Considering purchasing a rental Mustang..
10/20/10, 11:21 AM
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Considering purchasing a rental Mustang..
Been out looking for a new 011 V6 Vert and havent really seen any great deals yet. Costco offered -$1K along with -$1K rebate and 1.9%/36 mo. I think I could get them a bit lower, but -$2K on a near $30K car still seems high. All the local new 010s are very picked over.
While looking at one, I wandered over to the used section. It seems the local dealer lots are full of used 2010s at very attractive prices. Thing is, every one is a prior rental car....which is a big turn off. But....the prices are really good...
Most are Deluxe verts with Auto. They should have MSRP of ~28K. Most dealers are asking $18-20K with 20-25K miles. I passed up on a nice color combo with 21K miles for $17K while arguing with the wife if we even needed another car. But, if theres one at that price, there will be others, especially as winter get closer.
So, I know how I drive a rental and am really questioning if this makes sense or not. Thing is, with 10K left on the bumper to bumper waranty and 35K+ left on the power train waranty, I would be covered for quite a while.
So, is buying a prior rental stupid? Or save ~$10K and buy a 100K extended warranty and roll the dice???
While looking at one, I wandered over to the used section. It seems the local dealer lots are full of used 2010s at very attractive prices. Thing is, every one is a prior rental car....which is a big turn off. But....the prices are really good...
Most are Deluxe verts with Auto. They should have MSRP of ~28K. Most dealers are asking $18-20K with 20-25K miles. I passed up on a nice color combo with 21K miles for $17K while arguing with the wife if we even needed another car. But, if theres one at that price, there will be others, especially as winter get closer.
So, I know how I drive a rental and am really questioning if this makes sense or not. Thing is, with 10K left on the bumper to bumper waranty and 35K+ left on the power train waranty, I would be covered for quite a while.
So, is buying a prior rental stupid? Or save ~$10K and buy a 100K extended warranty and roll the dice???
10/20/10, 11:27 AM
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Howdy!
FWIW, I bought a used car from a Dealer a year ago that had been a rental. It was an 08 with 18k in 18mos, and still had half the factory warranty remaining. It had been well serviced and ran awesome!
That was my first experience with buying a rental and I would not hesitate to do it again. Just because it has a lot of miles and may have been driven a little hard doesn't mean anything bad as long as it has been well serviced along the way. IMO
FWIW, I bought a used car from a Dealer a year ago that had been a rental. It was an 08 with 18k in 18mos, and still had half the factory warranty remaining. It had been well serviced and ran awesome!
That was my first experience with buying a rental and I would not hesitate to do it again. Just because it has a lot of miles and may have been driven a little hard doesn't mean anything bad as long as it has been well serviced along the way. IMO
10/20/10, 11:40 AM
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10/20/10, 12:05 PM
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I agree that proper service can make up for a lot of things mechanically. I'd just be very careful about cosmetic items - dings, scratches, cigarette burns, etc..
Somehow Performance White doesn't have the same impact (Performance White).
Somehow Performance White doesn't have the same impact (Performance White).
10/20/10, 12:11 PM
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MOTM Committee Member
10/20/10, 12:51 PM
#13
I bought an 03 v6 that had been a rental.. had 14,000 miles on it. Drove it till I traded it in with 72,000 miles.... ran great!... only problem... fuel pump went out once, and it was covered by warrenty.
10/20/10, 02:37 PM
#14
I would never buy a rental. Those cars can get flogged pretty hard, and no amount of TLC afterwards can undo that. Plus, the paint is usually pretty abused. A friend rented a new Camaro a couple of weeks ago. The paint was a mess. I'd rather buy a pristine '08 or '09 than a '10 that was a rental.
10/20/10, 02:54 PM
#15
Tasca Super Boss 429 Member
Remember though, the resale down the road on the 2010 model will be less than the 2011.
Of course because it is a year older but also:
IMO if the popularity of the new engines is great, the 2010 "old engine-new body" car will suffer in value more than normal depreciation.
10/20/10, 04:21 PM
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10/20/10, 05:00 PM
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Don't any of you ever listen to Jeff Foxworthy: "Buying a used rental car is like going to a house of ill-repute looking for a wife!"
On top of that I've had at least two rental car experiences where at the time I picked up the car and started to drive away, I noticed the maintenance "wrench" was illuminated. BOTH times, when I told the rental agents, they both said to disregard the little wrench and to feel free to reset the thing if I wished. One of those times was immediately prior to embarking on a 2000-mile round trip.
On that note, I would not want to buy any used car where I had no good indicators or evidence of what kind of maintenance the car received. I've been burned (or rather the rings were) on that one.
On top of that I've had at least two rental car experiences where at the time I picked up the car and started to drive away, I noticed the maintenance "wrench" was illuminated. BOTH times, when I told the rental agents, they both said to disregard the little wrench and to feel free to reset the thing if I wished. One of those times was immediately prior to embarking on a 2000-mile round trip.
On that note, I would not want to buy any used car where I had no good indicators or evidence of what kind of maintenance the car received. I've been burned (or rather the rings were) on that one.
10/20/10, 05:29 PM
#18
GTR Member
The 3.7 V6 in the 2011 DOES NOT HAVE CAM FOLLOWERS. Cams ride directly on the buckets on top of the valves. I have seen this come up on a few threads now and it is obvious that those owners don't know or understand what they have.
Plus, the rental car will be an automatic and I have not heard of a 2011 automatic having any problems.
