jonrjen

OK, I let the 35th Anniversary LE GT go on down the road over $200. There is another that has had my eye and has resurfaced once again on the market. It is a Steeda with major, major upgrades. The Mustang itself has around 7,500 miles on it, the current drive train less than half of that.

But, how do you come up to a fair value to place on such a Mustang. I believe the original asking price was round $22,000. It has come down to a lower figure or best offer. I do know that the cats have been removed and would need to be replaced in order for the car to pass a Texas emission test. I figure $500 to $750 for a pair of hi flow cats.
I'm thinking maybe $15K. Care to offer some direction as I maybe thinking too high.

Here is a link:
http://cgi.ebay.com/ebaymotors/ws/eB...m=170872917464

ctgreddy

i think with a car like that, the owner prolly thinks it's worth more than his asking price and i doubt he'd take 15. but never know, offer him low numbers and go from there.

BraMas

good luck getting that for 15K. You will be able to get a nice Mach 1 for 15K

ctgreddy

you can get a SUPER nice mach for 15k. you can also get a cobra with higher miles(around 100k) for 15 if you are willing to drive.

jonrjen

Then, If I am reading the comments correct, the conscience would be that at $15K it would be a decent purchase.

My thought is that while he has put a ton of money into the car, it is still a 13 year old Mustang GT. If someone were interested in it, but didn't have the cash money to pay for it, the bank would only loan maybe $7500 for it.

And while he says to have over $65K into the car, the includes everything spent...including the old motor, transmission and some drive train parts that do not come with the car. My concern is how much maybe required to get the car to pass emissions testing.

Keep the comments coming, I was thinking that the $15K may have been on the high side, I may stand corrected.

Tom V

Bingo! Exactly, the bank prob wouldn't be willing to finance a loan for what he is asking for. The bank could care less how much he has invested into the car. So the bank would say the car is worth X amount and anything over you would have to pay the difference. So if you want to know the value of a car just go sit down and talk to a loan officer at your local bank. They don't need to run your credit to do so either.

BraMas

No there is no way he is going to accept your 15K offer. And someone wanting to buy that car probably wont need much financing so yes your comments about the bank are correct but specialty vehicles fall into a different category. You seem to want some type of special/rare car by the post you have made that is why we suggested the Mach 1

CobraFrenzy

a car with that much invested hes better off keeping..he'll never get the money out of it

jonrjen

I don't know, it looks like he wants to move this pretty bad. The original listing started with a BIN price of around $22K. With the current listing he started around $21K and has been dropping the BIN almost daily...it is now at $18K.

jonrjen

Well, I have not heard back from the seller....however, he did in the end come down on the listing price to $17K. Someone looking for a toy with $17K to spend, I could have been a good price....maybe.