S197 Values - current asking prices vs mileage

[tabstang]

Responding to another thread about demand for S197 models (that thread went down the rabbit hole), I thought this data was interesting. I've been casually observing S197 values for many years (I've owned 4 since 2008) and I do believe they have seen an uptick lately. This could be due to higher demand for used cars in general, can't tell through my quick look whether demand for the S197 is higher than average.

This is a quick and dirty summary (2 slides) of current S197s for sale, mileage vs asking price. I got these graphs from cargraph.com. It includes all S197 models, there is no sort function by model. Please don't ask questions about the data, I didn't develop it - just thought it was interesting info. It would be possible to check pricing trends by looking at the data in the future to see how it changes.

https://docs.google.com/presentation/d/1t4-kYb77KWcPsw650UUpCa_JGzdQoH0ctBE6cUOv530/edit#slide=id.p

btw the yellow dots are listings 3 days or less old

 

[Dan07]

I am still getting alerts from when I bought my 07 last year and they have gone up quite a bit especially for low mileage. I bought mine last spring and comps went up a couple thousand since.

 

[LarryJM]

I was going to trade in my 2014 Mustang Base with 15,000 miles when the Virus started for a 2020 Camaro LT1 V8 with Recaro Seats. I decided not to go through with the deal. In hand was a CarMax quote of $18,000 and a We Buy Any Car quote of $19,500. One of the dealers said they would match that $19,500. Just a few days ago, I got a note from We Buy Any Cars they would now give me $23,000. I figured if I throw a few GT500 goodies on the Base Mustang, I am good to go for the next few years.

 

[tjm73]

Car prices, new and used, have gone full retard. Trucks especially.

When you can buy a used 5 year old truck for ~$30K with 50-60K miles and finance for 5 years (10 years old and all used up with no real value left at the end of the term) or have the same payment but leasing a brand new truck for 3 years, used prices are too high.

You could argue the lease is a perpetual expense, but if the truck is used up and not reliable enough for it's purpose after the term you are back in a payment just the same. If the choice is drive used and no longer warrantied or drive new and factory warrantied for the same monthly cost, the choice is easy. Of course if you want to modify the vehicle the formula changes.

 

[eighty6gt]

Anything even close to new is not worth buying in Canada right now. There are a few value scrapes in the mid 2000's - I'm looking for work vans for a friend, for instance.

My car was 32k new, same car is 55+ now, yes _I_ make more money because I've advanced in my career but a guy today with the same job I had back then, there is no way in hell he can afford a Mustang. If this person is lucky enough to be employed at all! Most of the grads are not!

We are in a time of change.

 

[Juice]

Car payments suck.

 

[tjm73]

Car payments suck.

Here. Here.

My DD is a 2013 Focus. Not the turbo version. Plain jane commuter special. Even has a 5 speed manual. It's paid off in about 2 months. It's hella cheap to own and operate, which is why I bought it. I'd like something bigger, but I'd like have no payment even more.

 

[Juice]

Here. Here.

My DD is a 2013 Focus. Not the turbo version. Plain jane commuter special. Even has a 5 speed manual. It's paid off in about 2 months. It's hella cheap to own and operate, which is why I bought it. I'd like something bigger, but I'd like have no payment even more.

Smart man!

 

[eighty6gt]

if nobody buys the shitty new electric mustangs

how will we enthusiasts afford them used?

 

[Juice]

if nobody buys the shitty new electric mustangs

how will we enthusiasts afford them used?

1st, Ford should not have called an suv mustang.
2nd, they will be cheap to buy used. Most ppl will dump their EV when its time to buy a new battery. And not the aux 12v battery!

 

[eighty6gt]

Then we put a gen 3 LS or a blueprint engines small block 350 in there!

 

[Rich]

Car payments suck.

I got suckered as a young teen into buying new, but I learned my lesson in 2004 and I haven't had a car payment since. Of course, I don't get to play with the new toys when they debut, but I'm good with that. I've learned three lessons that have made my financial life stress and debt free:
1. BE PATIENT and enjoy what you have instead of getting impatient with what you don't
2. Keeping up with the Jones's will only put you in debt and make you just as broke as they are
3. It's a terrible feeling to earn a paycheck and see it go into someone's else's pocket before you get to enjoy the fruits of your labor, (car payments, credit card debt, loans, etc)

I understand everyone's life is different and there are some thing's that can't be avoided, but on the whole, the discipline I use to watch what I spend and really only, buy what I truly want (no impulse buying) has allowed me to be debt free since 2005 and I live VERY comfortably. I'm not mega rich with cash, but I am mega rich with happiness and a minimally stressed life. Please don't misunderstand, it isn't always easy, but it is very doable with the right mentality.

