Deal or No Deal?

[Voda]

So a number of months ago I came across a '06 FGT 3-option with 12,000 miles out of Canada. Agreed to purchase at $250K. Paperwork hang-up has delayed the purchase.

Now viewing the current market (included below is breakdown of Monterey I posted in another thread), not sure about renegotiating the deal. From my perspective, it's a cash deal and I would have liked to have it in the garage months ago (the price was agreed upon in the Spring), but the seller (broker) wasn't able to provide me the vehicle due to the owner being out of the country on business, etc., and then getting the car into the U.S. Sounds like it may be 2-3 more months. From the seller's perspective, we have an agreement. No money has changed hands at this point. ]I'd like to honor the agreement, but this is dragging out and looking at the current market, I may be overpaying now.

If I decide it is still a good price in the current market, I'll hang tight. If not, I'll attempt to renegotiate. (Broker is a nice guy, but he did say the issues we're close to being resolved a number of months ago and in that time I did pass up on another '06 FGT Canadian car with 1,900 miles I could have bought at $265K.... in all honesty that FGT wasn't my first choice in color and the low miles don't mean much to me since I'm planning on driving it, because where's the fun in saving it for the next guy?)

Appreciate the input.

 

[Xcentric]

What's it worth to you?

 

[djs]

Dave commented about Mecum elsewhere, too many GTs in one venue, etc. FWIW, the Mecum yellow NS is on EBay right now for $329,995. A red/white 2700 mile car is also available for $287,500. But what if the current market for GTs is overvalued? We've been blessed so far because the pricing curve has been very favorable, but what if GT prices are halved, or cut by a third? Are you going to drive the car less, something you've already stated you intend to do?
Presently, there are 38 GTs on Autotrader, including a bunch of Heritages north of $500 large, and virtually all of the GTs above $3bills. There is a <10,000 mile Tungsten no stripe for $257,000 that if I was in the market, I'd grab & take the side stripes off so fast it'd make your eyes water.
As far as values, my neighbor has an '08 Lambo G Super L. Dynamite car, & he drives it, probably has 16-20,000 miles. I'm betting that car is 1/2 of what he paid for it IF he's lucky. And, he doesn't care. Simply stated, buy the car to enjoy it, drive it, etc. If the value/potential depreciation is going to make you nuts, or if your other half is going to rag at you because the car is suddenly $50 grand underwater, when she wanted to get a vacation cottage, well ...

 

[Voda]

Maybe I wasn't clear in my original post. I'm not concerned with depreciation and am not a speculator. I plan on driving the car. As an example I had a $100k+ restoration performed on on of my cars and when completed was asked if I was going to put it on the show circuit. My answer was "nope, going to drive it and enjoy." The look on his face was a bit of disbelief. I drove it that day, and the next, and the next... You get the point. I'm not about saving it for the next guy.
Some of the cars in my collection are rare, so price paid was-what-it-was, non-negotiable. GTs aren't rare. 40 for sale at any one time. I believe in paying fair market and not a penny more... Didn't get in this position by frivolously throwing $ around. No matter how much $, I'll always remember where I came from.
Kind of long-winded, but back to the original question of deal or no deal

 

[Xcentric]

I believe in paying fair market and not a penny more...

And therein lies the rub. They're not rare cars, but "fair market" varies by many thousands, so good luck with the not a penny more part.

Since you want to drive it, look for a car with more miles on it and save $25k or more.

I thought I paid too much for mine. Now I think it was the best car deal ever.

 

[THamonGT]

Just last week a friend called me and told me to find him a Ford GT for his collection. This happened to be the same friend that purchased my 1970 Mustanf Q code 428 SCJ in perfect condition, street race car I've owned for 7 years. I knew of a 06 Ford GT, Black, no stripe 3 options with 7,300 miles for sale and got the two together. Nice car with the only modifications, exhaust changed no other modifications. Only problem with vehicle was a miss colored wheel which need to be painted to match (owner tried to clean with a harsh cleaner and bubbled the paint). GT was purchased for $225,000 and both are happy. The owner I'd building a Car Museum in the Houston area and my mustang and the GT fit well in his collection. He loves the GT and says it is the most fun car to drive in his whole collection of 55 cars. I told him he'll drive it more than displaying it in his Museum. happy happy Seller and new owner!

 

[Sinovac]

So a number of months ago I came across a '06 FGT 3-option with 12,000 miles out of Canada. Agreed to purchase at $250K. Paperwork hang-up has delayed the purchase.

How important is your word?

 

[shelbyelite]

I have a Midnight Blue US spec car with 13k miles I will sell you. All 4 option, 1 owner. Will be available in 1 - 2 weeks. Best priced GT I've had in a while and midnight blue has been super hard to find lately

 

[Voda]

Extremely important... But he has said the car will be ready numerous times. I told him of the other GT I had found, and he said this car was almost ready so I'd be safe to pass on it. I passed on it all in the name of keeping my word. That was 2 months ago, and that ship has sailed. Talked with broker the other day and now he is saying could be another 2-3 months. So the deal should really be dead... Have done many real estate development deals, and let me tell you, this wouldn't fly. Feel like he may be mistaking my integrity and kindness for weakness. Basically reaching the end of my rope and going to start looking elsewhere (if it was a screaming deal, I can wait longer... Driving season almost done in my neck of the woods and I have plenty in the stable to exercise.)

 

[nautoncall]

Since you want to drive it, look for a car with more miles on it and save $25k or more.

I vote for this option.


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[FGT899]

I have a Midnight Blue US spec car with 13k miles I will sell you for $245k. All 4 option, 1 owner. Will be available in 1 - 2 weeks. Best priced GT I've had in a while and midnight blue has been super hard to find lately

I would jump on this. I'm not sure what color you were locked in on, but midnight blue is tits in person and it's the color I see the least of.

 

[twobjshelbys]

I agree on the midnight blue. Photos don't do it justice. You have to see it in person.

 

[THamonGT]

Jump on that one. Blue is my 2nd favorite color. Very good price Shelby.

 

[Voda]

Talked with Shelby this a.m.

 

[07XL0027]

Talked with Shelby this a.m.

My first GT was a red four option car. My current GT is a blue four option car. I love them both but more people have complimented on the blue than the red. Sorry Dr. Frank. You have been more than accommodating on the other car it is time to move on.


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[viva gt]

My first GT was a red four option car. My current GT is a blue four option car. I love them both but more people have complimented on the blue than the red. Sorry Dr. Frank. You have been more than accommodating on the other car it is time to move on.


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lovin it.
shines more than min...ooooh what a beauty

 

[GKW05GT]

I'm biased but blue looks outstanding in the sun.

 

[07XL0027]

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[vyprgt2]

Talked with Shelby this a.m.

245 K for a 4 option US midnight blue 13K car is an incredible deal

 

[BIGFOOT]

Sure sounds like you have waited longer than would be reasonable.
Was there a timeframe on the original negotiation?