Unreal depreciation

[Jdio]

sota

sorry i meant sorta

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[Crew4991]

Your GT didn’t depreciate $25K in 6 months. You paid too much to start with by ~4-5 grand, so knock that off your 25K. And you have some milage accumulated to, so deduct that from the $25K. Then there’s the accident and painting incidents that are a part of your cars’s permanent record. All that must be accounted for. Then factor in that you’re trying to sell or trade it to a reseller who will pay you no more than wholesale. Plus, the dealer or potential buyer can sense your frustration and he’s gonna take advantage of it. Factor all that in and you probably lost no more than 10 grand in real money, worst case. If you want to minimize your “loss”, stop whining long enough to sell your car at retail on your own and you may get down to the 6-7K range.

I just traded an immaculate 1200 mile ’24 GT to a dealer last week on a new DH and close as I can figure I maybe lost 7K. I expected this and felt OK with it. But I’m proactively smart and know what I’m doing, and it shows to a dealer.

Listen, trading and wholesaling cars to a dealer or reseller is a dog-eat-dog blood sport at best. Nowhere is the Principle of Natural Selection more in evidence, and judging from the nature and tone of your posts about this I’d say that’s what you’re experiencing. Ain’t nothing wrong with resale on your Mustang; don’t blame the car. Look elsewhere.

100% agree with this.
Also, as a convertible lover myself - need to figure in the fact that OP is getting wholesale amounts for their convertible in December.
OP should wait until springtime/tax time season for most money back on a convertible.

 

[Mikepol2]

FWIW my wife’s car got rear ended a couple yrs ago and I took it to one of the collision shops approved by the insurance company. The shop kept it a month and I wasn’t happy with the results so I complained to the insurance company. They said take it where I want and have them report any issues. Long story short the 2nd shop re-repaired the damage and I paid zero extra. So there are avenues if you’re concerned about the quality of the repairs.

All that said, the car will always be worth less than a car with no accidents on its record. Thanks Carfax.

 

[young at heart]

100% agree with this.
Also, as a convertible lover myself - need to figure in the fact that OP is getting wholesale amounts for their convertible in December.
OP should wait until springtime/tax time season for most money back on a convertible.

Truth is if he trades it to a dealer or sells it to a reseller, he’ll never get more than wholesale anyway. That‘s how they make money and turn a profit. Take a car in at wholesale, put it back out at retail. Of course you’re right in that a convertible will be worth more in the spring than December!

FWIW my wife’s car got rear ended a couple yrs ago and I took it to one of the collision shops approved by the insurance company. The shop kept it a month and I wasn’t happy with the results so I complained to the insurance company. They said take it where I want and have them report any issues. Long story short the 2nd shop re-repaired the damage and I paid zero extra. So there are avenues if you’re concerned about the quality of the repairs.

All that said, the car will always be worth less than a car with no accidents on its record. Thanks Carfax.

Yep, you’re correct for sure. No matter how well it’s fixed a smacked car is still smacked. Can’t wipe it clean from that and that’s why the good Lord invented diminished value claims.

 

[Aegean]

$30k in 6 months is a lot of depreciation. I was shocked with $45k depreciation in 6 years on a 2018 Tesla Model 3 Performance from $70k to $25k today but the Mustang GT is taking it to another level.

 

[Adamrx11]

The depreciation is with a clean CarFax. The damage hasn't been reported yet. If I report it I might as well keep it. The $42k offer from CarMax is with a clean CarFax and just some panel damage. The difference between damage and no damage is only a grand or two difference what they'll give me. So if I wait until spring will the offer go up or is it better to cut my losses now and sell it to them as is? I wanted at least $50k so I could get a fastback with PP. Losing almost $30k to depreciation in 6 months is criminal, don't understand it. I paid just under $68k, thought I'd lose maybe $10k, not almost half the freaking value. Will never buy a new Ford again.

 

[Adamrx11]

$30k in 6 months is a lot of depreciation. I was shocked with $45k depreciation in 6 years on a 2018 Tesla Model 3 Performance from $70k to $25k today but the Mustang GT is taking it to another level.

Never seen anything like it. 2 months ago it went from $68k to $50k, now it's down to $42k, maybe $44k without the panel damage. It's complete BS. I don't see any others being sold online used at such a loss, maybe $8k, and with more miles and less options/packages.

 

[Adamrx11]

FWIW my wife’s car got rear ended a couple yrs ago and I took it to one of the collision shops approved by the insurance company. The shop kept it a month and I wasn’t happy with the results so I complained to the insurance company. They said take it where I want and have them report any issues. Long story short the 2nd shop re-repaired the damage and I paid zero extra. So there are avenues if you’re concerned about the quality of the repairs.

All that said, the car will always be worth less than a car with no accidents on its record. Thanks Carfax.

There is no accident on record, I haven't claimed it yet, this is depreciation with a clean report and it's complete BS to lose 40% in only 6 months

 

[Adamrx11]

If you're on the fence about buying an S650 buy it used or not at all. The new prices are completely overinflated to lose $20k the second you drive it off the lot. Completely ruined my passion for these cars.

 

[MegaMan]

Main stream media will lead you to believe that your car and home are the average Americans biggest "investments." The funny part is, your car and home are true liabilities. Investments put money into your bank account every month and/or increase your net worth. Think - cash flowing real estate, dividend stocks, businesses....those are investments.

