My 2006 Focus lease expires this summer. It is a fine car, but I don't want to buy it for what Ford wants. I'd be willing to pay between $3k and $4k. They want $7k. I'll have already paid almost 11k in lease payments, so there is no way I'm going to give them their price. That puts me in the position of needing to get a new car this spring.

I have two paths that I am debating.

1. Get a car that I like and keep it for ten+ years
   Choices
   • 2011 Mustang GT Premium
   • 2008-2009 Cadillac CTS
2. Get the cheapest car I can for now, then get a car I'll keep forever (probably a Shelby) in three or four years
   Choices
   • 2011 Fiesta
   • 2010 Fusion (lease)

To put it in perspective, I could go out and buy the Shelby right now, but I have other priorities. If I buy a car now, I need to keep it under $30k.

 

If the ultimate goal is getting a GT500 it would make sense to choose the least expensive and most reliable car now.

 

would they goto 5K?

 

don't wait untill the last minute to turn or trade your lease. Flip a coin as to which car you want to get.

 

Smart choice to not go brand new with the CTS. Their depreciation level is staggering, especially with the CTS V! In two years you can get one for significantly less than what the sticker was.

 

Find a used car, pay cash for it, then buy your GT500 with cash when you can afford it.

Imagine how much you can save when you don't have to pay that payment every month. Imagine how much interest you can earn on the money instead of losing on the payment.

I know it sounds crazy, but its the best option available.

 

You should buy my 2004 Mach1

 

I dunno, I worked my way up the ladder to the get my GT500, 91LX aside, I started with my 02GT- kept it in very nice shape, got my 07GT with the 02 in very nice shape, kept the 07 in very nice shape and traded it in with cash and now I've got my keeper.

 

Another option: have your cake and eat it too.

1. Find a 2005 or 2006 Mustang for a good price, have fun driving it for your three or four years. (Don't ignore used V6 Mustangs. If you're willing to drive a Fiesta or Fusion, you can drive a V6 Mustang.)
2. Save up!
3. When the time is right, buy the Shelby of your dreams.

 

Eventually, I want to have a Shelby in my garage. Buying the cheapest (reliable) car available makes a lot of sense. It's not a lot of fun, but it makes a lot of sense.

I agree that it is best to live debt free. However, I've always considered credit to be a necessarily evil for big ticket items like cars and houses. You make a good point about the interest. Compounded over 5 years, a 5% loan costs 13%. Over six years, the cost goes to 16%. Over 30 years (mortgage), the cost goes to 93% (ouch).

The used v6 is a good bargain- I see them for around $10k on autotrader. The GTs are around 15k, which is only a few thousand dollars (and a couple horsepower) less than what I can get a brand new 2011 V6 for (A-Plan).

Neither Ford nor the dealership is willing to budge on the price of the Focus- not surprising, since the quoted price is basically blue book value.
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Thanks for the great suggestions, everyone. I still haven't made up my mind. I love the new 302 and I can easily afford it while managing my other priorities. It looks strong enough to keep me happy while I work towards the Shelby, and I won't feel bad about putting miles on it like I would the Shelby. I still like the CTS. In my opinion, it is the best Cadillac since the 1960s. But, the reliability is suspect.

On the other hand, I might just buy a Fiesta or lease a Fusion and put the couple hundred I'll save towards my next ride.

Whatever I decide, I'll post it here.

 

Just buy a good condition SN95 . . . . Try to find a stock Cobra (the majority of these cars were GARAGE QUEENS so you can use them as daily commuters for years!) I just bought an 01 Bullitt for $10500 (46K Miles). Since I am not completely loaded, this is going to be my commuter car, but the last owner put 3K miles on it in the last 3 years. That said watch out for old SN95 which have been driven hard. Good luck . . . . . My recommendation . . .. .an 04 Cobra with 20K . . . .. you should be able to find one for $21K.

 

http://cgi.ebay.com/ebaymotors/1994-...ht_52982wt_806

Buy that for 2K, drive it to 120K, then get the Shelby.

Easiest decision in your shoes I'd make. That V6/auto is good for 120K, I have proof... the HoopTBird made it to 140k.

Of course, whatever $2k car you wanted would be fine, I just put that one up for an example. The 3K you save should cover a couple of major problems *if* they show up... at the 140K mark, the HoopTBird decided it wanted cats, freeze plugs, injectors, plugs... it was great...

But until then? Dang thing just kept on runnin'. Think it needed an alternator at 100K. The original battery that it came with when I bought it left with it when I got Awesome. That, my friends, was an 11 year old Motorcraft and it was *still* good to go.

Anyway. Just an idea.

 

My bet is that it would run well past 120k. I had a Thunderbird. I bought it in 1995 with 60k, and traded it in 2000 (still running) with 190k on it. During that time, I replaced wheel bearings, changed the oil, fixed one of the power window brackets, and nothing else. Mine even had 4 wheel discs with ABS. It wasn't very sporty, and it wasn't very fast; but it did what I needed at the time very, very well.

I guess my problem is that I am not good at waiting, combined with the fact that I've been waiting for four years to get a car that I actually want to drive.
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I've added another possibility to my list: a used 2007 or 2008 GT500. I see them online for around 35k with under 1,000 miles. I could buy one, drive it for a few years, then sell it and get a new Shelby. Or maybe I'll just keep it. Either way, a used GT500 will hold its value way better than a new GT- lowering the overall cost of ownership. Looking at the total costs and resale value, it may be the cheapest option and allow me to have my cake and eat it, too.

 

[quote=coffeejolts;5787129

Neither Ford nor the dealership is willing to budge on the price of the Focus- not surprising, since the quoted price is basically blue book value.
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[/quote]

Hey guys, if its a Ford Credit Red Carpet Lease, the buyout of a lease is non-negotiable. Whatever is on the contract is the buyout you have to pay. The only leases that offer buyouts that are negotiable were bank leases and most banks do not lease cars anymore.

 

Thanks. It's good to know that they weren't pulling my leg on that. It seemed incredible to me that they would stick to their price on a stripped down last gen Focus.

 

Dont waste any time and choose 2008-2009 Cadillac CTS. I really like that car. All the best.