Poor resale value

[invaliduser]

I'm at 11 months and 14000 miles. KBB says trade is 13k less than what I paid for it last March.
Not great but not horrible either..

Sponsored

 

[GGordon]

Look, folks can whine about shit value, but there ain't a damn thing that can be done. Don't like the value? Don't sell the car. I'll probably keep this thing until it blows up. Get my money's worth out of it.

I'm in the same boat really. I build custom cars for a living (all kinds... lot of Mustangs, but I've done about 1 of everything). My personal car is a 2015 PP GT Premium, 50th Edition (non LE). It's got custom body work, paint, wheels, ProCharged, etc. Book value on the car is 36k. Bought new for 44k (literally has every single option). However, I've been offered north of 60k for it... and I've got 20k miles on the car.

60k is about my break even mark... so I wouldn't be doing myself any favors to unload it there. When I build one like this new, we source direct and modify new, never driven cars. We flip those out at considerably more than $60,000. Mine will likely never be sold. 1) because I hand built it and 2) it's the perfect car for me. If I sell it, I'll just end up rebuilding the exact same car again.

So, talks about selling it go towards, "Hey, really. Just let me build you one. Get yourself a new Mustang, come to me and we'll talk. We can get you a 675-1,100hp Mustang custom built and delivered in 2 weeks from the day you drop it off and it won't be much more than you're trying to buy this one for and nobody will have one like it."

 

[1320']

I'm at 11 months and 14000 miles. KBB says trade is 13k less than what I paid for it last March.
Not great but not horrible either..

Now subtract about 4 grand from that and you'll get about what a dealer would give you.

 

[El Diablo]

If you had to guess....

How much would a '17 GT Premium PP with 5k miles go for in summer of 2018?

I got 30K for my 15 GT Premium PP when I traded it last Oct. I had 8,000 miles if I remember.

If I am trading I try and do it before the next model year comes out. Adding another year between your car and the current available model will only further lower the value of your car.

Carmax has a 2016 PP with 2,000 miles on it for 34K. Figure by summer that will be less. And that is what they are selling it for... What are they buying it for?

 

[5LITER]

I keep my cars until the wheels fall off. If i like the car ill repair it and keep it going. Resale means little to me. Buy a car you like, enjoy and keep it. Never understood why people trade so often. Not financially sound. Unless you are a leaser.

 

[dron_jones]

I keep my cars until the wheels fall off. If i like the car ill repair it and keep it going. Resale means little to me. Buy a car you like, enjoy and keep it. Never understood why people trade so often. Not financially sound. Unless you are a leaser.

I don't smoke, i don't drink, i don't gamble, cars are my vice. My goal is to own and drive as many different cars as i can in my life. Where possible i buy cars used looking for a good deal to minimize my future loss, but sometimes when a car is special (GT350) i will buy brand new. If you look at cars as a financial cost i agree with your assessment, it doesn't make sense to buy and sell so quickly, but if cars are your passion and you want to enjoy many different vehicles you understand and accept that you need to pay up to do so.

 

[dgc333]

One of the big three reasons I lease...I'm never upside down. In this instance 0% would have been cheaper monthly as 'Stangs have shit for leases but I have the ability to walk in and drop the keys @ 36 months and walk away scot free.

Leases are very restrictive because the price you are financing is the depreciation, interest and profit. If you violate any of the conditions. Of the lease you don't get to drop off the keys and walk away. My wife's sister had to pay $10k to "walk away" from a car at the end of the lease because she exceeded the allowed mileage, had more than they allowed in bumps and bruises and the interior had some stains. Between the cost of the lease and the cost to get out of the lease it would have been cheaper to buy the car.

For me to get a lease that allows me to drive the number of miles I drive the monthly cost would near what it would to buy the car outright.

If you are one of those folks that seldom drive a car and keep it in perfect condition a lease makes sense.

 

[VinnAY]

Leases are very restrictive because the price you are financing is the depreciation, interest and profit. If you violate any of the conditions. Of the lease you don't get to drop off the keys and walk away. My wife's sister had to pay $10k to "walk away" from a car at the end of the lease because she exceeded the allowed mileage, had more than they allowed in bumps and bruises and the interior had some stains. Between the cost of the lease and the cost to get out of the lease it would have been cheaper to buy the car.

For me to get a lease that allows me to drive the number of miles I drive the monthly cost would near what it would to buy the car outright.

If you are one of those folks that seldom drive a car and keep it in perfect condition a lease makes sense.

per that example a lease is a terrible option...I've always walked away scot free from a lease. Every manuf is different how they end a lease, but one little less used option is that you can sell it outright (it has a payoff) and avoid the lease turn-in games.
Me I drive 12-13K a year, take super good care of my cars, no excess, no dents/dings...it's fit's me perfectly. Leases are rarely good things for most drivers.

 

[Hashbrownn]

Paid $40k OTD in March of 2016. Had a sticker MSRP of $42k.
I've put about 17k+ miles on it so far in 11 months.
KBB says it's worth about $27k-$30k with trade in value of $29k. Sounds about right for a mass produced car.

 

[wireeater]

Paid $40k OTD in March of 2016. Had a sticker MSRP of $42k.
I've put about 17k+ miles on it so far in 11 months.
KBB says it's worth about $27k-$30k with trade in value of $29k. Sounds about right for a mass produced car.

Your car has 17k miles in less than a year? It's ruined.

 

[HoosierDaddy]

Your car has 17k miles in less than a year? It's ruined.

No way. Half of that was babying it on the return road after a pass.

 

[5pointOh]

Carmax has a 2016 PP with 2,000 miles on it for 34K. Figure by summer that will be less. And that is what they are selling it for... What are they buying it for?

LOL I can get a 17 base PP for $27k....Carmax can suck it with their overpriced crap.

 

[justang]

LOL I can get a 17 base PP for $27k....Carmax can suck it with their overpriced crap.

Very tempting.. which dealer is offering this price?

 

[15GTBEN]

Carmax has sucked in my experience. I have taken 3 cars there over the years and was low-balled each time.
I recently traded my base stang gt auto with 14k miles in for $27k at a chevy dealer. Carmax offered $25k.
I paid 31.4k OTD (including tax/tags) with 0% apr for my GT last year.

Also consider in some states you save a lot on tax when you trade payin the tax on the difference between the price of the new car and what's offered for the trade...

Trade offers also greatly vary between dealers. I saw a $4k difference between dealers one time.
I also got decent trade offers on my 12' and 14' 5.0's I traded in.

 

[Blk2015GT]

Very tempting.. which dealer is offering this price?

Presumably a used car with some miles absent knowing someone or Ford employee. That is thousands under invoice new.

I believe invoice on the base GT with nothing on it is $31k for 2017 (MSRP is $33,195). PP is another $2200 even at invoice pricing, so like $33k invoice for a base GT PP (that's if you get the $900 destination waived somehow too).

Sponsored