Well, I'm coming up on the end of 3 great years with my 05 GT. I can't say it's been my favorite car of all time (that would go to the heavily modded 90GT I'd still have if it wasn't smahed.. but that's another story) but it's by far the best driving and most reliable car I've ever owned. I have been really happy with this car and it still puts the same smile on my face as it did the day I picked it up- February 7 2005... Sure, it has its rattles and what-not, but come on... it's a Mustang. They all do that. The good far outweighs the bad.

But now I'm faced with the end of the warranty, and I don't like unexpected costs. I didn't buy the extended warranty and she could use some new tires (still has the original ones.) So if I keep it I'll have to drop a few grand on tires and a warranty. On the other hand, if I sell it I know I'll just go buy a new one. I only owe 18 more payments, and it would be nice to have something paid off for once... Then I checked the Blue Book on her today and was surprised to see she's still worth over $20k (Private Party.) I got a great deal on the car new, so that's a LOT more than I owe. Plus I do like some of the newer options like heated seats, GT/CS, HID's, etc... I wish I could keep it AND get a new one, but you can't keep 'em all.

Decisions suck!

So what do you guys think? Should I bail and order an 08 or just keep the 05? I can't make up my mind!

 

I think it would be cheaper to keep your Mustang and get extended warranty than to sell your Mustang and buy new one.

How many miles does your have?

 

It has every option except the "upgrade" wheels. It has 35k and is in perfect condition. (mostly garaged)

 

If you pay off the car, you can save the monthly payments you no longer are paying to pay for the "unexpected".

Or a blower

If it was a new body style, I say get the new car. But, since it is essentially the same car you have now -- I would pay it off first. It gives you more options later.

 

you don't need no stinkin extended warranty. Wait for the new body style.

 

Everyone has their own ideas when it comes to how long to keep their cars, warranties and loans but since you asked - I would keep the car, in 18 months it will be free and clear and you can get a new model Stang. Just my thoughts but I never buy extended warranties. Of course, my 05's warranty runs out this month and I've had the blower on it for almost 2 years,

 

Wait for the late 09/10 model... no use paying a premium for what is essentially still the same car with different options.

 

Thats the same siutation I was in , in October. I actually went past warranty. And I knew it was the time to sell, since I got my car over 3 years ago at X plan, at that point, what they wanted to give me for my car was about 9k higher then what I owed. I decided if I didnt sell now I never would. So I took that 9k, and I decided to upgrade to a Shelby GT and couldnt be happier.

 

Keep it! It puts the same smile on your face that it did three years ago and it is almost paid for. You don't need the extended warranty it is a scam. If they really thought that they would lose money on the deal they wouldn't offer it. Odds are that you will spend more on the warranty than you would get out of it. Even one mod would be enough for them to weasel out of a claim too! The 08 car is exactly the same car that you have now save for a few extra trinkets that they threw in. You should pay off your car save your money and get ready for any new and improved one with better engines in the future!

 

I would keep the car you have and pay it off. You seem to still really like your car and it has low KM and is in great shape.There is not alot of difference to an 08. Also I would not bother with extended warranty...Use the money for some upgrades???

 

keep it and in 18 mos buy a challenger!!!
rt or srt if you can find and afford one

 

Keep the 05'.Wait for the new Mustang body change(if there is one) in 2009-10.Then make a change or keep the 05' and buy the newer model.Two Stangs in the barn is really cool.

 

Few grand on tires? Lol, I spent about 800 on my BFGs and a set of Michelins were maybe 400 more (they only have all-season tires in the 255/45R18 - I'm hoping at some point there will be PS2s in that size!)

 

For tires, replace with the stockers and you will spend about $400. I wouldn't worry about an extended warranty. If nothing major has gone wrong so far, chances are nothing major will. Realistically, you probably won't have any major drivetrain trouble. Most other small problems can be handled without a dealer visit...either on your own or a shop of your choice that would charge significantly less than a dealer.

 

I purchased my mustang pre-owned, because with the upgrades I had planned it was the best way to save some hard earned green backs.

As is was used (which yours is now) I asked my local dealer for a price on a warranty....then I went to the same place my brother did...

http://www.fordwarrantys.com/

At this site I found choices and prices that were so low, and so cheap that I saved A LOT OF MONEY! Yes...A REAL LOT!

I purchased the best plan available, $50 deduct and went 7 years....and
since I am out of the state they sell them, NO sales tax...which my local
dealer was obligated to collect.

It is a dealership who does hundreds of warranties at a shot so they set up the web site and keep profits low to turn volumn sales.

IF...you decide to keep the car, a ford warranty is an option as tires and warranty will cost less than trading up.

You keep the car you like until the time comes to get the car you WANT!

Good luck!

 

see what the 2010's look like and then decide and maybe sell for one of those

 

You can still by the extended warranty for it. I would keep the 2005 Mustang GT.
FordESP.ca - Discounted genuine Ford extended warranties available online. This is the Canadian site but I am sure there is a similar one in the USA.

 

when i bought my car i asked for a price without the warranty (yes, im pretty brave). i knew that day one i would be modding the car up and it would be too far gone in a short amount of time to return to stock everytime i needed to go to the dealer for a repair. to date, never had to take it back for anything ,although they said that i had to have the 3yr/36,000 warranty because thats included in the price. either upgrade (ie saleen, roush, gt500) or keep what you have or you will kick yourself in the @ss later

 

Depending on your state, the sales tax/registration fees alone on a new car may be enough to pay for an extended warranty!

And even if you didn't extend your warranty, would you really prefer to make a car payment EVERY MONTH for another three years vs. the occasional "unexpected" cost of a repair?

To me, the 08 just isn't different enough that I'd trade an 05 that's getting close to being paid off.

 

Keep the car and wait on the 2010.