GT350, worth the payment?

[firestarter2]

I debated between GT350 or going with a Premium GT and adding a Whipple. I love my GT, and if I had it to do over again 10 times, i'd make this same decision 10 times. However, I have seen a few GT350's at the dealership, and my mouth waters every time. While I love my GT with the Whipple, I am not nieve to cool factor and mystique of the GT350. While I made my decision, and stand by it, I could also 100% agree with the exact opposite theory, in regards to just getting the GT350. Just to say "I have a Voodoo engine under the hood" sounds COOL. I totally understand that I have offered zero value to OP's actual question, and for that, you all can thank me LOL Will always adore my GT, yet will always hold a nice amount of envy for you GT350 owners. :cheers:

The GT is a nice car I appreciate it more now actually they did a good job with this body style. I wanted something id be less motivated to mod.

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[krt22]

I can't even imagine having a car payment of $500 +. I'm 41 now, but my rule of thumb has always been to never buy a car unless i could put at least 50% deposit down. That meant buying cheap cars for years, but eventually you get ahead of the game and start paying cash for cars. Just starting out...no way would I have saddled myself with a $700 car payment. Just my two cents.

With interest rates so low, it really doesnt hurt if you have a smaller down payment in the long run.

OP-We don't know your full financial situation, so we can't say for sure what is best. But if you can pay all of your expenses, save, put money into your 401k, and still afford the additional car payment then why not?

I for one had a $500 car payment before I officially graduated college 11 years ago.

 

[bgexpress]

With interest rates so low, it really doesnt hurt if you have a smaller down payment in the long run.

OP-We don't know your full financial situation, so we can't say for sure what is best. But if you can pay all of your expenses, save, put money into your 401k, and still afford the additional car payment then why not?

I for one had a $500 car payment before I officially graduated college 11 years ago.

I have no debt except a very small loan on my s2000 which I would sell and use as a down payment, right now I would say I'm only using about 25% of my monthly income on expenses. I'm thinking of buying a mustang GT anyway and know I could afford that but I'm worried if I go for the GT I'll regret not just going all the way and grabbing the gt350.

I will be tracking whatever car I buy about 4 times a year so that is another important factor. I got a call from the dealer saying they sold the base gt350... so now most options are above 55k. I think I need to save a little longer and go for the gt350 sometime in 2017.

 

[5.0 435]

Do not buy a base 350 model unless it's a 2017. It seems like yesterday when I bought a used one year old 1970 Mach 1
Being fresh out of college and my first job. Vietnam right around the corner. Not sure which way was up. Those were crazy times for sure. Drew a high draft number or it was the rice patties for me for good. I do remember buying a 351 2 barrel because the insurance for a 428 was sky high. Plus a 428 would have probably killed me. I felt lucky to be alive as it was.

 

[Superdog]

I have no debt except a very small loan on my s2000 which I would sell and use as a down payment, right now I would say I'm only using about 25% of my monthly income on expenses. I'm thinking of buying a mustang GT anyway and know I could afford that but I'm worried if I go for the GT I'll regret not just going all the way and grabbing the gt350.

I will be tracking whatever car I buy about 4 times a year so that is another important factor. I got a call from the dealer saying they sold the base gt350... so now most options are above 55k. I think I need to save a little longer and go for the gt350 sometime in 2017.

I will try not to beat a dead horse, but this is really one of my favorite topics as I am so grateful for some of the advice I got when I was younger. That said, I will add one more item.

The new "upgrades" for the GT are nothing short of awesome. There are tons of interesting things that you can do, and you can do them over time. And they are done by Ford and you keep the warranty.

If you are spending only 25% of your income on expenses, you are in a position to set yourself up for a really nice comfortable life. The decisions you make today, can potentially effect you for decades to come.

Nothing wrong with living with mom and dad. I respect that a ton. I wish I did it for longer (I freaked out after 10 months and moved to another state). But nothing worse than picking up your hot date, in your hot car and having no place to bring her but your childhood bedroom.

Again, I am done here and wish you nothing but luck. But if you could find a nice balance and put it all together, you will thank yourself in the future.

 

[PatrickGT]

Hey guys,

Long time lurker here thinking about purchasing a base 2016 gt350. My current daily is an s2000. Love my s2000 but looking for something with more power. I am a recent college grad with a well paying engineering job and few expenses. I have been lusting over the s550 since it was released but now that the gt350 came out I feel like I would be crazy to spend 35k if the gt350 is obtainable with a slightly longer loan term and a bigger down payment.

