Looking To Buy A Gt, Any Advice For A First Time Buyer?

[Mycelus]

Hey all. I'm currently located in upstate NY, but will be moving to Austix, TX later this year.

I am going to be purchasing a GT, specifically 2001-2004 most likely. I have compiled a list of some with different colors, model years, etc. to see what I am looking at.

Now do note, I will not be purchasing until around sometime in April, but for now I am in the researching stages while I save up and prepare to buy the car. My goal is to spend no more than $4,000 on the car.

I only plan on keeping the car for 2 years max, preferably less. I will only be doing some basic mods (suspension, intake, exhaust), some cosmetic stuff like smoked headlights, nothing TOO costly.

What I would like to know is all your advice. What to look out for, any major dealbreakers, etc. What to expect in terms of maintenance, value degradation, power, etc. Anything and everything.

Here is the spreadsheet I've compiled for your viewing pleasure, but you don't have to go through it if you don't want to of course: https://docs.google.com/spreadsheets..._dE/edit#gid=0

Let me know your thoughts. I would ideally love to get an Atlantic or Sonic Blue, but I think my budget is realistically too low. Note I purposely left out certain colors, as I do not find the white/gray/green an attractive color option.

Cheers!

 

[IIGood]

Good luck! Hope you'll be able to get something you truly want. Looks like you've got quite a bit of research done on this already...quite the sheet there.

$4000 may be a *little* low but I don't think it's unrealistic. You may have better luck finding one around that price point from a private seller that hasn't done a whole lot to the car than from a dealership or another enthusiast that may have done a few modifications. Unfortunately according to the various "books" the value of these can be on the lower side, yet they still sell for a bit higher than the books.

To note...the 2001-2004s already have the factory smoked headlights, so that may save you one mod there. Unless you're looking to go with the amber-less style headlights.

As far as what to watch out for...I really can't say. I've had my 2003 GT since new and parts I've replaced in the last 5 years have been the intake manifold which cracked, the clutch (which was just normal wear...I got 160K miles out of it), the water pump, the radiator, the alternator, and 2 COPs. The car was my DD for 11 years and now has 175K on it. Still runs like new. I just keep up on the maintenance.

That's really the key to it, maintenance. I still see plenty of New Edges on the road and they all seem to be in good shape...particularly the GTs. If you can find one where the owner has kept records, all the better.

Oh, and my vote is for Sonic Blue. But I might be biased.

 

[mogs01gt]

check core support for accidents and rust
If the doors do not close fully, its be wrecked or the unibody has twisted
check for leaking fluid around the entire intake, including the back
Rust is common behind doors and inside the rear quarter-panels
alt, intake manifold and water pump are all easy to replace
check for crack exhaust manifolds, those are a bitch to replace!

Most parts on these cars are cheap and easy to fix except for tranny, heads/engine and exhaust.

2 years doesnt make much sense because there isnt a big market for these. Not sure you'd make any money on a flip.

 

[Mycelus]

Good luck! Hope you'll be able to get something you truly want. Looks like you've got quite a bit of research done on this already...quite the sheet there.

$4000 may be a *little* low but I don't think it's unrealistic. You may have better luck finding one around that price point from a private seller that hasn't done a whole lot to the car than from a dealership or another enthusiast that may have done a few modifications. Unfortunately according to the various "books" the value of these can be on the lower side, yet they still sell for a bit higher than the books.

To note...the 2001-2004s already have the factory smoked headlights, so that may save you one mod there. Unless you're looking to go with the amber-less style headlights.

As far as what to watch out for...I really can't say. I've had my 2003 GT since new and parts I've replaced in the last 5 years have been the intake manifold which cracked, the clutch (which was just normal wear...I got 160K miles out of it), the water pump, the radiator, the alternator, and 2 COPs. The car was my DD for 11 years and now has 175K on it. Still runs like new. I just keep up on the maintenance.

That's really the key to it, maintenance. I still see plenty of New Edges on the road and they all seem to be in good shape...particularly the GTs. If you can find one where the owner has kept records, all the better.

Oh, and my vote is for Sonic Blue. But I might be biased.

Do you think 4K is low based on my list? I'm only asking because so many people make it sound like you have to spend 8-9K to find the perfect car when realistically I'm just looking for a decent, high mileage car to enjoy for a few years while I save for the car I actually want. I don't wanna own an early 2000 car into the 2020's. I'm just getting what I can afford for now.

