Shocker: Dealer won't buy back car at same price

[supe]

Dear Terry,

My husband purchased a Ford GT500 for $30,000 over the sticker price. He called this conceived value. However, when I requested that my husband sell the car back to the dealer immediately, the dealer said the car no longer has the same value. Is this a deceptive practice and is there any recourse?

-- MKennally

 

ear MKennally,

You have run smack into the modern-day mania of banking on future collectible value for a new car. Buyers, who see that 40-year-old Shelby Mustangs are bringing prices comparable to luxury houses, are spending huge sums over the sticker price for the 2007 models.

 

This, of course, overjoys dealers because of the $30,000 your hubby paid -- and the already built-in markup associated with the base sticker price of about $41,000 for the coupe version.

 

This isn't deceptive pricing; it's the result of supply and demand. There are more guys like your husband who want the GT500 than there are cars being produced.

 

But all is not lost. There appears to be a strong resale market on eBay and other sites for the GT500, and you can perhaps recoup a significant amount of the purchase price by selling it yourself.

 

And, not to be morbid, Carroll Shelby, the man whose legend is giving these cars their aura of collectibility is in his 80s. There probably will be a narrow window after his death when anything with his name on it will jump in value.

 

So keep an eye on the obituary pages.

 

KEEP THE CARAND SELL THE WIFE

[Dropping__Chronic]

30k over?

 

wow

 

You could buy a whole lot more car than a GT500 for 70+k.

 

wow some more.

[Secondo]

30k over?

 

wow

 

You could buy a whole lot more car than a GT500 for 70+k.

 

wow some more.

No other car on the planet has the charisma of the GT500. 70k is cheap compared to many foreign cars that cost much more with less to offer.

[Dropping__Chronic]

No other car on the planet has the charisma of the GT500. 70k is cheap compared to many foreign cars that cost much more with less to offer.

 

I am a huge fan of it, don't get me wrong, but 30k over? I'd probably go without it... That's 3/4 what the car costs pretty much... It's a great car, but seriously...

 

I'm playing the waiting game, I'm sure they will come down in price to some reasonable level. I just wish the average guy, the guy that can afford a 43k car, had a shot at this car as Ford intended. Ford didn't release this car so the dealerships and people with more money than patience would buy them all up for any price.

 

It's depressing sometimes, but I'm a patient man.

[eci]

No other car on the planet has the charisma of the GT500. 70k is cheap compared to many foreign cars that cost much more with less to offer.

Ford apparently thinks it's worth around $44k as a retail price. If they felt it was worth more, they'd be invoicing dealers for more. $70k is is not "cheap" for a Mustang.

[crispy23c]

Not disagreein'. Point is that NO dealer would pay for any car (unless it's unique and they have another buyer lined up) what they sold it for. They would not be in business if they did. That's why it's called "Business" and not "personal".

I think $30 over is pretty steep, and I absolutely love these cars. If the guy opted to pay that much over, then he should realize that he wouldn't get it back, and not bank on the death of an individual for profit. That would make him a 'vulture'.

[KingCobra666]

Sounds like HES not unhappy with the car SHE is LOL. The future collectability of these cars is a total unknown so if you gonna throw down your hard earned, you have to do it car because you love the car. If I was that guy, I would drive that car like I stole it and never look back. You only live once. Hopefully he didnt do anything stupid like mortgage his house to buy it.

 

KC666

[ShelbyDude]

One can only imagine the line of crap that this poor guy swallowed while being manipulated into paying 75 grand for a 45K car. How anyone could do that is simply amazing. Five minutes of honest, objective financial advice prior to his making this hideous decision would have saved him the pain of parting with tens of thousands of dollars and essentially flushing it down the toilet. It would be interesting to know what the dealer who smoked this guy actually offered him for the car.

 

 

Give me a break! You would have to be a complete and utter moron for someone to manipulate you into paying $30k extra for anything!

 

What makes you think he was manipulated????

 

Some people have more money than brains. That doesn't mean they were manipulated.

 

A dealer slaps an ADM of $30k and someone says, I'll take it! That means they were manipulated????

