bostang1

My wife told me she was going to check out the new 2011 5.0 Mustang and just like i feared she got pressured into signing a contract. She has not yet traded her 07 GT in but she is supposed to take it to dealership tomorrow to get the new 2011. I just wanted to see what you guys think of the deal and what if she doesn't pick the car up after signing? Ok, 2011 5.0 Black Automatic GT Premium, I'm guessing its a premium because she said it had leather seats and shaker 500 with a rear view camera and some other stuff and also has the 19" rims. The dealership she bought from has to go and pick up the car she wants from another dealership 200 miles away. She ended up agreeing to 36500 price and I'm not sure if its atleast an ok deal? She also fell for the old Gap insurance and extended warranty ripoff which cost her another 2500! She financed it for 6 years with a 6.9% interest rate, whick i know sounds bad but credit score was a 605 so she was lucky to be uner 10% but what do you guys think about it? I told her to cancel the gap and extended warranty ASAP and I would let her know what I could find out about the going price on these cars. I forgot, They are giving her payoff of 16000 for her 2007 GT with 52K on it now and its a base model GT. What do you guys think?

tom_vilsack

why didn't you go with her?

specs as you show them (invoice with holdback)

GT Pre=30,265...402A=2,153...auto=866...19"=866...rea r vid=355...des fee=850

total=$35,355

so unless more options...she overpayed

print out price list...and go back in with her...

case you missed it...price list link

https://themustangsource.com/attachm...1&d=1263645609

super6stang

Sounds like she's paying MSRP, I tried building one on Ford's site but it comes out to 36,070. Do you have any equity in your trade? Is that 36,500 out the door or before taxs and doc fees?

My MSRP is 36,685, got $500 bonus cash, agreed to 500 over invoice, out the door total was just under 38,000.

Some guys posted getting under invoice but my dealer was a major headache.

bostang1

I was working and "she was just going to look". No equity, and check this out. I just found the car they are going to pick up listed on this dealerships website. Same vin as the car she signed for.
http://www.woodyandersonford.com/inv...etails=6916477

bostang1

That total is not including taxes and doc fees. page is not working right but it says on the listing "REAR BUMPER SCRATCHED I "UP AND 3" DIA"???

tom_vilsack

i wouldn't pay a dime over invoice with holdback...and if bumpers scratched...id walk on deal

go down with her...say deal in void as car has scratch....then workout with price list...

hate to say it...but ya just gotta think they tryed taking advantage of your wife (female thing) :-(

super6stang

If you haven't driven off the lot, I believe the contract doesn't mean anything, there are a few Dealers on the site you can ask as well. The only issue, the Dealers going to make a fuss about selling one of the few available Gt's well under MSRP, especially after thinking they closed her current deal with possibly 500 over MSRP.

Has she signed over her car already, or placed any money on the table? If you can walk on the deal, do it. Place a retail order somewhere else and the Dealer proabably won't hassle too hard about paying close to invoice.
Downside you'll have to wait but you'll save cash. Get atleast three appraisals for your trade in, I heard bad things about Carmax but they offered me 500over KelleyBlueBook in one offer, where I had to fight with my Dealer to get 300under KBB.

PTRocks

I would also check to see if there is a mandated "cooling off period" for signing contracts in your jurisdiction. For example, here we have 48 hours to change our minds, regardless of what the contract says.

Gene K

1. 6.9% is about as good as you can do on 72 months right now through Ford. No problem their.
2. They are giving her roughly $1100-2100 over Average Trade (NADA) or Good Wholesale (Kelly Blue Book) for a 52,000 mile GT Deluxe in my locale. So no problem their.
3. Without knowing what MSRP or Invoice is on the exact car she is buying its hard to say if $36,500 is a fair price.

Edit: MSRP $36,465. Total Invoice $34,057.60

If they are padding her trade by roughly $1,600 (which it appears to me) then they are off by a little under $850.

Bottom Line: Undisclosed previous damage to vehicle. We are walking.

PS GAP Insurance isnt a bad idea with essentially zero down and a 72 month term. But dont overpay for it. Some Car insurance companies offer it as a rider on your auto policy for way less than a dealer.

bostang1

I'm going down there tomorrow and telling them that I was not told about any sctatches to the bumper so that will take care of any contract signed. I don't think I'm going to get them down to 35300 because its impossible to get this car anywhere else around here right now so I'm willing to pay a little extra but with the bumper being scratched enough for them to put it in the vehicle description to me seems like enough for some kind of discount. I'm thinking of telling the salesman she dealt with 35800, reason be is I really think 16K is a good amount for her Mustang. Edmunds has it booked at 13800 so I'm thinking the 2K they are giving more on her car is the reason for the higher price on the 2011. What you guys think?

bostang1

I am walking even if they come down 850? And gap insurance was 695 with dealership.

wannabe

I got 3.9 for 72 in mid-March.

bostang1

is your credit score around a 605?

dmhines

My GT had a paint chip from lot damage .. but Gold GT's were few and far between so I still wanted it. When I signed the contract they gave me a WE OWE YOU document saying they owed me a fixed paint chip. Make sure they didn't give your wife a WE OWE YOU document for the scratch or that could prevent you from walking.

corvettedreamin

The other option on the car is the $395 security package.

I don't think it's a very good deal at all. Drop the extended warranty and PM me if you want a lead on one for closer to $1k.

dmhines

Screw the extended warranty from dealer. I got suckered in too and ended up cancelling it and got my money refunded.

I then bought a 72/60K warranty straight from Ford .. PremiumCare (B2B) with $0 deductible for $950 ... The dealer sold me a 72/60K Extended Care (not B2B) with $100 deductible for $1650!

Ford gives you 0% financing on ESP contracts for 17 months ... you can buy it online after you register you car with Ford ..

corvettedreamin

Sorry, the one I was quoting was 6 years/100k and $100 deductible for about $1k. 72/60k only extends your normal powertrain warranty 1 year and no miles. (That's a lot of money for that.) $50 more for 40k more more miles seems like a bargain to me if you're gonna be driving it.

dmhines

I have multiple vehicles ... my 2006 only had 24K miles when I traded it in ... I went for the $0 deductible instead .... I got the 0% interest for 72 month deal on my 2010 ... so wanted to make sure I was covered 100% for the duration of the loan ... or at least until I trade it for a 2014 ...

corvettedreamin

The advantage to purchasing the longer warranty is that if/when you transfer it it's more likely to have more miles left on it for the prospective buyer. Transfers are now $75.

My F150 has a 6 yr/36k ESP warranty on it. It will be 6 years old in October and has 33k on it now. How's that for timing?

wannabe

I hope not. Missed that part of his post I guess.