Wanting to buy SRT-4........

[MustangGT04]

Hey everyone,


I have been looking at the SRT-4s and i really like them. I had a question though about getting one. I have a 2004 Mustang GT right now which i still owe $12,000 on. What kind of trade in would i be looking at as far as the SRT-4 goes? Could the dealer more than likely work out some kind of offer with me? The Mustang has 2500mi on it, a 5 speed, leather, and is obvioulsly mint. I would like to hear everyones opinion. Thanks


Nick

[Scottcba1]

Welcome to Dodgetalk!

Is that your first mustang? If not then you know mustangs have next to nothing when it comes to resale value. If your lucky you will get a dealership to payoff what you owe on the car and they will still dig into your pockets for a down payment. maybe, just MAYBE if you find a good dealership you might be able to squeek out them paying it off a a thousand or two for a down payment so basically all you are doing is going from payments to payments with nothing out of your pocket. That would be your best case scenerio.

The SRT-4 is a badass little car. It will out perform your mustang AND get better gas mileage and do it all at a lower price....thats hard to come by. Sounds like your making a good choice! :D

Good luck with the switch and keep us posted!

-Scott :cool:

[MustangGT04]

hey,



Thanks for the reply. On the second scenario you list there, are you meaning they might trade even up??? Or do you mean something else? Thanks.

[Scottcba1]

I dont mean they will give you an SRT-4 for free.....I mean they will take your mustang pay off your existing loan and MAYBE just MAYBE give you an extra $1000 or $2000 for your mustang so that you have a down payment. I honestly would walk into the dealership thinking the first situation was gunna happen then you will be surprised when nothing comes out of your pocket but better safe then sorry and have $2000-$2500 as a down payment ready.

Good luck!

-Scott :cool:

[lrl1990]

I bought a SRT-4 and I must say it is a great car and Mopar offers A LOT of things to upgrade the power and apperance. You won't be disappointed

[04SRT4]

I just bought an SRT 4 myself, and I'm not disappointed.

[DaisyCutter]

Mustangs have no resale value?

Where I come from Mustangs hold their value way better than Neons. In fact, a good deal on a used Mustang is real hard to find. Year old Neons are everywhere for $7999.

The sticker price for a new Mustang GT is ~$25,000
The sticker price for a new Neon SRT-4 is ~$21,000

The Mustang will always retain more value than the Neon. A clapped out 10yo Mustang is still worth $6-7K. In 10 years the Neon will be worth half that.

I'd keep the Mustang if I were you. You are going to throw away a lot of money trading it off so soon after purchasing it. Wait a couple years and you can buy the coolest thing at that time. I doubt it will be a Neon.

[Scottcba1]

Daisycutter, where are you located? Mustangs are notorious for the value dropping out from under them and always have been. Look on ebay or in a newspaper and you will see 2002, 2003 GT's for 12-14k with low miles on them....pretty crappy for a one or two year old car.

What you say about neons is true, their value does drop out from under them as well BUT the SRT-4 being different from a stock neon and having a much lower production number then a base neon helps it hold its value alot better just like a 2003 cobra would. The better years for performance and new setups will hold their value better then a common model with no change in the line up. Does that straighten things out at all?

-Scott :cool:

[TripleXJ]

Hell a freind of mine bought a 2002 Mustang BRAND NEW and when he turned around and sold it a yr later all he could get out of it was $11,000 and it was in perfect shape even had a couple upgrades to it and had less that 15000 miles on it. So ya can't say Mustangs Value drops.

[DaisyCutter]

I guess your friend's deal must be representative of the entire world's, huh.

I live in Arizona. I just did a search on www.autotrader.com

Ford Mustang, 2002-current, priced under $14,000, any color or trim.


Within 100 miles of Phoenix, there was only 1 (one) 2002 or newer Ford Mustang GT listed under $14,000. It was a 2002 model with 47,000 miles and the private seller was asking $13,900. Generally private sellers can't demand a price as high as a dealer and 47K ain't low miles.

The average price of a 2003 Mustang GT within 100 miles was over $20,000. I gave you the website. Where I come from the Autotrader IS THE FOREMOST media for finding a used vehicle.

