Sell vs keep 2020 gt

[moab361]

Looking for some input. I've got a 2020 GT Premium with pp1, active exhaust, twister orange, manual. For me this is a second car, mainly driven in the summer. Averaged only 4k mi/yr so far. I recently got an offer for nearly what I paid from a local Ford dealer and am stuck, not sure what to do. I know used prices are good now. May stay the same, may fall.

My daily is a edge sport, 2016 but like new and still under extended warranty. It's got low miles. Mayyyybe will trade it in after another year or two and get something like a Rivian suv which I also admit will be pricey, but am in no rush on that.

The mustang is a blast, really my only complaint is the 2k rattle. The color is great, the manual is fun, the sound is awesome. I do worry this kind of car won't exist some day. I do have a family, so typically I really just take it to work or to run errands. Kids car seats are better off in the SUVs.

But I can't help but feel a little guilty when I drive it knowing it's a second car and worth $45k, almost what I paid. Fortunately, I really don't have an immediate need for the money but I guess could always put it in the stock market.

Anyone had something similar? I love the car but sometimes just feel like I have trouble enjoying it. At the same time I wonder if I'll regret giving it up and know it'd be really hard to replace. Maybe I just need a track day (I've never done that before)?

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[K4fxd]

Track day for the win.

Tough call. I got offered 10K over what I paid for my 17 but passed since nothing I could buy at the time was an upgrade. When people ask me how I like the car I immediately say love it.

I would trade it for a regular cab short box coyote powered F150.

 

[MAGS1]

Tough call, that’s a good offer. I do think we’re getting close to the end of the V8’s as we know them, which is one reason I ordered a new GT. I plan on keeping it until it (or I) croak lol. There’s a lot of crap in the world today, find and do things that make you happy, whether that’s accomplished via the cash or the car.

 

[Thebus44]

Keep it! I was in the same position as you about 4 months ago, but I dd my mustang when I had it . I got over what I paid for it but I regret it . Now I’m looking at getting back into one again

 

[_zOmbIE_]

I love my mustang, but if someone offered me more than I paid for it, I would personally let it go.

 

[Bulutt]

Take it from someone who loved all his cars and still does. Sell it and buy an investment property or something else that makes money for you without you working. May seem boring but will pay big dividends in the future. That’s what I should have done. The cars are just toys.

 

[Lgb0250]

The used vehicle market is already starting to soften. I wouldn’t hesitate too long in pulling the trigger if selling is what you decide. It’s just a toy to many of us and you know about boys and their toys. But, if it’s not really a daily driver and if I still had small children I would sell it in a minute. As it stands, I’m an old man with no obligations who has a new one on order.

 

[cerbomark]

as long as you don t need the cash keep it. You sound like me in my younger days and guess what happens. In 10 months you ll be buying another toy. It will be cheaper in the long run to keep it.

 

[ay1820]

Everyone's situation is unique, but I have always had a "fun" car and a daily driver, even while my kids were growing up. There were some years where the finances were a bit tough that I considered selling off my fun car, but in the end I was fortunate enough that I did not need to.

Overall, owning an "extra" car is far from the worst vice you could have and there are plenty of times when it can come in handy too (e.g.; my wife's mini-van was in the shop, so she took my DD and I drove the fun car).

As long as you are not compromising your family's financial position, there is nothing to feel guilty about. You get to have some fun too!

 

[Zelek]

Track day for the win.

Tough call. I got offered 10K over what I paid for my 17 but passed since nothing I could buy at the time was an upgrade. When people ask me how I like the car I immediately say love it.

I would trade it for a regular cab short box coyote powered F150.

I got rid of my 17 and the Mach 1 is every bit better than it.... Just sayin.

 

[MCS]

I'm in the same ocean but in a different boat LOL.

Last winter I drove my GT to the office once a week and to the girlfriends; the rest of the time it was in the garage due to COVID. Now I've done a ton of aesthetic work to it and I'm not sure I want it to see another winter; especially if I add the supercharger.

