Trading a Mustang

[BimmerDriver]

Generally speaking, the only dealers who will appreciate the options and price your car appropriately is a Ford dealer. Even then, they are out to maximize their profits and of course they're going to start low.

Some options are worth money in the secondary market, and some are not.

Don't forget that this is a seller's market, and dealers generally have very little inventory and will try to maximize every sale. Three years ago it was more about volume, and they could take a loss on a sale to bump up their numbers and get an extra GT500. Now, they only have a couple of F150 work trucks to sell. If you want a Porsche or something cool like that, forget about it, there is no stock.

It's a different world.

Me, recently, I've sold my cars to Carvana or wholesale dealers. They pay surprisingly well these days, and there is no hassle like selling to an individual usually is. I also don't buy used because as someone mentioned earlier, why spend $50K on a used Mustang when I can buy a new one for $48K? Sure, I have to travel, and it takes time to find one at a dealer willing to work for a sale, but it can be done.

Good luck. It ain't easy.

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[Marsalad]

Thank you all for the responses…

In regard to “asking vs. telling”, I always play the “show me yours THEN I’ll show you mine“ game which means that I expect the dealer to make their offer first, even more so in the current market. If I start by saying I want $40k for my car but they would have given me $42k then I’ve just unwittingly screwed myself. Conversely if they offer $38k I can simply respond that I was expecting $42k and hopefully we can settle at the $40k I wanted in the first place.
As far as why I am considering a different vehicle, I feel that enthusiast type vehicles could very well disappear within my lifetime and I would like to experience as many as I can before they’re gone or priced out of my budget. I accept that I will probably never own an air-cooled 911 but I should at least own a Miata or Corvette at some point.
Finally, I have walked out of many dealerships over crappy deals. I drove in and I can just as easily drive out. The staff will know exactly why.
Any list of demands is pointless if you can’t convince the dealer to see things your way. You can’t force them to accept your terms. They will always have the upper hand. You can either accept the deal or walk away. If you walk away you don’t get the shiny you vehicle you wanted but retain your dignity. If you accept a lopsided deal you at least get a new car.

Either way the traditional car dealership is probably going to disappear and only those that lose their jobs will miss it. The customer will rejoice and while I can’t blame them I will miss scouring the lots for something new and exciting that I didn’t even know I wanted.

 

[Bulldog9]

I’ve been half-assed shopping around with no real intentions of trading unless the right deal comes along. It seems to me that a few dealers are offering low-ball trade allowances on my Mustang and I wondered if anyone else was experiencing this. One issue I seem to be having is that no one knows what a PP2 is and therefor they treat it like a PP1. Other dealers don’t even bother to add any option packages and offer base GT money. I have confirmed this using KBB and Truecar which align almost exactly with my assumptions. For example, KBB shows a base GT being worth $34-$36k while a PP2 with Recaro seats adds approximately $5000. TrueCar is similar with their values being about $2000 higher. I even used one dealer’s online tool (Edmunds True Value) and that was consistent with KBB and TrueCar.

My question is has anyone else experienced this and if so, how did you proceed?

I personally refuse to pay over MSRP and I will not accept a low-ball trade offer. I have an awesome car now and don’t need to trade. I just get restless and want to experience as many cool cars as possible before they get taken away.
I understand the current market for new cars but also understand the impact that it has on used car values. In the end it should be a wash. I’m not getting screwed twice.

Obligatory pic to draw attention.

What are you shopping for?

I want a 911, but don't want to spend the $$

Sell your car to the highest bidder at CarMax/Vroom/Carvana and walk in with cash. This USED to be how I bought cars with great success including getting $3K off a 2017 TRD PRO Tundra, and $5K off my 2020 Bullitt. Unheard of as both cars were normally ADM vehicles. Different times back then. I normally don't trade. Either sell privately, give away, or donate the old car.

This is the WRONG time to buy a car, and if you don't need to, dont. The Crash and great deals are coming. Be patient grasshopper ;-)

 

[IPOGT]

Why would you want to trade a PP2? You do know it's a discontinued option? Plus, the newer ones are lower HP and torque. If you're not trading up, I'd hang on to it for sure. Just my opinion.

