Trade in or keep?
6/6/13, 02:28 PM
#21
Depending how much you still owe and how much you have saved you may be better served with paying it off early and just go without a car note entirely. Having no monthly payment but just having to spring $50-70 a week for fuel and $40-60 a month for insurance ($240-350 a month total) goes a lot further then having a $200 a monthly car payment, $30 a week for fuel and $40-60 for insurance ($360-380) especially since you won't own it because you are financing it and starting over with a new loan term. Of course these figures I use are just estimates but this is the math you need to do. You need to calculate your current MPG and how much you would spend to get to school weekly vs what a new car would get MPG wise and how much it would cost you weekly there. Not to mention insurance currently vs insurance with a new vehicle and of course lastly what you current payment is vs you projected new payment would be on a new vehicle. So it is highly dependent on what you are looking to trade your mustang in for. BTW as a professional in the medical field absolutely don't curse yourself by getting a family to early in life. Meaning if you are making good money don't get married or have any kids for at least 3 years after you become a professional. Pay down those loans and get out from underneath the financial cliff education puts you under. I speak from experience on this one as my wife (Registered Nurse) and myself (MS ATC) can attest to.
Last edited by 05gtowner; 6/6/13 at 02:38 PM.
6/7/13, 02:21 PM
#22
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Depending how much you still owe and how much you have saved you may be better served with paying it off early and just go without a car note entirely. Having no monthly payment but just having to spring $50-70 a week for fuel and $40-60 a month for insurance ($240-350 a month total) goes a lot further then having a $200 a monthly car payment, $30 a week for fuel and $40-60 for insurance ($360-380) especially since you won't own it because you are financing it and starting over with a new loan term. Of course these figures I use are just estimates but this is the math you need to do. You need to calculate your current MPG and how much you would spend to get to school weekly vs what a new car would get MPG wise and how much it would cost you weekly there. Not to mention insurance currently vs insurance with a new vehicle and of course lastly what you current payment is vs you projected new payment would be on a new vehicle. So it is highly dependent on what you are looking to trade your mustang in for. BTW as a professional in the medical field absolutely don't curse yourself by getting a family to early in life. Meaning if you are making good money don't get married or have any kids for at least 3 years after you become a professional. Pay down those loans and get out from underneath the financial cliff education puts you under. I speak from experience on this one as my wife (Registered Nurse) and myself (MS ATC) can attest to.
6/7/13, 02:50 PM
#23
Banned
HOLD THE **** UP. Son we have bigger problems than we thought. DO NOT, I REPEAT DO NOT SUCCUMB TO THAT BULL****. It's a perverted trick buddy. You're 21. I went through that same ****. Left that ***** in the dust after 5 years and will never look back. A year and a half later I'm with an awesome girl and she's knocked up by her rebound. Next thing you know she's not happy and you're mailing her $700 a month. I'm trying to save your life. Don't make me say I told you so.
6/7/13, 02:56 PM
#24
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HOLD THE **** UP. Son we have bigger problems than we thought. DO NOT, I REPEAT DO NOT SUCCUMB TO THAT BULL****. It's a perverted trick buddy. You're 21. I went through that same ****. Left that ***** in the dust after 5 years and will never look back. A year and a half later I'm with an awesome girl and she's knocked up by her rebound. Next thing you know she's not happy and you're mailing her $700 a month. I'm trying to save your life. Don't make me say I told you so.
6/7/13, 03:13 PM
#25
Banned
Haha no I appreciate that. She actually wants me to keep my mustang! But Dont worry man, I'm not jumping into her schedule. School and getting a comfortable career is all that's on my mind. I keep telling her that but she has these "family" goals she wants by certain years. I tell her financial stability is what needs to be met first.
Last edited by muscledom; 6/7/13 at 03:20 PM.
6/7/13, 05:31 PM
#30
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As long as you can afford the car and it does not interfere with your schooling, I'd say hold on to it.
However, When I was starting my masters, I bought a Toyota Carolla and left my S281 in my brother in laws shed. It costs too much to insure, was not practical in size, and drank gas. In addition, it was a flashy target to get stolen or become academic distraction. The 281 was paid for but the Toyota payment was like 200. Very cheap.
I'd also check into getting a kick around car if you are not in the negative. Concentrate on school, stress free, saving gas and money. Whoever thinks 45 minutes is a commute that won't add up is silly. I had to say it. Remember, your mustang is also at the age where something might need repairing. Four years of school is a long time.
There's no shame in driving a stress free kick around car as you concentrate on school and save for the next generation mustangs.
However, When I was starting my masters, I bought a Toyota Carolla and left my S281 in my brother in laws shed. It costs too much to insure, was not practical in size, and drank gas. In addition, it was a flashy target to get stolen or become academic distraction. The 281 was paid for but the Toyota payment was like 200. Very cheap.
I'd also check into getting a kick around car if you are not in the negative. Concentrate on school, stress free, saving gas and money. Whoever thinks 45 minutes is a commute that won't add up is silly. I had to say it. Remember, your mustang is also at the age where something might need repairing. Four years of school is a long time.
There's no shame in driving a stress free kick around car as you concentrate on school and save for the next generation mustangs.
6/7/13, 05:50 PM
#31
Tasca Super Boss 429 Member
HOLD THE **** UP. Son we have bigger problems than we thought. DO NOT, I REPEAT DO NOT SUCCUMB TO THAT BULL****. It's a perverted trick buddy. You're 21. I went through that same ****. Left that ***** in the dust after 5 years and will never look back. A year and a half later I'm with an awesome girl and she's knocked up by her rebound. Next thing you know she's not happy and you're mailing her $700 a month. I'm trying to save your life. Don't make me say I told you so.