Cars, regardless of make or model are commodity products....similar to a TV, sneaker, RV, toaster oven, smartphone, lawnmower etc... Commodity products do not go up in value. They are a dime a dozen, manufactured for the masses to consume.

There are exceptions, where highly desired commodities can actually go up in value...think of a rare antique, or painting, or limited production exotic car...they can go up in value - its the exception, not the rule.

Commodities lose value the second you purchase them. How much is your $1000 TV worth the second you plug it in? $300 maybe?? How about the $150 sneakers you bought, how much are they worth at a garage sale (whether you wore them once or 500 times)...maybe $5 bucks?

Your car depreciating in value is normal, expected and par for the course. Reality and expectations are two different things.

Does losing $20K in depreciation in year one of new car ownership suck? Absolutely.

If you don't want to "lose" money, buy a 1994 Toyota Corolla with 150,000 miles for $2000. Drive it for as much as you would like and you could probably sell it for nearly what you paid for it. But...what fun is that!?!?!? To each their own.... just my 2 cents.

 

[Adamrx11]

Main stream media will lead you to believe that your car and home are the average Americans biggest "investments." The funny part is, your car and home are true liabilities. Investments put money into your bank account every month and/or increase your net worth. Think - cash flowing real estate, dividend stocks, businesses....those are investments.

Cars, regardless of make or model are commodity products....similar to a TV, sneaker, RV, toaster oven, smartphone, lawnmower etc... Commodity products do not go up in value. They are a dime a dozen, manufactured for the masses to consume.

There are exceptions, where highly desired commodities can actually go up in value...think of a rare antique, or painting, or limited production exotic car...they can go up in value - its the exception, not the rule.

Commodities lose value the second you purchase them. How much is your $1000 TV worth the second you plug it in? $300 maybe?? How about the $150 sneakers you bought, how much are they worth at a garage sale (whether you wore them once or 500 times)...maybe $5 bucks?

Your car depreciating in value is normal, expected and par for the course. Reality and expectations are two different things.

Does losing $20K in depreciation in year one of new car ownership suck? Absolutely.

If you don't want to "lose" money, buy a 1994 Toyota Corolla with 150,000 miles for $2000. Drive it for as much as you would like and you could probably sell it for nearly what you paid for it. But...what fun is that!?!?!? To each their own.... just my 2 cents.

The plan was to keep this car forever but now with the damage done to it and the subsequent rattling like hell everywhere and now the Magnaride suspension issues I don't want to chase my tail trying to get it back the way it was because it will most likely never run the same so all I'm doing is killing my insurance rates for no reason if I'm gonna trade it in anyway, only a couple thousand dollar difference in trade in value whether I get it fixed first or not.

I know it's a liability but that much depreciation so soon is completely ridiculous. Besides the recent issues it looked and ran better than new. I took very good care of it, even had a full ppf on it.

The plan was to trade it in for a fastback (I want the slightly better handling and option to track it now that I'm into the whole V8 thing) but I'm not getting enough back for even a base model fastback, much less one with another NPP, 401A, AVE, PP, Magnaride.

i see used mustangs online that are all selling $8-10k off sticker, with more miles and less options than mine, so I really don't understand why my particular VIN is worth so much less. I bought in mid May for just under $68k MSRP (I got around $1500 off sticker).

This experience has completely ruined the brand for me, probably will go back to a V8 hemi jeep grand cherokee and put this mess behind me.

 

[BuckeyeJake]

Why are you blaming your poor deal making on Ford? Some of us were able to get alot of money off our cars. Any smart car buyer would know a GT isnt worth 60k new. I would recommend watching some youtube videos on car buying.

 

[Adamrx11]

Why are you blaming your poor deal making on Ford? Some of us were able to get alot of money off our cars. Any smart car buyer would know a GT isnt worth 60k new. I would recommend watching some youtube videos on car buying.

Good for you. I got them as low as I could. In hindsight I should have walked away but I wanted what I wanted and that still doesn't explain why mine depreciated 40% in less than 1 year, when the same models different VINs with more miles and less options are selling for much more than what mine is supposedly now worth. $18k depreciation in 3 months and now $25k depreciation in 6 months off $68k is not normal, and this is with a clean CarFax

 

[Adamrx11]

Why are you blaming your poor deal making on Ford? Some of us were able to get alot of money off our cars. Any smart car buyer would know a GT isnt worth 60k new. I would recommend watching some youtube videos on car buying.

With the price increases for the 2025 model year, a new GT with PP and Magnaride is costing what last year's convertible went for, right at $67k. Build it on the Ford website if you don't believe it. Any "smart" buyer would know you're not getting a fully loaded and every optioned GT for under $60k, not if you want PP and Magnaride, on top of the GT premium, 401A, AVE costs.

If mine hadn't been damaged I wouldn't care, because I was planning to never sell and add it to the collection. It's the fact that my trade-in value is garbage so soon for no plausible reason, so I'm stuck either getting it "fixed" and take my chances on it driving like it did with a hit to the Carfax and my insurance rates, or sell and eat $30k in only 6 months. Hell for that amount of loss I was better off leasing it so I'd get to enjoy the car for 3 years instead of 6 months. It's BS

 

[Q6543]

FFS don’t buy a grand Cherokee new, you’re gonna lose another 40 grand … maybe 50.

I want to see how bad my depreciation comes back now

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