Is this a good deal - potential 14 GT owner - Mustang Evolution

Go Back   Mustang Evolution > 1979-2015 Mustang GT || Tech and Talk > 2011-2014 Mustang GT



Reply
 
Thread Tools Search this Thread
Please support our sponsors and let them know you heard about them here!
Old 11-25-2014, 01:15 PM   #1
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
Is this a good deal - potential 14 GT owner

Hey guys, I curently have a 14 v6 with approximately 43K kms (~27K miles) on it. I went to my ford dealership yesterday to get some numbers on trading in my sixer for a 14 GT with approximately 11K miles (18K kms), navigation, glass roof, and aluminum rims ($1200 option from factory). Clean history, and it was a rental car. Ater haggling around with the price, they said they will take my car for CAD $20K and sell the GT for CAD $33,400. After the trade, I will still owe about $4K to the bank I financed it through.

Basically after all the taxes, fees and a $3k down payment (they gonna add the rest 1500 bucks to my loan), it's coming to CAD $220 biweekly payment. Loan term 7 years, amortized over 8 years @ 5.74% APR. I'm curently paying $173 biweekly on my sixer. The insurance is gonna be $25 more per month on this GT.

Is this a good deal i'm getting? My sixer was an impulse buy and I paid way too much for it ($32K CAD, with no rebates or discounts at that time). I didn't mod my v6 too much knowing that I'm gonna get a GT eventually but now that I'm process of getting one, is it a fair price for what I am getting? Please help a brother out

|| ~BlackOnBlack~ ||
bazinga11 is offline   Reply With Quote
Sponsored Links
Advertisement
 
Old 11-25-2014, 01:54 PM   #2
Registered Member
Regular
 
Saleen90's Avatar
 
Join Date: May 2014
Location: Northern Virginia
Region: Alabama
Posts: 69
I'm thinking that's too much for their asking price. Seems to me that a 14 gt with those miles on it should be somewhere around 27 or so. I'm not an expert on pricing though. And you're gonna get sick of making those payments for that long. 7 years is a long time.


Sent from my iPhone using Mustang Evolution
Saleen90 is offline   Reply With Quote
Old 11-25-2014, 02:32 PM   #3
Registered Member
Regular
 
Yankee5.0's Avatar
 
Join Date: Jul 2013
Location: Los Angeles California
Region: California
Posts: 82
Yup true it is 2years ago I traded my 2007 gt for a new 2012 5.0 got it for 25k n nothing on down payment the car was brand new plus my 07 gt only had 35k miles


Sent from my iPhone using Mustang Evolution
Yankee5.0 is offline   Reply With Quote
Sponsored Links
Advertisement
 
Old 11-25-2014, 02:46 PM   #4
Registered Member
Regular
 
white14v6's Avatar
 
Join Date: Jul 2014
Location: Guys
Region: Tennessee
Posts: 163
That price does seem high.
white14v6 is offline   Reply With Quote
Old 11-25-2014, 03:04 PM   #5
Registered Member
Regular
 
WhiteCali5oh's Avatar
 
Join Date: Jun 2014
Location: Beckley
Region: West Virgina
Posts: 1,396
I paid 34k for my 2014 California special. It's the premium car brand new man that seems a little high. Also got 0%for 5 years. Only put 2k down on it just because I was upside down on my trade in


Sent from my iPhone using Mustang Evolution
WhiteCali5oh is offline   Reply With Quote
Old 11-25-2014, 03:06 PM   #6
Registered Member
Regular
 
WhiteCali5oh's Avatar
 
Join Date: Jun 2014
Location: Beckley
Region: West Virgina
Posts: 1,396
And I got mine in like may or something


Sent from my iPhone using Mustang Evolution
WhiteCali5oh is offline   Reply With Quote
Old 11-25-2014, 03:17 PM   #7
Registered Member
Regular
 
DiESeven's Avatar
 
Join Date: May 2014
Location: Richmond
Region: Virginia
Posts: 1,909
What is your car? Got a vin to look at window sticker? Idk if they're ripping you off or not cuz we have no info on your car.
DiESeven is offline   Reply With Quote
Old 11-25-2014, 03:18 PM   #8
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
I looked at the sticker price for this GT, it was $49K brand new without any rebates. With employee pricing discounts and such, I'm guessing it would have been $42K. Also, the price in Canadian dollars, so $33k asking price could be $30K USD give or take. And also the fact that cars are little expensive here in Canada than US. Heck a gallon of milk costs me $4.60, and just across the border it is $3 after currency conversion lol

