Hey Everyone,

I purchased a 1998 Mustang GT from my grandmother a few months ago. When I purchased it, the car had 12,500 miles. After using it for a daily driver for the past few months, I've come to the realization that I need to have something with 4 doors andbetter fuel economy. The car now has 16,XXX miles and I'm planning on selling it myself. I'm seeking everyone's help on how much to price the car. I'm not sure what all was optional on the car that year, but some of the features are:

Red Exterior
Tan Leather Interior
Automatic transmission
CD Player

I've plugged in the numbers on KBB and Edmunds, but I don't feel like they truly take the low mileage into account. For example, the difference in suggested price between a '98 with 16,000 miles and one with 75,000 miles is only $500. I appreciate any feedback you might have.

Thanks!

Ben Jones

 

it's 10 yrs. old no matter how you look at it. bone stock i imagine, meaning it's definately non-p.i., and it's an auto. even with 16,xxx miles you'll still probably only get $9,000 out of it at the MOST. but i would only look to get offered around 7 or 8 for it. just my .02

 

Your car isn't worth a penny more than what KBB suggests.

It's a GT that was heavily produced. It's not going to have any low mileage value for another 5-10 years, if ever.

 

the factors that really hurt you is its a 98 gt(non pi) its an automatic and it has tan interior. i bought a 97 cobra MINT condition, black leather interior, black exterior 40,000 miles for $10,000. and thats a cobra. it came with 4.10 gears, k&n filter, pro 5.0 shifter, o/r h-pipe & mac catback. you can probably sell that gt for $9kish. and thats us being honest. gts arent all that great. now if it was an 01-04 with that low miles and a 5 spd & a diff interior you could get 12-13k easy.

 

Update:

Well, I sold the car to a dealer in Dallas this morning for $11,000. Just a lesson to anyone who has a really low mileage Mustang. Don't let some of the guys in the forum tell you that your car is worth less than it is.

Notesto anyone who is going to question my selling price: No, the price was not dependent on me buying a car from the dealer. It was a cash transaction. I believe this to be market price for the car. The dealer that bought the car is an eBay dealer that deals exclusively with low mileage cars.

 

You compeltely raped the dealer. No chance whatsoever that he will sell it at a profit unless he finds a complete moron. They made 150-200 thousand of these a year (v6+ GT).

You got lucky, but no private party would have possibly bought it for that. The guy must have someone that is clueless lined up to buy it.