I definitely plan on keeping up on the maintenance, that's what I'm gonna look out for. Are dealers more reliable than private sellers you think? I found one in Long Island for $3,800, right here: https://www.carsforsale.com/vehicle/details/27383235

Thoughts?

check core support for accidents and rust
If the doors do not close fully, its be wrecked or the unibody has twisted
check for leaking fluid around the entire intake, including the back
Rust is common behind doors and inside the rear quarter-panels
alt, intake manifold and water pump are all easy to replace
check for crack exhaust manifolds, those are a **** to replace!

Most parts on these cars are cheap and easy to fix except for tranny, heads/engine and exhaust.

2 years doesnt make much sense because there isnt a big market for these. Not sure you'd make any money on a flip.

I can't imagine I would have difficulty selling it in 2 years, am I misunderstanding? I wouldn't be selling it for profit, that's not the intention any how. I can't imagine a 4K car would depreciate much after just 2 more years. I'm gonna lose money on it most likely obviously, but that's to be expected.

 

[IIGood]

Do you think 4K is low based on my list? I'm only asking because so many people make it sound like you have to spend 8-9K to find the perfect car when realistically I'm just looking for a decent, high mileage car to enjoy for a few years while I save for the car I actually want. I don't wanna own an early 2000 car into the 2020's. I'm just getting what I can afford for now.

I think maybe a *little* low, but nothing drastic. I'm not saying $4K can't be done but maybe the majority of good choices out there might be at $5K and up.

I definitely plan on keeping up on the maintenance, that's what I'm gonna look out for. Are dealers more reliable than private sellers you think? I found one in Long Island for $3,800, right here: https://www.carsforsale.com/vehicle/details/27383235

Thoughts?

That one looks pretty good! I'd go check that out...if it's solid and runs well, you may have a deal there.

 

[Mustang5L5]

I can't imagine I would have difficulty selling it in 2 years, am I misunderstanding? I wouldn't be selling it for profit, that's not the intention any how. I can't imagine a 4K car would depreciate much after just 2 more years. I'm gonna lose money on it most likely obviously, but that's to be expected.

I think you are right here. You should be able to sell the car fairly easily, at probably what you paid.

Keep your stock parts though, might be worth it to demod the car right before you sell it, and then sell the mods separately. You'll probably make more in the long-run.

Good luck in your search. I miss my 2003GT 5-spd I owned when new, and if I ever stumbled across that car, I'd make an effort to buy it back.


Keep in mind for 2004, Ford tried to reduce the cost of the GT and actually took away some standard features to sell it at the same price as a 2003 model. For example, a 2003 GT premium has ABS traction control standard, while for 2004, it was an option that many cars did not get. Won't translate to much of a cost difference 10+ years later, but for that reason I'd try and find a 2003 model as, the t-3650 was improved in 2003-2004 over the 01-02 version which had a clunky 1-2 shift.

 

[squeak93]

My 04 (in 2005) had the clunky shift and got a new trans under warranty. The new trans then whined. It shifted nice so I dealt with it. It's just a 3650 issue.

 

[Dan's03GT]

Hi, I have owned 2 new edges and 3 sn95s as a whole. I can tell you from experience that you need to look out for rust(All over obviously) in sneaky places too like the brake line elbows and behind the doors. The abs sensors on these things are terrible and can become dirty, causing an abs warning light, be sure that that's ok because if they're clean it could be the abs module and then I would tell you DO NOT BUY. Lastly, if you are thinking of getting a new edge, make sure you know when the car was built, after mid 2001 these cars were changed quite a bit in both styling and performance parts. You want to make sure that the car you get doesn't have a cracked upper intake, it's common on these and is only addressed in 2002-04 models by adding an aluminum crossmember.

Overall, I'd say that if you can find one for the max $4k that you're looking for, pull the trigger. They are amazing cars that will put a smile on your face when you put your foot down.

 

[BlackGoose699]

Just keep your eyes open and hit CL and other places. You can find a nice car around 4K just might not be close to home. I bought my x wifes 02 GT stock for 3200, the best time to buy is winter and tax season when people want to sell quick to pick up a new toy they been looking at. It don't matter if you buy from a dealer or private pull a car fax. Look over the car good, listen to it, let it run for 10 to 20 minutes and look for leaks and watch temp, oil pressed.