How good of a deal is this?

[70monte]

My local Ford dealer has a new 2015 CO premium with the 50th anniversary appearance package. It has the automatic transmission. According to the build date inside the door, it was built a year ago and this dealer has had it probably since then because I remember when they got it.

It got some pretty major hail damage last year but they used a mobile dent less repair place to fix all of the vehicles on their lot that were damaged. You cannot tell it ever had this damage. You also can not tell that the headliner has been taken down.

MSRP on this car is $43,190 and they have it red tagged for $35,000 even, which I think is a pretty good discount. They are firm on their $35,000 price.

My possible trade-in is my 2014 Mustang GT with 19,200 miles on it. It is a base model car with an automatic. Their trade-in value for my car is $22,000. I still owe about a $11,400 on it. My car stickered new for $32,740.

So what do you think about their price on their car given the previous hail damage and how long they have had it and is that a fair price on my car? I'm not really liking the fact that the value of my car is almost $10,000 less in less than three years.

I'm still not sure I even want to trade but I really like the CO color a lot and the look of the new generation Mustang has really grown on me. I still like the looks of my 14 a little better though.

Thanks for any input.

Wayne

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[2015 Silver GT]

Sounds like a good deal to me and I'd do it in a heartbeat. The CO is a great color and the 50th anniversary package is nice. And the auto is a win win.

 

[cbrookre]

My local Ford dealer has a new 2015 CO premium with the 50th anniversary appearance package. It has the automatic transmission. According to the build date inside the door, it was built a year ago and this dealer has had it probably since then because I remember when they got it.

It got some pretty major hail damage last year but they used a mobile dent less repair place to fix all of the vehicles on their lot that were damaged. You cannot tell it ever had this damage. You also can not tell that the headliner has been taken down.

MSRP on this car is $43,190 and they have it red tagged for $35,000 even, which I think is a pretty good discount. They are firm on their $35,000 price.

My possible trade-in is my 2014 Mustang GT with 19,200 miles on it. It is a base model car with an automatic. Their trade-in value for my car is $22,000. I still owe about a $11,400 on it. My car stickered new for $32,740.

So what do you think about their price on their car given the previous hail damage and how long they have had it and is that a fair price on my car? I'm not really liking the fact that the value of my car is almost $10,000 less in less than three years.

I'm still not sure I even want to trade but I really like the CO color a lot and the look of the new generation Mustang has really grown on me. I still like the looks of my 14 a little better though.

Thanks for any input.

Wayne

Seems like a good deal to me. I think you will enjoy the 2015 more, much more civilized and handles fantastic. You could always go in with a lower price and be prepared to walk away if you do not get it. Unless they have another customer lined up they are losing value by having it sit there. If they say no, then you can always decide to accept the $35k or walk. If you play it right you may get what you are looking to pay for it.

 

[Volstang]

Go to CarMax and see what they will purchase your car for. Doesn't cost you anything except a little time. Maybe you do better there. The only thing that hurts is you only have to pay tax on the difference between new car cost and trade in value. If CarMax pays enough to come out ahead you could take that route. Not sure if you have to own your car to do that via CarMax or not but it would give you an idea of what your car's true value really is. Good luck. KBB.com says your trade in value on a base GT with auto is $20,200 - $22,300. Sounds like that dealer is on the money.

 

[Bartly]

How many miles on it. Was it the salesman hot lap car for the last year. Always wonder how taking new cars for test drives on cold engines does for the life of the engine.


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[70monte]

Thanks for the reply. I just looked up my car on NADA which I know the dealer doesn't use but average trade-in for my car is $22,375 and clean trade-in is $23,525 so they are a little low on the value for mine. My exhaust doesn't get any additional value and I told them I would take that off and put the stock stuff back on. I forgot to talk about the fact that mine has 19" Mustang Premium wheels on it vs the stock 18" wheels but I doubt they would add any value as well. I still have the stock wheels and tires I could put back on.

This is still very tempting though. Thanks.

Wayne

 

[70monte]

How many miles on it. Was it the salesman hot lap car for the last year. Always wonder how taking new cars for test drives on cold engines does for the life of the engine.


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Car had 48 miles on it when I test drove it today. About 53 when we brought it back. The battery was dead so they had to jump it to get it started.

Thanks for all of the other responses.

Wayne

 

[paul123]

$22 is the KBB of your current car so their offer seems fair. $35 + TTL - 22. I would keep the '14. Shop for a supercharger if you want to spice things up.

