05 Red GT(Previous Damage) sells today at Auction

[neilhellr]

A 2005 Red Ford GT with Stripes, Mac, Std. Wheels with 678 Miles (early vin car) sold today at auction in Chicago.

The car was a Ford Credit Repo that had been in two accidents with a total of $43k damage repaired. From what I could tell, the damage was repaired right (including frame).

Any thoughts on what the car is worth? (it did sell)

-Neil
Heritage 0009

 

[HJP]

Two accidents in 678 miles - crazy.

Assuming all repairs completed, I'll guess $120K.

PMC
Tungsten 395

 

[neilhellr]

I agree, two accidents in 678 miles is crazy! I know the dealer where the car was sold new, they fixed it the first time, and the auction fixed it the second time after it was popped.

It drew quite a crowd at the auction, they tried to open the bidding at 200k!

-Neil
Heritage 0009

 

[HJP]

$200K - Obsurd

 

[fjpikul]

Check e-bay. They have a red/white clamshell, no window or vents included, DAMAGED, starting at 4K. My guess is that the wrecked car went for 100K.

 

[neilhellr]

Peter,
You were close, the car sold for $125k. I thought it was worth somewhere between 115 and 120.

Rumor has it that after the second accident, the original owner of the car decided it was too much car for him and instead of making any payments, just decided to let the car go back.

-Neil
Heritage 0009

 

[HJP]

Brilliant! Clearly the car was too much for him.

 

[neilhellr]

I just can't see letting the car go back, some people amaze me.

-Neil
Heritage 0009

 

[HJP]

Takes all kinds to make this crazy world go round :willy

 

[Pipelion]

Can't believe some one doesn't understand the gas pedals's range. It doesn't have to immediatly go to the floor. :ack

Allan

 

[Craig]

The owner probably drives a boat. That crowd thinks that there is only two positions for a thottle, full and idle. :lol

Craig

 

[Bman33]

Can't believe some one doesn't understand the gas pedals's range. It doesn't have to immediatly go to the floor. :ack

Allan

hmmm thats strange... Mine does!!! :lol

 

[Pipelion]

YES to all the above!!!! :biggrin

Allan

 

[abolfaz]

I don't want it anymore, so I'm just going to stop making payments? Ford Motor Credit finances these cars?

 

[B O N Y]

Peter,
You were close, the car sold for $125k. I thought it was worth somewhere between 115 and 120.

Rumor has it that after the second accident, the original owner of the car decided it was too much car for him and instead of making any payments, just decided to let the car go back.

-Neil
Heritage 0009

special bony tard award...
doesn't know how to drive and doesn't care about his credit rating...
grand prize = Ford Escort :bs

 

[EasyEric]

Abolfaz,
YES, Ford Motor Credit WILL finance a GT. I was offered this when I purchased my car and briefly considered it and used it as a bargaining tool on price:

RULE #1 of personal finance - Always pay yourself first (savings).
Rule # 2 of personal finance - Always use SOMEONE elses money (borrow).

Even if you have the cash to pay for the car, if the interest rate offered by Ford is less than what you could earn by investing your cash, it would make sense to let them finance it. Of course, other factors may influence which method you choose, but essentially thats the logic.

Eric