At what point does the 2016-2020 GT350 become age and cost prohibitive?

[BrakeFade]

Any high performance car was probably driven hard so here are my rules for buying a used car. I only buy them from the original owner and the older the owner is the better. Also the wealthier they are the better as they probably maintained the car. I never buy a used car from a dealer or used car lot, you just don't know the history for the most part. So to answer your question when should you not buy, or buy, the car, well it depends on a lot of things. I have a 2018 GT, I'm 75 years old, bought it new, never abused it, and always maintained it. Whoever buys my car when I'm ready to sell is going to get a great car. I'm not sure I would buy the same car from a 20 year old kid who bought it used and beat on it for a couple of years. So it all depends on the owner and how the car was treated.

This reminds me of when I bought an absolute Unicorn 6 years ago. 2002 BMW M5 super rare Boston Green exterior on Caramel interior. Original owner bought it brand new while he was working in Germany and had it shipped back to the US when his contract was up in 2005. Ordered it loaded to the gills and without any M5 badges. Who knew that was even an option???? I flew out to Vegas where he lived, he was an older retired gentleman, had breakfast with him, and drove it back to Dallas. Car had 200K miles but drove amazing. The dude kept a spreadsheet of oil changes, maintenance, and tire pressures over the 17 years he owned it. He had it for sale for a few weeks before I jumped into the E39 M5 market and was shocked no one picked it up yet. He said everyone kept lowballing him but I paid full asking price $10k. I felt like I stole it at that price. In any case, 7 days later a teenaged girl was texting on her phone and hit the car along the passenger side at a stop light. She ran down the entire passenger side of the car. I damn near cried when I got out to asses the damage. Luckily, she had insurance. Car was totaled out by her insurance for $17k. So I ended up making money in the end. But I still wish I had it though. Have only seen 1 Boston Green E39 M5 for sale since and it was rusted all to hell out in Detroit.

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[TonyNJ]

This reminds me of when I bought an absolute Unicorn 6 years ago. 2002 BMW M5 super rare Boston Green exterior on Caramel interior. Original owner bought it brand new while he was working in Germany and had it shipped back to the US when his contract was up in 2005. Ordered it loaded to the gills and without any M5 badges. Who knew that was even an option???? I flew out to Vegas where he lived, he was an older retired gentleman, had breakfast with him, and drove it back to Dallas. Car had 200K miles but drove amazing. The dude kept a spreadsheet of oil changes, maintenance, and tire pressures over the 17 years he owned it. He had it for sale for a few weeks before I jumped into the E39 M5 market and was shocked no one picked it up yet. He said everyone kept lowballing him but I paid full asking price $10k. I felt like I stole it at that price. In any case, 7 days later a teenaged girl was texting on her phone and hit the car along the passenger side at a stop light. She ran down the entire passenger side of the car. I damn near cried when I got out to asses the damage. Luckily, she had insurance. Car was totaled out by her insurance for $17k. So I ended up making money in the end. But I still wish I had it though. Have only seen 1 Boston Green E39 M5 for sale since and it was rusted all to hell out in Detroit.

Moral of the story in regards to the original post... Buy low and collect insurance profit?

 

[BrakeFade]

Moral of the story in regards to the original post... Buy low and collect insurance profit?

yeah I went off on a tangent there

 

[lfunk11]

I have not had my 350 nearly as long as you, but I am so impressed with only 2 splitter replacements for the mileage!
I just put 305/30’s on the front of mine and it dropped the splitter another 1/2”.
Now its only a matter of time..
Cheers,

I got mine in March, I already had to get a splitter. I hope I figured out my driveway, but I am getting lowering springs so I figure a new splitter each year

Any high performance car was probably driven hard so here are my rules for buying a used car. I only buy them from the original owner and the older the owner is the better. Also the wealthier they are the better as they probably maintained the car. I never buy a used car from a dealer or used car lot, you just don't know the history for the most part. So to answer your question when should you not buy, or buy, the car, well it depends on a lot of things. I have a 2018 GT, I'm 75 years old, bought it new, never abused it, and always maintained it. Whoever buys my car when I'm ready to sell is going to get a great car. I'm not sure I would buy the same car from a 20 year old kid who bought it used and beat on it for a couple of years. So it all depends on the owner and how the car was treated.

Those are good rules, but buying a GT350 from the original owner is going to be hard when you also factor in color and options, even harder if you want a '19-'20 with the upgrades, then add in low miles. There are not a ton out there for sale. I had to look for 6 months to find the one I wanted. That included a 6 hour one way drive to get it.

