New purchase...

[shogun32]

was my best choice compared to these:

Is your range those cars you can reach via public bus? For the down payment and monthly you could get a '22 new or almost.

Paying 1000 to get out of the deal is no-brainer. You're going to piss away 4x that in interest alone.

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[young at heart]

Is your range those cars you can reach via public bus? For the down payment and monthly you could get a '22 new or almost.

Paying 1000 to get out of the deal is no-brainer. You're going to piss away 4x that in interest alone.

Yep, this right here.

OP, believe it when we tell you: it’ll be the cheapest grand you’ll ever spend!

 

[Balr14]

Regardless of how this turns out, I can assure you that when I was your age, I did something dumber when it came to buying cars. It happens to a lot of us!

 

[DadzMach]

New to the forums! Hi everyone!, I just bought my first car(19yo, dream car) unfortunately Carfax failed and I need some advice.

About a month ago I bought the mustang I was looking for, a low milage(55k) 2017 2.3l Ecoboost dark gray aka Ford Magnetic Gray and found it a town over for 22k.

Well I loved it but there was a problem, first time buyer and not enough credit history(1.3 years, 690ish credit score) so I knew It wasn't going to be easy but was ready. At the end I qualified after a $5,500 down, $560 a month with an 11% APR() yeah I know I know it's HIGH(was told to refinance after a year), but I have a good job and I can easily afford the payments, the other option was a "buy here pay here" dealership BUT I want to build credit. Well after a day of thinking about it I went ahead and brought her home.

The Mustang is a BASE eco boost model with the following mods/upgrades:

**Lowered on lowering springs
**Fittipaldi FSF03 rims(staggered)
**Gorilla locking nuts 2 different lock nuts per tire
**Mishimoto catch can
**Aftermarket LED fog lights
**Aftermarket Steering Wheel
**Aftermarket Shift knob
**Upgraded stereo off a premium. model, following doesn't work for obvious reasons 1. Navigation, 2. Climate control for seats, 3. "Mode" switch.
**Carbon Fiber(Fake) trim pieces for the interior
**Dual 12 inch subwoofers in trunk
**Anderson Type-ST Spoiler
**Roush Axle-Back Exhaust

So what's the issue?.. this...

Hood was removed

Small paint chip on the driver fender support.. bent at one point?

Paint chips and marks next to the air intake

Noticeable dent behind the drivers headlight but NO other visible dents, frame is also prestine from what I can tell.. I'll remove the fender liner to inspect better.

After market fenders? They also feel like if they were made out of plastic?

Missing engine cover and missing battery cover, seems battery cover was never re-installed since the speaker wire gets in the way.

Lastly Dinamat installed throughout the trunk.....



Thoughts??? Also the dealer Included a 60k mile/6 year warranty which is costing me $3,600 on top of that, so if in the future the car needs any major mechanical repairs it's only $100... I still have the option of removing it.. should I?

They are screwing you on the warranty! I just bought a 10 year/36k mile warranty for my 23’ Mach1 and it has $0 deductible, a loaner car
On day one and key/remote replacement for loss or damage. Check out Lombard Ford, they by far have the best prices.
Yours might be a bit more expensive because your car is out of warranty already, but I don’t think it should be that much of a difference.

 

[DadzMach]

As a person who believes in murphys law (Anything that can go wrong will go wrong), I always get an extended warranty. I have spent enough time wrenching a beater just to get to work everyday so I want a mechanic working on it not me, preferably for a discount/free at the time of the incident. Too many days topping off power steering fluid and oil, gotta check all those fluids so i know i can get to work! Anyway, so I get the warranty and make sure it will cover me for the note, so i can save up once its paid off. However, i also never intend to let a car go until the wheels fall off it, not many people operate this way. So if you dont plan on keeping it forever or at least a good while, this may not apply to you.

If you dont plan on returning it and believe that it has been wrecked/screwed up, taking off the warranty is the last thing id want to do. However 3600 is steep so i can understand wanting out of it. You can get a third party one post buy, though that's not something I've done personally, so not sure thats the right move or not.

I saw a bunch of opinions not like mine, so i thought I'd share an alternate view. Definitely do what's right for you and your situation.

Doesn’t CARFAX have a guarantee if you pull the report? I could have so they have something??

 

[CrazyHippie]

Congrats on the car. I love grays and Magnetic is really sharp.

Hmmmm. Lots of great advice on here. Seems like two general threads:

1. Bail out, pay the fees and try again.
2. Keep it , but ditch the warranty (I agree that you can probably score a 3rd party one for a better price), and re-finance as soon as possible. If you decide to do this, I'd recommend doing the refi as soon as you can - like tomorrow. You may be able to get a better loan right away or at least find out exactly when it will be possible.

Most importantly, though, take good care of the car. Dont beat it (be gentle even when driving briskly). Maintenance and repairs are super expensive on these! Even tho its cool, you can burn a set of $600-$1000-ish tires off of her in a matter of minutes! Wait til the tread is gone and you're ready to replace them to light them up if you need to. Most importantly guard your life and your driving record. Insurance costs are insane and it takes years to recover if you become uninsurable. Cameras front and rear are a good idea. Stay smart with it!

You did a good job finding it. Not the best or worst deal out thete but it's your thing and you deserve to be proud of it, no matter what you decide to do with it.

Welcome to the club!

 

[DadzMach]

Congrats on the car. I love grays and Magnetic is really sharp.

Hmmmm. Lots of great advice on here. Seems like two general threads:

1. Bail out, pay the fees and try again.
2. Keep it , but ditch the warranty (I agree that you can probably score a 3rd party one for a better price), and re-finance as soon as possible. If you decide to do this, I'd recommend doing the refi as soon as you can - like tomorrow. You may be able to get a better loan right away or at least find out exactly when it will be possible.

