Financing a Mustang, has anyone done this?

[matteos]

I have a co signer, just seriously debating going through with this or not

Why don't you just get the ecoboost or the V6?

No 19 year old really needs 435hp. Where do you go after that?

My first car at your age was a 1980 Mercedes 240D. A broken down POS that had 67hp when it was new several decades before I owned it. Having a slow POS car makes you a better driver, more conscious of the road and the vehicles around you because you need 5 minutes to change lanes.

Car payment and gas will take up half your budget if you don't wrap it around a tree first.

And here's another reason to own a beat down broke ass POS car when you are young. - Learning how to fix everything. You will do the brakes, you will change the oil and the sparkplugs, you will replace the cooling system etc etc. Because you will have to. All young men should own a rubbish car first so they gain knowledge about their cars. How they work, how to fix them if they break down. Your new GT won't ever breakdown and let you down, so you will never learn anything except maybe changing the oil.

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[Surtur]

yeah the v6 or ecoboost is also a good option

lower initial cost

lower insurance cost

still fast as hell, still sexy as hell, ecoboost has a huge modding friendly aftermarket, im sure the v6 does as well. ecoboost already has 500+hp available for purchase if you want to make it faster later on.

 

[Highwayman]

Maybe I'm old school..... And don't take it the wrong way. But at 19 do you really think it's cool to plan on being on your parents purse strings for the next 5 yrs?

At 19 and my son. A talk about you getting a 5 yr loan on a car you can afford because I foot the bill for everything, would be too long.

 

[Hashbrownn]

Hey hashbrown... long time mate.. how u been

Hey berserker, I've been Great. Thank you for asking.
Busy with work and traveling. Also been trying to work on my golf game, but that is never easy. I hope you and your 'stang is doing well!!

 

[futbol90x]

Hahah, I have other brothers and sisters that don't live at home anymore so I think/hope they still enjoy my company before were all gone.

Do it now that you have no mortgage or kids. Also im pretty sure u won't be making what u are making right now lol u will be going up.

 

[Falcon01]

Although I have previously said go for it, I do agree with other's saying that you should get a cheaper car like an ecoboost. That will save you 7-8k from the purchase price and will make the payment much easier. It will also be better on gas, etc.

 

[Tempyy]

Do it now that you have no mortgage or kids. Also im pretty sure u won't be making what u are making right now lol u will be going up.

Yeah that's a good point too. We get raises every few months so after a few years i'll hopefully be making more than I am now.

 

[Tempyy]

Although I have previously said go for it, I do agree with other's saying that you should get a cheaper car like an ecoboost. That will save you 7-8k from the purchase price and will make the payment much easier. It will also be better on gas, etc.

I'll definitely check out the ecoboost. V6 doesn't really do it for me, but the only thing against the ecoboost with me is if I got the premium, I'd be right up around the pricing for a GT.

 

[berserker_sid]

Hey berserker, I've been Great. Thank you for asking.
Busy with work and traveling. Also been trying to work on my golf game, but that is never easy. I hope you and your 'stang is doing well!!

Yes sir... i have been great.. after 1 year i have recovered from neuron damage COTUS did last year...As you can see my words make sense now hahhaha

i mean time moves on fast... last year this time i had placed preorder for my car...

Its always awesome to see fellow first owners around...

I have been stuck in work too... but yea been riding MY INFRNO.. 1 year of all fun

 

[berserker_sid]

I'll definitely check out the ecoboost. V6 doesn't really do it for me, but the only thing against the ecoboost with me is if I got the premium, I'd be right up around the pricing for a GT.

But again... u will have to think.. premium features do add to value and fun factor in the car and also comfort...

Base ecoboost is something which u should go for .. and as you progress in career keep on modding it..

 

[Kpod]

My GT payment is half of my weekly take home pay, not half my monthly non-taxed pay and I'm on here trying to decide if I can afford a jlt, ngauge, and lund tune combo. Forking out a grand is a tough decision. It used to not be but I've figured out where making rash decisions put you... in debt that is hard to get out of. I financed this car (with a really low rate) but I'm going to try and make it my last financed car. I know it's tough though. I've already started drooling over the GT350's. The bank will gladly give me a loan on one but I know it's a stupid decision in my current situation.

My suggestion would be listen to everything the old guys are saying. Guys in situations close to yours are saying do it. Guys in the next phase of life are saying don't. If you don't plan on going to the next phase of your life, get it. Financially, it's a very bad decision.

For the fun factor it, may be a bad decision too. My car was fun but the trips, parties, sports events, and things I spent money on with friends were more fun to me and they eat up a budget.

 

[danny0441]

i can tell hes single lol yea you dont wanna be the guy with a nice ride but cant afford to eat out or party hard or even take a girl out on a nice date gf cost money they drain up more than what they do in highschool where you can get by with a movie date here and there

 

[MichaelKael]

i can tell hes single lol yea you dont wanna be the guy with a nice ride but cant afford to eat out or party hard or even take a girl out on a nice date gf cost money they drain up more than what they do in highschool where you can get by with a movie date here and there

Well they DO expect more, especially when they see a guy driving around in a Mustang ! lol

 

[Eric R]

When i was 19 I drove cash only vehicles... In fact, I was saving for a house (bought my first at 22) and now have rental incomes along with a good career. There will be plenty of time in the future to buy cool cars, get your BA and Graduate degrees paid for first and the world is yours for the taking.

I put a lot of weight in graduate degrees.. the last six people I hired had a graduate degree (mostly MBA's)...

Good luck,

Eric

 

[Khyber]

i can tell hes single lol yea you dont wanna be the guy with a nice ride but cant afford to eat out or party hard or even take a girl out on a nice date gf cost money they drain up more than what they do in highschool where you can get by with a movie date here and there

don't date horrible women, problem solved and partying hard is more of a waste of money than buying a car lol.

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