I have been looking around on Craigslist for used GTs for a really long time. These new ones don't seem to go below 32K in my area. There are few cheaper ones in other states ($26k, 42K kms and stuff like that) but they're too freaking far. Not worth the drive during a Canadian winter. The other thing that's killing my trade in value is the mileage on my car.

|| ~BlackOnBlack~ ||
bazinga11 is offline   Reply With Quote
Old 11-25-2014, 03:20 PM   #9
Registered Member
Regular
 
WhiteCali5oh's Avatar
 
Join Date: Jun 2014
Location: Beckley
Region: West Virgina
Posts: 1,396
Go to a dealership and don't mention the trade first of all. Then you'll have numbers my friend. Then when u get to a price you like. You throw the trade in on them. That's how I do it. My dad taught me haha.


Sent from my iPhone using Mustang Evolution
WhiteCali5oh is offline   Reply With Quote
Old 11-25-2014, 03:21 PM   #10
Registered Member
Regular
 
DiESeven's Avatar
 
Join Date: May 2014
Location: Richmond
Region: Virginia
Posts: 1,909
I meant your car. The 2014 v6.
DiESeven is offline   Reply With Quote
Old 11-25-2014, 03:21 PM   #11
Registered Member
Regular
 
WhiteCali5oh's Avatar
 
Join Date: Jun 2014
Location: Beckley
Region: West Virgina
Posts: 1,396
My car was stickered at like 42k usmoney and I didn't pay near that and I wouldn't understand why one would.


Sent from my iPhone using Mustang Evolution
WhiteCali5oh is offline   Reply With Quote
Old 11-25-2014, 03:24 PM   #12
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
The other factor is high interest rates on used cars. I asked my finance lady how much Apr would it be if I lease it for 4 years. She said $777/mo @ 8.7%. Banks don't offer good rates on premium cars like our mustangs. Even on a brand new mustang, the best rate you can get is 5.25%+ , even though you can find a similarly priced focus with all bells n whistles for 0%

I was told you can get lower interest rates from places with in house lenders, but my dealership doesn't have one. And I just don't trust buying a mustang from a private dealer, who knows what was done to the car and what not. Read the thread about a guy who bough a 4.6 GT with a fried engine?

|| ~BlackOnBlack~ ||
bazinga11 is offline   Reply With Quote
Old 11-25-2014, 03:28 PM   #13
Registered Member
Regular
 
WhiteCali5oh's Avatar
 
Join Date: Jun 2014
Location: Beckley
Region: West Virgina
Posts: 1,396
I got a 0%rate dude for 60 months. And if I didn't use that I could've gotten my quoted 1.9 for 72. Although I have a good score for my credit.


Sent from my iPhone using Mustang Evolution
WhiteCali5oh is offline   Reply With Quote
Old 11-25-2014, 03:28 PM   #14
Registered Member
Regular
 
DiESeven's Avatar
 
Join Date: May 2014
Location: Richmond
Region: Virginia
Posts: 1,909
I say, if you really like the car and everything checks out... and most importantly, you know that you can afford the payments, go make yourself happy!
DiESeven is offline   Reply With Quote
Old 11-25-2014, 03:30 PM   #15
Registered Member
Regular
 
rockhillgt's Avatar
 
Join Date: Mar 2014
Location: rock hill
Region: South Carolina
Posts: 344
It really depends. I'm pay a 1.9% interest rate and I got my 2013 Cali special used.

Quote:
Originally Posted by bazinga11 View Post
The other factor is high interest rates on used cars. I asked my finance lady how much Apr would it be if I lease it for 4 years. She said $777/mo @ 8.7%. Banks don't offer good rates on premium cars like our mustangs. Even on a brand new mustang, the best rate you can get is 5.25%+ , even though you can find a similarly priced focus with all bells n whistles for 0%

I was told you can get lower interest rates from places with in house lenders, but my dealership doesn't have one. And I just don't trust buying a mustang from a private dealer, who knows what was done to the car and what not. Read the thread about a guy who bough a 4.6 GT with a fried engine?

|| ~BlackOnBlack~ ||
__________________

rockhillgt is offline   Reply With Quote
Old 11-25-2014, 03:30 PM   #16
Registered Member
Regular
 
WhiteCali5oh's Avatar
 
Join Date: Jun 2014
Location: Beckley
Region: West Virgina
Posts: 1,396
I've done that before then couldn't pay for the car because they cut my hours.i could pay for it when I signed the papers though but not after the hour cut. Be SURE you can pay your payment with less hours than u work. Get it as cheap as possible.