 

Gee, I wonder how the three customers that paid $125k each for one of these cars? I had heard that some dealer in CA got 3 of these and priced them at $125k each. At the time I heard of this I was told they sold two of the three for the $125k and had one left. I can only assume if they got the $125k on the first two then they probably got the same on their 3rd one.

 

If I remember correctly I think it was a dealer somewhere in San Diego. Now I gotta believe that anyone with the means of paying out a $125k for anything would be the type of person that isn't easily manipulated. They might have sh*t for brains, but I doubt manipulative.

 

BTW, there were a LOT of these that sold for $30k over. LOTS! Heck, we had about 20 calls per day from dealers right before this car came out and they all were offering $20k over just to buy our allocation. There were a lot of dealers that bought this for $20k over when they first came out. That is because they had buyers with deposits willing to pay a lot more! Man, if you are telling us all those dealers were that GOOD in manipulating all those buyers into paying $25k - $35k over before ever having the car their to sell on the spot, then I need to go get me some of that great training!!!! Man, they are GOOOOOD!!!! LOL Yeah right!

 

BTW, is the DR in your screen name just part of your screen name or are you really a DR? Now there is a profession to talk about manipulating people out of their hard earned dollars! Talk about a profession with a license to steal!!!!

[VNMOUS1]

Give me a break! You would have to be a complete and utter moron for someone to manipulate you into paying $30k extra for anything!

 

What makes you think he was manipulated????

 

Some people have more money than brains. That doesn't mean they were manipulated.

 

A dealer slaps an ADM of $30k and someone says, I'll take it! That means they were manipulated????

 

Gee, I wonder how the three customers that paid $125k each for one of these cars? I had heard that some dealer in CA got 3 of these and priced them at $125k each. At the time I heard of this I was told they sold two of the three for the $125k and had one left. I can only assume if they got the $125k on the first two then they probably got the same on their 3rd one.

 

If I remember correctly I think it was a dealer somewhere in San Diego. Now I gotta believe that anyone with the means of paying out a $125k for anything would be the type of person that isn't easily manipulated. They might have sh*t for brains, but I doubt manipulative.

 

BTW, there were a LOT of these that sold for $30k over. LOTS! Heck, we had about 20 calls per day from dealers right before this car came out and they all were offering $20k over just to buy our allocation. There were a lot of dealers that bought this for $20k over when they first came out. That is because they had buyers with deposits willing to pay a lot more! Man, if you are telling us all those dealers were that GOOD in manipulating all those buyers into paying $25k - $35k over before ever having the car their to sell on the spot, then I need to go get me some of that great training!!!! Man, they are GOOOOOD!!!! LOL Yeah right!

 

+10000000000

 

There is a keyword that people seem to forget as they rant and rave about ADMs and lying, thieving, manipulating dealers. That word is responsibility. It is the responsibility of the consumer to consider a perceived PERSONAL value on anything he or she buys. Is a house in Maine worth as much as the same house in Boca Raton? Maybe, if you love maple syrup and freezing your ass off. It's all relative, but gee folks, take some personal responsibility and stop acting like victims.

 

BTW, if the letter is real/true, this guy's a moron for not getting the wife to buy in to the idea in the first place. THAT'S where manipulation could come in handy!

 

 

...and then there are those of us that are lucky enough to have a wife whose idea it was to buy the Shelby in the first place! :happy feet:

 

bj

[Cobra Boy]

+10000000000

 

There is a keyword that people seem to forget as they rant and rave about ADMs and lying, thieving, manipulating dealers. That word is responsibility. It is the responsibility of the consumer to consider a perceived PERSONAL value on anything he or she buys. Is a house in Maine worth as much as the same house in Boca Raton? Maybe, if you love maple syrup and freezing your ass off. It's all relative, but gee folks, take some personal responsibility and stop acting like victims.

 

BTW, if the letter is real/true, this guy's a moron for not getting the wife to buy in to the idea in the first place. THAT'S where manipulation could come in handy!