I don’t want to criticize your decision, but I’m sure you can make a great deal on here with someone who’d love to have it and know the owner.

 

[Marsalad]

I thought about listing here in the classifieds. I may do that. I’d rather not put it on FB or Craigslist and deal with all that.

 

[Rock&Roll]

I thought about listing here in the classifieds. I may do that. I’d rather not put it on FB or Craigslist and deal with all that.

what about Carvana or Vroom ?

I know 2 people that had good luck with Vroom recently. Said it was real easy and they got good value. Vroom offered me $28,750 for my 16 GT Premium yesterday. It’s tempting.

 

[jd_cobra]

Thank you all for the responses…

In regard to “asking vs. telling”, I always play the “show me yours THEN I’ll show you mine“ game which means that I expect the dealer to make their offer first, even more so in the current market. If I start by saying I want $40k for my car but they would have given me $42k then I’ve just unwittingly screwed myself. Conversely if they offer $38k I can simply respond that I was expecting $42k and hopefully we can settle at the $40k I wanted in the first place.
As far as why I am considering a different vehicle, I feel that enthusiast type vehicles could very well disappear within my lifetime and I would like to experience as many as I can before they’re gone or priced out of my budget. I accept that I will probably never own an air-cooled 911 but I should at least own a Miata or Corvette at some point.
Finally, I have walked out of many dealerships over crappy deals. I drove in and I can just as easily drive out. The staff will know exactly why.
Any list of demands is pointless if you can’t convince the dealer to see things your way. You can’t force them to accept your terms. They will always have the upper hand. You can either accept the deal or walk away. If you walk away you don’t get the shiny you vehicle you wanted but retain your dignity. If you accept a lopsided deal you at least get a new car.

Either way the traditional car dealership is probably going to disappear and only those that lose their jobs will miss it. The customer will rejoice and while I can’t blame them I will miss scouring the lots for something new and exciting that I didn’t even know I wanted.

Thats why it never hurts to build a relationship with one of your local ford dealers. The owner has always been involved in my transactions as well my sales guy.

I always look at kbb and similar sites to see what the car is worth valued with the options I have. Then I research the area to see if there are any cars in the area (100 miles) with my options, mileage and what they are going for so I know for how much to ask. They are giving me $39.5k for a 2021 301a M6 with 6k miles on it which isn’t bad, plus taking care of the destination charge. If they can’t meet the asking price for the trade in, they always compensate with free gap or service package of some sort which isn’t a lot but it’s something.

But you have a nice car! I even contemplated race red but I don’t want to stick out too much, plus like others have said, PP2 is no longer offered. But good luck with whatever you decide!

 

[Marsalad]

Again, great responses!

I live in a rural area and haven’t had any success with the major online chains like Carvana, CarMax, Vroom, etc. because I’m too far away from any of their locations and they refuse to give an accurate price sight unseen because of the “rarity” of my vehicle.

I do have an excellent relationship with a local Ford dealer, especially considering my household has purchased seven new and one used Ford in the past five years from them. I’m not currently looking for a Ford so this doesn’t really help me much at this time.


To jd_cobra:
I would be content with $39.5k trade allowance for my car, which is a 2020 301a with PP2/Recaro seats and 6500 miles.

In the end if I don‘t get what I want for my car I still have a cool car. There are much more important things to worry about.

 

[TonyNJ]

I sold a PP2 last year. Yes, they're worth more, but the market for that car is smaller. More niche. Your options are $6500 PP2 and $1600 Recaros, but less people want that more extreme ride so it's harder to resell. You should expect about about 5k or so more for that. Take your time and find the right buyer and you'll get your money's worth.

 

[Cobra Jet]

The way you play cards with any local dealer is this:

Find the car on their lot you’re interested in. If they ask if you have a trade, say no. Get them to their best pricing where you and they can agree on. Get the “final” deal in writing and if applicable, put a small “good faith” refundable deposit on it. Tell them you’ll be back the next day to complete the paperwork, because you have to get your “cash” or finances in order. In most instances, the Sales guy is hungry and will get all of the paperwork filled out so it’s ready for the next day.