Feels a little crazy to buy such a nice car after not working for more than year, even if I can technically afford it. The question I really have is the ~700 dollar car payment worth it vs a GT with a ~500 dollar payment? Or would you say forget both cars and drive my s2000 until I have been working a while longer?

Thanks for sharing your responses and experiences

Year/miles/color/condition of S2K and price?

 

[ThreeFiveO]

Nothing wrong with living with mom and dad. I respect that a ton. I wish I did it for longer (I freaked out after 10 months and moved to another state). But nothing worse than picking up your hot date, in your hot car and having no place to bring her but your childhood bedroom.

Sometimes we had to bring our hot date back to our hot car, in which case you need a 70's sedan....... but I digress

 

[Superdog]

Sometimes we had to bring our hot date back to our hot car, in which case you need a 70's sedan....... but I digress

while hysterical, I can absolutely relate to that!!!

 

[John Montana]

With interest rates so low, it really doesnt hurt if you have a smaller down payment in the long run.

I just don't see any reason to risk owing more than something is worth; hence my 50% rule. This meant that in college I drove a $2000 Dodge Omni, and my first car out of college was an $8000 Jeep Wrangler. For me, the security was the most important factor. I never wanted to find myself (or my family) in a bad spot.

There is certainly something to be said for "you only live once" and playing it safe sure isn't sexy. Everyone has to make decisions they are comfortable with and I guess I have always been a low risk kind of guy. It has worked out pretty well for me and my family, but who knows...maybe I missed out on some stuff on the path to where we are now.

Tough call if you are on the borderline of what is "comfortable" for you.

 

[thehygienist]

Drive the S2000, while saving enough to pay cash for the GT350. If you have any other debt, pay that off first. If your priorities haven't changed by the time you go hunting for your GT350, you made the right decision.

 

[altjx]

If you can afford it, go for it. I'd say just make sure you're not dumping ALL of your money on the car. I dumped a good bit of money into my 15 GT and now I've bought a GT350 and selling the GT. I could have waited of course but even if it took me awhile to sell the vert, I'd still be very comfortable financially.

I'm sure many people wouldn't do it, but I'm the happiest I've ever been and embracing these wonderful years while they're here. Nothing's wrong with saving and investing of course, but it's also important to enjoy life.

Nice toys have always been my biggest motivation to move up in my career (I'm sure it sounds silly) and it's balanced out perfectly well over the years.

 

[krt22]

I just don't see any reason to risk owing more than something is worth; hence my 50% rule. This meant that in college I drove a $2000 Dodge Omni, and my first car out of college was an $8000 Jeep Wrangler. For me, the security was the most important factor. I never wanted to find myself (or my family) in a bad spot.

There is certainly something to be said for "you only live once" and playing it safe sure isn't sexy. Everyone has to make decisions they are comfortable with and I guess I have always been a low risk kind of guy. It has worked out pretty well for me and my family, but who knows...maybe I missed out on some stuff on the path to where we are now.

Tough call if you are on the borderline of what is "comfortable" for you.

Nothing wrong with that, I've never been close to upside on a loan either, simply saying some would prefer to keep the cash on hand and put less down.

 

[TTony]

If you have to ask I say no.

This.

Read a few of these types of articles and decide what is right for you: http://www.interest.com/auto/news/how-much-should-you-spend-on-car/

 

[whatjones911]

I currently drive a S2000 as well. The GT350 is the car of the moment that I currently lust for, hence why I roam this forum quite frequently. To help with you're dilemma, my insight is that it really depends on how much you want to OWN the car. Yes, income and financial sense comes into play, but at the end of the day it's how much you value having that car. I myself have decided to just continue enjoying the S2000 (love the car) and look for a used GT350 down the road. If you were already dead set on getting the GT, then I would say yes it is worth it to get the GT350.

 

[bgexpress]

Year/miles/color/condition of S2K and price?

2000 model year with 78.5k on the clock, I'm the second owner and it is 100% bone stock except for a nice set of coilovers. I'm sure I could get 13k out of it.

Thanks for all the thoughtful responses everyone, I'm going to take the mid ground, I really want to own this car but having investments, an emergency fund and a fat down payment will make me a lot more comfortable with the purchase. I'll be back in a year with pictures of my white gt350

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