A man went to a CarMax dealership to check out a 2016 Ford Mustang GT Premium with 87,000 miles. He left stunned by the sticker price and proposed financing numbers.
TikTok creator Trace (@tracedoesit) posted a video with his thoughts while at the lot. “So I’m at this CarMax dealership, but this is what’s crazy to me,” Trace says. “This is a no-haggle price [on a] 2016 Ford Mustang GT Premium. It has 87,000 miles on it. It’s a six-speed manual. They want $27,000 for it. And these payments.”
Trace shows viewers the "understanding monthly payment” section of the sticker on the car. It says that a “very good" interest rate is 8.95%, a “fair” rate is 16.95%, and a “challenged” rate is 22.95%. Those rates make for payments of $504 per month, $622 per month, and $719 per month, respectively.
Trace wasn't impressed. “For a 2016,” he says. “I don’t know about you guys, but these prices have gotten outrageous. These payments have gotten outrageous. A couple years back, this Mustang wouldn’t have been close to that. This would’ve been in the teens. Now they’re asking close to $30,000. Guys, please shop around.”
It’s important to note that these numbers are based on a 72-month loan with zero down payment.
