kingofqueenz

im going to buy a 2005 mustang gt premium torch red with 5k miles......its a 5speed-leather-17inch rims-flowmaster axlebacks......the guy originally wanted 25k but then he went down to 23,500 when i told him it was too much.....Book value appears to be about 22k for my area with those low miles....its in perfect condition.....2005 and 2006 are soo close to each other in price, do you think i should go for a 2006 or just save 2-3k and get a 2005? They are identical cars correct? Did the 2005 have any problems or recalls that i should check for?.....im offering him 22k, i think thats a fair price since its book value? Do you think i should get him down to 21,500 or is the 22k a good deal?

kingofqueenz

ive also been reading up on the forum that the 2007's are going to start to get more rebates and incentives on them.....that i should be able to get a 2007 Gt premium for around 25-26k? Is it more worth for me to get the 2007 or should i still go with the 2005 for 22k?

rmays06

The 05 sounds like a cared for car, he ovivously took care of it and kept it clean with 5k miles. For the most part the TSB's here and other forums will let you know what the recalls were, but there wasn't many. Its a great car and you'll be happy with it. ]
If you can get a good enought deal I'd go with the 05. The 07 will be brand new with a longer warretny thou.....good luck

kingofqueenz

Thanks, if i can get it for 22k is that a good deal? Kelly blue book is right at 22k......do you guys usually pay right at blue book or do you go lower? His car was really taken care of so im guessing offering him exact book value will be a good offer. Can you guys also let me know what i should look for before i buy this car.....? any noises to check for? and a list of recalls or TSB's to make sure he had them done. Thanks

kingofqueenz

bump

Tri C

Incentives on new '07 affect the price of used models - the more incentives offered on new ones, the lower the price on used.

The various "books" havemay ormay not have anyrelationship to your local marketplace reality. Decide how much more you are willing to spend to get a new one. 22K does not strike me as a particularly good deal. If it was me, anadditional$4000 or $5000 for a new onewould bewell worth the extra 2 years of warranty and my exact choice of colors and options (and the guarantee of a car not being beat to death). If the spread is larger, the decision becomes more difficult. Obviously, though, there comes a point when the price of a used oneissimply too good to pass up. For me, that number would be south of 20K.

Run a Carfax on it.Also, review the service history. Whether he's had recalls/TSBs done is not really important - if not, you can have them performed for you. Theonly thing I'd beat allconcerned about is whether it's had a problem with leakage into the passenger side footwell.

kingofqueenz

thanks well, i called up my local dealership and they wont give me a better price then 28,500 for a 2007 GT premium....which is a number i cant afford...and after taxes were looking at 31k....i have been looking on autotrader and Ebay and so far for a 2005 with low low mileage 22k seems like a good deal.....i guess if i can get him down to 21k would it then make sense to get a 2005 and not a 2007? I understand i could get 2 more years of warranty but i would probably add an intake-tune-exhaust set-up and it will be voided anyways? am i right in this assumption? any other people chime in?

Orion_240

^ good advice!
Check these boards and above, where it says "Mustang TSB's" and do searches for things like "problems", "rattling", etc.

Are you adding for the low mileage? If so, then I think 22 grand is a fair price to offer. Unless he's desperate for cash there's little chance of him selling a very low mileage GT for under $20K! It should have 20-25,000+ miles on it by now.

If you have to have power passenger seats, an iPod input plug, or the other new packages than get a 2007 at the end of this month. If you wait too long you won't have as many options. Plus you can put down a low down payment, get a longer warranty, etc.
If you're going to be highly modding the engine then you should get the 2005.

Try looking at prices on Carmax, yet?

maniacmikey

Check the underside of the carpet on the pass. side for mold and mildew. For that low of miles think of it as buying a new car for 8 to 10 thousand less then what it was new.

yzfmik

My '05 Torch Red Premium has been trouble free since I have had it. I bought it in October of '06 with 11,000 miles on it and paid $21,500. It'sa 5 speed withall options includingthe Shaker 1000 and side airbags.