I think we all got raped : (`

jfischer · 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.

But V6s aren't that hard to come by. If I can buy a new, nicely loaded V6 for $22K, why would I pay anywhere near that for a used one? $18-19K maybe private party, and that's if it's immaculate. No matter what, this guy's good and screwed owing $27K on a car that's worth about $19K tops.

I think he'll just have to get used to the V6, getting out of it now in his current financial condition would be extremely painful.

martimus · Jul 31, 2005

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

Got some bad news for ya... in the Western US KBB IS typically the source used by most auto dealerships for used car values.

MSP · Jul 31, 2005

martimus said:
Got some bad news for ya... in the Western US KBB IS typically the source used by most auto dealerships for used car values.

Got some good news for ya! The 2005 Mustangs are not in them yet.. So better find a ford dealer before the end of the year!!!

Atleast as of 2 months ago, they were not in there..

Nope, still not there yet!! Run!! Get there before the stroke of midnight 2006!!

You still have time!!

http://www.cars.com/go/kbb/kbbInput.jsp

MSP · Jul 31, 2005

Trust me! Go to any authorized Mustang Ford dealership, and tell them you want to trade in your 6 and order a 06 GT, and they will gladley give you 2K less for you V6, and order the GT..

Advice still stands. Get ahold of the salesman who sold you the car, and tell him you would like to order an 06 GT.. Right now, they would give you a good deal, because they know they can still move your car.. To de-value the V6, would leave them with too much to explain as to the reason, so they will give you better than Kelley will before 2006 hits.. Once 2006 hits, all bets are off.. Even a used GT will show $14k in Kelley with low miles and perfect condition with all options..

martimus · Jul 31, 2005

MSP said:
Got some good news for ya! The 2005 Mustangs are not in them yet.. So better find a ford dealer before the end of the year!!!

No matter to me... I'm not trading in mine any time soon. I can't think of a better car to have than this!!

MSP · Jul 31, 2005

martimus said:
No matter to me... I'm not trading in mine any time soon. I can't think of a better car to have than this!!

Me either!! But the disease does strike sometime after your 20th post, that you want a GT.. LOL!! It happens alot around here.. Its all the talk about HP and TQ, combined with EGO's and manhood.. He will learn to love his V6, like the rest of us.. It just takes time..

ABH · 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..

There is a Bergey Chevy used car lot a few miles from where I live. (NW of Phila). They have an 05 GT hardtop. IIRC, it has about 1500 miles on it. They want almost 35K.

And, none of the dealers around me have GTs. And aboit half of those are verts.

jfischer · Jul 31, 2005

martimus said:
Got some bad news for ya... in the Western US KBB IS typically the source used by most auto dealerships for used car values.

I live in the Western US, and I've bought a lot of new cars in the last 10 years. Not once has any dealer used KBB or NADA to value my trade-in. They always go off of what they're going for at auction, and then haggle from there.

Perhaps on older cars KBB or NADA are more valuable, but I'm talking about cars that are at most 2 years old. In these cases at least, auction pricing is the rule of the day.

05MGT · Jul 31, 2005

All I know is for $27,000 I could have walked away with a nice GT...

jfischer · Jul 31, 2005

MSP said:
Got some good news for ya! The 2005 Mustangs are not in them yet.. So better find a ford dealer before the end of the year!!!

Dealers simply don't use KBB for valuing your trade-in anyway - especially on a new car like this. It doesn't matter one iota if the 2005's are in KBB or not - it won't affect his trade value in the least.

The car's worth what it's worth to the dealer - regardless of what KBB or NADA say it's worth. They'll only offer him an amount in trade which they feel they can then make a few grand reselling it quickly.

jfischer · Jul 31, 2005

MSP said:
Trust me! Go to any authorized Mustang Ford dealership, and tell them you want to trade in your 6 and order a 06 GT, and they will gladley give you 2K less for you V6, and order the GT..

Maybe if he's lucky 2K less than the original MSRP. Problem is - he owes $27K on a V6 Mustang! Probably stickered at $22K or so, which means he'll be extremely lucky to get offered $20K in trade - and I do mean extremely lucky.

Even at $20K trade, he's gonna take a $7K hit on the trade-in, which means he'll be paying $36,000 for a $29,000 GT. Is it worth it? Besides, unless he's got a tremendous down payment saved up, financing that much negative equity will be difficult, and if he can get it done it'll cost him in interest.

It just doesn't sound like a very good idea to dump the V6 for the GT at this point, but to each his own...

alfman9 · Jul 31, 2005

jfischer said:
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

You are very funny. I have bought all my cars brand new. Just because you cant do something does not mean it is impossible.
02 v6 - paid $18k - sold $14k - kept a year 13k miles
03 GT - paid $19k - sold $20k - kept 1.5yr 22k miles
04 Mach - paid $21k - sold $24.5 - kept 3 months 700 miles
04 v6 - FREE - sold $15k - kept 4 months 1.3k miles
and I do not have any affiliation with Ford, but I did win the 04 v6 from a dealer.

