Good offer for my Stinger

[Mike_TX]

I got a written cash offer for my 2020 Stinger of $40,500. It has 12,000 miles, in like-new condition, Panthera Metal GT2. That's almost as much as I "paid" for it (I leased, and I'm referring to the negotiated price).

Not anxious to trade, but it's interesting because I have some negative equity rolled into this lease, and that would wipe it out since my payoff is $40k. Used car prices are still smokin', but I don't know how long that will last, and as we know, there are pretty solid signs the Stinger will die after next year. That could negatively affect the prices.

The only thing I'm kinda interested in is the Hyundai Santa Cruz, but they are scarce as hen's teeth and I don't know when I'd be able to get one like I want. So I don't know whether to strike while the iron's hot and rent something for awhile, or just wait and see what happens.

 

[ChaneRZ]

Do it…

 

[Mike_TX]

A big consideration in an outright sale (beyond having a replacement) is that you lose the sales tax advantage on the replacement vehicle.

In Texas you pay sales tax only on the difference between your trade-in and the new vehicle cost. With our sales tax rate of 6.25%, the cash selling price has to be around $2,500 better than what I could get as a trade, and a trade is a lot easier.

I just thought it was interesting that our Stingers are worth that kind of money on the used market. Since I don't have a replacement, I'll probably just blow it off and see what happens.

 

[DTD]

A big consideration in an outright sale (beyond having a replacement) is that you lose the sales tax advantage on the replacement vehicle.

In Texas you pay sales tax only on the difference between your trade-in and the new vehicle cost. With our sales tax rate of 6.25%, the cash selling price has to be around $2,500 better than what I could get as a trade, and a trade is a lot easier.

I just thought it was interesting that our Stingers are worth that kind of money on the used market. Since I don't have a replacement, I'll probably just blow it off and see what happens.

It's not just the Stingers that are worth more at the moment, all used car values have risen because of the shortage of new vehicles.

 

[Waynerm002]

Saw and article that the used car price bubble has burst, we know these things will take some time to actually change all over. Once the new cars come in, you might still be in a position to get that Santa Cruz and have some equity, or not. I’ve seen a few dealers in my area with little or no new cars on their lots, just used, even on the sales floor. I got lucky on mine back in March, had a bump in equity and the replacement had a massive deal on the lease. Good luck to you.

 

[Mike_TX]

Yep, don't have any real choice at the moment, since there are essentially no Santa Cruz's in my area - certainly none that I want. So I'm just gonna have to wait until the supply improves. Even though my car won't be worth as much then, I will at least have paid down my lease more, so maybe I won't lose too much.

And yeah, I know it's all used cars that are up in value, not just Stingers.

 

[CDv6]

Saw and article that the used car price bubble has burst...

Got a link to share?

 

[WRXtoStingerGT]

yeehaw

 

[GenesisG70]

Keep it its.gonna be a classic

 

[Stingin' Away]

I got a written cash offer for my 2020 Stinger of $40,500. It has 12,000 miles, in like-new condition, Panthera Metal GT2. That's almost as much as I "paid" for it (I leased, and I'm referring to the negotiated price).

Not anxious to trade, but it's interesting because I have some negative equity rolled into this lease, and that would wipe it out since my payoff is $40k. Used car prices are still smokin', but I don't know how long that will last, and as we know, there are pretty solid signs the Stinger will die after next year. That could negatively affect the prices.

The only thing I'm kinda interested in is the Hyundai Santa Cruz, but they are scarce as hen's teeth and I don't know when I'd be able to get one like I want. So I don't know whether to strike while the iron's hot and rent something for awhile, or just wait and see what happens.

While a good chunk of money, I would try other avenues for cash offers. I received $39k for my '20 GT RWD w/5k miles. This could be dependent on your region though. I'd check around with Carvana and Vroom, you may be able to get more.

 

[PMR818]

Keep it its.gonna be a classic

Agreed! I mean that's always gonna be arguable and none of us have a magic crystal ball. And of course anyone should secure that bag if they need/want to sell.

If this version of the Stinger is being discontinued, the future rareness of it could add value. Plus I don't see a lot of complaints about Stinger lemons out there so this machine might be built to really last. And it loves being tuned. Ceiling seems pretty high for the car at minimum as a fun toy/project to keep around even if value doesn't increase.

Or what do I know, sell it and put the funds towards that BMW M5 or Nissan GTR.

 

[chattanoogastinger]

If this version of the Stinger is being discontinued, the future rareness of it could add value.

If that were the case, there would not be talks of it ending it's production run so early. I would not expect any cult glory for the Stinger, it being rare is not winning it any awards with badge snobs who didn't buy it the first time around.

 

[VetteNZMan]

Great thread, thanks, as I’m in the middle of a situation like this. After trying many different options finally got an offer of $36k for my 2018 GT1 with 15k miles and will likely take it. Paid $40k. But I’m having a hard time to let go.... gets us down to 3 vehicles but my wife can only drI’ve the one automatic.
There is NO way the Stinger will be a serious collectors car. I have a 2000 C5 FRC 22k miles just 2000 made and now just seeing its value come up somewhat. So what’s next.... I have a 2022 hybrid Ford Maverick XL on order..crew.cab bigger than Ranger, 40MPH and get this $22.5k OTD!!! Then the wife like myself has always liked the Zs. We will look very hard at them in the spring but big issue no back seat. So we are in a real car quandary right now... any advice??!!

