Lets discuss members selling their Mustangs guys ...

[tigerhonaker]

Guys,

As the header says let's talk/discuss members that have put their Mustangs up for sale and us that in the future will be doing the same.

This thread guys could really turn into a very-very positive one if we all take this serious and stay on Topic.

What I have seen if it is a more expensive Mustang the odds of any member buying it is far and few between.

I have seen some pretty doggone elaborate Mustangs on here for sale but no one jumped on them.

So, lets discuss this for me and all of us as to what you all think.

My thoughts are,

Maybe members think the Mustangs are priced way to High ???

Members simply have Mustangs already and when they do change cars even to another possibly newer Mustang they go to a Dealer ???

60-72-84 Month Low-Interest Loans and get the Tax-Credit on their Trade ???

Maybe Financing plays a Major Roll in it see above ^^^ ???

Even if members want the Mustang that is on here for sale they already have a Mustang so now what ???

I'm bringing this up to simply see what your thoughts are on this subject.

I'm not mentioning specific Mustangs that I have seen on here for sale as then it could get personal, maybe.

The way I'm approaching this is much more of a Wide-Open discussion with everyone.

Being 100% honest a person knows all the Huge Monies spent and therefore in pricing their Mustang they price accordingly to hopefully Recoup some of it.

(But in doing so that prices the Mustang way past what another person is willing to spend for it) ???

Let me ask you guys what your opinions are as to where and how you would go about selling your Mustangs ???

Especially the more Elaborate, higher-Priced ones ???

Do you guys by chance know if there are Companies that specialize in this sort of thing ???

(Like a person would supply the information and possibly the pictures and that company put it all together professionally and put it in the Best-Possible-Location for Exposure)

Would you contract with one of the Companies that do the Consignment thing ???

Example below,

http://www.gatewayclassiccars.com/




Guys, seriously, get on here and post what your real thoughts are on this.

I think a great many of us would like to have options for selling our Mustangs.

Some of you might very well have some excellent ideas and in-fact might have already gone through the process already.


Terry

 

[JimC]

For highly modified cars, unless you find a buyer yourself who can come up with the cash, Gateway is probably the best bet. A friend sold his car through them; he didn't get any bites trying on his own.

I sold my supercharged 2006 through ebay eventually. Just had to find the right buyer who had the cash to make up any difference on financing amount. Dealership said that they really couldn't give me enough on a trade in because they would have a hard time getting someone financed for what the car would have to go for on the lot.

My 2013 I ended up de-modding before trading it in. I thought about trying to sell it myself, but then decided that the reason I was getting rid of it meant it made more sense to de-mod and trade it in. I didn't want the buyer coming back to me if it blew up for the 4th time! My wife was convinced that car was cursed.

 

[weather man]

Most don't have a clue what it costs to really modify a car heavily. The other issue is finding a guy who likes how you did your car up. Another issue is about trust, why are you really selling your highly modified car. I shudder at the ass kicking I would take on mine.

 

[Timmbo]

IMO, for a really nice mint modified car I expect at the very least to get the top bar of KBB value. However....the mods are a different story. I think your only going to see an average of 30-35% of what your mods in total really cost you. It's definitely a punch to the gut. But you gotta be real here. It just is what it is.

The upside is that there is always that "one person" who will fall in love with your car and what you've done and take the risk on buying your car. They'll know the true value of what you've spent. And to know they are only paying 35 cents on the dollar for those mods they know they are getting a bargain anyway. It takes a while to find this person so you just have to be patient.

I guess I don't take the hit of selling a car with a partial loss too personally and feel like a fool. People spend thousands of dollars on vacations every year and that money is just poof. Gone. Every dollar I've spent on modding a car I enjoyed that expense every day, every time I drove it year after year. So to me it was worth it. I did the same things with the Harleys I had. I knew I'd never recoup those dollars....but the joy it brought me at the time customizing them was just worth it. Hard to put a price on that I guess.

 

[SherrodMustang]

I have sold and purchased quite a few vehicles over the years. I have also dumped a ton of money in a lot of them also. I go into it knowing that I will never recoupe all the money I invested in it from the start. I also understand that by modifying it, I start to limit my buyers for the vehicle.

Now for a stock vehicle, I look at trading to it dealership most times... no big deal. But for a modified vehicle I looks to the forums, ebay, cars.com, autotrader, etc... As this by far gives me the most money for my vehicle... but it takes the right person. Most times it is a cash sale, the buyer has the money and knows what he wants. You will be surprised, somebody could be looking for your exact vehicle somewhere.

I sold my 2008 Mustang right from this forum.. I didn't get what I wanted for it, but got more than I would have got trading it in. I personally never look at vehicle as an investment. I know what I put into could be a possible loss at the end. I get my enjoyment from owning it and modifying and never go into it with the intent of selling it for a profit.

