How much is my '14 GT worth on trade? - Ford Mustang Forum
 
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post #1 of 12 (permalink) Old 06-05-2014 Thread Starter
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How much is my '14 GT worth on trade?

Hey Guys! I wanted to get your honest opinion if my trade-in offer is fair or not. They offered me $23,000 for my 2014 GT base manual with no options and with 6,000mi on the odometer, but probably 9,000mi when I actually turn it in. Fair or Not?

Keep in mind these two factors: First, I ordered the new 2015 S550, I'm trading my 2014 GT Base towards that and they're offering me a hard trade-in figure now even though I'll be driving it for months until I take delivery of the '15. Most importantly, the 2014 Mustang GT base is selling for $26k or less brand new in many areas. Second, I'm getting a GREAT deal on the 2015 GT- $880 below invoice! Most dealers didn't want to give me a solid trade in figure now, 4+ months ahead of time for obvious reasons. Most gave me a ballpark figure.

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post #2 of 12 (permalink) Old 06-05-2014
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I gotta ask why you bought a 14 when you knew you wanted a 15?

I know nothing about US prices, my car is spec'd out and it was a near 50k sticker here in Canada.

I will probably acquire a 2016 once they work out all the first year model glitches.


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post #3 of 12 (permalink) Old 06-05-2014
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Quote:
Originally Posted by wilson68944 View Post
Hey Guys! I wanted to get your honest opinion if my trade-in offer is fair or not. They offered me $23,000 for my 2014 GT base manual with no options and with 6,000mi on the odometer, but probably 9,000mi when I actually turn it in. Fair or Not?

Keep in mind these two factors: First, I ordered the new 2015 S550, I'm trading my 2014 GT Base towards that and they're offering me a hard trade-in figure now even though I'll be driving it for months until I take delivery of the '15. Most importantly, the 2014 Mustang GT base is selling for $26k or less brand new in many areas. Second, I'm getting a GREAT deal on the 2015 GT- $880 below invoice! Most dealers didn't want to give me a solid trade in figure now, 4+ months ahead of time for obvious reasons. Most gave me a ballpark figure.
Considering what you likely paid and given the depreciation and current incentives, $23,000 sounds very reasonable for a stripped GT. It's not too much less than what one might pay to buy a new one today.

Especially if they're offering you a hard trade value today for a future turn-in, you might do better but it won't be by much. In the meantime, I'd try to sell it independently and have the dealer do a pass-through transaction to the new buyer so you can retain the sales tax credit.

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post #4 of 12 (permalink) Old 06-05-2014
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I was offered 24K with 8500 (base GT) in February. On a trade in with a Ford dealer. Didn't take it, but I thought it was fair at the time.

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post #5 of 12 (permalink) Old 06-05-2014
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Quote:
Originally Posted by wilson68944 View Post
Hey Guys! I wanted to get your honest opinion if my trade-in offer is fair or not. They offered me $23,000 for my 2014 GT base manual with no options and with 6,000mi on the odometer, but probably 9,000mi when I actually turn it in. Fair or Not?

Keep in mind these two factors: First, I ordered the new 2015 S550, I'm trading my 2014 GT Base towards that and they're offering me a hard trade-in figure now even though I'll be driving it for months until I take delivery of the '15. Most importantly, the 2014 Mustang GT base is selling for $26k or less brand new in many areas. Second, I'm getting a GREAT deal on the 2015 GT- $880 below invoice! Most dealers didn't want to give me a solid trade in figure now, 4+ months ahead of time for obvious reasons. Most gave me a ballpark figure.
Base with no options new:

New 2014 Ford Mustang For Sale | Fairfax VA

I think the offer is more than fair.

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post #6 of 12 (permalink) Old 06-05-2014
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Sounds fair. They cant sell it for a whole lot more than that as brand new ones are going for just a few grand more OTD.

I remember your post last year, when you bought the 2014. Folks were criticizing you for paying too much for your car. The hit you're going to take is now going to be $8-10K instead of $4-6K if you had held out for a better price.

Hopefully, you have better luck with the 2015.

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post #7 of 12 (permalink) Old 06-05-2014
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Sounds about right, your trade in value won't change with a couple thousand more miles on it because the car dropped in value as soon as it left the lot. Such is the nature of buying new cars, depreciation sucks.


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post #8 of 12 (permalink) Old 06-05-2014
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From everything I have heard here and seen for myself I believe it's a fair offer.

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post #9 of 12 (permalink) Old 06-05-2014
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Sounds like a really good number, especially considering the price on the '15.

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post #10 of 12 (permalink) Old 06-06-2014 Thread Starter
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Thanks for your opinion, guys! I thought it was fair, too!

Fatopotomus- You're telling me! I learned a lot that time. It was my first new car purchase. I wasn't going to let it happen again.
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Take it, it's surprising they are making an offer 4 months out. Values can change quite a bit in 4 months. I expect values to drop a lot on 14s then pick back up a bit after the buzz of the new model is over. Can you wait for a 2016 instead? You will probably get it cheaper and the 2016 will be a better car. BTW "Invoice" is the new "Retail" or "MSRP" as far as I'm concerned.
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Yeah, I doubt you get anything more than that offer OP. Mustangs are great cars but the market stays flooded with them because of their popularity. That all adds up to faster depreciation. Just for kicks, I did a search on just Cars.com and limited it to 11-14 GT and GT Premium. There are 1,468 listed for sale. Factor in the fact that not every person or dealer lists on cars.com and the number is even higher. Mustang is not alone though. As a rule, you have to keep a car a few years to break even. Trade fast and you will take a loss every time. I didn't get what I wanted for my 13 either.

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