What is with used Mustang GT (4.6) prices?

[Throckmorton]

I've been looking at 2005-2006 Mustang GTs, and I think you'd have to be stupid to pay these prices. We're talking $15000 for a 9 year old car with 70-100k miles. The Blue Book value of a 2006 Mustang GT is $18k. Seriously, just a few thousand less than a car that's a decade newer. Do buyers of these cars not realize that for maybe 33% more money they can get a current V6 model that is brand new, almost as fast, much more efficient, and wrapped in a new body with better safety features? Not only that, but this year the new sportier Mustang with IRS is coming out!

:thumbsdown:

 

[SpatiallyAware]

Seriously... The suspension changes alone are WELL worth the price premium.


The used car market in general has been ridiculous for quite a few years now.

 

[7window]

what would you pay for a 2006 gt convertible with 19k miles?

 

[nerp]

Don't get it either, my friend.

 

[Throckmorton]

what would you pay for a 2006 gt convertible with 19k miles?

I woudln't be surprised if they wanted $25k at a dealer for a car like that. I wouldn't buy it at all, because I know the low miles jacks up the price despite the age of the car

 

[Arkaign]

Some of this is a side effect of Ford's massive improvements. Ford resale prices are stratospherically high compared to a few years ago. In '05 for example, '99-'00 GTs were not nearly as expensive, relatively speaking. To say nothing of their general garbage of the era, Tauruses and such.

 

[EagleKeeper]

Perception

 

[Throckmorton]

Some of this is a side effect of Ford's massive improvements. Ford resale prices are stratospherically high compared to a few years ago. In '05 for example, '99-'00 GTs were not nearly as expensive, relatively speaking. To say nothing of their general garbage of the era, Tauruses and such.

What's also bizarre is that dealers are asking $10k for 2003 and 2004 Mustangs. I can't even imagine a person paying that much for a car with an 80s platform, grotesque 90s interior, droll cab-forward styling, etc.

 

[JCH13]

What's also bizarre is that dealers are asking $10k for 2003 and 2004 Mustangs. I can't even imagine a person paying that much for a car with an 80s platform, grotesque 90s interior, droll cab-forward styling, etc.

This is your failure of imagination, not the dealer misjudging pricing. Clearly they are selling cars at or around that price.

 

[7window]

I woudln't be surprised if they wanted $25k at a dealer for a car like that. I wouldn't buy it at all, because I know the low miles jacks up the price despite the age of the car

What is wrong with a low mileage car?

 

[pauldun170]

If you have a budget of 15K-18K for a car and you want something with comparable balls...what else would you get?

What are the better options out there (in the same price bracket) that should be driving used GT prices down farther?

 

[Ketchup]

Before the 'depression' I almost bought one but got a newer V-6 model instead. Good car, but in hindsight should have looked more for a GT. Even then the GTs were holding their value well, so given the increase in years of having a good reputation, and the economy continuing to be not so good, I am not surprised they are as high as they are. The market for used cars in general is pretty high (compared to new) and the prices reflect that.

 

[EightySix Four]

If you have a budget of 15K-18K for a car and you want something with comparable balls...what else would you get?

What are the better options out there (in the same price bracket) that should be driving used GT prices down farther?

C5 Corvette.

 

[Throckmorton]

What is wrong with a low mileage car?

The price is inflated because a lot of people thinks the low miles makes them much more reliable, but in reality a lot of parts will still have to be replaced due to age. Plus to me low miles implies lots of city driving.

 

[7window]

The price is inflated because a lot of people thinks the low miles makes them much more reliable, but in reality a lot of parts will still have to be replaced due to age. Plus to me low miles implies lots of city driving.

Or garage queen. 19k is nothing and practically new. Parts are hardly worn. You might be happy with a 40k mile or more cars price point but then you will be worried with the replacement parts as you indicated.

Its all relative. A 30k car might not be high mileage if the the year is 2030. As much as you want to get a deal on the car the other side want to get a good price for their car.

 

[ElFenix]

What's also bizarre is that dealers are asking $10k for 2003 and 2004 Mustangs. I can't even imagine a person paying that much for a car with an 80s platform, grotesque 90s interior, droll cab-forward styling, etc.

and this is in one of the better used car markets for buyers. can't imagine what it's like elsewhere.

 

[pauldun170]

C5 Corvette.

While that was the first car that popped into my mind, its a tough comparison since Vette is more of a niche car. (I think 2 seaters should only be compared to other two seaters)
Still a valid option though

 

[Throckmorton]

I put in a 10k bid on this car but they rejected my offer. I'm trying to decide whether to just bite the bullet and offer $12k. This company has a good reputation so I'm not worried about anything being misrepresented which would lead to costly repairs in the near future.

http://cgi.ebay.com/ebaymotors/Ford...3667035?pt=US_Cars_Trucks&hash=item2c6dfa155b

 

[Vdubchaos]

C5 Corvette.

x2

Can't go wrong there

 

[ProchargeMe]

I put in a 10k bid on this car but they rejected my offer. I'm trying to decide whether to just bite the bullet and offer $12k. This company has a good reputation so I'm not worried about anything being misrepresented which would lead to costly repairs in the near future.

http://cgi.ebay.com/ebaymotors/Ford...3667035?pt=US_Cars_Trucks&hash=item2c6dfa155b

$12k for that is a fucking steal in my opinion.

 

[JulesMaximus]

I put in a 10k bid on this car but they rejected my offer. I'm trying to decide whether to just bite the bullet and offer $12k. This company has a good reputation so I'm not worried about anything being misrepresented which would lead to costly repairs in the near future.

http://cgi.ebay.com/ebaymotors/Ford...3667035?pt=US_Cars_Trucks&hash=item2c6dfa155b

Like the color but those wheels look very plain. Take a look at that passenger door panel too, it looks like the "leather" is coming off the panel in a couple spots.

 

[Throckmorton]

Like the color but those wheels look very plain. Take a look at that passenger door panel too, it looks like the "leather" is coming off the panel in a couple spots.

Hmm, could be coming off. I'd probably have an upholstery shop fix it for a few bucks. Those are my favorite Mustang wheels so not a problem.

I'd really prefer a beige interior, but most have the black. Black is too dreary and also makes me feel slightly claustrophobic.

 

[Fern]

I've been looking at 2005-2006 Mustang GTs, and I think you'd have to be stupid to pay these prices. We're talking $15000 for a 9 year old car with 70-100k miles. The Blue Book value of a 2006 Mustang GT is $18k. Seriously, just a few thousand less than a car that's a decade newer. Do buyers of these cars not realize that for maybe 33% more money they can get a current V6 model that is brand new, almost as fast, much more efficient, and wrapped in a new body with better safety features? Not only that, but this year the new sportier Mustang with IRS is coming out!

:thumbsdown:

IDK man.

I did a search for Mustang GTs in my area, which are likely more expensive than those in your area, but news ones here are listed for $40K and up. Those were all 2013 models.

So, "a few thousand less"? I don't think so.

Fern

 

[phucheneh]

What?

http://www.inventory.ford.com/deale...n/1ZVBP8CF6D5277549?zipcode=37201&segment=Car

There's a brand new GT for 27k in my area. They're 30-40k if you fill them full of options.

 

[Sidekicknichola]

Used prices have gone up huge since hurricane Sandy... so many insurance losses that won't buy a new car, so used stuff if going up like be because of it.