What do you do?

[Nomnom]

What do you guys do to be able to afford this level of car?

I thought I was ready to get into the world of fast sports cars but after reading so much on various forums, I don't know if I can pony up the dough (haha) for something like the GT350.

My household is just in the 6 figures as I am sure most households on this forum are, but growing up driving "safe and boring" imports my whole life, I am having a hard time collecting all this cost together. Even a GT premium with PP2 under $50K still seems like so much, but then again I have always wanted a sports car and this goes in line with a few sayings: "you only live once", "you gotta pay to play", "money is replaceable".

Maybe I am looking to convince myself that this will be worth it. I feel I am going to spend my entire life saving money and never spending it.

I really want the GT350 though lol it's a ton of fun, and i am only scratching the surface because all i've done so far is take it on a 15 min test drive.

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[GTthree50]

I’m not going to comment on how I’m able to pay for my car but what I can say is that if it falls within your budget then yes by all means go do it. It’s a fabulous car.

 

[CobraO]

A 350 will hold its value much better than a GT. Keep that in mind. It will still depreciate, just not as bad. Example, look at the Raptor F150 vs a regular F150.

 

[Wildcardfox]

What do you guys do to be able to afford this level of car?

I thought I was ready to get into the world of fast sports cars but after reading so much on various forums, I don't know if I can pony up the dough (haha) for something like the GT350.

My household is just in the 6 figures as I am sure most households on this forum are, but growing up driving "safe and boring" imports my whole life, I am having a hard time collecting all this cost together. Even a GT premium with PP2 under $50K still seems like so much, but then again I have always wanted a sports car and this goes in line with a few sayings: "you only live once", "you gotta pay to play", "money is replaceable".

Maybe I am looking to convince myself that this will be worth it. I feel I am going to spend my entire life saving money and never spending it.

I really want the GT350 though lol it's a ton of fun, and i am only scratching the surface because all i've done so far is take it on a 15 min test drive.

You may not be able to afford new but there are many used cars available that will be in the under $50,000 range. There’s no shame in buying something that doesn’t destroy your budget and allows you to have fun while paying your bills and keeping a roof over your head.


A few such car for examples

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=517787891&zip=92553&referrer=/cars-for-sale/searchresults.xhtml?zip=92553&listingTypes=USED%2CCERTIFIED&sortBy=relevance&incremental=all&firstRecord=0&marketExtension=on&modelCodeList=MUST&makeCodeList=FORD&searchRadius=0&trimCodeList=MUST%7CShelby+GT350&listingTypes=USED,CERTIFIED&numRecords=25&firstRecord=0&modelCodeList=MUST&makeCodeList=FORD&searchRadius=0&makeCode1=FORD&modelCode1=MUST&clickType=listing



And


https://www.carmax.com/car/16005233

 

[Nomnom]

You may not be able to afford new but there are many used cars available that will be in the under $50,000 range.

thanks for sending those over! yeah i am seeing them around here and there. I drove one a few days ago, 2018 Race red only 1.1K miles going for $53,900, seemed like a pretty good deal.

 

[Hack]

What do you guys do to be able to afford this level of car?

The GT350 was always a stretch for my comfort level with spending on a car, but I do cheap out on everything else. Cars are high on my priority list - after mandatory saving for retirement, etc.

Having said that, I've gone to something less expensive so that I have more "mad money" for track days and other fun stuff. You can always buy used as well.

I think a lot of GT350 owners make more than I do for various reasons. They live on the coasts, own their own business, have a better job, etc.

 

[sublime1996525]

I saved and kept trading up.

 

[datadatum]

Don't stretch your personal finances for a car. One of the worse financial mistakes you can make.

And don't listen to the other enthusiasts that tell you it is a good idea - it isn't. You already know this, so stop seeking validation from the very place you are most likely to get it.

