On a scale of 1-10, how bad of an idea is buying a new S550 in the next 6 months, and other buying questions

[Kermut]

My situation-

I've been driving a MX-5 for the past 5 years and love it, but my wife is on my case about not being able to haul our toddler around, which is legit.

Frustratingly, as I finally come into a financial position where I could afford something nice, the dang pandemic/chip shortage happens. My original plan was to try and pick up a few year old, low mileage GT350 for ~$45k. That now being impossible, I was willing to raise my budget a bit and look at a M1. I finally got a chance to sit in one yesterday (no test drives, because, #reasons). I dunno, it just doesn't feel all that special to me, and the asking price just seems a tad outrageous considering the GT350 retailed for almost the same last year as a M1 premium.....Ford really messed up that one. And my primary use would not be tracking, that would just be a nice bonus.

Because of that I've been looking at new GT's (used prices are so high it appears not even worth considering). I'm currently looking at the premium because I love the digital dash, and might get the active exhaust because it seems like a useful feature. The GT premium with the 401a package prices out ~$45,000. MagneRide seems neat, but I'm not dropping ~$5k for the overpriced PP to get it, and that puts you back into M1 territory anyway, so I'm not sure who would even opt for a GT at that point.

I suppose my real question is, I know that these cars lose ~35% of their value over 5 years, which I am OK with. Does anyone know, pre-pandemic, what sorts of rebates were available on these? If similarly optioned cars were selling for $5-10k under MSRP, I might attempt to hold off, rather than eat the additional cost on the buying and selling end. Or hold out for the S650, which is probably what I should do anyway. But after waiting for so many years, I'm becoming impatient. Anyway thanks for the help

Sponsored

 

[Balr14]

I see lots of low mileage 2018 GTs for mid $30s. They are excellent values and have already taken the worst depreciation hits.

 

[vanquishvzla]

My car worth right now about $8k more than what i paid for it 5 years ago. So, no, i wouldn't buy anything right now that is not a good solid deal but at the same time the market is so weird right now, that everything is selling like crazy.

 

[Kermut]

I see lots of low mileage 2018 GTs for mid $30s. They are excellent values and have already taken the worst depreciation hits.

GT premiums? Regular GT MSRP is like $36k right?

 

[NoVaGT]

I see lots of low mileage 2018 GTs for mid $30s. They are excellent values and have already taken the worst depreciation hits.

Please, post up some links so we can see them.

 

[Zelek]

Sold my 17 for what I paid for it brand new and ordered a new Mach one 2% under invoice pricing before Ford raised their prices recently. They're cutting incentives as well so buying a new S550 is probably not going to be good until this winter or so.

 

[NoVaGT]

Like......level 12 bad.

If you have a 2nd or 3rd car you can sell for big $$$, that's the way to go. But it's not a buyer's market right now.

 

[bluebeastsrt]

I don’t think you’ll be happy with a run of the mill GT. After listening to the list of cars on your “want” list!

 

[J-orange]

I bought my 2019 GT vert used with 13k miles for ~36k. MSRP was $53,200. I was fortunate to find a used car configured exactly how i would have ordered it. I had to fly to get it but it made a good road trip with my son and I. If I was in your shoes, I would hold out till the S650 comes out and do a factory order. If you spending that much coin, get what you want.

 

[BTDUBS]

If this is your primary family car, I would even bother test driving one. I only get away with it because my son very seldomly goes out in the Mustang.

 

[AMC401V8]

Get what you want, don't settle. I've a 2020 premium 401A PP1 car and I had to order it to get exactly what I wanted. I wanted a particular color and had to have the digital dash and 6M. Wish you the best with your purchase!

 

[AfricanSnowOwl]

I just bought my brand new 2020 GT premium last week. I was able to get the dealership to come down about $10k off the msrp. It helped a lot that I was getting a 2020, when the other dealerships had 21' models priced similarly. I am extremely happy with my purchase.

 

[Kermut]

I just bought my brand new 2020 GT premium last week. I was able to get the dealership to come down about $10k off the msrp. It helped a lot that I was getting a 2020, when the other dealerships had 21' models priced similarly. I am extremely happy with my purchase.

Yea that's amazing. I would totally buy a GT premium if I could get that kind of a discount, and then add on whatever bits and bobs I felt it was missing.

 

[3rdRGR]

I would do a nationwide search and see what you can scare up. You may have to pay a couple grand to travel to drive it/ ship it to you, but opening up your geographic circle would be very valuable right now. Hate it for you though. I bought my used 2018 Roush at the start of the pandemic when everything dropped like a rock. For what I bought mine for with 5,700 miles on it you can't get a PP1 with 40K miles on it now. Just a crappy time to buy used right now. If a nationwide search doesn't help you, you may just want to sit on the sidelines for a little bit while the market hopefully unscrews itself. Good luck with it!

 

[spaz mk will]

I see lots of low mileage 2018 GTs for mid $30s. They are excellent values and have already taken the worst depreciation hits.

Ouch. I purchased my 18 GT in January 19, used with 11k miles and 11 months of ownership. 401a, active exhaust, shaker, blackout, and security package. MSRP ~45k. Paid 32K. Seeing mid 30s as a value is tough to me but true in the current (wacky) market.

Sponsored