 

 

...and then there are those of us that are lucky enough to have a wife whose idea it was to buy the Shelby in the first place! :happy feet:

 

bj

 

 

 

+1

 

CB

[carlo]

when I bought mine in November they wanted 74k...I got them lower than that naturally, but it was in the 60's....I brought the car in last week due to my hydro clutch cylinder dieing ..took a look in the showroom, they one for a price of 79500...5 k higher 4 months later….they ARE selling in the 70s...I have bought 3 cars from that dealership in the last 2 years...my old sales man who is the finance guy now said he tried to make an offer for a Shelby for himself, ( he has a GT) they told him no..not even for 15 k over msrp because they are getting more....

 

I called my insurance gut to shoot the shit asked him what would be the replacement value right now if I god forbid got totaled etc…he called me back a day later and said his independent value verifier had a lot of trouble finding a replacement price for him..he basically said he would have to pay me what I paid… as long as demand is high and productivity low, this will not change much…sounds good to me….

[Dropping__Chronic]

when I bought mine in November they wanted 74k...I got them lower than that naturally, but it was in the 60's....I brought the car in last week due to my hydro clutch cylinder dieing ..took a look in the showroom, they one for a price of 79500...5 k higher 4 months later….they ARE selling in the 70s...I have bought 3 cars from that dealership in the last 2 years...my old sales man who is the finance guy now said he tried to make an offer for a Shelby for himself, ( he has a GT) they told him no..not even for 15 k over msrp because they are getting more....

 

I called my insurance gut to shoot the shit asked him what would be the replacement value right now if I god forbid got totaled etc…he called me back a day later and said his independent value verifier had a lot of trouble finding a replacement price for him..he basically said he would have to pay me what I paid… as long as demand is high and productivity low, this will not change much…sounds good to me….

 

Cars are VASTLY overpriced in California and people are paying them right and left?

 

 

Man, I for one am stunned. I mean that is totally contrary to anything I have experienced with California or read about for that matter.

 

People in other 'normal' parts of the country have been getting them for 5-15k over on the HIGH side at this point. Prices are dropping, and will continue to drop. If you would have ventured out of CA I'm sure you could have found a dealership that doesn't take acid on a daily basis before pricing their cars.

[Park Lane]

I got jammed in Illinois. One dealer had orderd their last 07 and at $10K ADM offered to change it. Another said come to us in person and we could beat that on our last 07 allotment. I arrived, and the aging 'hipster' owner said they reconsidered and now want an $18K ADM to place the order with my color & options. I walked away. Now the 10K dealer said their order is VIN'd and locked in. The Villa Park dealer should be investigated as a RICO case.

 

Still looking for a blk vert DE-stripped with red inerts......... nav is good too...anyone in the Great Lakes with that car?

[Joe G]

Give me a break! You would have to be a complete and utter moron for someone to manipulate you into paying $30k extra for anything!

 

What makes you think he was manipulated????

 

Some people have more money than brains. That doesn't mean they were manipulated.

 

A dealer slaps an ADM of $30k and someone says, I'll take it! That means they were manipulated????

 

Gee, I wonder how the three customers that paid $125k each for one of these cars? I had heard that some dealer in CA got 3 of these and priced them at $125k each. At the time I heard of this I was told they sold two of the three for the $125k and had one left. I can only assume if they got the $125k on the first two then they probably got the same on their 3rd one.

 

If I remember correctly I think it was a dealer somewhere in San Diego. Now I gotta believe that anyone with the means of paying out a $125k for anything would be the type of person that isn't easily manipulated. They might have sh*t for brains, but I doubt manipulative.

 

BTW, there were a LOT of these that sold for $30k over. LOTS! Heck, we had about 20 calls per day from dealers right before this car came out and they all were offering $20k over just to buy our allocation. There were a lot of dealers that bought this for $20k over when they first came out. That is because they had buyers with deposits willing to pay a lot more! Man, if you are telling us all those dealers were that GOOD in manipulating all those buyers into paying $25k - $35k over before ever having the car their to sell on the spot, then I need to go get me some of that great training!!!! Man, they are GOOOOOD!!!! LOL Yeah right!

 

BTW, is the DR in your screen name just part of your screen name or are you really a DR? Now there is a profession to talk about manipulating people out of their hard earned dollars! Talk about a profession with a license to steal!!!!