I am debating on getting a beater/dd for winter and for my 16-year-old son to learn how to drive in.

 

[sk47]

The used vehicle market is already starting to soften. I wouldn’t hesitate too long in pulling the trigger if selling is what you decide. It’s just a toy to many of us and you know about boys and their toys. But, if it’s not really a daily driver and if I still had small children I would sell it in a minute. As it stands, I’m an old man with no obligations who has a new one on order.

Hello; To the OP. This post is on point. I fear the country/world is on the edge of a big financial turn down. Being financially secure today might not continue.
The advantage of getting near what you paid when new is soon to be gone is my guess. Back in the 1970's I saw plenty of mid 1960's muscle cars on sale for cheap after the recession back then hit hard. I was not in a position to take advantage as that recession hit me as well.

On the other hand, i am glad some folks kept the old muscle/pony cars back then. If you have storage and are financially secure with enough extra to keep the car without sacrifice for the family, then my take is keep it.

I shop for vehicles in two different frames of mind. For a daily driver or work vehicle it has to make money sense. When I look at a car/truck like that to buy or evaluate a vehicle I already own to keep it has to pass the "is it worth it" test.

If I look for a bucket list car/truck all that "is it worth it" goes away to an extent. I still have to figure if i can spare the money but do not worry about how much it will cost to keep it. New engine. New trans. New pretty much anything become part of the plan. I rebuilt a 1963 Oldsmobile back in the early 90's -late 80's. Wound up in a bind and sold it for half of the cost of parts and not a dime for all my labor. I often wish i still had that car and would buy it back if i could find it.

Right now, keeping an expensive car does not make sense except if it is "the car". To get out from under such a toy at near no cost is a rare thing in life. If you love the car enough keep it if it will not hurt the family. You have a decision to make soon.

 

[DaveR.PP2]

I'm a guy who keeps his cars. I've got i think 13 of them now.

Have a '67 Shelby GT350 bought in 1973. Still have it.
Have this 2020 race red PP2. Keeping it.
Couple 63 Thunderbirds, 66 Galaxie XL500, 88 Mustang LX Coupe 5.0 and on and on.....

Self employed investment adviser 47 years in business and own my own company since 1996. We're less likely to realize successive double digit returns in future years (most markets). But there will always be opportunity just have to understand the risks.

Unless you need the money or you've found an alternative that's visceral and satisfies a desire to own something else that you want to enjoy would be the only reason to unload.

Four kids and a great family and wife who puts up with me have further enriched my life. You only live once. Do what makes you happy and never look back. Look forward!

 

[Mikepol2]

I have been in your situation 4 times over the past 25 years (and am living it again now but to a much lower degree).

Agreed, it is very difficult to walk past the Mustang just sitting there when you haven’t driven it for a while and think “why am I paying for this???”.

Somehow I kept ending up back in a Mustang. But actually getting back into one is MUCH harder than selling one.

If you can find any way to keep it, my vote would be keep it.

 

[Strokerswild]

Track day for the win.

Tough call. I got offered 10K over what I paid for my 17 but passed since nothing I could buy at the time was an upgrade. When people ask me how I like the car I immediately say love it.

I would trade it for a regular cab short box coyote powered F150.

To the bold, I wouldn't, as I have both. No way.

OP, you're probably not going to have the chance again to break even on the car. If you need to sell, no better time than now. Otherwise, assuming you can swing it and truly love the car, keep it. I've sold too many over the years that I regret selling now.

And I get the whole "why do I even own this car" thing, really I do. My S550 has only clicked 12K miles in the seven plus years I've had it. This notion was one of many factors in me not buying a GT500 (along with ADMs, no heir to leave it to, etc.) and I ultimately thought the premium of going back to a Shelby would be better spent on a third piece of property versus buying a late model car I'd use even less than the one I have.

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