Double Disappointment

[15BluStang]

In April I traded in my loaded / heavily modified 2019 Mustang GT Premium to eliminate the $800 a month car / insurance payment. I am now retired and any car I have is used to drive to Publix, Target, and doctor’s office. Not exactly performance car needs. When I bought the GT, I traded in a 2015 EB Premium which was also heavily modified with Steeda parts and 35000 miles. When I looked up the VIN for 2015 I found out at the end of May it was auctioned with left front damage, would not start, and had 145000 miles. That is almost 30,000 miles per year. So at least the person that bought the 2015 EB enjoyed driving it A LOT.

Right now driving a Cadillac XT5, so I am driving in comfort. But a part of me is still tempted to find a used Mustang EB Premium that I can do an even up trade on.

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[Prodigal]

If you need Caddy comfort but have a performance itch to scratch, a black wing may be the perfect solution. Not cheap but there are beasts!

 

[15BluStang]

If you need Caddy comfort but have a performance itch to scratch, a black wing may be the perfect solution. Not cheap but there are beasts!

When I traded in my GT, the requirement was that what ever used car I got, there had to be no car payments. The equity from my trade was the price limit. I was expecting to get an Escape but the XT5 had more of the creature comforts I got used to.

 

[Crew4991]

I never finance vehicles for this reason but damn $800 a month for a car payment? I don't blame you for getting rid of it.

Next time you get a mustang make sure you can afford it or are comfortable with the payment so you don't end up in the same situation. I think you would be just fine getting a used EB of your choice within the next year. Its your retirement, enjoy it and drive what you want.

 

[15BluStang]

I never finance vehicles for this reason but damn $800 a month for a car payment? I don't blame you for getting rid of it.

Next time you get a mustang make sure you can afford it or are comfortable with the payment so you don't end up in the same situation. I think you would be just fine getting a used EB of your choice within the next year. Its your retirement, enjoy it and drive what you want.

I could easily afford it at the time. I had to retire much earlier than expected due to medical issues.

 

[Balr14]

I can relate, medical issues suck. I had to sell my Mustang GT due to arthritis in my back. Once you get used to performance, it's hard to settle for less. I tried, that lasted until I got to the dealer showroom.

Trading a Cadillac for an EB Mustang probably isn't the best financial decision, but I get where you are coming from.

 

[tdstuart]

You could always look into used 15-17 gts as well. They go for $20-$30k depending on the mileage. You can also find nice modified ones with superchargers or turbos.

 

[15BluStang]

For right now I will stick with the Caddy. If I got an EB Prem, I would end up making the drive to Steeda for suspension, exhaust, and CAI updates. I am not going to be making trips for the immediate future that benefit having those mods.

 

[Jerry Carguy]

Check Carvana, I had a good experience with them. Sold my 2014 C7 Corvette for way more than any dealer offered. I took the $46k and bought an SUV for comfort. Got tired of it, sold it back to the dealer, took that cash for a 2021 Cally GT Premium. Net result: no car payments, driving a badass Stang, love the car.... Go for it, I'm an oldster as well.

 

[Cory S]

I never finance vehicles for this reason but damn $800 a month for a car payment?

I’d bet 29% of forums members on here pay over $750.00+ for their Mustang/insurance per month.

 

[black22gt]

If you need Caddy comfort but have a performance itch to scratch, a black wing may be the perfect solution. Not cheap but there are beasts!

I'd second this, though not sure on cost for your situation. My boss had a 2009 Callaway Corvette he finally sold, we actually both ordered our new cars at the same time, but he got lucky and one came in that were to his specs a month or less later (auto trans mostly). He is loving it!

He wanted something his kids could fit in, and this let him keep driving a nice vette motor but still be all dad-able. We joke that he was scarred for life as a youth, as he drove a diesel vw rabbit for his first car. So now he now must have a supercharged v8 just to get around. He's really not like that, but we joke that way anyways! Discussing what car to get his oldest kid was a very fun conversation! Lol

 

[DadzMach]

I’d bet 29% of forums members on here pay over $750.00+ for their Mustang/insurance per month.