Me thinks thou protest too much...

 

Something like a certain dealer whos posts are always about the limited availability, limited time, 1960's Shelby's are going for $xxx,xxx - these are a bargin at $xx,xxx ADM over MSRP, you should get one before they're gone forever... etc.

 

No, I'm sure all dealers are bastions of purely factual data with no "white lies" to close deals, right? Caveat emptor is never more true than when buying on hype!

[BadTony]

This belongs in the " I am a dumbass for paying high ADM" thread

[SUBVET]

Dear Terry,

My husband purchased a Ford GT500 for $30,000 over the sticker price. He called this conceived value. However, when I requested that my husband sell the car back to the dealer immediately, the dealer said the car no longer has the same value. Is this a deceptive practice and is there any recourse?

-- MKennally

 

ear MKennally,

You have run smack into the modern-day mania of banking on future collectible value for a new car. Buyers, who see that 40-year-old Shelby Mustangs are bringing prices comparable to luxury houses, are spending huge sums over the sticker price for the 2007 models.

 

This, of course, overjoys dealers because of the $30,000 your hubby paid -- and the already built-in markup associated with the base sticker price of about $41,000 for the coupe version.

 

This isn't deceptive pricing; it's the result of supply and demand. There are more guys like your husband who want the GT500 than there are cars being produced.

 

But all is not lost. There appears to be a strong resale market on eBay and other sites for the GT500, and you can perhaps recoup a significant amount of the purchase price by selling it yourself.

 

And, not to be morbid, Carroll Shelby, the man whose legend is giving these cars their aura of collectibility is in his 80s. There probably will be a narrow window after his death when anything with his name on it will jump in value.

 

So keep an eye on the obituary pages.

 

KEEP THE CARAND SELL THE WIFE

She wrote "immediately" return the car. In Georgia, we have a three day "buyer's remorse" window. You can return a car w/o consequence.

[Secondo]

I am a huge fan of it, don't get me wrong, but 30k over? I'd probably go without it... That's 3/4 what the car costs pretty much... It's a great car, but seriously...

 

I'm playing the waiting game, I'm sure they will come down in price to some reasonable level. I just wish the average guy, the guy that can afford a 43k car, had a shot at this car as Ford intended. Ford didn't release this car so the dealerships and people with more money than patience would buy them all up for any price.

 

It's depressing sometimes, but I'm a patient man.

 

+1

I agree I wouldn't pay the ADM either but I do think the car is that good that it's worth the money. All this talk of the ADM's gets me bummed out though. :heartbreaker:

[Super Snake]

Dear Terry,

My husband purchased a Ford GT500 for $30,000 over the sticker price. He called this conceived value. However, when I requested that my husband sell the car back to the dealer immediately, the dealer said the car no longer has the same value. Is this a deceptive practice and is there any recourse?

-- MKennally

 

ear MKennally,

You have run smack into the modern-day mania of banking on future collectible value for a new car. Buyers, who see that 40-year-old Shelby Mustangs are bringing prices comparable to luxury houses, are spending huge sums over the sticker price for the 2007 models.

 

This, of course, overjoys dealers because of the $30,000 your hubby paid -- and the already built-in markup associated with the base sticker price of about $41,000 for the coupe version.

 

This isn't deceptive pricing; it's the result of supply and demand. There are more guys like your husband who want the GT500 than there are cars being produced.

 

But all is not lost. There appears to be a strong resale market on eBay and other sites for the GT500, and you can perhaps recoup a significant amount of the purchase price by selling it yourself.

 

And, not to be morbid, Carroll Shelby, the man whose legend is giving these cars their aura of collectibility is in his 80s. There probably will be a narrow window after his death when anything with his name on it will jump in value.

 

So keep an eye on the obituary pages.

 

KEEP THE CARAND SELL THE WIFE

 

 

Isn't there like a 3 day remores rule?

if he ordered the car your stuck with it

Dealers...well...my momma told me if I can't say anything nice...

