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Buying tomorrow, looking for tips.

Cory S

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13razorbackfan

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Isn't it crazy doing 72 months on a used car.
Yep banks are taking risks for major profits with the FED rate so low. Just 1 point in interest can be thousands over the course of 72 months obviously depending on the amount financed. It's insane. I remember when any used vehicle you normally would be at 48.
 

Bikeman315

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Hey guys I'm moving out of my 07 VW GTI into a 2015 GT tomorrow (hopefully) and would like some help with a few details.

here is a link to the one I'll be looking at: https://www.mooreauto.com/used/Ford/...b0c93fa7a1.htm

This is the cheapest Mustang around me, by a lot, and I've been trying to get into a GT for a long time. I've found this has the 50th appearance package, but not much else. It seems to have a "shaker" badge as well as the sync system but I can't get the Window Sticker from Ford's website (seems to be giving me "try again later" over and over) to get what options it had added over the base GT. If anyone could give me some pointers/tips to look at to see what options this car has? Both the local Ford dealers are closed tomorrow (my only day off) as well so I can't decide if I should get an inspection at a 3rd party auto body shop or trust the dealer (Subaru/Jeep Dealer).

Anyway, thanks for any help and I look forward to joining the community!
Looking at the pictures i have some questions.

Car is listed as Deep Impact Blue which it obviously is not. A simple but stupid mistake. Raises a red flag for me.
The windshield is either really dirty of severely chipped. Expensive to replace is you want to.
There is a cover on the steering wheel. Why? Damaged? I would ask.
Car has 50th Anniversary package and aftermarket wheels. Check to what they are.
Looks like its been driven on dirt roads for five years. that's severe road rash. Dr. Colorchip can help.

Other than these items car looks pretty good. I'm concerned about the mileage (79K) especially on a M6 car. I wish you the best of luck if you decide to buy it.
 

Norklin

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If you finance ANY car for 72 months, especially a used one, you cant afford it.

Car has a ton of paint damage and high miles.
 

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17Ruby

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80 thousand miles on a car is too much when your going to finance it for a period of time. You have no idea as to how it was treated.
 

Stang 19

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CarFax is clean, but that doesn't mean much, my current GTI has a clean CarFax but was previously in an accident. It does look like something happened with the front end having such a big bumper gap. As I stated in an earlier reply I've a very specific set of "rules" that I won't compromise on and if everything is not perfect I'll just walk away.
Make sdamn sure the history report does NOT show it was a for former rental car!
 

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Make sdamn sure the history report does NOT show it was a for former rental car!
I respectfully disagree. My car was a prior Avis rental beast and she has been rock solid. As long as there is a factory warranty, any issues that come up can be fixed free of charge.
 

The_Phantom

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If you finance ANY car for 72 months, especially a used one, you cant afford it.
I disagree. It's nice to have lower payments and just pay the car off early rather than put yourself in a tight spot for 36-48 months.

People's situations vary, but I've almost always gone 72 months and at 100+ cars I've never been underwater on one and never taken the whole term to pay it off.

If there's an offer for 72@0%, it is all the much better. I like to let my money make me money and stay invested. Cash isn't king anymore.
 

Norklin

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I disagree. It's nice to have lower payments and just pay the car off early rather than put yourself in a tight spot for 36-48 months.

People's situations vary, but I've almost always gone 72 months and at 100+ cars I've never been underwater on one and never taken the whole term to pay it off.

If there's an offer for 72@0%, it is all the much better. I like to let my money make me money and stay invested. Cash isn't king anymore.
The difference between 48 and 72 months has nothing to do with cash being king. Again to your point if you need to stretch something 2 more years to have not be "tight" you probably should lower your price range. With all that said this being a used car with 80k miles, multiply the stupidity x100.
 

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IronG

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I disagree. It's nice to have lower payments and just pay the car off early rather than put yourself in a tight spot for 36-48 months.

People's situations vary, but I've almost always gone 72 months and at 100+ cars I've never been underwater on one and never taken the whole term to pay it off.

If there's an offer for 72@0%, it is all the much better. I like to let my money make me money and stay invested. Cash isn't king anymore.
You gave some potentially very bad advice. For you it may have worked out because of your financial situation. You have no idea if the OP is in the same or similar situation as you. Based only on what he is buying and the term he is looking for, it points to not very good. Just a guess, but I would rather guess this way than role the dice like you are suggesting. The simple rule of thumb is that if you don't have the cash on hand to buy the item you want, you really can't afford it. Period. A house is somewhat of an exception, but if you take out a mortgage for more than 20 years to lower the payment, you can't really afford the house. The speculation most people have is that their position will improve over time. In some cases that is absolutely true, but too often it is not the case. The current debt by households is about 13 trillion dollars. That means way too many people are buying things they can't afford. So cash may not be king to use all the time, but you still need to have it. Not sure I have seen a loan for 72 months on a 5 year old car with 80k getting close to 0%.

OP, you would do better by getting some other car, like a Honda Accord or Camry for less money and more reliable. When you financial situation improves and you can afford a better newer GT, then get it. May take a few more years, but you will thank yourself everyday for not doing it now, at least the way you seem to be set to do. Probably not what you want to hear, but the best advice I can give you. In any event, good luck.
 

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Make sure the A/C works perfectly!
 

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Talking about bad advice. The guy wants a mustang and you’re telling him to go buy a Honda or Camry I mean WTF.... If it makes the guy happy who cares.
 
 




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