Ever consider buying....... used?
4th Gear Member
Joined: Dec 2006
Posts: 1,209
From:
RE: Ever consider buying....... used?
ORIGINAL: Derf00
I think to sum up this thread,
1) Weigh your options on new vs used ( i.e. interest rate is higher on used vs new but a new car is going to take a huge hit its first year in depreciation) (IMO if you have to buy the car with a with more than a 60month loan, you can't afford the car to begin with).
2) Consider that not all used GT's are abused. My wife brought up a good point with the newer used GT's you see on the lots. People don't consider the cost of insurance when impulse buying. Chances are that 05-07 used GT with low miles was probably an impulse buy and when they got the first or second insurance bill, it was way more than they were planning/could affordso they had to trade it in and get a more sensible car. In those cases the cars probably weren'tbeat to hell. Owner just couldn't afford the car. Tires are good indicator of abuse. A car with under 15K miles should not have tires that are nearly bald.
3) Take the car to a reputable shop to have them give it the once over. Don't rely on the vendor to tell you it's good.
4) Run a carfax - can help you find any issues the car has had as well as if it has a washed title (Salvage title in one state, registered in another state, then brought back to clean the title and make it look 'clean' to a potential buyer)
5) There are aftermarket warranties that in some cases are better than the Ford warranties (Although Ford ESP is hard to beat)
6) DO NOT BUYSalvage title...insurance may not give you coverage and you won't know if the car has a fatal defect that could end up killing you in an otherwise survivable accident.
I think to sum up this thread,
1) Weigh your options on new vs used ( i.e. interest rate is higher on used vs new but a new car is going to take a huge hit its first year in depreciation) (IMO if you have to buy the car with a with more than a 60month loan, you can't afford the car to begin with).
2) Consider that not all used GT's are abused. My wife brought up a good point with the newer used GT's you see on the lots. People don't consider the cost of insurance when impulse buying. Chances are that 05-07 used GT with low miles was probably an impulse buy and when they got the first or second insurance bill, it was way more than they were planning/could affordso they had to trade it in and get a more sensible car. In those cases the cars probably weren'tbeat to hell. Owner just couldn't afford the car. Tires are good indicator of abuse. A car with under 15K miles should not have tires that are nearly bald.
3) Take the car to a reputable shop to have them give it the once over. Don't rely on the vendor to tell you it's good.
4) Run a carfax - can help you find any issues the car has had as well as if it has a washed title (Salvage title in one state, registered in another state, then brought back to clean the title and make it look 'clean' to a potential buyer)
5) There are aftermarket warranties that in some cases are better than the Ford warranties (Although Ford ESP is hard to beat)
6) DO NOT BUYSalvage title...insurance may not give you coverage and you won't know if the car has a fatal defect that could end up killing you in an otherwise survivable accident.
SOME cars that are "salvage" titles aren't exactly bad. I own a 1967 Jaguar E-Type that's got a salvage title on it. It was in an accident at 5 mph where the previous owner smacked it into a pole. The damage to the car was more to repair than it was for the insurance company to total it (the replacement hood, front bumper, paint job, etc. was more than the car's insured worth of $6k, since he didn't have it on a collector car insurance or anything) so the insurance company totaled it out, the guy who owned the car repaired it under a salvage title and then sold it. There's no frame damage; the only way that you can tell is that there's points on the door sill of the car that show it was originally yellow and the replacement hood was originally red.
Again, Salvage doesn't always mean BAD (i.e. low speed crashes on classics, or flood damaged cars where the car was underwater) but generally the rule of thumb is that salvage means the car had been totaled and has structural damage somewhere that may make it unsafe for normal driving, let alone "spirited" driving.
4th Gear Member
Joined: Jul 2006
Posts: 1,092
From: Charlotte, NC
RE: Ever consider buying....... used?
Save some major money and buy a slightly used GT... I bought mine that was a year old with 4k miles on her, belongedto an older gentleman wholiked the GT so much he decided to buy a GT500. Sothe "used" discount was well worth it for me.
