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blue blooded
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278 Posts
Discussion Starter #1
Run-out sales


Vehicle Details

Vehicle 2002 FORD MUSTANG Cobra
Price $55,990
Kilometres 90
Body 2 door Coupe
Colour RED
Transmission 5 speed Manual
Engine 8 cylinder Petrol Multi-point injected 4.6L (4601cc)
Reg Plate 113506
VIN 1FAFP47V02F118263
Stock # 113506
Comments NEW VEHICLE GST INCLUSIVE PLUS $1495 DEALER DELIVERY, PLUS GOV AND STAT CHARGES
Dealer Details
Licence # xxxx
Location Victoria


I spent $79,000 for a Cobra convertable last September. About 250 others bought them for prices between $75,000coupe and $85,000conv last year and the year before.
People like me had faith in FORD....

Imagine having finance on a car that depreciated $30,000 in about 6 months.
If I write the car off in the second year I get about $60,000 market value and still owe another $25,000 on finance..
I can't sell it, re-finance it !!! rock and a hard place.

Ford tells me that the rrp is $89,000 for a convertible and
assures me that the sell out will have minimal impact on the value of my car ...
Can't figure that ??? they must think I'm stupid !!!

Ford are offering up to $20,000 dollars as incentives for the dealers to get rid of these classic cars.. and then the dealer can offer some their margin on top of that..

I feel ripped off, fool be me for supporting Ford... I love Ford but they have badly cheated me and 250 other Ford supporters.

Those who have bought new performance Fords just prior to BA (including T's) are going to feel ill as they read the car classifieds.
 

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10,560 Posts
Sorry, but if you really feel that purchasing a car is an investment then you are sadly mistaken.

Cars are not an investment tool. You are going to lose period no matter what you buy. The moment that you took it off the lot you lost value on it. You could have tried to sell it same day, but since it is technically used you are now stuck like chuck on the loss that is dealt out when purchasing a car.

As far as Ford shafting you, they hardly did that. It is all part of the whole scheme of buying cars mate. you can hardly expect the car to retain the 79k you spent for it. Just for the record a vert in the states costs...36k for a 03 model. You paid just 10k above that in AU. Considering that you have transport fee's and conversion to RHD and the other things that have to be done to the car that 10k mark up is fair. Another thing to consider is that they were originally marketing them in the mid 90's far more than what you paid for them. SO feel for those that paid 90's for them and reflect that your purchase was for a car not for a short term investment. If it was purchased as a short term investment then I haveto say that I have an 03 that I will sell you for 90k and I will ship that bad boy over.

Slagging Ford for your mistake or should I say your lack of investigation really is not going to do you any good. Purchasing a car is a big investment. An investment that 90% of the time will not garner you a good market return atleast not in the first year. that is what impulse buying will do to you.
 

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T/Control for sheilas
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416 Posts
Sorry champ but just want to know just how you worked out a $20k price drop from what you have spent. As you have quoted the sale price of a Mustang coupe is now $54,990. plus GST and $1495 Dealer Delivery and on road costs. I will tally that up for you...

$54,990: vehicle price
$ 5,499: GST
$ 1495: Dealer Delivery
$ 3100: Stamp Duty
$ 535: Registration
$65,619: Total on the Road.

You spent $79,000 on the road. It is now $13,000 less. So I suppose $20,000 does exaggerate your senario just a tad doesn't it.
 

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blue blooded
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278 Posts
Discussion Starter #6
well well ... thanks for that guys

I did not buy the Cobra as an investment and it was not an impulse purchase ...
the exact same car is now being sold by Ford 30% cheaper after 6 months... the original price was what I expected to pay for the US car, get it to Australia and have Tickford do a great conversion job..... the $55k is even less than in the USA !!!!

gadgeman, the ticket price for mine was $79k and then on top of that the s/d and on roads; the ad in my original post indicates that the GST is included ....so no I didn't exaggerate the scenario...

I'm just really disappointed, the whole family is into Fords and we love them .... we got the Cobra because it was a great Classic car and that Ford had gone to the effort to get them to Australia ...
and TO KICK BACK AND SHOW THE REAR FORD BADGE TO THE MONARO DRIVERS ... for the six months it was probabaly worth it for that alone.

Please don't get me wrong ... it is not the money (I'm lucky I could do it) but I think it "bad" that Ford is actively going about to devalue the top of their range (and yes the Cobra still is as they are so called still for sale for $89k rrp)....

The Cobra and I (and the dog) are going to enjoy ourselves.
I agree with LunaticSVT that you get the car for the car's sake and not the investment, BUT reality kicks when in six months you are 30% down. In a year 50% ???

Thanks for the therapy guys ... hope you can offer me some more in days to come as I'm still feeling a little betrayed.

Oh ... the XR6T ute is greatest work car I've ever owned .... what a massive improvement ... only 117km old and humming like a bird ...


One last thought ... I hope the small grey import companies of Mustangs survive this Ford onslaught on their businesses....
 

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10,560 Posts
Oh yes the cost I am listing is for the 03 not an 01/02

They were far more discounted than what the 03's are running for. Mind you had less HP than the 03 as well.

Verts were 54k AUD new in US for the 01's. I say 01's because the 03 was technically sold in the US during all of 02 or should I say most of 02. It was marketed as an 03 even though it was ordered in Feb 02. The 01's were sold as 02's even though they were 01's. Also you have to look at some other things. As of right now they are cheaper due to a stronger AU$. Back when they were imported the USD was stronger.
 