The next day, show up with your trade and tell them that you’re going to trade in your vehicle against the car you’re buying. They can’t change their “deal” that you and them already agreed on previously and it’s in writing.

So now they’re F’d and you hold the card. If they don’t give you what you’re looking to get for the trade, tell them regrettedly you’re walking, deal is off. If they need your sale to make their monthly or Qtrly. Sales figures, they’re not going to let you just walk…

Trust me, it works, from personal experience. I had one dealer so ticked, because the sales guy was like, “you told me you didn’t have a trade”…. Sure I did… just not that day.

 

[KingKona]

I would highly suggest radically changing your entire approach.

.....In regard to “asking vs. telling”, I always play the “show me yours THEN I’ll show you mine“ game which means that I expect the dealer to make their offer first, even more so in the current market.

Erase the concept of "games" from your thought process. This is a "yes or no" situation. Black or white. A or B. The current market means nothing. There's just getting what the market value is for your car, and letting the dealer "make their offer first" means you're not in control of the situation.

You do your own home-work and know precisely what your vehicle is worth. You TELL them what they're going to pay you for it. You can't let the dealership start with their shell game, you will end up losing every time. YOU dictate and control the entire process from start to finish.

If I start by saying I want $40k for my car but they would have given me $42k then I’ve just unwittingly screwed myself. Conversely if they offer $38k I can simply respond that I was expecting $42k and hopefully we can settle at the $40k I wanted in the first place......

The dealer will NEVER offer you more than your car is worth, so that entire part of your thought process needs to disappear. They're NEVER going to surprise you and offer you more than KBB trade-in value. It will ALWAYS be lower. You will never "screw yourself" by telling them what they are going to pay you for your vehicle.

And if they do offer you more than your car is worth, that's because they've jacked-up the price on the car they're selling you, and you're getting screwed there.

I think you need to look into philosophy a bit, and practice some critical thinking. Car sales is a shell game where they hide profit dollars here, there, everywhere. They move it around, stash it, conceal it, let morons play a "game" and get lost in the emotional content of the situation. Only by completely controlling and dictating can you turn over all the shells and give them no place to hide big profit dollars.

Or, just keep getting screwed.

 

[IPOGT]

I just do research of what my trade is worth on the open market and then consider any special factors. For instance, low miles, exceptionally clean carfax free one owner cars always get a big bump on the open market because the car then becomes more unique. Once I know the market value, the deal should have profit for the dealer, so I knock off a percentage of my expectation if I’m getting a good deal on the other side. People have to make money to stay in business and it’s possible I may need help along the line, so I like to let everyone win…..a little. To me, that’s a good deal.

 

[Marsalad]

I would highly suggest radically changing your entire approach.



Erase the concept of "games" from your thought process. This is a "yes or no" situation. Black or white. A or B. The current market means nothing. There's just getting what the market value is for your car, and letting the dealer "make their offer first" means you're not in control of the situation.

You do your own home-work and know precisely what your vehicle is worth. You TELL them what they're going to pay you for it. You can't let the dealership start with their shell game, you will end up losing every time. YOU dictate and control the entire process from start to finish.



The dealer will NEVER offer you more than your car is worth, so that entire part of your thought process needs to disappear. They're NEVER going to surprise you and offer you more than KBB trade-in value. It will ALWAYS be lower. You will never "screw yourself" by telling them what they are going to pay you for your vehicle.

And if they do offer you more than your car is worth, that's because they've jacked-up the price on the car they're selling you, and you're getting screwed there.

I think you need to look into philosophy a bit, and practice some critical thinking. Car sales is a shell game where they hide profit dollars here, there, everywhere. They move it around, stash it, conceal it, let morons play a "game" and get lost in the emotional content of the situation. Only by completely controlling and dictating can you turn over all the shells and give them no place to hide big profit dollars.

