Used Market Pricing

[shogun32]

I'd love to find a decent FZ to restore.

I had an opportunity to buy a FZR400RRSP and was so stupid I didn't.

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[IPOGT]

I agree in part.
If I were to sell a molded car I'd try to sell to a private party hoping to recoup some of the cost of the mods.
Conversely I would never, ever pay more for a modded car. In fact, to me, a car with performance mods is actually worth less than a stock car. Performance mods are done for one reason only, to be able to push a car beyond what the factory intended. It also raises questions in my mind. Were the mods installed correctly? How much has the car been abused since (and before) the mods? How have the mods affected the warranty?
So, no, I'd not pay extra for mods.

I agree with you with the exception of one thing. Factory mods are made to customize to a particular personality not to push the car beyond what’s designed. The factory did intend to make the mods because the production line cannot deal with an over complication of parts combinations during assembly and still meet production timelines. Factory mods allow more factory options not normally available during production.

 

[fivepointslowski]

This is getting ridiculous on here too. 68K for a PP2 2020 with a factory Rousch used with low miles? What am I missing? Does anyone see a bubble like the housing back 2005-07. Is it true that banks if any will finance someone on a car that is already neg equity, but due to covid and no supply its costs 20 K more to buy the same things months ago with no end in sight.? when things get back to normal so many dudes are going to have 50% in Neg equity that there paying on with a used paperweight, it seems were headed to a bad territory and for those selling yea its great getting more money than you paid, but the upside is not good when its going to cost you more to get what you want as the other guy is screwing you over.

I digress on simple economics and finances as alot of folks love their cars and just throw money out thewindows, but how does anyone find financing on used cars these days when asking price is so out of hand? I mean I might as well take my 2016 GT, making 800 to the wheels, every mod known to man and ask 50K, although I paid about 30? No pun intended to those selling or buying its just my eyes keep seeing more and more higher prices that are equal to buying corvettes and more higher end performance cars.

 

[shogun32]

we're not buying back. We're just selling into this lunacy. Once the market corrects THEN we'll buy used or heck, new.

 

[fivepointslowski]

Soooo I guess I should join those ranks, sell to some sap ( Customer) for 20 K over what I paid cuz he wants a 800RWHP car this summer and their are none to buy and if the EPA gets their way no more tuned cars or ngauges I have have two LOL and then buy used once the car market goes back to where I can get the same car of less than 30 K.. ahhh got it..LOL

 

[ORRadtech]

This is getting ridiculous on here too. 68K for a PP2 2020 with a factory Rousch used with low miles? What am I missing? Does anyone see a bubble like the housing back 2005-07. Is it true that banks if any will finance someone on a car that is already neg equity, but due to covid and no supply its costs 20 K more to buy the same things months ago with no end in sight.? when things get back to normal so many dudes are going to have 50% in Neg equity that there paying on with a used paperweight, it seems were headed to a bad territory and for those selling yea its great getting more money than you paid, but the upside is not good when its going to cost you more to get what you want as the other guy is screwing you over.

I digress on simple economics and finances as alot of folks love their cars and just throw money out thewindows, but how does anyone find financing on used cars these days when asking price is so out of hand? I mean I might as well take my 2016 GT, making 800 to the wheels, every mod known to man and ask 50K, although I paid about 30? No pun intended to those selling or buying its just my eyes keep seeing more and more higher prices that are equal to buying corvettes and more higher end performance cars.

Banks will lend money based on a vehicles book value so as long as the book value increases, which I understand it is, they will loan more.

Doesn't mean it's smart to buy now but it's at least a partial explanation of how you can still get a loan.

FWIW, Corvette prices are up about 14% too. I really think most used cars value has increased recently and will probably stay up until the various factors resolve.

 

[Zelek]

https://www.vroom.com/inventory/ford-mustang-2017-1FA6P8CF3H5316811

My previous Mustang just went up for sale and I just got paid today for it. That price is out of this world.

 

[Muhnopoly]

I traded in a 2017 ecoboost base with 70k miles for 16k. Average KBB price was like 14k...ended up looking at a new 2020 GT with some add on priced at 42k and told them let's do 34k including taxes and fees and they gave me the keys an hour later.

