Unreal depreciation

[midtownz06]

I bought a convertible GT premium in mid May for MSRP at $68k. It's in race red, has NPP, PP, Magnaride, 401a, and just over 7k miles on it. I'm looking to sell it or trade it in for either a fastback or something with 4 wheel drive. I thought I'd be moving to a warmer place for winter but the job fell through. The best I'm getting offered is 42k with Carmax, everywhere else has tried offering me mid 30s! Even the KBB is about the same. I see similar cars to mine, mostly without the PP or Magnaride, and with more miles, selling for way more. Can anyone tell me why mine in particular has depreciated $25-30k in only 6 months? Biggest gut punch ever, and I can't figure out why mine has been cut in half so soon.

It’s not a dark horse is all I can think. This is fairly normal depreciation we are just used to 2022 prices. Also carmax is a low baller. Sell private party

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[jjsgroi]

I bought a convertible GT premium in mid May for MSRP at $68k. It's in race red, has NPP, PP, Magnaride, 401a, and just over 7k miles on it. I'm looking to sell it or trade it in for either a fastback or something with 4 wheel drive. I thought I'd be moving to a warmer place for winter but the job fell through. The best I'm getting offered is 42k with Carmax, everywhere else has tried offering me mid 30s! Even the KBB is about the same. I see similar cars to mine, mostly without the PP or Magnaride, and with more miles, selling for way more. Can anyone tell me why mine in particular has depreciated $25-30k in only 6 months? Biggest gut punch ever, and I can't figure out why mine has been cut in half so soon.

I got mine in April this year exact car you got 68000 retail had 832 miles for 55000 guy didn't want it because of crazy dash screen

 

[midtownz06]

Also you will be just fine driving a vert in winter, just get good tires.

 

[10basscat]

The car market like most things is in constant flux. Supply and demand is one of the biggest drivers. When new cars are getting big markdowns used car prices will suffer-it’s not rocket science. For example I was trying to trade in my wife’s Bronco 1 yr ago with 6k miles on it and I was going to get 54k for it. The new one wasn’t getting anything off MSRP. This week I traded it for 44k with 13k miles but the new one was $9,200 off MSRP! So the trade was down 10k but the new one was marked down almost as much. It wasn’t long ago the lots were mostly empty-today they are full and it’s a buyers market. Don’t stress over it-if you’re determined to trade just be patient and I’m sure you can find a deal you will be happy with. Good luck.

 

[robvas]

Also you will be just fine driving a vert in winter, just get good tires.

Salt corrosion will really bring the value down

 

[midtownz06]

Don’t think it will attack at 8mo old Mustang long enough to matter if he sells it in a couple years?

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