 

[Juice]

I would love to buy new, but cars lose so much value the minute you leave the dealer lot.
I bought a couple of bikes new, but I was lucky enough to buy them cash.
And the full coverage you need to carry with a loan payment. No thanks.

 

[tjm73]

There is NOTHING wrong with debt. But that's with caveats.

A guy I went to high school with was 100% pay for everything with cash. Every car, apartment, grocery bill, etc... When he went to buy a house, he had a very hard time getting a mortgage.

 

[eighty6gt]

I got suckered as a young teen into buying new, but I learned my lesson in 2004 and I haven't had a car payment since. Of course, I don't get to play with the new toys when they debut, but I'm good with that. I've learned three lessons that have made my financial life stress and debt free:
1. BE PATIENT and enjoy what you have instead of getting impatient with what you don't
2. Keeping up with the Jones's will only put you in debt and make you just as broke as they are
3. It's a terrible feeling to earn a paycheck and see it go into someone's else's pocket before you get to enjoy the fruits of your labor, (car payments, credit card debt, loans, etc)

I understand everyone's life is different and there are some thing's that can't be avoided, but on the whole, the discipline I use to watch what I spend and really only, buy what I truly want (no impulse buying) has allowed me to be debt free since 2005 and I live VERY comfortably. I'm not mega rich with cash, but I am mega rich with happiness and a minimally stressed life. Please don't misunderstand, it isn't always easy, but it is very doable with the right mentality.

Did you take Yale's free course on happiness? You could have written it!

I don't regret buying my car new and doing what I did to it (full build/modifications,) because it was a substantial addition to my personal development and is the reason I have work. It was the right time for me to buy a new car, I was 28, no house, etc. Now I have house/kid/career (after some bumps!) and won't need to buy another new vehicle. Especially since I have this one, in great shape. Again, I feel a little worse for new people who are now in the position I was, who _cannot_ buy a new car, or should not. Maybe that's stupid of me.

 

[Rich]

Did you take Yale's free course on happiness? You could have written it!

I don't regret buying my car new and doing what I did to it (full build/modifications,) because it was a substantial addition to my personal development and is the reason I have work. It was the right time for me to buy a new car, I was 28, no house, etc. Now I have house/kid/career (after some bumps!) and won't need to buy another new vehicle. Especially since I have this one, in great shape. Again, I feel a little worse for new people who are now in the position I was, who _cannot_ buy a new car, or should not. Maybe that's stupid of me.

Hahaha, I was just giving my perspective on what has worked for me in my life. Obviously, everyone's life circumstances are different, but I was fortunate to learn those lessons early on in life and now as an adult I can reap the rewards, so to speak. I definitely have struggles in my life, just not with money.

I can't and don't, judge others for their decisions because I'm not walking in their shoes, but I've seen so many people throw their life away to to keep up an image and it's just not worth it. I agree with tjm73 that not all debt is bad, but unfortunately most people cannot manage it effectively because they have little to no financial training or restraint. People just buy, buy, buy without thinking about what they are actually committing to.

I tie this all in with the OP's post about S197 cars, people will buy them overpriced because they either can't wait for them to drop or they know no better. That's why their value as well as all other cars/trucks, just keeping going in one direction.....up

 

[eighty6gt]

that last paragraph is about gamestop stock or 3 valve GT's? The market shorts on 3 valves are not working.

 

[Juice]

There is NOTHING wrong with debt. But that's with caveats.

A guy I went to high school with was 100% pay for everything with cash. Every car, apartment, grocery bill, etc... When he went to buy a house, he had a very hard time getting a mortgage.

Sorry, have to disagree with "nothing wrong with debt".
Some debt cannot be avoided, but unnecessary debt MUST be avoided. I get the "not having a credit score" and having trouble buying a house. But to just spend on credit and not keep it in check is where most ppl go wrong.

 

[13v6]

Inventory is down but demand is still good so prices are up for both new and used cars across the board.

 

[tjm73]

Sorry, have to disagree with "nothing wrong with debt".
Some debt cannot be avoided, but unnecessary debt MUST be avoided. I get the "not having a credit score" and having trouble buying a house. But to just spend on credit and not keep it in check is where most ppl go wrong.

Those are exactly the caveats I mentioned. Carrying a small manageable debt and paying it off in a timely manner will help you. When I was young I was told I would never be able to have a house or a good car without good credit and to be mindful of how to protect my credit. I have and I have excellent credit. I carry very little debt. Home mortgage, 2 small car loans (one about the be paid off). I use credit cards but pay them off in full or as soon as possible.

I didn't have $1800 to pay for my daughters kittens emergency surgery. Well I had it, but didn't want to pay it all at once. My credit allowed me to pay it off interest free over 5 months keeping cash in my pocket for other needs.

Credit cards are for emergencies in my book. Or for benefits you can extract and pay them off in full.