Avalyn
Well-Known Member
- Joined
- Sep 26, 2017
- Threads
- 6
- Messages
- 76
- Reaction score
- 30
- Location
- Aberdeen, Scotland
- Vehicle(s)
- 2016 Mustang GT
- Thread starter
- #1
Following on from my thread last week about lots of people selling up (and I can't say at that point I was 100% thinking about it), I've gone and traded in the Mustang.
I love the car, but I'm a serial car changer and there's always something else out there I want to try. I wish I could say I'm going to keep a car one day, and actually own it outright but I either a) can't or b) just haven't found the one yet.
My reasons for changing are partially to try something else, but mostly financial. I'm an economist by the way, understand the ins and outs of finance. I don't always act with my maths head on, and sometimes my priority isn't overall cost, but what I would like to pay monthly for a car. I have a few investments, a fair chunk of cash in the bank, decent amount of equity in a house, earn a good living in oil/gas etc.
I can afford the car I could buy it outright if I used my piggy bank savings but it's on PCP. I put a fair chunk of spare cash into it (£10K) and it costs me @£320 a month on finance, fuel, insurance, GAP and road tax.
I've looked at a few other cars lately, mulled over a few deals and started to get a little concerned at the drop in trade in prices I was being offered :( what was 28.5/29 in the last couple of months was looking more like 26.5/27 (clearly dependent on the other car).
I'm guessing in 3 years when my PCP was up, that 10K I put in would effectively be sod all, and I'd be having to find £14k to own the car.
It was also booked in to get the wheels refurbished in a nice dark bronze colour and have 4 bits of rubber that actually grip the road on it - @£1000 all in. My rears are pretty much on the wear indicators
I potter around town mostly, ferrying my daughter back to the ex, or to her various clubs etc. The new missus and I do a weekend away every now and again, but we managed fine when I had the Boxster. The Mustang is a big car with not so much interior space.
What I actually need is something smaller, quick to keep me amused, has to sound decent, but is cheaper all round as an ownership prospect. The question is could I trade the Mustang, get a fair chunk of the equity I had in the Mustang back while keeping my monthly outgoing the same :shrug:
Answer, yes I can :doh: .. so that's it. The Mustang goes this week, there's about £7k coming back to me, and I've actually reduced my overall monthly cost for a car. Not that hard when you're not paying £45 a month for road tax, £36 for insurance etc. etc. and I'm no longer about to shell out £1,000 on wheels and rubber.
What will I miss - the noise, the glorious noise :love: the looks - it turns heads all the time, just the feeling of owning a big old v8 manual. It's cool as ...
What will I not miss, hmm not a lot. I could stretch it to 30 mpg on a run, I thought the interior was very good and the kit it came with comprehensive.
It felt a little big to potter around town in and on the wee nuggety B-roads up here I was quicker in the wife's 208 GTi. Maybe it was the eibach springs but I never quite had the confidence to really push the car on bumpy roads. I felt a bit leaden so I tended to just use it like the GT car it actually is. I won't miss the black paint, well specifically the amount of it jeeso that thing could take an age to wash and polish :headbonk:
I'm really pleased I owned a Mustang, granted for a way shorter period than I imagined. I think if I hadn't bought it I would have always wanted one anyway - so as my Dad said - scratch itched. Time to be a little more sensible
You never know, one day I might be back
I love the car, but I'm a serial car changer and there's always something else out there I want to try. I wish I could say I'm going to keep a car one day, and actually own it outright but I either a) can't or b) just haven't found the one yet.
My reasons for changing are partially to try something else, but mostly financial. I'm an economist by the way, understand the ins and outs of finance. I don't always act with my maths head on, and sometimes my priority isn't overall cost, but what I would like to pay monthly for a car. I have a few investments, a fair chunk of cash in the bank, decent amount of equity in a house, earn a good living in oil/gas etc.
I can afford the car I could buy it outright if I used my piggy bank savings but it's on PCP. I put a fair chunk of spare cash into it (£10K) and it costs me @£320 a month on finance, fuel, insurance, GAP and road tax.
I've looked at a few other cars lately, mulled over a few deals and started to get a little concerned at the drop in trade in prices I was being offered :( what was 28.5/29 in the last couple of months was looking more like 26.5/27 (clearly dependent on the other car).
I'm guessing in 3 years when my PCP was up, that 10K I put in would effectively be sod all, and I'd be having to find £14k to own the car.
It was also booked in to get the wheels refurbished in a nice dark bronze colour and have 4 bits of rubber that actually grip the road on it - @£1000 all in. My rears are pretty much on the wear indicators
I potter around town mostly, ferrying my daughter back to the ex, or to her various clubs etc. The new missus and I do a weekend away every now and again, but we managed fine when I had the Boxster. The Mustang is a big car with not so much interior space.
What I actually need is something smaller, quick to keep me amused, has to sound decent, but is cheaper all round as an ownership prospect. The question is could I trade the Mustang, get a fair chunk of the equity I had in the Mustang back while keeping my monthly outgoing the same :shrug:
Answer, yes I can :doh: .. so that's it. The Mustang goes this week, there's about £7k coming back to me, and I've actually reduced my overall monthly cost for a car. Not that hard when you're not paying £45 a month for road tax, £36 for insurance etc. etc. and I'm no longer about to shell out £1,000 on wheels and rubber.
What will I miss - the noise, the glorious noise :love: the looks - it turns heads all the time, just the feeling of owning a big old v8 manual. It's cool as ...
What will I not miss, hmm not a lot. I could stretch it to 30 mpg on a run, I thought the interior was very good and the kit it came with comprehensive.
It felt a little big to potter around town in and on the wee nuggety B-roads up here I was quicker in the wife's 208 GTi. Maybe it was the eibach springs but I never quite had the confidence to really push the car on bumpy roads. I felt a bit leaden so I tended to just use it like the GT car it actually is. I won't miss the black paint, well specifically the amount of it jeeso that thing could take an age to wash and polish :headbonk:
I'm really pleased I owned a Mustang, granted for a way shorter period than I imagined. I think if I hadn't bought it I would have always wanted one anyway - so as my Dad said - scratch itched. Time to be a little more sensible
You never know, one day I might be back
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