Is this a good deal?
12-14-2008, 11:15 PM
#1
2nd Gear Member
Thread Starter
Join Date: Dec 2008
Location: WI
Posts: 172
Is this a good deal?
Back in September I happened to see an ad on the internet for a 2007 Mustang GT. It was a bit of a drive to the dealership, but I thought I'd check it out.
The car is like new, with just 8,000 miles on it. It has the deep red color with a tan interior. The only spot that shows even the slightest hint of wear is the driver's side floor mat, which had a little dirt on it. It still has the Ford factory warranty.
It's got the GT body package, five speed manual, power leather seats...in other words, all of the extras.
They had it priced at $22,900, which I didn't think was bad. In October I noticed they dropped the price to $21,900. I didn't see any advertising for it, so I figured they sold it.
I was surprised to find it again the other night, and also surprised that they'd lowered the price to $18,900. I suspect that they got a good deal in trade when gas prices were high, but then got stuck with it when the stock market tanked, and they're now just wanting to get rid of it because it's winter.
I have the feeling that this is a very good price, based upon what I've seen in literally hundreds of other ads.
Is it?
A photo of the car is here.
The car is like new, with just 8,000 miles on it. It has the deep red color with a tan interior. The only spot that shows even the slightest hint of wear is the driver's side floor mat, which had a little dirt on it. It still has the Ford factory warranty.
It's got the GT body package, five speed manual, power leather seats...in other words, all of the extras.
They had it priced at $22,900, which I didn't think was bad. In October I noticed they dropped the price to $21,900. I didn't see any advertising for it, so I figured they sold it.
I was surprised to find it again the other night, and also surprised that they'd lowered the price to $18,900. I suspect that they got a good deal in trade when gas prices were high, but then got stuck with it when the stock market tanked, and they're now just wanting to get rid of it because it's winter.
I have the feeling that this is a very good price, based upon what I've seen in literally hundreds of other ads.
Is it?
A photo of the car is here.
12-21-2008, 09:57 AM
#4
2nd Gear Member
Thread Starter
Join Date: Dec 2008
Location: WI
Posts: 172
Since there were no replies to my last question, I'll update it and ask again.
Last week the dealership raised the price from $18,900 to $20,300. I thought maybe the $18,900 was a mistake, so I called. The salesman told me that they'd priced it at $18,900 to try to get it off the books for inventory for the year. He said if I wanted to pay $18,900 I could come right down and do it.
That tells me that they have more room to bargain. My brother, who's an expert at getting the absolute best deals on cars (it was part of his job for many years), looked at Kelly Blue Book and Edmunds, and said they probably paid $17K or less on a trade-in. He suggested I start my negotiations from there.
That said, I have yet to see a 2007 GT with 8,000 miles for anywhere near $18K. Most are well north of $20K. Am I missing something, or are there less expensive cars that aren't showing up in the online classifieds?
Last week the dealership raised the price from $18,900 to $20,300. I thought maybe the $18,900 was a mistake, so I called. The salesman told me that they'd priced it at $18,900 to try to get it off the books for inventory for the year. He said if I wanted to pay $18,900 I could come right down and do it.
That tells me that they have more room to bargain. My brother, who's an expert at getting the absolute best deals on cars (it was part of his job for many years), looked at Kelly Blue Book and Edmunds, and said they probably paid $17K or less on a trade-in. He suggested I start my negotiations from there.
That said, I have yet to see a 2007 GT with 8,000 miles for anywhere near $18K. Most are well north of $20K. Am I missing something, or are there less expensive cars that aren't showing up in the online classifieds?
12-28-2008, 12:53 AM
#6
2nd Gear Member
Thread Starter
Join Date: Dec 2008
Location: WI
Posts: 172
Thanks for the reply, Grinder88. I called the dealership as I said in a previous post, after they had raised the price back up to $20,300, but the salesman said I could have it for $18,900.
I got my financing squared away first, and then went to dicker on price with the salesman today. They would not budge. He said that he'd already lowered the price from $22,900 to $21,900 to $20,300, and had offered it to me for $18,900. After checking Edmunds.com and KellyBluebook.com, I'm finding that $18,900 is a pretty good price even for a private sale.
The car is still like new. It has the GT body package, aftermarket 1/4 window scoops, rear quarter panel scoops (just behind the doors), heated leather power adjustable seats, 6 disc CD changer, MP3 player, Shaker stereo, cruise control, keyless entry, dual electric mirrors, traction control, power door locks, and more. As I said, it's loaded.
Mileage is now 8500. It still has 23 of the 36 months full factory warranty, plus the remaining powertrain and body warranty.
One of the big factors for me is the color combination. I haven't been able to find another GT on the internet with a beige ("parchment") leather interior and deep red or even torch red exterior.
I'm tempted to go back to the dealership and say, "OK, you win. $18,900 it is." This isn't a good time to be selling Mustangs, but it's sure a good time for deals, and I'm more convinced than ever that this is one of the best deals out there.
Somebody talk me out of it? Please?
I got my financing squared away first, and then went to dicker on price with the salesman today. They would not budge. He said that he'd already lowered the price from $22,900 to $21,900 to $20,300, and had offered it to me for $18,900. After checking Edmunds.com and KellyBluebook.com, I'm finding that $18,900 is a pretty good price even for a private sale.
The car is still like new. It has the GT body package, aftermarket 1/4 window scoops, rear quarter panel scoops (just behind the doors), heated leather power adjustable seats, 6 disc CD changer, MP3 player, Shaker stereo, cruise control, keyless entry, dual electric mirrors, traction control, power door locks, and more. As I said, it's loaded.
Mileage is now 8500. It still has 23 of the 36 months full factory warranty, plus the remaining powertrain and body warranty.
One of the big factors for me is the color combination. I haven't been able to find another GT on the internet with a beige ("parchment") leather interior and deep red or even torch red exterior.
I'm tempted to go back to the dealership and say, "OK, you win. $18,900 it is." This isn't a good time to be selling Mustangs, but it's sure a good time for deals, and I'm more convinced than ever that this is one of the best deals out there.
Somebody talk me out of it? Please?
12-28-2008, 01:49 AM
#7
4th Gear Member
Join Date: Jun 2008
Location: MA
Posts: 1,387
I'd say that's a good deal, I have seen them go lower, but not fully loaded with just 8,000 miles. I actually just searched autotrader as I was writing this and saw that in my area, S197 GTs are advertised for $22000 or more for similar options and mileage.
12-28-2008, 10:13 PM
#8
1st Gear Member
Join Date: Nov 2008
Location: Michigan
Posts: 63
Just go for it! I was a little nervous when I bought my 01 gt vert but as soon as I was in there driving it home I was as happy as could be and never looked back. If your job is secure then take advantage of this buyers market. Damn near everything has a lower price than it did 3 or 4 months ago.
12-31-2008, 12:00 PM
#9
3rd Gear Member
Join Date: Nov 2006
Location: Chicago
Posts: 527
thats a good price. just go in there like your ready to talk them down. its a buyers market for sure no better time to buy in the past few years even so im sure you can get them to lower the price. this time of year selling a mustang cant be easy even in a sellers market lol. i was 18 when i bought mine and paymets can be a pain but im still happy i did it.