Or, just keep getting screwed.

While I respect your different opinion I have to suggest YOU radically change your approach in regard to giving others advice. Your use of insults (moron) and absolutes (always, never) renders what you say useless. This is not because I’m a snowflake but rather I feel your inability to make a point without these tactics calls your intelligence into question. I am curious as to how many times your approach has actually been successful.

Buying a vehicle is a negotiation and is rarely black or white, yes or no like you claim. It is a shell game and both sides are looking out for their own best interests. I have purchased many vehicles over the past thirty years, both private sale and from dealerships. I have worked as a car salesperson. I’ve also worked in parts and service at multiple dealerships. I feel I have a decent grasp of the process. I know where most of the profit is hidden and I’m OK with dealerships making money. Where I draw the line is at “getting screwed” and that is what I feel is happening at this dealership. I feel that my approach of getting their number first puts me in control because now I am able to respond according to where I actually want to be. This method has worked for me the majority of the time. On the rare occasion it doesn’t work I can pivot to one of the other areas the dealership makes money, like the price of their vehicle or the financing.
To prove my point I recently spoke with a dealer that initially offered me $35k for my car. I told them I was expecting something in the low 40’s and their offer didn’t work for me. I had research to back up my claim. I also had other outlets if I couldn’t get them to budge. In the end I got $2500 off MSRP and $41k for my car. At no point did I demand that the dealer had to accept anything. I did tell them where I would be happy and eventually we came to an agreement. The fact that the initial offer and the final transaction price were $8500 apart shows me there is PLENTY of wiggle room from the start.

Full disclosure: I may be one of the few people that relishes the negotiation almost as much as getting a new car. I guess it makes me feel “alpha” in this increasingly soft world.

 

[young at heart]

The way you play cards with any local dealer is this:

Find the car on their lot you’re interested in. If they ask if you have a trade, say no. Get them to their best pricing where you and they can agree on. Get the “final” deal in writing and if applicable, put a small “good faith” refundable deposit on it. Tell them you’ll be back the next day to complete the paperwork, because you have to get your “cash” or finances in order. In most instances, the Sales guy is hungry and will get all of the paperwork filled out so it’s ready for the next day.

The next day, show up with your trade and tell them that you’re going to trade in your vehicle against the car you’re buying. They can’t change their “deal” that you and them already agreed on previously and it’s in writing.

So now they’re F’d and you hold the card. If they don’t give you what you’re looking to get for the trade, tell them regrettedly you’re walking, deal is off. If they need your sale to make their monthly or Qtrly. Sales figures, they’re not going to let you just walk…

Trust me, it works, from personal experience. I had one dealer so ticked, because the sales guy was like, “you told me you didn’t have a trade”…. Sure I did… just not that day.

Finally, somebody gets it!

Cobra Jet has just succinctly explained the only way the average consumer will ever know exactly what the true wholesale ACV (Actual Cash Value) is that the dealer is putting into his trade in. You can then make an informed decision.

Hey, look at it this way: the dealer is invariably gonna lie to you at some point, so what’s the big deal about lying to him? Just tell him you had the trade in sold but the buyer backed out at the last minute.

 

[Marsalad]

Finally, somebody gets it!

Cobra Jet has just succinctly explained the only way the average consumer will ever know exactly what the true wholesale ACV (Actual Cash Value) is that the dealer is putting into his trade in. You can then make an informed decision.

Hey, look at it this way: the dealer is invariably gonna lie to you at some point, so what’s the big deal about lying to him? Just tell him you had the trade in sold but the buyer backed out at the last minute.

No one has any proof that this method actually results in a better deal. It’s shady and not the best way to develop a good relationship with your dealer, which in my opinion is the best way to get good deals in the future. This is how I got a new Bronco last fall for under MSRP plus an excellent trade in allowance.

Anyway, I started this thread to see if others were getting low-balled on Mustang trade allowances. While I appreciate the responses and diverse points of view, has anyone had much luck getting a reasonable trade in offer or trade difference?

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