 

[70monte]

Go to CarMax and see what they will purchase your car for. Doesn't cost you anything except a little time. Maybe you do better there. The only thing that hurts is you only have to pay tax on the difference between new car cost and trade in value. If CarMax pays enough to come out ahead you could take that route. Not sure if you have to own your car to do that via CarMax or not but it would give you an idea of what your car's true value really is. Good luck. KBB.com says your trade in value on a base GT with auto is $20,200 - $22,300. Sounds like that dealer is on the money.

We don't have CarMax around here so that is not an option.

This dealer also has a 2015 Ruby Red premium, 50th anniversary package with automatic for the same $35,000. It's MSRP was a few hundred less than the CO car. It also was damaged in the hail storm but seems to be fixed correctly.

Wayne

 

[jasonstang]

Not entirely good deal because I bought my 16 California Special automaic for $36k last year MSRP $42k.
You should be able to get a brand new one for around that money.
Personally, if your current car is so new, I would not trade it in. Just drive it and mod it.

 

[Cobra Jet]

Well, if you're going to be financing and just looking at a base number / if they won't come off their $35k - and they're only going to give you $22k for yours:

$35k
$11.4k you owe on yours
--------
$46.4k potential finance amount

That is excluding any other fees/taxes/DMV add ons AND any down payment.

If it were me, I'd work them more on their price and on the price of the trade in. You *might* be able to get them to adjust another $2k total (doesn't matter which way they apply it).

Every car has depreciation - Mustangs (excluding LE's) are stamped out by the thousands, they really do not hold value years later, even if in perfect condition.

If you were to ask most folks, you're still a little upside down in your current loan. If you would have said you only owe $3-$5k, you'd be in a much better position regarding payoff and negotiation tactics. Now unless you have disposable income, hit the lotto or get funds from other sources - then what you owe and what you will end up paying for a new car is moot...

 

[70monte]

$22 is the KBB of your current car so their offer seems fair. $35 + TTL - 22. I would keep the '14. Shop for a supercharger if you want to spice things up.

I'm still undecided and even though I could hear the exhaust on this new car, it's not loud enough so I would be looking at some additional money for a cat-back or axle back plus this new car has the silver looking wheels which I don't like so I would be looking for some stock type looking black ones to exchange them for.

Power wise, I could not tell a difference between my car and the new one. Brakes were a lot better and the seats were marginally better on the new one. For where I drove, I couldn't really feel much of a difference on the ride or handling.

Even though I'm not much for the leather, tech and audio stuff, the back up camera was nice and I like the option for XM radio.

The one attractive aspect of this car other than the color is that it is a lot of car for the current asking price.

Wayne

 

[70monte]

Well, if you're going to be financing and just looking at a base number / if they won't come off their $35k - and they're only going to give you $22k for yours:

$35k
$11.4k you owe on yours
--------
$46.4k potential finance amount

That is excluding any other fees/taxes/DMV add ons AND any down payment.

If it were me, I'd work them more on their price and on the price of the trade in. You *might* be able to get them to adjust another $2k total (doesn't matter which way they apply it).

Every car has depreciation - Mustangs (excluding LE's) are stamped out by the thousands, they really do not hold value years later, even if in perfect condition.

If you were to ask most folks, you're still a little upside down in your current loan. If you would have said you only owe $3-$5k, you'd be in a much better position regarding payoff and negotiation tactics. Now unless you have disposable income, hit the lotto or get funds from other sources - then what you owe and what you will end up paying for a new car is moot...

I think you might be a little off on your calculations.

$35,000 Price of their car.
-22,000 value of my car.
-----------
13,000 difference
+11,400 What I owe on current car.
-----------
24,400 Amount financed.

If my car is worth $22,000 and I only owe $11,400 on it, I have $10,600 of equity in the car so I'm not sure how I would be upside down on it.

My car new was $32,740 and between discounts, rebates, and my trade-in which was payed off, I only financed $22,400 on this car.

Wayne

 

[paul123]

...
...
Power wise, I could not tell a difference between my car and the new one. Brakes were a lot better ...

stopping power ( 60-0) between the '14 and the '15 should be similar, comparing non-brembo A/S tires.

What's a Centri S/C run, $5-6k ? I think a ProCharger goes on with minimal mods. So you could try it out, and keep the option to easily remove and re-sell.

 

[JamesinLittleSilver]

FYI you should get 0% finance and 900 bucks ... according to Ford.com for 2015

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