Sold my baby, need consoling - did I get a good deal?

clevernickname

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tldr:

1) bought 2015 mustang gt base with Auto for 36k, sold 5.5 years later with maybe 3-4k in mods, at 45k KMs, $5800 in claims/accidents/repairs. sold for $26k after 4 days of listing it, listed at $28k. good deal?

2) Used car dealer i sold it to listed it at 30k and sold within 4 days. wut?? did i mess up?

3) new 2020 mustang gt, base like mine, msrp for 35k because of delivery allowance and ford employee discount. who would buy a used one for similar price?!

Long version

https://vancouver.craigslist.org/van/cto/d/vancouver-2015-ford-mustang-gt-low-kms/7178566913.html

All info on the ad. Except I bought for 36k. 42k msrp and after employee discount and costco discount came to 36k before tax. Sold for 26k CDN.

3 accidents. most major was hit and run and my mirror side swiped and replaced. But that was only thing hit so just mirror replaced. Other 2 were pretty much scrapes so just paint. Total was $5800 in damages.

I am buying another car in 6-12 months when covid is "less severe" and figured i'd jump on the high sales of used cars. I listed at 28k and sold at 26k. Frankly I thought without covid, a mass produced base level pony would've depreciated by at least half over 5.5 years. But I only lost about 10k.

Now i'm not even sure it was a good deal because it sold in 5 days. I was in a rush because September almost here and in vancouver means usually a lot of rain and less sports car selling time.

The other thing making me regret it is it was sold to a used car dealer that found me, and they listed it at 30k immediately after, and sold it within 4 days. I'm assuming people pay more at dealerships, and/or it probably got haggled down to like 28k and they offer financing which attracts more customers?

BUT what is perplexing me even more, is that a NEW 2020 mustang GT, base level like mine, is currently going for 35k on ford.ca due to delivery allowance and ford employee discount. Who wouldn't pay 5k more for a completely new car. My mods weren't that expensive at all, especially since I got it all on sale.





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andyturbo2000

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10k lost in five years? I’d say that’s fine. Dealer inspires buyer confidence (Warranty etc.) so cars are worth more and are more attractive.
 

LxMike

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The other thing making me regret it is it was sold to a used car dealer that found me, and they listed it at 30k immediately after, and sold it within 4 days. I'm assuming people pay more at dealerships, and/or it probably got haggled down to like 28k and they offer financing which attracts more customers?

This most likely! It was easier to do it all at one time, rather than having to go to the bank and do all the paperwork and back to the buyer and then to get the insurance and plates.
 

ice445

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I don't think there's many 2020 base cars out there right now, people have been buying them up left and right, along with many other forms of toys like jetskis and such. So the person who bought it probably just wanted a Mustang, sat in yours, and was happy enough to buy.
 

Shifting_Gears

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I’d say you made out pretty well, certainly given the age, mileage and damage history (although nothing extensive).

A dealer will always have the upper hand versus private sale because they can offer financing.
 

Ebm

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The only thing that hurt you was the accidents/repairs. I'm guessing they were reported so they showed up on a CarFax? Dealers will absolutely give you less money on a car with a reported accident regardless of the damage. Then... they list the car on their lot for several grand more and downplay the accident history. Oh, it was a very minor fender bender, barely scuffed the paint. It's all a game man.

Everything else was looking good. 28k miles on a 2015 is really low and that helped you out.

I'd say you did pretty well.
 

Balr14

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You made an excellent deal. No dealer is going to give you much more than wholesale or they wouldn't make much profit when they sold it. Wholesale is typically $4k - $5 less than retail.
 

cmxPPL219

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Agreed with the other posts.

I'd add:
-Trade Value:
You did very well for a trade value considering you had claims. I would consider yourself lucky. Most times, your trade value will be severely affected by any sort of claims. Mods do as well, you mention you had them. Did you take them off? If you didn't, that would have given them even more reason to knock down value. You did very well, considering.

-The Car Selling Relatively Quick:
Just because the car seemingly sold quick, doesn't have much bearing on whether or not you got a good deal on a trade. Even through advertised price is a huge factor for a shopper, it's not the only factor. Equipment, features, trim, etc., are all factors. In other words, the car could be priced below market, but if it doesn't have a set of features or trim that is very popular, the unit will sit. You can see this for yourself in ads here and there, where the colour combo, features etc., of a car, cause it to sit in a dealer's inventory, despite the great price it's listed at.
Also, your particular vehicle was just the right price at the right equipment level, at the right time for a specific buyer, and he/she snapped it up.

-The Seemingly Better Value to Just Buy New:
Not a lot of people want to buy new for many reasons. $5k or so, which is also an extra $5k to be taxable, may still be too much for some buyers to swing. The same logic applies when some of us, as customers, negotiate and fight for every couple hundred dollars off to get to our desired price to pay on a a vehicle; Or, trade-in value that meets our desired goal. $5k for some folks could be too much of a spread just to get into the new vehicle.
 

Balr14

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I don't know if this is true in Canada, but in many states, the dealer has huge advantage in that a buyer only pays sales tax on the difference between their trade-in and car they are purchasing. That's worth thousands.

As for how fast it sold, you can drive yourself crazy second guessing. A car I'm interested in has been on the market for several months and is priced many thousands below market value. It just has a combination of things that isn't desirable to a big audience... who knows?
 

Qcman17

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I don't know if this is true in Canada, but in many states, the dealer has huge advantage in that a buyer only pays sales tax on the difference between their trade-in and car they are purchasing. That's worth thousands.

