According to some studies, the economy is in “recovery mode.” But we don’t have to tell you that for many people, it still feels like we’re still neck deep in an economic recession. But one industry that is booming is the pawn business, as many people put up their prized processions to get a high-interest loan, just to make ends meet.
So how does a $93,000 1-of-45 2009 Ford Mustang Lee Iacocca Edition Mustang end up on the truTV show Hardcore Pawn? Autoblog stumbled across this video from a recent episode, where a couple comes up with one of these rare Mustangs with the intent to sell it. But why?
The Lee Iacocca Edition Mustang was made to celebrate the man often credited with bringing the Mustang to market, as well as the 45th anniversary of the pony car. More about looks than muscle, there was an optional supercharger package to go along with the slick exterior and highly upgraded interior. Lee Iacocca also signed plates for each of the 45 cars to roll off the line. So how did this couple end up with it, and why are they selling it?
Turns out the woman won the car from a casino raffle drawing, having just 42 entries out of over 2.4 million. And it is the only car of its kind currently for sale. The Hardcore Pawn guys started out trying to get it for just $55,000, while the couple wants $95,000. They end up settling for just $66,000 though, about 1/3 less than they started at. And how much does American Jewelry and Loan (the actual name of the pawn shop) want for this rare Mustang? Oh, just $175,000. Good luck getting a 150% markup on a Mustang that was made pretty much just for collectors.