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pR()rN_*
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1,966 Posts
It depends on how long you plan to keep it as to how much you will loose.
If you plan to own a mustang and sell it within 3 years then I guess that sucks but you lost out.
In the long run Mustangs normally retain good resale value. Perfect car for a middle aged bloke to buy and keep till retirement. I guess thats who those cars were aimed at.
 

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SVTANG,

I'm with you on this one, there is an important principle here!

It's based on "don't bite the hand/s that feed you" - The hands being Ford Customers. We bought a "T" Series - $70k+, the full premium deal

In the rush to win the ratings war Ford have soon forgotten that customers shelled out hard won cash to buy these premium products; there not Falcon Forte Taxis.

The BA appears to be a good car, Ford listened to the feedback. But don't bury last years model, to try and boost the new model.
You don't see the top Euro car makers or HSV doing this, pitch your product against your competitors.

And yes just wait until the BB GT comes out with all the lightweight gear and 320kW, are we going to see the same treatment to the BA FPV Buyers.

Its not so much the discount, dealers have to move stock to survive, it's the way they go about it!

If nothing else, I can take the satisfaction that our T3 (as I'm sure your Stang will be) a heck of a lot more unique than the new model based on numbers alone, and with or without the starter button still brings a smile when you fire it up.

Cheers
 

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Beastmaster
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940 Posts
The Cobra is a great car. The only reason I didn't buy one last year is that I am over 6ft tall and the clutch is a bastard with the conversion i.e. I hit my knee on every gear change.
There was a GT show today up here and a new Cobra was on display and available for test drives. It stole the show.... well it and the new XR8 in Acid.
 

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179 Posts
SVTANG,
Most cars go well and truly backwards for around 10 years before they might appreciate. That is the price you pay for peace of mind motoring and a nice warranty. Want to break even, maybe if you buy good one, make a bit of money? Then you should have spent your money on a XY GT HO. Sure you get a bit nervous parking it. But nothing. I mean NOTHING gives the same feeling a Phase 3 gives, the skinny wheel, the shaker, the vinyl smell. Pure knuckle dragging, testosterone fuelled joy. Good luck with the Stang either way. They are in limited numbers and a factory conversion puts them in the bloody rare category. Who knows what a genuine one owner Mussie may be worth come 2015? Cheers, Ned.
 

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blue blooded
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278 Posts
Discussion Starter #12
thanks for those responses that either understand or are encouraging me to focus on the fantastic car the Cobra is...

the issues are complicated and it is difficult to express them clearly when one personally one feels ripped off....

I hope that anyone reading this thread doesn't have to ever feel the total frustration, the helplessness and the painful disappointment when a giant organisation like Ford play with their supporters (YOU AND ME !!!) so as they can make maximum money....
maybe I'm dumb but atleast I have integrity ...
 

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Speed Demon
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19 Posts
SVTANG

It is interesting to see that the immediate response to your post was 'attack'. What can I say - we love our Ford! I have read the similar post by 'russellw' and on the whole, the response to him was sympathetic. Perhaps you were just misunderstood or it took another post to show this is not a one off situation.
I understand the point you are trying to make - whilst we all have to acknowledge that cars are not investments and depreciate rapidly, the question I think you are trying to pose is "what is acceptable and not acceptable" as to the level of depreciation on a 'top of the range' vehicle?
We all expect to lose money as soon as we drive out of the car yard and we accept that it will continue on a downward spiral - but c'mon - does Ford really need to give it a helpful push by offering massive discounts? (after all, we aren't talking about a run out of base model Falcons or lasers.....).
I would be annoyed too if I lost so much so quick - however, there are a few things you should know:
1) If your Mustang is a 2002 model (as per the ad in your post), it is one of a limited number world wide - that will make it more valuable in the long run. If you bought it for the love of the 'tang' and not an investment, who cares what it's worth now - it will be a classic in the future.
2) As someone else has already pointed out to you, they are only discounting the ones they have left - that would be a small percentage of how many were actually imported. Would discounting the handful of them now have a huge impact of the value of the car in the long run? - I don't think so.
3) You have a FORD MUSTANG COBRA for crying out loud - I could only wish for such a car!!!

So what do I think? - I agree that russellw and yourself raise some good points. As much as we all love Ford, we can support both of your situations and continue to love Ford. They aren't right all of the time and should be told so by their LOYAL supporters. How can they learn from their mistakes if people like yourself and russellw don't point them out?? We support them and they should support us back - that's not asking too much.

Q: When you look at your tang, does a smile come to your face?
A: Yes ..... Then just enjoy it!!
A: No ...... Give it away (I'll happily take it off your hands!!)

Good Luck to both of you.
 

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Hey Where are Cobra convertibles going for fifty something Grand. I want a manual new one.Please tell me of dealers at this price in NSW. I spent this exact money on a peugeot convertible for the wife(now gone) four years ago.Stang is a little more car for the money wouldnt you say???
 

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Speed Demon
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19 Posts
Julian
I think the few Mustangs in the fifty something price bracket that are being 'run out' by the dealers are all coupes?? The convertibles seem to hold their price much better from what I have seen ........ unsure of dealers prices in NSW. Perhaps you could check your locad Ford dealers prices on the net?

Good Luck and let us all know if you find one for that price!!!
 

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There is probably one coupe demo left in Vic at $59,990 + ORC. Not much use to the NSW people but one Vic dealer snapped up the last remaining '01 plated cars that were gathering dust at Ford.

Cheers
Russ
 

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Australian BA XR6 Falcon
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1,249 Posts
Titan Ford here in WA have 2 Stangs left, one is a silver convertible, havn't seen the other.
Pretty sure they are asking $58K for them, i'll look at the add again tonight to be sure.

Sorry, that should read $68K
 
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