Sold my GT500 back to my dealer

[IceAge]

Yeh times of change are upon us and decided to sell my GT500 back to my selling dealer. They paid me exactly what I paid for it which there was 5k adm on mine. But they paid that and unfortunately due to the Pandemic hurting my company substantially I couldn’t pass up the deal. And not a sad story posting just a heads up the market is insane for used cars. I have sold back to my selling dealer 6 cars and everyone of them the same price I paid for them and some actually more. One example is a picked up a used 2018 Raptor in October of 2019 for 60k and just sold it for 68k wow just insane. And I have sold all my Hellcats as well and they have given me exactly what I paid for them as well. So for anyone here and or any friends that are wanting to sell their used car and doesn’t have to be the Mustang but damn used car values are thru the roof. And speculation is we are at the peak and won’t last a lot longer

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[FreePenguin]

I don’t understand the people buying them? Why won’t people just wait til cars are made instead of paying full or more for used cars just to have them NOW!

 

[IceAge]

I don’t understand the people buying them? Why won’t people just wait til cars are made instead of paying full or more for used cars just to have them NOW!

Yep it’s so crazy and just have to scratch your head but so many dealers have very light inventory. Guess if you’d selling 200-300 cars a month the goal is to keep it going no matter what the market but yeh totally agree it’s crazy. Just like the Boat market, RV Market, Motorcycle Market, Housing market……etc
And actually I am preparing for the next crash and retiring in a few years and relocating so Cash is King I believe in 18 months or so. Could be wrong but like they say prepare for the worst and hope for the best

 

[Louk]

I don’t understand the people buying them? Why won’t people just wait til cars are made instead of paying full or more for used cars just to have them NOW!

Some people are thinking they are getting so much more for the car they are trading in so that will offset the inflated price of the car they are buying. Essentially its a wash at that point.

 

[IceAge]

Some people are thinking they are getting so much more for the car they are trading in so that will offset the inflated price of the car they are buying. Essentially its a wash at that point.

Yeh not sure on that being the case and wow no in the hell way would I buy a new car right now due to exactly what you have said.

 

[IceAge]

It’s total time out time in my book. I think 2 years from now the home prices and land deals will be good deals and the car market will adjust back to normal as well IMO. We as humans are the exact as Mother Nature. It’s sunny and perfect and then there’s the wicked storm it’s just the cycle of life. And damn no way can the inflation sustain itself and or let’s hope not since how the hell will most be able to afford anything. And unbeknownst to many the housing market is being driven by investors due to new IRS tax codes. And investors will have better tax advantages by owning multiple less expensive homes than just one mega home. Foreign investors are in the market as well to force the middle class into renting homes than owning them since they will control the pricing market. Yep just really in unchartered waters being the Government is the main Contributor to money in the markets which Wow yikes. And that’s coming to an end this Summer.

 

[Louk]

Yeh not sure on that being the case and wow no in the hell way would I buy a new car right now due to exactly what you have said.

Agree things are crazy out of wack right now, We were able to snag a deal on a Raptor with the 37 package at MSRP. Take advantage of the used market by selling our Gen 2 and still get a "decent" relative deal on the new one.

 

[oregongt350]

Explain the human condition ????

 

[IceAge]

Explain the human condition ????

We as humans live in a nature fragile to the environment. My comparison is mother nature goes from one extreme to the other extreme. An example would be California years back was seeing the worst drought in years to only reverse to the most rains and floods in years. The Economy always adjusts at some point since nothing good or bad lasts forever. We are in an incredible times and now and wow how long does it last? Not the expert but have been around for 58 plus years and have seen this same scenario play out down the road from everyone has money to select few have all the money. And truthfully I have no desire to hope despair on anyone being Financially I am fine but feel I'd rather plan for the worst and hope for the best

 

[Myshelby3425]

They paid your taxes too? Vroom offered me $5k over MSRP

 

[IceAge]

They paid your taxes too? Vroom offered me $5k over MSRP

No just sale price and yeh good point but in all fairness to them they gave me 4K more on the Raptor than anywhere else. And for me I have never in my life owned cars and sold them back for sticker price and my Honda Civic R I paid 36 and got 37k. Cars are a total waste of money so I am very happy with what I have accomplished.

 

[Tomster]

So whats the plan, Stan?

Are you in for a 2021 or 22?

 

[Houston Kid]

Sold my 2020 GT500 to GivemetheVIN for $86,000 last week. I paid MSRP of $78,xxx so $8,000 over my MSRP deal for a car I drove for 6 months and put 3600 miles on. I am now number one for my dealership's 2022 allocation at MSRP. Just too good of a deal to pass up right now. I am content on waiting for a 2022.
I think the price for used cars is maxed and maybe headed down now. That's what the GMTVIN guy told me anyway.

 

[Tomster]

Sold my 2020 GT500 to GivemetheVIN for $86,000 last week. I paid MSRP of $78,xxx so $8,000 over my MSRP deal for a car I drove for 6 months and put 3600 miles on. I am now number one for my dealership's 2022 allocation at MSRP. Just too good of a deal to pass up right now. I am content on waiting for a 2022.
I think the price for used cars is maxed and maybe headed down now. That's what the GMTVIN guy told me anyway.

Get it in writing. drop a deposit. I hope it works out.

 

[IceAge]

So whats the plan, Stan?

Are you in for a 2021 or 22?

Oh I am on the fence since their is a lot of new things coming our way. And I have the new Bronco on order and have the Lightning on order as well. And for the record I still have my 2019 GT PP1 and Bullitt. I sold my Hellcats as well and feel cash will be king in 18 months or so. Plus I am getting ready to retire in a few years and will move to TN and I’m buying land to build a custom home. The main reason for my post is not a sad story but am incredible opportunity rarely seen in selling a used vehicle. And sure the GT500 we have will never depreciate like most cars. But I have my other Mustangs as well and truly love my GT and my daughter loved the Bullitt manual

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