As far as I'm concerned either ya'll are full of BS or econimics is vastly different where you live. In my area a Mustang is a VERY desireable vehicle. The same applies to Jeeps.

If I could find used year-old V8 Mustangs for $11K-$12K, I'd pull out a 2nd Mortgage and buy one for each day of the week.

[Scottcba1]

Wow then I have to start buyinf these things and shipping them to AZ because those numbers are outragous! These cars are a dime a dozen. You cant ask much for them(I guess only on the east coast) because everyone and their brother has one for sale and they will under cut you to sell theirs.

The funny part is even the dealerships around here are selling them low because they realize they will have a very common mustang on their lot for a long time if they tried to get fair value for it.

As for me being full of BS.....ask around, I have been here for a while and my number of posts show how active I am. I am hear to help people and to give information. Ask people if I have helped them or if I am full of BS.

-Scott :cool:

[Scottcba1]

BTW, I went on that site you talked about and did the same search for my area....with in 100 miles and under $14000 their are 186 cars, between the model years of 2001-2005, listed on that one site along. Just goes to show how one side of the country is completely different from the other side.

http://www.autotrader.com/findacar/results.jtmpl?model=MUST&start_year=2001&end_year=2005&min_price=&max_price=14000&distance=100&advanced=y&advcd_on=n&make=FORD&address=08527&search_type=used&x=67&y=9

-Scott :cool:

[wod01]

Did a search for here in Wisconsin.....Plenty!
But, alot of the $10,000 ones have a crappy V-6. Gt's are going for $17,000 - $20,000 at the stearlerships. I think if I could find a GT for $10,000 I'd buy one too.

[DaisyCutter]

As I wrote in my previous posts, I was comparing and pricing Mustang GTs to the SRT-4, not V6 pustangs.

Between guns, dirtbikes, boats, and my Hemi, there's only so many forums I can be active on. Pardon me if your post count doesn't intimidate me.

At some point do you get to cash-out that post count? Say at $.05 per post?

[hemibass]

here in det the newer ones are a dime a dozen put the fox style are the ones getting the money i have had 2 mustangs a 88gt and a 96 cobra and i made good money on both. if i could fit in one i would buy one but being 6'10 not going to happen :D


chuck

[Scottcba1]

DaisyCutter ,

For being the newer member you sure do speak with alot of attitude and just a little hint of advice....that isnt gunna get you far around here.

I was not trying to be little you nor was I trying to intimidate you. I was simply informing you that I dont come on here to "BS" or lie and that you can ask around the site and see what people have to say about me.

I mentioned my post count to show that I have been here for a while and that I dont just drop in to insult people or to disagree and cause an arguement, I post to help people and to inform people. I dont think I would have been picked as a moderator if my posts were full of "BS".

If you hear to learn more about your hemi power vehicle and to help inform members of this community then you have come to the right place. Just keep in mind other people from other parts of the country may have seen, heard, or have been part of something that is different from what you say and MAY disagree with your points or comments. If this does happen please dont take offense. If you cant take a comment that disagrees or doesnt follow your comments, dont think they are trying to be little you.

I hope you stick around with us here at Dodgetalk, you will soon realize this site is filled with great members with great info that are always willing to help one another out.

-Scott :cool:

[hemibass]

well said scott

[TripleXJ]

Tell him Scott

[DavidRo]

Very Classy Scott!!

[Pete04]

Hey guys I’m new and not out to cause any trouble. I agree, Mustangs, unless their Cobras or Mach 1s do not hold their value well. However, I just traded in my 03 Mustang GT with 25k miles for my 04 HEMI Ram and got what I owed on it. Kelly blue book had it listed for 13k trade in value. That is exactly what the dealership first offered me, however, after negotiating for over 5 hours. I got them to give me exactly what I owed on it, which was $16,200 as long as I gave them 1k down. So I wasn’t affected by negative equity. I considered myself the exception and not the norm. I was surprised to get what I owed on it, however, they wouldn’t let me leave the dealership and I wasn’t going to let myself go into the hole. It was either they gave me what I wanted or I was leaving.

