Hello all. I have a question for everyone out there. I would like to hear your suggestions to see what they would suggest I do. This may be for more of a "same-frame-of-mind" crowd, but I invite everyone to put there two cents in. Please bare with me in my explanation of my situation first and then shoot me any suggestions or comments that you have.

So, here's the background. I have been a Mustang fan for YEARS! I have had five different Mustangs in my lifetime so far. Four of them have been GTs with the latest being a 2008 Shelby GT500. I have never owned a V6, but I have driven several. My current Shelby has been owned for about 5 months. When I bought it I had no intentions of buying a ring in the near future or any plans for a wedding and eventually a house. At that point, I was just happy with having a girlfriend and putting a pretty hefty payment into my GT500. Now, things are looking different for me. I started to think about my future A LOT more now. I don't want to sink a ton of money in a payment for a Mustang and I want to be able to buy small upgrades here and there when I want without have to break the bank. I love the V8 sound and I don't think I could convince myself to get a V6. It's not that they aren't nice, especially with the new ones coming out; it's just that I KNOW I wouldn't have a V8 and that really makes a Mustang a Mustang in my mind.

Now that I am thinking about my future more, I would like to get my payments cut back, but still have a Mustang. I don’t NEED a ton of horsepower. The GT500 I have now has too much for me as it is. I am mostly doing commutes back and forth to work in stop and go traffic with the occasional drive around town. Even when having an open on-ramp to actually open it up, the gap closes before I get into 3rd gear, lol. This thing is a beast and I love it, but I don’t NEED it nor do I need the payment. I would love to be able to take it out of town on road trips, but it’s not the quietest car out there nor is it as comfortable for long trips.

I love the S197 look, but at the same time, the new S197 design is really starting to grow on me. I love the interior much more and the overall styling is pretty sweet. The only thing that is iffy, is of course, the rear-end diaper. So, I am going to go with a new S197. Now, it just comes down to price, year, and model. There really are only two "must-haves":

Payments of $450 or lower, the lower the better
2010/2011 Body style

I am torn between picking up a 2010 GT with the 4.6 for probably a pretty good price or waiting for the 2011 and having higher payments, but having the new 5.0. The sooner I get rid of my Shelby, the better, which is why the 2010 is looking more and more like the best option. But, would I miss out on the fact that I wouldn't have the new 5.0 or possibly a 2011 V6?

So, therein lays my question: Which model do I go with?

2010 Mustang GT (Saves more and still has a V8)
2011 Mustang GT (Still saves over GT500, but not as much as 2010 and has a 5.0)
2011 Mustang V6 (Saves the most, still have a nice car, just no V8)

Please, let me know all of your thoughts and what the best option for me would be considering my situation. I appreciate all of your input and look forward to hearing each your opinions. Please, fill in the poll question as well.

Thank you very much peeps!

 

I'd try to stick with a V8 if possible.
So that'd leave getting a 2010 at a bargoon... with the potential in the future (or right away) of having a power adder...OR i'd try to swing a 5L.
(pro you get the 6speed and a better car)

The con with the 010 is the lack of 6 speed, and down on power.

The V6 is the bottom of the power pile, but you get a 6 speed and 300hp (it'll be slower than the comparible V8 010 or 011.

I'd see what the prices are FIRST and then make the decision.
It may only be 20-50 bucks a month difference. It all depends on what you can swing and feel comfortable with.

 

My .02? Right now, go w/a 2010 GT; but if you can wait 6 months, get an '11 GT.

 

I am assuming you still have payments on your present gt500? How many do you have left? Do you know how much you will ose $$ when you trade your car in for a new one or would you try to sell it out right?

 

You realize that by selling your '08 Shelby and buying a '10 or '11 GT you might actually spend more money than just keeping the Shelby? You have to factor in:

Depreciation
Interest
Tax, title, and license

If you're really serious about cutting expenses, sell the Shelby and buy a 3-year-old sedan.

 

Go with the V-6 with 305 hp and lighter weight than the current car is should be great. If you decide it is not enough after a couple of years and a supercharger.

 

I have only made about 5 payments on the GT500. It is a 6 year note, so it is going to be a while on that note. I don't want or need that, lol. I would try to sell it out right, but I don't know how long that will take to sell. It may take several months and I don't know if I want to keep paying the payments on it for that long.

Any ideas how long it would take to sell a GT500? It is a 2008 with some additions including a aftermarket Kenwood navigation system, Magnaflow mufflers, a VMP 2.65 pulley and idler, JLT intake and tuned. It has less than 13K miles on it as well. Also, what do you think I could get for it?

If I can get a decent trade in value for it, I would consider trading it in and getting a 2010 now. Again, the payments would need to be right, though.

 

I honestly don't think I can see myself in anything other than a Mustang. One day, I would like to have a truck as well, but for now, I don't think I can purchase anything that isn't a Mustang, lol. I would lose a part of my soul if a drove anything else, heh.

 

Somewhere, there is a Ford salesperson who will be really happy to see you.

 

I would LOVE to meet him/her.

 

Is getting rid of the wife an option?

 

Are there any Ford dealers and/or salespeople on here that could give me a rough estimate of a outright selling price and a trade-in value for my GT500 so that I know what to expect going in as well as know if I am being low-balled? The general specs are as follows:

It is a mint condition, no-issues-what-so-ever 2008 with less than 13K miles. Some of the additions include: aftermarket Kenwood navigation system, Magnaflow mufflers, a VMP 2.65 pulley and idler, JLT intake and tuned.

Any general or detailed prices would be helpful and much appreciated!

Again, thank you guys!

 

LOL, well, she hasn't said yes yet... hmm....

But seriously, no. Somewhere later down the road, I plan to get a Shelby again. Now, if that day ever happens or not, I don't know. If it doesn't, at least I can say at one point I DID own a Shelby, heh.

 

I have an '05 vert for sale..... should be much cheaper than 450 a month.... check my sig

NO Rear DIAPER!!!

 

Thank you, but I would prefer a 2010/2011 if everything works out. If it doesn't, I will keep you in mind.

 

Alright well in all seriousness then. Unless you plan on putting down a good chunk of change, getting a decently optioned 5.0 may be out of that price range your aiming for. I have a 4.6 2010 GT and i cant say enough how much I love it, but i can also say how bad the 5.0 is clawing at my face that I didn't get one of those.So to each their own, but I would eliminate the V6 right off the bat . NOT because its going to be a slow garbage car, but after coming out of a Shelby ,and going to a V6 you'll want to kill yourself.

 

I would agree with the folks who are saying that if you need to dump the GT500 right this second, then go with a 2010 GT. Talk to Jeff, you can get some great deals on those right now as dealers are trying to move them off lots in preparation for the 2011s.

 

And I completely agree with all of what you just said. The only reason I am considering a 2011 V6 is because of the price. I would still get the looks, but the drop in power and torque may be too much for me to feel great about my decision.

 

Thank you for the advice, who's Jeff?

 

Another option is to look for a low mileage used 2010. There are bound to be a number of them available, as some folks will want to swap theirs for a 2011. That way you can let someone else take the depreciation hit for you.