Selling my car, need opinons
 

I am selling my 89 GT.

Can anyone suggest an asking price?

Here is the condition:

110,000 miles

Exterior Condition:
Body: Flawless
Paint: Dull / Chipped / Scratched
Trim: No Defects
Glass: No Defects, tinted
Lights / Lenses: Brand new, clear corner markers
Rust: Minor
Hail Damage: None

Interior Condition:
Upholstery: Clean
Carpet: Stained
Interior Panels: Clean
Odor/Smoke / Mold: None
Air Conditioning: Working Condition
Power Accessories or Instruments: All Operate

Mechanical Condition:
Engine: Operates: No Leaks / Noises
Transmission: Some Minor Noises / Seepage, new Ram clutch
Steering: Loose / Noises
Suspension: Unaltered and Trouble Free
Frame / Unibody: Straight, steeda sub frame conectors
Brakes: Not Worn over 50% life
Tires: Some Wear & All Match

I am being very honest, car is not perfect but engine is. How much should I get for this car? Starting price?

Thank you!!

if its stock i would go for 6,000, or 7,000 as a starting asking price, then go down from there

Thats way too much, I am selling a white 89, not the one pictured in my profile. It has 110,000 miles and a crappy paint job.

I just took a few pics to show you guy/gals what i have to work with. Keep in mind I haven't washed/cleaned it in over a year, but I will detail it before I sell.

Back

interior

engine

side view

Hey man I have a question for ya. Hpw did you make it so the speakers on the doors are exposed with the speaker grills? I was thinking of doing this for mine since it will probably look alot better than the stock ones. Thanks :)

Later,
Nick

I would say to start at about $3200 and go from there.

speakers in doors
 

Midniteblu , It's not that hard to do. I installed 6.5 inch Clarion door speakers in my '88GT. All I had to do was drill new mounting holes and they fit right in. At first I thought they would interfere with the power windows but I have just enough room.

That car is worth about $1500.00, maybe a few hundred more or less depending on the exact mechanical conditon.

I dont know where these others are getting thier numbers from?

$2400-$2000

Going, going...gone!
 

I would ask $2500. and not take much less than $2200. unless you get desperate.

The book value is about $2,000. on your '89 but this is a 13-year-old car, a Mustang V-8, and a lot of the price you get revolves around how scarce they are in your area and how badly a potential buyer wants one. Book value matters mostly when you trade or sell it to a dealer.

Lots of younger guys with small budgets drool over an affordable Mustang V-8 with a stick shift in decent condition and 110,000 miles isn't the end of the road for a 5.0 by any means (my '90 LX has 118,000 and runs mint - and I was offered $4,000).

I wouldn't ask a dime less than $2,500. Take no less than $2,000. and only as a rock bottom-no takers-desperation price.

I'm probably going to ask 3k. I am in no rush to sell it. I will just wait for the right sucker, er I mean buyer. ;)

It has some serious history. By the looks of the floor, it seems like it was in a flood or had water sitting in the area behind the front pass seat. I had to weld a new floor pan in.
If you were to do any interior work, you can tell its been gutted and installed again. The panels don't line up perfectly and the screw holes have been enlarged/stripped. it also was in a few accidents. The 5 mph front bumper is collapsed and the fog light support was bent in. The guy before me smeared bondo over all the rust spots and did a crappy paint job. its been painted at least 2 times. The different shades are visable under where the airbox used to be. The engine bay was painted flat black after the first paint job. All this happened before I bought the car.

The engine is perfect and the tranny is fine. Runs great.

The book value for a private seller to expect in "average condition" was $1700.00 with my sources.

Sounds like the car is in rough shape, so I dont think $1500 is a bad price to get.

But some kid who wants a stang with a 5.0 and who doesnt have a clue yet could very likely pay you more for it.

Good luck, but dont expect miracles. If you want to sell it, price it correctly. If you dont care, price it high...you have nothing to lose..if it dont sell because priced to high.. you keep it, if it does sell, you made some extra money.

I don't know where YOU are getting your numbers from?
You have to ask a little bit higher to allow room for negotiation.
An asking price of $3200 will leave plenty of room for him to get a fair price.
A $1500 asking price would just be plain ignorant.