Sent from my iPhone using Mustang Evolution
WhiteCali5oh is offline   Reply With Quote
Old 11-25-2014, 03:33 PM   #17
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
Quote:
Originally Posted by DiESeven View Post
I say, if you really like the car and everything checks out... and most importantly, you know that you can afford the payments, go make yourself happy!






Quote:
Originally Posted by rockhillgt View Post
It really depends. I'm pay a 1.9% interest rate and I got my 2013 Cali special used.






Quote:
Originally Posted by WhiteCali5oh View Post
I've done that before then couldn't pay for the car because they cut my hours.i could pay for it when I signed the papers though but not after the hour cut. Be SURE you can pay your payment with less hours than u work. Get it as cheap as possible.


Sent from my iPhone using Mustang Evolution
Thanks guys! I'm also gonna go talk to my bank and see if I can get a lower rate through them. I have called around a bunch of ford dealerships to see what the interest rate would be on a used GT, provided I have excellent credit. I got quoted with 6% at the very least.

One those times when I wish I lived in states lol

|| ~BlackOnBlack~ ||
bazinga11 is offline   Reply With Quote
Old 11-25-2014, 03:44 PM   #18
Registered Member
Regular
 
UrMaster's Avatar
 
Join Date: Jul 2014
Location: Morris
Region: Illinois
Posts: 630
Seems high. I'm Suprised nobody mentioned it being a rental? I'd never buy a used sports car that was a rental. It may be a road trip to the states, but if it's a one time deal and saves you thousands imo it would be worth it. Bring up it was a rental as a bargaining chip. And as other stated 7 years is a long time. I'd never go over 6, preferribly 5 though. Them long term loans are a good way to end up upside down easily.

Sent from my SM-N900V using Mustang Evolution mobile app
__________________
2011 GT Premium A6 glass roof.
Dynatech LT's, OR-X, Kooks Axle-back, Circle D 5c, Boss IM, BBK 85mm TB, JLT CAI, BMR LCA's, adj UCA & Panhard,Strange 10 way struts, 331 gears tuned by AED.
UrMaster is offline   Reply With Quote
Old 11-25-2014, 03:44 PM   #19
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
Although on the other hand if i were to buy a beamer/Mercedes, I can get one at a much better rate. Not too many people buy mustangs over here, and I'm guessing this is why they don't offer competitive rates on them.

|| ~BlackOnBlack~ ||
bazinga11 is offline   Reply With Quote
Old 11-25-2014, 03:52 PM   #20
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
Quote:
Originally Posted by UrMaster View Post
Seems high. I'm Suprised nobody mentioned it being a rental? I'd never buy a used sports car that was a rental. It may be a road trip to the states, but if it's a one time deal and saves you thousands imo it would be worth it. Bring up it was a rental as a bargaining chip. And as other stated 7 years is a long time. I'd never go over 6, preferribly 5 though. Them long term loans are a good way to end up upside down easily.

Sent from my SM-N900V using Mustang Evolution mobile app
I did bring up the rental car aspect, and the sales man was like ford inspects every vehicle once it's lease is over with a rental company etc etc. But yeah youre right, I'm not really a fan of long term loans. Just trying to explore my options here.

Also, I did look into getting a car from states. I guess you can find a good used one with low miles for around $25K right? After currency conversion, it be close to $28000ish + 12% taxes at the border and some fee. So around $32K for the GT itself, and not to mention I'm gonna get a shietty deal if I went to go sell my car to a dealer as a private sale given the mileage I have on it + money I'd owe to the bank right out of my pocket. Then comes the next part: finding a bank who would finance a car to be bought from states. Ahhh!!

|| ~BlackOnBlack~ ||
bazinga11 is offline   Reply With Quote
Old 11-25-2014, 03:56 PM   #21
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
Quote:
Originally Posted by DiESeven View Post
I meant your car. The 2014 v6.
I bought my car brand new with a sticker price 34k, got it for 32.5k. It has performance package, heated leather seats, ambient lights, track apps.. All of the premium package goodies

|| ~BlackOnBlack~ ||

---------- Post added at 04:56 PM ---------- Previous post was at 04:55 PM ----------

Quote:
Originally Posted by WhiteCali5oh View Post
Go to a dealership and don't mention the trade first of all. Then you'll have numbers my friend. Then when u get to a price you like. You throw the trade in on them. That's how I do it. My dad taught me haha.


Sent from my iPhone using Mustang Evolution
Haha bro the first thing they ask while giving you a quote is 'do you have a trade in' lol

|| ~BlackOnBlack~ ||
bazinga11 is offline   Reply With Quote
Old 11-25-2014, 04:00 PM   #22
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
Quote:
Originally Posted by WhiteCali5oh View Post
My car was stickered at like 42k usmoney and I didn't pay near that and I wouldn't understand why one would.


