Hey everyone.... I read about the 07 Shelby at least once a day.... Now that the release date is gettin near, I'm gettin anxious. Heres the deal, I'm only 20 and I'm a full time student at UT not making any huge amounts of cash. But I did save and along with some help from my parents (Christmas Present) I now own an amazing 06 GT that I absolutly love. I put 5k (money I saved) down and the deal with my parents is they'll make half my payments for me (which is amazing). We got a great deal on the GT due to my family being long term friends with a local dealer in Dallas and my grandad working for Ford for I think about 25 years. Heres what I'm thinking, is it possible to basically trade in my 06 GT for a Shelby? By the time of the release I'll have had made 6 payments plus the 5k I put down. I know the shelby is much more the GT, but is this possible? what kind of payments do you guys think I'll be looking at. The fact that the pricing isn't out yet is killing me. It scares me to think this could easily be a 60k car. Right now my monthly payments are about 550.




By the way, my first car was a 67 fastback and the 06 GT is like driving a modern version of the 67. Its an incredible car. If I ever owned a GT500 I think I would start crying..... lol

 

No matter how great the GT is, you still lost a lot of money when you drove it off the lot. In fact, in my opinion, they would probably only offer you pay off for your car. In my area, when you trade in a car, you only pay tax on the difference in prices of the two cars. So if you sell the car outright, you would have to get more for it to get "the whole value " of trading it in. I recommend you go ask your salesman. That way you won't be kicking yourself down the road for not trying. Plus, all thier 07 Shelby's might be spoken for so you need to find out if they can even get you one.

 

$550 is 48 month financing?

Most of your payment is interest right now, so you haven't really paid down any value of the car. Being a brand new trade in, you'll most likely get enough to pay your loan off, so you'll finance nearly the entire cost of a Shelby. Figure $43,000 with taxes, etc. Then tack on ADM (5, 10, 15, 20K? who knows.) Say you end up paying $55,000 for it. With todays rates (assume 6.5% interest) your monthly payment for a 48 month loan would be $1304. Just slightly more than my mortgage. [img]style_emoticons/<#EMO_DIR#>/eek.gif[/img]

If you wait, and trade when ADM is gone, and get a great deal and end up only financing 40,000, then the same loan would go down to $949 a month. Push it to 60 months and you're at $783.

 

Forget about the GT 500 and be greatful and thankful to your parents for what you are currently driving. You cannot even afford gas for the 500.

 

Agreed. There is no way your payments won't jump a ton. You're talking about at a MINIMUM a 40K car + TTL, so probably ~44K financed. You haven't paid down that GT enough to even consider coming out ahead, so you'll have to roll that into the loan too.

 

Thanks guys for not bein to brutal! [img]style_emoticons/<#EMO_DIR#>/04.gif[/img] First off let me say that I am truely greatful to be in the situation I'm in and I love the GT like a child. I also have one factor that I haven't mentioned, I have a very nice 94 bronco that I've been offered 5k for. Thats a possibily. But I think I'm going to sell it and use it to pay off the GT. If one of you guys is ever in the Austin area when u get your 500.... please drive by so I can see it! I can't wait to see one one on the street..... I'll go [img]style_emoticons/<#EMO_DIR#>/banana.gif[/img] [img]style_emoticons/<#EMO_DIR#>/banana.gif[/img] [img]style_emoticons/<#EMO_DIR#>/banana.gif[/img] [img]style_emoticons/<#EMO_DIR#>/banana.gif[/img] [img]style_emoticons/<#EMO_DIR#>/banana.gif[/img]