Dealer wants to buy my Mustang

[bluebeastsrt]

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

Maybe dude has money and isn't broke like you? One thing I've learned is not to assume other people's financial situations. You probably didn't like that I assumed your broke right?

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[Mikepol2]

In my experience it’s dealer dependent but unpredictable when it comes to trade in values. Bought my wife a new Chevy Traverse last month and traded her 2017 with 22K miles. Traverses are pretty popular and Chevy isn’t offering much incentives. Went to 2 dealers with identical new cars on the lot and said I want $X off sticker and $21K trade. Both said OK to the $X off sticker. Dealer 1 said best we can do is $18.5K trade. Went straight to dealer 2 and in 2 hours was driving the new car home with $21K trade.... just gotta find a dealer who feels like selling that day I guess.

 

[Pilafiction]

As of a month or two ago there's a huge used car shortage. These mailers are almost always a sales tactic, but with covid there's potential for a deal.

I was shopping my 2017 ecoboost and had multiple Ford trade-in offers for ~15.5k. I listed online and was approached by a Ford dealer who paid me $18.5k outright (not a trade in).

I purchased a 2015 Mustang GT with Carvana in November 2019. They purchased my 2015 Mustang Convertible, V6, in trade as part of the deal... And they paid $3k-$4k more than a few local (NY) dealers were offering. Carvana will give you a firm offer based on your vin number etc...no bullshit at all.

I found them awesome to work with...$1,000 discount for Black Friday when deal was 90% done week prior, great deal on my trade in, and my '15 GT was exactly as advertised. Good luck

 

[vanquishvzla]

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.

This!!!! i tried to buy some mustangs at the auctions and the prices are crazy!!!! like i showed to other friends with dealership too and they said as joke "those are henry ford sr mustangs or what?" ...

2015 EB 33k miles, the bid was at $20600 and mmr was only 18600
2014 gt premium 36k miles, 26k bid
2011 gt 65k miles bid was $21250!!!!!!!!!!!!!!!!!!! mmr is only 12550

and that wasn't on mustang only... f150, mercedes, etc... everything was going on retail or more... and if you add auction fees, transport, detail, any repair you may need... how much can you ask for the car? banks will pay you based on value, not cost..

usually i will tell the OP, nah, we don't want your car, i want to sell you want! but looking at this numbers at auctions, yeah, i'll prefer to pay 19k cash to a customer or pay 20k if he is trading in for something else, than paying 23k at auction for the same car...

 

[Takeshi]

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 tried plugging in mines into Vroom and Carvana . 2018 with 26.8k miles fully loaded GT Premium with 401A, PP1, Magne, Recaro, Shaker Pro, Active Exhaust, Safe & Smart plus Orange Fury Tri Coat and they both only offered me 25k . Is this a realistic for depreciation to be more then 50% in under 3 years?

 

[Balr14]

Maybe this would be a good time to sell my GT. It doesn't get driven and it seems a shame to just let it sit there.

 

[Alan2955]

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 KBB when I traded my 2014 mustang V6 Premium convertible on a used 2020 EcoBoost convertible. The 2020 was only 7 months old with 13,000 miles. Original list was 44,500. It’s loaded except no performance goodies. Even has the safety package, and 19 inch wheel and stripe package, plus the highest grade interior with all digital cluster. Very unusual to get these on a former rental. I got it for 28,000 minus my trade . Not bad given the equipment and lots of warranty left. Mustang convertible depreciation is horrendous the first year. I’d never ever buy a new one.

 

[Balr14]

I tried plugging in mines into Vroom and Carvana . 2018 with 26.8k miles fully loaded GT Premium with 401A, PP1, Magne, Recaro, Shaker Pro, Active Exhaust, Safe & Smart plus Orange Fury Tri Coat and they both only offered me 25k . Is this a realistic for depreciation to be more then 50% in under 3 years?

Just for grins, I tried my 2018 GT premium convertible with 13k miles on Carvana.... same offer as yours.

 

[Alan2955]

I tried plugging in mines into Vroom and Carvana . 2018 with 26.8k miles fully loaded GT Premium with 401A, PP1, Magne, Recaro, Shaker Pro, Active Exhaust, Safe & Smart plus Orange Fury Tri Coat and they both only offered me 25k . Is this a realistic for depreciation to be more then 50% in under 3 years?

Probably so. Remember they are paying you well under retail. I just bought a used 2020 EcoBoost premium plus convertible with the best interior package, safety package and upgraded 19 inch wheels and stripes. Original list 44,500. Paid 28,000. It was 7 months old and 13,000 miles. If I traded it now I’d be lucky to get 25,000. That’s over 40% drop from list and still a current model year car, No way I’d buy a new one! And I could easily afford it. I’m just not taking that beating.

 

[Melty]

I tried plugging in mines into Vroom and Carvana . 2018 with 26.8k miles fully loaded GT Premium with 401A, PP1, Magne, Recaro, Shaker Pro, Active Exhaust, Safe & Smart plus Orange Fury Tri Coat and they both only offered me 25k . Is this a realistic for depreciation to be more then 50% in under 3 years?

That's crazy, considering mines is a base. I have a few options such as adaptive cruise, black accent package, active exhaust, and safe & smart package. Maybe manuals are more desireable on Carvana? I don't see how they offered you ~9k less than mine as I'm sure the MSRP for your car is a lot more. Vroom offered me 28.5k so the Carvana offer is definitely a LOT higher.

 

[FreePenguin]

That's crazy, considering mines is a base. I have a few options such as adaptive cruise, black accent package, active exhaust, and safe & smart package. Maybe manuals are more desireable on Carvana? I don't see how they offered you ~9k less than mine as I'm sure the MSRP for your car is a lot more. Vroom offered me 28.5k so the Carvana offer is definitely a LOT higher.

How much was msrp on your car?

I got an offer of like 22k for my eb. It was msrp 34k

 

[Melty]

I believe MSRP for my car was ~41.5k around there.

 

[Takeshi]

That's crazy, considering mines is a base. I have a few options such as adaptive cruise, black accent package, active exhaust, and safe & smart package. Maybe manuals are more desireable on Carvana? I don't see how they offered you ~9k less than mine as I'm sure the MSRP for your car is a lot more. Vroom offered me 28.5k so the Carvana offer is definitely a LOT higher.

My MSRP is new in 2018 was 55.6k. I am having chills over this, unless Vroom and Carvana hate dealing with California b.s, if so I can't blame them for all our regulations .

 

[IrishStallion]

Lol. Everyone gets those.

 

[oneheadlite]

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

Last couple vehicles I've bought, the salesmen have insisted
that we use their money instead of ours; ie financing......
I've had the title for my '17 GT since the first month, so it wasn't
financed. My toy; not my wife's.

Her '12 Escape and then her '17 Jeep were financed, 0/0 financing, along
with my '15 Camaro.

It is financially sound to use someone else's money.
I was ready to finance the Grandson a new Mustang, but he didn't
like the new body style.
He also wanted a Grabber Blue, in the S197 style and I wanted
to put the car in his name. (so my daughter couldn't sell it)

Now, my Harleys were paid for before I left the dealer.......................

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