I'm currently looking at a 2001 GT Mustang Convertible, the car has 77,580 miles. Every Option except the Mach 1000 Stereo system. I love the car but I'm also not stupid. It has a Salvage Title the owners "hit a deer" in the front. The car drives straight no issues with the frame being bent it was cosmetic damage until I took it home. I drove the car to have my Dad look it over before we went through with trying to get financing ((we have bad credit, my parents are going to buy me the car for giving my first mustang to my mother, it was for a new corvette a huge 50th birthday present, she needed a good trade in )) Well I took it home and the check engine light came on me not having 100.00 to take it to a mechanic pulled over at a Auto Zone to get a free check engine scan well the guy popped the hood and the hose to the coolant container was completely not plugged in and was shooting steam like mad. So he scanned the car and said that the check engine light was on because of the Oxygen Sensors. That was the first issue of the day ((we also both agreed that the car needed a new belt because it was making a obnoxious squeaking noise, luckily the custom exhausts drowned out the noise)) I got the car home and washed it looked for water leaks in the windows which their was from where the window didn't go all the way up. The drivers door was damaged so it was not fitting properly. I also assumed the damage to the speakers in the rear was from possible rain damage from the way the speakers lay by the window.

The biggest craziest issue was when I went to drive it back to the dealership and the car overheated I pulled over let the car cool down turned around went home waited for my dad to get back from golfing to look at it, the car had 0 coolant in it. We had to fill it up with water to get it back to the dealership which was 30 minutes away. We also noticed the springs on the wheels were really bad and made soooo much noise. The dealer responded to all the issues with. We just put a new Radiator in the car, and the car hasn’t been a everyday driver car for quite awhile so the springs just need to be used the could have rust on them from sitting so long. But over the week ive been watching the miles on the car go up up up. The Cars original miles on their website where I found it were 77.280, the first time I drove the car its was at 77,358 now its at 77,580 my 50 mile day added to that.

Like I said I LOVE THE CAR and I do want a project car something to work on but he originally wanted 9,995.00 for it then hes had the car for a few weeks which he dropped it to 7995.00 He showed me his profit sheet. Where he actually god paid 5960.00 for the car then showed how much he originally wanted for it which was the 9995.00. Here is the Edmunds for Rough Dealer Retail 5,956.00 that’s not including the fact that it has a Salvage Title. I understand banks look at Nada and the Clean Dealer Retail is $10,150.00. He told me he would do 6,500.00 because its fair for him and he thinks its fair for me that he makes some profit and I get a good deal. The damage to the car doesn’t scare me because I want to work on the car….but I also don’t want to buy the car and go belly up because of the money that ill need to invest to get the car to point of selling it. What do you think I should do?


Laid out list of problems ((some picky, some serious)) $6,500.00 Also the car looks like a 10/10 from a distance so it doesn't look like a hoopty

1. Salvaged Title
2. Body Paint ((cant replace fender or bumpers without getting the car completely repainted, I don’t want the bumper looking darker than the whole car.))
3. Springs on the Wheels
4. Stereo Busted
5. Leaks from the window cause of the door
6. Damaged, Dented Exterior ((needs new Fender, Passenger Door, Rear Bumper, Spoiler and the spoiler they installed is a Cobra spoiler which to replace is more expensive than stock and also requires altering the trunk, by adding a 3rd screw hole. Cant had a stock spoiler with their being two ugly holes in the trunk))
7. 3!?! Different types of tires are on the car that is dangerous in rain with the different styles of treed
8. Overheating and coolant
9. Brakes didn’t sound right but they are probably worn different because of the tires not being even
10. Needs a new belt
11. Oxygen Sensor needs a look at
12. Their was no window lining the drivers side you could see the window when its rolled down extremely uncomfortable going through the drive thru and having the window glass up your arm.

YOUR STATEMENT

The damage to the car doesn’t scare me because I want to work on the car….but I also don’t want to buy the car and go belly up because of the money that ill need to invest to get the car to point of selling it. What do you think I should do?

REPLY

No matter how much you invest you can't change the title " SALVAGE " vehicle will always have a 30% to 50% less market value, my suggestion to you is " STAY AWAY "

Cosmetic damage only ?,,, in this case I don't think so..... Cosmetic salvage vehicle is a car that's been in a hailstorm, and if you don't mind the Bonnie Clyde look it's the only car with a salvage title I would consider.

