trade in value-Holy crap!
02-15-2007, 06:13 PM
#11
4th Gear Member
Join Date: May 2006
Location:
Posts: 1,481
RE: trade in value-Holy crap!
Maybe i am dumb and didn't read it right, but you are still gonna lose money. If you try and sell that car now, you will probably get 18grand at the most, if you sell the 20's seperately maybe another grand, but thats it. That 9,000 of the sticker price is just a trick that the dealership did. Not to mention any mods you do will cause the resale value to drop even lower. In any case, once you buy a new car and drive it off the lot, it automatically loses its value. It's life. BUY USED!!!
02-15-2007, 06:19 PM
#12
2nd Gear Member
Join Date: Dec 2006
Location: NY
Posts: 198
RE: trade in value-Holy crap!
ORIGINAL: edgespeeder06
well mine was sittin in the dealer in march 06, it was made 6/05 so probably spent alot of time in the dealer, and i kept lookin at it when my dad took his minivan for service and he knew how much i loved it, and oneday he took me out in march with my mom and we went there, and it said $9000 off the sticker price, it was marked at like $30,000 because it had 20 inch Chrome rims, so we took it off the lot for like $22,000 with taxes and extended warranty, and it was sittin in the show - room with less than 2 miles. Now it has another set of tires, plus its still in mint condition and has almost 3000 miles so its worth above what i paid and if i throw the other tires in, which were about $1000, i'll make more, including the summer accessories for the car
ORIGINAL: Wisconsin 5.0
No Kiddin! Gotta buy used stuff, let someone else take a beating. Most cars will drop 50% in four years. My wife just bought a 2005 Ford FreeStar that listed at 28K when it was new for 13.5K with only 16K miles on it.
No Kiddin! Gotta buy used stuff, let someone else take a beating. Most cars will drop 50% in four years. My wife just bought a 2005 Ford FreeStar that listed at 28K when it was new for 13.5K with only 16K miles on it.
There isnt a V6 mustang made worth 30k.
02-15-2007, 06:24 PM
#13
Gentleman's Relish
Join Date: Feb 2005
Location: AZ
Posts: 13,090
RE: trade in value-Holy crap!
I love when people think their car is worth more than they paid for it...
1) if that really is the case. In the time you've taken to read this thread that is probably no longerthe case except for speciality cars like sold through Jackson Barrett and even some of those people pay above what they're really worth for the 'Must have' factor
2) A car is a liability, not an investment ...always has been always will be (means it always loses money not gains)
3) Dealers will always blow their price up to knock it out in a discount or 'savings' for a sale weekend. Oldest trick in the book.
Keeping that in mind, I don't like to buy used cars because you never know what was done to it for the miles that are on the Odometer and those first few thousand are critical to the longevity of the car.
1) if that really is the case. In the time you've taken to read this thread that is probably no longerthe case except for speciality cars like sold through Jackson Barrett and even some of those people pay above what they're really worth for the 'Must have' factor
2) A car is a liability, not an investment ...always has been always will be (means it always loses money not gains)
3) Dealers will always blow their price up to knock it out in a discount or 'savings' for a sale weekend. Oldest trick in the book.
Keeping that in mind, I don't like to buy used cars because you never know what was done to it for the miles that are on the Odometer and those first few thousand are critical to the longevity of the car.
02-15-2007, 06:40 PM
#14
5th Gear Member
Join Date: Dec 2004
Posts: 2,126
RE: trade in value-Holy crap!
I am using the specs off my GT for a comparison. This is what NADA is suggesting on a V6:
Average Trade-In
Average Retail
Base Price
$13,625
$16,050
Mileage - 43,000 miles
-$450
-$450
Options
Leather Seats
$450
$500
Power Seat (V6)
$225
$250
Shaker Stereo System
$325
$375
W/out Automatic Trans. (V6)
-$625
-$625
TOTAL PRICE
$13,550
$16,100*
Here is what they suggest for the GT:
Average Trade-In
Average Retail
Base Price
$19,300
$22,150
Mileage - 43,000 miles
-$450
-$450
Options
Leather Seats
$450
$500
Shaker Stereo System
$325
$375
W/out Automatic Trans. (V6)
-$625
-$625
TOTAL PRICE
$19,000
$21,950*
There is a $5,140 difference between the two which is about the difference of new cars. Most all dealers use NADA instead of KBB. Plus when you actually go in and trade in your car, alot of them will give you wholesale price which is below trade-in price. It ia all a numbers game no matter how you look at it.
