So.. is this a crazy idea?

[AR306]

Some of the numbers you're providing are more or less what my EB is costing me.. so if that's giving you hesitation I'd say don't do it Lol.

And like the others have said, you most likely will not want to stay stock so factor that in as well..

And oh yeah, if you have any fun whatsoever in your car, you're going to burn through rubber rather quickly.. I just got 4 new tires at 9,300 miles, the cheapest/best tires I could find in this size were the Sumitomo HTR Z III's.. at $140 a tire that is actually a pretty good deal for this car Lol.

The stock Pirelli Nero's are about $200 a piece.. P Zero Summer Y's about $190ish.. Ventus V12 EVO 2's about $180ish.. so you might want to factor that in too..

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[nelson]

Have you tried to shop around with insurance? When I went from my '06 V6 to my '15 GT, I was being quoted 80+ dollars extra per month for insurance (Around 180-190). Switched insurance companies and now I'm paying about 4 dollars more a month.

Gas is killer, though. I budget about 250 dollars a month for gas. That's about 5-6 fill ups per month.

At the end of the day, you have to decide if it's worth it, as we honestly don't know your financial situation lol. The car is a blast and it looks like you've been part of these forums for over a year, so you must be pretty interested in the car. Go test drive one and see what you think.

I have shopped around on insurance, but I am under 25 so "high risk" rating for car insurance, especially at a GT power level.

What's crazy is that you got rid of a mustang for a Fusion. You probably took a really bad hit on going from the 14 to a 15 and then shortly dropping that for the fusion. You just keep paying depreciation on these cars. Cars depreciate the most in the first year. I'd get a used GT and keep the cost lower. Have someone else take the depreciation hit for a change.

The 14 was lemon'ed and the 15 I sold a year later for $1K less than what I paid, so I actually made out alright. I didn't care for the ecoboost, it was a mistake going for the 4banger, hindsight is 2020 I guess. The Fusion lease is really really strong with a good residual and low finance rate, so overall I made out a lot better than it appears at first glance.

Honestly, it appears as if you have a succession of..........bad automotive buying and selling decisions in the recent past. You're taking a financial ass-whooping buying and selling and buying and selling, you're just throwing money away with every change.

Then, if the person who is going to "take over" your lease (no such thing), then you're fucked if the decide they don't want to pay for it anymore.

If you have the disposable income, do it. If not, don't.

See above for better explanation, if that helps. I am not fucked if they devide to stop paying post transfer as the lease liability will shift to them, else I wont move forward with it.

If you're factoring in an increase in gas cost, this probably isn't a sound financial decision for you.

I work in finance, I factor in the $57.50 title/license fee into my calculations when purchasinng a car, let alone gas. Don't assume just because someone is calculating a budget that they're financially illiterate.

 

[NightmareMoon]

Under 25, you're screwed for insurance, but get an independent insurance agent and let them shop around for you anyway.

At least you can use regular unleaded in the GT, which does save a good amount on gas.

Honestly, you'll do better to get into a used GT instead of a new car off the lot. Depreciation is the terrible on new cars, and you should be able to find a killer deal on a low mileage used GT, especially once the '18s hit the floors.

 

[nelson]

Under 25, you're screwed for insurance, but get an independent insurance agent and let them shop around for you anyway.

At least you can use regular unleaded in the GT, which does save a good amount on gas.

Honestly, you'll do better to get into a used GT instead of a new car off the lot. Depreciation is the terrible on new cars, and you should be able to find a killer deal on a low mileage used GT, especially once the '18s hit the floors.

Yeah I can definitely look at used examples. I'm just worried about abuse but I suppose thats a risk you run buying used.

 

[jpindustrie]

no one is trying to insult your intelligence. There are a lot of hidden costs when wheeling and dealing that much on dealership cars though most of which is your time..

But i digress, if you're asking a bunch of Mustamg enthusiasts to fathom sensible financial costs I think your heart has already made the decision. ;)

 

[Mustang1260]

WAIT
The increase in Gas is gonna be a lot more then you think. Lots of interesting changes over the next 2-3 yrs: GT500, GT350 continues, speculation as to the Bullitt and Mach 1. Big change with the S650 coming in 2020.

Run the Fusion for 2 more years under your great lease...that extra $350-400 per month, your grossly underestimating gas -put it into a separate acct that you do not touch and you'll have an extra $10,000+ to put down on a new 2020 or gently used 2019 Boss whatever....

Ignore the (censored) who say go for it...tomorrow is another day. As you say, your under 25...you have time to both run a 'hot car' and build for your future. A lot of go for today types are working at 75 as Walmart Greaters to feed themselves....don't mean you have to clutch every penny as if it is the last but use some common sense on when to go big. BIG changes coming to Mustang over the next 2-3 yrs...let them come to you and you be ready.

 

[foghat]

don't look at the numbers just close your eyes and do it

This.

No.

If you're factoring in an increase in gas cost, this probably isn't a sound financial decision for you.

Most likely this.