The Insurance involved written vehicle off this vehicle for a reason, now get it out of your head and shop for a real car.

PS,,, As a matter of interest this vehicle being a GT Mustang, did you ever check Insurance rates or have any idea what the cost is ?

Insurance isn't really a issue same with paying for the car im not really in a bad position where im struggling on money. I don't need the car I want the car and Mustangs can resale. It depends on the buyer ive seen Mustangs sell for ALOT of money but down where I live we have things like Mustang week probably about 3,000 Mustangs gather and people buy, sell and trade clean titled and salvaged titled cars up to the point of original sticker value. I mean to sell a Mustang GT with a salvage title only a Mustang GT person is going to look at it and understand that a salvage title doesn't mean anything because theirs thousands of Mustang enthusiasts and its not really like a Honda Accord or Kia. If you restored a Kia nobody is going to look at it, but when your selling a American Legend you have a whole network of people that will buy that car. The things I plan to do to the mustang is really completely change the car redo everything on the outside and soon inside just do things that will make the car a "Mustang".

BUT $6500.00 hmmmm and the damage isn't just cosmetic and I said that above it started as cosmetic til I checked it out. Then realized it was things from chipped paint to cracked bumper to the car overheating and being un-drivable. I see the car being worth something in the long run but is their room for negotiation even if the dealer paid 5860.00 for the car. Before we went into the dealer I had a amount that id pay for the car in my head 5350.00-5700.00 then he hit me with that sheet and it kinda made me feel sorry for the guy cause he actually paid that much for that car ((5960.00)). I mean I might pay the 6500.00 but I really want to see if I could talk him lower. Or if he could have lied and pulled that sheet out of know-where and is trying to fool us. I told him my opinion on the car that I didn't want to go belly up but id be going belly up paying 6500.00 on a car that's worth 4500.00 id lose that money instantly...Even though I would make it up in the end I don't want someone screwing me out of 2,000.00

As a matter of interest I know the Mustang re-sale market quite well as I still have a 1966 Mustang Coupe 289 that I bought back in 1979, all original with rare Mfg A/C inslalled and still working, but would I consider a salvage Mustang at any price " no thanks " no matter what the price.

Hey it's your money, do what you want, you asked for input and got my 2 cent worth.

I just wanted to know is their room for negotiation. I appreciate your 2 cents though, wish I had that 1966 but I mean if the dealer paid that much for the car and wants 6500, that to me is still to much but his inventory sheet said he paid 5960 can I can get less than what he paid for the car since it was his mistake for paying to much?

Did you read the web pages " how dealers negotiate " and " how you should negotiate " ?

If you did I would appreciate your input, as to what you don't understand about how to get the best price ? I may have to rewrite some text in these windows so consumers can get a better understanding as to what I am trying to get across. what explanations may or are missing, thanks.

As for seller showing you his cost, take that with a grain of salt.

I understood what you were saying I actually read your whole website and found it VERY helpful, but I feel like my situation is different since im going to be asking about 500.00 under what he bought the car for. Its not like he has a new car that I can negotiate it to the invoice and him still make money he wouldn't be making any money from the car if I negotiate lower, I dont know if thats fair or if I was in the right to ask for the cars price to be lowered OR if hed even agree. I don't want to ruin a relationship with a dealer who has been very nice to me and not to mention his son is friends with my father. If theirs a chance he could accept my offer then ill pursue it but if theirs no way then im not going to look like a jerk to my dads friend and walk.

I got him down to 5300.00 with tires ((4 of the same)) lining for the windows, new water pump and some other fun stuff((not warranties or fabric protection)).

I went and got my own financing so when I told him either you take what the bank will finance or ill have to walk. He buckled. I think his inventory sheet was a lie and he added another kid that lives in a town called Florence which is 2+ hours away to the triangle of drama. He said this kid drove down and wanted to buy it, I told him to let the kid have it and he panic-ed said that I was looking at it first and he was obligated to sell it to me first but the kid was wanting to pay full price for the car I would have taken the 9995.00 over the 5300.00. So not really a good family friend crazy how people will try to manipulate you into buying something, im glad I turned the tables on him and got a good deal though. First Project car and I cant wait to start!

You are a diamond buying a car having done your homework, and I am very happy to see someone that takes some proper steps.

I wish you luck with your toy, and a vision of you and your new pride in an email picture will top it..... good luck