I'm going to ask 3.2k and see what kind of reaction I get. I am in no rush.

Hey, let us know what you end up getting for it. I bet it's more than $1500(LOL)

He could part it out for way more than 1500...I would say around 2.7 to 3k I think.

Thanks,
DoranW

From the market, thats where. Asking for the car what the car is worth is not ignorant. Somebody who gives him $3200 for the car is ignorant.

And you dont have to negotiate. You can ask what you want and take it or leave it.

guess i was way off on my suggestion. being that it has red interior i think that lowers the value to some people. i would start at 3.000 or 3500 to start and work down from there, i wouldnt take any lower than 2300-2500 for the car though.

Cars w/ red interior like that one go for around 1800-2000 around here.

Skyler

Why so cheap. Where I live in central Connecticut, Mustangs go for $3000 or more, with a V8. i have yet to see on e GT or LX 5.0 from 1987 up asking less than $3000. We are selling an 87 GT which is bone stock, and asking $2000, and lots of people want it but noone seems to end up buying it!

Anybody that pay asking price is ignorant because the asking price is almost always inflated.
If you go with the "take it or leave it approach" then most people will "leave it"
Mach1, if you sold your car, would you set the price at your rock bottom amount? Of course NOT....that wouldn't be ignorant, it would just be STUPID

According to the edmunds, KBB, and NADA type resources, the car is worth around $1600.00 in the condition its in (steering noises, bad paint, etc...) depending on which one you look at. KBB is usually too high in their estimates, and Edmunds is more realistic.

I dont make these numbers up, just passing on the info. , and they are generally used as a guide to determine value.

Of course, you can always get more if you run into a uninformed and/or over axious buyer.

let us know what you do get. Im thinking of selling my car and debating what to ask for it also.

I think Edmunds and KBB base their prices on trade in value rather than private party sale.
You always get less with trade in value than selling it yourself.

So if the asking price ISNT over inflated and you pay it, are you then ignorant? Or are You ignorant for walking away because the price advertised was a good deal already and the buyer wouldnt come down?

Or are you ignorant because you are selling your car and you ask way too much for it because thats what you think everybody else does, so you have to do it also. Give me a break.

Or maybe you are ignorant because "you know everything" and you know the advertised price is automatically to high, so you talk the seller down a few hundred, and walk away thinking you got a good deal. Meanwhile you still payed way over fair price for the car, but since you talked him down some, you did good. Not to mention that you actually have no idea what the cars really worth? Yeah, ok.

Pull your head out, please.

We arent dealing with car dealers here, who are always priced high, but private sellers, who can price the car anyway they want it, too high, too low (want to dump quick)or right where they want to sell it at.

The botton line is, a SMART buyer (that excludes 82 GT for obvious reasons) will determine a fair value for the car in his mind and not pay any more than that, REGARDLESS of what the asking price is.

Putting a price that is $1500 to much will send most buyers elsewhere, and you lose a sale. Most people dont expect a private seller to come down $1500, because most private sellers dont overinflate that much for negotiating room. Maybe $500

But again, if your not in a hurry to sell, go high, you never know, you might get it. If not, who cares, as you werent in a hurry to sell anyway.

Edmunds, KBB, NADA, etc...also publish private party value, as well as trade in and retail.

Just as I suspected, you are misinformed.

later

So let's see.

1989 Mustang GT Hatch. 110k. Good engine. Bad paint, mismatched paint, some rust, tranny leaks and makes noise, flood damage, several accidents, hacked together interior, steering system issue.

I wouldn't pay more than $1500 for it. Sorry dude, but it's a POS. Take it from somebody who has had some. Even with a 5 lug conversion, z spec T-5, BBK high flow cats, new paint, dynomax catback, 99GT wheels, brand new P245 Nitto NT450s and an $1100 stereo system, I wouldn't ask over $3000 for my 87GT. If I were to look at my car, I know I wouldn't pay more than $2500 for it. Maybe $2k as it sits right now, and I know I can part it out for more than that.

Exactly! Finally somebody who can call it like the see it. Thanks Unit.

I wouldnt even give you $1500.00, and would consider yourself very lucky if you can get anything over that.

