2018 GT350 Dealership Offer - $37.5k

[Warl]

I went to the dealership here in Corpus Christi, Texas. I was curious on what the dealership would value my 2018 10,800 mile, GT350.

I was blown away. They offered $37,500. I laughed and asked if they were serious. I asked if that was the final offer for it and the salesman said yes.

Did I over value what a dealership would offer for my car? Anywhere I read I see that the value is much higher on the market than what they offered me. This would be my first time actually selling to a dealership so I'm unsure. Obviously they're a business to make money. But 37.5k...

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[TDC]

I am surprised, maybe they weren’t taking you seriously as a buyer or your drive them down hard on the new purchase/lease price so they saw an opportunity to make up for it.

In my experience they are going to sell the car at auction so they want to ensure they make a profit. Trade ins are notoriously low unless the dealer can make money on the other side of the deal (purchase/lease price of the new car) or if they are being incentivize by the manufacturer. Others will have a differing opinion but this is my experience. Sometimes these low ball offers had me walk out the door so they were firm.

 

[Tomster]

I'm not surprised. That's how they make money. If the find a guy who will turn over the keys for that amount, it's a win for them.

Always, always negotiate your vehicle purchase price before considering any trade. Usually the way it works is a great deal on the car, and then a crappy deal on the trade.

 

[Bossing]

They’re lowballing you big time.... these are the recent Manheim wholesale results:

 

[Warl]

I'm not surprised. That's how they make money. If the find a guy who will turn over the keys for that amount, it's a win for them.

Always, always negotiate your vehicle purchase price before considering any trade. Usually the way it works is a great deal on the car, and then a crappy deal on the trade.

Yeah anytime I've traded in a car I got the price they wanted for the car then negotiated my trade in for my vehicle. I've always had them either pay it off completely or a little extra. Never had negative equity.

I already have another car so this one would just be a straight sell with no trade in. I can see how it might lower how much they'd offer for it without trading it for a new vehicle though.

 

[key01]

Maybe you could change your thread title to reflect “dealer offer” or something to that effect? I hate your current thread title

 

[Greg35]

Absurd! Ck Kelly Blue Book for current Trade-In and Private Seller values.
Traded to a dealer in very good cond. you are easily in $45,000-$47,000 range!
Sell youreself in $50,000- $54,000 range.
Also look up Car Gurus, Autotrader....to see asking prices.

 

[BlackandBlue]

This price is low but not extremely low.


https://www.autotrader.com/cars-for...eCode1=FORD&modelCode1=MUST&clickType=listing

https://www.autotrader.com/cars-for...eCode1=FORD&modelCode1=MUST&clickType=listing

https://www.autotrader.com/cars-for...eCode1=FORD&modelCode1=MUST&clickType=listing




I would think the prices of these cars will fall back in line with historian standards as they reach a saturation point in the market. Other factors such as the C8 and GT500 will negatively affect value.

Historically cars lose 20-25% first year and 10-15% the next year on a sliding scale.

 

[key01]

This price is low but not extremely low.


https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=528192293&zip=35801&referrer=/cars-for-sale/searchresults.xhtml?zip=35801&listingTypes=USED&startYear=2018&sortBy=derivedpriceASC&incremental=all&firstRecord=0&marketExtension=on&endYear=2018&modelCodeList=MUST&makeCodeList=FORD&searchRadius=0&trimCodeList=MUST%7CShelby+GT350&listingTypes=USED&startYear=2018&numRecords=25&firstRecord=0&endYear=2018&modelCodeList=MUST&makeCodeList=FORD&searchRadius=0&makeCode1=FORD&modelCode1=MUST&clickType=listing

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=512471136&zip=35801&referrer=/cars-for-sale/searchresults.xhtml?zip=35801&listingTypes=USED&startYear=2017&sortBy=derivedpriceASC&incremental=all&firstRecord=0&marketExtension=on&endYear=2018&modelCodeList=MUST&makeCodeList=FORD&searchRadius=0&trimCodeList=MUST%7CShelby+GT350&listingTypes=USED&startYear=2017&numRecords=25&firstRecord=0&endYear=2018&modelCodeList=MUST&makeCodeList=FORD&searchRadius=0&makeCode1=FORD&modelCode1=MUST&clickType=listing

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=529882075&zip=35801&referrer=/cars-for-sale/searchresults.xhtml?zip=35801&listingTypes=USED&startYear=2015&sortBy=derivedpriceASC&incremental=all&firstRecord=0&marketExtension=on&endYear=2018&modelCodeList=MUST&makeCodeList=FORD&searchRadius=0&trimCodeList=MUST%7CShelby+GT350&listingTypes=USED&startYear=2015&numRecords=25&firstRecord=0&endYear=2018&modelCodeList=MUST&makeCodeList=FORD&searchRadius=0&makeCode1=FORD&modelCode1=MUST&clickType=listing




I would think the prices of these cars will fall back in line with historian standards as they reach a saturation point in the market. Other factors such as the C8 and GT500 will negatively affect value.

Historically cars lose 20-25% first year and 10-15% the next year on a sliding scale.

Dude, only one of those examples is an ‘18 and it’s $47,500. Not sure I understand why you used those examples. Explain?

 

[Tomster]

^^^ just another GT guy. That's all.

 

[svassh]

Anything is only worth what someone else is willing to pay. Cars are historically poor investments. The sheer numbers made devalue a model also.

I paid far more than $37k for my 2018 used and would buy it again today. That's all that matters to me.

 

[BlackandBlue]

Dude, only one of those examples is an ‘18 and it’s $47,500. Not sure I understand why you used those examples. Explain?

I used those examples to show depreciation per what I was talking about.

2018 47,500 for a certified preowned car.
If you get the car for 46,000 OTD
1,500 cost to certify preowned
Auction car would be 3-5% buyer fee
300-400 transport.


That leaves around $5000 in profit for the dealer.
Also take out interest on the dealer loan to hold the car.
Insurance, lot space, and labor for washing and maintaining.
Miles/tires burned off buy salesman and lot guys.
This car could sit for months as sports car buying season is ending in a large portion of the country.

So if your post was a rant I apologize for bringing logic to your rant. I took it more of a question of why the dealer would only offer you this amount.

 

[Greg35]

Really? Lol! Using the brilliant .."sliding scale.." example shared w/ us our limited production FP designed, 100hp/L, repeated 'Best In Class' award winning, track ready!, totally unique DRIVERS' Car with handbuilt 82500rpm FPC engine will lose between 30 - 40% of its value in first 2yrs?? Lololololol!!! Troll elsewhwere!

 

[EcoVert]

Not surprising dealerships will always low ball you so the can make maximum profit when they resale it.

 

[BlackandBlue]

Really? Lol! Using the brilliant .."sliding scale.." example shared w/ us our limited production FP designed, 100hp/L, repeated 'Best In Class' award winning, track ready!, totally unique DRIVERS' Car with handbuilt 82500rpm FPC engine will lose between 30 - 40% of its value in first 2yrs?? Lololololol!!! Troll elsewhwere!

I am lost. Are you saying the dealership didn’t offer him 68% of 55k MSRP?

If 5k worth of boxes were checked that’s 62% of MSRP or 38% discount.

You can argue it should be a few percent high but you are still agreeing with me.

It’s a car. They lose value. Supply and demand will dictate how fast. GT500 is taking some demand. Expect prices revert to mean as the 500 production rolls on.

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