Why so many S650s on Carmax?

[precision1k]

Was looking at Mustangs on the Carmax and cars.com websites with the intention of buying an S550 in the low to mid 30k range, but was surprised to see so many used 2024 GTs for sale for not much more. What prompts people to purchase a Mustang GT and sell it in the same year with ~4-8k miles? Are they all on the secondary market because people couldn't make the new car payments, or maybe weren't happy with the purchase, or maybe there were persistent problems that they're pawning off to the second owner. . . or possibly a mix of all these reasons? I've typically owned cards for 5-10 years before I sell them, so it just seems odd to me to see so many used cars of the same model year already on the market (I realize we're at the tail end of the year. . but still) and am curious as to people's thoughts on the reasons behind it. Would you be cautious about buying a used 2024 Mustang?

Sponsored

 

[kagemusha2662]

Was looking at Mustangs on the Carmax and cars.com websites with the intention of buying an S550 in the low to mid 30k range, but was surprised to see so many used 2024 GTs for sale for not much more. What prompts people to purchase a Mustang GT and sell it in the same year with ~4-8k miles? Are they all on the secondary market because people couldn't make the new car payments, or maybe weren't happy with the purchase, or maybe there were persistent problems that they're pawning off to the second owner. . . or possibly a mix of all these reasons? I've typically owned cards for 5-10 years before I sell them, so it just seems odd to me to see so many used cars of the same model year already on the market (I realize we're at the tail end of the year. . but still) and am curious as to people's thoughts on the reasons behind it. Would you be cautious about buying a used 2024 Mustang?

i'd definitely say buyers' regret is a real thing with the s650 for a lot of people who have sold their car. Have seen youtube videos about it as well as talking to my local speed shop mechanic about it. The enthusiasm isn't there with these cars like the previous Mustang generations because 1. they're too expensive and 2. they're locked down in terms of tuning and full aftermarket potential. Sales of the Mustang didn't really jump with the new generation, so demand isn't high which will affect used prices. I don't think there has been too many issues with reliability on the s650, so I wouldn't have any qualms buying a used 2024 mustang if I were you.

 

[erocker]

There's 15 GT's/Dark Horses available nationwide through Carmax. That's not a lot at all.

 

[precision1k]

Yeah, but there are only four model year 2023s and seven 2022s. In comparison that seems like a lot of 2024s particularly since that's the current model year.

 

[DeluxeStang]

I'd say it's a variety of things. As a maverick owner, I know a ton of people flipped their mavericks on the used market for a profit. But if you're seeing s650s selling for less than MSRP than it's something else.

 

[Q6543]

A lot of mass layoffs across all sectors… you go from making 60-80k/yr or more to a pink slip and that $1,000/mo car payment is the 1st thing to go…

mustangs are toys, not staples… shows the average 2024 buyer may have been swimming over there head..

next will be houses.. but probably a few more years to crystallize

one of the main reasons i ordered my 24 was people still wanted EVEN more for 18-23s… that seems to be washing out finally.

 

[precision1k]

A lot of mass layoffs across all sectors… you go from making 60-80k/yr or more to a pink slip and that $1,000/mo car payment is the 1st thing to go…

mustangs are toys, not staples… shows the average 2024 buyer may have been swimming over there head..

next will be houses.. but probably a few more years to crystallize

one of the main reasons i ordered my 24 was people still wanted EVEN more for 18-23s… that seems to be washing out finally.

I think this is the most likely scenario. I'm probably going to buy a used S650 GT rather than an s550 based on the availability.

 

[Mspider]

I think cars like mustangs are just bought by people who change cars more often. My last few sports cars I owned for less than a year.

I also think people forget how many mustangs are produced and sold every year.

 

[Skye]

Autotrader has the following Mustangs on offer:

New 650s: 5787
Used 650s: 987

New DH: 452
Used DH: 85

As to why people sell, it's varied.

Life happens. Marriage, divorce, kids on the way, moving, loss of income, change of home type, etc. For whatever reason, the S650 has become impractical. It's easy to plan for the expected. Not so easy to get ready for the unexpected.

The US is a consumer-driven society and economy. We're always supposed to be buying something. People buy these cars and don't understand how expensive a vehicle is, especially if it's a second one or a pleasure car.

They bought it more-or-less on a whim, thinking they'd love the car and the performance. Then later realize they're not a car or motorsport person.

They are car people and realize the S650 didn't work for them. Something in the style, behavior or performance was off-putting.