I personally have never used a consignment company. I have had great luck, just listing it myself, having people contact me, working out a deal and making it happen. But, I have never been in rush to sell it, as most of my cars are for fun and can do without it or keep it.. no biggie.. just a hobby for me.

 

[Phil1098]

I think for most, the adventure of modding your car is a huge part of the fun. Making the decisions on what to do and with what parts is what ends up making that car yours. It gets back to what Tim said, some people are fine spending $5k on a vacation and 100% of the money is gone the day you get back, but if I spend $5k on a supercharger most would think that's a waste of money (not many on here, just in general). I tend to be tighter than a clam with lock jaw and it is what is holding me back from doing things like FI on my car. I sold cars at a new car dealer for over ten years and we always said there is an ass for every seat. That statement is true, it's just finding that ass that is the challenge. I know if I sell my car locally I will do better than on here, most would think my price is too high, but a local guy that sees the car and drives it will get to experience it and I have the possibility of him getting the bug. Just like Tim's car, he needs to go to some of the car shows and cars & coffee with a for sale sign in it. Somebody will appreciate what he has done and have to have it.

 

[GallopingFord]

Finding the right market is the hardest challenge when selling a modded vehicle. Just need to find the right buyer/seller at the right time. Sometimes it just takes time. Plus it doesn't help that most individuals who are looking for a modded vehicle, are also considering buying a stock one themselves and want the thrill of doing the mods themselves. Granted some vehicles are too modified to try and replicate and can easily add to the desirability (hope that makes sense).

Banks and financing can also be a bottleneck with selling modded vehicles. Buyers and sellers can acknowledge value added details/mods, but all too often I have a vehicle for sale that is not in line with what a bank says its worth and it can cause issue (especially when credit can be brought into the picture), but I do work with banks that help financing with 135%+ of NADA value to help with value adding stuff that all parties acknowledge.

One of the best formats I've seen for selling irregular/unique vehicles is bringatrailer.com. If I were to sell my Bullitt, it would be going straight to that website.

 

[MADGT]

As we know, modding a car is very personal endeavor. You add and delete items to your taste and when you do, for the most part, you can careless about someone's opinion on what you add/delete. Now, let's flip it...when you are trying to sell a car that you have modded to your own personal taste, the most likely buyer is the one that has a similar taste to yours. In my opinion, the heavier the car is modded, the more difficult would be to find someone to buy it at a price you want. Thus you end, selling for less or not selling it at all.

 

[palanza7]

Yeah realistically demodding is probably the only way to get maximum cash out of your project. Having bought most of my parts used, when I parted out my mustang I recouped almost 80% of what I had in it. This is of course if you are doing the work yourself. Getting the cost of labor back is pretty tough unless you really want to play the waiting game, have all the documentation of who did it and whats in it, as well as meeting someone who is trying to have something very similar built. Then you still gotta cut them a good enough deal that its worth taking off your hands instead of just paying a little more to have it built brand new.

 

[skwerl]

Another good option is wrecking it after making sure your insurance is paid up.

Just joking, but when I wrecked my Bullitt I ended up coming out further ahead than if I had tried to sell it. I bought it back from the insurance company to demod it and ended up getting over $35K out of it altogether. And I didn't have to worry about replacing aftermarket parts with stock parts.

 

[tigerhonaker]

Guys,

I started this thread as you all know so just want to say ...

Thanks to all of you that have posted for your comments and thinking on this subject.

I'm personally thinking of putting my 2008 Bullitt Mustang up for sale.
And trying to get my game-plan together to do that.
In saying that ^^^ it is the main reason I've come here looking to each of you for your thoughts.

Thanks guys .........

Terry

 

[skwerl]

Well no shit, Sherlock. We knew that from your first post, no need to assume we are all stupid phucks. You seem to have an incredible grasp of the obvious.

 

[AndrewNagle]

Finding the right market is the hardest challenge when selling a modded vehicle. Just need to find the right buyer/seller at the right time. Sometimes it just takes time. Plus it doesn't help that most individuals who are looking for a modded vehicle, are also considering buying a stock one themselves and want the thrill of doing the mods themselves. Granted some vehicles are too modified to try and replicate and can easily add to the desirability (hope that makes sense).

Banks and financing can also be a bottleneck with selling modded vehicles. Buyers and sellers can acknowledge value added details/mods, but all too often I have a vehicle for sale that is not in line with what a bank says its worth and it can cause issue (especially when credit can be brought into the picture), but I do work with banks that help financing with 135%+ of NADA value to help with value adding stuff that all parties acknowledge.

One of the best formats I've seen for selling irregular/unique vehicles is bringatrailer.com. If I were to sell my Bullitt, it would be going straight to that website.

Brings a trailer is great and addictive. But I have to be careful, as not to buy something.

And exactly about financing when we sold my wife's Fiat which I did some minor modifications to no bank would loan folks the amount we wanted for it.

