Buying a '05 Mustang

[nick_bbb]

Looks like I've sold my Wagon today and after a few years of driving old cars I fancy some modern motoring. After some consideration an 05 Mustang looks like a good choice.

I have a budget of £15k and am hoping to get a 2005 GT for that. I am a little confused about pricing though. There are loads of suitable cars in the US for $18,000.

E.g.

http://www.autotrader.com/fyc/vdp.jsp?ct=u&car...

http://www.autotrader.com/fyc/vdp.jsp?ct=u&car...

http://www.autotrader.com/fyc/vdp.jsp?ct=u&car...

Now I understand import duty, taxes, shipping fees, etc and even with a £2K cut for an importer there should be plenty of cars around for £15K or even less but there are few and far between and most are price up nearer £20K for an '05 even though you can get a '08 car for £23K. Can anyone explain this market to me?

[benny.c]

Can't really help you on the US second hand market, but some high milage (for an import) S197's are starting to fall within your price range on ebay here in the UK. Most still seem to be around the £17K mark but some have gone cheaper.

[Twin Turbo]

Hi mate.

I purchased my car last September and had waited a long time for the right car (Black GT, 5 speed etc) to fall into my price range, which was a maximum of £18. I actually paid £17.5k on an Ebay sale. Since then, prices haven't moved much, you're still looking at £20k from a dealer or £17ish private for an '05.

A few have appeared cheaper, but not many, and they tend to be high(er) miles.

You'd get a nice V6 for £15k (actually, probably more like £12/£13k), but.............

BTW, you have mail.

[LuS1fer]

Twin Turbo said:

Hi mate.

I purchased my car last September and had waited a long time for the right car (Black GT, 5 speed etc) to fall into my price range, which was a maximum of £18. I actually paid £17.5k on an Ebay sale. Since then, prices haven't moved much, you're still looking at £20k from a dealer or £17ish private for an '05.

A few have appeared cheaper, but not many, and they tend to be high(er) miles.

You'd get a nice V6 for £15k (actually, probably more like £12/£13k), but.............

BTW, you have mail.

Big leap from £18 to £17.5k. Glad you got real! He he he.

The breakdown of cost is going to be around $20k for a good LOWER MILEAGE 2005/2006GT but you tend to get the travel agent rate of exchange when you transfer the funds but basically around £11k plus your shipping which is around £500 ro-ro. Your 10% import is £1100 plus you need marine insurance which is something like £200. The VAT takes it up to £14805 and there are a few clearance fees so call it an even £15000.

The SVA is quite complex and, from memory, about £600-£1000 for a proper conversion that won't fry the junction box in the next 3 years and the test fee is, I think, £150 plus you then have to tax it so you're hovering around £16-16.5k on the road and you will have had to do all the spade work paying someone to look at the car and buy it and get it to the port and fill in all the export paperwork (I used an agent which cost me about £600 in 2004)then you have to wait a few weeks for the car to arrive and do all the driving it round to get the SVA test done, get it registered and taxed and so forth for which you may need a week of annual leave.

Bear in mind that Mustangs in the US don't depreciate in the traditional UK freefall fashion, they depreciate far more gradually. The UK Mustangs will often be sold with a notion of the UK depreciation factor so sellers will take a bigger hit, although in the past year, prices have actually firmed up quite a lot even though there are still bargains to be had if you search around.

They are a variable price and quality. One went on ebay quite cheaply recently but had clearly been well used. Mine is a 2005 but only has 6000 miles on the clock so I either wouldn't sell it or it should be worth more or it's past the time when it's worth selling.

After 14 years of owning US cars, there is always a dedicated undercurrent of buyers waiting for them to come down to their price range and the depreciation is remarkably low over time and a lot better than your average BMW.

Edited by LuS1fer on Friday 16th May 16:18