GT Mustang market update........... - Ford Mustang Forum
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post #1 of 24 (permalink) Old 09-10-2006 Thread Starter
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Question GT Mustang market update...........

Dont shoot me please. I am just posting this info out of concern for our beloved Mustangs and our INVESTMENTS.

OK, so I have a beautiful 05 Windveil Blue GT Mustang. Bought it new in April 05. Paid about sticker back then, $28,000ish. Now its got 12,500 miles. I have been looking at the markets on these cars as I may sell mine and do something different. Not unhappy, just change cars versus wives that all. Its still cheaper to do that.

So, anyway, I have a good friend here that has been in the car business for almost 30 years. He has Manheim Market Report on his computer at his lot. I noticed about 4 months ago that the GT's were bringing about $22/23,000 average at the auctions. I even took my car to Carmax back in May and they offered $23,300 with 10,000 miles to buy it outright. Not bad I guess...........

But jump forward to August/September 06 and I have seen a sudden and dramatic drop in values. I visited the Ford dealer I bought my car from last year about two weeks ago. I told them I was thinking of selling my car and if they wanted to buy it would they make me an offer. The used car manager got out his Blackbook, ponders his thoughts, then says he would buy it in the $16,000's. $16,000's........................... Made me shudder for a moment. I thanked him and walked out quickly. Actually I cussed him under my breath and wanted to smack the crap out of him...........

Last week I attended a Manheim Auto Auction for dealers. I saw a brand new 06 Tungsten Gray GT, 5 speed, Premium with fan blades, 1,267 miles. The bidding started at $25,000 then dropped to $24k, then $23k, then $22k, then $21,500k. Not one bid from dealers......... Not one. I would guess that a retail buyer would fall all over hinmself to buy an 06 GT like this for $21,500! I would.

Recently there was a local ad in our newspaper from an individual with an 05 GT Mustang, white, black stripes, 5 speed, and only 8,000 miles. His asking price, $21,500. I had mine advertised at the same time and was asking $24,500. Over a two week period not one call................ It was even listed on Autotrader.com, Cars.com, and our local newspaper in print.

Whats happening to our GT's??? They have plummeted in value if you ask me. Maybe in 25 years our 05's will be worth $40,000.

Jeff

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post #2 of 24 (permalink) Old 09-10-2006
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www.edmunds.com - your car in Zip Code 28210 is about $21,000 suggested trade in. I think a lot of people are looking at the economy, Mustangs new at 0% interest.
You know how much you can get for your car when the buyer hands you a certiified check. Buying a car for "Investment" is different than buying a car and driving it and than thinking if I keep the mileage low I will be able to sell it for a lot of money. This is a rare situation..

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post #3 of 24 (permalink) Old 09-10-2006
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Young Ford in Charlotte selling a 2005 Coupe with 11,300 miles - $28,500 - Auto Trader.
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post #4 of 24 (permalink) Old 09-10-2006
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Quote:
Originally Posted by VintageV8
Young Ford in Charlotte selling a 2005 Coupe with 11,300 miles - $28,500 - Auto Trader.
*****, that's insane. When I tried to trade in my car and get a GT @ 0%, they wanted to give me $20k for my car. Bullsh!t if you ask me. I see used GT's on their lot selling for $28k+ and it's rediculous. I'm just going to pay mine off, mod it, and keep it for as long as I can. I'll probably buy my next car in like in 15 years.

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post #5 of 24 (permalink) Old 09-10-2006 Thread Starter
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Vintage, I didnt buy my car as an investment I bought it for fun and I like it. I drive it as a daily driver, Although I dont drive very much. I fly for a living and it sits about three or four days a week.

I am just surprised at the quick drop in "retail" value, not "trade-in" value. Look at them on ebay. That will give you a pretty good idea of what people are getting for them. You can even check out CarMax. Their prices are firm, no negotiations. Sure you'll get the lowball bids. But at the end of the day our beloved 05 GT's have dropped about 4 to 6 thousand dollars average in one year. And to think they marketed them up new thousands of dollars with adendum stickers................

Sure car dealers can ask whatever they want, ie $28,500 at Young Ford. Dale Jarrett Ford has one with about 20,000 some miles and they are asking in the same range. They have to build in a trade difference. But I watch them at dealer auctions and they dont bring many offers. Some dont even bid on them at what I think are very low prices. However what I got offered from Fort Mill Ford, where I bought mine new, was an absolute insult. $16,000ish! Not to trade mind you. That was an outright sell to them price.

Not what I really expected out of this classic design............

Jeff
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post #6 of 24 (permalink) Old 09-10-2006
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Buying new cars as investments is never a good idea. Heck, even homes right now is a bad idea in certain areas. Just enjoy the car and dont worry about how much its worth....they are going to depreciate .. just a fact..
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post #7 of 24 (permalink) Old 09-10-2006
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The model is going on 3 years old now -- the fact that the cars have retained their values this long is amazing!

Supply is starting to catch up with demand (guys who really wanted GT's have got them), gas prices are measurably higher than when the car was released (and are likely to stay high), competition is creeping into the market (Camaro and Challenger loom on the horizon), and even some "Ford diehards" are going to start to wait for the restyled Mustang to hit the streets in '09 (unfortunately a less retro version from what I hear).

