What's up everyone, I'll try to make this short and sweet. Over the past couple month's I've been considering getting a new or another vehicle, and in particular I have been looking at the mustang but can't decide which one I want. Money is a factor because I want my payments to be a certain number and insurance as well.

I've noticed GT500's 07-09's versions are starting to dip into the mid 20's range which is the particular vehicle i have been interested in as well as the Cobra 03-04 but I believe it to be hard to finance a 8-9 year old vehicle even though they're still could be had for in the 20's if not slightly lower.

I'am not exactly sure which route to go due to the fact of insurance and car payment cost's please keep in mind that if needed be I would look into a GT or a 5.0 if they with in reasonable range of price wise of what I'am looking at. For anyone wanting to know I am 21 years old, I've had my original car since i was able to first drive, and I kinda want something new. But then again like i said iam not too sure.

Any suggestions is greatly appreciated.

 

Me personally, I would not get a GT500 with a lot of miles which if you find one in the 20's it is definitely well used and most likely abused besides that your insurance will be at its highest premium. As for a terminator these are highly sought after and not easy to find in great condition. Better off looking for a good used 5.0

 

Since cost is a big factor and I'm sure payments I would call your local insurance company and get a quote on a V8 GT, GT500, '03 Cobra and then a V6 mustang. you are going to be surprised how much the insurance is going to be a huge factor and can be more or close to the car payment. Might want to look at a V6 stang for awhile. good way to get onto the world of mustangs, have some reliable transportation and when you get older and the insurance drops make the move. just a thought.

 

No way in hell I'd be caught dead in a v6 mustang. I looked into a 03-04 Cobra and seems to be insurance would only be 70 bucks more from what i am paying now! But I was quoted 360 something for insurance on a GT500.

 

Just tossing it out there. I wouldn't either but there are alot of V6 owners on here so I thought maybe times have changed

 

Welcome to TMS!

Are you keeping your old car? I would reccommend doing so if you don't need to trade it because that would keep your insurance rate low on the mustang with a regular vehicle on the policy. Especially if you're planning on a GT, GT500, or Termi because those are considered "high risk" or unacceptable vehicles when insured by itself, but paired with a regular vehicle it allows the preferred rate to be applied to the mustang. I work for a large insurance company and would be happy to answer any questions you have, just send me a PM.

Oh and my personal reccommendation would be to find a used 5.0. You should be able to find some nicely loaded ones in the mid $20's once the 13's start popping up. Like the others said, a used gt500 or Termi for a good price probably has been used and abused.

 

Yes My current vehicle is paid off, and has all the luxuries I need for cruising etc, so If I were to look into a 5.0 I would want the basic model with the brembo brakes and 3.73 gears. I'am currently paying 210 a month right now for my current vehicle.

Not exactly sure how much more id be looking at in terms of how much my insurance would go up.

 

The key to getting a good rate at your age is good driving record(no tickets/accidents in 3 years), consistent insurance history (36 months continuous or more), and maximizing your discounts. Make sure your asking for every discount you can get, multi policy, homeowners, good student etc. Keep your car as a primary, add the mustang as a pleasure use vehicle or keep it around 7k miles annually to have a better rate. If you can bundle policies, even better. Even renters insurance, it'll save you 10-15% and in PA and they're like $100/year or less...unless you're in Philly.

 

I've been with my insurance company for quite some time, I branched off my mom's policy and have my own. I'am not in college so I wouldn't get a student discount. I don't own neither do i rent a home etc. I have zero accidents and tickets as well. knock on wood.

 

What is your monthly insurance quote for a GT500?

 

I would go for a 08-09 GT500. I'll probably upgrade to one of those eventually myself. But I would drive both of them and make the decision afterwards. There is a really big difference between the Terminator and Shelby as far as driving characteristics. After you drive both, you will decide which one you will buy.

 

360.

 

Is that both cars or just the mustang?

 

It's about what I would expect on the GT500 for a 21 year old and full coverage.

 

Just gt500, haven't checked for a GT yet, although I have checked for a 03-04 cobra and it would of came out to 270 alone just for one car, which i though was pretty good considering, i pay 210 now for one car.

 

Its certainly feasible, I just need to find a second job, which I have been doing, I make about 160-200 or so now, and that's for 20-25 hrs a week part time gig, looking for something with the same amount or more hrs so it would balance out to at least 400 or so every 2 weeks etc.

 

You don't want to work just for the car. You should try to keep it in 25-50% of your net income.

 

well thats nearly impossible at my age. so I'll have to do what i have to. I'd have to get something lesser then a mustang if it comes down to being 25-50% of my income.

 

Get a quote with your current car and the gt500 as a secondary on the same policy.

 

Matching my current coverage with the gt500 it would be 482 a month.it would 2589 in full, I'am currently paying 210 a month with it being 2068 a year!