New Mustang depreciation

[Zero7]

largelunchbox said:

Why would you sell having done only 3k miles?

Not using it, had it for 2 years but working away from home

[largelunchbox]

Zero7 said:

largelunchbox said:

Why would you sell having done only 3k miles?

Not using it, had it for 2 years but working away from home

Ok that’s a shame, circumstances change I spose

[AdamC83]

I just got a brand new 18 plate August 2017 built 2.3 Ecoboost Manual in Grabber Blue with Custom Pack for just under 32k, 4k off the list price with it being brand new old stock. Looking at 1 year old similar vehicles they are still selling for over 30k so doesn’t look too bad, just hope the release of the facelift doesn’t kill the value too much!

[Number 97]

I'll be keeping a close eye on the 2nd hand market for one of these, hopefully in the next couple of years some will fall into my price range (£20k max). I have always loved the look of the Mustang and its pretty much a dream car for me. What is the general maintenance and insurance costs like?

[croyde]

I bought one and it arrived in Jan 2016.

I was surprised that the insurance for me was so low. £300 FC and it was the same in the second year. Other owners were also surprised at low premiums but by year 3 it was creeping up.

[swooshiain]

Yeah, my insurance is around £300 a year as well. Oil on the V8 needs changed every 3-4K (at least mine does, depends on the driving pattern I believe), but it's not too expensive - had mine done today for £160. Tyres are obviously quite costly, but I'm still running the original P Zeros after 10,500 miles, and still have 3mm of tread on the back. VED on the pre-April 2017 cars is £530. MPG on mine averages around 22-23, so again, not too bad considering the performance.

[David Beer]

swooshiain said:

Yeah, my insurance is around £300 a year as well. Oil on the V8 needs changed every 3-4K (at least mine does, depends on the driving pattern I believe), but it's not too expensive - had mine done today for £160. Tyres are obviously quite costly, but I'm still running the original P Zeros after 10,500 miles, and still have 3mm of tread on the back. VED on the pre-April 2017 cars is £530. MPG on mine averages around 22-23, so again, not too bad considering the performance.

Hi guys, can I ask where you get your insurance from ? Mine is nearly double that, but on three cars the no claims bonuses are all over the place.

[croyde]

Both mine were with Privilege. Full no claims on the Mustang was 300 quid.

E36 with 1 year ncb was 180 pounds.

BMW worth a couple of hundred whilst the Mustang GT was new.

Mad isn't it.

Mustang jumped to 400 by third year even with having not claimed.

I believe that maybe the Mustang was an unknown quantity in the UK so surprisingly insurance companies went low.

Now they've been around for over 2 years, some have crashed and some have been stolen, so I guess premiums are on the up.

[swooshiain]

Mine is with Admiral, but I had quite a lot to choose from on one of those comparison websites. Suspect your postcode will also be a major factor.

[Merc 450]

swooshiain said:

Yeah, my insurance is around £300 a year as well. Oil on the V8 needs changed every 3-4K (at least mine does, depends on the driving pattern I believe), but it's not too expensive - had mine done today for £160. Tyres are obviously quite costly, but I'm still running the original P Zeros after 10,500 miles, and still have 3mm of tread on the back. VED on the pre-April 2017 cars is £530. MPG on mine averages around 22-23, so again, not too bad considering the performance.

VED on my may 2017 is £140 huge difference,service due in may not sure how much local Arnold Clark charges

[David Beer]

Merc 450 said:

VED on my may 2017 is £140 huge difference,service due in may not sure how much local Arnold Clark charges

140, why? Sounds good for you though!

[djc206]

David Beer said:

Merc 450 said:

VED on my may 2017 is £140 huge difference,service due in may not sure how much local Arnold Clark charges

140, why? Sounds good for you though!

VED changed in April last year to £140 for everything except zero emissions under £40k price. Over £40k incurs another £310/yr. The first years VED is much higher under the new scheme though, a GT is £2k for the first year.

I registered my GT in March so it was £1120 first year and £515 thereafter. If I’d waited until April it would have been £2k first year, £140 thereafter. To buy one now would cost £2k first year, £450 for 5 years and then £140 thereafter.

[swooshiain]

I remember when VED used to be simple

[David Beer]

swooshiain said:

I remember when VED used to be simple

Ok get it now, I payed 535 because it’s a custom pack 4, did not realise. Not that it would of changed my mind. Now exhaust next to sort out, has to be ford approved to keep the warranty. Anyone?

Edited by David Beer on Monday 2nd April 16:45

[OddCat]

swooshiain said:

Oil on the V8 needs changed every 3-4K (at least mine does, depends on the driving pattern I believe)

Really ? That seems odd. Are you not just doing 3k to 4k miles per year and oil needs to be changed annually ?

[swooshiain]

OddCat said:

Really ? That seems odd. Are you not just doing 3k to 4k miles per year and oil needs to be changed annually ?

No, I do about 8K miles a year. From what I've read, the oil life calculation is not measured against the actual quality of the oil, but rather an algorithm based on your actual driving. I think my 8-mile commute is probably not helping. I was suspicious about whether the oil would really need changing that soon, but what came out of the engine looked extremely well used.

[Noel1983]

Hey all,
Just to update and give some real figures.
Sold my Race Red V8 2016 16 plate Mustang with custom pack, silver wheels, chrome trim, front parking sensors (professionally fitted) and dash cam this week with 19k miles to a fantastic buyer in the North West.

Sold for £27,100. That included consideration of £150 of stone chip/scuff repairs needed and also included £100 extra for me to cover my travel costs as it worked out for me to deliver to closer to the buyer (I have family close by).

Smooth process, extensive honest communication, videos etc resulted in a great process.

So £8k to own a 5.0 V8 Mustang for 2 years....BARGAIN! I’m more than happy with that.

22% depreciation in 2 years, by all standards I believe that’s pretty exceptional. Sure there will be people that say they can sell for more, there’s still a bunch for sale around £30-32k that don’t seem to be moving.

If people can get more then great but mine had 19k miles at the point of sale so I think result was a fair price for both sides.

Hope this helps with some people looking at prices etc. If you’re selling and holding out for more hang in there the better weather will help.

Had a great last drive of over 200 miles and ironically as it was a chilled motorway run I beat my mpg record and got 35Mpg!!

Got some great shots and drone footage the day before as well so a good last few days!

[CAPP0]

Noel1983 said:

So £8k to own a 5.0 V8 Mustang for 2 years....BARGAIN! I’m more than happy with that.

Thanks. That was similar to what I envisaged.

I think I posted earlier in the thread, due to family circs we have had to put this plan on hold but hopefully can revisit at some point.

[croyde]

Looks like I was extremely lucky to have only lost £4k after 2 years and 14000 miles.

I was also looking at tax, insurance, 2 tyres and a service, so thick end of £2k, if I had kept it another month.

Still miss it and seeing the prices of the 2018 model, made mine a hell of a bargain.

[CAPP0]

croyde said:

Looks like I was extremely lucky to have only lost £4k after 2 years and 14000 miles.

I was also looking at tax, insurance, 2 tyres and a service, so thick end of £2k, if I had kept it another month.

Still miss it and seeing the prices of the 2018 model, made mine a hell of a bargain.

Certainly looks like the earlier ones were a bargain all round, in terms of purchase price and subsequent depreciation.