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New and need advice on a 2001 GT

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Old 05-01-2013, 07:33 PM   #1
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Default New and need advice on a 2001 GT

Right now I have a 2005 mustang 4.0 V6. It's a really pretty car. I have 12' black stripes, window louvers, side scoops, a hood scoop (GT replica, not some cheesy one) GT wheels, GT500 spoiler, etc, etc.

2 problems, It's a V6 and a auto transmission.

The 2001 GT I'm looking at has 54,000 miles and they want a little over 9000 for it. It's in very good physical shape but I'm more worried about the internals.

My parents can't seem to understand why I would want to trade a newer mustang for a older one. My mom HATES that its a V8 and my dad doesn't care for the new edge style.

Now, I know it has low miles. My current mustang has a little over 100,000 so the new mustang is much lower. But does how old the car is effect it that much? Surely Ford makes the V8's stronger than the paper thin V6's and I should be ok right? I also know (or have heard I should say) that manuals are built stronger than auto's because they factor in human error.

I know you guys can't make a real accurate prediction based on the information but would you do it if you had the chance? I really want a manual GT and the new edge mustangs look sick. This one is black with a chin spoiler and deep dish bullitt wheels.

It was so much more enjoyable to drive than my V6 too. I also really want to learn how to drive a manual well. I can drive this beast now but 1st gear isn't real pretty, ya know what I mean?

So the bottomline is it ran and drove well for me but I'm just really nervous about buying a car that old if it's going to have a lot of problems. I'm also pretty attached to my V6.. What have your experiences with these models of mustangs been?

Thanks for helping me out guys. Cool website too by the way. I wish I had known about this before!
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Old 05-01-2013, 08:12 PM   #2
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I love my '02 GT and have had ZERO problems out of it. It has 60k miles on it now. I say get the V8. But if you have sentimental value towards the sixxer keep it. You don't want to do something you'll regret. but also don't pass up a deal you would regret. I may have the opportunity after HS to get a 2007 GT/CS or Maybe even a 2010+. But i dont know if i will because i have a ton of sentimental value to my car. It's my first car and i have dumped a little over $2k of my own money in mods alone. Although a manual 5.0 may change my mind, considering mine is an auto 4.6.
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Old 05-01-2013, 09:32 PM   #3
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manual v8 and never look back
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Old 05-02-2013, 08:38 AM   #4
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I think I'm going to do it. It's a really nice car and I'm sure I will like it better.

It's just gonna be a little rough selling the ol' v6 but all good things must end haha. Plus she's getting old. Ticking time bomb of mechanical problems coming down the pipe.

Hopefully in a few days I will be a GT owner! Thank you so much guys
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Old 05-02-2013, 09:54 AM   #5
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If you're that concerned about having an older car, I would choose carefully.

If you aren't mechanically inclined, willing to read a Chiltons, or pick up a Ford Tech manual. Don't waste your time! If your outgoing car is falling apart or has "mechanical problems."

What is going to be the outcome of having an older car you aren't going to take care of and won't know how to work on it.

I feel that it's much more rewarding to be able to do your own work, not to mention saving a metric a** ton of cash on labor.
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Old 05-02-2013, 10:07 AM   #6
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Excellent advice Seabee, but I dont't think we can assume he won't take care of the GT? He seems to have maintained his '06 well. He seems to just prefer the GT as either of the older cars will naturally have wear and tear issues as the years and miles add up.
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Old 05-02-2013, 10:23 AM   #7
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I'm not trying to pull his card, but it's the wording he uses.
It's a 2001, it should be expected unless the current owner keeps a file of whats been done. (Which is what I do)
There are so many variables here. what's been done to it? how has it been driven? garage kept? summer car? DD? Older owner? Original owner?
Those should all be things that OP should take into account and ask before evening reaching for his wallet.

I've had some hiccups with mine that I sure wish I had of looked at before I bought it. Just want him to use caution, and to educate himself. Knowledge is power, and as much as I love talking on this forum, it's not the first place I look if I'm stumped.
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Old 05-02-2013, 10:42 AM   #8
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Originally Posted by Seabee1993 View Post
I'm not trying to pull his card, but it's the wording he uses.
It's a 2001, it should be expected unless the current owner keeps a file of whats been done. (Which is what I do)
There are so many variables here. what's been done to it? how has it been driven? garage kept? summer car? DD? Older owner? Original owner?
Those should all be things that OP should take into account and ask before evening reaching for his wallet.

I've had some hiccups with mine that I sure wish I had of looked at before I bought it. Just want him to use caution, and to educate himself. Knowledge is power, and as much as I love talking on this forum, it's not the first place I look if I'm stumped.
i couldnt stress that enough. Not that ive had any problems with mine, but make sure you know what you're buying because after all you will be paying a good chunk of change for something you have to drive everyday/near everyday.

On that note, if it looks good and youre comfortable and ready, pull the trigger! have fun and good luck!
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Old 05-02-2013, 05:02 PM   #9
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Your presumption that the 2005 is a ticking time bomb at 100,000 miles is pure speculation unless you know you haven't been maintaining it.