Joined: Oct 2003
Posts: 24
From: United States
RE: Ever consider buying....... used?
I work for a used car lot and ive been wanting a new body GT for over a year. Everyone I can get is either the wrong color or not optioned the way I want. Also im picky with my cars and take very good care of them and most of the used ones I see for sale are not as clean as I want. Then most used car lots around here also ask within 4 grand of a new one for a used one with 20k miles.
4th Gear Member
Joined: Jan 2007
Posts: 1,881
From: Virginia Beach
RE: Ever consider buying....... used?
I watched mine get unloaded from the semi! Then bought it 15 min later. Nothing like driving a car with .ike .5 miles on her. I was looking at 07's still on the lot for like 2500 less brand new. But I just had to have the 08. Dont regret it at all!
2nd Gear Member
Joined: Sep 2007
Posts: 231
From: NY
RE: Ever consider buying....... used?
The lastsix cars I have bought have all been used, low mileage cars. The only one I ever had a problem with is a Chevy Blazer, which my son currently has, and I don't think any of the problems with that car were from a previous owner. All the rest were Fords, including one Taurus and two Sables, the best car Ford has made since the model T. That said, I believe the most important part of the equation is low mileage. I started buying cars in the 60's, when if a car lasted 100,000 miles that was considered a milestone. Nowadays a car can easily last twice that long if properly taken care of.
I bought a new 07 GT this past July because I couldn't find any used GTs in my area and I had to have one (just like a little kid). Fortunately Ford was offering a pretty good incentive then that basically paid my sales tax (I live in NY, 8%), and I got a decent, not great,price on the car. I had a 66 red coupe my last year of high school, and I have been wanting a stang since 05. However, I am in a good position to afford the car, just got my last kid out of college and the mortgage is paid off.
If you can find what you want used, I would go for it. A car is definitly a lousy investment, basically its a toy, and you should consider the money you spend on it as being used either for transportation or recreation expenses. I garage mine in the winter to keep the salt off, this will be the last Mustang I buy unless I hit the lottery.
I bought a new 07 GT this past July because I couldn't find any used GTs in my area and I had to have one (just like a little kid). Fortunately Ford was offering a pretty good incentive then that basically paid my sales tax (I live in NY, 8%), and I got a decent, not great,price on the car. I had a 66 red coupe my last year of high school, and I have been wanting a stang since 05. However, I am in a good position to afford the car, just got my last kid out of college and the mortgage is paid off.
If you can find what you want used, I would go for it. A car is definitly a lousy investment, basically its a toy, and you should consider the money you spend on it as being used either for transportation or recreation expenses. I garage mine in the winter to keep the salt off, this will be the last Mustang I buy unless I hit the lottery.
1st Gear Member
Joined: Mar 2006
Posts: 95
RE: Ever consider buying....... used?
One thing to consider. Some places consider that a "Newer" car is still a NEW car.. IE, the rates are the same as long as the car is less than x years old.. My Credit Union is this way. I bought my car with 9k miles on it (still paid too much in hindsight) but got the new car rate.
3rd Gear Member
Joined: Dec 2007
Posts: 557
From:
RE: Ever consider buying....... used?
I have a friend who bought a brand new ford fusion and has had more problems with it then I have with my used 05 mustang. So just because its new, doesn't mean its not gonna have any problems right off the bat.
2nd Gear Member
Joined: Aug 2007
Posts: 152
From: MA
RE: Ever consider buying....... used?
In the last 7 years I've gone through 7 cars, 6 trucks, 3 motorcycles and 2 boats. All bought used for a nice price that allows me to sell them and move on to another. I could not play this game buying new cuz soon as you slap on the plate and drive off you just threw several thousand out the window. Nothing wrong with used. Just do your homework and let Carfax be your friend.Yes I do have a sickness. Addicted toH.P.