Trading up for a GT?

[Asharus]

yeah, you can just put yourself deeper in the hole and mod your EB, that's your other option for now. just listen to all these guys that modded their EB, they have no RAGRETS

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[50hhh]

Sit on it for another year then trade it in on a GT when Ford ups the power to chase Camaro power numbers. You'll likely have a lot more positive equity a year from now.

Good idea but if ford were upping the power in 2017 I would probably have heard about it by now. I don't think you will see any refresh or engine changes until 2018.

 

[Charles147]

its stupid the fact that you talk about payments, its about how much you paid OTD for your ECO probably 28-31k OTD now they are giving you 22k thats a 9k loss in my book, always look for the bottom line

Many people live payment to payment and that's all that matters to them. They could care less how much they paid in the long run. Credit card companies love these kind of people.

 

[Speedos85]

My advice is to look very carefully and drive all the different GT variations before you pick one to reduce future remorse as much as possible. I.e. - aaack I shoulda got the performance pack!!!

It sounds like you are financially secure enough to buy if you want. Cars, especially new ones, are never a good investment, so I disagree with those that worry about loss. I feel someone with a newer car who is talking about depreciation or loss is not thinking straight. If they really think avoiding loss/depreciation is very important they should be in an older car, or not buy a car in the first place.

To me the main financial consideration is whether it will hamper other things such as your retirement investments and home improvements. Make sure you are leaving some room for those other important but not urgent things. Assuming you own a home and have retirement accounts - if not then my advice is delay any newer car purchases until you have your life in better order.

I'm going through similar indecision and thoughts because I bought my GT last November and I'm considering a GT350.

I maintain separate savings/emergency accounts, as well as my retirement/IRA/other investments through my credit union's financial services and planning. Any cost to do this would be coming out of my "play" money.

By no means am I rich...anyone who works at the branch level of a financial institution knows the salary isn't anything to write home about. I've just been able to manage my money well enough where I'm able to keep savings separate from disposable income, whereas my brother who makes nearly twice as much as I do is constantly borrowing money from my parents.

 

[Speedos85]

its stupid the fact that you talk about payments, its about how much you paid OTD for your ECO probably 28-31k OTD now they are giving you 22k thats a 9k loss in my book, always look for the bottom line

I didn't mention what my OTD was for the EB, but it was less than $25k. I also stated the payments aren't a concern for me because I've budgeted to make a minimum of double my monthly payments on my loan. I listed the difference in payments to illustrate the deal I'd be getting.

I'm a banker, finance is what I do. Long term, the difference between sticking with my EB or trading up to the GT is about $2000 (principal + interest) more spread out over the term of my loan assuming I follow the same payment schedule I have so far. Add in the depreciation from what I paid for the EB and what they're offering, and it's a total "bottom line" cost of around $4500.

 

[NewSVO]

I didn't mention what my OTD was for the EB, but it was less than $25k. I also stated the payments aren't a concern for me because I've budgeted to make a minimum of double my monthly payments on my loan. I listed the difference in payments to illustrate the deal I'd be getting.

I'm a banker, finance is what I do. Long term, the difference between sticking with my EB or trading up to the GT is about $2000 (principal + interest) more spread out over the term of my loan assuming I follow the same payment schedule I have so far. Add in the depreciation from what I paid for the EB and what they're offering, and it's a total "bottom line" cost of around $4500.

Well with only $3500 with a turbo upgrade you'll be whooping that car that felt so alive.

Clearly you're very intelligent and know how to manage money and the ins and outs of the daunting finance world, so I think you should do it but aim for a lower price on the GT, I've seen them as low as 27.5k

 

[John S.]

You only need to justify your purchase to yourself. If you want it go get it. Easy as that. Don't look for the approval from a bunch of people on the Internet.

 

[Asharus]

indeed, it sounds like he is. i'm sure he won't be spending 3500 in parts that add no value to his car. especially since he's in finance and has all his ducks in a row already.

 

[BBB]

its stupid the fact that you talk about payments, its about how much you paid OTD for your ECO probably 28-31k OTD now they are giving you 22k thats a 9k loss in my book, always look for the bottom line

 

[Speedos85]

Well with only $3500 with a turbo upgrade you'll be whooping that car that felt so alive.

Clearly you're very intelligent and know how to manage money and the ins and outs of the daunting finance world, so I think you should do it but aim for a lower price on the GT, I've seen them as low as 27.5k

I appreciate your input. I'll keep looking around. This was the best deal I was able to find around me, but the dealership needs to sell the car much more than I need to buy it.

I've been looking at the modding the EB, as well. I'm familiar with it, having modded past vehicles (bolt-ons, tunes, upgraded turbos, etc.), but I had a lot more free time back then and a second car to drive when necessary.

Thanks, everyone, for the (sometimes spirited) debates. I'll keep everyone updated on how things turn out!

 

[MichaelKael]

I think you should wait...
Cause you'd be losing all your premium features in the process that you got used to, over the past 10 months... You can live without em if you 've never experienced them, but it's hard to see them being taken away from you once you got used to em...
So then you'll regret losing your premium, then you'll regret not getting the 16 or 17 with the new features they'll bring you...

I mean I went with the V6, cause I also test drove the EB, and the GT was too much for me (price, insurance, car for a DD etc...), and I'm really happy with my choice, LOVE IT, but there's no way I would've pulled the trigger on a car without test-driving the other options in my price range...

 

[oilfieldtrash]

I didn't mention what my OTD was for the EB, but it was less than $25k. I also stated the payments aren't a concern for me because I've budgeted to make a minimum of double my monthly payments on my loan. I listed the difference in payments to illustrate the deal I'd be getting.

I'm a banker, finance is what I do. Long term, the difference between sticking with my EB or trading up to the GT is about $2000 (principal + interest) more spread out over the term of my loan assuming I follow the same payment schedule I have so far. Add in the depreciation from what I paid for the EB and what they're offering, and it's a total "bottom line" cost of around $4500.

The cost difference between a gt and base eco is 7k. Add in the fact you're losing at minimum 2k on the trade in you're at 9k dollars. Sure there is a little wiggle room but not that much. I honestly wasn't impressed by the gt when I got the itch to test drive one. It's faster. Not that much faster though. Definitely not worth losing money on my ecoboost then turning around and paying 7k more for the gt. Just my opinion. I really don't think it's the car. Cars never make you truly happy. You see plenty of people modifying gt premiums. I mean if you are not satisfied with that then what will satisfy you? I think you'll find once you get the gt is that eventually you're used to the coyote motor. Then what? You spending 10k on a supercharger?

 

[mustangs]

...I've seen them as low as 27.5k

The best I've gotten (granted it's via email) is $29,848 before rebate and TTL. Hopefully I can get it a little better once I'm in there ready to pull the trigger.

 

[bluebeastsrt]

IF you can pay for it, go for it but just FYI there are more cars out there than the "almighty 5.0" and 29k is not even a good deal for a base 5.0 anymore, you're also getting hella lowballed because you car can most likely be sold for 25 privately.

I'm guessing your car is stock too because if you drove my EB then a stock 5.0 you would be far from thinking "it feels much more alive"

And you EB owners run around this forum whining and crying every time one of us "ALMIGHTY 5.0" owners has anything to say about your 4 banger. It's always the V8 guys and their giant egos! It's never some kid with an inferiority complex stirring the pot...........Or is it? You own a friggin race car that takes down V8 cars at every stop light or something? Reason I ask is you seam pretty impressed with yourself!

 

[Ultimateone]

And you post in blue font.

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