How to sell a new GT350

[Huck FInn]

My 2020 GT350, delivered in late March, dropped a valve last Friday like so many before me. The magic is gone and I want out. I have put about $10K into the car in extra wheels and tires, exhaust system, stone chip film, etc. so it is much better equipped than all the new bare GT350s for sale at dealers, but I have damaged goods under the hood. I would like to sell it quickly so I can buy something else.

Any recommendations on where to advertise, and how to price the car considering the engine repair? I'm told a long block will be put in. I have a total of about $77K invested in the car.

Thanks for your suggestions.

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[IronG]

How many miles on it and did you get all the repair work done under warranty? You have paperwork showing what was repaired and by whom?

 

[Bikeman315]

First off, sorry to hear about your engine. Unfortunately stuff happens, it sucks. That said, a lot of owners have had their car repaired and still drove and loved them. Are you sure you're not making a snap decision?

Anyway, sounds like you want to sell it before the engine gets replaced. If that is correct then your asking the buyer to pay for the car and wait for the engine to be replaced while you go out and buy a new car. That may be a lot to ask. I believe, under your circumstances , you are going to have to go private. You may or not get anything for the extras you bought. Might have to sell those separately. As far as price, be prepared to take a bath and hope you find a good buyer.

 

[LxMike]

Will the engine still be able to be replaced under warranty if someone else buys the car??

 

[Bikeman315]

Will the engine still be able to be replaced under warranty if someone else buys the car??

Yes, since Ford already agreed to change the long block. The remainder of the factory warranty transfers to the new owner. That said, OP should make the deal for an extended warranty now. It will be a selling point that the new owner should appreciate.

 

[opengl]

I have a total of about $77K invested in the car.

I think you're finding out the hard way that money spent on a car is rarely if ever an "investment".

 

[Bikeman315]

Huck, you might want to PM Scott on this thread, "2020 GT350, 1000 miles DEAD with Broken Valve". He got a new long block in three days. Maybe he can give you his contact at Ford.

 

[hemistar1]

Get it fixed and keep it for a year.. keep it stock and sell all your mods separate. Enjoy the car and then sell after a year and a few more thousand miles. The next buyer will be more apt to pay book price if they know the car now runs and you have a few thousand test miles to prove it. You will lose some value but not as much as you will if you sell before the new engine is “broken” in.

sorry this happened but could happen with any car.

 

[Greg35]

Huck, I sent you a PM. Thanks

 

[stangman638]

give ya 45k even....

 

[stangman638]

Man I hate it for ya, But unfortunately Mustangs arent great at holding any value. I Know a guy bought a gt350 spent 68k I think it was and put 1700 miles on it decided he didnt want it. Nothing wrong with it and best he could get was 49k. My buddy got fully loaded need for green 2019 pp1 gt premium 52k he looked around at selling it last week best anyone would give him of 7 dealers was 27k and its mint. You might be best to keep it get it repaired and give it a chance cause you are not gonna come out well on this especially once a buyer knows it already had engine issues. I wish you the best. let us know.

that is true.. my tag msrp was nearly 52k for a 2019.... loaded pp1 premium a10... last summer dealers were offering 30k at the most... of course they will resell for mid to high 30's...

 

[thunderstrike]

I think you're finding out the hard way that money spent on a car is rarely if ever an "investment".

My realtor asked me when I bought my house: Are you going to put in a pool?

I said no, asked why the question -- he said "it's a give me."

 

[obspsd]

$77,000 invested. Ouch.

Should of bought a GT350R.

Do you still have all your stock parts to put back on?

 

[Balr14]

You must have liked it enough to spent $10k in mods. Selling it because of a problem that will be fixed under warranty would be an over-reaction.

 

[Cobra Jet]

You should do a Ford Buy Back (Refund option so you can walk away)... the problem is your money tied up in the modifications (hard parts) and the soft parts (protectant film, etc). Ford RAV will not pay out for any mods, but you will get full refund of original purchase price.

You can remove all hard parts and sell separately to try and recoup some of your $$$...

If you did a Ford Buy Back (vehicle replacement), again you’re beat on the cost of mods, HOWEVER, the vehicle replacement works by taking your collateral and swapping it for a brand new Ford product for MSRP to MSRP. So essentially think of it as getting into a brand new vehicle for what you currently owe (IF you have an existing loan) for MSRP.

I’m not going to get into all of the details only because if you search my User ID + the terms “Lemon Law”, “Ford Buy Back”, “Ford RAV”, “vehicle replacement” or “MSRP to MSRP” on here you’ll get a shit ton of ALL the details regarding the Ford Buy Back process through Ford RAV and Lemon Law info. What I have posted with regards to that process is facts; quite a few M6G members have gone through the process successfully on their own using the facts and info provided from those threads.

So with the above said... the one thing with a GT350, GT350R, or GT500 is this:
The word “Shelby” and the words “Limited Production” are synonymous to Mustang, Ford and Shelby Collectors or Enthusiasts. It’s a niche vehicle and when those 3 groups of people mentioned are seeking one, they want a numbers matching Shelby.

Once an engine in an S550 Shelby has been replaced, the following is true:
1) It’s no longer a numbers matched Shelby by VIN. A Ford replacement engine, irregardless if Shelby or not, does not come with the VIN stamped into it as the original engine. Anyone knowing about Mustangs knows where to look for that small but important detail.

2) It has been reported by other M6G members in the GT350 sub-forum that the builder’s Signature plate is not always transferred to the new engine.

3) The vehicle will have the Warranty Repair History in Ford OASIS and ETIS and info relating to what the repair entailed.

4) Diminished value both at the Dealer Trade In and Private Party sale. Any Ford Dealer will run the VIN through OASIS or ETIS, once they see the engine replacement they lowball the trade worse than if the car never had any such repair. Private party buyer if coming from 1 of the 3 groups mentioned will research the VIN as well. Depending on Dealership and reporting techniques sometimes major repairs somehow hit those CarFax, Auto Check or XYZ VIN reports.

The above isn’t to be doom and gloom for the OP, but merely it’s the unfortunate facts.

There’s been quite a few 2020 GT350 engine failures due to dropped valves. Not sure WTF is going on over at Ford lately, but either vendor supplied parts, tolerances, hand build process or just overall QC is flawed.

Dropping $60k+ on a brand new Shelby and then having a catastrophic engine failure is just horrible; it shouldn’t be happening.

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