What would you do?

[swedensky]

Going to make this as short and simple as I can. Just looking to see if anything is said I haven't thought of/considered.

Ford has approved to buy back my Shelby. Without too much detail I have had 7 repairs under warranty in 6 months NOT related to modifications. This does not account for the numerous trips where no repairs were recorded. It is also affected by the Safety recall.

The refund will pay off my loan and net me a cash return as well. I also have a set of wheels I will receive a large amount for as they have not been machined yet.

What should I do now? Here are my choices I've come up with so far:


• buy another one. I probably cannot get an msrp deal at my dealer but could shop for one and put all monies towards the new one for a lower balance and lower payment.

• be "responsible" save the money and just drive my truck (16 lariat ecoboost screw 4x4) possibly buy a house soon (I am 25 and renting)

• buy a gt and go nuts. my basic build list could be paid for completely and payment on the car would be much smaller.

• raptor, M3/4, RS, etc - I've owned 6 mustangs and haven't gone without one since 2010 so investing in a new line makes me nervous that I won't want to stay. I'm not a "grass is greener" person and don't like change.

Only other possibility is have ford "replace" my car but I'm waiting to hear back on that process. Do they find my car, do they enforce msrp, do they pay off my loan and setup new financing or just trade collateral, do they pay the difference in model year base cost, etc


Thoughts, opinions, all are welcome.

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[Tomster]

Going to make this as short and simple as I can. Just looking to see if anything is said I haven't thought of/considered.

Ford has approved to buy back my Shelby. Without too much detail I have had 7 repairs under warranty in 6 months NOT related to modifications. This does not account for the numerous trips where no repairs were recorded. It is also affected by the Safety recall.

The refund will pay off my loan and net me a cash return as well. I also have a set of wheels I will receive a large amount for as they have not been machined yet.

What should I do now? Here are my choices I've come up with so far:


• buy another one. I probably cannot get an msrp deal at my dealer but could shop for one and put all monies towards the new one for a lower balance and lower payment.

• be "responsible" save the money and just drive my truck (16 lariat ecoboost screw 4x4) possibly buy a house soon (I am 25 and renting)

• buy a gt and go nuts. my basic build list could be paid for completely and payment on the car would be much smaller.

• raptor, M3/4, RS, etc - I've owned 6 mustangs and haven't gone without one since 2010 so investing in a new line makes me nervous that I won't want to stay. I'm not a "grass is greener" person and don't like change.

Only other possibility is have ford "replace" my car but I'm waiting to hear back on that process. Do they find my car, do they enforce msrp, do they pay off my loan and setup new financing or just trade collateral, do they pay the difference in model year base cost, etc


Thoughts, opinions, all are welcome.

I suggest option 1. Are you able to slide into an R?

 

[murdock2112]

The adult in me says save the money and purchase a house but, I don't know what your long term goals are and if you plan on staying where you are. I personally would go with purchasing a new one maybe getting an R if possible. Just make sure you do what feels right deep down in your gut.

 

[EVIL-PUNKIN]

In the end it's completely up to what you truly "want", but I'll give my honest opinion anyway! if you want a car that will blow your mind every time you get in it then go the GT direction and add some for on boost and you've got a 600-800 rwhp car with the way it sounds money left over!

The "adult" and "responsible" and "smart" move would be to take the money and invest it into a home though. A home is something that more than likely will never "cost" you money per se, but will be able to appreciate and in the future could earn you some money if you decided to sell or move somewhere else. I guess a gt350 could also be considered a inverstment too but it sounds like you enjoy your cars and mod them like any true blooded car guy SHOULD! lol

With whatever decision you decide to make just sit down and think it out for awhile before you set your mind on something. Write it all out on paper and see what looks the best for your financial situation and future. You'll work it all out! Good luck man on whatever you decide!

P.s.- Please stay Ford/Mustang!!! You'll regret it and there is way too many badass choices in the new Ford lineup!!!

 

[Deca]

An R because..? Shop around and get a new one at msrp or justa tad over

 

[bluetail]

Get your money and run ! I went through the same thing with a 2015 Dodge Scat pack ,and took the money and got a Gt350 now my Gt 350 is burning oil bad . I wish now I would have just put the money back in the bank . Getting ready to get a lawyer one more time . I will just drive my old Subaru it just keeps running .

 

[Colleton]

I would definitely jump on the buy back, and would probably be looking for a new one shortly thereafter. If you can't find one at MSRP you can certainly find one very close to it.

I'm assuming that you are already saving for retirement, and doing all the "right" things financially for your future though. Hard to do at your age, I know. You're young and have plenty of time, tomorrow will never come... So I guess my real vote is to buy a home that will build equity and enjoy the truck for awhile. Or at least sell the truck if you're set on a GT350 (assuming that you're making payments on the truck here, so I might be wrong).

Which ever way you go, best of luck!

 

[CSL]

You will be depressed without another one so I think you should find another GT350 or get it replaced. Sorry to hear you have had so many issues. I would not go the GT route. I had a built car and it ended up not being too fun on the street. Good luck.

 

[krt22]

I would think your dealership would be able to leverage their relationship with ford and your regional rep to get you a replacement 2017 at MSRP. If not I would think you can find one easily enough out of state at MSRP, those deals pop up all the time now. Given the recent announcement of the mustang GT4 for IMSA use, the whole ford needs to sell the GT350 for homologation seems out the door, so the 2017 really might be the last run of them. If ford does buy back the car I really hope they cover sales tax as well, otherwise that is a huge hit.

The real question appears to be if you want to get out from under a large car payment or not. As for buying a house right now, well that is a tough question. The market is still peaking but it does look like its starting to level out. The real question is if it levels out or if prices take a dip. It seemed unfathomable for many that housing prices would ever reach 2008 levels again, but here we are well past that mark in the bay area.

 

[HizliBullet]

Id say keep the cash and "be responsible" because the same problem might hit again

 

[Bladex10]

Option E: Wait for the next Shelby GT500

 

[ETCH]

I would get a GT and Mod the fuck out of it. im running a GT with a 2.9L Whipple, with 10k in the suspension, another 5 in the drive train, with everything else I've done, I blow the doors off GT350s. Yes I know in the long run, the Gt350 will be worth more to a collector, but im not selling my GT, im keeping it. I have already crushed the dreams of two GT 350 owners... I love my GT

 

[Mike02z]

I see a couple of folks with GT's suggesting you go with a GT and mod the he*l out of it. The GT is a great car. I had a 16. That said, now that I have a GT350, I could never go back to a GT whether modified or not. It's simply not even close to a GT350 in my opinion. Modifying it will make it faster but then you have no power train warranty and you be dumping money that you will never get back if you need/want to sell in the next few years.

As others have said, if you truly want to do the responsible thing, take the money and save it for a house. I've never been that responsible so I'd get another GT350.

Good luck with your decision.

 

[firestarter2]

I don't know if I'd buy the same car after getting a lemon.

The smart thing is not to mod a GT to the point of no warranty though lol.

Home ownership is not always the right move it reduces you flexibility to move for work and if you get unlucky can be a bad investment. Unless you know where you want to be in 10 years it may not be the right option.

What about a GS vette?

 

[Hack]

Are you a road course guy? Did you ever get your car to the track? If you wanted to and never got the chance you are missing out on how great the GT350 is. If you don't want to drive on the road course, IMO I would wait and get something else. The next thing Ford comes out with in the next year or two will be faster.

Having said that, at 25 years old you would be very smart to buy a house. That is what I did at that age. I started building retirement accounts and I bought a house. Now I am nearly 50 and those decisions have paid / are paying me back big time.

Good luck!

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