chopin0302

I'm going to agree with those who are recommending on caution at this point. You said that getting a GT would make things tight. That in and of itself is no problem, but what if some catastrophe occurs while you are on a tight budget? Now you are in even worse shape. I say wait a few months and then re-evaluate things.

rehtorb

I would wait. It may be a good time to buy a car now in general but that does not make it a good time for you necessarily which is fine. If you wait and save up you can have yourself in a better financial situation which is more important. Just like others have said you will not be able to enjoy a GT if you are car poor.

Also with the new body style coming out soon the price of a current s197 will drop dramatically and dealers will be begging to get them off the lot plus more used GT's. I would wait, its going to take at least another year or two for the economy to really turn around and i think better deals are on the horizon. And I wouldn't mod the V6, not because its not worthy but because if you intend to sell it in a year or two it could hurt your resale. I would use that money to pay more down on your current loan so your not inverted if you trade in or just save it for a larger down payment and sell the V6 privately.

ztalon

Very good point. Lay the groundwork for the future GT purchase. Don't sink too much money into the V6, if you are going to be getting rid of it in the near future anyway.

Smooth_J

...and if you do mod the V6, please be sure to keep all the stock parts so you can change it back whenever you want to.

Thats exactly what I did for the Scion. I traded it in with stock parts and I sold the other parts on the forums.

08GT4U

if i was you ill wait, the banks are not lending to much credit at this moment.in march of 2008 i purchase an 08 gt my interes was 6.5% with an upside down of 9000 dollars.that car got stolen and the insurance paid for it.now i just purchase my new 08 gt againg and with a decent down payment no upside down and even better credit score and the lowest percent is 9.99.it is not worth it at this moment.the prices might sound good but the interest is the one that will kill you on the payments.if you have less than a 700 credit score i believe the interest rate was 11.9.

illin

You can out "GT" a GT for allot less than $8k.

For around $5K you can outperform any normally aspirated GT...and retain good mileage and lower insurance premiums (if one is concerned about those items).

Swapping up to an 8 is an expensive move. I assume your car is not paid off. If not, expect to be "upside down" $4-8k. Now factor in the new GT purchase...and oh yeah, another $2K to the Man for taxes.

You now are looking at a $12k difference.

No way. Bring your 6er up to speed slowly. When really ready, go FI.

With a GREAT tune and new gears, my car feels about as close to an 8 as possible (sans going FI). Running lower 14's is nothing to sneeze at (I have seen stock GTs run 14 flat over and over)...and if I REALLY want to get serious I go FI.

I have probably $2000 in mods and love the look and feel of the car. All the "gizmos" can be had ont he cheap. Missing leather? Order the takeoff for $300. All this stuff is pennies on the dollar and ius MUCH better than financing it out long term.

I have said this over and over...but it is worth repeating.

I used to think my old man was nuts as we did without as he was a "cash" guy. Cars, toys, vacations, houses...you name it. Cash.

Now I finally understand...but it took me 20 years to struggle and claw my way out. We are debt free and I can hardly describe the way it changes your life.

Debt is a cancer crushing the life out of you. Its everywhere, its easy and it lures you in with unkept promises.

Never again. Once you break the cycle, you never have to go back in.

Norm Peterson

If you're that close to the brink of disaster you shouldn't even be dreaming of trading up. Enjoy what you've got, maybe modding it as cash basis permits, until you're on firmer financial footing.

Listen to illin, and DO NOT ALLOW YOURSELF TO GET INTO THE FINANCIAL MESSES that (more than three, but never mind exactly how many) 30-somethings whom I know personally are still trying to dig themselves out of.

Given the current economy, get yourself onto a straight cash basis for as much else as you can. If the money isn't in your pocket for whatever now, whatever it is can wait.


Norm

logicbombx

I'm not on the brink of disaster, but $100 bucks more a month is still a hundred bucks. It would make me a bit tighter.

ztalon

You have a very good looking Mustang. I'd probably go with the classic 5 spoke GT type wheel, but not much else.

Take a good long look at the beauty you have there. Resist the temptation and enjoy your fine looking Mustang. Then when the time is right, get what you want. It's all about timing. Good luck.

chuck biscuits

+1 Good advice.