What do you do?

[jmn444]

You got a brand new gt350 for $50k in 2016???? I thought they all sold well over msrp back then????

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[Shift]

You got a brand new gt350 for $50k in 2016???? I thought they all sold well over msrp back then????

Base GT350 bought from a east coast dealership located in the boonies basically. Got the lead from a fellow forum member who made a thread on it. 15 minutes after he posted I had locked down the allocation to be built to my spec.

 

[rebellovw]

How is that a complete false statement? It even beats Porsche for resale values, which is pretty fucking amazing to put it lightly.

https://www.kbb.com/new-cars/best-resale-value-awards/best-resale-high-performance-car-2017/

I bought my GT350 brand new back in 2016 for $50k and driven it 20k miles, and 3 years later the trade in value is still above $40k.

A 2018 Mustang GT Premium's MSRP is $45k. Let's say you got it for $42k-43k which is around invoice. That car with 10k miles is now worth $32k a year later. That's a 24% drop within just a year compared to my GT350 at less than 20% over 3 years. Regular Mustang owners all take a bath on depreciation.

Same goes for a GT 350 Einstein and we are talking much more than 10k depreciation after first year.

Bottom line the statement is false since you are going to lose money any way you look at it.

 

[Shift]

Same goes for a GT 350 Einstein and we are talking much more than 10k depreciation.

Your reply provides nothing. Your previous comment of the GT350 not holding its value better than a GT was also proven false. Back up your post with some real stats. By the way, if bought your GT new, how much did you pay and how much is it worth now?

 

[lightrules]

What do you guys do to be able to afford this level of car?

pray and save :-)

I really want the GT350 though lol it's a ton of fun, and i am only scratching the surface because all i've done so far is take it on a 15 min test drive

i started out looking at some 5.0 PP1's, then test drove a used grabber blue 2017 gt350, then ended up buying a new R lol . i think test driving a shelby is the best way to test one's self control and i failed.

 

[rebellovw]

Your reply provides nothing. Your previous comment of the GT350 not holding its value better than a GT was also proven false. Back up your post with some real stats. By the way, if bought your GT new, how much did you pay and how much is it worth now?

Too funny so in your world you spend over 30k more on a car in the hopes it will depreciate less.

A new 19 350 is 65k. I’m sure not very negotiable. There is a nice one 3 miles from me at Galpin. 18s seem to be going used for about 55. I cannot imagine buying a 55k new used car (Springsteen.)

I’m probably at a 10k loss though I recall checking for fun last month and it was more like 8k. (Trade in)

Regardless I’m not going to sell my car period. I’m out of pocket 40k cash and I’ve replenished it in 7 months. A new 350 would be closer to 70k.

There is no argument here - it is up to you to decide if it is worth the stretch but it is 30k no matter how you look at it.

 

[rebellovw]

Nice. There are worse things in life to lose self control over. There is a new 350 a few miles away. I won’t go near it.

 

[firestarter2]

Owning a GT350 is not really a stretch for me most owners I have me are older. You have to decide what your priorities are there are very few things I enjoy more than a car in life.

That being said I think cars are too damn expensive now.

 

[nimblepony]

I'm not wealthy. But I really wanted this car. I still would have passed (and always regretted it), but the wife supported the idea. In fact, she told me "but it!". So I made it happen. We made it happen. I've had nothing but happiness since.

So I think the key was for me, my wife's support. If she had been against it, the happiness I had with it would have faded quickly and it would have just been guilt. So, if you aren't single, consider what your other half says. If she (or he) likes it, too, then why not make the sacrifice necessary to make it happen?

 

[oldbmwfan]

Financial advice on a car forum, as others have said, is likely to be spotty because even if everyone his honest, no one knows your full context. Debt? Savings? Cost of living where you are? Family safety net? Working spouse/partner? Kids? Plans for kids? Plans to move? All of these things matter. Your age and risk tolerance also matter.

I bought my Shelby in my late 30s. It was the first new car I ever bought, and with one exception, it was the first car I ever paid more than ~$10k for. Through my 20s and most of my 30s I mostly drove cars that cost $7k or less. Always cash. Never borrowed on a depreciating asset. By the time I bought my R, I could have paid cash for it fairly easily (I borrowed because the financing was pretty cheap and it made sense to leave the cash invested). That's coming from someone who is financially pretty risk-averse and who views cars as depreciating assets that have a high risk of destruction. You may be different.

Lots of people finance their lifestyle with debt that they can only manage if they keep their job, don't have a downturn in the housing market, etc. I recommend against that. If you can do it comfortably, do it; if you can't; wait. I am no worse off having waited 15 years to buy a new, relatively expensive sports car - and I had a lot of fun during those 15 years taking my older, cheaper cars to the track and doing all the work myself. Anyone who tells you you need a $55k-65k Shelby to have fun is lying.

 

[Phoenix]

bought mine used. low interest long term financing is great. as long as your down payment and monthly payments keep up with depreciation its fine. many in the supercar world do this.

 

[qtrracer]

Retired - have the money. Still won't buy a $70K Mustang. Have other things I'd rather do. Used their money to buy the '16 - none of mine.

 

[lightrules]

Retired - have the money. Still won't buy a $70K Mustang. Have other things I'd rather do. Used their money to buy the '16 - none of mine.

you can get new 2018's for $55k. and of course we know the gt350 is not just another mustang.

 

[NoXiDe]

Shoot, it's definitely not. My friend hates it when I call it a mustang and he drives the 2019 Z06 Supercharged (650whp). He's certainly right, it's a GT350 or a Cobra.

 

[nastang87xx]

Financial advice on a car forum, as others have said, is likely to be spotty because even if everyone his honest, no one knows your full context. Debt? Savings? Cost of living where you are? Family safety net? Working spouse/partner? Kids? Plans for kids? Plans to move? All of these things matter. Your age and risk tolerance also matter.

I bought my Shelby in my late 30s. It was the first new car I ever bought, and with one exception, it was the first car I ever paid more than ~$10k for. Through my 20s and most of my 30s I mostly drove cars that cost $7k or less. Always cash. Never borrowed on a depreciating asset. By the time I bought my R, I could have paid cash for it fairly easily (I borrowed because the financing was pretty cheap and it made sense to leave the cash invested). That's coming from someone who is financially pretty risk-averse and who views cars as depreciating assets that have a high risk of destruction. You may be different.

Lots of people finance their lifestyle with debt that they can only manage if they keep their job, don't have a downturn in the housing market, etc. I recommend against that. If you can do it comfortably, do it; if you can't; wait. I am no worse off having waited 15 years to buy a new, relatively expensive sports car - and I had a lot of fun during those 15 years taking my older, cheaper cars to the track and doing all the work myself. Anyone who tells you you need a $55k-65k Shelby to have fun is lying.

And then there's the arguments about financing vs not financing, debt ratios, cash only, house owning vs not, blah blah...those can be pretty heated arguments. But a dude who has a spouse, two kids, a mortgage, two student loan notes for him and her, and another car to maintain is not going to have the same situation as say me who's renting in a downtown metro area with no kids, no student debt, no credit card debt, and the only responsibility I have is ensuring I don't puke in an Uber on my way home from the clubs every weekend. (Gasp! nastang is financing! How dare he!)

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