You can always sell it to 82GT, he thinks its worth double that.

good luck

Hey, You don't have to tell me its a POS, I drove it for a year and a half! BUT all of the accidents/flood damage has been fixed like new, exept the paint. Everything else structurally is fixed, striaght chassis/body, etc. It was never in major accidents, just a few fender benders (literally). The paint just looks bad, with some rust. It will look a lot better once I clean it up. It has been sitting for a year. And the steering isuue: I replaced the rack/tierods/shaft. The loseness is in the tilt steering joint, its really cheap, I will prob fix before I sell.

You guys have been very helpful. Just the fact that a couple people said 3200 proves that I can get 3000. I am in no rush to sell it so I will ask $3200 and not sell for under $2800. I will just have to wait for the right person.

Used Mustang prices
 

RPM427:

As this thread has shown, the resale value of a older Fox bodied Mustang is very hard to pin down.

Condition is very important but so is mileage as well as mods or lack of them. Where you live and how scarce or common Mustang V-8's with a 5-speed are is also a big part of the deal.

The so-called 'Book Values' are just a guide and mean little on a 13-year-old car with high mileage. NADA is the real bible, anyway, not Kelly or Edmunds.

Almost any car over 12 years old, decently running and that can pass a safety inspection is worth $500. - $1500. depending on type of vehicle, i.e. a Mustang convertible is worth more than a 2WD Nissan pickup and a working 4WD pickup is worth more than a Escort and so on.

Beyond the fact that the car runs normally and isn't rotted out or otherwise structually damaged the value placed will have a lot to do with desirability and availability.

Read Hemmings. A '55 Chevy 210 with a six and Powerglide is worth a lot less than a '55 Chevy Bel Air convertible with a 283 power pak and a three speed even if they are otherwise identical in condition. Desirability.

Same with modern-day older cars. A Mustang GT with a good running 5.0 and the coveted T-5 (factory) is very desired in many areas of the country and with the price of late model Mustangs being in the high teens, a $3,000. Mustang V-8 looks pretty good to a lot of folks who have been wanting one for a long time.

Some people prefer the Fox body style and lets face it, although they made hundreds of thousands, they are drying up a little more with each passing year and there are only so many 5.0's with 5-speeds around and no more will be made.

I could get $4,000. any day of the week for my Strawberry Red metallic '90 LX in mechanically excellent and otherwise good condition all around. 5.0, 5-speed with light mods. One owner, 118,000 miles. I've had offers but it's not for sale.

Bottom line is that $2500. for a '89 Mustang GT 5.0/5-speed in decent if not mint condition is not unreasonable and what I would ask. If you can get more, go for it. I wish you well.

Let us know how the sale goes and what you actually get. I'm interested.

To get an idea of the market here on Long Island:

I paid $6,700 for my current mustang (91 GT). 65,000 miles, stock, MINT condition, looks runs brand new. I have gotten offers for it ranging between 6-8k (before all the mods) while filling up with gas or in some parking lot. I have also been told by many people that I have gotten a good deal.


That just gives you an idea of the price of a good mustang.

Forget the book value. Someone will pay what they believe the car is worth to them. According to the book at 15K a year, it should have 195K. What the person is buying is a mechanically sound 5-speed 5.0 that is a little rough around the edges. To me, that has to be worth at least $2K. Any 89 5.0 you get, no matter how nice the paint, will need a considerable amount of work sooner or later.

If I were you, I would ask $3K and since you aren't in a hurry, take the first $2.5K someone offers. If someone gets real excited about the car, you could easily get 2.5 but I wouldn't count on it. I would think you would get plenty of $2K offers so if you get desperate, that would be the least to take. I wouldn't ask more than $3K cuz that will scare folks away and they won't take you seriously. This is Chicago talking and I don't know what the NY 5.0 market is like.

What did you say about the steering? I have a new rack but it is still loose, what are you going to replace to fix this?

Thats the plan!!!

As for the steering:

It took me awhile to find out where the loseness was coming from. I was so f****** pissed when the new rack didn't help.

