Do Not Buy A Used car!!!!!

[Strokerswild]

I just paid $36,500 a few weeks ago for a 2016 GT Premium. Original sticker on it was over 44K and really well appointed:

I would have sold you my pristine 10,4XX mile '15 GT PP for that.

The used car market is absolutely nuts right now.....

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[Hack]

Well technically speaking every car has a different residual value. Mustang's, STi's, EVO's, Corvette's, the list goes on. But any desirable sports car with low manufactured numbers compared to your everyday car typically have a higher resale value or residual value over time. Look at used STi's, close to 100k, 8 years old, still selling for $25k which is over 70% of the original MSRP. Even prior to the pandemic, Mustangs held their resale value very well. If I do a lease right now on an F150 the 3 year lease residual value is 65%.

I agree with some of this. Mustangs typically fall in value very quickly for the first few years, but other used cars continue to plummet whereas Mustangs have more "intrinsic value" if that makes sense.

 

[w3ab1ak91]

Yes and no. V6s, EcoBoosts, take an initial dive but nowhere near for example a Fusion. If you buy a new Fusion for idk $24k, its worth 65% almost immediately. Whereas 2 years ago, if you bought a 300a Mustang GT for $33k, in a year with 10k miles you could sell it for $29k. Then you have Shelby which ha, yah I think you all know. And the Focus RS.... selling for more than they were new which I get it, they had a short run, limited production, discontinued quickly. And just like Supras from the 90s, and Evos, if you want one and have money, just name your price (to an extant). That being said its all situational. Some cars you should still purchase used, some you're better off buying new IF its available.

 

[ICU812]

Prices are not going to come down for 2-3 years if ever on niche vehicles like a mustang.
Even when the chip issue sorts itself. most dealers will not have the funds to stock much more than sure things, fast movers. So that means trucks and suv's.
The in stock inventory of cars like a mustang will be low, because of that, and more buyers than cars means the prices are not going to drop.
2Nd problem is, dealers now know, people will willingly buy them at msrp or more. and not bat an eye.
It isn't going to get better any time soon.
And once the % rates start going up. used will be more in demand.
I think the days of getting a car for invoice or near it, are all but over for anything but a sales failure model.
And with Ford doing all it can to put anything but a v8 in the F-150's the lower volume of units of v8 engines being installed= higher cost per engine.

 

[shogun32]

And once the % rates start going up. used will be more in demand.
I think the days of getting a car for invoice or near it, are all but over

well then dealers that gladly sell at 2-4% below invoice will end up selling "every" car. For retarded areas of the country, nee CA and other parts of the Left coast, the dealers will attempt to milk it for all they're worth, sure. But competition is a beautiful thing.

The V8 tooling is paid for several times over. The Hybrid truck will also likely use a V8 so the stream will be there. Mustang GT numbers vis-a-vis F150 don't amount to a pimple on an elephant's ass. The incremental unit cost of the V8 is basically static. So short of V8 takeup falling below the level needed to secure long-term contracts, they can keep building them till the heat death of the universe or the administration decides to lean on the scales to deliberate sabotage the economic underpinnings of various offerings.

 

[ICU812]

well then dealers that gladly sell at 2-4% below invoice will end up selling "every" car. For retarded areas of the country, nee CA and other parts of the Left coast, the dealers will attempt to milk it for all they're worth, sure. But competition is a beautiful thing.

The V8 tooling is paid for several times over. The Hybrid truck will also likely use a V8 so the stream will be there. Mustang GT numbers vis-a-vis F150 don't amount to a pimple on an elephant's ass. The incremental unit cost of the V8 is basically static. So short of V8 takeup falling below the level needed to secure long-term contracts, they can keep building them till the heat death of the universe or the administration decides to lean on the scales to deliberate sabotage the economic underpinnings of various offerings.

You missed the economics of scale.
Trucks are moving to v6 turbo's only in 150's on lots. very few v8 150's. and I'd bet ford hybrid truck would be a v6 turbo.
not a v8.
Sure if Ford never updates the v8 from what it is now. the tooling is paid for. This is unlikely.
THe v8 in a mustang already is a 8-10k over the same optioned 2.3L mustang .
I hope the v8 is always an option , but it isn't a cheap one anymore. This limits buyer pools.
I mean a 2020 left over base gt with a few options, sticker at the dealer I bought mine at, was 46k, selling it for 41k.
THis has priced many that love a pony out of the market.
Face it the mustang was aimed at youth market. The v8 gt has priced itself out of that market and into empty nesters ,or those that have family but can swing a extra fun car.
The camaro and dodges are in same boat, when v8 powered.
only the dodges can be used as a family car. The back seats in the mustang are a paper weight and only useful for kids under 5' tall .
Maybe it is different in other parts of the country, but here, 95% of the new f150's are 2.7v6 or 3.7v6 powered. very few have the v8.
in 2019 when I was buying a truck, a dealer with 150+ f150's had 2 v8 f150's out of the over 150 on the lot.

