Might sell my '12 5.0 Premium
8/22/11, 03:50 PM
#21
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I like the Cougar idea...lol
however, i would also say just learn from this experience and keep the car...
you have received some pretty good advice in this thread (i.e. making payments sooner)
enjoy the car and consider it a blessing!
however, i would also say just learn from this experience and keep the car...
you have received some pretty good advice in this thread (i.e. making payments sooner)
enjoy the car and consider it a blessing!
8/22/11, 04:07 PM
#22
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My credit on fcr.com is listed at 765+- I'm 23 living in SF California. I like the cougar idea lol. I am a carpenter so maybe I can work as a handyman for a rich cougar and get picked up lol!!
I'm not going to lie, the car is a blast to drive so atleast I'm getting some enjoyment out of it.
I'm not going to lie, the car is a blast to drive so atleast I'm getting some enjoyment out of it.
8/22/11, 08:20 PM
#28
Cobra Member
**** bro, how'd you do that? I paid 28,900 and financed 15k at 2.2%. Nevertheless, if you don't mind screwing your credit a few years call the bank and tell them to come pick it up. Before that gets reported to the CB you can already have your own place etc. Then just start saving for the next Gen mustang. By then your credit will be ok (not good but ok). Just have a credit card or something that you pay off every month that will help your credit score against that hit. Id turn the darn thing in and start over.
8/22/11, 08:26 PM
#29
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Loose the dog before the inevitable vet bills come. Get a second job.....if you can find one.....Double pay every month on the 5.0 and pay it off asap.
8/23/11, 07:37 PM
#32
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Well dont beat yourself up about it. People do this all the time. It is so easy to get sucked into buying something that you dont need (esp. a brand new ride) without fully considering your long term goals. Even if you decide to dump it and take the financial hit, you are young, you'll recover and this is a good lesson. It is all up to you and what you need to do to accomplish your goals.
8/25/11, 10:41 PM
#33
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**** bro, how'd you do that? I paid 28,900 and financed 15k at 2.2%. Nevertheless, if you don't mind screwing your credit a few years call the bank and tell them to come pick it up. Before that gets reported to the CB you can already have your own place etc. Then just start saving for the next Gen mustang. By then your credit will be ok (not good but ok). Just have a credit card or something that you pay off every month that will help your credit score against that hit. Id turn the darn thing in and start over.
8/26/11, 10:38 AM
#34
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What kind of career change are you doing? I live in SF bay area and possibly looking for a roommate...as long as you let me drive it once or twice 
8/26/11, 02:43 PM
#35
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The OP will likely get about $30K max on trade-in. That $14K inquity cannot simply be added to a $14K Fiesta as that would leave a $28K loan. No bank in their right mind will loan 200% of the value of a car. It will take a bunch of cash down to trade in the '12. It will take a bunch of cash to sell it privately to provide a clear title. So, my advice is to keep the '12 for 3+ years until the OP isn't so terribly upside down in the deal.
Really. Youv'e already pulled the trigger. You'll lose so much on the trade. I understand if you're overextended, but you say you're not. Keep it if you can... it's the smartest thing financially. Plus, driving a Gt doesn't suck.
8/27/11, 01:17 AM
#36
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I feel bad for you guys thinking these cars are going to last 40 years. You do realize the electronics in them probably won't last 15 years right? They aren't built like they used to be. If I were to buy a current anything other than a Boss, I wouldn't even think about long term value. I'd drive the **** out of it until a new model came out and I could afford that one.
8/27/11, 02:35 AM
#37
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I'm with you on that. I would never give up my dog. That freaking car can go to hell in a hand basket but the dog stays.
Just keep making the payments and keep looking for a buyer. Post it for sale everyplace you can. You might get lucky, never know til you try.
Just keep making the payments and keep looking for a buyer. Post it for sale everyplace you can. You might get lucky, never know til you try.
8/27/11, 12:19 PM
#38
Tasca Super Boss 429 Member
I feel bad for you guys thinking these cars are going to last 40 years. You do realize the electronics in them probably won't last 15 years right? They aren't built like they used to be. If I were to buy a current anything other than a Boss, I wouldn't even think about long term value. I'd drive the **** out of it until a new model came out and I could afford that one.
I know the electronics will last more than 15 years.
Maybe not every single car, but most.
