I think we all got raped : (`

robert_gstv6 · Jul 31, 2005

I was curious about the re-sale value of these cars ( I got the v6) I had planned on trading it back in, i have had the car for two months paid 27k (financed) and 2 dealerships i wanted to trade it in to offered me 15k for trade mitsubishi offered me 12,500 they told me thats all the car was worth, its spotless (except for the fact that someone keeps egging it) and only has 1400 miles on it wtf? Is this only because the kbb hasn't been made for the 05 models yet? Or is that really what the re-sale on these cars is?!? I just lost 12k in depreciation in 2 months WTF!?!?

martimus · Jul 31, 2005

Maybe the dealerships figure that they can buy it from you for $15k and then turn around and re-sell it for $20k to $25k. Depending on where you live there is a tremendous demand for these cars. All I could imagine otherwise is that there isn't a high demand in your area.

gp001 · Jul 31, 2005

This can't be a real post. But I'll move it to Talk so Doc can deal with it.
Sorry Doc

robert_gstv6 · Jul 31, 2005

sorry i wasn't sure where to post it, but yeah I live in modesto california, the only excuse they gave me is that they made alot of them, which I don't get because ford dealership has trouble keeping them on the lot, why me. If I was going to be stuck with it I wanted to be stuck with atleast the v8. I'm looking at a few other options I still have my gst with blown motor and still owe 8k on that so yeah I don't have a whole lot of options, my eclipse has around 8k in mods and is basically a 4.5k lb paperweight even when its running it too unreliable. dealerships offered me 1k for it Hopefully when the kbb value comes out on these cars I can get more for it, i'm looking at other cars for around the same price used vette, used sti, used evo, or used trans am. So i guess i'm stuck for a while.

MSP · Jul 31, 2005

robert_gstv6 said:
I was curious about the re-sale value of these cars ( I got the v6) I had planned on trading it back in, i have had the car for two months paid 27k (financed) and 2 dealerships i wanted to trade it in to offered me 15k for trade mitsubishi offered me 12,500 they told me thats all the car was worth, its spotless (except for the fact that someone keeps egging it) and only has 1400 miles on it wtf? Is this only because the kbb hasn't been made for the 05 models yet? Or is that really what the re-sale on these cars is?!? I just lost 12k in depreciation in 2 months WTF!?!?

I took mine back 3 months later and was offered 2K under list in trade for a GT, which they did not have at the time.. So its a dealers call.. If the dealer is moving boatloads of V6's, then he will gladley accept the trade.. I am not the only person who had this experience.. There is a guy name Black05GT who traded in his V6 05 and was made the same deal on trade for a GT.. My advice is to go back to the dealer you bought the car from..

Actually, there are 2 or 3 people besides me at this website who were offered 2K under the MSRP we bought the cars from with 1500Miles on the car... So dont worry, you can find some way or a dealer to work this out.. Chances are, it needs to be the same dealer though..

Also, they were willing to accept the deal, and order me an 06GT, but I could not get my wife onboard, because you know how wifes are.. So I just kept the V6..

While being a member of this website, and owning a V6, it is common to have buyers remorse when you see threads about HP and RWHP from guys that own GT's.. You will outgrow this in time.. Enjoy your 6 for awhile..

robert_gstv6 · Jul 31, 2005

didnt these cars win motortrends award for lowest depreciation? Sure I heard that somewhere. Maybe you're right it has to be a ford dealer because they would be the only ones that would know how quick the car would sell, the dealerships I talked to were 2 used car dealerships and mitsu was the other one. I'll give ford a call, thanx.

MSP · Jul 31, 2005

robert_gstv6 said:
didnt these cars win motortrends award for lowest depreciation? Sure I heard that somewhere. Maybe you're right it has to be a ford dealer because they would be the only ones that would know how quick the car would sell, the dealerships I talked to were 2 used car dealerships and mitsu was the other one. I'll give ford a call, thanx.

Dont worry! How many miles you still have on the car? I believe up to 2K, you can still get the 2K off MSRP deal in trade for a GT..