If your V6 is running fine, I'd keep it instead of a 2001 GT with 54,000 I have no idea how this car was driven or maintained miles miles.

Additionally, Ford still makes a lot more parts for the 2005 than the 2001.

What do your parents have to do with selling your car?
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Old 05-02-2013, 05:36 PM   #10
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Legally, if he's under 18, his parents have a LOT to do with selling the car.
I'm pretty sure there are just as many parts for the 2001 as the 2005.

That being said, I'd stick with what you have for now. $9K for a stock GT is over priced...even with the low miles. If you really want a 99-04 GT, shop around more. There are FAR better deals to be had.

The other thing you should look at is seeing the V6 and the auto as a bad thing. The V6 is a stout motor - not 'paper thin'. An auto isn't a bad thing at all for a street car. If it were a pure track car, then I'd say match the tranny to the type of racing. Being that you're young (guessing), take your time and learn about the car you have. Drive it to it's fully potential prior to 'needing' to jump to the 5 sp V8.
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Old 05-02-2013, 05:53 PM   #11
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Get the 01 V8. Auto v6ers are for females
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Old 05-02-2013, 07:11 PM   #12
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Thanks for the replies guys.

I really want to get a new edge style mustang GT and I figured this one was a good find. It has 3.73 gears, throttle body, magna flow mufflers, K&N ram air intake, and shorty headers. I have no idea what any of this is with the exception of the mufflers.

All of the other mustangs of that year in my area seem to be priced the same, I haven't haggled with the stealership at all yet either. I plan on swinging out tomorrow. I bet I can at least get them down to 8,500.

I don't mind putting a little bit of money into the car since it's so cool and I'm pretty good at working on cars. I did such things on my V6 mustang as: Fuel pump, spark plugs, GT sway bars, lowering springs, the big 3 (car audio thing), brake rotors and pads, etc etc. Could I handle any regular wear and tear stuff like this on the 2001? I'm not afraid of grabbing a chilton and getting to work.

I think I'll have them get me a carfax tomorrow and go from there. What are some red flags I should look for? And when I inspect the car more carefully tomorrow what should I look for as far as if the car has been maintained, if it's even possible to tell.

Thank you so much guys.
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Old 05-02-2013, 07:18 PM   #13
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And if I understand correctly a 2001 mustang could potentially have more issues because of it's age even though it has less miles. Would kind of things in a car get wore out from age not necessarily usage? Just trying to get a good idea of what I'm up against here.

Sorry for being ignorant on the subject. Maybe I'm not ready for a V8 lol
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Old 05-02-2013, 07:58 PM   #14
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If you really want a New Edge, keep looking and find a stock adult owned car. 3.73s and shorty headers scream drag launches to me.
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Old 05-02-2013, 08:02 PM   #15
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All right. I will keep looking. Good advice, thanks for the heads up.
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Old 05-02-2013, 08:06 PM   #16
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Quote:
Originally Posted by Cbird View Post
All of the other mustangs of that year in my area seem to be priced the same, I haven't haggled with the stealership at all yet either. I plan on swinging out tomorrow. I bet I can at least get them down to 8,500.
There's the problem. A dealership will charge a lot more for the same car from a private party. Where in Iowa are you located? I'd get to a large city near you... Minneapolis, KC or Chicago. Looks someplace outside your local area where Mustangs will be more popular. You'll save a few grand on one and be able to have more of a selection.
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Old 05-02-2013, 09:34 PM   #17
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Old 05-02-2013, 09:59 PM   #18
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There is a lot to be said for "Better the devil you know than the devil you don' t know" philosophy, but there is also equal strength in "You only live once" and "You're only young once". When I was 18, my Mom co-signed for me to buy a 5 year old 1970 Mustang coupe with a 351 Cleveland. I still have dreams of driving that dark metallic green beauty to this day. Lost her to a drunk mechanic who literally went crazy putting in new rings. She threw 2 rods going 40 mph 2 days after i got her back.The mechanic went to the nut-house. If you are young and semi-dependent on your parents to help out financially, I definately wouldn't buy the GT without first winning them over. Having the car thorougly checked for weaknesses in the drivetrain and electrical system and found to be solid would probably do that. The dealer probably paid half of the asking price and will probably take $7,000 for it if you tell him that's your ceiling, leave your phone number and walk out. Also don't most states have a 3 day buyers remorse rule on car purchases? I might be pulling that outta my dessicated **** but, anyway the regret of not buying can be as bad as the regret FOR buying.
Please forgive my rambling trip down memory lane.
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Old 05-02-2013, 10:28 PM   #19
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See I say get the new edge. The 4.6 is a very durable engine with over 250,000 miles on cop cars and taxis that have the same motor. If the previous owner was halfway competent with oil changes you will be ok. Make such the clutch feels tight and the tranny shifts good and you will be ok.
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Old 05-03-2013, 04:24 PM   #20
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Quote:
Originally Posted by Sonic Mustang View Post
If you really want a New Edge, keep looking and find a stock adult owned car. 3.73s and shorty headers scream drag launches to me.
I disagree.....I would think a drag car would have at least 4.10s if not 4.30 and long tubes.
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Old 05-03-2013, 04:24 PM
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