Selling my car, need opinons

[Mach 1]

Originally posted by 82 GT


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.

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.

[sn95gt19]

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.

[Skyman]

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

Skyler

[25thmustang]

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!

[82 GT]

Originally posted by Mach 1

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.

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

[Mach 1]

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.

[82 GT]

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.

[Mach 1]

Originally posted by 82 GT


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

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.

[Mach 1]

Originally posted by 82 GT
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.

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

Just as I suspected, you are misinformed.

later

[Unit 5302]

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.

[Mach 1]

Originally posted by Unit 5302
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.

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

[RPM427]

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.

[Mr 5 0]

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.

[RPM427]

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.

[Johnny Fort]

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?

[RPM427]

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.

[Mustangbelle306]

Egads...cars like this make me want to NEVER EVER EVER buy a used car again , 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.

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

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

[Mustangbelle306]

Originally posted by Mach 1


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.

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) 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

[Mr 5 0]

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.

[Mustangbelle306]

Originally posted by Mr 5 0
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.

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