These cars were $30,000 brand new and in just three years they've lost half their value. Even 2005 honda civics sell for more than this. Btw this isn't the only one for the price I've found. Several are selling in the 15-16k range. Maybe because the market is flooded with them since gas prices are so high.
look at the mialage...thats well over 100 000 kms....thats alot for a 05....must be all highway which isn't bad at all...i just picked mine up for 19000$ with 26000 kms on it.....but cars up here in canada are generally more money...i don't know why considering are dollar is doin better then the US dollar..
Same thing happened back in the early 70's when the oil embargo came to town.I remember my step-dad got a hugh discount on the 73'Mach 1 w/351 he bought new.He still has a lead foot.
_____________________________
07'Grabber Orange GT Interior Upgrade Comfort Group Gt Appearance Package Premier Trim Package CS bumper upgrade
It may also have to do with the availability of other muscle cars on the market that weren't there previous years.
Not on-topic, but I find it ironic to pay $20k-$30k for a car and then worry about an extra $20-$30 per week for the enjoyment of driving it while dumping $100's if not $1,000's into mods at the same time.
< Message edited by Nuke -- 3/8/2008 7:00:38 AM >
_____________________________
Rick 07 GT Prem, Alloy, MT, 3.55s, Steeda CAI/Xcal2 w/Brenspeed tunes, 14" shorty, 275/40/18 Goodyear Eagle F1 Allseasons on SVT 2007 Cobras, FRPP Stingers
Posts: 2859
Joined: 4/26/2005 From: Babylon, NY Status: offline
Yep, unless it's a GT500. or GT supercar, it's still 'just a Ford'. American makes will lose 45-60% of their value at 3yrs. Of all the Japanese brands, Honda(yes, more than Acura) and Lexus, seem to hold their value the most, at about 50-54% residual value at 5 yrs.
Of the German brands, BMW seems to hold its value the most, at about 42-45% residual at 5yrs.
_____________________________
05 GT Vert Auto, Saleen S/C 10psi VMP tune, Roush springs,D-Specs,Steeda LCAs,Swaybar,Panhard bar & brace,Spydershaft,TruTrac,3.73,BBK shortys,Corsa A/B.
I've noticed this too seeing GT's for as low as 15k myself, not low milage (60k) but still amazing how its half the money Jeez!!!! At least we've enjoyed our cars the past couple of years while the new buyers havent. lol
_____________________________
06 Vista Blue GT 5-Speed C&L CAI, Steeda Strut Tower Brace, UDPs, LCAs Flowmaster American Thunder, FRPP 4.10s Hurst Shifter, SCT w/ BRENSPEED Tune
It's easy to find low mileage 2005+ GT for $15k to $20k. It's always been that way. In fact, I'm surprised it doesn't dig into new V6 sales.
It doesn't help GT resale value that the GT was outselling the V6 model from the time the S197 was released until very recently. It's still very close to 50/50. Previous Mustang generations were about 70% V6 and 30% GT.
"...Over the last few years, 52-percent of 'Stangs came with the 4.6-liter V8, but rising fuel prices and the fact that enthusiasts bought early has brought that number back down to 45-percent, so Ford will be reducing the number of 2008 Mustangs it builds with a V8..."
Another thing that impact sales are sheer volume. The Mustang is the number one performance seller in the US. I'd guess they've sold around 450k to 500k S197 already. About 50% are V8's. That means there are at least 225k S197, V8 Mustangs on the road.
It's low by Accord or Camry standards but very high by performance vehicle standards. For example, I think 250k Corvettes were sold between 1997-2004. A victim of it's own success!
< Message edited by wmtheflash -- 3/8/2008 8:43:26 AM >
Actually, because it's so easy to replace practically every part in your Mustang--and because they are so easy to work on--I've found Mustang's to be quite cheap over a ten to fifteen year period.I think it has to be easier to get a replacement carpet (for example)--and install it--in your stang than in a Subaru or BMW. I know a few people with early 1990s Mercedes and Jaguar cars with less than 30k miles on them. They look really dated compared to a classic mustang. I'm keeping my 05 GT for the long haul.
WTF did you guys think you were getting? That's why these cars make perfect weekend cars. I sold my 2002 GT in Dec 2006 for $16k because it had low miles. I bought it for $23k in Oct of 2001 so a $7k loss isn't that bad IMO. My s197 will be around for as long as I'm alive so I don't care about value. I have other cars for that..
_____________________________
Whipple Crew Member
468whp 463 lb/ft tq 2007 Black premium GT BMC member #07208
You just have to look at cars as analagous to a really expensive computer. There's going to be something 'better' in a year or less and what you bought isn't going to be as extrinsically valuable.
How you feel about the car, on the other hand, has immense value. This is why I plan on keeping mine.
I haven't found build quality on foreign (can they really be foreign if they're made here in the U.S.?) cars to be all that much better. Not really sure why there's so much negative connotation with American car companies. Unless you've happened to have a lot of negative experiences with them. *shrug*
_____________________________
05 Redfire GT Mustang, No extra goodies :( 06 Scion Xb (The wife's)
The bluebook value is insignifcant on these cars. Take your car to carmax and tell them to give you bluebook trade in on it. They'll laugh you out of the dealership.
The actual value is about $1500-$2000 less than bluebook. That's because of this online boom where people buy cars online and fly on an airplane to get them. People list their car $1000 below bluebook as it is for a quick sale. Then they get talked down another $1000 and accept because they want to get rid of it. Then everyone else has to drop their price because people are buying it for the cheapest price available.
I can't imagine that you could sell an 02 GT for 16k no matter how low the miles are. If you did, you got lucky. 02 GTs with 50k miles sell for $8500 today.
2008 Shelby GT500 Ebony Black with White Stripes/Crimson Red Leather Premium Trim/Shaker 500 with Sirius Radio SCT 93 Octane Performance Tuned 468 rwhp and 444 rwtq
These cars were $30,000 brand new and in just three years they've lost half their value. Even 2005 honda civics sell for more than this. Btw this isn't the only one for the price I've found. Several are selling in the 15-16k range. Maybe because the market is flooded with them since gas prices are so high.
I paid $24,000 for a new 2007 GT. That $30,000 your using isnt a realistic price. That was the "Ive got to have it while its HOT" price.
This is about what I would expect to get out of my 2007 in the used market. 2008 - 10,000 mi - $20,000 2009 - 25,000 mi - $18,000 2010 - 40,000 mi - $16,000
Thats about $4000 loss the first year and $2,000 a year after that.
You never buy a new care based on economics as its always a losing proposition.
Posts: 1562
Joined: 7/5/2006 From: New Orleans Status: offline
Only people with more money than sense paid $30,000+ for GT coupes in '05 and '06. I bought my '06 GT brand new with every option except for shaker1000 and paid only $25,000. I knew when I bought it that the value would plummet after a couple of years, but I'm in the habit of modifying my vehicles, so I'm used to losing money through cars.
_____________________________
Whipple Crew-10psi-Spec II-BMR LCAs-Granatelli sway bar delete-Spydershaft-M/T 26x11.5x17-Hurst-Prothane Mounts-PMP Line locks-Flows-Thump_rrr-Moroso separator
I'm trying to trade in my car for a manual, but I'm not getting more than $15,000 as a trade in value for my car! I got it a year ago for $21k. Second owner.
Printable Version
Wow GTs have really lost their value - 
