SirDrums

Having a new mustang is an exciting idea and it a lot of fun if you can afford it but the reality is that you are going to be tied down to that car payment for the next 5-6 years. Being young, a lot can and will change in 6 years and you will want to be flexible and not have your choices in life limited because you have to pay for your car.

I had to wait until I was 30 years old until I could afford my first mustang. Just saying.

The best advice I can give you is:

Get a cheaper car (older mustang perhaps), be young, have fun and enjoy not having to make monthly payments while you can becasue one day, sooner than you think you'll have plenty.

Strange Mud

it's your $ and your choice but since you asked.........it's way too much of your income to spend on a car. Don't forget $ to go out, save for school etc. Whatever your 1st car is will be special you don't need to spend alot of $ on it.

.02 worth of opinion

xkape

Would not do. You can afford the buy a 2015 but you can not afford to own a 2015 (Mustang). You shell out $300/mo for car and insurance only making $500, what happens when you need to spend $100 for an oil change? $900 for new tires, $400 for new brakes, etc.. I will tell you, you're SOL.
I've been 16 before, I get it. You want something sporty and not a POS. If you want a Mustang, get on in the 00-04 range. You can pay cash for it, you can get a very nice one with lower miles even with what you have saved. If not a Mustang, find something you like in that 5k range. Listen to the people who have or have had them, car payments suck some serious ****. I'd give my left nut to drop one of these three payments I have each month. Speaking of which, I gotta pay the Mustang today. yay

Genxer

You could buy a used Mustang a few years old. Then you might have the extra cash to buy and bolt on some mods for it. That way you can learn something about cars. I think it's great that you want to pay what you can.

My daughter has a used car and it's gotten dings on the school lot, and she was even hit once.

iXephoz

Thanks for all the responses guys, I'm going to consider what you guys are saying. It still can't hurt to grab a few quotes from some insurance companies first. And besides, I've got the whole summer to talk with people and decide about this. My brother has an 02 GT, I really love it but his was best to **** before we bought it, and we didn't know because it was doctored up. That's what I'm worried about, but I'm sure their is plenty of clean ones left out there

SD05GT

Dude everyone is blowing holes in this kids dream.

I say it's an awesome plan and if everything works out like you're hoping.... All the power to you!

Welcome to the Mustang Family here in a few months!

PNYXPRESS

Don't listen to these people as they are all jeolous that they couldn't buy a brand new mustang at your age. I bought my first one brand new at 17 while working at dairy queen and now at 32 i have 3 and am also planing on buying the 2015 shortly and there is no reason you can't either. All it takes is discipline with your money and putting your priorities first.


Oil change is ~$35. And brakes are ~$50 when done yourself. And tires is just something you plan on and set aside ~$50/month for from the beginning

99GTvert

Regardless of what your situation is, 40% of your income on just a car note is extreme. This does not require jealousy to realize.

You can always get a new car later in the future when you're making more money so that you won't be at such a high ratio for just a car loan.

bluebeastsrt

Im not going to **** in your Cheerios or blow smoke but I'll tell you what I did as a very young man in the mid 80s! I thought the 350CID Iroc Z28 Camaro was the coolest thing I had ever seen in 1987. I paid $350 a month on the payment for the car. I also spent $3500 a year on car insurance because I liked to drive fast and tickets can't be avoided when your 19 and like to drive fast. $350 a month was like $600 today! The $3500 I was spending for insurance was equal to a mortgage payment back in the 80s. But I don't regret any of it. I've loved cars from as long as I can remember. Do what's best for you and don't seek advice on a forum. If you wait til you can afford things you'll never have kids or a cool car. I've raised two awesome kids and have a nine second Mustang and a Camaro SS in my driveway.

torinalth

Get a nicely cared for used GT instead. Wait till after high school till you get the really nice one. I got my first mustang at 21 and that was still hard due to how much it cost to make it work. That aside, I had friends in HS that had the nice cars in the lot and many times people jacked with them. It was heart breaking when you come out and see the window broken in due to someone hating on your car. Hammer hits to the hood, hack saw to the wheels to make sure you cant repair them, or people simply running into you (got slow tapped 4 time in HS due to people not paying attention).

Get a used GT that you can enjoy and love on, hell, get a 2011 with the 5.0 and have some fun but save money. When you get out of HS, then invest in a more quality car. I'll give you the benefit of the doubt that you will not wreck it, not go too fast, race everyone, or cause issues. But even with you out of the equation there are too many variables out of your control in HS to keep a nice car properly. Get the new one for a grad present!