wonbadappl

I'm in the market for my first Mustang and I'm hoping to get a Gt500, but I've got a few questions?.............

1. Ford announced a 9 Billion dollar loss on Thursday. Why are they letting their dealers sell cars for $10,000 dollars over sticker?

2. Why are there so many GT500's for sale on Ebay with a few thousand miles on the odometer?

3. Why are there so many 2007's for sale still, when the 2009's are out?

4. Are owners trading them in hoping to get a 2010?


thanks.....................

Boltzman

1. Thats why they are in the red
2. People probably can't afford the gas or insurance
3. again, gas prices
4. true die hards probably are

wonbadappl

Thanks Bolt, but I'm getting cold feet. Somebody reassure me that when I pay $50,000 for mine it won't be worth $15,000 in a few years.

jpro

People bought these cars initially b/c they thought they would go up in value (idiots) and because they have money to burn and wanted to be the first people to own them (these people aren't really mustang fans, just idiots with lots of dough). Gas and insurance also takes its toll.

A couple weeks ago I did a search of all completed auctions for GT500's. There 130 completed auctions and only 9 sales (121 weren't sold or didn't meet reserve). Of those 9, 7 of them sold for between $36K-45K. I'd bet you could find a nice used one with under 5K on the odometer for around $40K, if you're not particular about color.

Dealers are scum...the days of ADM on these cars is over.

wonbadappl

I couldn't agree with you more Jpro. I just got off the phone with a dealer and he said he "would do me a favor" and "give" it to me for $2000.oo over the $48,000 sticker. Geez. I can see whats happening is the dealers are going to give this car a bad name. And the mystique will be gone.

wonbadappl

Jpro...............I'm looking for Performance White...........F.Y.I.

mustang_lurkers

I believe that these will be worth a lot of money but you will all be very old when they are worth a lot.

Shotokan1509

Also remember our economy in general isn't doing well, so ppl bought these cars when they thought they could afford them, now they're losing their jobs or their mortgage is kicking their butt so the toys are the first to go.

GTMark052

Ha Ha.....thats a steal compared to what a local dearler is asking for one in my neck of the woods....$20,000. yes, twenty thousand over sticker..and they wonder why its still sitting in the showroom.
I figure if you want to get a GT500 as a daily driver, you would probably be better off just getting a stock GT and modding it to be like the GT500. You could make it a better handling and more powerful car for less cost than the sticker price of a "real" GT500.

I have to agree with Boltzman on his answers to the 4 questions....he pretty much nailed it, IMO.

I also agree that one day in the distant future they most likely will be worth more but then again any gasoline powered car may have antiquity value by then.

StangMahn

yeah, chuck nailed it

ADM's are rediculous first and foremost

also, if you want a daily driver, I agree with a previous post about buying a reg. gt, then modifying it the way you want. you can probably find a good used one for btwn 15-20k, a supercharger is 7k, and you can spend 3-5k on suspension, and still have 20k left for w/e you want

adrenalin

Have you called your insurance company to see how much insurance is going to cost you? Let alone gas prices, etc etc etc there are reasons you see so many for sale. As for trying to reassure you that it won't be worth $15,000 in 4 years, well it might be worth $20,000. Cars do not hold value these days and the GT500 is no exception. Maybe 40 years from now it will be worth a lot but not in the next couple of years.

Indystang

Keep watching and you might find one cheaper. The winter holidays are a good time to buy one here in the midwest. It looks like alot are already looking to get out from under them.

awakeinAZ

Well, your request for a 2008 for $30,000 was not well received on the Shelby boards. It was closed by a moderator already.

I'm curious to know, how old are you? I'm going to guess 22?

wonbadappl

Adrenalin.......I have Allstate now.............and I have my original 1987 Ford Escort GT (66,000 original miles)....cost me $90 a month.....I called Geico for the same coverage $150 per month.

Boltzman

For a 1987 vehicle? Thank god I don't have to go through that anymore..

wonbadappl

Awakeinaz.........sorry but I posted twice , so one was closed. Actually I'm 41. And I'm not trying to **** anyone off. I'm just trying to get a feel for what the marketplace is across the country. Here in the Northeast prices are going 5K-15K over sticker.

wonbadappl

OOps Boltz...........$150 for both cars....my bad..........My Escort still all original parts, is my baby....bought it when i turned 19....lots of memories.

Boltzman

Thats much better If you want a vehicle that retains its value,you need to get a foreign car.

rarecat

1. Ford has no control over dealer pricing. GT-500's are one of only things bringing people on the lots, they want to get as much out of them as they can. That helps make up for the lot lizards they have to give away

2. In a tough economy, toys are the first thing to go.....

3. Many Dealers like having them in the showroom and know they can sell it whenever it pleases them. GT-500's bring people into the showroom

4. Since the info on 2010 is sparce, I'd say this is not very likely

Now is a real good time to buy a clean used one, but 30K is not a realistic price. High 30's should get you in the drivers seat

Paris MkVI

What rarecat said. Ford has sold the GT500 to the dealer, and they're done now. Ford made their buck on the car. The dealer owns it now.