Poor resale value

[nastang87xx]

FWIW, when I traded in my 2011 GT last spring, I got $19,500 for it. I think these cars dip rather fast but then start to level off at a certain point. The dealer put it on their lot for $23K and change. Personally, I thought that was fair. Funny story, I ended up seeing my car again not too long ago and met the guy who bought it. He thanked and hated me at the same time ha. He said he snatched it up for about $22K. He bought it about 3 weeks after it was listed.

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[croyde]

The only car I ever made a profit on was an American one, helped by their rarity over here in the UK.

It was a 2001 Mercury Grand Marquis in brilliant condition with only 36,000 miles on the clock.

I bought it a couple of years ago for £3,200. Ran it for 8 months then sold it, when Ford UK announced the S550 prices, for £4,500.

That was free motoring for 8 months, incl fuel and insurance, even at 12 mpg with petrol at 8 dollars a gallon.

 

[EcoSwag1990]

FWIW, when I traded in my 2011 GT last spring, I got $19,500 for it. I think these cars dip rather fast but then start to level off at a certain point. The dealer put it on their lot for $23K and change. Personally, I thought that was fair. Funny story, I ended up seeing my car again not too long ago and met the guy who bought it. He thanked and hated me at the same time ha. He said he snatched it up for about $22K. He bought it about 3 weeks after it was listed.

This is true. The value will drop steeply in the first couple years of ownership and then level out. The GT actually holds its resale value pretty well after that.

 

[EcoSwag1990]

I would rather very lightly modify this car and then wait until the S650 drops and get that, even if I have to keep the S650 mostly stock to make it financially reasonable. I'd rather have the latest generation with modern performance and tech upgrades, than an old gen with a bunch of mods. Just preference

 

[1mic]

Add Jeep Wranglers, they have good resale value.

As far as mustangs go, it has always been the high end mustangs that got better resale value (Cobra, GT500, maybe even the Boss 302).

GT500's have slowly been going down probably because of the upcoming GT500. GT350 resale is doing stellar. At least you didnt spend 100k on a Vette. 3LZ package C7Z have been dropping, to 80s. Maybe have been able to get a '16 C7Z 3LZ for mid-upper $70k. Insane price!

 

[HoosierDaddy]

The only car I ever made a profit on was an American one, helped by their rarity over here in the UK.

It was a 2001 Mercury Grand Marquis in brilliant condition with only 36,000 miles on the clock.

I almost bought a Mercury Mistress once but CarFax showed it had tested positive for aids.

[ame]http://www.dailymotion.com/video/x359dd_mercury-mistress_fun[/ame]

 

[scotdc]

I disagree with the no resale value, but you have to keep the car for a long while. My last mustang was a '96 I had for ten years and put 160,000 mile on. Sold it the second day for $5000. Much better resale than a comparable Camry!

My latest Mustang is an '05 that I think I can get 9K - 10K for. I only paid 23K 11 years ago. In my book that's great.

 

[sspfox]

Not sure if this has been said, If you hold onto the car for another 2-3 months it will be worth around $1-2k more because of the seasonal price difference with the used sports car market.

 

[1320']

Not sure if this has been said, If you hold onto the car for another 2-3 months it will be worth around $1-2k more because of the seasonal price difference with the used sports car market.

It *could* be worth more.

There's no promise of a value bump.

 

[Mike02z]

Cars are not appreciating assets. If you buy a car assuming good resale, you will be very disappointed. You buy a car because it is what you want to drive.

 

[1320']

Cars are not appreciating assets. If you buy a car assuming good resale, you will be very disappointed. You buy a car because it is what you want to drive.

Bingo.

There are a few appreciating cars, but they are the hyper exotics, IE Veyrons, Enzo's, etc.

People like to bring up the classic muscle cars..that's a really bad example. Hell in the late 70's and 80's you could buy a 440 Six Pack Challenger, a Hemi Cuda or any of the other classic muscle cars for less than a contemporary Camaro/Mustang cost. The surge they saw is NOT typical.

 

[Old 5 Oh]

Aftermarket mods do not add too much value. Maybe 30% of the parts value unless it is highend parts, but even then.

Aftermarket mods can be a negative for a dealer who won't be interested in supporting them or wondering if the car will pass smog.

 

[packerfan]

FWIW, when I traded in my 2011 GT last spring, I got $19,500 for it. I think these cars dip rather fast but then start to level off at a certain point. The dealer put it on their lot for $23K and change. Personally, I thought that was fair. Funny story, I ended up seeing my car again not too long ago and met the guy who bought it. He thanked and hated me at the same time ha. He said he snatched it up for about $22K. He bought it about 3 weeks after it was listed.

Just out of curiosity how many miles were on the 11? Wondering what i would get on trade.

 

[justang]

Bingo.

There are a few appreciating cars, but they are the hyper exotics, IE Veyrons, Enzo's, etc.

People like to bring up the classic muscle cars..that's a really bad example. Hell in the late 70's and 80's you could buy a 440 Six Pack Challenger, a Hemi Cuda or any of the other classic muscle cars for less than a contemporary Camaro/Mustang cost. The surge they saw is NOT typical.

True. However there are a couple of modern non-exotics that are steadily appreciating in value - Toyota Supra and Honda S2000.

 

[Blk2015GT]

Aftermarket mods can be a negative for a dealer who won't be interested in supporting them or wondering if the car will pass smog.

Or even reduce the value because the group of people looking to buy a used Mustang that's been modded 1 certain way is smaller. Most have their own view of mods; look and sound. Another factor is some people dont buy modded used cars because it indicates being beat on.

That's why I typically only lightly mod my cars visually; the rear FRRP decklid and front RTR grills and Roush hood vents can all be removes and stocks put back in. A new spoiler can be on if someone doesnt like the GT350 track pack one. The only stock parts I got rid of was the exhaust and wheels that really cant go back to stock

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