lp heaven

45 here 3rd stang had a 66,67 an currently 12 boss
im a ford guy went through 3 explorers a 94 and 96 turbo t-birds and the current fam is a 09 edge with over 200K and 0 issues
back in the day i did sneak in a dodge stealth rt turbo
DD is a 03mitsu

phiggs54

Much better stats than car number 1, kid number 2, and wife number 4 (for those who are into statistics)

jerseygirl

No Mustang yet....24 with an 08 Ford Focus and praying for a Mustang one day ...still haven't lost hope after 5 years!

kylerohde

Not that many years would love to know what the two of you did to get those cars so early!

TheDivaDanielle

31. I'm gettin' old.

narphenal

2014 GT Premium Track Pack, purchased last November.

19 years old .

TheDivaDanielle

dunno how you kids do it nowadays, my 800+ mo/ car payment kills me and I have a decent paying job.

narphenal

Luckily I have an amazing job, and work quite a bit. Overtime pay always helps.

BadAzzMobile

800 a month? Dayuuumm! You drive a Shelby? You get a one year loan? Lmao.

I'm 21, I've worked two jobs since I graduated while going to school full time. Sucked but now I have an amazing job with the best benefits you can find, oh, and a 2013 gt

narphenal

Probably a 48 month note with a low or zero interest rate.

I have a longer term with a low interest rate and my payment is around $600 or so. I am, however, making $1,000 payments to cut down on the principal amount.

TheDivaDanielle

Shelby would have been over 1k a month (65k for an optioned vert the way i wanted it) and I'm feeling a little stretched as is, only because little things here and there, days off, vacation have hurt my bottom line in 2013. should be a non-issue in 2014, but i don't want to jump into a Shelby quite yet especially if my spouse will be getting a Mini Countryman at some point.

BadAzzMobile

My gt is welllll under 800 but, mine is a base model, with a bunch of aftermarket lmao.

I pay well over 1,000 each month, but in the back of my head I know I don't HAVE to pay that so it makes life so less stressful.

tukatz

Just a thought for those of you making larger than required car payments. If you are blessed with an auto loan with a really low interest rate (as in, below what you could earn on investments), you are better off taking that extra money and plowing it into your investments.

narphenal

Since I am financing through a Local CU, using people I know as examples, I am paying additional for a few reasons.

No. 1, because money is good right now, might as well sink I little extra in while I still can. If hours get cut back or something else happens, I can free up ~$400 a month without even noticing.

No. 2, my credit score is really good, but it could be much better. This is my first large item financed on my credit, and proving my ability to pay on the item will help my relationship with the credit union immensely

No3, partly tied into the previous, with a better score, I can get a much better interest rate, plus, If I get the principal paid down I can refinance it if something were to happen to free up more income.

No4, if in a few years, I decide I want another car, or another mustang, etc, I will have enough equity, or maybe even have it paid off, which will greatly help.

No5, I plan on financing my own home in a year or so. I'm already stashing away to have at least 10-20% down for when I go to get it, plus I can then refinance at a much better interest rate and lower my car payment drastically(if I need to for budgeting reasons, the option will always be open. Plus better credit never hurts.

Rather B.Blown

Seeing as how a Mustang isn't usually a commuter car like an Accord, etc. and tends to be a toy, why would anyone finance it unless they were getting an extremely low interest rate on it so they could use the money somewhere else?

For that matter, why would anyone take on car payments at all unless the interest rate was 0.9% or something so they could make money off of the cash in another place like I mentioned before.

Financing a car and paying interest on it is stupid unless you're in a position where that is the only option. And if that is the only option, a Mustang probably isn't the best car to be buying if your financial situation is that bad off.

TheDivaDanielle

why can't i finance a Mustang? So you're saying just because i can afford to finance a 60k car, i should finance a 25k accord even if i don't like or want it?

i wanted a Mustang, i had little for a downpayment, but i had a trade-in that was paid off.

It's my only car. I commute. it's already got over 30k on it, and I've only had it 18 months.

Why can't my fun car be my commuting/dd car, my toy/weekend car, and be my winter beater all in one?

In the end it's just a car.

By your logic, Buying a house and paying interest on it is just stupid. Guess next time we should save up half a million and just pay cash.

Rather B.Blown

.....

kcoTiger

You've been waiting 50 years to bring that one out, haven't you?

narphenal

Well, a few reasons. My work is only 5 or so miles away from the house, so gas mileage is negligible, financing a car will help build credit up so I can not only finance for extremely low interest rate, but also help build credit history so one can get better setup for buying a first house, etc. Lastly, because I can, and as long as it isn't hurting you, why do you even care.

I'm young, don't have a spouse or kid, and my financial decisions don't affect anyone but myself.

BadAzzMobile

Lmao this is one of the dumbest things I've heard. Don't buy a car unless you can buy it straight up cash?

For my interest I'm paying right over 2,000. To me, that's not bad.

Not many people can save up 45-60k just to get what they want. Besides, the way it is now, if you don't pay for interest rates, finance, get loans, exc. you will be behind. I'm only 21 and my credit score is higher than 87% of all credit karma users.