Take it from someone who knows. Should any person tell you this, they are simply trying to manipulate you.
RUN!
My ex even made me feel guilty about getting additional degrees. She claimed I was narcissistic when really I just wanted to have a good job to support a family. Yes, she wanted that too!
Guess what?! Kids cost a lot of money! Alot more than Mustangs! In my case, cars, kids, or college, I'm still footing the bill. Lord knows she won't. At least she's gone.
End of rant
6/7/13, 06:01 PM
#32
Banned
As silly as this sounds at first, there's actually some truth to it. I went through the "you love your car more than me, so you should sell it spiel." Truth.
Take it from someone who knows. Should any person tell you this, they are simply trying to manipulate you.
RUN!
My ex even made me feel guilty about getting additional degrees. She claimed I was narcissistic when really I just wanted to have a good job to support a family. Yes, she wanted that too!
Guess what?! Kids cost a lot of money! Alot more than Mustangs! In my case, cars, kids, or college, I'm still footing the bill. Lord knows she won't. At least she's gone.
End of rant
6/7/13, 09:56 PM
#33
I hate to be the stick in the mud about your gf but she WILL try to get you to conform by getting pregnant by "accident". We are all telling you this because we have been where you are. You probably would be better served to set her free and focus on school and your future. Forget the mustang stuff for now and deal with your bigger problem, this gf wanting to get pregnant.
6/7/13, 10:40 PM
#34
Banned
I hate to be the stick in the mud about your gf but she WILL try to get you to conform by getting pregnant by "accident". We are all telling you this because we have been where you are. You probably would be better served to set her free and focus on school and your future. Forget the mustang stuff for now and deal with your bigger problem, this gf wanting to get pregnant.
6/8/13, 05:28 AM
#35
Gotta Have it Green Fanatic Official TMS Travel Guide
Make that 4. Lord knows how many wives have had their husbands get rid of their cars. They actually get jealous of the car!! Others just get b****y. If you don't meet and marry a 'car girl' kiss your automotive life away. Seen it far too many times. I lucked out, as you can see by the 3 cars I own, and we will be celebrating our 36th anniversary in two weeks. By the way, we are going to a car show together today.
6/8/13, 06:49 AM
#36
Mach 1 Member
Simple. Trade in if the budget allows otherwise keep it. I just traded mine in recently because it was a great deal on the trade as well as a great deal on buying a new one. So overall my payments were the same as before and the insurance went down actually. It was a win win situation. Plus I got into a new car out of it.
6/8/13, 10:03 AM
#37
Legacy TMS Member
I didn't read the whole thread, but my gf and I have been fighting all week. We went to the Good Guys show last Sunday and had a blast - she was a trooper and enjoyed checking out the cars with me. Monday rolls along, and she comes over to hang out. An old flame of mine texts me (because my old best friend from college is bugging her on Facebook - he's in the police academy and since he and I haven't been talking, he's obviously trying to get my attention by doing this), current gf sees her name pop up and gets pissed off. So we've been snapping on each other all week, and then last night when I think I finally have it fixed, she sends me this...
I replied, don't be silly dear, it's just a Camaro...
Definitely did not help my cause.
OP, keep your GT and get a Fiesta ST to daily drive to school! Problem solved.
I replied, don't be silly dear, it's just a Camaro...
Definitely did not help my cause.
OP, keep your GT and get a Fiesta ST to daily drive to school! Problem solved.
6/8/13, 10:16 AM
#38
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hahah you guys are awesome. My gf WANTS me to keep my mustang! Which is very surprising. She thinks its hot that I drive it lol She's the one who bought my gt500 stripes for me, so now she's into modding my car. But I'm watching what I do and keeping her aware of the situation.
Anyway, I think the only way I'll get rid of my mustang is if I can trade it privately and get good money for it. Make a little profit and get a car with a low payment. Laserred, I wish I could! But if I could do that, I probably wouldn't even be worrying about money lol
Anyway, I think the only way I'll get rid of my mustang is if I can trade it privately and get good money for it. Make a little profit and get a car with a low payment. Laserred, I wish I could! But if I could do that, I probably wouldn't even be worrying about money lol
Last edited by tu3218; 6/8/13 at 10:20 AM.
6/8/13, 10:37 AM
#39
Legacy TMS Member
hahah you guys are awesome. My gf WANTS me to keep my mustang! Which is very surprising. She thinks its hot that I drive it lol She's the one who bought my gt500 stripes for me, so now she's into modding my car. But I'm watching what I do and keeping her aware of the situation.
Anyway, I think the only way I'll get rid of my mustang is if I can trade it privately and get good money for it. Make a little profit and get a car with a low payment. Laserred, I wish I could! But if I could do that, I probably wouldn't even be worrying about money lol
Anyway, I think the only way I'll get rid of my mustang is if I can trade it privately and get good money for it. Make a little profit and get a car with a low payment. Laserred, I wish I could! But if I could do that, I probably wouldn't even be worrying about money lol
6/10/13, 09:38 AM
#40
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If you are looking to trade you should look into the Hyundai Sonata Turbo they are surprisingly powerful and ridiculously comfortable and you get better mileage than a Mustang although its not a stick but you get paddles which are pretty fun to drive with. I work at a Hyundai dealer so I drive them a lot. I thought about trading my 06 GT for one but I'm gonna keep it for awhile
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