 

[Timmbo]

So does the Bring a Trailer website have a broader audience than Ebay?

 

[AndrewNagle]

So does the Bring a Trailer website have a broader audience than Ebay?

I think a more focused smaller market.

 

[GallopingFord]

So does the Bring a Trailer website have a broader audience than Ebay?

It caters to enthusiasts. Basically car guys selling car guys cars. Everything on there is basically unique. I've lusted after so much machinery on there. Every listing is very detail oriented.

 

[Timmbo]

^^. Thanks for the info! I've got till sometime in October till my Demon comes in so I'm not in too big a hurry to sell my Mustang. I sold my green SRT pretty quick. To be totally honest I REALLY don't WANT to sell my Mustang. I don't really have to. But it sure would make that Demon payment more like a Kia payment if I could LOL! However I'm not gonna give my car away. The way I look at is that if it sells for what I want....I'm doing it. If I can't get what I want....I keep it. It's just the kicker is that man.....I'm gettin older. And as damn anal and OCD as I am it's a major stress on me keeping two cars pristine. Can't help it though. I grew up in a house with plastic runners on the carpet and plastic over the lamp shades LOL! Seriously. If I can...I just want to get back down to one hot rod. I guess will see how it goes in the coming months.

 

[eighty6gt]

Terry, you should write in paragraphs, I'm not a crazy person for that kind of thing but it's easier to read on my laptop!

I think it's been rehashed over and over again how difficult it is to sell a modified car. I have probably $60,000 into my Mustang (It was 38,500 new plus tax,) I wouldn't expect to get more than $18,000 out of it. But I am going to drive it into the ground.

Let's take a step back and look at human nature and the treadmill of hedonistic desires that we're all on. It hurts our finances and, since I'm a bastard bleeding heart and environmentalist apologist, is destroying the earth. This is a discussion few will want to delve into, but I believe that home prices in my country (Canada,) are elevated to such an extent that many of my cohorts find it impossible to spend much on consumer goods that cost any real money. It might be the same in many regions - the USA is a consumer spending mecca in comparison! The governments must think this is a good thing, since instead of buying bass boats and rims and AR-15's and side by side ATV's, everyone here can buy one car every 8 years, their house, and THAT'S IT. No greenhouse gas emissions from flights all over the place, no excessive purchases of home audio systems or god knows what. No tesla battery packs!

If you sell your current car and get something else, you will be in the same place almost immediately, where technology is outrunning what you've got and you're wasting money personalizing that product again. At least it's not a cell phone, mine broke 2 days ago due to flawed design leading to thermal breakdown of the internal components (planned obsolescence, almost certainly.) $1000 to replace, and the new one will probably last a year as well, it's insipid. I can't do it.

Finally, let's say you buy a new Camaro ZL1 since it's the fastest newest thing with enormous rubber and huge power. Besides roll ons to hyper-legal speeds and some alcantera or softer rubber on the inside to touch, it won't be any more fun to get around in. Boredom is inevitable since you'll be that much further from the performance envelope of the vehicle. Unless you have the scratch to track a $60k (?) car.

In a parallel discussion, I also know that it's impossible that what I suggest actually happens (people keeping their cars forever,) and it's interesting to see so many smart people divest themselves of the S197's and the cars wind up in the hands of folks who do not visit internet BB's or do modifications, except for maybe portal vents on the front fenders and bad wheels. This will thankfully wash out in time and hopefully some good enthusiasts for this generation of car will remain out here, trying things and buying the odd product that we need to keep the cars on the road until internal combustion vehicles are inevitably banned.

Keep your stick on the ice!

 

[tigerhonaker]

Thanks guys for all the very useful information you have provided.
This thread and the post on it will not just possibly benefit myself but many other Mustang owners.
Especially the ones of us that have highly modified, super expensive Mustangs.

I have to say that speaking just for myself and my Mustang.
I'm not even really sure what is a Real-World-Selling-Price.
What I'm saying is what really should I expect a person that would want it to pay for it.
So this thread and all your comments and discussions are really appreciated guys.

If any of you that know my Bullitt Mustang have any thoughts, suggestions on what it's really worth post away.
No hurt feelings on this end guys as I said I'm not even really sure myself and I own it.


T.

 

[Timmbo]

I have to say that speaking just for myself and my Mustang.
I'm not even really sure what is a Real-World-Price selling price.
What I'm saying is what really should I expect a person that would want it to pay for it.
So this thread and all your comments and discussions are really appreciated guys.

If any of you that know my Bullitt Mustang have any thoughts, suggestions on what it's really worth post away.
No hurt feelings on this end guys as I said I'm not even really sure myself and I own it.


T.

Like I've said, I think real world expectations even for that one buyer is top dollar value on KBB or NADA + 35 cents on the dollar for your mods. I'm testing the market at that right now so I'll keep you posted.