 

[wingnutt]

Those are good rules, but buying a GT350 from the original owner is going to be hard when you also factor in color and options, even harder if you want a '19-'20 with the upgrades, then add in low miles. There are not a ton out there for sale. I had to look for 6 months to find the one I wanted. That included a 6 hour one way drive to get it.

good rules…if one has the time, patience and wallet to accommodate. Those rules literally eliminate more than 50% of the cars on the market, and as you say it’s even worse for a specialty car, but to each his own!

PS…you shouldn’t need one splitter a year, I’m looking for my third after six years and 78k miles

 

[sk47]

good rules…if one has the time, patience and wallet to accommodate. Those rules literally eliminate more than 50% of the cars on the market, and as you say it’s even worse for a specialty car, but to each his own!

Hello; A thing is there are so many among just the members of this forum who post about running their car very hard. Tunes for max HP. Running at 8000 RPM's. Track days. Then there are the threads about catastrophic or near catastrophic issues. I am currently following two active threads about metal in the oil.
A thread from several months ago stopped after a member posted he/she was considering putting their car up for sale. This after finding soon to be fatal problems with the engine. To be a bit fair that member had bought the car from a previous owner who had passed along the problems.

There are many ways to look at older cars. One I favor is to look for a year & model worth whatever it takes to keep it running. Cost as a factor only being when you run out of spare funds, not some investment or resale calculations. Not a very smart point of view in terms of investment.

The pandemic with its unprecedented side effects on the economy did set up some unrealistic long-term expectations. I do get & understand the expectations have held far longer than I figured they would. There was the period during which a used Mustang could be sold for more than the original owner paid. Folks were flush with other people's money and spent freely. I do not actually know that many people thought the good times could continue on and on, but it seems so.
I go thru FB ads a few times a week so often see Mustang ads. Some folks are still asking big for the cars. I am, of course, doing a lot of guessing. A bottom line is if the cars are actually selling at the high prices. Hard for me to judge a fair price on the used GT350's as listed. Then, of course, there is the potential for great expense to repair to consider.

Back in 2008 to 2010 I was shopping for a house. In 2008 & 2009 prices were crazy. Could look at a place then get a call a few days later the asking price went up. I am not trying to say there is a bubble in the prices of some specialty Mustangs as I do not know.
What I do know is a base GT with a manual which I had a shot at for around $30K is now looking to be at around $47 K for the equivalent 2025 left over. Add to that a less desirable car. A thing is this time a year ago I could not secure a left over 2024 for $48K. Could not get close. but I digress. The real bottom line is as long as enough folks will pay the prices will stay high on the old GT350's.

 

[bKennedy]

I got mine in March, I already had to get a splitter. I hope I figured out my driveway, but I am getting lowering springs so I figure a new splitter each year



Those are good rules, but buying a GT350 from the original owner is going to be hard when you also factor in color and options, even harder if you want a '19-'20 with the upgrades, then add in low miles. There are not a ton out there for sale. I had to look for 6 months to find the one I wanted. That included a 6 hour one way drive to get it.

Well if you have a list of things you can't live without it's going to be hard, and when you find it, if you can, you will probably pay top dollar for it. I liken this to picking a wife. Make a list of thing you want and then circle the 3 things you must have, all others are just nice to have. For me, for example, I'm flexible on the color and some of the options. I may want low mileage and a single owner, these are important to me. The pickier you are the harder it is to find a used car or a wife.

 

[lfunk11]

Well if you have a list of things you can't live without it's going to be hard, and when you find it, if you can, you will probably pay top dollar for it. I liken this to picking a wife. Make a list of thing you want and then circle the 3 things you must have, all others are just nice to have. For me, for example, I'm flexible on the color and some of the options. I may want low mileage and a single owner, these are important to me. The pickier you are the harder it is to find a used car or a wife.

I already have one, but there are a grand total of 63 listed on Autotrader within 300 miles of me. Only 2 are from a private seller with one of those boosted/modified and the other with over 30K miles. I think anyone looking at a GT350 should be open to multiple owners because if not, it is going to be hard to find one.

 

[wingnutt]

lol @ the wife analogy…but he ain’t wrong

 

[Geodudes550]

I’d love to get a 350 and have been looking for a couple months but I’m getting increasingly discouraged by some of the insane prices. Some of these one owner low miles 2019-20’s are selling for $70-80k which is just nuts. I have no idea how some people sleep at night asking these prices.

