Realistic resale values

SVTinAR

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Planning to sell my 2017, 10,700 mile GT350 and having difficulty assigning a fair value for it. Some of the internet listings just seem insane - see following.

https://www.cars.com/for-sale/searc...highest&stkTypId=28881&yrId=30031936&zc=72120

Nice, virtually pristine car and not planning on giving it away but far from convinced these are $52k - $63k cars. I imagine some of these cars will set on a lot for years and few are private sellers. Autotrader, Truecar and Car.Com assign values of about $48,000 for a private sale.

So what's a reasonable price I should be looking for? I'm not a desperate seller so not looking for bargain hunters - just a fair price.





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anacar312

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I follow the R market but BaT may give you a sense of the 350 market as you can see actual SOLD prices: https://bringatrailer.com/auctions/results/?search=gt350

Although there seems a strange phenomenon with BaT and the GT350..... In the few other models I follow (e46 M3, CJ-7, CTS-V Wagon) tend to generate top dollar bids on BaT. I feel that the 350 is not getting that same love from BaT bidders..... or I am simply biased because as I'm a soon to be owner and want values to stay strong!
 
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Kramerica

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I've been following the GT350 market closely for close to two years now as I was ready to purchase a car early this year and I will say prices have noticeably gone up since I started looking. Obviously Covid is a big factor here but also end of prodcuction annoucement, etc. There is another thread on the forum discussing this phenomenon.

Looking at the cars listed on the link provided by OP. I get the feeling these dealers are reaching. $54k for a GT350 with 20k miles, I just find that hard to image given where we were at the start of the year. For reference, I paid $43.6k for my 2017 that had 650 miles on the odometer back in January (and it still had a year and half left on the full factory warranty).

Obviously I appreciate the fact that GT350 values have and are going up, I just think these dealers watch the market like we do and are trying to take advantage of an up market while they can.

All that being said, right now I'd say fair value is hovering around 50k imo for a car with your mileage.
 

lonegunman

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What do you have to get out of it? If you have room, start high and drop the price if you get no hits. As they say, you can always take less, you cannot really ask for more.

My last Mustang had the imagined value that you can see with GT350's on the internet and then their was the price I sold it for.................................................about 25% less. It was a great car, rare configuration and outstanding condition and in the end a guy bought it to flog it for the best cash offer of the lot.
 

Abg123

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Planning to sell my 2017, 10,700 mile GT350 and having difficulty assigning a fair value for it. Some of the internet listings just seem insane - see following.

https://www.cars.com/for-sale/searc...highest&stkTypId=28881&yrId=30031936&zc=72120

Nice, virtually pristine car and not planning on giving it away but far from convinced these are $52k - $63k cars. I imagine some of these cars will set on a lot for years and few are private sellers. Autotrader, Truecar and Car.Com assign values of about $48,000 for a private sale.

So what's a reasonable price I should be looking for? I'm not a desperate seller so not looking for bargain hunters - just a fair price.
Well..I listed my car here..no bites at 49.5. 2018 6850 miles perfect condition blk on blk even included a transferable full warranty till October 2014 w 9 more oil changes INCLUDED.. On ebay right now.. 49.5 buy it now.. no bites yet. Black color could be issue
 

Grintch

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10,000+ miles is a lot for a GT350. I have seen many 2016's with <2000 miles.

But the prices have gone up during Covid. The questions is will they go up or back down after it's over. I suspect (hope) they will go down. Because guys who want a top end Mustang will want a GT500.

In the early days of Covid when the market bottomed out, you could buy new GT350's for $57K. So a 3 year old car for $53K is a good price. I passed on a 2017 with fewer miles earlier in the year for $45K. But it had some mods that I wasn't wild about.
 
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RPDBlueMoon

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I've been following the GT350 market closely for close to two years now as I was ready to purchase a car early this year and I will say prices have noticeably gone up since I started looking. Obviously Covid is a big factor here but also end of prodcuction annoucement, etc. There is another thread on the forum discussing this phenomenon.

