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Tell me about S550 Mustang GTs

Illustration for article titled Tell me about S550 Mustang GTs
Photo: Mustang Fan Club (Other)

I’m giving some serious consideration to buying a late model Mustang GT coupe, with a manual and preferably with the Performance Pack 1. Any year between 2015 and 2020 is OK (2018+ preferred) but I’m trying to stay around the $30k mark, and most of the cars I’m seeing at dealers are asking $33k to $40k. Would it be a hopeless endeavor to make a $30K or $31k offer for say, a car listed at $34k?

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Anyway, this would be a purely fun/vacation/road trip car, I have a truck so no need for cargo capacity. I also have a company car for work, so the Mustang would probably only get ~500 miles a month on it. I rarely have more than one passenger and even more rarely have a third or fourth passenger for more than about a half hour drive, so the coupe is fine.

Anyway, does anyone have an S550 GT? Common problems to look out for? I love Kona Blue, Velocity Blue and especially Need for Green, but I understand that’s gonna be a hard to find color without buying brand new. There’s a local one listed that checks all my boxes besides color but they’re asking $38k when I think it’s more like a $34-35k car:

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At least it has some miles already so they’re more likely to let me test drive it, even if I have little intention of purchasing that specific car unless they shave $5k off the top. Having not driven an S550 at all yet, I want to make sure I actually like it before sending serious inquiries to other dealers around the country for the best deal. A lot of the listing aggregate sites say this is a “Hot Car” to the effect that even at these higher prices, they are likely to sell in 7 days or less. Not sure I believe that, but I’m kinda tone-deaf as to the late model sports car market.

Maybe I should wait a few months to see if new production ramps up again to meet demand, pushing used prices down a bit.

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