Add to it the fact that MOST people think their cars are worth WAY more than they really are leaves a person sitting exactly where you are today.....
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post #8 of 24 (permalink) Old 09-10-2006
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look at it this way...the 2005+ gt is still new. so if youre a buyer looking at this new style mustang, wouldnt you want it new? i wouldnt buy a used mustang for 25 grand when i can get an spankin new one from the dealer for 28...so sellers are forced to sell ridiculously low...on the flip side...the 99+ gts are still sellin for over 20 grand if its mint in alot of cases...so give it a few years...our s197 will be sellin for mid 20s when the next gen starts...and probably start to climb from there
post #9 of 24 (permalink) Old 09-10-2006
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^^^^^

While I believe "nghtrnnr" might be a tad optimistic with his time-frame estimate, I do agree that this model of Mustang will likely be one that the years will be kind to.

The simplistic beauty of the classic retro-design, the perfect combination of handling and performance, and the historical significance of the "Mustang" nameplate will make these vehicles as attractive 10-15 years from now as they are today.

Especially for guys who have bought them as a long-term "lifestyle" investment and keep them maintained and in tip-top condition over the years!

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Quote:
Originally Posted by nghtrnnr
look at it this way...the 2005+ gt is still new. so if youre a buyer looking at this new style mustang, wouldnt you want it new? i wouldnt buy a used mustang for 25 grand when i can get an spankin new one from the dealer for 28...so sellers are forced to sell ridiculously low...on the flip side...the 99+ gts are still sellin for over 20 grand if its mint in alot of cases...so give it a few years...our s197 will be sellin for mid 20s when the next gen starts...and probably start to climb from there
I can't wait for the next different gen. to come out. Face it the s197 is the best looking Mustang since 1970 and like you say this gen will hold it's value in the future no problem.........

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like i have said before. mustangs have never been very good at holding thier value. i believe one reason is because there are so many of them. i love my car, but did NOT buy it as an investment. cars are not good investments anyway. no one can predict what models will be future collectibles. sports / muscle cars like mustangs camaros, and firebirds are traditionally seen as a "lose your a$$ on" type of a purchase. those vehicles just dont hold value very good. and the fact that you can get a new 07 for 0% at sticker and maybe even below now aint helping... bottom line, youll never get more than what you paid for it. period. but rest assured, you still have one helluva car...

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Quote:
Originally Posted by ddellwo
The model is going on 3 years old now -- the fact that the cars have retained their values this long is amazing!

Supply is starting to catch up with demand (guys who really wanted GT's have got them), gas prices are measurably higher than when the car was released (and are likely to stay high), competition is creeping into the market (Camaro and Challenger loom on the horizon), and even some "Ford diehards" are going to start to wait for the restyled Mustang to hit the streets in '09 (unfortunately a less retro version from what I hear).

Add to it the fact that MOST people think their cars are worth WAY more than they really are leaves a person sitting exactly where you are today.....
Supply is catching up with demand. I paid $24,000 for my deluxe, manual tranny 06 GT last Christmas and the local dealer is now selling a similar car for $22,000. Ford is giving a rebate to clear out the 06's and that makes a difference. When the rebates are over and the 06's are gone, prices of a used GT should stabilize a bit. In general, any new car is going to depreciate like crazy for the first three years or so. The 05 Mustangs held their value well when there was more demand for the new model than there was supply. Those days are over.
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The "trade in" prices are typical of Ford dealerships trying to take advantage of the consumer just as they always have in the past. I dont think this is anything new, not that its right or wrong, its just what they do, "take advantage".
They shouldnt wonder why they are going down the tubes against the foreign market because just about any american made cars nowadays doesnt have a good trade in value.
The bottom line is that our cars are not investments, just a hell of a ride.
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right about that haz...i drive mine like mad max...i'll be lucky if i can pay someone to take it by the time its old.
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Quote:
Originally Posted by GTNOS
like i have said before. mustangs have never been very good at holding thier value. i believe one reason is because there are so many of them. i love my car, but did NOT buy it as an investment. cars are not good investments anyway. no one can predict what models will be future collectibles. sports / muscle cars like mustangs camaros, and firebirds are traditionally seen as a "lose your a$$ on" type of a purchase. those vehicles just dont hold value very good. and the fact that you can get a new 07 for 0% at sticker and maybe even below now aint helping... bottom line, youll never get more than what you paid for it. period. but rest assured, you still have one helluva car...
Ironically speaking, in order for my brother to take advantage of Ford's 05 financing, he just traded in his '05 F150 for a '06 F-150. Here is the good part...the dealer gave him $18,500 for his low mileage, F-150 XL, extended cab, 2-whl drive....whereas he only paid $18,200 for the truck brand new in Jnauary 2005 (he bought the truck new from the same dealer). So once in awhile (apparently a great while) a car comes along that holds enough value to be worthwile (Hondas often resell for as much as a new one). Although our Stangs may be depreciating, apparently Ford still has at least one vehicle doing well.

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