Decided on Purchasing a GT
 

Well, I decided on getting a 5th generation Mustang GT. It will be a cruiser since gas is too ridiculousy high to use the GT as a daily driver, so I'll use my 2001 Altima instead to get to school since the old fastback is also murder on my gas bill. Then I'll sell the altima for some quick cash. As if that wasn't hard enough, I'm planning on a Cold Air Intake package, so I'll probably be using 93 Octane Fuel for tuning.

While I can now easily purchase the car, it's the insurance quotes that will kill me. I got estimates from local companies ranging from $210-$250 a month. From what I hear, the factors include: Gender-I'm a boy (bit sexist), Age-I'm 18, Car-2 Door Sports Car..As an African-American I hope race doesn't play a factor later in life. So I decided on waiting it out on the economy the rest of the year before I buy the car. I hear a lot on these forums that people have waited years before buying a mustang, so I feel a bit better about this decision.:(

I am a full-time commuting college student until next semester when my parents move to Chicago (Find Apartment), paying 25% tuition because of a scholarship, and a part-time job...so odds are not heavily against me now. I have carefully planned out every modification I wanted to install on the GT so far, so that I have enough money saved up to blow it all on them.

FUTURE MODS...
Bassani X-Crossover Pipe and Bassani Axle-Back Exhaust System
SCT X3 Tuner and JLT II Cold Air Intake System
Comp Stage II XFI NSR Camshafts
Steeda Underdrive Pulley System
Hurst Competition/Plus Short-Throw Shifter
FRPP Gears: 3.73
Upper Black Grille With Fog Light Delete
RKSport California Dream Hood
BMR GT Lowering Package

So what are your thoughts? Should I buy an older model like 2005-2006, or wait for the 2010 model (Looks like a Camaro, so I'll bite)
Thanks again for the welcome last week and please throw me your opinions!

Decision, decisions. I would wait a little while. Concentrate on your schooling, save up some money and decide later on.

Yep that's the idea for now. I figured wait it out till later...
Thanks for the input. It's gas and insurance I'm worried about.
So far my grades are solid as an environmental engineering major so it better pay off later in life=Compensation is 75K to start...so at least I won't be poor:).

Plus I heard that it's best to wait for the new thing to appear first before jumping the gun on something. Hell, by the time that happens, there will be some better mods to invest in.

You are exactley right. Keep up the hard work, it will all pay off in the end.

for the insurance, why not put it under your parents name, it will cost much less.

cobra443-Thanks

onederful100-They are cutting me off all funds other than emergencies now since they're moving to Chicago. Starting next year, I'm responsible for everything!

I figured...

1. Tuition=10,030 a year-75% Scholarship, leaving 25%
2. Sell Altima=At most $1000-$2000 since the mileage is under 75,000.
3. Insurance=WILL BE THE END OF ME...until 25.
4. Gas=Hopefully prices will drop soon. Florida is ridiculous!
5. Room=Living with a friend until I find us find an apartment with my other 2 buddies. The advantage of that is they each have a car, so gas may not be so bad if carpooling is involved.


How much do you guys typically fill the gas tank with? I know it's a v-8. Gas is 3.69 down here.

Its usually around $50 to full her up from close to empty. Thats with 93octane.

Got it. 50 was a lot lower than I expected, especially 93 Octane. Then again with the blower, your mileage must be pretty gruesome...

im at between $40-45 a fill on an 87 tune about 17mpg mixed daily driving.

I wont quote u my insurance lol but im 23 & female with no accidents. I am married, husbands over 25, multi-car discount and no accidents for him as well. And my insurance is still "high". If i didnt love my car so much I might think i was an idiot for getting it between the payment and insurance.

If you have that much coming up, put the stang on the back burner. And do it up right when the cash flow is there for you.