Ford Mustang Forum banner

1 - 20 of 22 Posts

·
Registered
Joined
·
755 Posts
Discussion Starter #1
Back in the summer, when I bought my '08 GT, it booked for almost $18,000. I looked it up myself in NADA and KBB. Dealer was asking $17,995 for it and since it was a one owner in almost flawless condition for a used car, I bought it. Yes, I did try my best to bring them down on it...they gave me more for my trade. Well, five months later the trade in value is down to $12,500 and the private party value is like $14,000! Holy crap. What happened? Is it because of the 2015?? Is that why S197 values have tanked??
 

·
Registered
Joined
·
5,010 Posts
Well, typical for the 1) time of year and 2) new model introduction....pretty much on par with the usual
 

·
Registered
Joined
·
612 Posts
Back in the summer, when I bought my '08 GT, it booked for almost $18,000. I looked it up myself in NADA and KBB. Dealer was asking $17,995 for it and since it was a one owner in almost flawless condition for a used car, I bought it. Yes, I did try my best to bring them down on it...they gave me more for my trade. Well, five months later the trade in value is down to $12,500 and the private party value is like $14,000! Holy crap. What happened? Is it because of the 2015?? Is that why S197 values have tanked??
Lol, yeah, good one... a 2008 GT was worth $18K in summer 2014.

A 2008 car is 8 YEARS OLD. And to top it off, its a Mustang. What were you expecting? 2011 5.0s are going for $18-20K now.
 

·
Registered
Joined
·
237 Posts
Lol, yeah, good one... a 2008 GT was worth $18K in summer 2014.

A 2008 car is 8 YEARS OLD. And to top it off, its a Mustang. What were you expecting? 2011 5.0s are going for $18-20K now.
You did your research, and bought what seems to be a good car at fair market value. If you don't have to sell it, just enjoy it, and don't worry about the market value.

And, a mint, low miles car often goes for higher than book!
 

·
Registered
Joined
·
550 Posts
Lol, yeah, good one... a 2008 GT was worth $18K in summer 2014.



A 2008 car is 8 YEARS OLD. And to top it off, its a Mustang. What were you expecting? 2011 5.0s are going for $18-20K now.

Can you post some links to these 2011 5.0s for 18-20k? Around here they are still going for 22-25k.
 

·
Registered
Joined
·
755 Posts
Discussion Starter #7
Lol, yeah, good one... a 2008 GT was worth $18K in summer 2014.

A 2008 car is 8 YEARS OLD. And to top it off, its a Mustang. What were you expecting? 2011 5.0s are going for $18-20K now.
Um... at that point in time the '15 wasn't out, the '14 was, which made my car SIX years old, not eight. Even right now, it's still not eight years old. :heha:

Second, as I already mentioned I always look up values myself before buying and in this case all the various "book values" including Edmunds "true market value" were right in line with the dealer asking price which was around that $18K mark. So basically you're calling me a liar. I'm in a pretty good mood today cause it's a short week for me at work, so I'll let that one slide. :handshake

All I'm trying to say is....it seems a little excessive for a used car to lose $4,000 in value in less than six months. I don't think I've seen that since 2008 when gas hit $4.29 and pickup truck values crashed. Geez...
 

·
Registered
Joined
·
434 Posts
You should sell in Austin. I can't believe the prices on 75-100k mile GTs. Kind of makes me want to sell my 36K car... not really:)
 

·
Registered
Joined
·
10,123 Posts
Bottom line -- don't worry about it too much. Those numbers always seem pretty flaky to me anyway; if I'm selling I can never get that much and if I'm buying I have to pay more.

Your car is worth whatever you can get for it at the time that you sell it, which could be more or less than those numbers . . . . so in the mean time, don't stress over it.
 

·
Registered
Joined
·
612 Posts

·
Registered
Joined
·
612 Posts
Um... at that point in time the '15 wasn't out, the '14 was, which made my car SIX years old, not eight. Even right now, it's still not eight years old. :heha:

Second, as I already mentioned I always look up values myself before buying and in this case all the various "book values" including Edmunds "true market value" were right in line with the dealer asking price which was around that $18K mark. So basically you're calling me a liar. I'm in a pretty good mood today cause it's a short week for me at work, so I'll let that one slide. :handshake

All I'm trying to say is....it seems a little excessive for a used car to lose $4,000 in value in less than six months. I don't think I've seen that since 2008 when gas hit $4.29 and pickup truck values crashed. Geez...
Im not calling you a liar. Im just saying you are/were ignorant of what the car was/is worth.

