Should I pull the trigger?

[canyon ed]

There’s not much selection in SoCal much less under $32k for a GT premium with PP. This 2015 is located in Houston and is at a Ford dealership. How much to transport the car from Hou?
$500?

More than $500 check out you ship could be up to $1k Depending on what part of texas.

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[GreenS550]

I think you are getting some good advice. I don't want to discourage you, but all my Mustangs were purchased cash. I didn't get back in to cars until my youngest was in college and I had the disposable income.
Your 2010 is a great car. The 4.6 SOHC was a dependable engine, trans, rear end.
Since you've been paying down debt, keep it going. As a retired financial advisor it's the folks that delay the immediate wants that are comfortable in retirement or just later in life.

That said, I am really struggling buying a new '18 because I am so conservative with my money. I can pay cash with absolutely no ill effect on my finances, it's just that I struggle with the terrible depreciation a new car brings.

Mustangs especially, in my experience, are really dependable, so unlike other cars from the past, buying new is only of interest to me if it is really different.

 

[jtmat]

Any score above 700 is pretty good. I’m almost there. I have brought down my credit card debt significantly.

700 is okay... but you are currently below 700... and talking about racking up much more debt than you can handle.

I would sell the mustang, get a very used civic and call it a day for now. My apologies, I said Honda accord before, that was a mistake. You will save a ton on car insurance/payments/maintenance with a civic.

You have credit card debt which might mean you don't have an emergency fund or that fund is very anemic.

With all respect, this site will help: https://www.practicalmoneyskills.com/ (operated by Visa, but good for where you are).

At the end it is your life... no one can make the decision to purchase "x" car for you... we don't truly know your financials. On a forum I might ask about reliability or other factors, like known maintenance issues.

I'm sure you will make the right decision... if that is the $30k GT, I'm sure you will be happy with it.

 

[2018OFPP1?2]

I think you are getting some good advice. I don't want to discourage you, but all my Mustangs were purchased cash. I didn't get back in to cars until my youngest was in college and I had the disposable income.
Your 2010 is a great car. The 4.6 SOHC was a dependable engine, trans, rear end.
Since you've been paying down debt, keep it going. As a retired financial advisor it's the folks that delay the immediate wants that are comfortable in retirement or just later in life.

That said, I am really struggling buying a new '18 because I am so conservative with my money. I can pay cash with absolutely no ill effect on my finances, it's just that I struggle with the terrible depreciation a new car brings.

Mustangs especially, in my experience, are really dependable, so unlike other cars from the past, buying new is only of interest to me if it is really different.

To quote the younger generations, "YOLO!".

I completely understand your point, but remember, this isn't a financial investment, it's an investment in your happiness. What's that worth to you? Don't wait until it's too late to enjoy it, especially if you can afford it.

Oops, missed that you are currently driving a 15, so probably not missing anything, unless something about the 18 really speaks to you.

 

[GT-SV]

This would not where somebody should go for financial advice, lol., even if I do agree that a car is just a fun depreciating asset.

 

[Macfarland]

Thanks for the advise, actually I am only $1200 away from paying off my credit cards. I will do that once I receive my tax refund, and you guys are right. Is not worth it going into debt with high APR. I will wait until my credit gets well above 700 and be on the market again in a year or so for a used 2018 with active exhaust.
Thank You all!!

 

[113]

Thanks for the advise, actually I am only $1200 away from paying off my credit cards. I will do that once I receive my tax refund, and you guys are right. Is not worth it going into debt with high APR. I will wait until my credit gets well above 700 and be on the market again in a year or so for a used 2018 with active exhaust.
Thank You all!!

Smart decision man.

 

[Zelek]

You made the right decision. That deal was not good.

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