Most importantly, though, take good care of the car. Dont beat it (be gentle even when driving briskly). Maintenance and repairs are super expensive on these! Even tho its cool, you can burn a set of $600-$1000-ish tires off of her in a matter of minutes! Wait til the tread is gone and you're ready to replace them to light them up if you need to. Most importantly guard your life and your driving record. Insurance costs are insane and it takes years to recover if you become uninsurable. Cameras front and rear are a good idea. Stay smart with it!

You did a good job finding it. Not the best or worst deal out thete but it's your thing and you deserve to be proud of it, no matter what you decide to do with it.

Welcome to the club!

Excellent advice!

 

[black22gt]

Doesn’t CARFAX have a guarantee if you pull the report? I could have so they have something??

It appears they do.

https://support.carfax.com/article/what-is-the-carfax-buyback-guarantee

 

[luca1290]

I guess the car was in a front end accident at a time. Probably the past owner rear ended someone.
The new chinese front bumper and third party mud guards, along with bent parts point at this.

I've seen a lot of young folks in my neck of the woods do what you did. My advice is sell the car to the next in line, keep the money and in a few years buy a new one.
I know it may be tough when you are young because sentiments are stronger in the 20s.

You are really burning your money in the furnace in interest rates just to have some cheaply repaired Mustang when if you wait a little bit you can have a new one.

Modified cars tend to develop a lot of faults during their life, unless you know what you are doing and are prepared to spend accordingly just keep it stock.

 

[KingKona]

Almost no loans are being done for anything less than 6%, and that's on new cars, and with titanium level credit. So, all things considered, 11% isn't that bad.

OP, just try to get a Ford ESP through Granger. And if you can do that, cancel the $3,600.00 warranty you bought. You MUST have an extended warranty on the car. And get the best one Ford offers. Make an extra payment here & there to (hopefully) lower the amount of interest paid.

Just enjoy it, and take excellent care of it. Drive it, take care of it, and enjoy it while you're building you're credit.

 

[Shop Grunt]

https://www.marketwatch.com/guides/car-loans/best-auto-refinance-rates/

 

[ơɱɛɠąッ]

Almost no loans are being done for anything less than 6%, and that's on new cars, and with titanium level credit. So, all things considered, 11% isn't that bad.

OP, just try to get a Ford ESP through Granger. And if you can do that, cancel the $3,600.00 warranty you bought. You MUST have an extended warranty on the car. And get the best one Ford offers. Make an extra payment here & there to (hopefully) lower the amount of interest paid.

Just enjoy it, and take excellent care of it. Drive it, take care of it, and enjoy it while you're building you're credit.

Been a wile since I've posted, the service contract aka extended warranty has been terminated. Unfortunately NOW the car started having an issue... great!

Once in a wile the car gets a code P0171, I've checked for vacuum leaks, removed the Mishimoto oil catch can and installed the PCV house, but haven't found anything, thought It was bad fuel, but nothing changes even after cleaning the map sensor.

Aside from the code, the car also "stutters" wile on idle the rpm drops to the point where it seems the engine might turn off, well last night it did that after I parked and my bro noticed smoke from the passenger headlight, with the car on we poped the hood and didn't see anything at first then it started stuttering again and and stopped after noticable puff smoke came out of the turbo, that same smoke(exhaust) is coming into the cabin, irritating our eyes, making our clothes smell and giving us a headache(or dizziness) got to love exhaust fumes...

Well this is the damage

Turbo soot

Since then I've stopped driving the car..

I also found that, I removed it and installed a proper hose.. just trying to eliminate any possible causes..

 

[Johnny Rockit]

Is there any warranty at all? Sorry you have to learn the hard way on such an expensive ride. Your safety is paramount. Do it right or not at all when it comes to your life and/or that of others.

 

[ORRadtech]

Looks to me like an exhaust leak. That alone, if it's before the O2 sensors, can cause the engine to believe it's lean. The first thing I'd try is to tighten up the bolts and see if that changes anything.

I take it that you didn't look into the warranty offered by Granger Ford, as a few of us suggested?

 

[Cobra Jet]

There was decent advice given in this thread.

The only "problem" with lumping in any ESP Warranty on a financed car is this:

Doesn't matter if you canceled it and did get a refund - that amount that was initially lumped into the loan, you're STILL paying the upcharge in your monthly payment, in most circumstances the bank won't reduce the payment because of someone wanting the ESP refunded... So even though you did get "refunded" you're still "overpaying" in your monthly...

Never lump in the "pushed" ESP plans into a loan for the very reason noted above... because when you back out of it, the loan still had it worked in.

Another thing to be aware of with any ESP, many of them run concurrently with the existing Manufacturer Warranties AND start as of the date the car was sold to the public - but the Selling Dealer or Salesperson won't tell you that directly - they'll play it off like you're getting some super duper warranty plan that will cover you for many miles and years (whichever comes first). Problem is, people don't ever read ALL the fine print to find that out - and even if it's a super duper ESP, in that same fine print many of the components covered are still covered by the concurrent Manufacturer Warranty and sometimes it still doesn't cover parts that are expensive failures down the road...

---

Buying a used vehicle requires research, a real going over of the car before sealing any deal or paying - because many used sellers (dealer and private) aren't transparent and just want that ball of cash or sale... Emotions get in the way and *boom*, people end up in situations such as this where they find out later that the prior owner did XYZ to the car or it had ABC incidents that eventually creep up and cause financial strain or prevent the vehicle from being used (or enjoyed).

Where in the heck was that rubber cane cap and the black burlap?

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