Average Trade-In
Average Retail
Base Price
$13,625
$16,050
Mileage - 43,000 miles
-$450
-$450
Options
Leather Seats
$450
$500
Power Seat (V6)
$225
$250
Shaker Stereo System
$325
$375
W/out Automatic Trans. (V6)
-$625
-$625
TOTAL PRICE
$13,550
$16,100*
Here is what they suggest for the GT:
Average Trade-In
Average Retail
Base Price
$19,300
$22,150
Mileage - 43,000 miles
-$450
-$450
Options
Leather Seats
$450
$500
Shaker Stereo System
$325
$375
W/out Automatic Trans. (V6)
-$625
-$625
TOTAL PRICE
$19,000
$21,950*
There is a $5,140 difference between the two which is about the difference of new cars. Most all dealers use NADA instead of KBB. Plus when you actually go in and trade in your car, alot of them will give you wholesale price which is below trade-in price. It ia all a numbers game no matter how you look at it.
02-15-2007, 07:02 PM
#15
5th Gear Member
Join Date: Dec 2006
Location: New Jersey
Posts: 2,307
RE: trade in value-Holy crap!
ORIGINAL: feejay
If the dealer was asking 30k for a V6 just because it had chrome rims, no wonder it sat on the lot. I got a 2006 V6 (made in 4/06) with GT rims for 20k. Sticker was 22.5k. Check blue book value and you will see that even V6 mustangs with little or no miles arent worth anything close to 30k.
There isnt a V6 mustang made worth 30k.
ORIGINAL: edgespeeder06
well mine was sittin in the dealer in march 06, it was made 6/05 so probably spent alot of time in the dealer, and i kept lookin at it when my dad took his minivan for service and he knew how much i loved it, and oneday he took me out in march with my mom and we went there, and it said $9000 off the sticker price, it was marked at like $30,000 because it had 20 inch Chrome rims, so we took it off the lot for like $22,000 with taxes and extended warranty, and it was sittin in the show - room with less than 2 miles. Now it has another set of tires, plus its still in mint condition and has almost 3000 miles so its worth above what i paid and if i throw the other tires in, which were about $1000, i'll make more, including the summer accessories for the car
ORIGINAL: Wisconsin 5.0
No Kiddin! Gotta buy used stuff, let someone else take a beating. Most cars will drop 50% in four years. My wife just bought a 2005 Ford FreeStar that listed at 28K when it was new for 13.5K with only 16K miles on it.
No Kiddin! Gotta buy used stuff, let someone else take a beating. Most cars will drop 50% in four years. My wife just bought a 2005 Ford FreeStar that listed at 28K when it was new for 13.5K with only 16K miles on it.
There isnt a V6 mustang made worth 30k.
it had some other unique stuff too, other than the chrome rims which were $2000, i wouldnt know how to describe it, and it doesnt have mods, its just like when i bought her, i dunno if im goin to sell her on ebay if i going to sell her, but i'll be puttin the louvers on her soon the rear and sides to make it look like a boss mustang, because i was always tryin to go for that look, and maybe it'll sell for alot more than what i paid, who knows, theres always ppl with money who'll pay any price and off course i'll put a reserve that has to be met.
02-15-2007, 07:09 PM
#17
3rd Gear Member
Join Date: Sep 2006
Location:
Posts: 760
RE: trade in value-Holy crap!
ORIGINAL: BAMFstang
Bored at work so I started checking out kelly blue book. Put my car in just to see what it would come up with.
Then I put in a V6 with the same mileage, condition, options and the price gap washuge.
There was a variance or 8-12 grand in value depending on which you looked at (trade in, private seller or retail value).
I was shocked at how fast the sixxers lose their value.
Bored at work so I started checking out kelly blue book. Put my car in just to see what it would come up with.
Then I put in a V6 with the same mileage, condition, options and the price gap washuge.
There was a variance or 8-12 grand in value depending on which you looked at (trade in, private seller or retail value).
I was shocked at how fast the sixxers lose their value.
02-15-2007, 07:32 PM
#19
6th Gear Member
Join Date: Sep 2006
Location: Gainesville, FL
Posts: 11,278
RE: trade in value-Holy crap!
Well just for fun I checked my trade-in and retail value on both kelly blue book and nada. Both were the same. 22,500 for trade and 25,600 for retail. I only paid 25,600 back in July. That was 7100 miles ago. I still owe 21,500.
