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View Poll Results: Keep or sell
Sell stang, lease new car use moneys for place to live 0 0%
sell/trade buy new car 0 0%
keep stang 8 100.00%
Voters: 8. You may not vote on this poll

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Old 10-24-2011, 01:43 PM   #1
Shaffe
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Default Thinking about getting rid of the stang

again I know another one of those threads. All though this time I think there is more logic in my thinking.

First off, the mustang is paid off so I know that the "well now your gonna take on a car payment" is a strong argument to keeping the mustang.

Now here is my line of thinking. The mustang is racking up the miles quickly, its out of warranty and is currently sitting at 61K miles and change and its value is dropping fast hahaha. estimated trade in value from when i looked earlier this year is down from 17 to 14.9 if im lucky. Plus i drive it everyday no matter what. so its gonna keep racking up miles. Don't get me wrong I love the car.

Now reasons why I'm thinking about getting rid of it. I will be getting engaged by the end of the year, so me and the girl are looking at places to live. by my estimates we will be fine with expenses and stuff and the mustang wont be a problem(ie gas insurance etc that wont break our budget), but something breaks on it with it being out of warranty is gonna hurt our budget big time. So having a car with a warranty would be nice.

other logic, is sell the mustang out right and lease a car. This would let me use the funds from the mustang to add to my savings and have a nice down payment on a place, but having a car payment or lease payment adds to my monthly budget. Lease is looking like around 200 a month, buying looks like i could get for my car and some cash around 148 a month

Car im looking at is a Fusion or Focus

Beater is not really something Im lookin at, if it was just for the winter yeah no problem, but im looking for something reliable and with a warranty hence looking for a new vehicle.

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Old 10-24-2011, 02:26 PM   #2
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well after doing a little bit of number crunching, with doing the sell mustang use cash towards down payment on aplace and lease a car, that ends up coming out as a wash as the decreased mortgage payment washes out with lease payment and monthyl expense is basically the same

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Old 10-24-2011, 04:01 PM   #3
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One more question. Will ya have to be considering baby seats in the car in the future? If so, the Fusion may be a good option. Just askin'.

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Old 10-24-2011, 04:15 PM   #4
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not for a couple years, not in the plans at the moment hahahaha

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Old 10-25-2011, 02:54 AM   #5
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auto leases are like apt. leases, you're throwing money down the drain for something that you ultimately will not own or have stock in. when i make a car payment or my mortgage payment, i am making an investment into ownership of what will one day be personal property with equity.

if you maintain that car as meticulously as i did mine and my truck, it will last you forever. my ranger lasted 17 years and my mustang lasted 11 until a mindless 20 y/o girl totaled it. the only problem i had was a PATS transceiver failure. and a slight leak in a dust boot on the rack. and i put $7.5K of mods in that car and ragged on it something fierce. many trips to the track. i'm going to repeat what you've already stated in your opening remarks. nothing beats having a clear title and no car payment. and it's not like your car is a junker. it's a late model s197 mustang and those are nice cars. 61K miles is nothing.

the new fusions are definitely nice, but i'd save that money allocated for the car payment and put it in your moving into new house/apt. fund. trust me, you're going to need a good chunk of money when you purchase and furnish a new place.

i think it is a smart thing what you're doing by asking for opinions, but do what you think is right for you and your gal.

and i don't understand your comment about this being another one of those threads? there is more to this site (i hope) than cars and mustangs. i welcome these types of discussion threads. post up as much as you want.

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Old 10-25-2011, 08:17 AM   #6
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by another one of those threads, I meant its not my first time posting this type of thread haha.

Tim very good points. thats the type of advice I want to hear very well thoguht out. The thing with my car is, its daily driven and I think part of what sparked me to get rid of it was seeing how fast it was losing value, and that doesnt sit well with me knowing that the longer I keep it, the more it will cost me when I get something new. And about it not breaking, I take damn good care of my car, but it is already on its second transmission. Granted that was a freak issue that luckily Ford covered under warranty but if it happens again thats on me. I dont have the most confidence in the 5R55s knowing I had a stock one on a stock car shit out on me. Also you had the benefit of having the ranger to drive. If something goes wrong on my car im screwed its my only car I have to drive

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Old 10-25-2011, 09:09 AM   #7
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Hey Shaffe, the stang is paid for right? Sure you could get another car and be coverd under warrenty but you will have payments for yrs to come and when the warrenty runs out on that car you will be back in the same boat as your in right now. You mustang right now does not have a warrenty but, you do not have payments on it so if somthing does break on it go to the bank and get a small loan. Your payments will still be cheaper than a new car and if its not a major fix you could have it paid off in a couple of mths.

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Old 10-25-2011, 09:57 AM   #8
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Thats true too.

If i did go the new car route, it would be a 36 mo or 48 mo payment plan. I refuse to do anything longer. Based on my estimates I would be looking between 120-145 a month in a car payment. I could probably get it lower too with some extra down on the car besides just my trade in.

But no car payment, thats a nice feeling. not having an extra bill is a really comforting thought.

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Old 10-25-2011, 08:56 PM   #9
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Man, the pros and cons on this thread really seem neck and neck! I'm not sure we're helping you at all.

So would you be happy driving around and making payments on a "regular" car? I'm just asking because while my recent replacement doesn't have the "kick in the pants" that my GT had, it's still sporty and is a blast to drive. I don't think I could've traded it for a sedan or compact of any kind. It just woulda been too much of a downgrade for me even if it might be the more practical way to go. Guess I'm not helping much, am I.

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Old 10-26-2011, 08:15 AM   #10
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Yeah i would be fine driving an "everyday" car because while keeping it in my budget I can load it up with tech goodies that the mustang doesnt have. also with my driving style I almost feel bad for my mustang hahahahah. I cant remember the last time i went WOT or even blasted to 60 spiritedly.

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Old 10-27-2011, 08:11 AM   #11
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I think I will be visiting the dealer this weekend

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Old 10-27-2011, 06:36 PM   #12
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i might be doing the same thing this weekend or the next. might be trading the gto in for an '11 f150 ecoboost.

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Old 10-27-2011, 08:07 PM   #13
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Good luck to both of ya. Let us know how it goes.


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Old 10-27-2011, 09:46 PM   #14
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Open a savings account and have an automatic draft of $35 per week put into savings. It's not much, you won't notice it, and if something breaks on the car, you'll have money to cover it. Your value dropped a lot going over 60k, but the value drop will slow down considerably as its not a new car anymore...

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Old 10-28-2011, 08:38 AM   #15
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thats true too. the more I think about it though, I think it might be I just dont want the mustang anymore We will see what happens at the dealer. if the deal is no good, then I will keep on keepin on with the mustang.

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Old 10-28-2011, 02:38 PM   #16
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well called the insurance company today, going to the dealer tomorrow for a test drive and some real number crunching.

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Old 10-28-2011, 09:26 PM   #17
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I completely understand. I get the same thing from time to time, and the only cure is a new car.

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