went to the local Ford dealer in town, who is the only high performance dealer, to look at a beautiful GT500, white with blue stripes. All options except GPS. I wanted to trade in my lightning and my roush in on it. They are in mint condition (04 lightning with 45,000 miles highway) and (03 Roush stage 2 with 24,000) black L and white roush with blue stripe. They give me the usual talk and even offered to let me test drive with a dealer as passenger. I asked that they apraise my vehicles first for trade-in offer. The guy comes back with the GM after 30 min and say's and I quote "we can offer you 15,000 for the L and 11,500 for the mustang. I looked at them for a minute and said "you two are so full of SH*T, it's running down your leg and walked out with the GM running after me. My question is, is this the best I can get and were they being realistic in their offer? sorry for the long post.
Gt 500
- Thread starter cobrkilrl
- Start date
I dont mean to be a dick when i ask this.....but have u
looked @ ford stock latley? and see how much gas cost?with ford going bankrupt, and no market for gas guzzlers and v8's. the value of 4 cylinder trade ins go up, and trucks and v8's which both of ur cars are there values go down, and they always rip u on a trade in!
sell both ur vehilces on ur own and buy the gt500. I mean my car I prob would get $20 and a double cheese burger off the dollar menu for trade in :uh oh::nonono:
to make you feel better, I had a friend with a 2001 silver twin turbo saleen 540rwhp and like 30k into it easy, and he traded it in on a subaru wrx sti for a winter car, because he has 2 other mustangs, and the dealers trade in was like $11k also
:cryying:
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Same scenario I had with a dealer. I was looking at a gt500 and wanted to see a trade for my cobra. it has 54k on it but is in cherry condition. Unfortunately, all they were offering me was 13k for my 03 cobra. I stood up, and walked out without saying anything. I am not about to pay 40k for slower car then mine and let them hose me for a car I have cherised for 6 years.
I just bought an 02 F-150 Harley Davidson with 18k miles for $17k. Normally it would have been in the low to mid 20s. Markets not doing so hot ya know?
sell them on your own
I was thinking about the same. I saw a nice black on black GT500 with no stripes in my town and was thinking about trading in my car. Then i realized that i just payed my car off and probably wouldn't get shit for my car on trade in even thoughit only had 17K on it. Especially since it would be paying more money for a slower car. But you always get hosed on trade-ins especially in this market.
I like the 03/04 Cobras much more than the Shelby's. I think all the hype about not being able to get one made them so desired. When ever I want one I will have to go out and fine one to beat down with my Whipple. I just hope I don't run into a KB or Whippled Shelby or I am in some trouble!
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Bought my white w/blue striped GT500 in april. Traded my 03 cobra with 56,000 miles. they gave me $19,000 for the 03 cobra and $1,000 off MSRP for the Shelby. i could'nt pass up this deal. My pullied 03 was faster but, Iam just getting started with the Shelby. I think the Shelby is an overall better platform imo.
What you have to remember is they don't exprect you to take that amount, they want you to negoitate with them and try to get you to the lowest amount you will take. They aren't going to offer you 20 grand for your cobra right off the bat.
You also will not get bluebook, the most a dealership can give you is wholesale value, which is what they will get for it at an auction. They won't give you anymore, that doesn't mean they won't show you more on paper.
The dealership has a certain amount of "profit" in a car deal. They can take money out of the margin in the car they sell you and show you more for your trade, but that doesn't mean you are actually getting more for your trade.
They also make money off interest, they will show you a 12 percent interest rate in the quote when in fact they are able to approve you at less so they can take money off the car or put more in your trade to make you happy.
They try to be slick with all this shit and make your car look like it is less than it really is and focus on how great their car is. If you want to get the best deal, take your time and sell your L and stang private party, get you own financing and negotiate the hell out of their car... Or better yet buy a used GT500 with low miles.
You will never win at the dealership unless they have a car on the lot that has been there for a VERY long time.
Goodluck
You also will not get bluebook, the most a dealership can give you is wholesale value, which is what they will get for it at an auction. They won't give you anymore, that doesn't mean they won't show you more on paper.
The dealership has a certain amount of "profit" in a car deal. They can take money out of the margin in the car they sell you and show you more for your trade, but that doesn't mean you are actually getting more for your trade.
They also make money off interest, they will show you a 12 percent interest rate in the quote when in fact they are able to approve you at less so they can take money off the car or put more in your trade to make you happy.
They try to be slick with all this shit and make your car look like it is less than it really is and focus on how great their car is. If you want to get the best deal, take your time and sell your L and stang private party, get you own financing and negotiate the hell out of their car... Or better yet buy a used GT500 with low miles.
You will never win at the dealership unless they have a car on the lot that has been there for a VERY long time.
Goodluck
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That is exactly what I would do. No way I would trade them in unless they had issues that I would rather the dealer fix. In this market a dealer is going to rape you on a trade like this. JMO.
Bob absolutely hit the nail on the head! You only want to trade in if there are serious issues that you can't or don't want to fix (like serious emission problems, major engine or trans trouble, or if you know for sure it will not pass inspection). Otherwise, you are never in a good position trying to trade in. Besides, like someone else mentioned... even if they tell you they are "giving you" 20k for your car, in all actuality, it will be 15k, or less by the time they hose you with all of the hidden fees, interest, etc. I'd love to have a GT500, but there is no way, I fell it is worth the difference in price from my vert to make it worthwhile, so I guess I'll just hang on to it for now.:burnout:
That's the current state of the market. They don't want to sell a car and have to turn around and sell another car just to make their money. Plus you should be able to sell it for way more then they'll ever give u and by then the GT500 will have come down in price.
when i was looking into trading my '01 cobra vert last year i had one dealer give me a trade in value of $7500, i laughed. within 20 minutes they went up to 14k on trade. just goes to show you how much of a raping they go for.
they also tried playing the "how much do you want to spend a month" trick. having already crunched the numbers i gave them an amount which equaled what i wanted to pay for the car. they came back and said, "we can do that". then i asked them the length of the term and he told me 96 months. i laughed in the GMs face and walked out. that would have been more then the asking price of the vehicle if i had bit.
they also tried playing the "how much do you want to spend a month" trick. having already crunched the numbers i gave them an amount which equaled what i wanted to pay for the car. they came back and said, "we can do that". then i asked them the length of the term and he told me 96 months. i laughed in the GMs face and walked out. that would have been more then the asking price of the vehicle if i had bit.
Just bought from, a private, a 03 L for $ 19 000 with 16 000.
A dealer was selleing a 04 L for 24 999 with 32 000 miles
A dealer was selleing a 04 L for 24 999 with 32 000 miles
Another thing to remember. When you discuss numbers with a dealer, they almost always ask if you have a trade. But they don't like to talk about how much is coming off the sticker. It is always about what you want to pay per month. That is how they keep themselves in the bargaining driver's seat. And if they say they're going to give you a bit more on the trade, guaranteed they're also taking less (if anything) off the sticker. So they're in win-win position. What you SHOULD do is sell the car private and when you visit the dealer tell him right away that there is no trade and then discuss sticker discounts. Also, if you're going to finance try to get pre-approved at a rate that would be equal to or better than the dealer. That allows you to pressure the dealer more on a deal in your favor because the financing (monthly payment) isn't even in the equation since you're pre-approved. Best is when you walk in and tell the dealer you're paying cash. Then you're simply looking for the best deal on the sticker. Just some things to consider. Remember, though, that credit today is tough, which might give the dealer some leverage if you can't get credit elsewhere. Your goal should be to put yourself in the best bargaining position.
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