What is trade-in value on 2010 GT?
1/27/10, 12:29 PM
#1
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What is trade-in value on 2010 GT?
I now have a price for my dream 2011 GT Prem:
- brembo brakes
- 3.73 gears
- candy red
- opt access pack 5
- $850 delievery
Xplan price = $35185, MSRP $37500 (about)
But my problem is no one knows what the trade-in value is of my 2010 GT. No dealer nor KBB or Edmunds can give me a trade-in price of my well equiped 2010. I am thinking maybe I can order the car and cancel it when it comes it if my trade-in is really bad as I need to get a good return in trade for me to afford the payments on the new 2011.
It is funny because I have contacted 3 or 4 dealer asking for a quote on a 2011 and only one dealer has gotten back to me. I guess they are not interested in taking orders for them right now.
Ideas??
Joe
- brembo brakes
- 3.73 gears
- candy red
- opt access pack 5
- $850 delievery
Xplan price = $35185, MSRP $37500 (about)
But my problem is no one knows what the trade-in value is of my 2010 GT. No dealer nor KBB or Edmunds can give me a trade-in price of my well equiped 2010. I am thinking maybe I can order the car and cancel it when it comes it if my trade-in is really bad as I need to get a good return in trade for me to afford the payments on the new 2011.
It is funny because I have contacted 3 or 4 dealer asking for a quote on a 2011 and only one dealer has gotten back to me. I guess they are not interested in taking orders for them right now.
Ideas??
Joe
1/27/10, 01:32 PM
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i dont know the answer to your question either but i hope there are tons like you that do trade in their 2010. i need a gt vert with saddle interior. lol
1/27/10, 01:46 PM
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I now have a price for my dream 2011 GT Prem:
- brembo brakes
- 3.73 gears
- candy red
- opt access pack 5
- $850 delievery
Xplan price = $35185, MSRP $37500 (about)
But my problem is no one knows what the trade-in value is of my 2010 GT. No dealer nor KBB or Edmunds can give me a trade-in price of my well equiped 2010. I am thinking maybe I can order the car and cancel it when it comes it if my trade-in is really bad as I need to get a good return in trade for me to afford the payments on the new 2011.
It is funny because I have contacted 3 or 4 dealer asking for a quote on a 2011 and only one dealer has gotten back to me. I guess they are not interested in taking orders for them right now.
Ideas??
Joe
- brembo brakes
- 3.73 gears
- candy red
- opt access pack 5
- $850 delievery
Xplan price = $35185, MSRP $37500 (about)
But my problem is no one knows what the trade-in value is of my 2010 GT. No dealer nor KBB or Edmunds can give me a trade-in price of my well equiped 2010. I am thinking maybe I can order the car and cancel it when it comes it if my trade-in is really bad as I need to get a good return in trade for me to afford the payments on the new 2011.
It is funny because I have contacted 3 or 4 dealer asking for a quote on a 2011 and only one dealer has gotten back to me. I guess they are not interested in taking orders for them right now.
Ideas??
Joe
Last edited by 05fordgt; 1/27/10 at 01:52 PM.
1/27/10, 02:33 PM
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1/27/10, 03:36 PM
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...my problem is no one knows what the trade-in value is of my 2010 GT. No dealer nor KBB or Edmunds can give me a trade-in price of my well equiped 2010. I am thinking maybe I can order the car and cancel it when it comes it if my trade-in is really bad as I need to get a good return in trade for me to afford the payments on the new 2011....
Joe
Joe
Joe, I'll tell you the methodology of putting a trade-in value on a current model year Mustang GT (or most any current model year vehicle, for that matter)....
- Consider that a used 2010 GT should be priced a couple grand less than an identically equipped brand new, otherwise who would consider buying it. Let's say $2K, for example.
- Also consider that a dealer that takes a 2010 GT in trade will want to make money reselling it. Maybe $2K, for example?
- Consider the rebates available on a new 2010 GT. While it's $3K in the NW, seems like it is about $2K most everywhere else.
- Consider that dealers are discounting new 2010's deeply to unload them. Maybe $1K below invoice, for example.
Also consider that many dealers are smart enough to know that the 2011 is more desirable than a 2010 and they may bid less for your 2010 than I suggested above. That's just simple supply/demand economics that may affect the trade-in value.
With a little luck, you put a big down payment toward the 2010 and/or didn't have a trade-in with a ton of negative equity toward the 2010. If you owe $30K or more on the 2010, you may have to come up with a big down payment to get a loan approval on the 2011.
Hope this helps. And, as always: "your results may vary."
Last edited by Five Oh Brian; 1/27/10 at 03:37 PM.
1/27/10, 03:44 PM
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No reputable site has one out yet. The most used industry wide is Kelly blue book. But What you could do to get a general idea, is use yahoo autos. they give you the options to build it the way you have it and then will show a graph on past results to gear you towards what it's worth.
My MSRP came was 36540 according to their graph it'll lose 7,100 over the first year.
Seems about right I would imagine...
Site: http://autos.yahoo.com/2010_ford_mus...m_coupe-price/
My MSRP came was 36540 according to their graph it'll lose 7,100 over the first year.