Reach under the dash and grab the steering shaft, you may have to dig a little. now turn the steering wheel gently and slowly, back and forth. Its kinda hard to explain, but you will know once you get under there. You will be able to tell if the loseness is past the shaft or before it. If there is no play, then its in the rag joint in the shaft (assuming the rack is new). If there is play, then its in the rack. The play in my car is at the pivot point where the steering wheel tilts. It a universal joint with pins. The part is about $40 from ford but is a pain in the *** to install. You can take all the trim and combo switch off of the steering rack to get a better look if the play is above the shaft.

Egads...cars like this make me want to NEVER EVER EVER buy a used car again :D, especially if you choose to slyly NOT disclose the nature of the water damage, etc.

Regardless if you have fixed it or not, I feel that's something that a future owner should know...Some people are real winners though, and believe that if the potential buyer is "too stupid" not to see the repairs, then they don't deserve to know. :rolleyes:

I worked for a used car dealer as inventory manager, and I find that NADA prices are fine tuned in the dealer's benefit. I would never use their figures to buy a car from a private party. Edmund's is indeed more realistic, and KBB is for well wishers :D

I would say $1900, if you truthfully disclose the history of the car. If you choose not to, may Karma be looking elsewhere next time its time for YOU to step up to the plate as the buyer, instead of the seller ;)

I agree, the negotiating gets real old real quick, and frankly I feel its a total waste of time. I buy from a PRIVATE PARTY to avoid all the droll dealer BS (read: NEGOTIATION) :D I'd price my **** $200 more than what I want. You try to get less than that, feel free to shut the door on your way out ;)

Used car values
 

Mustangbelle306:

I still contend that 'Book Values' (no matter who's book) are near-useless on 13-year-old cars, especially niche vehicles like Mustang V-8's.

The Book Value for my '90 LX is around $2500. retail, $1700. wholesale. Yeah, right.

I could get $3500. - 4500. any day for a car the 'book' claims is worth thousands less.

For what it's worth, I have some backround in the car business. I've sold both new cars (Fords) and used and still have connections with a used car dealer that I help out every so often, going to auctions and driving cars back to the dealership for him. I've bought and sold many cars.

Desirability, availability, condition, mileage and demand all make up the real price one can get on old cars, past being realistically evaluated by 'Books', NADA or otherwise.

When buying a used car from a private party, the integrity of the private seller is always in question and should never be taken for granted. That's why you should avail yourself of CARFAX and try to put the car on a lift and look around.

Caveat Emptor always applies when buying anything but especially a 1989 Mustang with 110,000 miles.

Re: Used car values
 

I totally agree with you. Published market values never seem to hang with selling trends for Mustangs, especially Foxes.

Theres no question that NADA and KBB are numbers the dealer wants you to believe, and thus pay the listed price in the book, thinking you are getting a good deal, and actually paying thousands to much.

This is why I say Edmunds is more realistic. The prices they list are considerably lower than others at times, and more closely resemble the cars "real value", not the overinflated value that gets printed in the NADA and KBB for the dealers to leach off of you with.

MACH 1 , I guess it's true then. Your reputation precedes you!!
Ignorant, obnoxious, rude and yes, sometimes, like now, a complete *******!!
I don't know why but you just can't ever seem to answer a post without an attitude. Right now I have one because you pissed me off.
All the replies made to these post are opinions of the readers and they are entitled to them. MACH 1 , on the other hand, feels superior to the rest of us and thinks he knows it all.
Hell, why bother posting on the message board when we can just email you for all the answers.
If it makes you feel better to put other peope down then that's your problem.
I also guess that everyone else that replied with an estimate is stupid and below your intellect because they are all above your $1500 price.
I also recall saying that I would start at $3200 and go from there. I didn't say it was worth $3200
You should feel proud MACH 1 , you have lived up tp your reputation!! They ruined a perfect ******* by putting teeth in your mouth!!

Bottom line is, anything is worth what you're willing to sell it for or what somebody else is willing to buy it for.

I find nothing wrong with Mach 1's statements here. The only statements I really have an issue with is the idea of taking advantage of some young kid. Were you not a young kid once? I've been screwed on cars before, and it can really mess a persons plans up, bad. Ask a fair price and leave the screwing to the lawyers.

Here's what I know from buying 6 different Mustangs, and 9 cars overall. The dealers are usually the best places to find deals on Mustang GT's in the fox era. They don't think the POS is part of the family, and they just want the thing off the damn lot.