 

[Maljey]

Great thread, thanks, as I’m in the middle of a situation like this. After trying many different options finally got an offer of $36k for my 2018 GT1 with 15k miles and will likely take it. Paid $40k. But I’m having a hard time to let go.... gets us down to 3 vehicles but my wife can only drI’ve the one automatic.
There is NO way the Stinger will be a serious collectors car. I have a 2000 C5 FRC 22k miles just 2000 made and now just seeing its value come up somewhat. So what’s next.... I have a 2022 hybrid Ford Maverick XL on order..crew.cab bigger than Ranger, 40MPH and get this $22.5k OTD!!! Then the wife like myself has always liked the Zs. We will look very hard at them in the spring but big issue no back seat. So we are in a real car quandary right now... any advice??!!

What advice do you need? Seems like you have it all figured out!

That Ford Maverick is going to be a game changer. I have no use for a pickup truck but damned if I don't want one too, for that price and 40MPG!

So you'd have the following 3 cars in your household:

Corvette
Ford Maverick
Nissan Z

Can you both share the Maverick as your practical vehicle? Do you both absolutely need a vehicle with back seats? Also, can your Corvette and Z be driven in the winter? Dunno if you're in a climate that sees snow.

I see the Stinger's draw as a great jack-of-all-trades car. However if you don't absolutely need that, then get something you both will enjoy even more.

 

[VetteNZMan]

What advice do you need? Seems like you have it all figured out!

That Ford Maverick is going to be a game changer. I have no use for a pickup truck but damned if I don't want one too, for that price and 40MPG!

So you'd have the following 3 cars in your household:

Corvette
Ford Maverick
Nissan Z

Can you both share the Maverick as your practical vehicle? Do you both absolutely need a vehicle with back seats? Also, can your Corvette and Z be driven in the winter? Dunno if you're in a climate that sees snow.

I see the Stinger's draw as a great jack-of-all-trades car. However if you don't absolutely need that, then get something you both will enjoy even more.

Not really figured out...but will have to very soon.

So present vehicles are:
1987 Ranger - very good condition but 5 speed man., solid work truck with 6' bed that I use regularly.
2000 Corvette C5 FRC - 6 speed man, still enjoy driving this a great deal BUT sits a lot, however, I can not see me selling, may be worth $25K.
2014 Hyundai Sante Fe GLE - primary mover of 9 year old twins and wife who can not drive manual, yet!
2018 Singer GT1 - family fun car that is driven more than the Vette but only has 15k miles. I do worry about the longer term durability since there have been lots of small issues and miles are still low: rattles, paint, spoiler gasket, a few recalls..... and it's always really pissed me off that it did not have blind spot monitoring given the base price and drive sightlines.
2022 Ford Maverick XLS - on order and I think it will be Xmas if I'm lucky!! Will be my daily 100 mile commuter at 40MPG.

Thinking is sell the Stinger now at $36K given the decent market conditions and then see what the 2023 Z looks like / cost, hopefully the 6 speed manual as my 350 and 370 were.
Would really like to only have 4 vehicles BUT just not possible - I guess I make the argument in my head like tools in a tool box, they all have their unique purpose.

If you change your mind on a Maverick (or want a new Bronco) the best dealer giving me 4% below invoice is in your state, just outside Philadelphia, Chapman Ford.

 

[Maljey]

Not really figured out...but will have to very soon.

So present vehicles are:
1987 Ranger - very good condition but 5 speed man., solid work truck with 6' bed that I use regularly.
2000 Corvette C5 FRC - 6 speed man, still enjoy driving this a great deal BUT sits a lot, however, I can not see me selling, may be worth $25K.
2014 Hyundai Sante Fe GLE - primary mover of 9 year old twins and wife who can not drive manual, yet!
2018 Singer GT1 - family fun car that is driven more than the Vette but only has 15k miles. I do worry about the longer term durability since there have been lots of small issues and miles are still low: rattles, paint, spoiler gasket, a few recalls..... and it's always really pissed me off that it did not have blind spot monitoring given the base price and drive sightlines.
2022 Ford Maverick XLS - on order and I think it will be Xmas if I'm lucky!! Will be my daily 100 mile commuter at 40MPG.

Thinking is sell the Stinger now at $36K given the decent market conditions and then see what the 2023 Z looks like / cost, hopefully the 6 speed manual as my 350 and 370 were.
Would really like to only have 4 vehicles BUT just not possible - I guess I make the argument in my head like tools in a tool box, they all have their unique purpose.

If you change your mind on a Maverick (or want a new Bronco) the best dealer giving me 4% below invoice is in your state, just outside Philadelphia, Chapman Ford.

Thanks for the Chapman Ford info. I'm on the other side of PA state but I do visit Philly pretty often.

Looking at your garage, I would definitely sell the Stinger in favor of the Z. Between the Maverick and the Santa Fe, you'll have all of the practical vehicles you need. You plan on keeping the Santa Fe for a long time?

 

[VetteNZMan]

Looking at your garage, I would definitely sell the Stinger in favor of the Z. Between the Maverick and the Santa Fe, you'll have all of the practical vehicles you need. You plan on keeping the Santa Fe for a long time?

Yes, Sante Fe has about 110k. Several years ago hit a deer in WV, did $5k damage to the front end. Drove back to NC with an open / gaping hole in top of radiator. That was 50k miles ago, going strong. Interior is lacking but solid family SUV. I dislike SUVs / vans but a necessity. Thanks for the feedback!