Sponsored

Used Market Pricing

SourceSix

Member
Joined
Jul 31, 2020
Threads
2
Messages
7
Reaction score
2
Location
Ohio
Vehicle(s)
Ford Escape
Apologies if this is the wrong place to ask - Mods please delete if this is the case

So I've been in the market for an S550 for a few months now. As we are all well aware, the used car market, including Mustang's, is absolutely nutty right now. I was hoping you guys could provide some checks and balances to let me know what you consider a fair price for the following:
  • 2016 Mustang GT
  • Premium
  • Manual
  • 49k miles
  • NO performance pack
  • Clean title
  • No damage, clean inside/out, mechanically solid
List price on the above car is $31k, and that seems to be the going rate for similar stangs ($29k-$32k). I realize in a more rational market these prices would be a bit lower, but given the current environment with Covid and supply/demand, does this seem fair?
Sponsored

 
Last edited:

Bikeman315

Well-Known Member
Joined
Apr 12, 2015
Threads
520
Messages
15,243
Reaction score
19,264
Location
Myrtle Beach, SC
First Name
Ira
Vehicle(s)
2019 Mustang GT/CS, 2021 Volvo XC60
Apologies if this is the wrong place to ask - Mods please delete if this is the case

So I've been in the market for an S550 for a few months now. As we are all well aware, the used car market, including Mustang's, is absolutely nutty right now. I was hoping you guys could provide some checks and balances to let me know what you consider a fair price for the following:
  • 2016 Mustang GT
  • Premium
  • Manual
  • 49k miles
  • NO performance pack
  • Clean title
  • No damage, clean inside/out, mechanically solid
List price on the above car is $31k, and that seems to be the going rate for similar stangs ($29k-$32k). I realize in a more rational market these prices would be a bit lower, but given the current environment with Covid and supply/demand, does this seem fair?
Seems like it is in the ballpark depending on options.

https://www.cars.com/for-sale/searc...d=23885&transTypeId=28112&yrId=58487&zc=29579
 

Torched10

Well-Known Member
Joined
May 15, 2019
Threads
99
Messages
1,040
Reaction score
393
Location
Atlanta
First Name
Bob
Vehicle(s)
2019 gt premium convertible. 2017 caddy xts vsport twin turbo.2011 caddy ext
Apologies if this is the wrong place to ask - Mods please delete if this is the case

So I've been in the market for an S550 for a few months now. As we are all well aware, the used car market, including Mustang's, is absolutely nutty right now. I was hoping you guys could provide some checks and balances to let me know what you consider a fair price for the following:
  • 2016 Mustang GT
  • Premium
  • Manual
  • 49k miles
  • NO performance pack
  • Clean title
  • No damage, clean inside/out, mechanically solid
List price on the above car is $31k, and that seems to be the going rate for similar stangs ($29k-$32k). I realize in a more rational market these prices would be a bit lower, but given the current environment with Covid and supply/demand, does this seem fair?
Hi much more for new one with factory warranty etc.seems when I bought mine in 2019 New was around 35
 

NoVaGT

Banned
Banned
Banned
Joined
Sep 29, 2016
Threads
115
Messages
5,682
Reaction score
4,410
Location
Northern Virginia
Vehicle(s)
2019 PP1 GT Kona
Went to make my payment at FoMoCo credit, and there's an add directed at me for a new Ecoboost Premium Convertible for 150$ more a month than I'm spending now.

Good Lord, but these Mustangs.....

1620482379434.png
 

Sponsored

speedfrk

Well-Known Member
Joined
Sep 11, 2015
Threads
36
Messages
949
Reaction score
358
Location
Atlanta
Website
www.nationalsuperbike.com
First Name
Curt
Vehicle(s)
2022 Nissan Frontier
There are 2020 leftover cars that you can get a decent deal on. The benefit of that is better financing, full warranty and of course it is worth a lot more when you trade or sell after you put another 40-50K miles on it. If you can live without it being a premium, you have a lot more cars available, too.
 
OP
OP

SourceSix

Member
Joined
Jul 31, 2020
Threads
2
Messages
7
Reaction score
2
Location
Ohio
Vehicle(s)
Ford Escape
There are 2020 leftover cars that you can get a decent deal on. The benefit of that is better financing, full warranty and of course it is worth a lot more when you trade or sell after you put another 40-50K miles on it. If you can live without it being a premium, you have a lot more cars available, too.
Maybe it's just my local market, but there aren't many 2020's available in my area, and they're priced quite a bit higher $37-40k. Regarding trim level, I've sat in both a base GT and a Premium, and I can't do the base, premium was way better. What's crazy is that a lot of these dealers are selling these used cars at huge markups and they're also not certified pre-owned. So you're looking at dropping $30k on a 50k mile car with no warranty.
 
