You could be stuck having to buy a car in Canada where I could easily pay over $48k for a GT. Heck, my 2005 GT cost me 45k after X-Plan. I recently priced a 2012 Boss with the add-ons I want and I was just shy of 80k. eeeeeeek.

 

So the reality of it is that you didn't check the price on the contract and therefore lost about $1288.
Really it could have been much worse.
Expensive lesson though.

 

He sent me the VIN and here is the window sticker for the car he purchased...

FWIW, Invoice on the car is $35,253.57

WindowSticker.pdf

 

My last few cars I bout used one year old with low miles and let someone else tale the hit not for everyone but it has worked well for me getting "new" cars and saving money.

 

Ignore the total payments. We all know that's an ugly number on any loan. Besides that 48k is in 2011 dollars. After a few years of inflation you are actually paying it off with cheaper and cheaper dollars.

Looks to me like you paid an average price for the GT, got a decent trade in amount, but then You paid for a lot of extra's plus sales tax and fees so it ran the total back up.

Heck many credit unions are offering 2.5 - 3.9. Since the ink is still fresh go shop the loan over the next few days. (I did this last year and got a 3.24 for 84 mos!) Then maybe you can drop some of the extras and refi a lower balance.

PS: Nice Mustang!

 

Dang that's a long loan I hate to pay on a car when it's out of warranty. There's nothing worse than making a car payment on top of mechanic bills. I guess if I did a 7-year I'd buy the extended warranty online as it's probably less than a thousand bucks.

 

What I wanna know is who the 600 dollar warranty is through and what are the terms. Does this include the associated taxes. You generally get what you pay for although there is definitely some negotiation. I bought one for my wife at cost (Ford Warranty) and it ran 1100. Thats premium care with a 100 dollar deductible for 7 years 100k miles. I work for a credit union and we couldn't sell it for that. Make sure to check the Insurance Companies rating before plunking down the money.

Roger

 

In looking at your breakdown scan versus what you originally posted, it's really not that bad. You didn't get a good deal, but you didn't get completely hosed if you consider your trade and all the extras. I've had friends and relatives that have done what you've done and they're okay with it. Just enjoy your awesome new car!

 

http://www.fordwarrantys.com

They are genuine Ford ESP warranties. Prices seem to have gone up a bit though.

 

Thanks guys. I've already put 100 miles in 24 hours lol. I'm loving the ride and don't feel as remorseful as before about the purchase. Now I'm looking into getting a clearcoat to keep that sexy lava red going strong.

 

Huh? It already has clearcoat from the factory. Just wax it with synthetic sealant every 3-6 months and it'll look great for years to come. There's no need to clearcoat over clearcoat. It'll never be factory quality and it'll probably just start chipping after a few years.

 

How old are you bro? (OP)

Get "blackfire wet diamond " as your sealant; It's online. Or "liquid glass" which is in parts stores. Blackfire is the latest greatest thing. Liquid glass has been around many years but proven and reminds me of blackfire in it's application and quality.

This is my car last weekend after blackfire wet diamond treatment.

 

lol I'll take all the 3.24% money they'll give me and stretch it out as long as possible.

 

 

+1

You didn't mention, so for other readers... Blackfire is much friendlier with black trim. I even use it on the factory vinyl stripes. I've seen numerous posts from people complaining that Liquid Glass stains their trim and they can't get it off.

 

Yeah, I did a quick quote. For the same coverage that I purhased through a dealer it would have cost me 2285.00 through that site. Thanks for sending the link though, I am all about saving money.

Roger

 

I'm 23 this will be the first car I own that has paint worth saving =P. I'll need someone to show me how to apply that sealant.

 

Sealants are generally easy.
Just carefully read the instructions that come with the one you choose.

 

dunarze

Congrats on the Stang!
As others have said, do your research before the sale--Edmonds, KBB, etc, for Invoice/MSRP and incentives. Then keep track of the dealer's numbers. Trade ins that are not paid off add a bit to the complexity, but its doable. Don't sign until you understand the numbers.
I've bought two 2010 vehicles in the last year--my '10 Stang last fall, and a '10 Malibu about a year ago as the family car. Both times I went to the dealer with my laptop and an Excel file showing every available option and the Invoice and MSRP prices for every item. Made the next colum for the actual car--invoice for the car I was working with, plus amount above invoice, minus rebates, minus trade, plus "document fees" (what BS that is), tags/title/tax (I called the county office to know how thats calculated), etc. Then have Excel calculate the loan payment based on your "to boot" price, interest and number of months.
It all needs to add up. If not, don't sign, and ask them to explain it. Neither dealer was offended at all when I opened my laptop. I simply said I'm detail orientated, and want to understand the deal. Say it nice, and they don't mind. If they do mind, they may be trying to pull a fast one on you.
I don't do extended warrantees, etc, either. Did it once 20 years ago, kept the car for 9 years, and only used the warrenty once. Put the warrentee fee in the bank yourself as your own "insurance".
Enjoy the Stang!

 

Congrats on the awesome car. Not the worst deal I have heard of by a long shot. But all us future buyers can learn from your experience.

Did you use the financing they offered? That may have brought down the fees mentioned ($55 sounds good). The dealers like it when you use their financing.

You can always go to a credit union like Cdynaco said and refi immediately, or later. Safe 1 is a national credit union that takes anybody - they are offering 2.99% for 84 months (if you sign up for automatic payments it is 2.99 ~ 3.24 if you send in your payment monthly).

Cheap money is out there. I just refinanced a 2005 car @ 2.99% with a local credit union. There are generally no fees. Mortgage refis are different - lots of fees.