Guess it just depends on the situation. Anyhow, to the original poster, you should at least get what you owe. Your in a good position, your car is under 3000 miles, an 04 and you owe less then 12k. In fact I wouldn’t take anything less then 15k trade in for your car. The SRT-4 is a fun car to drive, friend of mine has one. Good Luck.

[six pack]

Well put Scott :cool:

[Scottcba1]

Thanks for the reply with great information Pete, and welcome to Dodgetalk and good luck with the new truck!

-Scott :cool:

[Pete04]

Thanks Scott, nice rig!

[TradedBenz4Hemi]

Hu-Rah Hu-rah, Scott.......never seen a better "PUTTING THEM IN THEIR PLACE" As politely as yours was.

[own3d]

I had mine for about a yr. no probs..

[hemi operator]

Right off the bat, a 1 year old (or less) 2003 SRT-4 loses over $7,000, depending on what you paid for it according to Kelly Blue Book assuming an original price of $20,000. KBB for excelent condition w/ 20,000 miles is about $13,000

A 2003 Mustang GT loses about $9,000, assuming an original price of $24,000. KBB for excelent condition, basic GT 5-spd w/ 20,000 miles is about $15,000.



The Mustang retains a higher % of it's original cost using these numbers. Of course a basic Mustang GT which I used for an example could be had for about $20,000 out the door from most dealerships, so the actual depreciation is even lesser still.

Just my opinion, but I hate front wheel drive and don't care about the Neon being faster than a basic GT. Give me a nice rumbling V8 with rwd anyday!

[cargenuis]

I can't believe what I'm reading, did I get linked to some Honda forum?? The flaming here it unbelieveable! I for one love dodgetalk because no one, and I mean NO ONE flames each other. Everyone is really nice and I like that. Lets cut the 2nd grade crap.
Secondly, lets stop raping this guys post and actually answer his questions instead of seeing who has the bigger testicles.
FACT: Mustangs don't have good resale value
FACT: Neons don't have good resale value
FACT: The SRT-4 IS NOT a Neon
Look at like this- a 2004 Mustang GT V-8, bone stock, base model, no options, will cost around $25,200 if you find a good dealership. An SRT-4, bone stock, no options, will cost $21,100. Big difference. Okay, the Stang has a V-8 and 30 more ponies under it's heavy-as-your-fat-mother-in-law's chassis. The SRT-4 has a boosted 2.4 liter 4 banger, cranking ut just 30 horse shy of the Mustangs "big" V-8. And don't even start on the torque. And, just because the Stang is RWD doesn't mean anything. The SRT-4 can run 0-60 mph in 5.8 seconds, the Stang would kill to do that.
Here's another point: A 2004 Ford Mustang GT against a 2004 Acura RSX Type-S through the 1/4 mile is considered a drivers race- i.e. shifting, launch, etc. The RSX Type-S has only 200-hp and makes less torque than an air wrench. That's 200 CRANK horsepower, mind you, where the SRT-4 has been shown to lay down 223 horses AT THE FREAKEN WHEELS. An RSX Type-S makes 123 lb-ft of torque at the wheels. Come on.
It's not that the Stang is a bad car. Well, yeah, it is, but that's not the point here, the point is the SRT-4 is a better overal vaule, factoring performance, cost, miles per gallon (in which it owns the Stang), RESALE value, and plus, you can drive it in the snow (Dasiycutter, I know you live in Arizona, so you probably don't what the hell snow is- it's this white wet substance that comes- oh wait, you're gonna get this confused with something else).
Point- trade the Stang to a good Dodge dealership, explain to the salesman your situation, and go home with a shiney new SRT-4 that you will love.

Dave

[hemi operator]

Not to split any more hairs, but $25,000 is about sticker on a basic GT Mustang. Factor in the rebates and discounts from Ford and the dealership, and you're looking at barely over $20,000, maybe less if you score some extra sweet deal. If you had $25,000 on hand or ready to finance, you'd have no problem driving off in a Mach 1, which stickers for about $28,000.