OP
OP

SourceSix

Member
Joined
Jul 31, 2020
Threads
2
Messages
7
Reaction score
2
Location
Ohio
Vehicle(s)
Ford Escape
Forgot to mention, the car probably has $4-5k worth of mods, mostly FBO (Headers, H-pipe, axle-back, CAI, tune) with some cosmetics as well. I know it's hard to recoup sunk cost on mods, but at the same time they certainly elevate the value of the car, as it looks and drives/performs better than stock. Anyone have thoughts on average resale value of aftermarket mods? I figure if a guy drops $5k on mods, they got to be worth at least half that when it comes time to sell.
 

Mikepol2

Well-Known Member
Joined
Jul 17, 2018
Threads
116
Messages
3,148
Reaction score
5,077
Location
Pittsburgh, PA
First Name
Mike
Vehicle(s)
2021 Mach 1, 2019 Ram 1500
Forgot to mention, the car probably has $4-5k worth of mods, mostly FBO (Headers, H-pipe, axle-back, CAI, tune) with some cosmetics as well. I know it's hard to recoup sunk cost on mods, but at the same time they certainly elevate the value of the car, as it looks and drives/performs better than stock. Anyone have thoughts on average value of aftermarket mods? I figure if a guy drops $5k on mods, they got to be worth at least half that when it comes time to sell.
In my experience dealers tell you the mods aren't worth anything and they have to base their trade offer on the VIN and what the car came with from the factory. I've added leather Recaros, Ford Performance suspension and 4.09's, and factory Sync 3 to my car, and the dealer said they're really just tie breakers and wasn't willing to up the trade value for them.
 

Treefrog

Well-Known Member
Joined
Jan 12, 2021
Threads
9
Messages
121
Reaction score
226
Location
Erie, PA
Vehicle(s)
2021 mustang gt premium
Forgot to mention, the car probably has $4-5k worth of mods, mostly FBO (Headers, H-pipe, axle-back, CAI, tune) with some cosmetics as well. I know it's hard to recoup sunk cost on mods, but at the same time they certainly elevate the value of the car, as it looks and drives/performs better than stock. Anyone have thoughts on average resale value of aftermarket mods? I figure if a guy drops $5k on mods, they got to be worth at least half that when it comes time to sell.
From my experience mods take away from the value of a car. Most people would rather buy a clean stock 2016 mustang than one with the mods listed.

Something is worth what someone is willing to pay. But a bank will only finance up to blue book. They they ask above that banks won't finance it.
 

Sponsored

Cobra Jet

Well-Known Member
Joined
Feb 12, 2015
Threads
707
Messages
16,237
Reaction score
17,947
Location
NJ
Vehicle(s)
2018 EB Prem. w/PP and 94 Mustang Cobra
What's the VIN?
 

Hi-PO Stang

Well-Known Member
Joined
Nov 11, 2013
Threads
3
Messages
1,559
Reaction score
606
Location
Minnesota
Vehicle(s)
2014 Shelby GT500
If I were to sell a car with mods , I would try to sell to a private buyer and not a dealer. If I was buying a Mustang with mods , I would consider paying more for it than a stock Mustang.
 

ORRadtech

Well-Known Member
Joined
Sep 12, 2019
Threads
21
Messages
2,490
Reaction score
2,188
Location
Atlanta, Georgia
First Name
Dave
Vehicle(s)
18 Mustang EcoBoost convertible, 14 Ford Fusion SE
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.
 

Torched10

Well-Known Member
Joined
May 15, 2019
Threads
99
Messages
1,040
Reaction score
393
Location
Atlanta
First Name
Bob
Vehicle(s)
2019 gt premium convertible. 2017 caddy xts vsport twin turbo.2011 caddy ext
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.
For me id never buy a modded car,you just don't know how much it's been abused.unless I knew the owner.ill,mod it myself if I want mods,but you'll bevupside down when you sell it.
 

NewAmerican

Active Member
Joined
May 9, 2021
Threads
1
Messages
27
Reaction score
12
Location
California
First Name
Aaron
Vehicle(s)
None!
Apologies if this is the wrong place to ask - Mods please delete if this is the case

So I've been in the market for an S550 for a few months now. As we are all well aware, the used car market, including Mustang's, is absolutely nutty right now. I was hoping you guys could provide some checks and balances to let me know what you consider a fair price for the following:
  • 2016 Mustang GT
  • Premium
  • Manual
  • 49k miles
  • NO performance pack
  • Clean title
  • No damage, clean inside/out, mechanically solid
List price on the above car is $31k, and that seems to be the going rate for similar stangs ($29k-$32k). I realize in a more rational market these prices would be a bit lower, but given the current environment with Covid and supply/demand, does this seem fair?
Hi, I don't really have much to add except commiserations - I'm in the same boat as you, looking for almost exactly the same thing!

There doesn't seem to be much out there matching what I'm after. I've seen a few private sales online for around $30k, but they've all been around 2 hours drive away from me and I haven't been able to get out to see them. At a dealer 32 - 34k seems to be the going rate.

I've never bought a new car in my life, but since it's around $42k for something along the right lines in a new 2020 model I'm starting to consider it...
Sponsored

 
 




Top