Craigslist: 2007 Shelby GT500 for $27K, No Typo

From time to time I like to browse through the local Craigslist ads to see what people are trying to unload in the Mustang community and today I came across what I think is a steal for somebody.  The ad is for a 2007 Shelby GT500 coupe for $27K and no that is not a typo.  The Shelby GT500 is Tungsten Grey with Satin Silver stripes in stock form.  Taking a look at the Shelby production numbers shows us this car is 1 of 363 with the color and stripe combo. The only drawback on the GT500 is that is has a reconditioned title which means it was in a bad enough accident for the insurance company to consider it total loss.  The ad says the Shelby was completely repaired with Ford parts which can easily be verified upon an inspection.  Some buyers will run from ads like this while others see this as a golden opportunity.  I myself am on the fence about cars with reconditioned titles, I have actually owned a 1991 5.0 LX coupe that had a recon title.  At the time I bought the car it was visually and mechanical in perfect condition with no flaws, I looked it over with a fine tooth comb and could not tell it was in an accident nor had it been totaled.  I drove the car for more then three years with no issues.

When buying a reconditioned vehice there are a few things you should do if you are interested in the car.  Get as much information about the accident you can, was it a rollover, a flood or did it hit a pole at 120 mph.  Find out who did the repairs, were they done by Joe "The Plumber" in his backyard or were they done by a reputable shop with the correct tools.  Make sure the car was repaired with OEM parts and always visual and mechanical inspect the car for any flaws.  Cars with reconditioned titles can be some of the greatest deals but they can also be the biggest busts if not inspected properly.

Check out the Craigslist ad here.