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Best method to sell 5.0 Mustang?

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Hey, to keep things short I'm selling my girlfriend's 2020 GT Mustang premium in rapid red with a 10-speed auto, and black accent package. It only has 22k miles, the only mod is an aftermarket Borla Catback, and one incident where someone keyed the car.

I went to CarMax and they offered 33k for the car. So far online I've seen my car go from 36k to 40k+, so is it a good idea to sell this car through Carmax? If not, what is the best way to get the most money for this car?
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SlowyoteJay

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Carvana usually pays better than carmax. If youā€™re not in a hurry, Iā€™d try Facebook market, cargurus, Craigslist etc. Of course beware of scammers
 

Lgb0250

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I always compare Vroom, Carvana and Carmax quotes online. Carmax has been better the last couple of times but I ended up selling both times to a local Lincoln dealer. He beat the highest offer from any others by $500. Cargurus is a joke. Everything is slanted toward dealers, not the private party seller. I actually found my Lincoln dealer off an auto trader.com ad.I had placed. You can also try cars.com Of course everything depends on your timeframe.
 

TrackMustang

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Youā€™ll get the most money if you sell private, but then you have to worry about finding someone with $35k+ in cash, and that the cash is realā€¦ nothing worse than trying to deposit $35k and the bank teller saying itā€™s counterfeit money.

Vroom made a good offer on my car a little while back-
 

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Mspider

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Of course you will always get most amount of money private sell, but its more of a hassle. With a dealership it makes the process a lot easier but you typical will get less money.

Over the past few years I sold a few cars to carvana and so have friends. I also have a friend and my sister who got offered more money just selling it back to dealership they bought it from. My advice would be to check out a few places.
 

DUFF TT

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I bought my Mustang off Facebook marketplace after a recommendation from a coworker. I had been looking at autotrader, carmax, craigslist, and BaT, and wasn't happy with the selection. To my surprise, Facebook marketplace had a ton of vehicles listed I hadn't seen anywhere else. Not a bad spot to drop your ad.

Edit: As others have mentioned, selling private party is definitely tricky. The guy I bought my car off of gave me several stories about people wanting to finance the car over 4 years with him, trade him a combination of cars, paddle boats, and kayaks, etc.. I was a cash buyer, and the first cash buyer he had met in person.
 
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BimmerDriver

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Selling a car yourself is always a pain. And it seems to have gotten worse.

I sold my previous GT to Carvana back when the market was stupid crazy. Right now it's just stupid. :frown: Getting a quote from them takes only a few minutes.

Also try CarMax, and definitely try your local Ford dealer. Yes, it will take a few hours to do that, but that's less time and hassle than dealing with individuals.

If comparable cars are selling/asking prices of 36, then 33 is certainly a fair number.
 

KingKona

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Youā€™ll get the most money if you sell private, but then you have to worry about finding someone with $35k+ in cash, and that the cash is realā€¦ nothing worse than trying to deposit $35k and the bank teller saying itā€™s counterfeit money.
LOL!!!!! No.

It doesn't matter where anyone would be getting the money, that's their business. No one is bringing tens of thousands of dollars in actual cash, you demand a cashier's check. You do the transaction for the car AT YOUR BANK, and it's easy and clean.

My word....everything is such drama these days.
 

TrackMustang

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LOL!!!!! No.

It doesn't matter where anyone would be getting the money, that's their business. No one is bringing tens of thousands of dollars in actual cash, you demand a cashier's check. You do the transaction for the car AT YOUR BANK, and it's easy and clean.

My word....everything is such drama these days.
The world is a crazy place these days
 

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KingKona

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Jasonb543

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Take the 33k and move on.
The dealers are paying more than the private market will.

I have cash and am in the market.. say I wanted exactly your cars spec too... I'm paying 28k tops, esp. Heading into winter with 7 gen on the way... closer to 25k next year.
 

Mspider

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Take the 33k and move on.
The dealers are paying more than the private market will.

I have cash and am in the market.. say I wanted exactly your cars spec too... I'm paying 28k tops, esp. Heading into winter with 7 gen on the way... closer to 25k next year.
Funny just today I wanted to see what my local Ford dealership would buy my car for. Spoke to a person over there and they gave me a ridiculous offer. Might sell it tomorrow šŸ˜¬ and order a different spec.
 

Balr14

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Dealers are often the best place to sell. They know they have to compete with Carvana/CarMax/Vroom.
 

nustang

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in canada I used canadian black book for resale and trade in values.

Dealers will generally try to low-ball you ... but over the years I find they generally will match the blackbook high trade in value, and in some circumstances up that if you car shows well or is a popular model.

roughly add 30% to trade in value for resale.

if you want a quick sale list it privately in the middle of that range.
Your car is worth trade in value plus the local tax credit you dont have to pay when you use it as a trade.

so never sell at blackbook trade-in unless your are actually trading.

low-ballers are usually dealers trying to buy it from you at wholesale ... why would you let it go so low?
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