Selling car after driving it home?

[damships]

Maybe in 20 years I’ll get a GT500. Until then it’s going to be focusing on my house lol

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[nedim1991]

A lot of the situations that you guys are describing make sense to me. I bought a car, I kept it for a few months, realized I didn't necessarily love it. So I sold it. Fair enough. The scenario's that I'm talking about, where people are listing these cars as soon as they get home with them with a $5-10K loss against what they JUST paid (borrowed) for them, are miles and miles away from that in my mind. These are what I really can't understand.

 

[Balr14]

A lot of the situations that you guys are describing make sense to me. I bought a car, I kept it for a few months, realized I didn't necessarily love it. So I sold it. Fair enough. The scenario's that I'm talking about, where people are listing these cars as soon as they get home with them with a $5-10K loss against what they JUST paid (borrowed) for them, are miles and miles away from that in my mind. These are what I really can't understand.

Well, there are people in this world with more money than they know what to do with.

 

[Strokerswild]

Impulse buying occurs easier the more toys you got. Also the more toys you have the less it seems any of them are taken out. I never understood when I was young how guys have the cool rides but hardly drive them, I get it now.

While I don't impulse buy vehicles, the rest of your statement is me all the way.

Other than the two newer ('17 and '19) DDs, I've got an old car and my Mustang, along with four motorcycles. The Mustang only has seen ~8500 miles on it since I took delivery in early '15, mostly due to the bikes and being busy with other things seemingly all the time. And yet I'm planning to order a GT500 next year, assuming I survive the Rona and my employer stays above water.....

 

[Riczilla]

I bought my 2019 from a dealer in March. The car had 600 miles on it. The previous owner took a hit on that purchase... I didn't complain.

 

[Evo42]

For me, I 100% financed my GT350, but I wasn't worried about payments and it's what I wanted. She's also my daily. It's mine, so I'm going to drive it. Track or street. I'm not worried about "value", because I plan on keeping my car. Smart buying is key, and a lot of people do not smart buy. They see something (reviews, etc.), thinks it looks cool, buy it, then regret it immediately.

That or they routinely get the 'next best thing' they enjoy. Some are quicker with that than others.

 

[Briebee72]

Something else to consider. Some states like here in NC a car thats not titled and has less then 2k miles can be sold as new. We have a honda dealer here that the general manager takes all the new nice cars like the nsx and the type Rs out for "demos" and lets his friends and family drive them until they get to about 1600 miles. Then he brings them back in and lists them on regular car sites. its not until you try to ask about one you find out its a dealer selling it as "new" because it has less then 2k miles and wasn't titled. But their add make it sound like its a privet party selling it that didnt like it.

But with that said I have seen a guy buy a 68k gt350 put 1700 miles on it and then sell it to that same Honda dealer for 49k which the sales manager immediately took off in a tore up the town with. Dude took a 19k loss in less then 2 months. Rolling that over has to make the payment on that new civic like 900 a month. so I doubt its people who cant afford them cause the loss still rolls over and they are gonna have a similar payment with new car.

 

[Briebee72]

The ones that make less sense to me are the ones who buy a expensive car in first week have 15k worth of mods done and then they turn around and sell it with the mods on and loose their ass on the car and get nothing for the mods all with in a few weeks of buying it.

 

[FreddyG]

Well, there are people in this world with more money than they know what to do with.

I wish that I had that problem, but I call that "Having more dollars than sense (instead of cents)".

 

[dguzzi]

Wife....
Insurance...
Sense set in?

 

[Lorne34]

I cannot speak to the situation the OP is talking about, other than my speculation is that someone just made a bad impulse purchase or lost their job that same week. I know there was a guy on the forum who purchased a GT350 after having owned a GT500 convertible. He immediately knew he made a mistake and that he and his wife had to go back to the convertible because that's what they loved. He ended up losing some money, so mistakes happen.

