BULLITT Resale Value

[danno1]

Hey folks
Being a Bullitt admirer and also being a gt350 admirer previously, I'm looking at the way "I perceive" how much the Bullitt is dropping for resale value. It seems the GT350 has a better resale than the Bullitt does? I may be wrong but I see almost a 10K drop on a lot of 2019 Bullitts. I am also considering if I do get a Bullitt, it would be the last year, 2020 for better value later.
What say you?

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[I Bleed Ford Blue]

Take away the green paint and the bullitt is just a GT with the PP1 and the ford racing stage 2 power pack, so resale should be around the same as loaded GT PP1. The 350 has better brakes, better suspension, different engine with 66 more hp than a GT so of course it's resale is going to be a lot more than a bullitt or GT

 

[danno1]

Take away the green paint and the bullitt is just a GT with the PP1 and the ford racing stage 2 power pack, so resale should be around the same as loaded GT PP1. The 350 has better brakes, better suspension, different engine with 66 more hp than a GT so of course it's resale is going to be a lot more than a bullitt or GT

So the latest Bullitt series would fall in the same category as previous model Bullitts I assume. Previous models have no value more than a GT that year.

 

[Tony Alonso]

So the latest Bullitt series would fall in the same category as previous model Bullitts I assume. Previous models have no value more than a GT that year.

Not quite accurate - depending on condition and mileage, those cars are currently fetching a bit higher price than the GTs. You might see cars where the differences are in the range of $1000-$3000 more. This assumes they are closer to stock.

Regarding the current Bullitt, I am seeing used car prices creep up some on the '19s now. About a year ago, they were under $40,000 in some cases. Now I am seeing above $40,000. I attribute this to the general uptick in the used car market because of the pandemic.

The GT350 is a different beast because of its engine and handling capabilities, and the selling prices I've seen seem to reflect that as compared to the Bullitt.

I feel there's enough differentiation in the Bullitt with the look, the exhaust sound, and engine performance as compared to the GT that it's worth the extra money to me.

 

[danno1]

Not quite accurate - depending on condition and mileage, those cars are currently fetching a bit higher price than the GTs. You might see cars where the differences are in the range of $1000-$3000 more. This assumes they are closer to stock.

Regarding the current Bullitt, I am seeing used car prices creep up some on the '19s now. About a year ago, they were under $40,000 in some cases. Now I am seeing above $40,000. I attribute this to the general uptick in the used car market because of the pandemic.

The GT350 is a different beast because of its engine and handling capabilities, and the selling prices I've seen seem to reflect that as compared to the Bullitt.

I feel there's enough differentiation in the Bullitt with the look, the exhaust sound, and engine performance as compared to the GT that it's worth the extra money to me.

OK. Could I assume buying a 2020 Bullitt would be a better choice for resale than previous 18s,19s,?

 

[Tony Alonso]

OK. Could I assume buying a 2020 Bullitt would be a better choice for resale than previous 18s,19s,?

Whether it's '19 or '20, I don't think one would be more valuable than the other in resale from that aspect alone. Mechanical condition, appearance, stock vs modified, will likely play a bigger role. The changes between '19 and '20 are small.

 

[danno1]

Whether it's '19 or '20, I don't think one would be more valuable than the other in resale from that aspect alone. Mechanical condition, appearance, stock vs modified, will likely play a bigger role. The changes between '19 and '20 are small.

A lot of times getting the last year of a certain vehicle is more desirable, though. Probably not so much on this car.

 

[Strokerswild]

My guess would be that the S550 Bullitt would depreciate as expected but still retain a premium over an otherwise equivalent GT. As it should, since it did to begin with.

When you start looking out further, things get a little more cloudy. I know a couple of guys that work for a local collector car dealer, and from what I’ve seen over the last two years or so the ’08-’09 Bullitt values are definitely on the rise. They are getting thousands over typical book value for low-mile, original Bullitts of this vintage. For example, they recently got in a 6,600 mile ’08 and slapped $35K on it, and it was gone in about a week. I’m not sure of the actual sale price, but you get the idea as they book nowhere near that. I’m sort of kicking myself for not hanging onto my ’09 lately.

