I went to my local Ford dealership and my salesman did a mock build for an 05 Mustang to see how much it would cost me. We put together a Mustang with the following:

GT Coupe Premium
5spd
Shaker 1000
IUP

It retails at $28,075, but I can get it for $24,824 with the A-plan.

My payments if I leased it would be $450/month, and with nothing down around $500/month if I buy it.

What do you guys think? I am liking those numbers!!

 

Sounds like a rip-off.

 

really? or are you just joking?

 

I recently ordered one with the same options on the x-plan and it came out to 1k more. It is a good deal, It`s cheaper than the dealer gets it for.

 

500 a month on a 25,000 loan??? Don't have my calculator handy but that sounds like a very high interst rate. I'm guessing around 8 ro 9 %. At 5% the payment is about 400 a month.

 

If you don't make a decent size downpayment, don't get the car. The interest you get rid of because of the downpayment pays for itself.

 

I'm no genius but $400/month for 60 months only pays back $24,000 including interest. You get a bank to loan me $25,000 for 400 a month x 60 count me in. $25,0000 borrowed at 5.75% is around $481/month.

 

Dude, it sounds like a total rip off. At nearly 500 a month assuming is a 60 month loan. Then you will pay back nearly 5200 in interest & nearly 30,000 in all. So, IMO it's a total rip off on interest. Check around before you deal. And, please get it in writing.

Happy shopping & happy (safe) driving.

 

Make him run the numbers right in front of you.

I got quoted for a Mach 1 at 550 a month after putting down $4,500 dollars, so I walked out. Some dealerships offer up insane numbers at first because some people aren't smart enough to check for themselves.

At $28,000 you should be looking ~480 a month with a decent financing rate.

 

Dealers offer larger numbers at first because of unknown credit.

its just under $20 per thousand for 4.9% financing. 25k car should be about 530 a month with 5% financing and 3% tax with no money down. There is a huge section on how to measure up financing I typed in the FAQ. $500 is nothing anyway, I added up last months lunch/ciggs/snacks/bar tabs for last month(no groceries or bills, mind you), I busted $1100 bucks

 

You got lunch, cigs and snacks for less than $200! ///Sarcasm///

 

I'm no genius but $400/month for 60 months only pays back $24,000 including interest. You get a bank to loan me $25,000 for 400 a month x 60 count me in. $25,0000 borrowed at 5.75% is around $481/month. [/b][/quote]
The 400 would be at 6 years instead of 5.

 

You should put down a large downpayment. If you can't afford to put down at least 5K, then you shouldn't be buying an expensive new car.

Personally, I plan on spending no more than 20K on my V6 after taxes, and I'll put down at least 5-10K of it, depending on how the market is doing when I buy the car in a year or so.

 

take the price, and get your own credit union financing and just buy it.