My personal experience/journey has been one of "discovery" I knew back in 2015 I wanted to purchase the new S550 design Mustang (actually been wanting a Mustang for 25 years now). I purchased a 2016 GT which I owned for 2 years, but it just didn't feel right to me from a driving experience perspective... I was also struggling with how to balance owning a sports car in terms of how often to drive it, how much to baby it, etc.. Up to that point I'd only purchased utilitarian vehicles for our growing families use. By 2015 our kids were growing up and moving out of the home.
I decided after two years of owing the GT Coupe to try a convertible. I figured maybe it would involve my wife more and perhaps give me the "experience" i was looking for. I found out after 1 season that is wasn't a "convertible guy"
It really took me a good year to really experience these cars fully and get an idea as to whether they fit my lifestyle and scratched the itch.
So I took a year off and contemplated my next move.. which included just dropping the whole idea of owning a fun, sports car toy. By the way, both of my previous Mustang purchases were used, Ford Corporate Vehicles which I purchased way after the initial depreciation hit, so my loses were not great.
Since 2015, the vehicle I really wanted (my dream car) was the GT350, but the ADM's were crazy and I could not see paying that much for a "fun" car.
Fast forward to January, I decided that I would give it one more go and purchase the 350; used of course from a BMW dealership in Indiana. The guy had owned it for approx 3 months. Needless to say, so far so good. This car is incredible and both my wife and I are enjoying it immensely. It's not a daily driver as I need a utilitarian vehicle to haul around my job related stuff, but that's ok. I plan on keeping it (God willing) for a long time and have settled in my mind what the car is going to be used for and that it's ok to drive it a lot... or let it sit for a time depending upon what's happening in my life. They key is to ask yourself "are you enjoying this car? do you look forward to driving it? Does it bring you Joy or stress you out? Do you look back at it each time you park it?
Sports cars, even at any level ..(exotic, mid-range, etc) are an expensive proposition when you are talking about wants vs needs. If you can test the waters out without losing your shirt financially you are in a blessed place.
IF I can give anyone some advice, Make sure you drive everything, every option and take as much time as you need. The 350 was difficult because dealerships would not let anyone test drive them when they first came out, but that's changed now. Unless it's a "halo" car you should be able to take it for a very extended drive (even overnight) if the dealership is smart and wants your business. I also recommend purchasing used if your on the fence and not sure about what your getting into. You will avoid that initial depreciation hit. Don't beat yourself up if you make some mistakes, it happens to all of us, just learn from them and move on...

 

[onebad58]

I called my insurance before I bought the car. he said it would bee 650 every 6 months. got my bill today its 903 every 6 months. in pissed.

 

[beetle6986]

I haven't had a chance to test drive most of the mustangs I bought. I purchased a 2004 Cobra new with 5 miles on it. You weren't allowed to test drive them. I'll admit, the first time I drove it I noticed the gears in the transmission were pretty loud, the clutch was heavy has hell and the shifter felt very notchy. MGW shifter a cobra bob's gasket fixed that. Either way, I really wanted the car and there wasn't much about it that could have changed my mind even if I did test drive it.

I just bought my 2016 Mustang GT with only 2,500 miles on it. I saw it on ebay and drove 7 hours with check in hand to get the car without ever seeing it or driving it. I guess this can backfire for some people when they aren't 100% sure it is what they wanted. I'm always a little reluctant to go into more debt for a car, but you only live once. Enjoy it.

I called my insurance before I bought the car. he said it would bee 650 every 6 months. got my bill today its 903 every 6 months. in pissed.

You must be pretty young or have a bad driver's record! I pay less than that for 4 cars all with 500+ HP each.

 

[Briebee72]

You must be pretty young or have a bad driver's record! I pay less than that for 4 cars all with 500+ HP each.

I was gonna say same I insure 3 cars full coverage and with 0 detectable (which makes your premium higher) and I still only pay 445 every 6 months.

 

[Mustang5ohMan]

I was gonna say same I insure 3 cars full coverage and with 0 detectable (which makes your premium higher) and I still only pay 445 every 6 months.

that’s what it is for me with 1 car. However I live in a populated city.