s with 35 series tires, something with more sidewall is definitely appealing.  My two dailys are a WRX with 60 series all terrains and a lifted F250 on LT35x12.5R20 so its nice to have at least 4" of sidewall!

996's are all over for 30K here in Texas right now. 

I would go 03-04 cobra. Good thing about those are they are not moving in value at all so it's a pretty flat cost to own. 

bmw88rider said:

996's are all over for 30K here in Texas right now. 

 

I would go 03-04 cobra. Good thing about those are they are not moving in value at all so it's a pretty flat cost to own. 

 

 

I guess I should have specified 996 Turbo.  996 Regulars are readily available here as well.  Cheapest turbos I see are closer to 50.

Can't you find a ND for that?

Yeah, I've seen Turbos in the low 40's when I looked. low to mid 30's will get you a 997.1 cab 15K-30K gets 996 cab all day long.

How well do Corvette C5/C6's align with your wants? 

I already had a C5, 6 speed, targa top, with an A&A/Vortech supercharger on it.  Made 535 horse to the wheels on a stock longblock, trapped over 125 MPH, was a pretty fun car.  I threw a lot of parts at it, definitely learned all the weaknesses in the driveline during my 5 years with it.  

I guess it is sort of a been there done that with the Corvette.  I would really only want one if the price was super right and it needed some work, and then I would only keep it for a year or so to fix all the odds and ends and send it down the road to make some jingle.    If I could find a low mileage clean title but ratty C6 vert I would consider that,  A C5 vert would have to be priced under 10k or have some kickass mods, be a good color combo, and be a 2002-2004 for me to be interested in.   They are pretty great cars, but super popular here in southeastern WI.  I would like something a bit more exotic.  

In reply to 93gsxturbo :

"Been there, done that" is a fine answer. 

93gsxturbo said:

I dont know where you can get a 996 or a 348 for $30k, I would take two of them for that price!

I’ll sell you my 996 for $20K. 

Jag XKR? Much newer than some of the other cars suggested for the same money. Look great and 500+hp. 

I’d go for a classic. I daily drove an R107 Mercedes 560SL for a few years. Looks great. Handles much better than expected. Surprisingly smooth, quiet ride for a roadster. The soft top actually seals out the weather. Add a hardtop for the winter months.

They made a billion of them, so you should be able to find a clean one in a nice color for a good price without too much leg work. Prices are only going up. Hard to go wrong.

Just make sure to ditch the ugly US bumpers and headlights: much sleeker with the original Euro-spec lights/bumpers. And add some vintage Eurotrash wheels for good measure.

^^^ This one belonged to Michael Schumacher.

93gsxturbo said:

 

Any thoughts?  How much would a gen 1 Viper suck to cruise around in?  

Been there, done that.  Though not a true gen 1, I had a '99 GTS as a toy.  Yes, I financed it, so I wouldn't give you any flack for taking a loan on it.  That car was one of the most love/hate relationships I ever had with a car.   I've owned a ridiculous number of cars, and that one was probably the sexiest one of the group (probably tied with my FFR Cobra...you should think about those, FYI).  As far as cruising the highway, they were great.  It'd actually knock back high 20's mpg while cruising, because 75mph in 6th was barely above idle speed.  It was really fast, though not as fast as my FFR, had great torque.  Exhaust note was a bit quiet for my taste, but wasn't awful.  But...and it was a big ol' but...some major drawbacks.  The car is a white knuckle ride on anything but billiard table smooth pavement.  It tramlines like you wouldn't believe.  There was nothing wrong with my car, no wrecks, I had a Viper certified tech look at it.  It's just the way they are.  If the road has a crown to it, be ready to make lots of steering corrections.  The driving position was never comfortable.  It desperately needed adjustable pedals.  If I got close enough to be comfortable with the clutch, I was eating the steering wheel.  I guess it shouldn't matter, but the Chrysler parts bin interior was pretty crap-tastic.  Seats were fine, but secondary switches belonged in a Dodge Omni. 

If you get one, plan on having to spend 10 minutes extra every time you get gas or stop somewhere.  It draws attention like you wouldn't believe.

In reply to Klayfish :

I’m almost 100% certain my 97 viper GTS had adjustable pedals. I checked and first gens wouldn’t have come with them. 

Still hate the thought of getting in and out of the viper again. I was 25 when I bought the car so it isn’t like I’m an old man complaining. Uneven roads were a nightmare, I’ve never been so scared of poor pavement.

I never enjoyed talking to at least one person every time I stopped somewhere. Lots of “I wish I could afford one of those” from people with $60k trucks. 

Other than my few complaints Vipers are awesome and I’d love to own a newer ACR one day... if my wife lets me. 

Thanks for the insight on the Vipers, guys.  

I am an attention whore (think Kenny Powers) so I would not mind the attention of a Viper.

Do you know if the gen 1 cars have usable enough trunk to take a few overnight bags and a small cooler?  That was what I liked about my Corvette, it was like a small Silverado.  Could really pack stuff in there.  

How about the aftermarket hard tops and side curtains.  Is this something that actually seals the car up halfway decent?  Or are these more novelties?  Is one brand or style preferred to the other?

Would I be doing a disservice to pick up a 94 or 95 (no emissions for pre 96 and one-time-fee lifetime registration in Wisconsin as a collector car) with the plans to drive it 3k-5k a year?  Guessing at that point no sense paying a premium for one since its gonna get driven anyway.  Any particularly desirable or undesirable things on the early cars?  Any aftermarket stuff I definitely want or want to avoid?

I endorse the Benz 560SL, those are such good looking cars with the euro bumpers/lights and they're built like tanks.  Won't lose any money on them either...

Why not an LS-powered Meotter?  I believe you can get one built for nearly that money and it will be as fast or faster than some of the options you've suggested.

That said, I also like the idea of a FFR Cobra, especially for someone looking for flash :)

Meotter is out.  I am not a fan of the styling of any generation and they are pretty common around here.  Not super concerned about being the fastest thing on the block, see the potential for an IROC convertible listed as a high probability.  

There was an FFR Cobra on Craigs that went for like $18, pretty pedestrian build (box stock 5.0) and an auto but it looked super cool.  Is there a trader for the FFR cars?  I dont think I can afford Superformance and don't really see the need, my cars are almost always drivers more than anything else.

The only turn-off to me on an FFR Cobra is (guessing) they have no provisions for a top, or windows, or A/C, or cruise.  

Brand new Camaro convertible is knocking on $30k.