Of course no other dealership would do this but a Ford dealership.. Dont buy into it.. Plus, you already have a nice ride man.. Your all set.. But if you do want a GT, then now is the time to order it and wait.. This way you lock your car in at 2K under, and can still drive the car up to a certain point until the GT arrives.. So dont waste time if this is what you want to do..

jfischer · Jul 31, 2005

robert_gstv6 said:
Hopefully when the kbb value comes out on these cars I can get more for it

Dealers don't use the KBB anyway, so it's a moot point. The car is worth what someone is willing to pay for it (dealer or private party). KBB means jack in the real world, all it can do is give you a guideline as to what the car is worth but it's not written in stone, and is generally high anyway.

If you want to get out from under it, you'll have to sell it yourself to recoup any kind of decent money on it.

Driving a new car off the lot drops its value by around 20%, give or take. The good thing is that you've got a car that's in relatively high demand (even though it's a V6).

How did you end up paying $27K for a V6, unless it's a convertible? I thought most V6's ran about $21K, which makes $15-18K for a trade-in about right. You'll never recoup the sales tax, etc either when you go to trade it or sell it.

Bottom line, getting rid of a brand-new car is going to be very expensive. I did it myself a few years ago, traded in a 3-week old RSX on a Z28 Camaro (and ate about $4,000 in the process). It was worth it though

MSP · Jul 31, 2005

Also, its best to get ahold of the saleman that sold you the car.. Tell him you want a GT.. This will get him onboard for another commision, and make him be aggressive about your rights.. He will pull strings in the "Make Deals" office.. So contact him first.. Dont just call any Ford dealership blindly and get screwed.. Use your old salesman, for which you need to send in a Courtesy card stating how you felt you were treated on the V6 deal.. Did Ford mail this card to you yet? If not, thats your leverage on the salesman..

He knows you still have alittle power over him, if you have not done this yet.. To him, it means fast promotion.. To you it means swapping a 6 for a GT.. Think this through carefully.. Dont use emotions... Also, dont do this

Rootus · Jul 31, 2005

Around here at least, a V6 has no real value -- the dealers are crawling with them. How did you pay $27K for a V6 in the first place? That's GT pricing.

Sounds like you just learned an unfortunate lesson in brand new car purchasing. Never pay markup, and don't buy anything you're not really comfortable with keeping for the next few years.

Jeff_D_2385 · Jul 31, 2005

I just don't understand why someone would buy a new car just to trade it in in a few months to a year anyway? You know your just going to be losing money

alfman9 · Jul 31, 2005

WTF!!! $27,000 for a SIX BANGER? WTF!!!

Sorry, but YES, YOU definitely bent over for them. NADA is the source for used car values, not KBB and as stated above, it is just a guide. Should have gone with what you really wanted in the first place, I too made the same mistake a few years back.

02 V6, not good enough
03 GT, not good enough
04 Mach 1(what a shame), closer
04 Cobra, that is more like it

And for the person whom says you will loose money trading or selling cars in a year or less, you sir are sadly mistaken. I only lost money on the V6 because there are thousands in rental fleets.

jfischer · Jul 31, 2005

alfman9 said:
NADA is the source for used car values, not KBB and as stated above, it is just a guide.

So is NADA (only a guide). Dealers usually call around and see what your car is going for at auction and start there. KBB, NADA, etc are merely guides and you are not guaranteed in any way, shape or form of getting the prices listed therein.

Unless that V6 is a convertible, somebody got goobly greased real good at $27K. Or perhaps he rolled lots of negative equity from a previous loan into this car. Either way, my advice would be to just be happy with the V6 for a while, it will be excruciatingly painful to get out of it now.

The other problem is that if he holds onto it for a few years, the Mustang will become like every other car - sold with incentives. Which further drives down the value of used models.

Unless he's got a ton of money to throw at the GT, he's much, much better off just sticking with the V6 he's already got.

Of course, that's just my opinion, I could be wrong...

jfischer · Jul 31, 2005

alfman9 said:
And for the person whom says you will loose money trading or selling cars in a year or less, you sir are sadly mistaken.

NEW cars, you will lose your ass selling it in the first two years, that's a given. If you got a smoking deal on a used but newer car, all bets are off. New cars depreciate like a rock the minute you drive them off the lot - there's no arguing that point at all.