 

[CCasey]

I wanted a Shelby Mustang since I was about 7 years old. Hard work paid off. It was my dream car that my wife got sick of hearing about. "You're not getting any younger" is the statement that pushed me over the edge. I am lucky enough to add the GT350 as a toy and not a daily. I do not mean that in an arrogant way whatsoever....but what I'm trying to say is of you can do it without killing yourself DO IT!

 

[Narwaniec594]

Every person has a different life and financial situation. And you have to look into yours and see if there is a room for gt350. If you will get a loan, payment is just a beggining. You have to add insurance, gas, wear and maintnance. Its not too bad if you daily sometimes and use it on weekends. If you want to track it, costs add up really quick.
In my case, on truck driver pay, i made sure that i am financially stable and set in life for now before i can buy my shelby. Found one of the cheapest 2017 buy back ruby red and enjoy it every minute of it! I wish i could track it every weekend, but its expensive so 4-5 times a year its good enough for me. Tell you one thing, gt350 will.make you feel like a million bucks

 

[rebellovw]

A 350 will hold its value much better than a GT. Keep that in mind. It will still depreciate, just not as bad. Example, look at the Raptor F150 vs a regular F150.

No it won’t that is a completely false statement that many people tell themselves - and spread around. The 350 will depreciate by about the cost of a new base GT.

You would have to buy one used in the low 40s for it to hold its value which isn’t a bad idea if you are ok with someone else’s car.

You see 2013 2014 Gt500s in the 20k range.

I wouldn’t base a decision on that.

 

[rebellovw]

You should really test drive a fully loaded brand new PP1 which I feel is the sweetspot. Bullitt perhaps low 40s too if you can stand the color - I couldn’t. You can get one with all the great options for 40k flat if you shop around and that shouldn’t break the bank.

Finances are very important to me trying to save and to be able to retire young ( member of bogleheads.)


PS I love the 350 - ever since it came out - it is the reason I have my new Mustang which I absolutely love. I thought about it since 2015.

 

[MrCincinnati]

What do you guys do to be able to afford this level of car?

I thought I was ready to get into the world of fast sports cars but after reading so much on various forums, I don't know if I can pony up the dough (haha) for something like the GT350.

My household is just in the 6 figures as I am sure most households on this forum are, but growing up driving "safe and boring" imports my whole life, I am having a hard time collecting all this cost together. Even a GT premium with PP2 under $50K still seems like so much, but then again I have always wanted a sports car and this goes in line with a few sayings: "you only live once", "you gotta pay to play", "money is replaceable".

Maybe I am looking to convince myself that this will be worth it. I feel I am going to spend my entire life saving money and never spending it.

I really want the GT350 though lol it's a ton of fun, and i am only scratching the surface because all i've done so far is take it on a 15 min test drive.

Figure out how to afford it comfortably then decide if you still want it. These cars will be around for awhile.

 

[Shift]

No it won’t that is a completely false statement that many people tell themselves - and spread around. The 350 will depreciate by about the cost of a new base GT.

You would have to buy one used in the low 40s for it to hold its value which isn’t a bad idea if you are ok with someone else’s car.

How is that a complete false statement? It even beats Porsche for resale values, which is pretty fucking amazing to put it lightly.

https://www.kbb.com/new-cars/best-resale-value-awards/best-resale-high-performance-car-2017/

I bought my GT350 brand new back in 2016 for $50k and driven it 20k miles, and 3 years later the trade in value is still above $40k.

A 2018 Mustang GT Premium's MSRP is $45k. Let's say you got it for $42k-43k which is around invoice. That car with 10k miles is now worth $32k a year later. That's a 24% drop within just a year compared to my GT350 at less than 20% over 3 years. Regular Mustang owners all take a bath on depreciation.

 

[nastang87xx]

Online forums that pedestal depreciating assets are not good places to have finance conversations. Every person's situation and priorities are different but one thing I will say is don't be house broke and definitely don't be car broke.

Now let's frame things a little differently too: if you're looking for a sports car that's fun with a V8 and the price range of a new Mustang is making you tremble, you'd have to be crazy to not consider a C6 Grand Sport.

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