How much should my initial offer be for this car? - Mustang Evolution

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Old 08-18-2009, 08:15 PM   #1
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How much should my initial offer be for this car?

The car i am looking at is a 2003 Mustang GT. It has 63000 miles, leather, mach stereo and is an automatic. THe car is in good running condition. The only real problems are, there is a good size crack in the windshield, and it desperately needs new tires. I have researched and its gona cost approx. 2oo for the windshield and no more than 500 for tires. What should my opening offer be if the seller (private seller) is asking 9000? Im looking to pay no more than 8600 or 8700.
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Old 08-18-2009, 09:14 PM   #2
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How much should my initial offer be for this car?

According to NADA, the "clean" trade-in value on this car is $8,825, while a "clean" retail sale would go for $10,650.

However, with the problems you list, it's far from "clean." Average trade-in on this vehicle is listed at $7,975. NADA's definition of "average" is a vehicle that might need significant reconditioning before it would be ready for "clean" retail sale.

Knowing what we know about the economy and how slowly cars are moving these days, I wouldn't be afraid to offer to guy $8,000 or walk away. If you're willing to go higher than that, offer him $8,500 and tell him he would get a much worse offer from a dealership if he were to try trading it in for a new car-- reminding him of the condition of the tires and windshield.
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Old 08-18-2009, 10:09 PM   #3
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How much should my initial offer be for this car?

These cars are selling at auction between $4,645 - $7,290. So, $9,000 is very high especially since it won't pass inspection. Make sure you run a carfax and have it checked out by a mechanic. You might have to pay $100 to get it done, but better safe than sorry if you're serious about the Mustang. Find out exactly what it needs to pass inspection, deduct that from his asking price and negotiate from there. if you pay $8,700 and then put another grand into it, you paid way too much. Look around, hop on auto trader and don't be afraid to travel to if you find a nicer car and better deal.
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