 

[shogun32]

.ended up looking at a new 2020 GT with some add on priced at 42k and told them let's do 34k including taxes and fees and they gave me the keys an hour later.

about 24% off MSRP + TTL I'm guessing?

 

[NoVaGT]

I traded in a 2017 ecoboost base with 70k miles for 16k. Average KBB price was like 14k...ended up looking at a new 2020 GT with some add on priced at 42k and told them let's do 34k including taxes and fees and they gave me the keys an hour later.

Bro......pics.

 

[shogun32]

and then buy used once the car market goes back to where I can get the same car of less than 30 K.. ahhh got

precisely. Self interest is all that matters. That someone will buy your car for outrageous money is none of your concern.

It's it great to play in the same sandboxes as 'Shelby' and Porsche/Ferrari guys do? Man I feel like a million bucks!

 

[SourceSix]

This is getting ridiculous on here too. 68K for a PP2 2020 with a factory Rousch used with low miles? What am I missing? Does anyone see a bubble like the housing back 2005-07. Is it true that banks if any will finance someone on a car that is already neg equity, but due to covid and no supply its costs 20 K more to buy the same things months ago with no end in sight.? when things get back to normal so many dudes are going to have 50% in Neg equity that there paying on with a used paperweight, it seems were headed to a bad territory and for those selling yea its great getting more money than you paid, but the upside is not good when its going to cost you more to get what you want as the other guy is screwing you over.

I agree on the bubble comment. An expansion in prices as rapid as what we are experiencing now is likely to meet in a precipitous decline when the bubble ultimately pops. I would not want to be in the position of having bought a $30k car now that is worth $22k 6-12 months from now.

In regards to lenders, as someone else pointed out, they base that decision off the market/book value, which are obviously incredibly inflated, so they will continue to lend, and when things blow up, many will find themselves in positions of negative equity.

 

[fivepointslowski]

precisely. Self interest is all that matters. That someone will buy your car for outrageous money is none of your concern.

Well Actually it is my concern as a whole, when someone unknowingly buys your car for over inflated Prices just because, and the bubble bursts, the negative equity spills into a huge ordeal thats affects all mustang owners. A market that is then saturated with cars that are on lots that were once 50K and now have stabilized and are now worth a paultry 25K or less, People not able to pay the car notes since when they go to sell or trade in cant get near what they owe. Like the housing bubble, so did that affect all of us sure did, so when you say its not my concern, yea that effects my values and of course banks values and trade ins and my abilty to then purchase or trade for a fair value when I decide its time to purchase. I don't care if anyone plays into this game, I wont be one of them my pocketbook says otherwise.

 

[fivepointslowski]

I agree on the bubble comment. An expansion in prices as rapid as what we are experiencing now is likely to meet in a precipitous decline when the bubble ultimately pops. I would not want to be in the position of having bought a $30k car now that is worth $22k 6-12 months from now.

In regards to lenders, as someone else pointed out, they base that decision off the market/book value, which are obviously incredibly inflated, so they will continue to lend, and when things blow up, many will find themselves in positions of negative equity.

You mean 68K for you PP2 2021...lol then worth 30 in september..

 

[shogun32]

when someone unknowingly buys your car for over inflated Prices just because, and the bubble bursts, the negative equity spills into a huge ordeal thats affects all mustang owners

you will NEVER save stupid people from doing stupid things. When they suffer the pain, they'll learn their lesson.

If the banks stupidly loaned money they'll suffer well DESERVED losses. And they'll have to dump the reposessed assets at firesale prices where WE the WISE will lap them up at once in a lifetime low prices.

You can still TODAY buy brand new MY21 Mustangs for 13% off MSRP. You can TODAY buy MY20 leftover Dodge Charger/Challengers for 24-30% off MSRP. If you're fool enough to not buy at the sensible price, that's your own damn problem.

Just today there was a survey released that 68% of Millenials regret buying a house during the last 2 years. Because they bought at the top. They were stupid, they will feel the repercussions for the next 15 years. That's on them. And maybe they'll teach their kids not to be so friggin' stupid when it's their turn.

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