I would think that much more than 29%. These cars went from being really priced well, big bang for the buck. Now they are insanely expensive. I bought my first new Mustang GT in 2007, it was a fully loaded convertible, 6 speed (maybe 5?) but I believe I paid just shy of $30k out the door. Next new Mustang was a 2010 GT Roush Stage3, and that car was in the area of $45ish?? I’ve owned several 2011-2014 GT500’s, 8 2013 Boss 302’s that were all in the $45kish range. My newest Mustang is a 2023 Mach1 with all options but Recaro’s and I paid invoice for it………$67k out the door. That’s crazy money for a non supercharged Roush or a Shelby. I had a 2017 Shelby GT350 that had a sticker of, I believe $57k, I paid invoice for it as well. That was the last really good bang for the buck Mustang. In 6 years the price went up $10k for “less” car. Not really less but historically a Shelby was always a large chunk more.

You can’t buy a new car for a fair price anymore and I think that with a car like Mustangs it’s normally a younger buyer, not in my case now. I’m now 50 but I also had to retire due to my own health issues and I have to take care of my Mother who has severe Alzheimer’s.

I am fortunate because I am able to pay cash for the car but I don’t think that is the larger percentage of people that have the ability or want to take that much cash out of their bank to put into something depreciating everyday. Especially when just a couple years ago you could get anywhere from 0% to 3% depending on Ford Credit.

I think the reality is that everything is becoming so expensive that people just can’t or aren’t willing to take that much out of the bank, but with todays interest rates I feel, for the first time it made more sense to just pay for it instead of 5-8%???

with inflation and all that’s going on things are only going to continue getting more and more expensive and less bang for the buck regardless of buying a car, home, clothes, groceries, gas, etc. it’s really a shame.

I strongly believe the price of a Mustang is what made it such a great choice. It was a lot of car for the money for most people, regardless of age and type of employment.

now we are paying what used to be Mercedes money for a Ford Mustang. Times have changed and I dont see them getting any better or even just evening off anytime soon or ever.

I sold Fords in the 90’s, back in the day when a 5.0 LX was $14k and a GT for about $20k. Ford is raising the price faster than inflation requires. The reality iMO is you are still getting bang for the buck ONLY because every car is so expensive now and the reality is that many people, most people have car payments in the $5-$800 range plus insurance.

The only part that isn’t horrible is the cars are worth more and holding their value more than ever before because of the crazy post Covid life changes that happened everywhere.

Im curious to know what most people think a Mustang GT Premium should cost now compared to 5 years ago, 10 years ago???

Sorry for the long post of me blabbing, one of the side effects of my “medication”.

 

[David Schmidt]

Wow, don't tell my insurance agent. Just updated my policy with a "new to you" car for one of two daughters... $1137.88 twice a year for 4 cars, including the Mustang. Mustang is in the same class as the Honda Pilot, both listed as a commuter with 10+ miles one way. Premium just went down by $12. No such thing as a car payment, I've been fortunate enough to manage things such that I don't borrow any more.

 

[SEAICE]

I fear your XT5 doesn't have the best resale, so you're going to take a hit on a trade... You don't say what your transportation requirements are. Taurus SHOs are a good deal. If you don't need any room for cargo, C5 and C6 Corvettes are a relative bargain.

 

[15BluStang]

I fear your XT5 doesn't have the best resale, so you're going to take a hit on a trade... You don't say what your transportation requirements are. Taurus SHOs are a good deal. If you don't need any room for cargo, C5 and C6 Corvettes are a relative bargain.

I got a good deal on the XT5 and resale is a non-issue. I need a car to go to Publix, Target, Home Depot, and the doctor office (less than 4000 miles a year). Requirements were blind spot monitor, no car payment, less than 50000 miles, and no accidents. I miss my Mustang but the XT5 is very comfortable with most of creature comforts I got used to in the Mustang.

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