advise for a GT500
08-01-2008, 08:23 AM
#23
5th Gear Member
Join Date: Jul 2006
Location:
Posts: 3,834
RE: advise for a GT500
I went through a similar thing a while back....difference I already had modded my 2005 GT with saleen etc....I had some cash in the bank...the dealer as only willing to give me about 17k on trade in with my mods and I had low miles as well...so in turn I figured I would try to sell my car which I owed about half of what they offered me in trade in....so I listed it on here and other sites...then I took a chance and put it on ebay...within 3 days my car sold for $26,000... 9k more than dealer offered me and only about 4k less than what my total investment was in the car inc mods and purchase price..now my choice became worse as I always felt it was meant to be if my car sold....however...no car payments....and about 28k in the bank...I was real tempted...with me it was an age factor...I am not getting any younger...I have an established job and 2 great kids..1 getting ready for college and the other middle school..for me it was about enjoying life while I can...I figured...if all else fails, I had enough money still sitting in my account...and if it all came crashing down, I have more than enough positive equity built up in my gt500 that I could sell and still be back to where I was at or there abouts...its a tough choice for you...do I regret getting my gt500....absolutely not....would I do it again...absolutely...just make sure you think about it carefully...dont let a bunch of bloggers and thread posters decide for you...only you can truly make the call....good luck 
08-01-2008, 06:52 PM
#24
3rd Gear Member
Join Date: Sep 2006
Location: Manhattan Beach, CA
Posts: 695
RE: advise for a GT500
Don’t wipe out your life savings to buy a car. It’s a totally boneheaded, irreversible move.
If you insist on bankrupting yourself to buy a more expensive car, then I agree with Legion 5: buy a Saleen for $10k less (perhaps from someone who bought a car he can’t afford and now has to unload for cheap). Maybe even something like this one, which is priced about $7k under market value: http://losangeles.craigslist.org/wst/car/772043114.html
If you insist on bankrupting yourself to buy a more expensive car, then I agree with Legion 5: buy a Saleen for $10k less (perhaps from someone who bought a car he can’t afford and now has to unload for cheap). Maybe even something like this one, which is priced about $7k under market value: http://losangeles.craigslist.org/wst/car/772043114.html
08-01-2008, 08:03 PM
#25
2nd Gear Member
Join Date: Oct 2007
Location: IL
Posts: 222
RE: advise for a GT500
ORIGINAL: timothyrw
i wouldn't do it.
sure, a gt500 would be great to have. but so is the financial cushion of 10k in the bank. i'vegot my 6-monthemergencycash reserve in the bank and it feels great!
especially if you have kids or a wife; i would definitely not do it then!
especially in today's world, having that cash cushion, not many people can say that. no one saves anymore...
you made a really good financial decision by paying cash for your first mustang, if you really want a gt500, save some more and do it right.
i wouldn't do it.
sure, a gt500 would be great to have. but so is the financial cushion of 10k in the bank. i'vegot my 6-monthemergencycash reserve in the bank and it feels great!
especially if you have kids or a wife; i would definitely not do it then!
especially in today's world, having that cash cushion, not many people can say that. no one saves anymore...
you made a really good financial decision by paying cash for your first mustang, if you really want a gt500, save some more and do it right.
08-01-2008, 08:36 PM
#26
3rd Gear Member
Join Date: May 2006
Location:
Posts: 700
RE: advise for a GT500
If you could afford the car, then that would be one thing. Emptying your life savings for a vehicle is not a good idea.
I say, be happy with what you have. There is always something new, better and faster.
The '96 Cobra was a gotta have it Mustang back then. 300 hp was HUGE at that time! Now all GT's have 300 hp. The C5 Z06 was the performance beast of 2001 by 2005 all Corvettes performed as well or better. Even the PT Cruiser was an "it" car. People paid over MSRP for those!
The GT-500 will go the way of all of those cars. A new one will be out next year and an even newer one will be available in 2015. Skip it for now and pick one up in about five years. It will still be cool and you'll be able to afford it without hurting yourself.
I say, be happy with what you have. There is always something new, better and faster.
The '96 Cobra was a gotta have it Mustang back then. 300 hp was HUGE at that time! Now all GT's have 300 hp. The C5 Z06 was the performance beast of 2001 by 2005 all Corvettes performed as well or better. Even the PT Cruiser was an "it" car. People paid over MSRP for those!
The GT-500 will go the way of all of those cars. A new one will be out next year and an even newer one will be available in 2015. Skip it for now and pick one up in about five years. It will still be cool and you'll be able to afford it without hurting yourself.
