Modifying your Mustang - Is it a "waste of money?"

[GOTdaBLACK1]

"Fast cars, fast women, and beer. And then, the rest I waste." -unknown-

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[IronG]

The only time you can "waste money" is if you yourself deem it so. No matter what anyone else says, if you believe the money was worth whatever you did with it, then it was money well spent.

 

[Grimace427]

Lol that's me in the top right!

 

[Coloradoeco]

OP..

I had a 2005 Mustang GT, I said screw the warranty, I started modding from day one.
I spent a lot of money trying to get a fast 1/4 mile Naturally aspirated Automatic mustang GT.
Diff, Gears, One piece Driveshaft, torque converter, headers exhaust, cams, springs, heads intake, suspension and the list goes on.
and what killed me was that 6 years later the stock mustang gt ran the same times I was getting with my 2005.
So was it worth it? Not really, I tried to trade the car in 2017 and they only offered 3000.00 KBB had 8800.00 No accidents, perfect paint. I sold it out right for 6800.00 with 148.000 miles.

It only ran [email protected]

Try Blackbook valuation, they aren’t as inflated with their numbers. Cars.com uses them for valuation, partly because Autotrader bought KBB of course.

 

[sdiver68]

If it makes you happy then no, not a waste of money. People who say that are really saying they would be happier with something else.

Only you can decide for yourself what is a waste and what is worth it. Sometimes, those decisions are made in hindsight.

 

[Bull Run]

All,

I would like your thoughts on this subject. I know a lot of people who aren't interested in the car modding world that say modding your car is a waste of money. They always say, "You'll never get that money back" or "Spend that money on a vacation instead" etc. I'm positive you all have heard those naysayers comments at least once.

What are your thoughts on modding your Mustang, or any other car for that matter? How do you justify your purchases on your car?

Hobby: A hobby is a regular activity done for enjoyment, typically during one's leisure time. Hobbies include collecting themed items and objects, engaging in creative and artistic pursuits, playing sports, or pursuing other amusements. Participation in hobbies encourages acquiring substantial skills and knowledge in that area.

It doesn't say anything about hobbies needing to make financial sense. I'm a tinkerer so I actually get enjoyment out of modding things, whether they're cars, computers, or gadgets. Right now, I put a higher priority on family vacations since my daughter's 8 years old and still likes to hang out with us but I worked hard in growing the "E" (Earn) portion of ESI so I can enjoy all of my hobbies without the guilt. Either way, I think you're good as long as you don't end up like the guy in the 20/20 video below.

Hahah, reminds me of this classic gem.

[ame]

 

[MikeHTally]

I remember a Craig's list ad for a 2001 Dodge pickup. It was lifted, big wheels and tires, headache bar, lights, etc., etc.

"...I only want what I have in it, $22,000 ...".

Good luck with that. It was worth MAYBE $9,000 and that only to someone who wanted that type truck. Book on it was about $7K. The ad was withdrawn pretty quickly.

 

[Rickycardo]

It is a complete waste of money. But it can be the best waste of money in your life.

 

[ChromaticGrey]

Waste of money? Technically. Sure. In practice not really. Ice cream is a waste of money. A dinner out is a waste of money. A vacation is a waste of money. It's not essential to live.

So no it's not a waste of money. Unless your spending what you can't afford, then it's just not a great idea.

 

[Blue Moon]

"Fast cars, fast women, and beer. And then, the rest I waste." -unknown-

 

[Biggus Dickus]

Now that I have a bit more wisdom and I'm past a few money pits (KB Cobra, LSX 454 Vette), I vote for no modding. The only thing I did for my RS was 93 octane tune. My "mod money" turned into a $25K down payment on my Mustang. Money better spent IMO.

 

[boB]

It's a waste of money.
Now that we have gotten that out of the way, who cares if its a waste, let the modding begin!

Myself, I go for minimal mods and probably will only add a MGW shifter but it has little to do with wasting money, I am good with that! $$$

 

[FruityJudy]

If it brings happiness to you in some fashion, its never a waste of money.

 

[Voo Doo]

I’m a Mod guy... and always will be!! I’ve had Zero debt since 2000..so it’s all mine.. mods or hot-rodding generally means you’ll get 50% on the dollar invested! I stuck with muscle cars thru the years.some 20 or so!! Am ahead of the game by $16 G’s !! Some were simply flippers!! Made good coin!

A total waste of money is when I bought a 2012 BMW 6 Series Coupe!! Took me a year to get it!! Lost a boatload!!! But I don’t care!!...speaking of Boats....???? lmao, there’s another topic!! But not here!!

 

[cosmic charlie]

Anything that makes it go faster, turn better,stop better, look better and sound better is worth every penny! If you don't want to lose anything don't sell it.

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