There's no way you can buy a brand-new car and get out of it for anywhere near what you paid for it (not counting down payments, etc). Unless you're in an area chock full of morons who would pay anywhere near full price for a used car

MSP · Jul 31, 2005

jfischer said:
So is NADA (only a guide). Dealers usually call around and see what your car is going for at auction and start there. KBB, NADA, etc are merely guides and you are not guaranteed in any way, shape or form of getting the prices listed therein.

Unless that V6 is a convertible, somebody got goobly greased real good at $27K. Or perhaps he rolled lots of negative equity from a previous loan into this car. Either way, my advice would be to just be happy with the V6 for a while, it will be excruciatingly painful to get out of it now.

The other problem is that if he holds onto it for a few years, the Mustang will become like every other car - sold with incentives. Which further drives down the value of used models.

Unless he's got a ton of money to throw at the GT, he's much, much better off just sticking with the V6 he's already got.

Of course, that's just my opinion, I could be wrong...

Best post so far.. LOL!! "goobly greased"!! Thats a good one.. But this statement is most true...."Or perhaps he rolled lots of negative equity from a previous loan"..

But yes, expect to lose lots after you leave the dealership.. Which goes along way to say the car was still worth $2K off MSRP for my car with 1500 miles and 3 months of ownership..

What this boils down to is the market you bought the car in.. If the market is such that the dealership knows they can still make good money for it, then they will wheel and deal on a trade for a GT.. But if they sell only 5 or 6 V6's a month, then chances are they dont want it.. If you make them take it, they will cushion the fall for themselves and not you..

merlinsteele · Jul 31, 2005

Can you offer it for sale to an individual instead of going thru a dealer? Then you should get more out of it and I know there are people out there who would give a fair price for one. I myself wouldn't mind buying a used GT or V6 at a fair price, allowing for modest depreciation. As everyone else is saying, there's a huge market for these cars right now. I wouldn't take too big of a cut on it! Just curious...Can a person offer their car for sale on this board?....

robert_gstv6 · Jul 31, 2005

when I told the guy at ford my situation he said "your payoff is 27k? wow you need to come up with about 5k down to get out of that car, no one would pay that for a used v6 thats almost gt pricing" since my payments are $490 a month hopefully I can get about 4k off, hmm maybe i can disconnect the speed sensor and stay at 1400 miles for a year, then trade it in. Come to think of it I also bought the gap insurance on it I hope no one steals it!!

MSP · Jul 31, 2005

merlinsteele said:
Can you offer it for sale to an individual instead of going thru a dealer? Then you should get more out of it and I know there are people out there who would give a fair price for one. I myself wouldn't mind buying a used GT or V6 at a fair price, allowing for modest depreciation. As everyone else is saying, there's a huge market for these cars right now. I wouldn't take too big of a cut on it! Just curious...Can a person offer their car for sale on this board?....

Jesus Christ Merlin!! I would give a pinky finger to find a used 05 GT!! Please tell me where it is.. I dont care what color it is, or whether its stick or automatic, just show me where it is!! LOL!! Wouldnt we all love that.. I bet an 05 GT right now will still sell for no less than $25K with 3K miles on it.. Maybe even 4K miles..

Its all about where you live basically..

merlinsteele · Jul 31, 2005

MSP said:
Jesus Christ Merlin!! I would give a pinky finger to find a used 05 GT!! Please tell me where it is.. I dont care what color it is, or whether its stick or automatic, just show me where it is!! LOL!! Wouldnt we all love that.. I bet an 05 GT right now will still sell for no less than $25K with 3K miles on it.. Maybe even 4K miles..

Its all about where you live basically..

If I can find a used one at a reasonable price, I'll tell you, after I buy it!! But you're right. I'm just dreamin....

jfischer · Jul 31, 2005

MSP said:
I bet an 05 GT right now will still sell for no less than $25K with 3K miles on it.. Maybe even 4K miles..

Right now a GT will hold its value very well, and is an exception to the rule.

Back in '99 when the redesign came out, I had to trade a 6 month old '99 GT and got nearly what I paid for it because they were still in short supply, like the current GT is.

The GT is an anomaly right now, it's in very short supply. Supply and demand is what it's all about. In general though, most cars will depreciate substantially the minute you drive it home - because there are plenty of alternatives.

I think we all got raped : (`

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