Reality finally set in,,,,.

[opensesame]

Yeah,,,. There's a very good, almost definite possibility that we won't be getting a Mustang after all,,. You know that old scenario of the Devil on one shoulder and the Angel on the other? Well, in this case it was Desire on one side vs. Reason on the other.

This Mustang was supposed to be a retirement or "Last Fling" send off for us. But now that cooler heads are prevailing, spending almost $40,000.00 for a toy really doesn't make financial sense when you're heading for a fixed income in retirement. And it's not that we 'need' a new car. The three vehicles we have are all in perfect condition and are all paid for. We're basically debt free and are trying to keep a decent amount squirreled away for unforeseen future problems. (that always seem to pop up when you least expect them.)

So,,, with all that said, I'll continue to visit this forum and experience the thrill of the new Mustang, through all of your threads and posts! Enjoy that fantastic car!

Try not to think that way. Yes you have debt. But what if your died tomorrow? Live each day as your last. I would rather have fun driving a mustang and have some debt than to have none, little bit more money in my pocket but drive a boring car. Cheers! :cheers:

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[evo8904]

Enjoy your retirement without debt. I told my wife that when I am 50, we are going to sale everything and move into a condo. Then we are just going to travel.

 

[cbrookre]

Try not to think that way. Yes you have debt. But what if your died tomorrow? Live each day as your last. I would rather have fun driving a mustang and have some debt than to have none, little bit more money in my pocket but drive a boring car. Cheers! :cheers:

Looking at that 57 chevy, I do not think that he will be driving a boring car... besides many folks that think like you are suggesting are now living their 80's saying hi to people as they walk into Walmart, and checking their receipts as they leave. Clearly there is a line to walk between enjoying yourself and being responsible.

Chris

 

[opensesame]

Looking at that 57 chevy, I do not think that he will be driving a boring car... besides many folks that think like you are suggesting are now living their 80's saying hi to people as they walk into Walmart, and checking their receipts as they leave. Clearly there is a line to walk between enjoying yourself and being responsible.

Chris

Yes, if your in your 80s and you need to work at walmart, your doing it wrong. Obviously have an RRSP you can retire on. Also you can lease or finance the Mustang so you are not really paying lump sum out of your savings up front.

 

[wilkinda65]

I actually purchased mine with the intent that it would be paid off about a year or so before I retire.

 

[DirtyPope]

In a few years, buy a perfectly good used one. There will be a zillion out there.

EXACTLY!

 

[Spartan]

Sounds like you really want the Mustang.

I bet you can find a way to make it work (like working part time for a few years in retirement).

Yes, if your in your 80s and you need to work at walmart, your doing it wrong. Obviously have an RRSP you can retire on. Also you can lease or finance the Mustang so you are not really paying lump sum out of your savings up front.

I wouldn't say that's accurate. There are many older individuals that like to work and stay busy and being there at Walmart gives them not only that, but also allows them to interact with people they probably would never see and keeps them 'in the world'.

 

[Bay1Stang]

This is a domestic car. Depending on how long you can hold out you can get it used for a bargain.

 

[Strokerswild]

I have to say that The Wait to get mine has given me time to question whether it's the right thing to do. My drivers (2013 and 2011) are paid for and will last for many years, and my only debt is what's left on my house (far less than half its value). My inherent frugality us rearing its head, and spending this much on a weekend toy is making me think.

But, on the other hand, the wife gave the green light, and I've always wanted to order one and buy it new since I graduated from college almost 22 years ago, so here I am. I hope the car lives up to my expectations.

 

[JonnyMustang]

Try not to think that way. Yes you have debt. But what if your died tomorrow? Live each day as your last. I would rather have fun driving a mustang and have some debt than to have none, little bit more money in my pocket but drive a boring car. Cheers! :cheers:

Sure, that's one way to think about it...but your estate (or widow in some states) is responsible for any debt you leave. You'd need to make sure you put enough down to cover future depreciation in case your family had to sell the mustang.

 

[pyrophilus]

This Mustang was supposed to be a retirement or "Last Fling" send off for us. But now that cooler heads are prevailing, spending almost $40,000.00 for a toy really doesn't make financial sense when you're heading for a fixed income in retirement.

I guess being a motorhead you want a V8? Because a base V6 or an EB base can be had around where I am for around $24-25k.
Even my EB Premium was $29k, and while I certainly could have haggled much more, I got them to give me $2k more than what I wanted for trade in, so my EB ended up costing around $17k (including trade in).

When someone asks, Mustang on a teacher's salary!?!?

Hyundai wanted $5-$8k to replace my clutch... $8 for new clutch or spend $8 more to get a mustang???

 

[Spartan]

Per another thread there are already USED 2015 Mustangs on Cars.com

 

[Khyber]

can't take the money when you die.

 

[JimmyTwoTimes]

SI wouldn't say that's accurate. There are many older individuals that like to work and stay busy and being there at Walmart gives them not only that, but also allows them to interact with people they probably would never see and keeps them 'in the world'.

I don't know about Wal-Mart, but I know plenty of people who work well into their '80's -- generally hyper-driven finance and business types who have worked 16 hour days 7 days a week for their entire lives and are not about to stop now just because they're older. I mean, Warren Buffett is 84. There are a lot of people out there I know who plan to drop dead at their desk.

 

[Hack]

Travel instead.

That's what my GF would say. I personally think money for travel might as well be poured down the drain. I'd much rather have a fun car that I will use every day than have a couple day experience that is here and gone in virtually a wink of an eye.

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