Looking for thoughts/opinions/advice on GT350 purchase

[Johnnydarkgt350]

I took care of that car. I cant speak for the second owner, lol

Excellent Tomster “

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[derklink]

Hard to tell, OP, without having the full picture of your finances and without knowing what type of person you are. I have a friend in his late 30s who makes six figures, drives a '95 Honda Accord, rents a one bedroom, and squirrels away all of his money to retire as soon as possible. Then I have a friend, same age, who makes less than six figures, leases a Porsche and lives in a very nice 3 bedroom rental apartment by himself. All subjective but I feel like it's really hard to plan for the future (career-wise) these days. Buying it now and putting it away for 4 years doesn't make much sense in my opinion. Some other thoughts: 1. you could always sell it (I think GT350s will retain their value quite well but that is mere speculation)…worst case, you had fun and you paid for the experience...2. ask yourself if you could fully enjoy the car without constantly thinking about the cost...3. crunch numbers. I'm very cautious with finances, hate debt, but that's just me. I drive a Nissan Frontier, lol. Actually, I am cross-shopping GT350 vs BULLITT. Good luck with your decision!

 

[foolwithtools]

OP, it appears as if we're in the same age group! I only got mine because I had no loans to pay off. If I were you I'd try to aggressively pay off my loans first and get them to a point where they don't make a huge impact on my budget anymore. Because of the price point, the majority of GT350 owners are older and don't flog them around the track. I wouldn't worry about getting a low mileage used GT350 after you pay off your loans. Plus, by that point you will have people that have owned the earlier cars for 10+ years that can tell you what to look out for as the car racks up miles!

And if you just want the experience of buying a new car, just get whatever GT350, Mach 1, Cobra, or Boss Mustang is out in 2025! A lot of people have been saying that the GT350 will probably be the last naturally aspirated high revving Mustang because of tightening emissions regulations but that's also what they said about the Boss 302 in the 2012 model year. People said there wouldn't be another super powerful GT500 in 2014 with horrifically bad fuel economy and look at where we are now! If you want a large displacement flat plane V8, I think there's a good chance it might make a comeback on a later Mustang since the GT350 seems to have started a trend with the C8 Corvette Z06 having a 5.5L flat plane V8 and the Mercedes AMG GT Black Series also having a flat plane V8. On top of that, you can bet whatever you get in 2025 is going to spank a GT350 in pretty much every way since Ford will have plenty of time to correct any shortcomings in the current S550 platform.

 

[mysta_sandman]

Cars come and go. Outside of the 350, I've had tons I've wanted since I was a little kid and while some are unattainable (66' Gt40 I'm looking at you) some are within reach.

Take care of your priorities and don't stretch yourself too thin financially. When I was younger, I dug myself into so much debt chasing after cars, guitars etc and it took me years to get out of it (including repairing my credit).

The point I'm making is that the car will be here and never say never. Who knows what will happen in 4 years time.

But default on your loans because you're missing payments and the hole you dig will be harder to get out of than getting in a 350.

 

[Johnnydarkgt350]

As another thought instead of spending 65 or more on a new one ? how about finding one with 3000 miles on it for say maybe 45 to 47 ( s 2016 track pack or a 2017 ) making it “more affordable “ and less likely to depreciate?If that fits within your budget; I think a lot of new car buyers found out that when they drove their New car home , it became used that day as well!

 

[V8 Voodoo]

Thank you everyone for your thoughts. It was exactly what I was looking for. I will be the responsible person and keep paying on the student loans. I am paying on them quite aggressively (I could have a CFTP GT500 for what I am paying on them each month). I agree, I will sleep better knowing that I achieved that goal of paying them off. I signed up for them, so I need to pay them back. It will only make driving a GT350 that much more enjoyable. For anyone here that has a 2019-2020 Kona with electronics and handling package, take good care of her, I will be a very interested buyer in mid 2024.

 

[key01]

Start building a separate GT350 account with funds you would have thrown at this purchase. Invest wisely and if you get a few big equity winners (Tesla, Apple, Zoom, etc) you may be in a better position to purchase sooner than later. At least with that approach you won’t have another ball and chain to deal with.

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