Why the drastic drop in trade-in value?
04-15-2008, 02:50 PM
#11
4th Gear Member
Join Date: Mar 2007
Location: tennessee
Posts: 1,227
RE: Why the drastic drop in trade-in value?
Anyone have ideas on what's going on? Is this just normal?
dont believe me? just do a check on a 2002 mustang with 90,000 miles versus one with only 10 miles on it...only about 1k dollars in difference
04-15-2008, 04:36 PM
#13
2nd Gear Member
Join Date: Feb 2008
Location:
Posts: 246
RE: Why the drastic drop in trade-in value?
Main reason is supply and demand. These Cars were way hot for far longer then I've seen any Ford in a long time and that road always comes to an end.
Other cars that have been hot and then not are PT cruisers, Chrysler 300's Etc..
you can't give away either one of those now.. The mustang hasn't really dropped terribly it's just more in check with where a domestic car should be.
The last time Ford had a unit this hot was the launch of the new (now defunct) T-bird that ride lasted about 2 years. Before that it was the explorer and the f-series power stroke diesels and those were back in the mid90's... A ford Dealer was the dealer to be back in those days..
I can remember having fricken explorers sold before theyunloaded them off of the trucks and f-250 diesels sold with the conversionpackages loaded into the pickup bed instead of the interior.. My how things have changed at Ford. Thanks Bill... lol
Other cars that have been hot and then not are PT cruisers, Chrysler 300's Etc..
you can't give away either one of those now.. The mustang hasn't really dropped terribly it's just more in check with where a domestic car should be.
The last time Ford had a unit this hot was the launch of the new (now defunct) T-bird that ride lasted about 2 years. Before that it was the explorer and the f-series power stroke diesels and those were back in the mid90's... A ford Dealer was the dealer to be back in those days..
I can remember having fricken explorers sold before theyunloaded them off of the trucks and f-250 diesels sold with the conversionpackages loaded into the pickup bed instead of the interior.. My how things have changed at Ford. Thanks Bill... lol
04-15-2008, 04:39 PM
#14
2nd Gear Member
Join Date: Feb 2008
Location:
Posts: 246
RE: Why the drastic drop in trade-in value?
ORIGINAL: 300GT
it's Econ 101 - supply vs. demand. The price of gas has made these cars less desirable (demand), and as mentioned your car is "older" now that the 08's are out. If you want to see it go up in value, leave it stock, put it in storage, and bring it out in about 30 years. Should be able to get a nice return at Barret-Jackson by then.
it's Econ 101 - supply vs. demand. The price of gas has made these cars less desirable (demand), and as mentioned your car is "older" now that the 08's are out. If you want to see it go up in value, leave it stock, put it in storage, and bring it out in about 30 years. Should be able to get a nice return at Barret-Jackson by then.
04-15-2008, 04:41 PM
#15
5th Gear Member
Join Date: May 2006
Location: Tennessee
Posts: 4,182
RE: Why the drastic drop in trade-in value?
New calender year factor along with potential recession
ORIGINAL: rogan01
Just wondering if there is any reason for the drastic drop in trade-in value on our cars in Kelly Blue Book over the past 3-4 months.
I have a 2006 GT Premium Convertible 5-speed with 4500 miles - completely stock. I checked Kelly Blue Book about 3-4 months ago and the trade-in value was between $23,600 - $24,200 (Good vs Excellent)
I checked yesterday and the values were $20,500 - $21,700 respectively.
Any explanation for this? I also checked my friends, he has a 2007 V6 Vert Premium with Pony package and all factory features and his drop was comparable.
Anyone have ideas on what's going on? Is this just normal?
Thanks.
Just wondering if there is any reason for the drastic drop in trade-in value on our cars in Kelly Blue Book over the past 3-4 months.
I have a 2006 GT Premium Convertible 5-speed with 4500 miles - completely stock. I checked Kelly Blue Book about 3-4 months ago and the trade-in value was between $23,600 - $24,200 (Good vs Excellent)
I checked yesterday and the values were $20,500 - $21,700 respectively.
Any explanation for this? I also checked my friends, he has a 2007 V6 Vert Premium with Pony package and all factory features and his drop was comparable.
Anyone have ideas on what's going on? Is this just normal?
Thanks.
04-15-2008, 04:50 PM
#16
Gentleman's Relish
Join Date: Feb 2005
Location: AZ
Posts: 13,090
RE: Why the drastic drop in trade-in value?
ORIGINAL: rogan01
Just wondering if there is any reason for the drastic drop in trade-in value on our cars in Kelly Blue Book over the past 3-4 months.
I have a 2006 GT Premium Convertible 5-speed with 4500 miles - completely stock. I checked Kelly Blue Book about 3-4 months ago and the trade-in value was between $23,600 - $24,200 (Good vs Excellent)
I checked yesterday and the values were $20,500 - $21,700 respectively.
Any explanation for this? I also checked my friends, he has a 2007 V6 Vert Premium with Pony package and all factory features and his drop was comparable.
Anyone have ideas on what's going on? Is this just normal?
Thanks.
Just wondering if there is any reason for the drastic drop in trade-in value on our cars in Kelly Blue Book over the past 3-4 months.
I have a 2006 GT Premium Convertible 5-speed with 4500 miles - completely stock. I checked Kelly Blue Book about 3-4 months ago and the trade-in value was between $23,600 - $24,200 (Good vs Excellent)
I checked yesterday and the values were $20,500 - $21,700 respectively.
Any explanation for this? I also checked my friends, he has a 2007 V6 Vert Premium with Pony package and all factory features and his drop was comparable.
Anyone have ideas on what's going on? Is this just normal?
Thanks.
Unless you plan on selling the car in the next few months or within theyear...why does it matter? I owned my last stang for over 8. I plan on owning this one until it's at least paid off (5 years). Cars are a depreciating asset and they are only an asset if paid off. Otherwise they are a liability.
On a seperate topic (O/T) It's like houses these days, people who own a house are all freaked out because the market is down. Unless you need to sell your house or you're in over your head..Who the hell cares???? Prices will eventually go back up.
04-15-2008, 05:52 PM
#18
3rd Gear Member
Join Date: May 2006
Location:
Posts: 700
RE: Why the drastic drop in trade-in value?
I'd say it's supply and demand. There are quite a lot of Mustangs out there now. That and sales are terrible, down 20% last year and down another 30% so far this year. It's dropped faster than a lot of other Ford cars.
'08 might be the worst sales year for the 'stang since '97 if sales don't pick up. Ford has a lot riding on the 2010 model year...
'08 might be the worst sales year for the 'stang since '97 if sales don't pick up. Ford has a lot riding on the 2010 model year...
04-15-2008, 05:59 PM
#19
5th Gear Member
Join Date: Aug 2006
Location: Cumming, GA
Posts: 2,460
RE: Why the drastic drop in trade-in value?
There are lots of Mustangs out there on the used car lots .... Plus ... Mustangs are relatively cheap ... and the target buyer for a Mustang can generally afford a brand new one ... so used sales are slow ...
04-15-2008, 06:02 PM
#20
5th Gear Member
Join Date: May 2006
Location: Tennessee
Posts: 4,182
RE: Why the drastic drop in trade-in value?
I own land.. It's value never goes down..
ORIGINAL: Derf00
On a seperate topic (O/T) It's like houses these days, people who own a house are all freaked out because the market is down. Unless you need to sell your house or you're in over your head..Who the hell cares???? Prices will eventually go back up.
On a seperate topic (O/T) It's like houses these days, people who own a house are all freaked out because the market is down. Unless you need to sell your house or you're in over your head..Who the hell cares???? Prices will eventually go back up.