Sent from my iPhone using Mustang Evolution
Yeah no one pays that price. This GT had 49K on window sticker, but I'm pretty certain it was sold for around 42-43K given the rebates ford had during the time this car was sold (May 2014 as per carfax report). Let me see if I can find a sticker for it

|| ~BlackOnBlack~ ||
bazinga11 is offline   Reply With Quote
Old 11-25-2014, 04:06 PM   #23
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
Here are the options it has

|| ~BlackOnBlack~ ||
Attached Thumbnails
Click image for larger version

Name:	1416953162595.jpg
Views:	87
Size:	64.4 KB
ID:	170321  
bazinga11 is offline   Reply With Quote
Old 11-25-2014, 04:40 PM   #24
Registered Member
Regular
 
Toydos's Avatar
 
Join Date: Mar 2014
Location: USA
Region: Other
Posts: 245
You are ''up side down'' in your trade, that makes it a BAD DEAL .
__________________
[SIGPIC] My other toy and babe
Toydos is offline   Reply With Quote
Old 11-25-2014, 04:42 PM   #25
Registered Member
Regular
 
Devil Strider's Avatar
 
Join Date: Jul 2014
Location: Colorado Springs
Region: Colorado
Posts: 988
I got my brand new GT in July for 28k.

Sent from my Galaxy Note 3 using Mustang Evolution mobile app
Devil Strider is offline   Reply With Quote
Old 11-25-2014, 04:50 PM   #26
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
Quote:
Originally Posted by Toydos View Post
You are ''up side down'' in your trade, that makes it a BAD DEAL .
That's what I feel, so what would be a fair trade in value for my v6? I have seen new ones at dealerships for $24k premium, and the one I have with performance package at $27K.

|| ~BlackOnBlack~ ||
bazinga11 is offline   Reply With Quote
Old 11-25-2014, 09:52 PM   #27
Registered Member
Regular
 
Laquisha's Avatar
 
Join Date: Apr 2014
Location: San Antonio
Region: Texas
Posts: 1,279
GT Premium 13' with 27K miles 27OTD


Sent from my iPhone using Mustang Evolution
Laquisha is offline   Reply With Quote
Old 11-25-2014, 10:22 PM   #28
Registered Member
Regular
 
c_rizzle's Avatar
 
Join Date: Sep 2014
Location: New Orleans
Region: Louisiana
Posts: 1,008
What type of rental? Like Hertz rental... Bc that's bad I'm pretty sure the car was ragged out.

One good thing as a fleet or rental car it was probably well maintained.

I've bought my used Porsche at 3.5% interest, so that's used & premium and o still got a low rate. On new it would have been lower.

I'd probably stay away if it was a rental car company vs. Like a fleet rental for a salesperson, etc.
c_rizzle is offline   Reply With Quote
Old 11-25-2014, 10:38 PM   #29
Registered Member
Regular
 
Laquisha's Avatar
 
Join Date: Apr 2014
Location: San Antonio
Region: Texas
Posts: 1,279
GT Premium 13' with 27K miles 27OTD


Sent from my iPhone using Mustang Evolution
Laquisha is offline   Reply With Quote
Old 11-25-2014, 11:24 PM   #30
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
Quote:
Originally Posted by c_rizzle View Post
What type of rental? Like Hertz rental... Bc that's bad I'm pretty sure the car was ragged out.

One good thing as a fleet or rental car it was probably well maintained.

I've bought my used Porsche at 3.5% interest, so that's used & premium and o still got a low rate. On new it would have been lower.

I'd probably stay away if it was a rental car company vs. Like a fleet rental for a salesperson, etc.
I only read carfax report, and it said rental in it. I was built around 24-5-2014 and was returned to ford in November. So it got driven 11K miles in about 6 months time. I haven't finalized a deal yet, just have a 500 refundable deposit on it - which I can get back any time if I change my mind. Although, the finance lady wanted me sign the deal and insure the car right away..arsewipe!

|| ~BlackOnBlack~ ||
bazinga11 is offline   Reply With Quote
Old 11-25-2014, 11:44 PM   #31
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
Ps: just out of curiosity, what's the base vehicle price of a GT in US? Here in Canada it is 40-41K Or 34k after rebates n such

|| ~BlackOnBlack~ ||
bazinga11 is offline   Reply With Quote
Old 11-26-2014, 12:14 AM   #32
Registered Member
Regular
 