Seems about right I would imagine...
Site: http://autos.yahoo.com/2010_ford_mus...m_coupe-price/
1/27/10, 03:56 PM
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I would be surprised for a dealer to offer more than 20-23k...
Better off just taking 10k cash and lighting it on fire...
Better off just taking 10k cash and lighting it on fire...
Last edited by jedikd; 1/27/10 at 03:57 PM.
1/27/10, 04:47 PM
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Thanks for the input. I just talked to a dealer off-line here and figuring my car's MSRP was $35500 with 5,500 miles, right now they would give me about $26000 in trade. That is currently less than what the loan is. So it looks like no new 2011 for me.
Joe
Joe
Joe, I'll tell you the methodology of putting a trade-in value on a current model year Mustang GT (or most any current model year vehicle, for that matter)....
Also consider that many dealers are smart enough to know that the 2011 is more desirable than a 2010 and they may bid less for your 2010 than I suggested above. That's just simple supply/demand economics that may affect the trade-in value.
With a little luck, you put a big down payment toward the 2010 and/or didn't have a trade-in with a ton of negative equity toward the 2010. If you owe $30K or more on the 2010, you may have to come up with a big down payment to get a loan approval on the 2011.
Hope this helps. And, as always: "your results may vary."
- Consider that a used 2010 GT should be priced a couple grand less than an identically equipped brand new, otherwise who would consider buying it. Let's say $2K, for example.
- Also consider that a dealer that takes a 2010 GT in trade will want to make money reselling it. Maybe $2K, for example?
- Consider the rebates available on a new 2010 GT. While it's $3K in the NW, seems like it is about $2K most everywhere else.
- Consider that dealers are discounting new 2010's deeply to unload them. Maybe $1K below invoice, for example.
Also consider that many dealers are smart enough to know that the 2011 is more desirable than a 2010 and they may bid less for your 2010 than I suggested above. That's just simple supply/demand economics that may affect the trade-in value.
With a little luck, you put a big down payment toward the 2010 and/or didn't have a trade-in with a ton of negative equity toward the 2010. If you owe $30K or more on the 2010, you may have to come up with a big down payment to get a loan approval on the 2011.
Hope this helps. And, as always: "your results may vary."
1/27/10, 05:32 PM
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That's the problem with trading up early...you lose money. I did the same thing almost two years ago now when I traded an '07 V6 for an '08 GT. I got the '08 for about $8,000 under sticker, but I had to roll about $8,000 into the new loan (so it was like I walked in and bought the GT at the sticker price). V6's are a dime a dozen when it comes to trade-in value.
That being said, I don't really regret the deal, because I suspected that if I waited, it never would have happened. These days, my wife and I are trying to save up for a downpayment on a house while paying off other debts, and there is no way I could justify (at this point) buying a new car if I was still driving the V6. The possibility of being free from car payments would totally outweigh the appeal of driving my dream V8 muscle car.
Even with the new engines, I don't think there's really enough reason to upgrade from the 2010 to 2011. It's still the same body style, the same interior, and the same suspension. And keep in mind, Ford WILL come out with something new for the 2012, 2013, and maybe even 2014 model years. And, if you're feeling heartbreak now over the new engines, I can guarantee whatever they come out with will probably do the same thing even if you bought a 2011. Just imagine: IRS, a Mach 1, a Boss, etc.
What I would do is pay down the 2010 as much as you can over the next 1-2 years, and then pick up a 2011 when the rebates come out, or buy a new 2012. The other thing you can do is buy a supercharger and a Brembo brake set. Even if that cost you $6,000-$7,000, that's a fraction of what you'd be rolling over into a new loan with the 2011.
That being said, I don't really regret the deal, because I suspected that if I waited, it never would have happened. These days, my wife and I are trying to save up for a downpayment on a house while paying off other debts, and there is no way I could justify (at this point) buying a new car if I was still driving the V6. The possibility of being free from car payments would totally outweigh the appeal of driving my dream V8 muscle car.
Even with the new engines, I don't think there's really enough reason to upgrade from the 2010 to 2011. It's still the same body style, the same interior, and the same suspension. And keep in mind, Ford WILL come out with something new for the 2012, 2013, and maybe even 2014 model years. And, if you're feeling heartbreak now over the new engines, I can guarantee whatever they come out with will probably do the same thing even if you bought a 2011. Just imagine: IRS, a Mach 1, a Boss, etc.
What I would do is pay down the 2010 as much as you can over the next 1-2 years, and then pick up a 2011 when the rebates come out, or buy a new 2012. The other thing you can do is buy a supercharger and a Brembo brake set. Even if that cost you $6,000-$7,000, that's a fraction of what you'd be rolling over into a new loan with the 2011.
1/27/10, 07:18 PM
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I am sorry but I have to disagree with you about the differences between a 10 and 11. I see there are big differences as:
- 100 more horse and more torque
- brembo brakes (sure, some may say you don't need better brakes. I say say that to me when I am driving at night at 60 mph and a deer jumps out in front of me)
- the track pack is now included
- electronicly assisted steering
- miscel other tweaks like sealing the rear deck lid and under the engine
plus the fact that down the road a 2011 5.0 Mustang will be worth more than a 2010 4.6 and lastly, my 2010 will never be worth more than what it is now in trade.
