Say I wanted to get a 5.0...

[justinsstang]

What would you guys do in my situation? I still owe $11,900 on my 2006 GT, and have an M90 on it. It has around 103,500 miles now.

I went to the dealer the other day just to check, and they'll of course only give me a little over $10k on trade in.

Well that obviously isn't going to work out since I'll be $1,900 upside down. Plus the money put in to the M90 kit. Plus I have pacesetter headers sitting in my living room that I haven't put on yet.

Would the best route be for me to try to sell it privately, then find a used 2011 or so at a dealer... or buy one from a private party as well?

What should I ask out of my 2006 with that many miles? Is 16k feasible?
Too much for the mileage? What would YOU say is a fair price... I may post an ad on craigslist here soon... Possibly on here too.

I'm not sure if I want to get rid of it because I do enjoy the car... but I've always been jealous of the newer interiors and really want to get in to something a little nicer from the inside. Plus the bigger motor with higher capabilities and a 6 speed is a major plus.

Thanks for any input.

 

[AndrewS197]

16k would be way too much in my opinion. I got 16k on a trade in for my 05 gt with 18,900 miles.

 

[07TGGT]

Only $1,900 in negative equity? Put $2K down or more. You can get a 5.0 for great price right now.

 

[TGR96]

Well, I think you re gonna get responses from all over the board here, but if it were me, I'd de-mod it, sell the aftermarket parts, Sell your car stock to a private buyer (do not trade it in, you know they won't give you crap for it), then according to your budget, get the 5.0, either from a new car dealer (usually can get better financing), or get a low mileage used one.

If you de-mod and sell it stock, KBB says it's worth about $11,200, depending on options and conditions, as well as your local market.

http://www.kbb.com/ford/mustang/200...103000&category=coupe&pricetype=private-party

Good luck. I can tell you one thing, coming from a 2007 3V (a car that I absolutely loved BTW), you will not regret getting the 5.0. It's an amazing powerplant.

 

[AlbertD]

I would return it to stock, sell off all your parts and trade it in for the 10k (or sell privately for a little more if you don't mind the hassle). Then work up a down payment for a used 2011. Depending on how much money you make from selling off parts you could already have a little bit built up.

I sold my 06 GT last year with similar mileage for 9.5k, all stock.

Edit: Ha, treed by TGR

 

[Grabber]

10K is pretty good considering the miles.

I got 10,500 for my 05 GT with 67K miles on it that was almost flawless.

I'd put 2K down or take the hit as that is a VERY fair price.

 

[Boaisy]

The dealer will not care what mods are on the car because when they go to resell, the banks that issue the loans only apply factory options to the car's value. It can have a $8,000 super duper racing package, and the banks could give two shits about it. It makes even the Roush Mustangs a bitch to sell on the used market for some dealers.

Best route is to return to stock, and then private sell/trade. This way you get most of your money from the mods, and you should still get $10k for the car in trade. NADA rates a GT fully loaded with that mileage at $12,400 retail (which is what the dealer will try to resell for).

Or if you don't want the hassle of returning to stock, do as others have said and just put $2k down and trade as is. It is not a bad offer for a modded Mustang.

 

[justinsstang]

Ouch. I'm thinking of trying to sell it with everything on it. Don't think I could get 14k out of a private seller with it having a supercharger?

 

[TGR96]

My late father who was in the car business pretty much all his adult life always told me "a car is worth what someone is willing to pay for it."

For the right buyer, I'd say $14K for a 2006 with a supercharger is reasonable. The trick is, finding the right buyer.

 

[isthatguy]

honestly - i have seen people selling built motor cars with blowers for 14-16k . I was in the same boat as you - but decided to keep my car and build my motor. FYI, I was going to ask 12k for mine - 95k 2005 convertible fully loaded, full bolt on and a blower - several other mods, custom leather. bla

 

[Riptide]

Financing close to 100% on a 25k$+ car?

Would not even entertain it. Keep the car or dump it private party and save up.


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[justinsstang]

I'm looking at financing one of these 2011 5.0s that I keep seeing going for $20k, not $25k. That's why I'm seriously thinking about it.

 

[JCCNY]

Or you can just keep the car and continue to drive the shit out of it. I want a new GT for the power, not necessarily the nicer interior. Demodding is a big PITA and I don't even have a blower. For what it is my 3v is still a fun street car that I'm trying to be content with. Good luck.

 

[TexasBlownV8]

Well, I think you re gonna get responses from all over the board here, but if it were me, I'd de-mod it, sell the aftermarket parts, Sell your car stock to a private buyer (do not trade it in, you know they won't give you crap for it), then according to your budget, get the 5.0, either from a new car dealer (usually can get better financing), or get a low mileage used one.

If you de-mod and sell it stock, KBB says it's worth about $11,200, depending on options and conditions, as well as your local market.

+1. I recently did this on a car. Demod it and you can recover some money from the s/c, and then sell the headers. Selling private, you should be able to get 11k or more with that many miles. However also consider any trade-in sales tax discount that you may get; for example, with "our" 6% (roughly) tax rate, trading in $10k vehicle will save you $600 in sales tax. So even if you sold the vehicle outright to an individual for $11k, you'd gain $400, not $1000.

The price you can get for yours really depends on the local market, more than what kbb or bluebook will quote.

As far as which generation is better, that's up to each person. Some people prefer the '05-'09 body styles over the '10+. Just takes the right buyer. And, you being able to afford to handle it; that can be a real challenge, especially if you owe more than what you can sell it for.

But, if you plan on doing a coyote swap, that too will run into some $$$.

 

[DNT H8]

With 5.0's price coming down who is gonna privately sell any 05-10... nobody in a decent amount of time for a respectable price. 5.0's can be had for a $400 a month car note.

De-mod it, trade it in, and sell the parts for 5.0 mod money.

 

[Riptide]

If dealers take them on trade then you can sell private party.


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[Tungsten06]

I went through this last week.

I had an '06 GT vert that I took to several dealers, best offer I had was 10,500. 84k miles. Normal wear and tear, needed tires and brakes soon, had all the usual issues a 05-09 has. I had been dumping money into it since I bought it 4.5 years ago and I decided I'd had enough after being rear ended and slowly started to de-mod it and waited for a 5.0 to come along. So far I don't regret the decision. The cash from the parts definitely comes in handy.

 

[GallopingFord]

Over 10K wasn't a bad deal IMO.

This weekend we put $1,000 on a 2006 GT with an Auto and 212K miles.

 

[cbass]

Put up an ebay ad for a week with a reserve of more than you want. Then if the high bid at the end is enough, you can reach out to the bidder and still arrange a sale. Worst case, you're out a couple of bucks for listing.

 

[Bud]

However also consider any trade-in sales tax discount that you may get; for example, with "our" 6% (roughly) tax rate, trading in $10k vehicle will save you $600 in sales tax. So even if you sold the vehicle outright to an individual for $11k, you'd gain $400, not $1000.

People often overlook that tax discount when trading in to a dealer, good to keep that in your calcs when deciding to trade or sell outright. Also go request some brochures by mail at http://www.ford.com/cars/mustang/brochures/ sometimes they come with $750 coupons in them, that'll help cover some of the negative equity.