Average S550 monthly payment?

[wynand32]

This is not a straightforward thing to answer though. You can’t just look at payment and interest without taking the potential depreciation, or lack of it, into account. I bought my R in march for 62k. Paying 1.99% on 65 months through credit union. I would do that all day as I view that transaction similar to capital preservation, assuming it will hold value in near and long term. Debt is not a bad thing, misuse of debt is.

Exactly, it's all extremely complicated if you're trying to suss out the right financial decision.

That's why I always tell dealers not to ask me what monthly payment I want to hit. There are too many things they can manipulate to hit that payment that aren't good for me financially. And looking merely at whether you can "afford" a payment today leaves out many other considerations.

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[fast306stang]

You can't lose with 0%. Just enjoy the car, take care of it, and keep it a good long time.

Thanks man! That's the plan except for those pesky C6/C7 Corvette thoughts that pop up in my head from time to time lol.

With the zero percent, I didn't see a reason to put anything down on it. I can basically do that at any time.

The flip side is to trade the car and keep the payment the same, I've got to look at a way cheaper vehicle since any loans now have interest tacked on. So I guess I'm stuck with the Stang in that regard...but that's not a bad thing.

 

[Dinokill3.7]

$439 including extended warranty
I pay between $600-800 a month to pay it off faster

 

[baazooka]

I understand the thought behind your question and it applies to many, many more things As well.
I’m blown away with the spending I see going on, I just don’t get it. People are shopping payments.
I’m seeing spending habits from the 20-40yo crowd that will flat out get ‘em in trouble tomorrow.
The inflation rate came out again this morning @8.2%. I’ll guarantee it’s higher than that when we continue to see gas and groceries alone still climbing.
I here people complaining yet won’t give up their $15 a day Starbucks habit. The younger crowds don’t know how to shop to save and certainly don’t know how to cook. Their habits have not changed during this recession.
I know this doesn’t apply to all young folk but it’s pretty prevalent.

Cars cost a lot now, unless you want to buy a used car for more than it was worth just a couple years ago, the solid option is to finance a reliable means of getting around.

 

[Mspider]

Agreed. I'm just saying even if I made 300K a year, I wouldn't blow $1100+/month on a Mustang. Period.

I think what you are trying to say is that a mustang isn't worth that much?

No doubt I would be driving a 911 Turbo if I was making 300k a year. And that a lot more than 1100 month lol. But then again I don`t have kids

 

[smokescreens]

Mine was $400/month for 48 months with a healthy chunk down. Bought it used at $38k. But i hate paying intrest and making a car payment so i paid $2,000 a month till it was paid off.

I need a new truck next year and im sick to think of paying $60k for a pickup truck but such are the times.

 

[wynand32]

Agreed. I'm just saying even if I made 300K a year, I wouldn't blow $1100+/month on a Mustang. Period.

Except that's completely psychological. Unless we say it's simply not smart to buy a Mustang, period, then the monthly payment amount isn't the important consideration. For example, you'll end up spending less money with a 48-month loan than with a 72-month loan if you're paying less interest for the shorter term, even if the monthly payment is higher.

That's one of the tricks dealers play. It's easy to hit someone's monthly payment target simply by offering a longer loan term at higher interest. But they'll end up spending more for the car.

 

[Tucker80]

~40.8k out the door, 0% financing for 60 months and put $0 down. Payment just over $680. Ford typically has finance specials in the winter and if someone is going to give me 0% financing I'm going to stretch that out as long as possible

 

[wynand32]

~40.8k out the door, 0% financing for 60 months and put $0 down. Payment just over $680. Ford typically has finance specials in the winter and if someone is going to give me 0% financing I'm going to stretch that out as long as possible

My wife's going to kick my a$$ if Ford offers 0% financing this winter. She told me to wait a little while to see what happens and I was impatient. The thing is, I can't imagine them offering that deal when interest rates generally are so high.

 

[cocopanda]

Like $320 a month. I pay $450 a month though just to pay it off sooner. 18 GT premium with 401a and 10 speed. Paid 32k for it with 10k miles back in 2019. Hindsight is always 20/20 and I am glad I bought when I did.

well above water on that purchase.

 

[AvalancheSVT]

I think what you are trying to say is that a mustang isn't worth that much?

No doubt I would be driving a 911 Turbo if I was making 300k a year. And that a lot more than 1100 month lol. But then again I don`t have kids

bro 911's got back seats. they're in the running! a used 575 maranello would be on my dream list, though.

 

[MAGS1]

My wife's going to kick my a$$ if Ford offers 0% financing this winter. She told me to wait a little while to see what happens and I was impatient. The thing is, I can't imagine them offering that deal when interest rates generally are so high.

Agreed, hard to see 0% rates when Ford Credit’s borrowing rates are higher than 0%.

 

[Dave2013M3]

I was more than a little shocked to see this piece in FA and it got me wondering about comparable Mustang payments. It’s hard to see how the average family can afford this.

If your Mustang is financed would you mind sharing your monthly car payment?

Heck, it seems to me that $1000/month is getting into the house payment range. But maybe I just need to get up with the times…

This is so hard to make a determination depending on when you bought and at what option level. I bought right when Covid 19 hit and they were giving away Mustangs. My spec is a 2020 Mustang GT 300a car with PP level 1 and Rapid Red paint. My MSRP was right at $41K bought it for $38K, 72 mos. financing with 0% interest with just $1k out of pocket. My payment is $571 per month.

 

[Mspider]

My wife's going to kick my a$$ if Ford offers 0% financing this winter. She told me to wait a little while to see what happens and I was impatient. The thing is, I can't imagine them offering that deal when interest rates generally are so high.

No way they will be offering 0% this winter. If anything they will remain higher.

 

[young at heart]

…in my very humble opinion the law of diminished returns kicks in pretty hard after the a nicely equipped GT.
they're super cool but when approaching six figures i'm looking at something from Stuttgart.

You my friend are a man of wise words. This right here totally nails it for me in many ways.

When I bought my ‘22 GT a couple months ago, even though it was equipped just like I wanted I knew the 10 hp thing would eat on me a little bit mentally. But the overall timing was never going to be better and the stars were all lined up. So I figured worst case scenario it would serve as a place holder for a future trade up. But the longer I have it (now ~700 miles) the more I like it and the more I wonder if the 10 hp thing is even real. Truth be told this thing is fast AF right now but still easy to manage on the street. And if it breaks Ford owns it.

Anyway with only $44K tied up in a brand new ‘22 full warranty and very satisfying car I’m really starting to wonder how much more I could enjoy a Dark Horse at probably $70K or a GT500 at God knows what. That’s a lot of $ to trade up to something with capability I‘m not even sure I’d personally be able to use on the street.

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