My point is do not be afraid of Salesmen, go straight to the sales manager and dont BS. You can get a heck of a deal, they make money by moving cars, they are not collectibles to a dealer.

stanmckinney · Jul 31, 2005

I still don't understand how in the world someone ended up paying $27,000 for a V6. Mine stickered for a little less than $23,000 and has everything except leather. I got it for x-plan, just a little over $20,000.
Dealers use auction results for fairly new cars, not book values. I only got $21,000 for a 2003 Mach 1 with 1,800 miles on it a couple of years ago. Then again, I only paid a little over $23,000 for it new.
I was asked $21,000 a month ago for a 2003 Mach 1 and was told it cost $34,000 new. Papers in the car showed the guy paid about $4,000 over sticker. (Sticker was $29,000) The one I had stickered for $29,000 but I got it new for less than $24,000 with taxes because it was on the lot for more than a year. Pricing of cars is a tricky thing but again, HOW IN THE WORLD DID SOMEONE GET $27,000 IN A V6?????

alfman9 · Jul 31, 2005

Pay Cash. Rolling debt is never a good idea.

jfischer · Jul 31, 2005

alfman9 said:
03 GT - paid $19k - sold $20k - kept 1.5yr 22k miles
04 Mach - paid $21k - sold $24.5 - kept 3 months 700 miles

All I can say is that you must live in an area chock full of morons

Nobody in their right mind pays more for a used car than a new one, unless it's extremely collectable.

Eos · Jul 31, 2005

The problem is you paid 27k for the v6. Are you an idiot?

jfischer · Jul 31, 2005

stanmckinney said:
Pricing of cars is a tricky thing but again, HOW IN THE WORLD DID SOMEONE GET $27,000 IN A V6?????

The only way I can think of is by rolling over negative equity from a previous loan. Which, unfortunately, is the quickest and easiest way to screw yourself over down the road.

Or maybe it was one of the most expensive V6's around (aren't they at about $23K and change MSRP fully loaded?) Add in a very overpriced extended warranty ($2K), prepaid maintenance, credit life insurance, gap insurance, undercoating, paint protection, fancy wheels, taxes, D&H, etc. I guess you could get close to $27K that way.

I did find out that gap insurance is often offered by your automobile policy carrier. I got it through mine for $27/year, and only kept it for 3 years on my Camaro. Gap insurance, like everything else in the finance office, is yet another profit center...

I do feel sorry for the original poster though, he's not in a very good position to be looking to get out of it for the next 3-4 years...

streetstang03 · Jul 31, 2005

27K for a V6

you got

you could have bought a used 03 cobra for that much

Jenns01TA · Jul 31, 2005

I will reserve comment.

Jennifer

bronco78 · Jul 31, 2005

stanmckinney said:
I still don't understand how in the world someone ended up paying $27,000 for a V6. Mine stickered for a little less than $23,000 and has everything except leather. I got it for x-plan, just a little over $20,000.
Dealers use auction results for fairly new cars, not book values. I only got $21,000 for a 2003 Mach 1 with 1,800 miles on it a couple of years ago. Then again, I only paid a little over $23,000 for it new.
I was asked $21,000 a month ago for a 2003 Mach 1 and was told it cost $34,000 new. Papers in the car showed the guy paid about $4,000 over sticker. (Sticker was $29,000) The one I had stickered for $29,000 but I got it new for less than $24,000 with taxes because it was on the lot for more than a year. Pricing of cars is a tricky thing but again, HOW IN THE WORLD DID SOMEONE GET $27,000 IN A V6?????

To each his own.

I wanted an ’05,, but made the final decision late in the MY.. Pickens were slim last month,, .. IN fact,, VERY slim.. Nothing but black on black, or V6’s to be found,,,,

I WANTED my mustang,, for a lot of personal reasons.. It is more then transportation to me.... I walked on a lot, while deployed,,, and found an incoming GT, in Windville Blue. Fully optioned out.. Every thing I wanted. This was the perfect car,, to bring me home..
Mustang..
Some of the looks of My first car (1968 Fastback), many years ago...
In the same color as My moms first Mustang (1966 Coupe), the First car I ever drove..
The production date of this GT was my wife’s birthday...

Bottom line,, I wanted this car,, and yes, I paid more then most have for a GT....... AND I DO NOT CARE... I’m ok with it.. I have the ability,, I have the desire.. I found THE car. So I paid for it.. No regrets.. then, now or ever.

An object is worth what ever the buyer is willing to pay...... I found my GT on Thursday,, on a dock... Picked it up 48 hours later at the dealer and drove it home. And yes,, paid top dollar for it.... Could not be happier

I think we all got raped : (`

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