The outlook might be pretty good for the S550 iteration given enough time.

 

[Steve68Cougar]

I did quite a bit of looking at the used market in December and January. Bullitts pretty much listed for $43k-$47k for an under 10k mile '19. If they had high mileage or damage then they would go a little lower, but there were very few listed for under $40k. That doesn't mean you couldn't talk them down to that range, but it's at least a reference point. As Tony said, Bullitts tend to keep a little more value than an equally equipped GT. Not a lot, but a little. I had talked with a dealer about them trading for a '19, and after a few weeks he said the cheapest deal they could find would have been in the $45k range. The Shelby is more expensive in numerous ways beyond the initial cost, such as repairs and insurance. They're definitely superior from a performance standpoint, and the name alone helps with resale from a collectability standpoint. If you can find a nice '19-'20 Bullitt for under $40k now, you're probably doing pretty well.

 

[coltgus]

I was surprised that I'm not buried in my car. I put zero down and took the 84 month 0% loan. I didn't make any payments the 1st 3 months. So now after having made 9 payments of $597 I owe about $44k which is about what my car is worth since I only have 3200 miles on it. The used prices have definitely increased probably because of covid.

 

[givemeadollar]

Hey folks
Being a Bullitt admirer and also being a gt350 admirer previously, I'm looking at the way "I perceive" how much the Bullitt is dropping for resale value. It seems the GT350 has a better resale than the Bullitt does? I may be wrong but I see almost a 10K drop on a lot of 2019 Bullitts. I am also considering if I do get a Bullitt, it would be the last year, 2020 for better value later.
What say you?

The bullitt will have a worse resale than a nicely optioned mustang gt. And the gt350s if its not an R with 0 miles is not going to be anything special since the voodoo motors in them are known to have a lot of issues. And any potential collector that sees miles on a sports car is going to run away faster then you can blink.

 

[Cobra Jet]

All S550’s are going to drop in value 5-10 years out after initial production - it’s normal depreciation.


Bullitts and standard S550 GT350’s are by no means “rare”. This isn’t meant as a jab at anyone who owns such a model - it’s just facts. Ford produced too many units of the Bullitts (2 years) and standard GT350s (6 years) that even though limited editions, they were “cookie cut” and not anything out of the ordinary.

Take a look at the big picture regarding the Shelby’s and Bullitts.

We all know “Shelby” is synonymous with collectors from all eras and all ages. Bullitts are a niche Mustang, it always has been - it appeals to Bullittheads and Steve McQueen fans (myself being one).

Let’s just talk S550 GT350’s - excluding the R’s and the HEP for this specific reply.

Being around the Mustang platform since the early 80’s, I’ve watched the values on certain models not just from the 80’s forward, but when the Classics weren’t so “classic” and were, of the time, just another Mustang as is the S550.


Resale value is determined by a vast number of things. Aside from the actual car, there’s too many other external factors to discuss so we’ll keep it to just the car.

What will determine future value of a standard S550 Shelby GT350:

1) The lower of production units per year. As some of you know, certain years had less units built than others. Values on smaller annual production runs will always trump those of larger production runs.

2) The lower (or lowest) surviving Build # that a buyer seeks or becomes available. The same will hold true for the “last” build # in a production year or series. Some Shelby buyers will hold out to possibly getting a lead on a lower Build # as opposed to one that was in the middle or a higher build # within any given year or series. Some just don’t care about this aspect and just want a Shelby.

3) If the vehicle is totally numbers matched (ie: no engine replacement). An all numbers matching Shelby will always fetch a higher premium than one that is not. There’s plenty of threads on this subject so we’re not going to hash it out here.

