A Good Deal?

[Lancaster]

Hi folks - a UK bod here. I own a 2020 GT with 15K on the clock. I have the opportunity to chop my car in and get into a late 2022 Mach 1 with 3K on the clock for an extra £4K down and extra £100 a month. Does that sound like a good deal? Appreciate the Mach 1 is newer car and has a higher list price so is always going to cost more (and will probably have a higher resale value) but keen to know views on whether it’s a good opportunity. I completely appreciate though at the end of the day it’s my car, my choice, efc.

Having just driven it I wouldn’t say the drive was massively different to my car. Being a UK car it doesn’t have the handling package but that’s all ok by me. My immediate observations were that the ride was calmer and less fidgety and bouncy (no doubt as the Mach 1 has magneride and mine hasn’t) and curiously the Sport+ was much less aggressive than mine (again perhaps because mine has a mild remap). Speed and handling wise it felt pretty much the same, accepting of course I wasn’t wringing it’s neck around a track. The other thing I noticed is that flicking through the modes I didn’t see ‘MyMode’ - doesn’t the Mach 1 have that option?

All in all I liked the car and I love the colour combo, but just a bit uncertain if it’s worth the extra outlay. Photo of Mach 1 attached.

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[young at heart]

Since you’ve expressed $ outlay in monthly terms I can’t advise you on whether it’s “worth” it or not. But I will say that if you don’t find a massive difference between the two cars I wouldn’t consider doing a trade. Why would you?

When I traded my 22 GT for my 22 M1 the difference was so staggering that the two cars could have been made by different manufacturers. No kidding. And both were 6MTs.

 

[Lancaster]

Interesting that you saw a night and day difference between the two. To be honest I was expecting to find more of a difference but, except for the points I’ve already mentioned, I didn’t notice a major difference. Ok, I only drove it for 30mins but I was probably expecting to feel a bit more. One other thing I did notice though was that the panel gaps and door alignment was much better than mine!

Value wise, I’ve got the Mach 1 down to £53K and essentially with a £11K deposit (equity in my car and an additional £4K) it works out an extra £100 a month. Unfortunately the interest rate isn’t as good as I previously got but that’s sign of the times.

 

[cerbomark]

magna ride is a big upgrade .
$100 a month for how many months/. total?

 

[Lancaster]

It’s over 4 years. So if I keep the car that long it would be an additional £4,800.

 

[RagmopInKona]

So 9 grand more + whatever you spent on your 2020 to buy it and payments already made.
R U going to be able to use any of the extra handling the non hp mach-1 might have over your gt?
Only you know if it will be worth the extra cash
To me, it boil down to if you plan on keeping the car or not.
If in 12k miles you are looking to get something else you just tossed 9k out the window as the used car market will have come back to reality by then.
If you like the mach-1 more than what you have and think it is worth the extra 9k. and can afford it, have at it.
Me, the gt will turn just as many heads over in the uk as the mach-1 as I'm sure they are not a dime a dozen like here in the usa.
if it is a keeper, go for it, if in 2 years you are looking to move on, stick with what you have.

 

[SSG 5.0]

If the money is not a concern, I’ll take the
Mach 1 all day. The looks of the Mach 1 imo is really good. If you want it faster, FI and tires are your friend. Good luck and update us with your decision.

 

[ajsfirehawk]

Newer car, lower miles, Tremec trans, and magneride...I think it is definitely worth it.

 

[AZlb5.0]

When it comes to monthly payments it only has to make sense to you to be honest. If you feel you’re good with it pull the trigger and jump on it. No one here has a financial stake on your personal finances or decisions. The only thing I say to people financing and making monthly payments is if it’s not going to affect you negatively do it and I say this on a simple human level. Enjoy your new ride. Looking forward to seeing pics.

 

[Driv3n to Dr1ve]

They won’t feel drastically different as you’ve discovered since they’re both mustang GT’s. Mach 1 is just more track focused, so I’d buy it if your plan is more aggressive driving. Also don’t bother buying a mustang for resale value unless it’s a nicely specced GT350 R

 

[RTR077]

Just checking the math here OP.

4k GBP down and 100 GBP for 48 months = 9800 GBP total?

 

[Farkel]

Whether it's a "good deal" comes down to how you feel about it. That being said, it's two years newer, looks great, and has magneride, which is a definite plus. I think My Mode only shows after you've set your own parameters; otherwise the mode toggle goes directly from Normal to Sport+.

 

[Lancaster]

Just checking the math here OP.

4k GBP down and 100 GBP for 48 months = 9800 GBP total?

Yes, £9,800 will be the total additional outlay that I’ll explicitly have to pay over the full term. However, that doesn’t include the £7K equity I have in my car. So whilst I don’t have to pay that £7K myself, in a sense I’m still losing it as if I sold my car today and didn’t buy a new one I’d have £7K sitting in my bank.

 

[Lancaster]

Thanks all - some really interesting and sensible points here. I said I’d let the sales guy know on Tuesday.

As many of you have said, ultimately if it’s something I can afford and will get pleasure from it then go for it. I normally don’t worry about resale value too much as is always flip my cars when the 3 or 4 year term is up anyway and the final value is usually spot on what was originally calculated.

I guess on this occasion I’m only thinking about it as since I got my GT the second hand car market has moved in my favour and if I bought it I could sell it straight away and make some money or alternatively keep if for another year and then sell it and get back roughly what I paid for it (so essentially a year’s free motoring). However, I’ll have to buy a new car on finance at some point where I’d then be asked to put down a deposit so it’s all probably academic anyway.

One question about the Magneride, does it have settings you can flick through like most electronic dampers or does the car do that automatically for you (i.e. the faster you go more the suspension tightens up)?

 

[ice445]

Yes if keeping the Mach 1 for 5 or more years from now. No if you're the type to get bored by then. The improvements are fairly subtle overall.

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