If OP is really concerned about the additional cost to the point he is factoring in the extra gas money, this move likely does not make sense. Though it is sounding like OP maybe is just covering all the bases and it is not so much a money concern. Only he knows for sure the affordability of the move.

 

[nelson]

No.



Most likely this.

If OP is really concerned about the additional cost to the point he is factoring in the extra gas money, this move likely does not make sense. Though it is sounding like OP maybe is just covering all the bases and it is not so much a money concern. Only he knows for sure the affordability of the move.

Look, you don't buy a house without having an inspection right? And when the inspection comes back and shows you need a $10K roof next year, you factor that into your purchase. It doesn't mean you can't afford the $10K roof, it means you're considering it and all the other factors when purchasing the house.

Same thing here. GT comes with extra gas and extra insurance cost, thats just one of many factors that I am taking into account.

 

[foghat]

Look, you don't buy a house without having an inspection right? And when the inspection comes back and shows you need a $10K roof next year, you factor that into your purchase. It doesn't mean you can't afford the $10K roof, it means you're considering it and all the other factors when purchasing the house.

Same thing here. GT comes with extra gas and extra insurance cost, thats just one of many factors that I am taking into account.

Hence my underlining of the word 'if'.

Often these types of posts are from people looking for 'encouragement' from the community to help them feel okay about buying a car they can't quite afford. Which, as some posts here prove, people are more than willing to provide - your financial situation be damned.

In your OP you didn't state the extra $350 was not an issue. In fact, the way your first post reads, it feels like the extra $350 a month was weighing fairly heavily on your decision. So, no doubt, you are going to get some of the responses you did.

I am not quite sure what type of responses you are looking for in this post. Sounds like you didn't lose your shirt on your other cars. If you want the car, have a solid way out of your current vehicle, and the additional cost is not an issue to you, get the car and enjoy it.

Honestly, I would hold out and see what the pricing is like on the '18s. At the very least, you should be able to get a '17 at better price. Though I guess doing so likely means you lose the way out of your current vehicle.

 

[jtmat]

I'm currently a year into a 3 year lease of a Fusion Energi (PHEV). I used to own a '14 S197 V6 and a '15 S550 EB. I have someone interested in taking over the Fusion lease, and am considering getting a '17 GT instead.

Insurance on the Fusion (100/300/100, $1K deductibles) is about $106 a month, and insurance on the GT is about $180 a month (:(). +$74

Gas usage will also go up a lot as I'll probably drive it a lot more, perhaps +$75 a month.

Plus the payment on a $30K loan at 2% is about $500 a month, +$200 over what I pay on the Fusion.

So, +~$350 for the GT......

Since maybe you are concerned about the $350 (if not why post about it?), I would keep the fusion and then in two years get a GT. Save the $350 per month for a huge down payment or to pay off other bills, if you have them.

If you are not worried about the extra payment, go for the mustang.

As the others have said, only you know your true financial situation... so no one knows if this is a crazy idea for you...

I do the same thing with my financial decisions... I budget down to the last penny. People think I go overboard, but I am very financially stable... good thing to run your numbers like that... many don't and get in financial trouble.

 

[5-OH]

"I just layed down the most wicked double black stripes and donuts"

Those words have never come from the mouth of a hybrid owner

Life is too short, go for it you can't buy back youth.

 

[abharwani]

I think someone mentioned it earlier but have you considered getting a used 2016 GT instead to make the purchase even more reasonable? Will help with insurance and your overall spending.

I'm considering purchasing a GT but might wait until the '18 comes out to see how low '16 and '17's are priced. Your situation may be a little different since you have someone taking over your current lease so that may not be the best option currently.

 

[danny0441]

What's crazy is that you got rid of a mustang for a Fusion. You probably took a really bad hit on going from the 14 to a 15 and then shortly dropping that for the fusion. You just keep paying depreciation on these cars. Cars depreciate the most in the first year. I'd get a used GT and keep the cost lower. Have someone else take the depreciation hit for a change.

depreciation is not to bad on these cars unless you buy a 40k gt i financed 32k on my base with recaros when they first came out at 7% and ive had the car for about 22 payments and i have about 2k in equity not to bad i think according to kbb i could trade in for high 25 or mid 26k and i owe 23900 the trick to them is to keep them untill you pay them off at that point the gt is still worth some decent money in trade in or has a lot of life left if you wanna drive it into the ground

 

[Keith_PDX]

Don't take this the wrong way but let my 40+ year old wisdom at least make you pause and think. This might come off abrupt but if you have a conundrum over $350 a month and don't already owe your own home, max out your 401k and have a nest right to get you through the tough times life can deal, save your money and make the financially intelligent decision versus the emotional decision.
With that said... Life is short. Enjoy every moment.

 

[Semi]

Let me just tell you I'm 45, single and I have three people renting rooms. They pay for my house payment and utilities, I live for free in a 600 square foot basement.

So I'm not rich but my credit's above 750 and my bring home is more than 2k and I still hesitated on buying this mustang.

I'm getting less than 10 mpg and I work from home and yes, don't kid yourself you will want modifications.

Enjoy the fusion is my suggestion, you're still young.

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