I am depressed

[Toofarfromjune]

Hate to rub salt in the wound but what are you driving now?

Hang in there, I had to sell my last GT about 6 years ago when I was going through some changes. Now I'm in a far superior GT, I'm sure your fate will be similar. Watch yourself end up in fords latest rendition of a Mach 1 or something in a couple years.

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[Martman GT]

I may be in the same boat soon. We decided to not buy a house and just stay in the house we're renting because the house really fits our lifestyle. So, got rid of the 2014 Ford Edge Limited for a 2015 GT Premium. The $654 a month payment was no big deal with our current rent. Fast forward to last week and my landlord hikes up the rent and wants us to sign a new lease. Well, we can buy a house for a couple hundred more than the rent, so we signed a contract for a newly constructed home yesterday. 30 day close so I got to kick it into high gear to get ready to move. We can afford the house and car, but I don't know if I'll be comfortable paying both, so I may give up the GT to free up some extra cash. Going to ride it out a couple months to see how it feels, don't want to make a rash decision that I'll regret later.

I'm sure you'll be back in an S550 sooner than you think.

 

[AR306]

It's a hard life being a car guy.. always dumping money into depreciating assets..

We feel your pain OP.. best of luck in your endeavors.

 

[IPOGT]

That's why wealthy people lease luxury cars. They get a nice car, usually powerful, have low payments since the residual is high to the value and never add or modify anything and get a new one in 3 years. Repeat. For $600/mo. You could drive an E class Mercedes.

 

[RushGotti]

I may be in the same boat soon. We decided to not buy a house and just stay in the house we're renting because the house really fits our lifestyle. So, got rid of the 2014 Ford Edge Limited for a 2015 GT Premium. The $654 a month payment was no big deal with our current rent. Fast forward to last week and my landlord hikes up the rent and wants us to sign a new lease. Well, we can buy a house for a couple hundred more than the rent, so we signed a contract for a newly constructed home yesterday. 30 day close so I got to kick it into high gear to get ready to move. We can afford the house and car, but I don't know if I'll be comfortable paying both, so I may give up the GT to free up some extra cash. Going to ride it out a couple months to see how it feels, don't want to make a rash decision that I'll regret later.

I'm sure you'll be back in an S550 sooner than you think.

Another possibility is, Depending on how long you've had your car, You can refinance the loan for the same amount of months you originally had, Could drop it a substantial amount. If I do that to mine, It drops $100/m less.

You can do that and send bigger payments the months you have extra money.

 

[Martman GT]

Bought it on 8/12/15 with 100% finance so it wouldn't really change the payment that much, and I don't want to extend the loan any longer. I was actually planning on doing a re-fi on the car loan for 1 yr shorter term and putting $10K down which would have lowered payment below $500 a month, but we're using that money (and then some) for down payment on the new house. Will be a nice tax break though.

 

[Schu]

Good gas mileage??? I can only muster mid 13 mpg...

 

[Pa-fatboy]

Sorry to hear brother. Damn shame. I hope you get back into one soon.

 

[aspensilver]

Sorry to hear that man!

If it does you any good, at least IMO you got to experience the best time to own an S550 -- a 2015 right when they came out, these were hot hot cars! Now in 2016 the S550 is just another nice looking car -- not a knock, no car stays that hot forever. I know some people wanted to wait for a cheaper used car than buy a new 2015 at the time, you'll always have the original year ownership memories, perhaps worth it over saving a few bucks in the long run -- you'll look back at it as one of your awesome life experiences.

Save some cash and come back to Mustang!

 

[Ecoboosted]

I've been there. I had to trade my 5th gen Camaro for a econobox. Traded that last year for my EB stang then traded that for the GT.

 

[e30og]

To the OP you will have your day! You're not alone and kudos to you for making the mature decision.

I think it's a lesson for life honestly, everything is temporary, unfortunately some things more than others. Be happy for all the good times you had with it, those memories are the most important thing in life. They will outlive the life of the car even if you still had it. Those will matter when you're on your deathbed, not if you still have the keys on the nightstand

And I guarantee you'll be back in a mustang at some point!

 

[2morrow]

:shrug:Hopefully you didn't buy that Mini Cooper S that I traded in. If so, you would even be more depressed...Cheers:cheers:

Not to thread-jack but I was thinking of getting on of those for a DD down the road. I take it you did not care for it heh?

 

[jrock]

It was fun to drive. Just the only problem was I bought it used and after 100 miles the car overheated. The engine was full of radiator stop leak and needed a new head and other parts. That was about 4 grand to replace with parts & labor. After the repair, I only put 600 miles in the last two years till I paid it down some before trading for the EB...I mainly rode my DR650 for transportation....

 

[IPOGT]

I have a 1980 Firebird 95% restored automatic 406 cu. in. Pontiac with Turbo 400 trans, headers, Holley 650 and Jim Butler #16 heads about 450-500 HP. I don't drive it anymore but I don't think it's worth a ton of money either. You can get a car like that and buy it inexpensively (comparatively) and have just as much fun as the Mustang and pay low classic $200/yr. insurance. Keep a car like that nice and you'll always get your money back too!
They're out there!

 

[SkapeGote]

I know the feeling. I have never owned a Mustang, except a Fox Body for just a few days. My step daughter is incredibly mentally unwell. I live in Canada so medical help thanks god is free, i would be homeless otherwise. All the money I have saved for my Mustang has slowly been drained on the kid. Therapists and such that cost 150 bucks an hour several times a week destroyed my savings for the car. I work in mental health, so I do not make a lot of money to begin with. I cruise Kijiji daily looking for that sweet deal on a Fox or a new edge. It is sad when you go from looking at 35k cars to hopefully finding a $1000 dollar beater someone wants gone. Realistically, I know I will never own one now, but I sure do like to look. I hope your situation turns around bro. I sincerely do.

Skape

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