1998 GT 4.6l value - Mustang Evolution

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Old 05-17-2014, 12:07 AM   #1
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Question 1998 GT 4.6l value

Sorry don't know if this is right place to put this forum..


my question is the value of 1998 mustang gt.

It is stock engine 4.6l Sohc I bought it for 3500 , thinking it was good buy but I had to put a rebuilt automatic tranny in costing about 1800 dollars. People said I got ripped off , I would just like ur opinions.

Body is good condition no damage and has vinyl interior , 17" alloy wheels
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Old 05-17-2014, 01:01 AM   #2
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How many miles? And any mods to the car?

For a reference, I paid $3500 for my 1998 Mustang GT Convertible with a stick, ~125k on the clock. It had a blown trans, a spun bearing, and pretty much everything needed to be replaced. (I didn't know of the spun bearing at the time of purchase). And that was four years ago.

The price will vary but $3500 is a pretty mid range price for an SN95. They usually run between $2000 for a total piece of crap to $6000+ for pristine ones. I wouldn't say you got ripped off if it's a decent condition GT.
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Old 05-17-2014, 01:11 AM   #3
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Thank you.

I know the true value is what I think but I just wanted the piece of mind knowing I wasn't ripped off . Also my carrier bearing wear shot but car seems to run great now after all the repairs.
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Old 05-17-2014, 01:31 AM   #4
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143000 no mods just maintence like brake pads
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Old 05-17-2014, 08:39 AM   #5
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If the previous owner new the tranny was bad, then you got ripped off.

If the tranny was fine when you bought it, and just happened to go out shortly afterward, then ***** happens... and according to kbb.com (FWIW), you paid a couple hundred more than what it was "worth".

At that age and milage, anything can happen and a tranny going out is just part of the risk involved in buying a car like that.

$3500 is not alot of money.. if you got a car you like then dont worry about it.
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Old 05-17-2014, 08:46 AM   #6
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That car would be worth $3000, maybe $3500 in absolutely pristine condition. From the sounds of it, it wasn't worth anything close to $3000.

You got screwed.
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Old 05-17-2014, 09:56 AM   #7
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That car would be worth $3000, maybe $3500 in absolutely pristine condition. From the sounds of it, it wasn't worth anything close to $3000.

You got screwed.

+1 that's exactly what I was thinking.
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Old 05-17-2014, 11:43 AM   #8
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Now its worth around $3k in excellent shape as Ish said. You probably will have a hard time getting that though because it is NPI and automatic. Only thing you have going for you is the new rebuild. If the shop rebuilt that trans with all the updated stuff they are supposed to (that goes in the 4R75w) then it is a pretty stout trans in there now. You'd have to check with the shop.
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Old 05-17-2014, 11:44 AM   #9
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The trans broke on my part but was definitely about to brake soon probably.

I look at kbb and in my area said it was worth 4200 and I thought 3500 was reasonable from used dealer and the other dealers and private party sell their 96-98 for about 5700 average and they sell.. But I just wanted the intrinsically value I mean people put more money in car then it's worth anyways. Lol
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Old 05-17-2014, 01:03 PM   #10
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What were you doing? Neutral drops or something?

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Old 05-17-2014, 01:20 PM   #11
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Trans was slipping into 2 just accelerated too quick and from that point the car wouldn't engage in 1 or 2 now it works good
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Old 05-17-2014, 01:21 PM   #12
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Then it wasn't your fault at all. If it was like that when you bought it you got hosed.

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Old 05-17-2014, 01:27 PM   #13
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I found a 96 gt with 89k milage and manual trans. For $4,000 is that a good buy? Body is like a 9/10
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Old 05-17-2014, 02:14 PM   #14
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1998 GT 4.6l value

You guys are acting like he got taken to the cleaners- he didn't.

We all know the price of every mustang goes up at the beginning of summer. Something to keep in mind.

