Hey guys! So I have a friend looking to buy a sports car and his eye landed on 2010 Mustang. He loved it with all the features the premium version (?) has. The MyColor options and all of that. The only problem is that it has 172,822 miles and my friend is looking for the car to last. The dealer is willing to lower the price from 9,500 to 8,900 when I brought up the topic of the high miles.
He turned them down. He found another Mustang 2010 with 90K miles for 9,500. Still bad? Opinions?
I ran a Kelly Blue Book and it is worth about 7.6k according to that. What is more important than the miles is maintenance records. Unless it can be proven that all the maintenence has been done on the vehicle, then I would worry with such a high mileage. KBB link: https://www.kbb.com/ford/mustang/2010/premium-coupe-2d/?vehicleid=374490&intent=buy-used&category=coupe&mileage=172822&condition=good&pricetype=retail
LOTS of base Mustangs out there, he should be able to find a newer one for that price, and one with under 100k miles on it.
edit - on cars.com I found 10 within 50 miles of me with under 100k and $10k or less and 2010 or newer. And that’s the asking price, the final price should be less.
@CommNick
"The only problem is that it has 172,822 miles and my friend is looking for the car to last."
“Other than that Mrs. Lincoln, How did you enjoy the play?”
It’s the details that are important…
things like miles. This car should last for some time, but…
If one wants a car to last then one has to start with fewer miles. As has been pointed out, there are lots of fish in the sea. I’d keep casting.
CSA
Woah… I can’t see myself paying anywhere close to that for any Ford product with that kind of mileage.
No. Don’t. The car is worn out. Look for one with a lower mileage.
And how does your friend feel about it?
Is he/she willing to post?
Has your friend asked for your guidance? Our guidance?
I’d be concerned about that also. If a lasting car with few needed repairs over the next year or two is required, this one isn’t a good bet imo. But it is from what you say a cool Mustang, and a person only lives once. It’s a compromise I guess. But not one I myself would make.
I can access black book values (used by banks and dealers), but I can’t print them. Retail for this car is listed in average condition at $4850. (no car with this mileage can be rated at higher than average condition) Trade in at $3150. The mileage deduction is $3150 ! So, this car with average mileage would be valued at twice as much. The dealer paid less than $3000. Take a similar car with average mileage and divide its value in half.
The dealer is fishing for a true sucker. Any financing at this price would be at sub prime, adding insult to injury. This is not a good buy; it is a no buy
Oh my.
How long his your friend envisioning this car last? Another 25k miles, or another 125k? It’ll probably make the former, but probably not the latter. At least not without some repairs along the way.
Nope, For 9k you can get a far superior 2011 model (much more powerful and efficent 3.7L, with a 6 speed) with less mileage if you look around hard enough. This car should be priced around $6k given the mileage. The dealership is trying to bend your friend over on this one.
+1
Almost any car can be made to last beyond 200k miles if the owner is willing to have a…less than reliable car…and is willing to spend big bucks each year in order to keep it running.
He turned them down but found another 2010 Mustang with 90K miles for 9,500.
I’m iffy about this one as well. Opinions?
I went car shopping with friends two times. I should have learned my lesson the first time. This is called a no win situation.
Still no good then?
Like @FoDaddy said, he shouldn’t get a 2010 V6, that’s a VERY old engine. The 2011 has the modern 3.7L V6, a huge improvement.
Yup, 2010 V6 is something like 210 hp and the 2011 3.7 V6 is something like 300 hp. While I don’t think 90K is too many miles for the price, the 2011 is a much better engine.
I like the 2nd one you found better than the first. I have no idea whether that is a competitive price or not. You’d need to price-out similar cars in your area. To a pin-head used car buyer like me, it seems somewhere between reasonable and a little over-priced. Given what you say the object is, it doesn’t seem like it matters if it is a 300 hp engine or a 210 hp engine. Either will provide proper ummph for getting around town.