 

[MAGS1]

I have no idea how some people sleep at night asking these prices.

Because people pay it.

 

[sk47]

Some of these one owner low miles 2019-20’s are selling for $70-80k which is just nuts. I have no idea how some people sleep at night asking these prices.

Because people pay it.

Hello; Over the decades when a car company comes out with a new model, especially a sporty model, there will be people paying way above MSRP for a while. Perhaps the Nissan Z is an example of what can happen after that initial surge of over-payers. Currently the new Z's are being discounted heavily at the dealers. Have seen such happen a number of times with other car models.

On the other end of such things are the rare models which appreciate in value as used models. The Honda S2000 comes to mind. The Acura NSX of the early 1990's. The Ford GT of the mid 2000's. So, there have been models which hold and even increase in value over time.
The S2000 & the 90's NSX wound up being driven. I have talked to S2000 owners with near 200K miles on their car. The Ford GT not so much.
The NSX was reported as an all-around driver. I do not know as I never had the chance to drive one. The S2000 was the car with the extraordinary engine that also survived being driven. The Ford GT started being a special garage queen while still in the dealer showrooms.

I do not think cars are exactly like stamps or coins but there do seem to be models of cars intended to be "special" from the get-go. I do not know how much extra profit Ford cleared from selling the GT350, if any. Pretty sure dealers cleared some extra profit as i tried to negotiate on one which had sat on the floor of a dealer in Kingsport TN well over a year. They would not consider an MSRP offer.
Ford wound up paying out for a number of failed engines which may have cut into the profit. The GT 350 did boost the reputation of Ford for sure, so maybe it was worth it to them.

I think of how many special Mustangs have come along over the decades. Even the aftermarket companies get into the game. I am thinking of Roshe. (sp) So we can pick a flavor from among the options. Want a "unicorn" GT350 you may have to flop down $75K. So, yeah. As long as enough will pay the asking price will stay high.

 

[lo-fi]

I've never had any appreciation for collectors because of what they do to the market. They alone cause price escalation at unreasonable rates. All it takes is a few auctions where a pair of competing collectors want a very low mileage automobile and then from that point forward everyone thinks there car is worth somewhere near the same even if it has triple or quadruple the mileage or is vastly different in options. The car then sits in the garage and collects dust.

I'm the opposite, I've always sold my cars at less than market value, not much less, but less. I'm not here to count pennies (or polish my car endlessly while not driving it) and if I was I wouldn't be in the enthusiast car world.

 

[bKennedy]

I agree that anyone that buys a car as an investment that they think will go up in value is risking money that they could have invested and more that likely made a better return. So unless you are a multi-millionaire, like Jay Leno, who buys cars for his collection to enjoy them, you are probably not going to get a big payout at the end. The important thing to remember is that something is only worth what another person will pay for it. I can point out the Beanie Baby craze or the Cabbage Patch Dolls, but a better example is the Dutch Tulip craze of the 1600s. People went crazy for tulip bulbs and they sold for as much as $750,000 for one bulb in todays money. So if you have the money to buy a rare overpriced car you should get it to enjoy it, and realize you are paying a premium because other people want them and the price is being driven up. But remember, market forces change, and just like the housing bubble that crashed, we are only a recession away form collectible car prices coming down like a falling rock. So buy a car to enjoy it but never count on selling it for more than you paid, especially if you put a lot of money in upgrades in the car.

 

[Geodudes550]

I just don’t understand how a car that’s been sitting for 6 years is somehow worth more money when I consider flat spotted tires, dried out seals, and only god knows what mouse has a winter condo in the undercarriage. I get asking for high blue book or even a little higher than that for low miles one owner rare color but some of these clowns act like they should be paid for their service of not driving a car. Maybe when I try to buy one, I’ll neg the car and try to play a fast one.
“Oh if it’s such a great car, why didn’t you drive it? Is it supposed to sound like that? What do you know, you don’t drive it ever. I know you’re asking $85k but I’ll offer you $65k since it seems you don’t even like that car. I’ll do you a favor and get it out of here for you since it’s probably in the way of a good car you’d actually want to drive, unlike this embarrassing POS you didn’t even want to be seen in. Rare color? That’s an interesting way to say undesirable. I mean if everybody wanted it then it wouldn’t be rare right? C’mon guy, now I’m doing you two favors. 65k to have a wife not nagging about the ugly car garage you don’t even drive is worth it I think.”

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