Dealer wants to buy my Mustang

[GrabberBlue5.0]

So think of it like this: if you want to get a new car, go see how much yours is worth. You aren't obligated to anything if you feel they low ball you.

From what I have seen, there is something to this used car shortage. I just got an Explorer ST (MSRP $58k, dealer price was $49k without me negotiating a dime) and I traded a 2018 F150 STX (the truck was a lease). I rolled $5k negative equity into the truck when I got it and I still got $1500 positive equity when I traded it in after having it for around 22 months.

Sponsored

 

[mustanghammer]

There is a legit shortage of used cars in the market I live in. I am seeing used Mustang 16-17 GTs optioned just like mine with 30-40K miles listed for the same money I paid for my 17 when it was new. The used truck market is just as bad with lot queens increasing in price since the April-May time frame. There were some deals to be had when the lock downs started, but that is over now.

 

[Norm Peterson]

I'm still getting similar letters . . . asking me about trading my 2008 GT. Been getting them from time to time for the last several years, at least one this year that I know of for a fact.


Norm

 

[Justpassingas]

Wait, you're 62 and are looking to get into a payment? I think you still have some learning to do...

At 62 I’ve learned to work hard and save which enabled me to retire early...you must have the missed the part where I mentioned I have a nice nest egg and won’t be the richest guy in the cemetery.

 

[Justpassingas]

I was curious and plugged my car into Carvana. They offered me 34k for my 2019 Base M6 GT with 10k miles. I'm shocked at that offer, I thought it would be ~30kish honestly.

I plugged mine in yesterday and they offered $12...k...definitely expecting more then $12k...KBB has trade in around $18k give or take

 

[GrabberBlue5.0]

I plugged mine in yesterday and they offered $12...k...definitely expecting more then $12k...KBB has trade in around $18k give or take

I checked Carvana and Vroom, one of them gave me a $24k trade in and the other a $28k trade in value. KBB had me around $31,500. Ultimately I got $32600 for my truck at a dealer, and I did it all through email so I never had to set foot into a dealer until I felt like I was getting a good deal. Talk to a few dealers and see who gives you the best deal. Don't be afraid to travel up to 200 miles to a dealer that will work with you if necessary.

 

[ramairgt1]

3 dealerships called me wanting my '18 F-150. I ended up selling it to a dodge dealer for more than I paid for it 2 years ago. They told me there was a shortage of used trucks and I did not buy anything from that dealer They listed it for 3k more than they gave me and sold it the next day.

 

[Briebee72]

I plugged mine in yesterday and they offered $12...k...definitely expecting more then $12k...KBB has trade in around $18k give or take

The problem with KBB is NO ONE not one single dealer goes by that price. I dont even bother looking at KBB cause no one on this planet wil give you that price. The only time any dealer says well we will give you blue book, its at the lowest value and then they make the new car more. They work by margins dealers do . you are watching the right hand they are stealing with the left. No one gets a deal ever they just think they do. no matter what you paid or I paid. what we got for trade ext. i bet if you sat daown and looked at the profit margin the dealer made its the same. they just play with the numbers.

example, my girlfriends nissan juke. KBB says its worth 12 trade and 16 privet party. HA good luck getting that for it. we went around to 12 dealers most any one would give was 9k . then a few months later there were these we give blue book values for trades deals.. we went around again. dtil every single dealer found a way to only give low blue book and then the cars we had ben looking at we no longer on sale. so yeah they gave a bot more for the trade but no the new cars were also more. You are not gonna win or get a deal period. they make you think you have so you feel happy and your ego is in tacked but you are not getting one no one does.

 

[GrabberBlue5.0]

The problem with KBB is NO ONE not one single dealer goes by that price. I dont even bother looking at KBB cause no one on this planet wil give you that price. The only time any dealer says well we will give you blue book, its at the lowest value and then they make the new car more. They work by margins dealers do . you are watching the right hand they are stealing with the left. No one gets a deal ever they just think they do. no matter what you paid or I paid. what we got for trade ext. i bet if you sat daown and looked at the profit margin the dealer made its the same. they just play with the numbers.

example, my girlfriends nissan juke. KBB says its worth 12 trade and 16 privet party. HA good luck getting that for it. we went around to 12 dealers most any one would give was 9k . then a few months later there were these we give blue book values for trades deals.. we went around again. dtil every single dealer found a way to only give low blue book and then the cars we had ben looking at we no longer on sale. so yeah they gave a bot more for the trade but no the new cars were also more. You are not gonna win or get a deal period. they make you think you have so you feel happy and your ego is in tacked but you are not getting one no one does.