There really is no comapring these two cars directly. You either want one or the other. The speed and quickness of the Neon SRT-4 are very impressive. However, and it's just my own opinion, front wheel drive sucks. Torque steer sucks. Throttle-induced understeer sucks. Engine braking-induced understeer sucks. The weight balance sucks. (The mustang isn't too much better in that respect) I also don't like 4-doors. Everyone has their own preferences and needs. The Neon SRT-4 is a great combination of toy and practical car. The Mustang GT definitely leans much more twards the toy side of the line. Living in Arizona however, this may not be so true, where it is dry and sunny most of the time. The 4.6 in the Mustang is also a proven motor, and with basic maintenance and minimal abuse will last over 200K without major problems. To me, the Mustang is just "more" of a car than the SRT-4, meeting my preferences better. Again, opinion, which is different for everyone.

In the end, it all comes down to visiting a dealer and feeling them out. I really don't see a very economical way to make the move, but maybe you have the money to throw in there, and don't mind doing so to move into a car you like better. That's your business, not ours. I generally fight with dealers until they come within a couple of hundred dollars of the Kelly Blue Book trade-in value. Of course, the dealerships have their own trade-in value guide. Graves is a popular one. It starts out with the same basic value as KBB. For every option you DO have, KBB adds money. For every option you DON'T have, Graves subtracts money. My experience is they start out offering you about $2,000-$3,000 less than KBB or Edmunds.

[cargenuis]

I'm not trying to start a flame war, and I respect your opinion. However, just over 20 grand for a brand-spaken new Mustang GT? My brother, who lives in Ohio, just got a 2004 Mustang GT weeks ago. He got it 5-speed, leather, and the Mach 1 sound system (which is awesome) and he paid $26,890 after some serious haggling. He didn't trade anything in, either. But near 27 grand for his Stang, which he is convinced it a good deal, is far from just over 20 grand for a Stang GT you quoted. Granted, it may be different where you live, and the options may differ and you may have connections with a Ford dealer, but a $7,000 difference is a big difference.
If for 25 grand how can get a Mach 1 my Bro would have without a doubt. In fact, he looked at a few Mach 1's after decided the Cobra was too expensive, and the dealer was going to sell my Bro the Mach 1 for 30 grand out the door. If you can get a Mach 1 in Arizona for $25,000 my brother and I will get 2 airline tickets to there and he'll purchase on off the lot and drive it back to Ohio.

Dave

[hemi operator]

Quirk Ford, Braintree MA (http://www.quirkcars.com/specials/ford/ad2.htm)

Those are no-sh!t prices. I've bought from them before, twice, and almost a 3rd time. Ford gives $2500 right now cashback on Mustangs, including the GT and Mach 1. Now subtract a couple of grand or so for dealer discounts/cash-back/incentives. An easy $5,000 off sticker. The GT starts at under $24,000 and the Mach1 starts at just at $29,900. There's your $20,000 GT and $25,000 Mach1. Like you say, maybe Mustangs are just cheaper here in New England due to our wet and snowy weather 6-7 months out of the year.

[cargenuis]

well i'll be damned.......
maybe my bro can get rid of his new Stang (only 102 miles) and go get one of them. I do think different regions/dealerships alter prices. Anyways, all I can say is the SRT-4 cost the same and will still outrun a Stang, and have lower insurance cost. But oh well

Dave

[trey_dogg3]

I just did a trade in value search on kbb and it said 17,950 for his mustang.

[trey_dogg3]

Also I have gotten at least a 1000 more on the past 2 vehicles that I have traded in.

[Jinxmasta]

I live in North Carolina, and I've seen many 2001-2003 Mustang GT's with around 20k miles selling for around $13,500-$15,500, which is A LOT less than what they cost new.

[stripped302]

Around here Mustangs bring in good money, I had a 2002 GT bought in late 01 and traded it middle of 03 for a Ram and got 17,200 for it. Not offend anyone dumbest mistake I've ever made,not only was the truck stolen but once your used to a sports car you always want one again. Also I've had a 87 and an 88 5.0 LX and sold them for a good amount of money. I'm now looking for another car and want either a nice used Mustang but might have to get a SRT-4 because of harsh MI winters and fuel econ,but cant find a nice V8 Stang for under 10k 87 or newer and for 99 and up nothing with low miles for under 13k in nice shape.