Multiple owners / short time span

[mpower_ss]

Hello all,
So I have noticed a pattern while searching for a used GT350. There are quite a few cars for sale that have had multiple owners in a short time gap. It’s kinda weird for a 2 or 3 year old car to have multiple owners already. Reading the car fax report and sorting out the history makes you nervous. For example, a 2018 with 8,000 miles and on its 3rd owner. ????

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[jmn444]

I think toy cars get traded/sold more often than normal ones.. that and the last 8 months of economic uncertainty has probably made more change hands than normally would too...

 

[stanglife]

And also the number of people who flip them right away...that's going to put it on it's 2nd owner from the start. (looks around)

 

[wingnutt]

oh it gets better than that...one I was looking at had been thru 4 owners, two auction houses, and five states in less than 10,000 miles.

 

[key01]

Sometimes an owner may be the dealer if they had it in inventory for awhile and had to title it. Varies by state. The buying and selling pattern of these cars most represents high end exotics and other performance cars where low miles and multiple owners is very common as they are simply toys in a large fleet.

 

[madusa]

Hello all,
So I have noticed a pattern while searching for a used GT350. There are quite a few cars for sale that have had multiple owners in a short time gap. It’s kinda weird for a 2 or 3 year old car to have multiple owners already. Reading the car fax report and sorting out the history makes you nervous. For example, a 2018 with 8,000 miles and on its 3rd owner. ????

I was the third owner of my GT350 with only 4k miles. First owner was a car broker and had it for about a year and sold it to the second owner. I wouldn't hesitate to buy a car with multiple owners as long as they have records of all services done.

 

[Carpenater]

I've owned 3 GT350's over the course of 9 months, so it does happen.

 

[ssmith891]

I've owned 3 GT350's over the course of 9 months, so it does happen.

Why?

 

[galaxy]

A car like this, you're always going to have the guys that are star struck and just absolutely must have it at all costs...only to have reality set in very soon after. "woah, turns out I can't afford this car after all"! I would also assume a portion of that jump on the purchase of this car only to find out very soon they can't afford the insurance either.

 

[SVTinAR]

The first owner of mine put 2600 miles on it and traded it for a "R" model. So sometimes there are understandable reasons.

 

[cmxPPL219]

Posters above made excellent points and real-world reasons for the multiple owners

I'd just add that especially for a car like this, 2 door sports car (4 seat or 2), I have friends in car sales who confirm that some buyers literally just buy the vehicle for a season or 2, namely summer, as a toy, drive it only for that season, and trade it in for something else.

But yes, multiple owners within a short time span doesn't always mean bad. However, it could on occasion, which is why dealers will go out of their way to advertise a car as a one-owner, no accident etc. car.

This is also why usually, one-owner cars will command that slight premium over the multiple-owner unit in terms of both trade and retail value.

 

[Carpenater]

Why?

Bought a 17 GT350 with the intent to buy a daily beater. A career change a two months later brought about needing a truck, wanting a nice truck I traded in my GT350 for a 16 Duramax. Four months later another career change, which prompted me to want other GT350, but an R, so I bought a 19 GT350R. This was about the time the HEP model was unveiled, but figured I would wait. 6 months later really wanted the HEP, and being a limited production care and rising ADM I acted and traded the 19 GT350R for a 20 GT350R HEP. I did have to sell the Duramax but found and bought an older truck, a 99 Lightning with 31k. My wife is a very patient person......I think.

 

[526 HRSE]

I've owned 3 GT350's over the course of 9 months, so it does happen.

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