How to sell a new GT350

[Huck FInn]

My 2020 GT350, delivered in late March, dropped a valve last Friday like so many before me. The magic is gone and I want out. I have put about $10K into the car in extra wheels and tires, exhaust system, stone chip film, etc. so it is much better equipped than all the new bare GT350s for sale at dealers, but I have damaged goods under the hood. I would like to sell it quickly so I can buy something else.

Any recommendations on where to advertise, and how to price the car considering the engine repair? I'm told a long block will be put in. I have a total of about $77K invested in the car.

Thanks for your suggestions.

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[IronG]

How many miles on it and did you get all the repair work done under warranty? You have paperwork showing what was repaired and by whom?

 

[Bikeman315]

First off, sorry to hear about your engine. Unfortunately stuff happens, it sucks. That said, a lot of owners have had their car repaired and still drove and loved them. Are you sure you're not making a snap decision?

Anyway, sounds like you want to sell it before the engine gets replaced. If that is correct then your asking the buyer to pay for the car and wait for the engine to be replaced while you go out and buy a new car. That may be a lot to ask. I believe, under your circumstances , you are going to have to go private. You may or not get anything for the extras you bought. Might have to sell those separately. As far as price, be prepared to take a bath and hope you find a good buyer.

 

[LxMike]

Will the engine still be able to be replaced under warranty if someone else buys the car??

 

[Bikeman315]

Will the engine still be able to be replaced under warranty if someone else buys the car??

Yes, since Ford already agreed to change the long block. The remainder of the factory warranty transfers to the new owner. That said, OP should make the deal for an extended warranty now. It will be a selling point that the new owner should appreciate.

 

[opengl]

I have a total of about $77K invested in the car.

I think you're finding out the hard way that money spent on a car is rarely if ever an "investment".

 

[Bikeman315]

Huck, you might want to PM Scott on this thread, "2020 GT350, 1000 miles DEAD with Broken Valve". He got a new long block in three days. Maybe he can give you his contact at Ford.

 

[hemistar1]

Get it fixed and keep it for a year.. keep it stock and sell all your mods separate. Enjoy the car and then sell after a year and a few more thousand miles. The next buyer will be more apt to pay book price if they know the car now runs and you have a few thousand test miles to prove it. You will lose some value but not as much as you will if you sell before the new engine is “broken” in.

sorry this happened but could happen with any car.

 

[Briebee72]

Man I hate it for ya, But unfortunately Mustangs arent great at holding any value. I Know a guy bought a gt350 spent 68k I think it was and put 1700 miles on it decided he didnt want it. Nothing wrong with it and best he could get was 49k. My buddy got fully loaded need for green 2019 pp1 gt premium 52k he looked around at selling it last week best anyone would give him of 7 dealers was 27k and its mint. You might be best to keep it get it repaired and give it a chance cause you are not gonna come out well on this especially once a buyer knows it already had engine issues. I wish you the best. let us know.

 

[Greg35]

Huck, I sent you a PM. Thanks

 

[stangman638]

give ya 45k even....

 

[stangman638]

Man I hate it for ya, But unfortunately Mustangs arent great at holding any value. I Know a guy bought a gt350 spent 68k I think it was and put 1700 miles on it decided he didnt want it. Nothing wrong with it and best he could get was 49k. My buddy got fully loaded need for green 2019 pp1 gt premium 52k he looked around at selling it last week best anyone would give him of 7 dealers was 27k and its mint. You might be best to keep it get it repaired and give it a chance cause you are not gonna come out well on this especially once a buyer knows it already had engine issues. I wish you the best. let us know.

that is true.. my tag msrp was nearly 52k for a 2019.... loaded pp1 premium a10... last summer dealers were offering 30k at the most... of course they will resell for mid to high 30's...

 

[thunderstrike]

I think you're finding out the hard way that money spent on a car is rarely if ever an "investment".

My realtor asked me when I bought my house: Are you going to put in a pool?

I said no, asked why the question -- he said "it's a give me."

 

[obspsd]

$77,000 invested. Ouch.

Should of bought a GT350R.

Do you still have all your stock parts to put back on?

 

[Balr14]

You must have liked it enough to spent $10k in mods. Selling it because of a problem that will be fixed under warranty would be an over-reaction.

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