Sure, if I was daring I could find someone to SC it but I would always wonder if it was done right and worry about the warrantee. I prefer to leave a car stock except for small things like exhaust. Really modding a car by SC is prone to problems down the road I believe. So adding brembo brakes, SC, redoing the suspension, etc just doesn't make sense to me when you add up all the cost, time and trouble.
Oh, one other thing. My 2010 is black with white stripes. It is a very nice looking car and I get comlements everywhere I go. But my dream color is really Torch red and if I ordered a 2011 I could finally have my red car.
Joe
- 100 more horse and more torque
- brembo brakes (sure, some may say you don't need better brakes. I say say that to me when I am driving at night at 60 mph and a deer jumps out in front of me)
- the track pack is now included
- electronicly assisted steering
- miscel other tweaks like sealing the rear deck lid and under the engine
plus the fact that down the road a 2011 5.0 Mustang will be worth more than a 2010 4.6 and lastly, my 2010 will never be worth more than what it is now in trade.
Sure, if I was daring I could find someone to SC it but I would always wonder if it was done right and worry about the warrantee. I prefer to leave a car stock except for small things like exhaust. Really modding a car by SC is prone to problems down the road I believe. So adding brembo brakes, SC, redoing the suspension, etc just doesn't make sense to me when you add up all the cost, time and trouble.
Oh, one other thing. My 2010 is black with white stripes. It is a very nice looking car and I get comlements everywhere I go. But my dream color is really Torch red and if I ordered a 2011 I could finally have my red car.
Joe
1/27/10, 07:33 PM
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1/27/10, 07:41 PM
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You bought a 2010 and that's what you should be thinking about, not a 2011. Having buyer's remorse is common. But the only way to get over it is to enjoy what you have.
1/27/10, 07:52 PM
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I am sorry but I have to disagree with you about the differences between a 10 and 11. I see there are big differences as:
- 100 more horse and more torque
- brembo brakes (sure, some may say you don't need better brakes. I say say that to me when I am driving at night at 60 mph and a deer jumps out in front of me)
- the track pack is now included
- electronicly assisted steering
- miscel other tweaks like sealing the rear deck lid and under the engine
plus the fact that down the road a 2011 5.0 Mustang will be worth more than a 2010 4.6 and lastly, my 2010 will never be worth more than what it is now in trade.
Sure, if I was daring I could find someone to SC it but I would always wonder if it was done right and worry about the warrantee. I prefer to leave a car stock except for small things like exhaust. Really modding a car by SC is prone to problems down the road I believe. So adding brembo brakes, SC, redoing the suspension, etc just doesn't make sense to me when you add up all the cost, time and trouble.
Oh, one other thing. My 2010 is black with white stripes. It is a very nice looking car and I get comlements everywhere I go. But my dream color is really Torch red and if I ordered a 2011 I could finally have my red car.
Joe
- 100 more horse and more torque
- brembo brakes (sure, some may say you don't need better brakes. I say say that to me when I am driving at night at 60 mph and a deer jumps out in front of me)
- the track pack is now included
- electronicly assisted steering
- miscel other tweaks like sealing the rear deck lid and under the engine
plus the fact that down the road a 2011 5.0 Mustang will be worth more than a 2010 4.6 and lastly, my 2010 will never be worth more than what it is now in trade.
Sure, if I was daring I could find someone to SC it but I would always wonder if it was done right and worry about the warrantee. I prefer to leave a car stock except for small things like exhaust. Really modding a car by SC is prone to problems down the road I believe. So adding brembo brakes, SC, redoing the suspension, etc just doesn't make sense to me when you add up all the cost, time and trouble.
Oh, one other thing. My 2010 is black with white stripes. It is a very nice looking car and I get comlements everywhere I go. But my dream color is really Torch red and if I ordered a 2011 I could finally have my red car.
Joe
Hope thats helps you feel a little better.
Last edited by bustacrab; 1/27/10 at 07:55 PM.
1/27/10, 08:11 PM
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Agree to disagree.
NADA doesn't even offer comparable pricing of included options... They're way too vague. And every dealer I've ever used chooses Kelly Blue Book, even for court and legal precedings- KBB is used.
Compare any 2 cars and I'll bet the numbers aren't 25% off... And that KBB is more in line.
NADA doesn't even offer comparable pricing of included options... They're way too vague. And every dealer I've ever used chooses Kelly Blue Book, even for court and legal precedings- KBB is used.
Compare any 2 cars and I'll bet the numbers aren't 25% off... And that KBB is more in line.
1/27/10, 08:17 PM
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KBB thinks a loaded 2007 Mustang GT coupe is worth $23,000. LOL
Little options don't add squat. Only major.
You're right though, dealers use it to PRICE their cars since it is redicuously high!
Little options don't add squat. Only major.
You're right though, dealers use it to PRICE their cars since it is redicuously high!
Last edited by ttgt500; 1/27/10 at 08:18 PM.