Questions about buying a used GT
08-15-2008, 01:03 PM
#11
2nd Gear Member
Join Date: Jan 2008
Location:
Posts: 334
According to Ford sales figures, for 6 months ending 2008 compared to 6 months 2007,Mustang sales are down 29%. 07 was also down from 06 so Mustang sales are on a consistent downward trend. new Stangs garner a $4,000 rebate and you subtract that from invoice price because you don't pay more than invoice nor do you pay the dealer trying to make more profit fee aka "administration fee".
So, if you are looking to buy any product that sales are down 29% from the previous year, and overall sales are trending downward, what do you think that does to pricing? Naturally, they lower in order to incentivize potential buyers. So, the dealer is "asking" $16k, I'd be offering $14k and start from there.
In this market for SUV's stangs, big cars etc, KBB, Edmunds etc are all trailing far behind with respect to estimated values. Only a local wholesaler can tell you estimated market value because they deal in reality on a daily basis.
If you've bought and sold houses or cars before, then you know what sets prices. It isn't the seller.
So, if you are looking to buy any product that sales are down 29% from the previous year, and overall sales are trending downward, what do you think that does to pricing? Naturally, they lower in order to incentivize potential buyers. So, the dealer is "asking" $16k, I'd be offering $14k and start from there.
In this market for SUV's stangs, big cars etc, KBB, Edmunds etc are all trailing far behind with respect to estimated values. Only a local wholesaler can tell you estimated market value because they deal in reality on a daily basis.
If you've bought and sold houses or cars before, then you know what sets prices. It isn't the seller.
08-15-2008, 01:22 PM
#13
2nd Gear Member
Thread Starter
Join Date: Oct 2006
Location: DC Metro
Posts: 152
According to Ford sales figures, for 6 months ending 2008 compared to 6 months 2007,Mustang sales are down 29%. 07 was also down from 06 so Mustang sales are on a consistent downward trend. new Stangs garner a $4,000 rebate and you subtract that from invoice price because you don't pay more than invoice nor do you pay the dealer trying to make more profit fee aka "administration fee".
So, if you are looking to buy any product that sales are down 29% from the previous year, and overall sales are trending downward, what do you think that does to pricing? Naturally, they lower in order to incentivize potential buyers. So, the dealer is "asking" $16k, I'd be offering $14k and start from there.
In this market for SUV's stangs, big cars etc, KBB, Edmunds etc are all trailing far behind with respect to estimated values. Only a local wholesaler can tell you estimated market value because they deal in reality on a daily basis.
If you've bought and sold houses or cars before, then you know what sets prices. It isn't the seller.
So, if you are looking to buy any product that sales are down 29% from the previous year, and overall sales are trending downward, what do you think that does to pricing? Naturally, they lower in order to incentivize potential buyers. So, the dealer is "asking" $16k, I'd be offering $14k and start from there.
In this market for SUV's stangs, big cars etc, KBB, Edmunds etc are all trailing far behind with respect to estimated values. Only a local wholesaler can tell you estimated market value because they deal in reality on a daily basis.
If you've bought and sold houses or cars before, then you know what sets prices. It isn't the seller.
Thanks all for the advice.
08-15-2008, 04:22 PM
#15
5th Gear Member
Join Date: Aug 2006
Location: Near Wash. DC Posts: 13,541
Posts: 2,497
The s197 tends to have pugs that seize up easily so definitely get those replaced. While that is a GREAT deal and in a normal market I'd scoop it up immediately if I was trying to buy.. in this market, sales are so bad that you might be able to shave a few hundred off.
08-18-2008, 10:25 AM
#20
2nd Gear Member
Thread Starter
Join Date: Oct 2006
Location: DC Metro
Posts: 152
Well, I went and test drove it. I really, really liked it BUT I have to do some thinking about it. The PO put in Flowmaster axle-backs and the dealer looks like they put new tires on it. But, and I'm probably be nit-picky, the driver's side quarter panel had a nice 12"x12" area scratched and slight dent to it. Plus some of the trim pieces in the interior was dangling around. The stereo's buttons were worn off. And there was beach sand inside and out of it. There was also a certain "funk" smell to it. I checked the fluids and they "looked" clean. But I didn't have a chance to check the plugs. I did get out on the freeway and it felt smooth as anything; didn't drift or hestitate.
I didn't get into numbers with the sales guy. I needed some time to think about. My concern is the mileage and warranty (it has none). Given the other minor-issues, if I was to get it for $15k, is that pretty fair? Or should get it for lower?
I didn't get into numbers with the sales guy. I needed some time to think about. My concern is the mileage and warranty (it has none). Given the other minor-issues, if I was to get it for $15k, is that pretty fair? Or should get it for lower?