Bought a used GT500 & Need Advice
 

I just bought a used 2007 GT500 from a guy in Chicago. It appeared to be a very good ebay deal, but here's what happened. I took Amtrak from Lansing, MI to Chicago on Saturday. The 4 hour trip took closer to 8 hours by the time I arrived. We met and I had about 30 minutes to check the car out as we drove to a bank that was closing at 4:00. The clutch was slippping BAD!!! The seller showed me TSB #08-16-4 about clutch drag on GT500's. He said that's the problem and it should be covered under warranty. I also pointed out a noise which sounded to me like a bearing in the differential which only showed up under coast and decel. We agreed to have me hold back $1,500.00 on the sale price in case Ford doesn't warranty the repairs needed. We wrote an admendment to the sales agreement to include this repair agreement.

At the bank (which was holding his title & lien due to his outstanding loan), they said they had to put a 5 day hold on my Cashier's Check to be sure it clears before they can accept the funds as good and allow him to pay off the loan for release of the title. He put the Cashier's check on deposit for his account to wait the 5 business days.

After we left the bank, we went to his house, he removed his license and I left for home. On the way home the clutch slipped so bad that I could not maintain cruising speed on some hills. I noticed a vibration & noise from the differential (I think) at about 75 mph. I did make it the 200 miles home.

I checked the car our further in my garage today and noticed it has an oil leak as well. BTW, the seller told me that the GT500's didn't come with a spare tire due to the brake size. A spare tire wheel would not clear the front brakes. Is that true? Also, is there a special key or socket for the lugnuts?

I guess the old addage of "buyer beware" applies to this sale, huh?:shrug:
I plan on calling a local Ford Dealer to see about repairs on the clutch, differential and oil leak tomorrow. Any advice from anyone with experience with a GT500 in any of these problem areas is appreciated.

Thanks

Sorry to hear this.
 

How many miles are on it?

There have been known clutch and rear end problems. TSB or not, THAT GT500 sounds like it has been TRASHED on. Sounds like the guy couldn't drive a clutch and burned it up. I hope you got a really good price.

I have about 5000 miles, many of them very hard, on my 2008, and the clutch and rear end are still like new.

If your ford dealer gives you trouble, contact SVT not Ford directly.

Yeah, I guess the old adage of "buyer beware" really does apply to this sale
Good Luck.

I'm surprised you went through with the deal, I think I would have walked away... as mentioned there are known clutch and Diff issues, I hope they are covered for you because $1500 might cover the parts...

I'm with that guy. Of course you know this now, so I hope everything works out for the best!

PrincipalPony:

Sorry to hear about the problems you are having with your newly aquired GT500...

As far as the clutch slipping, there is a TSB from Ford that would fix the problem...but there are some restrictions...Your car has to meet a certain criteria. It also has to do with your vin number. Need to go to your local dealer and have them check your vin number...also, if the clutch is slipping because the car/clutch was abused they may not cover it...

How many miles are on the car?

The total cost of the TSB costs about $5,000...something to think about.

You can find a lot more info on this problem by doing a search in this forum.




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i am assuming you got a very sweet deal on the car to accept it with those problems. i know a local guy had trouble with his clutch slipping, he contacted the SVT rep at the dealership and they fixed it under warranty. Hope all goes well

Is it the rear main seal leaking onto your clutch thats causing it to slip? I just ask because I came across this once. Oil on the fly wheel and clutch. Had to replace Seal and a new clutch setup.
I hope it all works out to be good.

That is true, it should come with a inflator/tire sealant in the trunk, I added a pic

Congrats on your new shelby!

Thanks for the replys so far. The car has 21k miles on it. As Rarecat stated that he would have walked away from the deal - I almost did. I didn't because the seller did present himself well, the car looked sweet, and I would have had to spend the night in Chicago and hopefully catch a train back home the next day. I think it was my dream of owning a Shelby more than anything else that caused me to proceed with the deal.:banghead:

I talked to a dealer today who told me that even though he isn't an SVT dealer, he could still do the warranty work on it, no problem. He had concerns about the clutch being the problem referenced in the TSB and said a new clutch could run over $1,200 (price of a GT clutch).

I may be able to stop payment on the cashier's check to renegotiate the deal, or deduct the actual cost of repairs from the sale price. The sale price we agreed on was $32,500 for a car he described as a 9/10 on a 1-10 scale. The check I gave him was for $31,000.

One other problem, the radio doesn't seem to pull in radio stations very well. It's a Shaker 1000. Anyone else have a problem with that?

Thanks again for all your help.:nice:

would the car be white with blue stripes?

Good question. I know the car your are thinking of.

I know exactly what car both of ya'll are thinking of. Does it have painted side skirts?

someone here?

Yes, it is white with blue strips painted on, painted side mirrors, tinted windows... need I go on? Do you have more info for me on this car? How bad was it abused? Would recommend I try to get out of this deal anyway I can, or just plan on substantial repairs?

BTW, I just dropped off the car at the Ford Dealer. The service manager will call me tomorrow after they check it out to let me know if they will warranty it or not.

anyone have a link to this car on the forums?
apparently it is well known around here...

Ok, here's the link to the ad he had on ebay. See if this is the one you're talking about.

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=140277522068

I changed out to 3.73 gears and there IS some whine and noise over the stock......Mine has been adjusted a couple times. Some adjustment on the shims inside may minimize the worst of it. As the previous owner said the clutch /flywheel/ trans issue has been widespread and should be covered under the TSB. I was in Dearborn this year at a meet and met the engineer that redesigned the flywheel.....Which is the cause of most of the problem,and he felt that most of the 07's would fail over time. I have 14000 and so far so good. Good luck ,even with the issues you have these are fantastic cars for the money .

I would get the bank to hold your money, here's one of his videos btw.... Shelby GT500 FLY-BY WOT with stainless works long - Video
Shelby GT500 FLY-BY WOT with stainless works long - Video Car was abused.

I will send you a PM on that one!!!!!

(more then you want to know)

Wow, stalls twice trying to do a single burnout. Can't imagine why there'd clutch problems. :shame: That sucks seeing your car abused like that.