Is this a good price for my car.....

[jcovercash]

Im selling my 92 5.0 Mustang and have been offered $3,000-$3250 for it....
The following is the information on it.

The car has a salvage/junk title, it was never wrecked it was stolen and then later recovered after the claim.

92 Ford 5.0 Mustang Hatchback
Car is in decent shape, driver side rocker panel is smash in, wheels where stolen off it and it was dropped on blocks.
Some clear coat is peeling, some paint is missing on the front bumper. It has its normal wear for a 15 year old car.
The inside door handle bezels are loose, passenger side arm rest is loose.

Over 120,000 Miles. Do Not Have Acurate Reading Because Spedometer WAS Broken (Replaced with new speedo)
Power Windows
Power Locks (Do Not Function 100%, Have Aftermarket Replacements if Interested, Must be installed by Buyer)
Cruise
Power Drivers Seat
Dual Power Mirrors
Seats out of a 95 GT

Performance Parts
Cold Air Intake
Calibrated Mass Air Meter (Pro Flow)
BBK Shorty Headers
Full Mac Off-Road Exhaust
3.55 Rear End Gear
Steeda Tri-Ax Shifter
Energy Suspension Bushings Installed
Sub-Frame Connectors

Sound System
Sony Explode 52x4 CD Player
Pioneer 6x8 Rear
JL Audio 6 1/2 Door
3 1/2 Dash

New Parts
Water Pump
Timing Belt
Power Steering Pump
Rack & Pinion
Ball Joints
Tie Rod Ends
Shocks
Struts
Front Tires (1 Month Old)
Rear Tires (7 Months Old)


passengerfront.jpg
interior1.jpg


BTW I am going to pick up my new 03 GT tommorow ....... This extra money would make an extra nice down payment. .

 

[djNickb]

Sounds like a money pit

 

[jcovercash]

Originally posted by: djNickb
Sounds like a money pit

????, Like Im loosing money or making it? OR that a lot has been put into it. My bottom $$$ price was $3,500 but I was offered $3,000 Im pretty sure I can get him to do $3,250

Josh

 

[DerwenArtos12]

that seems like a low price for that car. I woudl push him for the 3500. and a money pit is when you lose money.

 

[StageLeft]

Seems fairish. It's an old muscle car, so you can't expect to get too much for it, but it does look to be in good condition.

 

[Thegonagle]

Holy $#i+! Take the money and run! (The way you tell it, your car sounds like a beat-up old POS, and it has a SALVAGE title to boot! It's not worth $3000, let alone $3500, despite the fact that it looks pretty clean and nice. It's still a 12 year old Ford with well over 100,000 miles and a salvage title.)

 

[DougK62]

You can get more. Ask $4000 and it'll sell for $3500.

 

[Thegonagle]

Originally posted by: DougK62
You can get more. Ask $4000 and it'll sell for $3500.

He has an offer at the most opportune time, so I think $3250 would be excellent, if the buyer has it. Otherwise, I'd take the $3000. (Try to ask for cash or go to his bank with him and get a known-to-be genuine cashiers check on the spot--too many fake cashiers checks out there right now.)

I'm sorry I'm so harsh about the value of used cars, but having worked in the car business, I know that retail values posted on Edmunds, NADA, and KBB (oh yeah, especially KBB :| ) are months out of date and therefore, totally bunk. Plus, significant body damage or any rust reduces the value by nearly half, especially on the trade-in side of the deal. Furthermore, performance mods do NOTHING for the value, and in fact, usually hurt it. (Mechanical problems or a dirty interior also conspire to significantly reduce the value from "book, although this is not what's hurting your car's value. The biggest things are the UNKNOWN mileage, the body damage, and the salvage title.)

Bottom line reality factor: Your car is a hard sell, but you've got an offer. Take the money, put it 100% toward your DP on the new loan, and forget about your original bottom dollar.

 

[Jumpem]

Originally posted by: Thegonagle
Holy $#i+! Take the money and run! (The way you tell it, your car sounds like a beat-up old POS, and it has a SALVAGE title to boot! It's not worth $3000, let alone $3500, despite the fact that it looks pretty clean and nice. It's still a 12 year old Ford with well over 100,000 miles and a salvage title.)

 

[godmare]

Originally posted by: Thegonagle
Holy $#i+! Take the money and run! (The way you tell it, your car sounds like a beat-up old POS, and it has a SALVAGE title to boot! It's not worth $3000, let alone $3500, despite the fact that it looks pretty clean and nice. It's still a 12 year old Ford with well over 100,000 miles and a salvage title.)

Exactly.

And canadians must not know about musclecars, skoorb

 

[Jumpem]

Originally posted by: Thegonagle....but having worked in the car business, I know that retail values posted on Edmunds, NADA, and KBB (oh yeah, especially KBB :| ) are months out of date and therefore, totally bunk.

So then what are good sources to get vehicle values?

 

[AmericasTeam]

$3250 is a great price.
That car looks pretty clean inside and out.

 

[Thegonagle]

Originally posted by: Jumpem

Originally posted by: Thegonagle....but having worked in the car business, I know that retail values posted on Edmunds, NADA, and KBB (oh yeah, especially KBB :| ) are months out of date and therefore, totally bunk.

So then what are good sources to get vehicle values?

Those are the best sources, but those values are obtained by looking at what dealers, banks, and state DMVs report them being sold at. Therefore, it's out of date by the time it's published. Just know that going in, and if you're buying, shoot for a few percent below, and if you're selling or trading, expect to settle for a few percent below, unless your car is 100% outstanding.

(I guess I shouldn't have said they're totally bunk, but do understand that they're not completely accurate.)

 

[jcovercash]

Originally posted by: AmericasTeam
$3250 is a great price.
That car looks pretty clean inside and out.

Well I ended up taking a check for $3200 (I know this guy, I work with him and have know him 10 years so his check is good ), Plus he is going to take me out to eat .

BTW I only have $2000 in the car.

Josh

 

[Frosty3799]

Nice.