Am I dumb for passing on this deal

[GTP]

OP, I would trade my nearly-new-condition 2016 if I found a deal like yours. However, the 2018 GT PP I really wants list at ~$53k.

This thread developed so fast. I was about to suggest that you can get another ~$1000 closer by selling off your mods, but you already bought the '18, so ... :cheers: !!

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[PrimetimeKenny_S550]

Thank goodness you did not trade in your car and instantly lose a couple of grand, just to ''upgrade'' to an A10 and DI. Not to mention how many of us just go with 72 month terms! Cars get to a point in which you realize that you can only go so fast, and do so much with street tires. At 24, I am glad that I am realizing this now rather than later! At times, I wished I would have put down money earlier on the Stang, but now the payments towards principle are much higher, so It is making more sense to pay additional payments towards my Home (Fixed Asset) vs my liabilities (Stang, other dumb ''Stuff''). Bottomline, you avoided making a mistake OP!

-There's always going to be something faster, with more gears, horsepower, voice control, larger display screen,automatic butt scratcher etc..

 

[PrimetimeKenny_S550]

Dang, just read where OP bought the '18 :headbonk:

So that no one should ever feel bad about dumb financial mistakes, there is always the intrinsic value of fulfilling wants. Please see how I traded a '14 Altima in for a '17 Explorer Sport, and I had -$8000 in negative equity on the Altima. Life's all about learning lol.

:ford:

 

[GNN60GT500]

Dang, just read where OP bought the '18 :headbonk:

So that no one should ever feel bad about dumb financial mistakes, there is always the intrinsic value of fulfilling wants. Please see how I traded a '14 Altima in for a '17 Explorer Sport, and I had -$8000 in negative equity on the Altima. Life's all about learning lol.

:ford:

Lol yeah if I waz upside down 8k I would have never done this deal lol
When I was young I was smart like you but now that I'm older and have the income to support my habit ... well I'm not getting younger lol

 

[PrimetimeKenny_S550]

Hey, as a member of Generation Y, I implore you to adapt a YOLO mindset! Biggest mistake, was buying a mid-size, rent-a-car, bare bones sedan, they tank like no other! At least, our Stangs will usually always get fair trade in values! I hope you enjoy the '18!

 

[Kevin08]

$890 monthly payment? Clearly I do not make enough money.

 

[PrimetimeKenny_S550]

$890 monthly payment? Clearly I do not make enough money.

It's actually $817.96 a month because of 0% interest. This thread actually made me correct that sheet because I had 3% plugged in for some reason.:headbonk:

 

[rum_punch_ruby]

and that's on top of your $507 mustang payment. dayum, playa!

congrats to the OP on the new ride

 

[GT-SV]

Better deals can be had later, no rush.

 

[GT-SV]

It’s only money. CONGRATS on the new ‘18, enjoy!

 

[earlingy]

Nope, you got a good deal on your '17, keep it.

 

[Spork3245]

My biggest problem is Im going to put 150K-200K miles on this car...If this was my "garage car" I would no doubt throw a blower on it and never look back... but at 30K miles a year - I need to keep it relatively stock

I would do the GT350 but too much time in traffic (need auto) - and I like the Vette but I need back seats...but yes I can afford them : )

If I kept the 17 I would PP3 it- if I traded it in- it was a 2K hit as well so all even in my book so the biggest question was do I want to run a 30K car into the ground over the next 6-7 years or a 40K car into the ground over the next 6-7 years .....

Depreciation curves don't matter on a 6-7 year old car with 180K miles on it : )

So the real question was do I want to run a 30K car into the ground or a 40K car into the ground...

I usually keep my cars to 150K miles- so this was a first for me- but I went ahead and did the deal...

Only losing 2K on the 17 was too damn good to pass up.

I do well- my wife does well - and I decided if I spread the extra 10K over 6-7 years - well the difference is worth it to me to move between the cars...

Just got home with the new 18 : )

POST PICS! WHAT ARE YOU EVEN DOING RIGHT NOW?!?!?

 

[Nomadic]

$890 monthly payment? Clearly I do not make enough money.

Huge monthly payments aren't a sign of wealth necessarily. They're a sign of debt.
I have a friend that makes very good $ but has a family to support and pays about $900/mo for his no money down SRT Challenger. And he has about $8-10K in savings. (yes, that's a LOW number)

My brother is a bankruptcy attorney and his clients routinely have very nice cars and huge payments......and no money in the bank.

Not true in all cases but if you can't write a check for your car without it making a dent, then you're just in debt. And you're paying a good chunk of $ just to borrow $.

 

[Zelek]

Huge monthly payments aren't a sign of wealth necessarily. They're a sign of debt.
I have a friend that makes very good $ but has a family to support and pays about $900/mo for his no money down SRT Challenger. And he has about $8-10K in savings. (yes, that's a LOW number)

My brother is a bankruptcy attorney and his clients routinely have very nice cars and huge payments......and no money in the bank.

Not true in all cases but if you can't write a check for your car without it making a dent, then you're just in debt. And you're paying a good chunk of $ just to borrow $.

My favorite is the new BMW M series owner who pulls into an apartment complex. Priorities...

 

[thill444]

I always put 40-60% down, even on low interest loans and pay my cars off early. Cars are incredibly depreciating assets. I get that with low interest loans you can use the cash for other things, but if your payment is lower every month you can use that cash you are not putting into a car payment for other things and you are also not upside down if something happens and have a more manageable payment.

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