As for how fast it sold, you can drive yourself crazy second guessing. A car I'm interested in has been on the market for several months and is priced many thousands below market value. It just has a combination of things that isn't desirable to a big audience... who knows?
Yes it is the same here you pay tax on the difference and here it is 13%. I traded my Camaro in because I needed to get $3000 more for it privately due to taxes than the trade offer which I'm sure I could have but not a lot more. It wasn't worth the hassle and test pilots for perhaps another 1000 if I could have even gotten that.
 

Doc2020GT

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Once you sell or give away something it’s gone, I’ve learned to prevent sellers remorse never go online or by the dealer and see what they’re selling it for. It’s a guarantee to have remorse and think about the “what if’s”.
 

hiccup

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Agreed with the other posts.

I'd add:
-Trade Value:
You did very well for a trade value considering you had claims. I would consider yourself lucky. Most times, your trade value will be severely affected by any sort of claims. Mods do as well, you mention you had them. Did you take them off? If you didn't, that would have given them even more reason to knock down value. You did very well, considering.

tldr:

1) bought 2015 mustang gt base with Auto for 36k, sold 5.5 years later with maybe 3-4k in mods, at 45k KMs, $5800 in claims/accidents/repairs. sold for $26k after 4 days of listing it, listed at $28k. good deal?

2) Used car dealer i sold it to listed it at 30k and sold within 4 days. wut?? did i mess up?

3) new 2020 mustang gt, base like mine, msrp for 35k because of delivery allowance and ford employee discount. who would buy a used one for similar price?!

Long version

https://vancouver.craigslist.org/van/cto/d/vancouver-2015-ford-mustang-gt-low-kms/7178566913.html

All info on the ad. Except I bought for 36k. 42k msrp and after employee discount and costco discount came to 36k before tax. Sold for 26k CDN.

3 accidents. most major was hit and run and my mirror side swiped and replaced. But that was only thing hit so just mirror replaced. Other 2 were pretty much scrapes so just paint. Total was $5800 in damages.

I am buying another car in 6-12 months when covid is "less severe" and figured i'd jump on the high sales of used cars. I listed at 28k and sold at 26k. Frankly I thought without covid, a mass produced base level pony would would've depreciated by at least half over 5.5 years. But I only lost about 10k.

Now i'm not even sure it was a good deal because it sold in 5 days. I was in a rush because September almost here and in vancouver means usually a lot of rain and less sports car selling time.

The other thing making me regret it is it was sold to a used car dealer that found me, and they listed it at 30k immediately after, and sold it within 4 days. I'm assuming people pay more at dealerships, and/or it probably got haggled down to like 28k and they offer financing which attracts more customers?

BUT what is perplexing me even more, is that a NEW 2020 mustang GT, base level like mine, is currently going for 35k on ford.ca due to delivery allowance and ford employee discount. Who wouldn't pay 5k more for a completely new car. My mods weren't that expensive at all, especially since I got it all on sale.
Just because the car seemingly sold quick, doesn't have much bearing on whether or not you got a good deal on a trade. Even through advertised price is a huge factor for a shopper, it's not the only factor. Equipment, features, trim, etc., are all factors. In other words, the car could be priced below market, but if it doesn't have a set of features or trim that is very popular, the unit will sit. You can see this for yourself in ads here and there, where the colour combo, features etc., of a car, cause it to sit in a dealer's inventory, despite the great price it's listed at.
Also, your particular vehicle was just the right price at the right equipment level, at the right time for a specific buyer, and he/she snapped it up.

-The Seemingly Better Value to Just Buy New:
Not a lot of people want to buy new for many reasons. $5k or so, which is also an extra $5k to be taxable, may still be too much for some buyers to swing. The same logic applies when some of us, as customers, negotiate and fight for every couple hundred dollars off to get to our desired price to pay on a a vehicle; Or, trade-in value that meets our desired goal. $5k for some folks could be too much of a spread just to get into the new vehicle.
Seems like demand is high for 15-17 base gt's right now..you did well..Ive been tormented over a week now on whether to let my 15 gtpp go to carvana for 28,500..low miles too..what is crazy is that they offered me only 22,000 a few months back..
 

Sigma6

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If you felt it was a good deal at the time you sold it , then don’t worry about it.

The reverse could be said if someone buys a mustang at the end of the month and 2 days later found out if they wanted til the month they’d get an additional rebate.

Again, if you’re satisfied at the time of purchase or sale. Great. Because you can find buyers remorse in just about everything and it can make you eternally depressed through life.
 

cmxPPL219

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I don't know if this is true in Canada, but in many states, the dealer has huge advantage in that a buyer only pays sales tax on the difference between their trade-in and car they are purchasing. That's worth thousands.

As for how fast it sold, you can drive yourself crazy second guessing. A car I'm interested in has been on the market for several months and is priced many thousands below market value. It just has a combination of things that isn't desirable to a big audience... who knows?
It's true, same in Canada.
Agree 100% - if it's a situation where you're trading in the car (OP just sold his to the dealer), a lot of times, the tax savings just makes it worth it by not dealing with the hassle of privately selling and all the BS that comes with it (time-wasting tire kickers, test pilots, flaky ppl, etc, etc). This is actually what I did, I traded in my 17 for my 19 and didn't even consider doing a private sale.
 

cmxPPL219

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Seems like demand is high for 15-17 base gt's right now..you did well..Ive been tormented over a week now on whether to let my 15 gtpp go to carvana for 28,500..low miles too..what is crazy is that they offered me only 22,000 a few months back..
Yeah, its crazy - a good friend of mine works in used car sales and essentially echos this sentiment.
 

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