true market value - Ford Mustang Forum
 
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post #1 of 7 (permalink) Old 07-29-2012 Thread Starter
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true market value

Hello there,

A newbie here, been in the market for a coup and took a test ride of a "manual" 2013 Mustang GT premium today. I was taken aback by the amount of horsepower under the hood and the noise it makes

Anyways to make a long story short, negotiated with the salesman and he agreed to sell somewhat close to the true market value from edmunds. Unfortunately we couldn't go ahead with it coz they were offering me much less for the trade in.

However, that got me thinking about what other people in similar situations are paying for these GTs? Is dipping around/below the TMV common for these GTs or did I miss out on a good deal?
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post #2 of 7 (permalink) Old 07-29-2012
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LOL, I have no idea what you are referring to as true market value... all that matters is finding out what the dealer paid for the car and making a fair offer from there. And yes, that's a common ploy, making a really sweet deal on the new car so they can rape you on the trade in.

The way I approach it is to make the deal on the trade first... if they can hit that where you want it, the deal on the new car is relatively easy. And don't let them distract you by talking payments! Keep the trade in and the new car completely separate transactions and you'll never end up baffled by car dealer smoke and mirror tactics.

If you've done your homework you'll know what your trade is worth, what dealer paid for the new car, and what finance rate you can get, so you'll already know what the payments are going to be.

Good luck!

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post #3 of 7 (permalink) Old 07-29-2012
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Given that Edmunds gets support (read: funding) from car companies I would imagine that their "TMV" is in the best interest of the dealers. I would go more with something like Truecar, which actually reports real transactions in your area/region.

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post #4 of 7 (permalink) Old 07-29-2012 Thread Starter
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Good to know.

@Scott: How to find out what dealer paid for the car? Will this help? 2013 Ford Mustang Coupe GT Premium Price With Options

@csamsh: Will def. check out true car

Thanks
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post #5 of 7 (permalink) Old 07-29-2012
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most of the good deals involve getting the car at invoice or less AND you keeping all rebates, look at kelly, edmunds nada, etc to find out the invoice price. Look at these same sights to get the wholesale price of your trade in. Agree to the price then, "i'll give you a deposit today if you add in an extra key, mats, or what you want. Remember NO dealer advertising, No front plate mount, Full tank of gas. Get everything they promise in writing.

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post #6 of 7 (permalink) Old 07-30-2012
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I did a lot of e-shopping when I wanted mine and had 3 or 4 dealers competing for my money.

I knew edmunds true market value and paid more or less exactly that.

The dealership sold me the car itself at invoice but all the upgrades and options at MSRP. None of the dealers would budge on the pricing of the options. It didn't bother me too much since I trust edmund's TMV pricing and the dealer I bought mine from has a liftime powertrain warranty to the original buyer.

I feel like I got a fair deal but they had a 2011 GT with all the options I wanted (besides the car and interior being black) with only 700 miles on it and was marked down $7000. I was tempted but had to have red/saddle.

My point I guess is that there are some VERY good deals on lightly used GT's if you look around. If you're willing to sacrifice one or two optional features that you otherwise either wouldn't want or would want different, you can save a boat load of money.

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post #7 of 7 (permalink) Old 07-30-2012
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Quote:
Originally Posted by Strange Mud View Post
most of the good deals involve getting the car at invoice or less AND you keeping all rebates, look at kelly, edmunds nada, etc to find out the invoice price. Look at these same sights to get the wholesale price of your trade in. Agree to the price then, "i'll give you a deposit today if you add in an extra key, mats, or what you want. Remember NO dealer advertising, No front plate mount, Full tank of gas. Get everything they promise in writing.

So i have a question for you. I have went to a couple dealers and asked about ordering a 13 GT. They all seem to say they want some sort of deposit on an order. How do I go about getting them to add tint, mats, and extra key? Seems like the deposit is no incentive for them to throw the extras in?

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