[ShelbyDude]

Isn't there like a 3 day remores rule?

if he ordered the car your stuck with it

Dealers...well...my momma told me if I can't say anything nice...

 

 

No 3 day on vehicle sales, especially new vehicles.

 

Once it has been titled you can't undo it. The car would have to be sold as used.

 

The 3 day rule only applies to in home sales where a sales person comes to your home and sells you something like a home improvement thing like windows, sun rooms, etc.

 

It also applies to refinancing your home.

[Dropping__Chronic]

3 day rule or not, you'd have a better chance at fishing quarters out of a fire ant hill only using your balls covered in honey without getting bitten, than you would in getting a 30k ADM out of a dealers hands once you have forked it over.

[BoneDoc]

3 day rule or not, you'd have a better chance at fishing quarters out of a fire ant hill only using your balls covered in honey without getting bitten, than you would in getting a 30k ADM out of a dealers hands once you have forked it over.

 

you make your point as delicately as ever, D___C!

I'd just leave the quarters where they are, thanks

 

Oh well... at least this is a fresh topic :beatdeadhorse:

 

Ron

[Super Snake]

3 day rule or not, you'd have a better chance at fishing quarters out of a fire ant hill only using your balls covered in honey without getting bitten, than you would in getting a 30k ADM out of a dealers hands once you have forked it over.

 

THAT'S FUNNY

[Joe G]

3 day rule or not, you'd have a better chance at fishing quarters out of a fire ant hill only using your balls covered in honey without getting bitten, than you would in getting a 30k ADM out of a dealers hands once you have forked it over.

Quote of the day!!

 

Thanks DC!

[Super Snake]

Quote of the day!!

 

Thanks DC!

 

AND TODAY, YOU'RE OUR BIG WINNER

TELL HIM WHAT HE'S WON BOB

[Dropping__Chronic]

Quote of the day!!

 

Thanks DC!

:happy feet: :happy feet:

[shelbyGT500]

As they said on the movie suckers.

 

Kindly the dealer says :

 

" Is this your signature right here sir?"

 

Consumer : " yes sir it is"

 

Dealer :" you own the fucking car , theres nothing to talk about"

 

Would you like to buy an extended warranty LOL LOL LOL

 

Point is if you man enough to sign on the line, too bad for you. Tell your wife to shut up.You bought the car because you wanted it.If she doesnt like it, tell her too bad.

 

I respect a man for asking his wife what she thinks because they both work together in life, but i despise a man for wanting something his whole life and letting his wife rule him like a little chicken shit.I see it every day.Somewhere along his life line he woke up with a clam shell instead of his manhood.

 

Thats what this looks like to me............

[ShelbyDude]

As they said on the movie suckers.

 

Kindly the dealer says :

 

" Is this your signature right here sir?"

 

Consumer : " yes sir it is"

 

Dealer :" you own the fucking car , theres nothing to talk about"

 

Would you like to buy an extended warranty LOL LOL LOL

 

Point is if you man enough to sign on the line, too bad for you. Tell your wife to shut up.You bought the car because you wanted it.If she doesnt like it, tell her too bad.

 

I respect a man for asking his wife what she thinks because they both work together in life, but i despise a man for wanting something his whole life and letting his wife rule him like a little chicken shit.I see it every day.Somewhere along his life line he woke up with a clam shell instead of his manhood.

 

Thats what this looks like to me............

 

 

Funny! And how true it is!

 

My wife sells cars and hears these excuses everyday. Drives her nuts! She says my husband never asks me for permission to buy anything. He just buys it a says look what I bought! LOL

 

Then she says, I don't even get to pick my cars out. He just comes home with one and says here is your new car! LOL

 

Hey, I'm not stupid! Why bother asking about first??? You're just going to have argue about it twice! LOL Once before buying it and discussing it and again after you buy it anyway and bring it home! Might as well just do it and have to argue only once instead of twice! LOL

[HotLap]

3 day rule or not, you'd have a better chance at fishing quarters out of a fire ant hill only using your balls covered in honey without getting bitten, than you would in getting a 30k ADM out of a dealers hands once you have forked it over.

 

LOL...msut admit...I've never quite heard it put like that before