V6 (1994-2004) MustangsTechnical discussions on the 3.8L and 3.9L V6 torque monsters Sponsored by Optima Batteries
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In my area it seems like Kelly Blue Book is very wrong for my '94 mustang. As a trade-in regardless of condition, they will not offer me more than $400.00, ANYWHERE. For sale, it seems that '94-'00 mustang v6's go for $1500 to $3000 depending on condition. What are your experiences? Do you think the value of the sn95 has bottomed out or will I be seeing $800 mustangs in my area in a few years?
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a trade in on anything more than a 5 or 6 year old car will get you nowhere near what a private sale on the same car would get you.
Dealership do not want to be saddled with used inventory more than a few years old. The gap between liability/profit margin on older cars is significantly more narrow.
I.E. you have 10 cars all valued at $5,000 on your lot, you bought each one for $1,500. That's $3,500 potential Gross profit on each. Take into account the repairs, time they will sit on the lot, comissions etc, and that gross profit turns into $800 to $1,000 each. Take into account that one of the 10 blows an engine as soon as it drives off your lot and you are found liable. You just lost the profit on that car and several others to make up for the loss.
Newer cars have less liability (overhead) so they are more profitable.
Kellly Blue book is just that, a book. It has ZERO real world value outside of dealerships. The "value" of a car honestly can't be placed. A car is only worth as much as a seller is willing to let it go for. In general V6s are going for $1000-4000 depending on year and most importantly condition. Trade in value is near ZERO. Currently the market for sports cars is extremely soft. As I stated in another thread, younger people have migrated away from sports cars and into euro eco friendly designs. Older people are looking for newer family oriented cars which leaves sports cars somewhere in between and creates a soft market. Having a V6 (less desirable) in a soft market further hampers it's value and what people are willing to give for it. Remember, your car is coming up on being nearly 20 years old. Being that old it's not going to carry much, if any, real value. You're looking around $1000-1500, maybe, for a private sale.
KBB gives a decent starting point for private sales too, however it is not intended to define the price, but simply be a guide.
Price depends on location too. We recently bought an '01 vert, but any '94-'04 V6 convertible was on our radar. We couldn't find any early SN95s that didn't suck for $3000 or less in our area. Every one we found was a beater. I just scanned my local craigslist and the only cars I'd even look at right now are listed between $3500-4500 from private owners (more from dealers). The New Edge Mustangs are even more, we just happened to find a very good deal on one with some blemishes.
2001 Convertible - V6/Auto
1967 Coupe - 302/4spd
Second part of the question, as the value of the v6 sn95 hit the bottom yet? Will it ever go back up ? I think they sold quite a few and the v6 is probably never going to be in demand. Just curious as to what the current views are for the future of these cars.
These cars will never appreciate in value. Only the classics, or first gen mustangs have maintained some value because people will make them whatever they want. The same isn't so easily done with newer stangs as they're specifically made for the motors they come with.
In short the value of the V6 will continue to go down till it hits a rock bottom point, which it's pretty close to. The only "appreciation" the car will see will be due to inflation of the dollar, not improved value of the car.
The value of a car is set by the buyer. People will pay if you have what they want. Black interior is popular and easily painted. I don't know if you want to invest the time and money. But the turn around time is worth it. I value Mustangs by the mods and the driver. People fall for a grand paw or maw selling a car. The younger generations are ruff on cars. We are almost as bad as people who sell rent a cars.
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