Looking at the cars listed on the link provided by OP. I get the feeling these dealers are reaching. $54k for a GT350 with 20k miles, I just find that hard to image given where we were at the start of the year. For reference, I paid $43.6k for my 2017 that had 650 miles on the odometer back in January (and it still had a year and half left on the full factory warranty).

Obviously I appreciate the fact that GT350 values have and are going up, I just think these dealers watch the market like we do and are trying to take advantage of an up market while they can.

All that being said, right now I'd say fair value is hovering around 50k imo for a car with your mileage.
Kinda off topic, but when do you think COVID will stop affecting the used car market and prices will go back down to 'normal' I am seriously considering getting a RX350 to replace my tC as my daily driver. I didn't start looking at prices until a week ago. I have no idea what they were earlier this year, but it would be great to see the prices drop an extra $5,000-$7000
 

95CobraR

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...no bites at 49.5. 2018 6850 miles perfect condition blk on blk..
I think your price is spot on. I used good (not excellent) on the car value sites, and the middle range was on your number. It did say it took 30 days (on average) to sell it.

I think the uncertain direction of the China Virus is causing some people to hold on to cash.
 

newmoon

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I think that the prices on the cars.com website are on the high side. Looking at the 2019 offerings the prices for used models are higher than what I paid new. I would guess take 3k off of the prices they have listed and you are in the ballpark.
 

BlackandBlue

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Don’t have a whole lot to add besides saying the current used car market is jacked up. Valuing your car will be even more difficult then normal.
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Jago768

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I''ll jump in and say that yes, prices are high on used Shelbys. The prices are so high I just decided to find a unsold order. On a side note dealers don't want to offer higher rates on your trade. We have a 2020 Veloster N w/performance pkg, that we bought as a track toy and never drove. It still has some factor plastic on it, and the airbag tag. That being said, CarMax, Vroom, and dealers will not come close to KBB trade-in value.:thumbsdown:
 
OP
SVTinAR

SVTinAR

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Interesting that many of you mentioned the Covid pandemic effect. My wife sort of threw a wrench into my plans and said she was not comfortable with my advertising the car for sale right now and having people drop in to look at it with all the Wuhan Red Death crap going on. But she did say - why don't you just go buy the car you want and wait until the pandemic is over before selling the Shelby. A thought - but the Shelby is just sitting in the garage costing me in insurance and property taxes and since I retired I don't drive it much any more so my first objective was to move it along. Wives!

I appreciate the responses. Some good info above.
 

95CobraR

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....I would guess take 3k off of the prices they have listed and you are in the ballpark.
I think 6% off the asking price is a fair deal to a private buyer with cash.

It's no delivery, destination, processing, handling fees, gas guzzler Tax, ETR, warranty right fee, title fee, tag fee, and other fees (yes, I got a new quote with "other fees"). It wasn't from Ford.

BTW, I'll keep my 2019 GT350 (MSRP= $61,535)
2019GT350MSRP.jpg


Here was my first Ford Mustang:
89LX-1.jpg


$12,000 + 3% tax.
 

Cobra Jet

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Try running a quote on Carvana - there have been a few M6G members that have posted that in the last few months, Carvana was offering substantially higher values than any dealer could touch as far as trade in (and in some instances private party).

The vehicle markets are whacked at the moment due to COVID and wholesale/retail/auction for used cars has been drying up, which is raising prices for payouts for sellers - not a buyers market at the moment, unless you’re really researching and nail a deal. Even Car Rental agencies which had huge turnover for replacing their own rental inventories really aren’t letting those go either... again which affects overall used vehicle market segments.

I’ve seen used S550’s ranging in years from 2015-2019’s with ridiculous selling/asking prices. In some instances yes, some of those will sit and collect cobwebs. The smart folks aren’t willing to lay out $$$ for a used car that costs just as much as a brand new car that can be had for under MSRP and in some instances with 0% financing for those needing to finance.
 

tnk_2

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Kinda off topic, but when do you think COVID will stop affecting the used car market and prices will go back down to 'normal' I am seriously considering getting a RX350 to replace my tC as my daily driver. I didn't start looking at prices until a week ago. I have no idea what they were earlier this year, but it would be great to see the prices drop an extra $5,000-$7000
I think by April of 2021 should be over
 

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