I got over KBB on my 2018 F-150

 

[LxMike]

When I was in Florida my buddy got a mailer and told us it said he's get a $20 gift card just for coming in to there tent sale. They kept him there for an hour trying to sell him something before they finally gave him the card.

 

[BimmerDriver]

All those emails and letters are sales tactics they don’t actually specifically want anyone’s vehicle it’s just to draw business in.

In normal times yes, but I got well over what I was offered just 1 year ago for my car, many others are getting very high offers on carvana for their trade in, dealers here have no used GT's on the lot... Even new ones are scarce right now.

Both @Louk and @stangman638 are correct. There was an article in the Wall Street Journal last week about this - dealers are having a hard time finding decent low cost used cars, and are often paying far above normal to get them.

Thanx for the feedback...I know things are slow and it’s a sales pitch....I’ll add to the story...retired 2 months ago @ 62 and I have a nice nest egg to spend...don’t watch to be the richest guy in cemetery so a $500 mo payment won’t break the bank...like I said no rush and if I don’t like the numbers I’ll sell it privately.

Nice to be retired so young! Congrats on that.

Ideally, we should be buried with our last $20 paying for the pine box. Remember guys: the one who dies with the most toys, wins.

 

[Briebee72]

Both @Louk and @stangman638 are correct. There was an article in the Wall Street Journal last week about this - dealers are having a hard time finding decent low cost used cars, and are often paying far above normal to get them.

HUmm again I take things like that with a grain of salt. why is there al off a sudden a drought of used cars? come to my neck of the woods I bet we have 20k used cars all over this town there are used lots everywhere. Also Hurtz rent a car (i think it was) had so many cars sitting on a old airfield in Florida they didnt know what to do with, it magically caught fire one night and all 3k cars were destroyed. And I just saw where some other rental car company has like 1.2 million cars they are trying to get rid of.. Its sorta like the "coin shortage" where did it go? is it in everyone couches? same with cars last month there were so many used cars no one knew what to do with them all and now all of a sudden there is none? drive through any town the used lots are full. we also have 2 auto auctions down here that are slammed with 1000s of cars. I just dont see it. I think its just more hoo doo crap to milk us more like everything else the last few months.

 

[GrabberBlue5.0]

HUmm again I take things like that with a grain of salt. why is there al off a sudden a drought of used cars? come to my neck of the woods I bet we have 20k used cars all over this town there are used lots everywhere. Also Hurtz rent a car (i think it was) had so many cars sitting on a old airfield in Florida they didnt know what to do with, it magically caught fire one night and all 3k cars were destroyed. And I just saw where some other rental car company has like 1.2 million cars they are trying to get rid of.. Its sorta like the "coin shortage" where did it go? is it in everyone couches? same with cars last month there were so many used cars no one knew what to do with them all and now all of a sudden there is none? drive through any town the used lots are full. we also have 2 auto auctions down here that are slammed with 1000s of cars. I just dont see it. I think its just more hoo doo crap to milk us more like everything else the last few months.

I would imagine with all of the factories shut down for months, and now restarting production at partial scale, would be causing a car shortage. people getting stimulus checks and making more money on unemployment would mean there are just as many if not more people with the means to buy a new car... or used car.

 

[IPOGT]

There is a legit shortage of used cars in the market I live in. I am seeing used Mustang 16-17 GTs optioned just like mine with 30-40K miles listed for the same money I paid for my 17 when it was new. The used truck market is just as bad with lot queens increasing in price since the April-May time frame. There were some deals to be had when the lock downs started, but that is over now.

The original 550's seem to hold value well. Maybe better than the 18+.

 

[cdq85]

Believe me...if you guys are wanting to get a new car, now is the time to do it. Wholesale values are through the roof. I am struggling to keep pre-owned on my lot. I'm paying damn near retail value just to buy cars to put out.

Sponsored