If you want it to sell, price it to sell. Nobody wants to negotiate a lot on a heap. If the car is worth $1500, as in this case an accurate price for a car with shoddy bodywork, underbody welding, crappy paint that doesn't match, a questionable tranny, shot carpet, poorly fit together interior, and hidden damage from accidents, then I think asking $3200 will more than likely

1. Tick people off for wasting their time when they come out to look at a $3200 car and find a $1500 car. (It'd tick me off)

2. If accurately portrayed on the initial phone call, nobody will come and look at it.

I drove 200mi from Ardmore, OK to Tulsa, OK to look at a 1987GT Convertable priced at $3500. Long story short, it was comparable to what is listed by RPM 427. I was irate that I wasted my time. I didn't even bother test driving it. I felt sorry for the kid though. He had been in an accident (friends car) and was on crutches. He lost his job because of it and needed money badly. That's pretty much why he had the car priced the way he did.

Best way to sell a car? Price it at what you truely feel market value is, or a little less. If you don't think the price it where you want it idea works, you need to buy a few more cars. I don't like negotiating. I like to know what somebody wants so I know whether I can get it, and I know what I'm really gonna be looking at. IE. Mustang priced at $5000/OBO Now means $5000 or maybe $4700 if they feel like taking. OBO is just a little tag on the end saying make an offer, and maybe I'll take it. Mustang priced at $4000 firm. Which am I gonna look at first? LOL. Not even a question, the $4k car. Why? I don't want to waste my time on a potentially good deal by bargaining with a guy who may not go that low. I tend to do a little market research before I buy.

Damn, Mach you had a rep and I wasn't privy to it?? :confused: ;) Sounds like locker room gossip ala MW! :rolleyes:

1500-2000 dollar car

Lmao..Yeah, 82 GT's complete ignorance and lack of temper control doesnt even deserve a response. Its all out there for anybody to see if interested in who started the name calling.

later

The car was taken to a proffesional body shop to have the front end and floor pan fixed. That was when I thought I was going to keep the car for a while. Then about a month later, someone backed into it at a supermarket and put a huge dent above the wheel well on the drivers side fender. I replaced the fender myself and the body shop (not the same one) did a bad job of matching the paint. After fiquring out how much it would cost to do a really nice paint job and convert the interior to grey or black (I HATE red), it was more economical to just buy a newer car that had good paint and perfect interior.

That stuff about the flood damage and accidents was just some history about the car, not its present condition. I just wanted to make that clear.

I am not going to lie about the condition, I am not expecting to get $3,200 for it. I am in no rush and would rather try and sell it at $3200 for a week or so to test the waters. I WILL be honest, the last thing I want is someone driving back to my house and telling me its not what he thought. If people laugh at me when I say 3k, then so be it. I will ask less.
I'd rather start there then find out i could of sold it for 2.5k rather then starting the price at 2k.

Well good luck! One man's trash IS another man's treasure :) Hopefully your Stang will find a good home for a price that pleases both buyer and seller :p

Selling the 'Ol Stang
 

RPM427:

Just a reminder:

Be certain to tell the buyer and write on the receipt you give the buyer of your car: No Warranty - Sold As Is.

Once that car leaves your property and the money has changed hands, you don't want to be hassled everytime the car has a problem from that point on and at 110,000 miles, it will and we all know it. So should the buyer. It's a 13-year-old car with high mileage on it.

I sold a lot of older cars (privately) and always made it clear that I'm not a dealer and I can't guarantee anything on an old car with over 100k. It may run great today and pop a head gasket tomorrow. Chance you take on a car priced at ten percent of what a new car costs.

Unit has a point; I always price any car I sell as 'FIRM'' which means: no deals, take it or leave it at that price. Never had a problem.

Obviously everybody has a number for you (sounds like the old game show, 'The Price is Right') but an ad is cheap. Price it at what you think is possible ($3200.) and see what happens. If you get no takers or potential buyers laugh when they see the car then lower the asking price but you should get $2,500. if you're not in a rush and clean it up to the best shape possible.

In my opinion, the factory T-5 is worth an extra $500. alone. I've seen posts here from folks desperate for an older Mustang and they cry about not being able to find a stick shift on the market.

You'll do fine.