poncho@home
GettingOld
What is your current monthly payment?
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V6mtl
Member
I live in Montreal and was deciding on a V6 or a V8 last year. I went with the V6 since it was 10K cheaper on the price of the vehicle, cheaper on insurance and cheaper on license plate renewal. A license plate is costlier for a motor over 4 liters here in Quebec.
Basically the V8 would have cost a lot more over 5 years than a V6, for not much more pleasure. The V8 is faster but with all this daily traffic and speed traps everywhere, I couldn't justify spending all that extra cash.
The V6 is more than fast enough, unless you're going to be racing the V8.
If you have money to burn, go for the V8, if not, save it.
Basically the V8 would have cost a lot more over 5 years than a V6, for not much more pleasure. The V8 is faster but with all this daily traffic and speed traps everywhere, I couldn't justify spending all that extra cash.
The V6 is more than fast enough, unless you're going to be racing the V8.
If you have money to burn, go for the V8, if not, save it.
OP
OP
sidhant
Member
- Thread starter
- #19
*update
So I checked and the insurance premium will not change for me.
It is actually going to be less because I will not longer be paying car replacement insurance. ($200 per year approximately)
This leaves the extra money I will be paying for gas and that extra 40 dollars a month.
I have asked the dealer if he can knock off another 3 grand on the sale price.
Lets see how it goes.
So I checked and the insurance premium will not change for me.
It is actually going to be less because I will not longer be paying car replacement insurance. ($200 per year approximately)
This leaves the extra money I will be paying for gas and that extra 40 dollars a month.
I have asked the dealer if he can knock off another 3 grand on the sale price.
Lets see how it goes.
Nagare
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Ummm, wouldn't you want to make sure you keep carrying that insurance? The car would be worth more and if you can't afford to get a new one out of pocket, it's definitely worth having.
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brpec
Well-Known Member
I think thats way to much struggle. you are debating $200 for insurance, $40 a month, gas etc... it looks like you can't afford that car comfortably.
My suggestion is for you to keep enjoy your v6 as much as you can, make more money and buy your dream V8 mustang without worrying about monthly payments or gas
My suggestion is for you to keep enjoy your v6 as much as you can, make more money and buy your dream V8 mustang without worrying about monthly payments or gas
scrubber3
Hopper, is that you?
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If you can afford it, get the GT. You only live once. Might as well enjoy it. A forum would be the last place I would seek approval to purchase a vehicle that I wanted. It's your life. You do you.
c-rizzle
Well-Known Member
Never look at things in $ per month.
Car dealerships always like to figure out what you can afford ($/per month), then squeeze as much money in their pockets from that. And they'll extend the term (do 5 or 6 years) or do odd ball # of months, etc. Whatever it takes for you to say ok, to that "afford $ per month" figure.
DON'T FALL FOR THAT SH$T.
Look at total $ you're spending, interest rates, $ then check the misc. fees.
Sometimes there are bullshit things you can get knocked off. "spay in bedliner, nitrogen fill tires, document fees, etc." One time, I was looking to buy an F150 and they had "spray in bedliner" on the invoice, but the truck didn't have it yet! They were looking to make a quick buck on it. Charge me $600+ for something that they probably pay <$300 for.
Car dealerships always like to figure out what you can afford ($/per month), then squeeze as much money in their pockets from that. And they'll extend the term (do 5 or 6 years) or do odd ball # of months, etc. Whatever it takes for you to say ok, to that "afford $ per month" figure.
DON'T FALL FOR THAT SH$T.
Look at total $ you're spending, interest rates, $ then check the misc. fees.
Sometimes there are bullshit things you can get knocked off. "spay in bedliner, nitrogen fill tires, document fees, etc." One time, I was looking to buy an F150 and they had "spray in bedliner" on the invoice, but the truck didn't have it yet! They were looking to make a quick buck on it. Charge me $600+ for something that they probably pay <$300 for.
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320guy
Well-Known Member
Here’s my take on insurance. Get a exact quote with the VIN you’re buying. My insurance told me my EB would be $1,000 a yr. Well yes, on a base model ecoboost, now that I gave them my vin is $1600/yr. Perfect driving record, married and house owner.
Now of course my deductible are very low and have some extra features in my insurance that I will get rid of them.
Now of course my deductible are very low and have some extra features in my insurance that I will get rid of them.
gixxersixxerman
Well-Known Member
I personally dont believe in paying a car off then trading it in, I trade in when i break even. If im going to trade at all. IE, my last car a focus ST i was able to get just under pay off at 17.5, i owed 17.8 i could pay it off then it would be worth maybe 7-8k then. Im giving up 10k that i could be paying on my GT those 3 years i had left. My payments went up 40$ aprox also, but went from a ST to a GT so way way worth it, even though the ST was faster from a roll in a straight line, the GT is a way way better car over all and way more potential. If you pay off the car, id keep it. to me anything else seems like a waste of money if you can get out of it for what you owe. Also make sure the dealership youre buying at knows you can walk away. Ive watched people get much more taken off when they could walk away then the ones that knew this guy was buying the car no matter what..
JCFoster
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$960 for a GT with less miles, I’d do it. I like my vert, but up there and it being a DD I’d rather have a hard top. I’ll blow that a year on bs stuff I don’t need.
FWIW, I wouldn’t take $480 a year to trade down to a V6. Not there’s anything wrong with the 6’s, or that the GT is all that, but the GT is just... just like it.
They’d probably trade you car for car with that small of a difference.
Updated...I missed the part of two additional years plus $40. Seems like a lot for a same year model. But, without knowing all the numbers it’s hard to say if I would do it.
FWIW, I wouldn’t take $480 a year to trade down to a V6. Not there’s anything wrong with the 6’s, or that the GT is all that, but the GT is just... just like it.
They’d probably trade you car for car with that small of a difference.
Updated...I missed the part of two additional years plus $40. Seems like a lot for a same year model. But, without knowing all the numbers it’s hard to say if I would do it.
Last edited:
TexasRebel
Gearshifter
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$200/month or $200/year?
That's $183/mo. difference.
That's $183/mo. difference.
wanted33
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sid, if you've been dreaming about a GT since you were a child I say why wait. I'm not sure of your age, but if you're like me with more years behind you than you have ahead of you waiting isn't an option I wouldn't even consider. If $40 more, and 2 years on the loan won't hurt your finances I say get that GT. Life's to short to drive a V6 when you want to drive a V8.
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