08-02-2008, 01:47 AM
#27
3rd Gear Member
Join Date: Mar 2007
Location:
Posts: 503
RE: advise for a GT500
ORIGINAL: pxdig
Its not just s/c, i really love the whole Shelby thing.
Besides, I hear that the automatic 4.6, its not a good idea to S/C. Dont know if that is true or not....
as for the cost of gas, I drive a TOTAL of 12 miles a day. So, no worries there.
Its not just s/c, i really love the whole Shelby thing.
Besides, I hear that the automatic 4.6, its not a good idea to S/C. Dont know if that is true or not....
as for the cost of gas, I drive a TOTAL of 12 miles a day. So, no worries there.
I thought about S/C my GT for quite some time. I figured ****, I'll just whipplemine and have basically the same car.WRONG - I was fortunate enought to drive the crap out of a GT500 about a month ago. TheGT500 felt completely different than myGT. Everyaspect of thatfelt superior.The braking was almost as impressive as the acceleration.It felt like my eye-***** were going pop out of my head. Theshifts were much cleaner and shorter.The stearing and handlingfelt tighter.The car just felt incredibly solid.
It made such animpression on me - myGT's onebay right now (SEE FO YO SELF). That's right, screw S/C it, I'm selling it. My goal is to save up some extra coinfor a largedown payment on a GT500 this winter and then I'm pulling the trigger on a GT500.
08-02-2008, 09:17 AM
#28
5th Gear Member
Join Date: Jul 2006
Location:
Posts: 3,834
RE: advise for a GT500
ORIGINAL: seniorsmith
+10000...
I thought about S/C my GT for quite some time. I figured ****, I'll just whipplemine and have basically the same car.WRONG - I was fortunate enought to drive the crap out of a GT500 about a month ago. TheGT500 felt completely different than myGT. Everyaspect of thatfelt superior.The braking was almost as impressive as the acceleration.It felt like my eye-***** were going pop out of my head. Theshifts were much cleaner and shorter.The stearing and handlingfelt tighter.The car just felt incredibly solid.
It made such animpression on me - myGT's onebay right now (SEE FO YO SELF). That's right, screw S/C it, I'm selling it. My goal is to save up some extra coinfor a largedown payment on a GT500 this winter and then I'm pulling the trigger on a GT500.
ORIGINAL: pxdig
Its not just s/c, i really love the whole Shelby thing.
Besides, I hear that the automatic 4.6, its not a good idea to S/C. Dont know if that is true or not....
as for the cost of gas, I drive a TOTAL of 12 miles a day. So, no worries there.
Its not just s/c, i really love the whole Shelby thing.
Besides, I hear that the automatic 4.6, its not a good idea to S/C. Dont know if that is true or not....
as for the cost of gas, I drive a TOTAL of 12 miles a day. So, no worries there.
I thought about S/C my GT for quite some time. I figured ****, I'll just whipplemine and have basically the same car.WRONG - I was fortunate enought to drive the crap out of a GT500 about a month ago. TheGT500 felt completely different than myGT. Everyaspect of thatfelt superior.The braking was almost as impressive as the acceleration.It felt like my eye-***** were going pop out of my head. Theshifts were much cleaner and shorter.The stearing and handlingfelt tighter.The car just felt incredibly solid.
It made such animpression on me - myGT's onebay right now (SEE FO YO SELF). That's right, screw S/C it, I'm selling it. My goal is to save up some extra coinfor a largedown payment on a GT500 this winter and then I'm pulling the trigger on a GT500.
08-02-2008, 10:33 AM
#29
3rd Gear Member
Join Date: Nov 2006
Location: NJ
Posts: 825
RE: advise for a GT500
Step back. You ruined it for me at "empty the bank account". ( Also, 16k for a trade in, no way...I know thats about the current trade in value, but stil...)
Forget it, its above your means, no offense. Enjoy your present car, forget about the GT500, I'd love one too, but "it ain't happenin'", so I move on and think about whats important. Some people would die to drive what you have now, thats how I put it into perspective.
You have a nice car already, save your money. Think with your head, not your heart.
Forget it, its above your means, no offense. Enjoy your present car, forget about the GT500, I'd love one too, but "it ain't happenin'", so I move on and think about whats important. Some people would die to drive what you have now, thats how I put it into perspective.
You have a nice car already, save your money. Think with your head, not your heart.
08-02-2008, 10:39 AM
#30
6th Gear Member
Join Date: Dec 2007
Location: Long Island, moving to arizona soon
Posts: 7,386
RE: advise for a GT500
if you can afford it i would do it. and also the gas prices are goin down a doller or 2 they said it will go down to 3 bucks and it already went down near me like 40 cents