They are car people, enjoyed it and have moved on to another vehicle. I've met two people like this. They're older. One is retired, the other, nearing retirement. Kids are grown and out of the house. They can afford to buy and sell vehicles often, so they do. They've always wondered what driving one car or another is like and they want to experience all of them.

It isn't just Mustangs. Neighbors exhibit many of the same behaviors and examples with their pets. If you've ever passed a motorhome storage lot, they're packed. Number of motorhomes on the road, even in peak Summer months: close to zero.

 

[Mr.SUB]

Living in RI I need (want) a car/suv that I could drive in the snow, but I knew this going in. Fortunately, I'm retired and have the resources to buy such a vehicle, in this case a Mazda CX50 turbo - that will fill that nitch. Plus, it is a more practical year-round vehicle.

I know that not all have this ability and if I didn't, I probably would have ended up at least considering selling the GT for the reasons stated above.

 

[young at heart]

I bought mine on a total whim. Was just looking through Mustang stuff on my iPad and saw this at a nearby dealer. The combination of black, red and bronze really accentuated the new styling and it just set me on fire. My wife failed to discourage me and a couple hours later it was home.

It‘s a great car and I really like it. But reality has set in. I have three others and I really can’t say grace over four, so one has to go. May be this one, maybe not. I haven’t decided yet.

Stuff happens. People do dumb things and have to pay the price. But it certainly isn’t a reflection on a great car.

 

[SSuperDave]

As a lifelong car guy, multiple Mustang owner and many year dealership employee, I am baffled by the lack of excitement over the S650. I consider mine to be the best of the ones I've owned, and am in it for the long haul.
I agree with most of the reasons lited above, but IMHO, the two biggest are price and the inability of Ford to give a shit about producing and promoting them in any way. Since I've been following them, I swear the factory has been closed more than its been open, and the horribly long wait time for people to get their cars is unconscionable. I get the delays during the pandemic, but not now. We are a medium sized dealer close to a huge market area and we've never had more than 5 at a time. I ordered mine with auto trans and spare tire only and with D plan pricing, it was $41,050, which I could live with, but several of the younger guys at work bought $60K plus cars, and I don't see how thats feasible. I sure could (would) not have done it.
And as those of us on this board a well aware of, product quality leave a lot to be desired, although that is true across all of our product lines.
I don't know any answers, but if sales continue to be soft, Ford will say oh well no one wants them and just go on to produce something else. They don't give a shit what they sell, as long as the make money off each one.
I guess I'm just disappointed that they have not been more popular, and the the aftermarket support has been so weak.

 

[Puddinpop]

QUOTE="SSuperDave, post: 3317507, member: 60572"]

aftermarket support has been so weak.

[/QUO
TE]
Last part of your sentence is what has me looking at getting rid of mine and moving to a C8. Sad really because I haven't even owned mine a year yet and I'm already looking to move on.

 

[roadpilot]

Last part of your sentence is what has me looking at getting rid of mine and moving to a C8. Sad really because I haven't even owned mine a year yet and I'm already looking to move on.

It took years to be able to tune a C8.

Loved my C7 Z06, but it had plenty of its own issues (overheating, warping brake rotors, etc) that made me get rid of it.

 

[DeluxeStang]

As a lifelong car guy, multiple Mustang owner and many year dealership employee, I am baffled by the lack of excitement over the S650. I consider mine to be the best of the ones I've owned, and am in it for the long haul.
I agree with most of the reasons lited above, but IMHO, the two biggest are price and the inability of Ford to give a shit about producing and promoting them in any way. Since I've been following them, I swear the factory has been closed more than its been open, and the horribly long wait time for people to get their cars is unconscionable. I get the delays during the pandemic, but not now. We are a medium sized dealer close to a huge market area and we've never had more than 5 at a time. I ordered mine with auto trans and spare tire only and with D plan pricing, it was $41,050, which I could live with, but several of the younger guys at work bought $60K plus cars, and I don't see how thats feasible. I sure could (would) not have done it.
And as those of us on this board a well aware of, product quality leave a lot to be desired, although that is true across all of our product lines.
I don't know any answers, but if sales continue to be soft, Ford will say oh well no one wants them and just go on to produce something else. They don't give a shit what they sell, as long as the make money off each one.
I guess I'm just disappointed that they have not been more popular, and the the aftermarket support has been so weak.

I think a lot of people are disappointed that the s650 doesn't look radically different and use an all new platform. Those are both changes that will likely come with s750. But that's how mustang has been for decades now, two generations that are quite similar, a radical change, two generations that are quite similar... It's been that way since at least the 90s, so I don't know why it's just suddenly bothering people now.

Sponsored