HPwhitevert

My 08 GT/CS vert lease is coming to an end at the end of Feb. and my dilemma is should I buy it or turn it in and buy a 12' later? (no more leases for me, the mod bug has bit and a lease inhibits this) The buy out is roughly $22.5k and the car only has 3300 miles on it. (yea I know, I shoulda' driven it more - but it has strictly been a topdown sunshine car)

To make things more complicated, I prefer the looks of the 05-09, body - especially the rear end, but the new 5.0 engine/ 6 speed and new interior are outstanding. To replace what I have in kind, except that it would be a 2012, would retail at $42K. I would consider the coupe in lieu of the 'vert too. Another option might be to buy a used, low miles 07-09 GT-500 and those prices are from $35K upwards.

Any thoughts or opinions on this? I'd like to get other ideas/perspectives to consider so that I can make a more informed decision... thanks.

Scrape

Buy the car out! no point in starting all over again.

tdbrown75

+1 - You'll pay more for something that's comparable on the used market and you won't know the condition or how well it was cared for. I don't usually believe those lease buyouts are a good option but in this case I think it's probably the way to go especially considering the mileage.

Tim

denlem

I'd buy it as well. Ford had a GREAT deal on Mustang leases back in early 2008. You're no worse off buying the lease than if you had financed it. With that low miliage it will go back on the dealer lot and someone will make some good money off of it. Keep it, even if it's only to sell it in the spring and make a few bucks yourself.

If I hadn't been layed off, I would have bought my leased '08 as well.

825LTRGT

How about talking to Ford and if you buy it,see if they'll give you the 100k warranty since it's "used"?

Then I'd go for it without a thought.

karman

When I initially sold a lease, I used to tell customers who thought they might buy at the end of the lease that it was the best test drive they will ever get.
If they hate the car, drop it off and forget about it.
If you love it, it will be a used car that they know everything about and they bought at a fair price.

HPwhitevert

Thanks for the feedback. I'm leaning towards buying it and doing some mods, like lowering the rear to match the front height and getting rid of the wing spoiler. Any other opinions out there?

ford4v429

Beautiful car. Ultra low miles. Well cared for. good price.

Just kiddin

Id definitely hang on to that one, they dont makem like that anymore. you can buy a crate 5.0 and PCM for around 7500- but it'll need 'some tuning' to say the least to work in your car- I bet you could get a PCM from a wrecked 11 and just the 6000.00 crate motor to work just fine...another few k for a tranny and whatnot, youd still be 10k ahead of what a 12 would run you- plus still have your favorite body style AND something unique that you can say 'I did this' and satisfy that mod bug - in a very envious way!

ps- cool avatar...Jack Northrop was way ahead of his time. such a shame the government chopped those unfinished planes to bits (before they were all even flyable and after they were paid for by the US citizens). Jack Northrop and Kelly Johnson were two of my 'heroes' as a kid.

GtStang4

What they said, buy it. The new motor is great and I would like the 6 speed, but can't get over the body style (rear). Yours looks better. My '08 has less than 3,000 miles and I plan to keep it for a long time

antdog

Buy It!

HPwhitevert

Tim
I've always been a fan of the Northrop Flying Wings. As proof of their advanced nature, just look at the current B-2. It has the exact same wingspan as the old Xb-35 and Yb-49's - 172 feet. Now the new term is 'blended body aerodynamics'. LOL just like ol' Jack Northrop would have designed them...

Coupe Guy

Can you find another car like yours with equal mileage for that price? I'd say buy it, the newer cars are far more expensive.

HPwhitevert

Marc
you are right. I recently did some research on the used car values of this Mustang and the lease buyout price is LESS than the Blue Book, NADA and Edmunds retail & private sale prices. And the lease buyout price is even less than the trade in value for Kelly and NADA. It's about equal in Edmunds. Plus this car has been garaged and very well kept. I'm keeping the GT/CS. I'll have a 'brand new', 4 year old car when the 12's come out in March. LOL.

Coupe Guy

Good choice!!!

crazyhorse

That is a beautiful car. As soon as I saw the pic at the bottom of your OP, I was going to recommend the buy. Of course, I am biased to white '05-'09 body style.

With your intended use (Sunny day only) and low mileage of the car, I think letting it go would be a mistake. Espcially if you are going to replace it with a car that is nearly double the cost. The 5.0 would be great, but ,20 grand for more power (and a body style you like less) is a lot of money.

shooterm1

The sweet thing is that you'll be able to modify it if you buy it.
Start by dropping the rear 2 inches and getting rid of that spoiler thingy!

shaun_beauchamp

Keep the car. You can get the V6 spoiler for about $65 shipped to your door. It uses the factory "wing" bolt mtg holes and looks great top up or top down on a GT vert (GT/CS in your case).

I think the GT/CS vert is by far one of the nicest looking stangs, period. With a few mods, you will get over it not being a 2012, especially when you have an extra $20K lying around. Also, can you leave a 2012 stock? Just going to push your obsession into the stratosphere if you keep trying to have the latest and greatest.

HPwhitevert

Yes I like the V-6 flat spoiler - where can i get one for $65? thanks.

fdjizm

I would never do a lease, the idea of paying for something you are never going to own just makes me cringe.
Might as well buy it though, it is the nicest body mustang ever

shaun_beauchamp

http://www.carid.com/2007-ford-musta...tem-45281.html

Is the closest I found today. I got mine from NEW TAKE OFF in 2007, but I guess with the time that has passed, it's not "NEW" anymore.

If you hunt around on eBay and such, you can find one or two. I see the one you have on the car is now going for $99 on the net in most places. When I had mine, I couldn't give it away! I think the pedestal type sold for $39 back in 2007.

Crazy how this market getting thin makes things go up. Our car values are higher because the new ones are in the $40K range loaded and people prefer the retro body style in general.

At least you get to buy yours for a great deal! I'll look from time to time and post back if I see an HP (perf. white) V6 spoiler at a good deal from a reputable source.