Also, the price in his area is different than the price in yours. For example, I've been searching for a roller fox body and in Indiana/Ohio, a roller fox is on average $500-$1000 unless heavily built. In Illinois where I'm from, people want $1000-$2000 for their roller foxes.

$3500 for a stock car is reasonable. Modding your car decreases it's value. Most people don't want to buy a car that has already had everything modded on it. If the car has minimal rust and a decent body, even better
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Old 05-20-2014, 03:36 PM   #15
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Quote:
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The trans broke on my part but was definitely about to brake soon probably.

I look at kbb and in my area said it was worth 4200 and I thought 3500 was reasonable from used dealer and the other dealers and private party sell their 96-98 for about 5700 average and they sell.. But I just wanted the intrinsically value I mean people put more money in car then it's worth anyways. Lol
Nobody uses KBB anymore.

Banks and others use the NADA value.
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Old 05-20-2014, 03:50 PM   #16
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Quote:
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Nobody uses KBB anymore.
Banks and others use the NADA value.
I beg to differ. KBB is about the only place where you're going to get a reasonable price for any car more than 6 years old. Banks and others subscribe for NADA's service and will rarely finance anything older than 6 years with anything but a signature loan which requires top credit numbers.
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Old 05-20-2014, 05:52 PM   #17
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My credit union will. So will usaa

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Old 05-20-2014, 06:49 PM   #18
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I beg to differ. KBB is about the only place where you're going to get a reasonable price for any car more than 6 years old. Banks and others subscribe for NADA's service and will rarely finance anything older than 6 years with anything but a signature loan which requires top credit numbers.

Lol this is very inaccurate. It's not rare nor uncommon. You just get higher rates. As long as the collateral/credit score is there the bank will normally do it. They go off of nada loan value, not kbb.
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Old 05-20-2014, 07:15 PM   #19
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Yep, I'm currently a 2.3% on a 2001 I got used that is about to be paid off. 3 year loan in 2011. If your bank won't give a loan it's because they suck or the person's credit does or both.

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Old 05-20-2014, 09:36 PM   #20
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Yep, I'm currently a 2.3% on a 2001 I got used that is about to be paid off. 3 year loan in 2011. If your bank won't give a loan it's because they suck or the person's credit does or both.

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Did you put up your car for collateral?
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Old 05-20-2014, 09:42 PM   #21
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Normal used car loan. Went to the bank, they get the title, I put full coverage on it. Standard operating procedure.

I've already inquired about an older car, a Terminator specifically. They say as long as the loan is not over their book value they'll give me whatever interest rate I qualify for which will be in the mid 2% range with my credit. Navy Federal Credit Union and they=teh rockzor.
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Old 05-20-2014, 11:06 PM   #22
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Normal used car loan. Went to the bank, they get the title, I put full coverage on it. Standard operating procedure.

I've already inquired about an older car, a Terminator specifically. They say as long as the loan is not over their book value they'll give me whatever interest rate I qualify for which will be in the mid 2% range with my credit. Navy Federal Credit Union and they=teh rockzor.


Sorry, I guess times have changed quite a bit. I haven't bought a used car in a very long time.
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Old 05-21-2014, 01:06 AM   #23
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I got approved for my first loan . Didn't apply for car loan just a small loan its easier they won't ask for collateral.

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Old 05-21-2014, 06:30 AM   #24
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Sorry, I guess times have changed quite a bit. I haven't bought a used car in a very long time.
Yeah I am trying to figure out if I'm going to finance a car again actually. My car payments are both going to drop off in the next 1-2 years and its going to be real nice having that disposable income.

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I got approved for my first loan . Didn't apply for car loan just a small loan its easier they won't ask for collateral.

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You will always get a ridiculously lower interest rate if you do the traditional car loan. Yeah you can just put liability insurance on a car not used as collateral but that is REALLY rolling the dice because if you crunch it up and its your fault now you not only don't have a car but you are still paying on it.
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