4) Vehicle documentation + Shelby specific Owner supplements :
Does it have ALL of it, as it was delivered off the truck from the factory and not discarded by Dealer vehicle Prep? Along with documentation, any repair orders, maintenance, etc. are usually sought after historical docs.

5) Mileage and Mothballism:
Lower mileage is usually preferred by some Buyers (and Collectors) but not a factor for all. Mothballism is taking the car directly from the truck to storage - where dealer prep is declined by the Buyer and the car is stored as is, kept with all protective plastics in place with all labels, stickers, docs etc as it was from the factory.

6) Exterior and interior:
Rarity of color combos for both, total production counts of each combo and total option breakouts As Built (or in some cases, less options As Built). IMO, color choices for exterior/interior are based on emotions - you want it or don’t. Some Buyers/Collectors will also zero in on the rare As Built features where a prior Owner “got it all” or some zero in on a “base” model where the prior Owner didn’t want all of the bling.

7) Completely accident/damage free. Any VIN reporting agency, OASIS or ETIS reports to back up vehicle history reference source.

8) Number of owners. Not a big deal to some, but others buying these vehicles in the future will be looking for minimal ownership (which will coincide with item #5 above).

9) Modified or not. Again this is subjective and personal choice, but does play a role in value.

10) Did original Buyer pay ADM? We all know what it Is, but it can play a role in future state. Some Buyers turned Sellers will try to recoup as much $$ as they can when selling a vehicle like a Shelby - because of course it’s “limited production” and “it’s a Shelby”. Sadly, most who did pay excessive ADM usually won’t see any returned gains to profit OR breaking even IF their Shelby is “just another Shelby”. Go back and review items 1-3 to determine if ADM will ever be recouped.

11) Supply and demand

12) The next best and newest must have Mustang that comes next... everyone has to have it and everyone will dump what they have to get it.

It’s not that a Shelby will be worth more than a Bullitt or visa versus, it’s just that each car appeals to a certain group of Enthusiasts.

I’ll predict which LE S550 will have a high collectibility status in the future - the true 2015 50th Anniversary Edition that was only limited to 1,964 units. It’s not the fastest or most powerful, but has unique parts not found and not available on any other S550 since its introduction. Buy them now and store them. Laugh at me, but come back here in another 10–15 years when they’re fetching upwards of $60k+. Good low mileage examples are already breaking the $40k barrier.

I think the Bullitt’s value will be in the sub $35k-$40k range for low miles examples for quite a while. Anyone who paid ADM though, it may be a while before you see any return.

 

[shogun32]

Laugh at me, but come back here in another 10–15 years when they’re fetching upwards of $60k+

what's the original purchase price of that 2015 special? Is 40k a fair price? Then 60k in 2035 is just keeping up with currency debasement. And that's assuming a preposterously low (ie. falsified figures from Treasury) of 2%/yr. In other words, at 60k the car hasn't appreciated even one dollar. If you can get more than 60-72k (3%) for it in 2035 you still haven't made buck one. Though what it does mean is your car hasn't suffered any depreciation in all that time. Which would be preposterous and anyone bidding that much is a fool.

Cars normally depreciate 20-30% first year and then about 7% thereafter. So in 20 years (40-40x0.8)x0.93^19 = 8k. Adjusting for inflation the market price could be as high as 14k. So anything over 14k is gravy.

A Bullitt has no redeeming value over and above a similarly equipped GT of like condition and miles.

A quick rule of thumb is that after 5 years of ownership the value of the car is a little more than half of what is was new.

 

[Elp_jc]

Some folks say manual cars will fetch higher prices in the future, but I honestly think it'll be the opposite. How many young punks know how to drive a manual? Ha ha. My daughters don't, and neither any of their friends combined, and they're now 30 and 27. So Bullitts being all manuals, I don't personally think they'll be worth any more than a regular GT... and probably even less than autos. We'll see . By the way, there are less S550 Bullitts than GT350s; go figure.

 

[danno1]

Also which of the series years would be worth more?

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