carnage

As mentioned earlier, I bought a mustang GT that is pretty much base.

It has no real options on it. I think the sticker showed 28,880 or something close to that.

I was upside down on this used car I bought about a month ago that I hated, and just wanted out of it. I was about 3,500 dollars upside down on it.

I bought the new mustang gt for 28,900 out the door. This means that they absorbed 3,500 on negative equity. I'm sure it's more than what most people are paying, because I had all the negative equity. But is that still a pretty fair price?

Bravo

In other words, you paid around $25,400? (after deducting what you owed on your previous car).

If that's the case, then you probably did really well (Although I'm not thinking you stole it, since Ford isn't desperate to move 2010 vehicles). If they tacked on what you owed, and you paid $28,900, then you did ok as well (that's just a bit over MSRP).

carnage

Yeah, I think you are right. My 28,900 price includes tax, so it might make the initial price a little less than 25,400. I'm not sure what the sales tax would have been.

I just know that I am signing the papers tomorrow and picking it up, so I'm a little keyed up tonight. Haven't even driven the car yet. Just wish tomorrow were here.

afoust50

As a New Car Sales Consultant (that's our fancy title lol), I would have never done that.. Your poor salesman is eating ramen noodles cause he made a mini on that one. Was the dealership having one of those "We payoff your trade" or "Trade in Assistance" programs going on at the time. Cause if not, you bought that for invoice price.

robinsonda1

Even if you buy a car at invoice the dealer still gets the hold back, and the sometimes ridiculous "documetary" fee $299 in GA, $399 in VA, only $50 in TX. Not to mention the fact that they will make money selling the trade so I don't feel sorry for them one bit.

carnage

I wouldn't think it is a great deal. The car I traded in was an audi A6, 2003 model, that had 44,000 miles on it. It was pretty loaded, though. My payoff was ~14,800.

On a website the manager pulled up, it showed the cars were going through the auction for 10,600 or so, but most of them had more miles than the one I traded in did.

Maybe they can make some money off of the trade...dunno.

Now I'm wondering if they will change the deal when I sign the paperwork tomorrow. All of this is still verbal. Wish I hadn't asked the question now.

robinsonda1

If they change the deal...walk away.