In general, used based Coyotes are in the high teens/low 20's (depending on year)

Also in general, used 05-09 S197s are worth $10-$15K depending on year or miles. I dont care what some shady dealer is trying to foist off on unsuspecting folks or what the 'book' says. Those are the loose market values.
 

·
Registered
Joined
·
3,630 Posts
It's an inevitable fact that when a new model comes out, the value of older models drops.
My advice is that if you have an 05-09 GT that's in really good condition, keep it for as long as possible. Then you won't care about depreciation.
 

·
Registered
Joined
·
612 Posts
My advice is that if you have an 05-09 GT that's in really good condition, keep it for as long as possible. Then you won't care about depreciation.
Best advice in this thread.

By the way, Bullitt, great numbers from those mods, thats a good choice of bolt ons.
 

·
Registered
Joined
·
1,412 Posts
Right On

It's an inevitable fact that when a new model comes out, the value of older models drops.
My advice is that if you have an 05-09 GT that's in really good condition, keep it for as long as possible. Then you won't care about depreciation.
I never planned on selling mine because the 2005-2009 GT was a short run but a strong one and the body style with a controllable live axel as the IRS has never been my cup of tea so I'm all in.
Plus it is still running strong!

T Wayne
 

·
Registered
Joined
·
3,630 Posts
By the way, Bullitt, great numbers from those mods, thats a good choice of bolt ons.
Thanks, and those numbers are with a completely stock exhaust. Any future upgrades will probably be just replacing worn stock parts.
I think my car will also be a keeper. The retro body style makes the '05-'09 more likely to become a future classic.
 

·
Registered
Joined
·
94 Posts
Well, having bought/sold 38 05-11 Mustangs, allow me to chime in here if you would.
First of all-stay away from dealers. They give you the LEAST for your trade-in and charge you the MOST for what they're selling to you.
Unless you are a car-flipper, don't pay too much mind to the NADA figures. At best, they're only a rough guide, not real world prices.
For what it's worth, I have NEVER, not once, ever paid close to NADA (or Kelley BB, for that matter) for any of the the Mustangs that I bought.
As a previous poster mentioned, the time of year when you purchase is critical. As a rule, the months of Nov-Feb are GREAT for buying, horrible for selling. Those are simply facts.
Just enjoy your car, that's what it's meant for anyway, isn't it? Pay no attention to its' worth, it is NOT AN INVESTMENT!
 

·
Registered
Joined
·
28 Posts
I am coming in to the market for a 05-09 Convertible GT,and not in a huge rush to buy.. I see Auto Trader/Cars.com are very dealer centric. Where are the better places to look? I scope craigslist regularly - but curious to hear where you find your cars.
Well, having bought/sold 38 05-11 Mustangs, allow me to chime in here if you would.
First of all-stay away from dealers. They give you the LEAST for your trade-in and charge you the MOST for what they're selling to you.
Unless you are a car-flipper, don't pay too much mind to the NADA figures. At best, they're only a rough guide, not real world prices.
For what it's worth, I have NEVER, not once, ever paid close to NADA (or Kelley BB, for that matter) for any of the the Mustangs that I bought.
As a previous poster mentioned, the time of year when you purchase is critical. As a rule, the months of Nov-Feb are GREAT for buying, horrible for selling. Those are simply facts.
Just enjoy your car, that's what it's meant for anyway, isn't it? Pay no attention to its' worth, it is NOT AN INVESTMENT!
 

·
Registered
Joined
·
1,328 Posts
I was discussing this with my brother in law last week so we looked my car up, and according to KBB my car's trade-in value is still $10,XXX. Considering I paid $13.2K for it 3 1/2 years ago that's not bad.
 

·
Registered
Joined
·
5 Posts
No doubt about it, your car, no matter what you pay is worth it... if its worth it to YOU. I bought a 2007 GT in Alloy, with 30k miles on it, one owner. It was EXACTLY what I was looking for... Many of you would be shocked at what I paid, which was more than NADA, KBB, Edmunds, etc... I don't plan on selling it.

If you find what you want for a bargain price.... AWESOME! If not, as long as you're happy, enjoy your car!

If you end up in a situation where you have to sell it, well, hang a price on it you can live with... screw all the website values. A car is worth what someone is willing to pay. You might run across a guy like me that is looking for your EXACT car, and willing to pay for it.
 
1 - 20 of 22 Posts
Top