Laquisha's Avatar
 
Join Date: Apr 2014
Location: San Antonio
Region: Texas
Posts: 1,279
Quote:
Originally Posted by bazinga11 View Post
Ps: just out of curiosity, what's the base vehicle price of a GT in US? Here in Canada it is 40-41K Or 34k after rebates n such

|| ~BlackOnBlack~ ||

Based used 10k miles 2013 GT?' 23K-25K


Sent from my iPhone using Mustang Evolution
Laquisha is offline   Reply With Quote
Old 11-26-2014, 12:47 AM   #33
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
Quote:
Originally Posted by Laquisha View Post
Based used 10k miles 2013 GT?' 23K-25K


Sent from my iPhone using Mustang Evolution
You got your GT for 27K with about 27K miles or brand new? I was just saying if you compare base price of a GT in US to that Canada (with no options nothing), there is a difference of about 5K. The only problem with my trade in the number of miles I've put into her, they're hitting it's value quite a bit. Brand new with same options as mine is priced at $27K

I'm calling around a bunch of private lenders to see if I can find lower interest. I might as well lease it for 3-4 years if i can get a good rate

|| ~BlackOnBlack~ ||
bazinga11 is offline   Reply With Quote
Old 11-26-2014, 12:51 AM   #34
Registered Member
Regular
 
bazinga11's Avatar
 
Join Date: Jun 2013
Location: Burbs
Region: Canada
Posts: 1,404
Quote:
Originally Posted by c_rizzle View Post
What type of rental? Like Hertz rental... Bc that's bad I'm pretty sure the car was ragged out.

One good thing as a fleet or rental car it was probably well maintained.

I've bought my used Porsche at 3.5% interest, so that's used & premium and o still got a low rate. On new it would have been lower.

I'd probably stay away if it was a rental car company vs. Like a fleet rental for a salesperson, etc.
That's what I was talking about earlier. I can probably get that same rate (or maybe lower who knows) if it was a BMW/Mercedes/Audi. There are so many of these in my area. People lease em brand new for 2 years or so and then they get another car.

|| ~BlackOnBlack~ ||
bazinga11 is offline   Reply With Quote
Old 11-26-2014, 02:58 PM   #35
Registered Member
Regular
 
c_rizzle's Avatar
 
Join Date: Sep 2014
Location: New Orleans
Region: Louisiana
Posts: 1,008
One other thing to consider doing. It becomes very worthwhile on higher priced cars, especially when they're trying to not give you a lot on the trade.

I did this with my last car deal.

Its called a Courtesy Trade. Basically, you find a private buyer for your car, then go there with your buyer and trade-in your car to the dealership for usually a couple hundred ($200+) less than your deal is worked out for with the other buyer. Then they sell your car to the person for the price you set with them. You get a higher selling price of the selling private, but you still get the tax savings of a trade-in.

The dealership makes $200+ on your buyer with basically no work, and a guaranteed buyer lined up.

Where you make your money is 1.) You generally get a lot more by selling a car than dealers are willing to give you as a trade in value. 2.) You save the sales taxes on the trade in value.

For example, in July my local Ford dealership wanted to only give me like $28k for my 2006 Porsche Cayman S with TPC stage 2 Turbo kit with only 34k miles. KBB was $33k for perfect all options which mine was. Anyway, I found a buyer in 2 only days (online) for $32,800 (could have gotten more if I waited). Buyers bank was willing to wire money to dealership since they were dealing with a dealership (not a private party).

So I got $4,800 more than dealer was offerring me. PLUS I saved $2,870 in taxes, b/c I still traded it in. (Instead of just selling to a private buyer myself, where I'd have still gained $4,800, but not the $2,870.

I sold the car for about $3k less than I would have if I was doing private party only b/c I knew I'd also get the tax savings.
c_rizzle is offline   Reply With Quote
Reply

Lower Navigation
Go Back   Mustang Evolution > 1979-2015 Mustang GT || Tech and Talk > 2011-2014 Mustang GT

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Deal or no deal Moto111 General Mustang Discussion 6 01-15-2014 05:06 PM
Soon to be Mustang owner / Good Deal??? FL4TLINE General Mustang Discussion 0 10-24-2013 03:07 PM
potential new owner fastJ General Mustang Discussion 33 08-10-2013 11:23 PM
CAI deal or no deal? C_Dailey95 2005-2010 Mustang GT 9 03-10-2013 04:06 PM
Is this a good deal? Too good to pass up? meturato General Car Discussion 3 08-24-2009 11:14 AM

» Like Us On Facebook



12:20 AM


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Content Relevant URLs by vBSEO 3.6.0

MustangEvolution.com is in no way associated with or endorsed by Ford Motor Company.