Used mustang gt prices

[CrackedHorn]

Wife wants a mustang after falling in love with mine so we have been watching prices for a couple of years now. She is being patient and knows what she wants.

Good grief s550 prices are still crazy high in my area. Anything from 2015 to 2021 is essentially $33k+. But even stranger is that older s550's are selling for basically the same price as 2018-2021 models. And those prices are so close to a new model that it doesn't even make sense to buy used.

And of course nearly all models are $8k+ more than they were pre covid. Hopefully prices come down next year with the release of the s650.

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[Jstang23]

The prices being high are more than likely in anticipation of the new s650 having a lot of issues. Ford has been under a lot of scrutiny for quality issues and with all the new technology in the new s650 you can only imagine what will go wrong.

 

[Jasonb543]

Op… I looked for a gen3 car for around a year like yourself. People were still trying to ask basically MSRP on 3-4 year old cars with mileage.

I ordered a 24 GT for 43K… half of the goofballs online still want more than that for their used cars.
Mine should be here in August.

 

[Rock&Roll]

It's insane. KBB says I can get:
$28,943-$32,882 on a trade in
$29,662 - $33,711 for Private Party Value

I paid $37k for the car 7 years ago. That's crazy and tempting

 

[FreePenguin]

It's insane. KBB says I can get:
$28,943-$32,882 on a trade in
$29,662 - $33,711 for Private Party Value

I paid $37k for the car 7 years ago. That's crazy and tempting

I’d be on that and buy new one on a deal personally

 

[Rock&Roll]

I’d be on that and buy new one on a deal personally

The thing is, my Mk8 GTI is so much fun I'm not sure I need a Mustang

Cant believe I just typed that :(

 

[young at heart]

The prices being high are more than likely in anticipation of the new s650 having a lot of issues. Ford has been under a lot of scrutiny for quality issues and with all the new technology in the new s650 you can only imagine what will go wrong.

Just me, but I don’t think the vast majority of buyers are anywhere close to that thoughtful. Most people just figure if it isn’t right Ford will fix it.

We forum dwellers tend to assume that everyone analyzes things like we do, but they don’t.

Having said that I don’t have a clue why used prices are what they are.

 

[MAGS1]

Having said that I don’t have a clue why used prices are what they are.

Because there still isn’t enough new supply to push used prices down, although that is improving . And the new supply that is out there is not inexpensive so that pushes demand to used, even if the discount to new is relatively thin. For some, cheaper is cheaper even if in reality it’s not a great deal.

Another thing to consider with Mustang is that S550 production is now done and S650 is rolling off the line. There’s a good amount of folks (not just on forums) that are still unsure of S650, don’t like to be early adopters, etc. that would rather have an S550 for now. Those folks are keeping demand for used S550 high and in turn keeping prices high. You’d think the current interest rate environment would tamp down some of that demand but apparently it hasn’t, at least not around here.

 

[Tucker80]

Have you considered new? In my area there are still unsold 2022's, and if you time it right you can still occasionally get Ford financing at 0% for 60 (or longer). I picked up a 2022 in April that was heavily discounted and got it at 0%. It was less than many used were going for which was really crazy to see.

 

[shogun32]

It's insane. KBB says I can get:
$28,943-$32,882 on a trade in
$29,662 - $33,711 for Private Party Value

I paid $37k for the car 7 years ago. That's crazy and tempting

just try to get an offer for that though...

Dealer not too far from me has a 7000 mile GT for original MSRP. Problem is it's 6 years old.
The KBB valuations are still trying to catch up to reality and are at least 6 months behind.

 

[shogun32]

this is a simple example of prices correcting. 22 scat pack challenger with 6mt, only 300 miles, original MSRP $55,200

5/07/23 Listed $57,999
5/12/23 -$2,000 $55,999
5/17/23 -$2,000 $53,999
5/21/23 -$1,000 $52,999
5/27/23 -$530 $52,469
6/03/23 -$570 $51,899
6/10/23 -$520 $51,379
6/13/23 -$380 $50,999
6/16/23 -$300 $50,699
6/23/23 -$700 $49,999

So as recently as mid-May this MORON of a dealer thought he could get ADM on a 1yr old car!!
For July 4th weekend they'll probably hike the price a grand to see if some idiot will buy it and not pay attention.

 

[Traffic22]

Yeah, and don’t forget the system is heavily manipulated by Cox automotive to benefit dealerships. Cox owns several auction house, Auto Trader, and KBB.

Black book valuations are a little better, because they’re what finance institutions use.

I don’t mean to sound like crazy conspiracy theory guy, but the whole system is a bit rigged to screw us.

Cox Automotive:

https://www.coxenterprises.com/businesses/cox-automotive#:~:text=The%20global%20company's%20team%20members,clients%20across%20five%20continents%20and

Black Book Valuation:

https://autolink.io/mcdowellcornerstone/auto-values/used

Explanation of why car prices are still kind of messed up:



This one talks about the Cox Automotive market manipulation:

 

[MAGS1]

this is a simple example of prices correcting. 22 scat pack challenger with 6mt, only 300 miles, original MSRP $55,200

5/07/23 Listed $57,999
5/12/23 -$2,000 $55,999
5/17/23 -$2,000 $53,999
5/21/23 -$1,000 $52,999
5/27/23 -$530 $52,469
6/03/23 -$570 $51,899
6/10/23 -$520 $51,379
6/13/23 -$380 $50,999
6/16/23 -$300 $50,699
6/23/23 -$700 $49,999

So as recently as mid-May this MORON of a dealer thought he could get ADM on a 1yr old car!!
For July 4th weekend they'll probably hike the price a grand to see if some idiot will buy it and not pay attention.

Or you can be this guy selling his Demon 170 allocation for $187k over sticker…

 

[EFI]

Good grief s550 prices are still crazy high in my area.

You just have to look further out and be prepared to either drive and or get a car shipped.

Shopping around I found a car (mid pandemic craze) brand new for mid 30s (MSRP in the low 40s). Can't imagine spending that on a used car, especially 15-17 model.

 

[DopamineQuest]

It's insane. KBB says I can get:
$28,943-$32,882 on a trade in
$29,662 - $33,711 for Private Party Value

I paid $37k for the car 7 years ago. That's crazy and tempting

Your $37k 7 years ago is $46.8k today. You aren't getting the deal you think you are.

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