All the fancy electronics and OBDII in our 95 Lincoln are working just fine, thank you.
BTW my 2006 Vista Blue will still be on the road in 35 years, even if I'm not.
8/27/11, 12:42 PM
#39
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Like there won't be plenty of aftermarket parts with all the Mustangs on the road. He must be referring to the EMP that's coming just before the end of the world in 2012.
.
8/27/11, 02:35 PM
#40
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For what I ultimately spent on by now to end up with my '12 GT coupe, I could have had a GT500 for $3k to $4k more. But life keeps moving forward.
How was I such an idiot? Started out not too bad: Bought a $41,175 MSRP 2011 GT 'vert 6MT for $37,100 after X-Plan/coupon/etc in June 2010. Taxes/title/etc brought it to $38,500-ish OTD.
Then a month later I got to drive a 2010 coupe overnight & realized THAT's what I should have bought! (long story why, so don't worry about why) Could have jumped to a new 2011 Kona Blue coupe/brembo for $1600 extra 1-1/2 months after I bought my car, but I stayed the course. Then after my physical setbacks early this year (long story) I decided to trade in my 6MT 2011 'vert on a 6AT 2012 coupe.
In late May 2011, with 8600 miles on the clock, car in beautiful condition, I was only offered $27K by a Richmond Ford dealer for my '11 vert. CarMax would only offer $24K (no wonder Wall St. loves Carmax!). But my local dealer (from whom I bought my 2011) stuck by their $30k trade offer, so I ordered the '12 thru them. I ended up selling the 2011 'vert outright for $31,500 in early June 2011.
Paid abt $33,300 for my 2012 GT 6AT Premium coupe ($37,100-ish MSRP) after X-Plan/Coupons/etc; $34,900 out-the-door with TTL.
So if you add what I lost on my '11 vert ($38,500 minus $31,500 = $7k) and add that to my '12 coupe cost, you get: $34,900 plus $7k = $41,900 (includes all taxes). When you figure a GT500 is in the $44K's with X-Plan, I was not far off from a GT500. Still I think I did OK on pricing/deals. Paid cash for the 2012, so financing was not a factor.
Then again, I got 8600 miles of enjoyment out of my '11 GT 'vert, so I have that goin' for me.
Plus my wife is happier now (she likes the GB color & 6AT trans), and that is...PRICELESS! Like I said - life goes on and mistakes will be made - just try to LEARN from them! (as if I did in turning right around and buying a 2012!)
How was I such an idiot? Started out not too bad: Bought a $41,175 MSRP 2011 GT 'vert 6MT for $37,100 after X-Plan/coupon/etc in June 2010. Taxes/title/etc brought it to $38,500-ish OTD.
Then a month later I got to drive a 2010 coupe overnight & realized THAT's what I should have bought! (long story why, so don't worry about why) Could have jumped to a new 2011 Kona Blue coupe/brembo for $1600 extra 1-1/2 months after I bought my car, but I stayed the course. Then after my physical setbacks early this year (long story) I decided to trade in my 6MT 2011 'vert on a 6AT 2012 coupe.
In late May 2011, with 8600 miles on the clock, car in beautiful condition, I was only offered $27K by a Richmond Ford dealer for my '11 vert. CarMax would only offer $24K (no wonder Wall St. loves Carmax!). But my local dealer (from whom I bought my 2011) stuck by their $30k trade offer, so I ordered the '12 thru them. I ended up selling the 2011 'vert outright for $31,500 in early June 2011.
Paid abt $33,300 for my 2012 GT 6AT Premium coupe ($37,100-ish MSRP) after X-Plan/Coupons/etc; $34,900 out-the-door with TTL.
So if you add what I lost on my '11 vert ($38,500 minus $31,500 = $7k) and add that to my '12 coupe cost, you get: $34,900 plus $7k = $41,900 (includes all taxes). When you figure a GT500 is in the $44K's with X-Plan, I was not far off from a GT500. Still I think I did OK on pricing/deals. Paid cash for the 2012, so financing was not a factor.
Then again, I got 8600 miles of enjoyment out of my '11 GT 'vert, so I have that goin' for me.
Plus my wife is happier now (she likes the GB color & 6AT trans), and that is...PRICELESS! Like I said - life goes on and mistakes will be made - just try to LEARN from them! (as if I did in turning right around and buying a 2012!)