Just to put a bow on this topic and tie it up, i added back the electronics package. Hah. Primarily because it is now going on my race red track pack gt. What could i possibly ever trade a 420 horse torsen diff brembo braked 3.73 mustang with leather recaros for? The answer. Nothing hah. Im keeping this car a long time so not worried about the trade in as much anymore.

 

Does anybody else wonder why a self-professed "rich" guy (could buy two GTs) who is also supposedly well versed in personal economics would be getting a 72 month loan? Unless you can get such a loan at 0% (or really close to it), the longer term just ends up costing money unnecessarily. Sounds to me like someone who has lots of credit and lots of "stuff"... and lots of debt. That's not rich in my book.

And yes, you can get much of the functionality of the electronics package with a GPS or smartphone. But you can't get all of it and you certainly can't get the integrated look with a GPS or phone hanging from your windshield. Some of us are willing to pay more for that regardless of resale value, some of us aren't. I agree with MilesTeg - I'd rather pay more for exactly the car and equipment I want rather than later regretting some option I left out.

 

Deleted by myself in an attempt to be more civil in the future :-)

 

Yep - I'll take these record low interest rates as long out as they'll give me. Besides, with inflation (yes its higher than reported) I am paying it back with cheaper and cheaper dollars the further out I go.

Plus, if you use a debit card, you can make a decent 3% interest on your cash reserves - as compared to most banks paltry 0-1%. Since the Great Implosion caused savings rates to plummet, I haven't made less than 3% for 4-5 years now. Just by swiping my debit card.

http://ratebrain.com/

 

Not sure where this thread is going but I have the electronics package on my 5.0 and wouldn't trade it for anything. I also plan to have the car till I die and am not worried one bit about the electronics being outdated down the road.

Also, I financed my car with nothing down over 75 months for 2.79% and would have gone longer if I could have at that rate. As previously stated $ in other investments is worth much more than the title to a car ... even if it is a mustang

 

1) I think the implication from:was clear enough.

2) 2.9% is a decent but not stellar rate for a new car loan these days. Just as an example, my credit union is currently offering 2.75% for 72 months and less for shorter terms. And that's the point - for a 60 month term you can get 1.9% from a bank/credit union or 0% plus $1,000 cash from Ford on many models (including '12 Mustangs). Let's see... on a 30K loan, that extra year cost you almost $1,200 from a bank or $3,721 from Ford financing. The latter would have paid for your electronics package and then some.

Debt is not necessarily bad (excessive debt is bad). But carrying debt merely to gain a small percentage (for example 2.9% debt for a 3% or 4% return) is often not a good idea - especially when the debt is on a depreciating asset like a car. You generally lose more than the small percentage investment gain just through the depreciation of the asset along with all the fees and costs involved in your investments that cut into your net profit.

But the big point here is the one extra year between a 72 month term and a 60 month term. That is the tipping point where rates change significantly. The rate difference between a 48 month and 60 month loan is often insignificant but not so with 72 month rates. Every case is different but more often than not, from an investment/cost perspective, 72 month car loans should be avoided.

And it doesn't matter whether interest rates are high or low - it's the spread that makes the difference. In other words, it doesn't matter whether you have a 2.9% loan with a 4% investment return or a 7.9% loan with a 9% return.

 

wannabe,

If you need help with your MyFord Touch in the Escape, don't hesitate to contact me. F.Y.I. we're working on another update for it.

Rebecca

 

Deleted by myself in an attempt to be more civil in the future :-)

 

Well excuse me, you were the one expounding on the minutia of whether a $2,000 option on a depreciating car was a good investment. Make up your mind. If you want to talk numbers in the hundreds and low thousands then that $1,200 difference between 60 and 72 months is not insignificant. If you think that the $1,200 is minutia then why did you ever start this thread in the first place - the electronics package cost would be just chump change.

I spent many years working in the financial reporting department of a large regional bank and we loved "investors" like you... we made lots of money off them - just like casinos make lots off of gamblers with a "system".

 

ya'll can't have your love quarrel in a PM why??

 

Deleted by myself in an attempt to be more civil in the future :-)

 

That's no fun

 

Good choice. That's my plan with my car too. I ain't ever trading it in. With all the mods I've done, I did them because I want to keep this car pretty much forever. When you keep a car, you can give that car a great personality that can't really be economically justified if you only keep it a few years. And I want my car to turn heads and have a personality. Which it definitely does now lol.

 

Resale, trade-in, recoup the price of the Electronic Package, Geeze. Never entered my mind for a second. I ordered my car to enjoy it and wanted the navigation with dual zone climate control, HD radio, Sync, rear back-up camera on the large screen and not just in the tiny left corner of the mirror if ordered. I am exhausted with getting lost and pulling over the side of the road and digging under my seat for the garmin, digging for the garmin stand and cable and hooking it up with the wire hanging in front of my stick shift etc, etc.

Brand spanking new beautiful Mustang GT/Premium with Electronics Package, Comfort Package, Shaker Pro Audio (Awesome) and 19 inch wheels. I am a happy camper. That's about the size of it for me. Enjoy every second of it and not wanting for anything or wishing I coulda or woulda. Loving it !!!!
That's why I bought my Stang. To enjoy it my way. You should enjoy it your way. If it will haunt you that you spent that money on an option - DON'T GET IT !!!! Because it will haunt you...

 

TOOL !!!!!!!

 

One arrogant tool. I will say no more. Promise!!!!!!!!!!!

 

 

I should've ordered the electronics package, but I opted for the track package instead. I figure I could always install my Kenwood Double Din Navi with built in blue tooth anyway.

 

It must be me!!!

 

I'm getting mixed up with gregc and greg3