so i was on the phone with my dad the other night, talkin about the mustang of course, and he says, "why dont you just go ahead and get the GT if you plan on keepin this car a while?" I replied with-"I dont think i can afford it." But, i started crunchin numbers and realized if i stretched out the term for my financing a little, it wouldnt really be THAT much different in the cost. So, i call the insurance agent and again, only a $60 difference between the GT and the V6 over 6months. So my question is....

should i change my order and get to the back of the line, even though i ordered in september? Is it a good decision to apply for a 72month loan as opposed to a 60month? And....It looks like my explorer will sell this week, so which would be quicker on delivery?

i know it's alot of questions, but i need some help here. I thought i had this all figured out

 

If you want the GT you will be kicking yourself if you get the V6. It is not taking that long to get a GT. You can order one or start going around to lots that already have them. A 72 month loan will only lower your monthly payments but you will be paying a lot more in interest. If you can afford paying the extra $$$/mth for the 60 month loan I'd go for that.

 

usually NO

the increase in interest usually negates the savings

usually the payment drops by a couple bucks when going from 60 to 72 months


stop smoking
go on a diet
stop buying **** (use internet ;p)
stop buying girls drinks at bars
bring lunch to work..screw boston market!=p
start mugging old ladies at ATM's....
and finally if you do the last one i take no responsiblility
;p

 

OSU, a lot of people will egg you on to get the GT. If you want to get it, that's great. But if you're not sure if you can afford it, that means you probably shouldn't buy it. Even if you can afford it, that doesn't mean it's a smart financial decision.

Personally, I can afford the GT. But it's not worth it to me so I'm getting the V6.

I wrote this in a different thread, here it is:

Cost difference of a V6 vs. GT over life of car
Car itself: 4-5K depending on V6 options
Extra fuel consumption cost: 2.5K*
Insurance: 2.5K

Total difference in cost: 9K for two extra cylinders.

*fuel consumption was calculated using a total life of 150,000 miles. $2/gallon gas. 17MPG GT and 20MPG V6

 

then he should get a hybride civic...only extra 2 cyl from v6 ;p <sarcasm>


stop talking sensibly!

get the V10 from the selby and drop it in!

 

Ben, just my opinions here. And a different take than $$ and cents, though they must also be considered.

Life is short.

Buying almost any car is a money-losing proposition anyway. What you get out of almost all cars is not money; it's transportation, an expression of personality and fun.

Factor all that in too. If your finances (including insurance, fuel costs, etc) can support the GT, and you would really rather have the GT. . .

. . .get the GT.

Not to mention that with 5-speed and IUP listed on your V6 order, you are going to wait a LONG time anyway.

Life is short. You cannot take it with you. Get it (if you can) while you're here.

 

Father knows best!

 

Do you REALLY want a GT? It is worth it to you to make bigger payments/pay more interest in order to have the GT?

If you really don't care either way, get the V6 and have a little extra fun money each month. But if you REALLY want the GT and you can swing the payment, insurance, gas etc. get the GT. No sense in being miserable. That smaller car payment won't mean squat if you aren't happy with what you bought. Same goes for a larger car payment. If you don't think the GT is worth the extra money, you'll regret that decision too. It's all comes down to what you really want and what you are willing to pay for.

I've made the mistake of taking on a car payment that was too big because I *liked* a car. Then, after driving it around a couple of weeks, realized I didn't like it enough to pay $400 a month for it. Still regretting that one.

It's really something you have to decide on. Don't let anyone tell you what to buy based on THEIR preferences. Think about your situation and your preferences.

Hope this all makes sense.

Let us know what you decide.

 

thanks for the help guys. I think i'm goin to sleep on this decision, cause it is a big decision. I'll definelety keep yall informed!

 

Or.......you can get the V6, add a couple of mods to it, have as much horsepower as a 94-98 GT and have the new bodystyle without the big foglights in the grill. A couple of mods ($300-$600) or a few thousand for the jump to the GT. The money for the mods would come from the money you save on gas, insurance, and car payment.

 

I certainly would not tell you or anyone what to do ...but will say this:

If you can afford the GT but it is only by the "skin of your teeth" - have you thought about getting the V6 and having money left over to do what you want to it - making it yours? There are and will be alot of performance/appearance options to make it special to you.

 

I think the GT will hold it's value better and be a more enjoyable car to own. If you prefer the GT over the V6, and are even considering getting one, then you are probably not going to be happy with the V6. A couple of months after getting the V6, you'll wish you had gotten the GT.

 

Man, I am also waiting for the V6 manual, of course I would love to have the 8 who wouldn't, and an extra $4000 isn't even that much over 5 to 6 years, but man that would be a tight 5-6 years all things remaining the same.

Tough call.....I agree with those who say "If it's gonna be tough to make the payments, stick with the 6.

Worst comes to worst, get the 6, keep it for a few years, then buy a used 05 GT for like $10K....or maybe if things are going well, a new cobra. At least you won't be killing yourself for 5 to 6 years trying to make payments.

I wish I was well off like the GT owners here.....struggling stinks!

Oh well, at least I'll have a mustang......if they ever make the V6 manual..

 

It's funny how everyone is chirping in with their "after a month you'll wish you had gotten the GT".

I can do it, too. After buying the GT and the novelty of 300 HP wears off, you'll check your bank account and "you'll wish you had gotten the V6".

Look guys, I love the GT as much as anyone else. But read his first post! It's just not a good idea to spend more than you should on a car. You have to draw the line somewhere, OSU. There is absolutely no shame in saving a large sum of money and buying a less powerful car. The irony is that the V6 is 210 HP, which is very close to the power of the GTs from yesteryear. I guess people are spoiled these days, because to me 210HP is nothing to laugh at.

 

as of now i think i could comfortably afford the GT from what i have in savings (im 20 and have saved every penny i have ever made). But, when i graduate from school in a few years, i dont know what kind of job i'll have or anything like that. For most other students that have graduated already from my major, have found great jobs out of college. But, im not much of a gambler, and that's also why im still contimplating the v6 or the GT.

 

Shopping for my current car, I refused to test drive a Z28 'cause I knew I'd regret it if I then would buy the V6.

Don't just "scrape" by on the car. I'd say yes if it was a home loan, since the house does appreciate. But since a car doesn't, skimping by is harder to justify.

And I definately would not do a 72 month loan. Quick numbers using Ford's APR:
$25,000 Loan
60 Months @ 5.9% - $3,929.51 paid in interest - $482.16/mth
72 Months @ 7.9% - $6,472.02 paid in interest - $437.11/mth

You "save" $2,703 over the 60 months, but paid $2,542.51 in interest PLUS another $5,027.61 for the extra year's payments.

 

Out of curiousity what's your major, OSU?

 

Mechanical Engineering

 

No one here is going to be able to make that call for you. It all depends on how much you want the car, whether or not you could live with the V6 (which many can and many can't), what you intend to do with the car (daily cruiser the V6 should be fine), how you drive it (drive hard, you will want the V8), how much you are going to have to sacrifice to get the GT, etc., etc., etc.

If you can wait a year, you should easily be able to get a used GT for the price of a new V6. Might be the best of both worlds. But, that requires waiting. And, none of us like to do that.