 

[shogun32]

rucks are moving to v6 turbo's only in 150's on lots

work truck orders are not placed on lots where you'd see them. Yes the 'idot' consumer/pretend-coyboy is buying into the twin-turbo false-equivalency.

Sure if Ford never updates the v8 from what it is now. the tooling is paid for. This is unlikely.

there hasn't been a tooling change since 2018 and the crank, case, cylinders haven't usefully changed since the inception of the Coyote.

THis has priced many that love a pony out of the market.
Face it the mustang was aimed at youth market.

you got industry post-sales figures to back up either assertion? The only mustang that was aimed at "youth" was a 10+yr old clapped out example. I doubt 18-25 are an outsized percentage of new buyers.

 

[Crowd Hunter]

Vroom bought my car for almost $42k and now they've reduced the price to $39,499. That car has the Ford calibration kit, Koni Yellow shocks, BMR handling springs, and a Barton shifter. Someone will get a nice car.

https://www.vroom.com/inventory/1FA6P8CF3K5141841

 

[Smunczen]

Vroom bought my car for almost $42k and now they've reduced the price to $39,499. That car has the Ford calibration kit, Koni Yellow shocks, BMR handling springs, and a Barton shifter. Someone will get a nice car.

https://www.vroom.com/inventory/1FA6P8CF3K5141841

Wow nice car somebody will get a good buy in that one. It’s still new.

 

[Crowd Hunter]

Wow nice car somebody will get a good buy in that one. It’s still new.

Yep, and I never beat on it. It was a garage queen. I never even did a burnout. :-(

 

[LSchicago]

Vroom bought my car for almost $42k and now they've reduced the price to $39,499. That car has the Ford calibration kit, Koni Yellow shocks, BMR handling springs, and a Barton shifter. Someone will get a nice car.

https://www.vroom.com/inventory/1FA6P8CF3K5141841

Prices are dropping. By next year this will all be a memory.

 

[Bikeman315]

Prices are dropping. By next year this will all be a memory.

I certainly hope you are right. But this will only happen if the root cause of this situation goes away. Right now the opposite is happening so this could go on for awhile longer.

 

[ICU812]

work truck orders are not placed on lots where you'd see them. Yes the 'idot' consumer/pretend-coyboy is buying into the twin-turbo false-equivalency.
Fleet sales are a different ball of wax, No one buying a F-150 for themselves is buying a stripper, again there were 2, v8 f-150's that a customer, not a fleet buyer. would bother looking at TWO.


there hasn't been a tooling change since 2018 and the crank, case, cylinders haven't usefully changed since the inception of the Coyote.
Again, like I said, unless ford never plans on updating their v8, the tooling is paid for. But I highly doubt that is the case, Ford has never been shy about changes to their engines. And the v8 in production is about due for Ford to change things. I mean it is already on it's 3rd gen.

you got industry post-sales figures to back up either assertion? The only mustang that was aimed at "youth" was a 10+yr old clapped out example. I doubt 18-25 are an outsized percentage of new buyers.
the mustang was AIMED DIRECTLY at the youth buyer starting in 1964.5 and stayed that way till the end of the fox body. A lx 5.0 was cheap fun. what does a v8 mustang start at now? It has priced itself out of the intended market pool.
A v8 mustang with nothing is a 700.00 + a month car , and with what insurance company charge young drivers. It is out of reach of most, heck I make good money, But a gt prem is 50-52k before this chip mess. To me that is nuts.[/B]

 

[shogun32]

the mustang was AIMED DIRECTLY at the youth buyer starting in 1964.5 and stayed that way till the end of the fox body.

nobody cares what USED to be the case 30 years ago. The youth weren't even born then.

A v8 mustang with nothing is a 700.00 + a month car ... But a gt prem is 50-52k before this chip mess

30-35,000 for a run-of-the-mill 4-door sedan is unfortunately where we're at. In that regards a GT is priced within reason. Yes buying a 'premium' trim Mustang (which has historically been a cheap-shit stripper car with too much motor) is crazy.

 

[ICU812]

I certainly hope you are right. But this will only happen if the root cause of this situation goes away. Right now the opposite is happening so this could go on for awhile longer.

Niche vehicles are different to vehicles that people buy to daily.
Buyers of cars like a mustang, can wait out the storm. And clearly have, so the prices start to drop.
Vehicles that people daily, or need for work, might take longer. As many of those buyers are replacing a totaled unit, and can't wait out the storm.

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