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Having a dilemma...

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Old 08-13-2005, 04:25 AM
  #11  
Moopher
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Default RE: Having a dilemma...

Yeah this is the kind of stuff i really need info on, will having a co-signer with perfect credit help my financing?
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Old 08-13-2005, 04:42 AM
  #12  
daleygirl
 
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Default RE: Having a dilemma...

I you're determined to do this; Research your financing as much as you have the car. If you have a co-signer, and/or access to a good credit union it will help. Go on-line and look for cu's in your area. Find out their rates and if you have any family who are members to sponser you. I just picked up my GT vert 2 days ago (ordered it 6/10/05). And I only had $4000 to put down.I'm financing $30,000 for either 84 months @ $428.00 or 72 mos @ $473.I haven't decided yet. The CU we just joined offers an extra 1% point discount on your 1st loan with-in 90 days of joining! (3.99% YES!).
Try to establish some credit on your own meanwhile. But a (credit-worthy)co-signer helps lots.
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Old 08-13-2005, 04:59 AM
  #13  
Moopher
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Default RE: Having a dilemma...

Yeah, i definetly will look into a credit union and that whole game. I've still got about 4 - 4 1/2 months to go before the plan goes into action.

I also have a brother with perfect credit, he's 25, and built his own house, 2 kids, all sorts of brand new toys and cars, plus a high paying job. I've talked with him about co-signing too. Plus, since this is so out of the ordinary, that's why i decided to go with a 10,000 down payment.
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Old 08-13-2005, 05:42 AM
  #14  
Orion_240
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Default RE: Having a dilemma...

Just a question for all the members:
Does anyone here know of even ONE teenager who managed to keep his or her first car? Who didn't crash it? Or get it wrecked?
There weren't that many 300HP cars when I was out of high school and all of them are now recycled Bud cans!
If you have the ability to save then SAVE! Don't blow your future on a GT!
If you like the car I highly advise buying a USED 2005 V-6. You can fix it up at your leisure, learn proper mechanic abilities and if the bug is still in you try getting a '67 fastback and fixing it up. By then you won't have to wait 6 months just to buy a car!
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Old 08-13-2005, 06:01 AM
  #15  
daleygirl
 
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Default RE: Having a dilemma...

I hope you drive as level-headed as you sound. I have three sons & each one was totally different from the other at age 17. Not all 17 year-olds are alike. KEEP THAT DRIVING RECORD CLEAN. That way you'll stay healthy and so will you insurance payments. My oldest had an accident at 17 where his best friend went through the windshield, cut his throat & would have died if it hadn't happened in front of the fire department. They are still best firends and that son is still an exclusion on my insurance policy. The middle son has never had a ticket or an accident and the youngest is somewhere inbetween. Keep up your grades & you should qualify for a discount on your insurance too. ....okay..enough preaching
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Old 08-13-2005, 06:12 AM
  #16  
daleygirl
 
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Default RE: Having a dilemma...

Orion, I'm a slow typist & I just saw your question. Like I told Moopher I had 1 out of three. He never even put a ding on a car. Just got tired of them fast. Went from a cavalier to a Z24 to a 94 mustang to a prelude to a pick-up, and now just bought my 2000 mustang. I wish kids were ALL that easy.
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Old 08-13-2005, 07:19 AM
  #17  
Moopher
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Default RE: Having a dilemma...

Yeah. I like to think i'm level headed, i've gotten in one accident, but i was the victim. I have zero tickets, nothing against my driving record at all, i'm doing well in school, actually i'm going PSEO this year, to get a free year from the school, and i work constantly. This car is actually something i want to learn about, i want to figure out the mechanics, and how it works, etc. I understand that it's a pretty ludicrous idea as well, but i'll have to see what happens i suppose..
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Old 08-13-2005, 02:07 PM
  #18  
dc_mann8
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Default RE: Having a dilemma...


ORIGINAL: Orion_240

Just a question for all the members:
Does anyone here know of even ONE teenager who managed to keep his or her first car? Who didn't crash it? Or get it wrecked?
There weren't that many 300HP cars when I was out of high school and all of them are now recycled Bud cans!
If you have the ability to save then SAVE! Don't blow your future on a GT!
If you like the car I highly advise buying a USED 2005 V-6. You can fix it up at your leisure, learn proper mechanic abilities and if the bug is still in you try getting a '67 fastback and fixing it up. By then you won't have to wait 6 months just to buy a car!
yes, i still have my car. ive had a couple others for winter and whatnot, a 98 sunfire gtx and a 89 jeep yj. but i got my 5.0 at 15 and rebuilt her, and i haent crashed or anything to it....but yeah, most kids cant handle the power, i know i dont let my friends drive it because i just dont think they could.
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Old 08-13-2005, 10:10 PM
  #19  
Moopher
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Default RE: Having a dilemma...

Everything's circumstantial when it comes to situations like this anyway. I guess it'll be a wait and see kind of thing.
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Old 08-13-2005, 10:32 PM
  #20  
rygenstormlocke
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Default RE: Having a dilemma...

Good for you for going for a stang, and it sounds like you are doing proper research which is more than most guys at your age. For me, it wasn't because of the cost of the GT, but the insurance. I mentioned in another post that for me, a GT would have cost around 130 more a month in insurance. The V6 is something like 30-40 more a month, (which is much better for me, got 3 kids) it was logical for me to go with the V6. I had too many tickets. I live in the DC area, and I don't have any speeding tickets left on my record, but I got several parking/hov tickets, which they started taking points for. It sucks royally!!!!

But that was for me, your situation is different. Make sure you got the insurance angle covered, as for gas milage, the V6 and the GT have nearly identicle gas milage (3 mpg difference, despite popular beliefs by us V6'ers out there). Also, call your insurance company, find out if they offer a student discount. Sometimes all you have to do is as little as 2 classes a semester at a community college if you are not attended a 4yr school. Same goes for financing, being a student with perfect credit can be a good thing and some dealerships have first time buyer programs. Either way, you will love the mustang. You may want to get a V6 though, if you put 10K down on it that should bring your payments down in the $300's, then you can mod the hell out of your ride. Getting the V6 to 250 horse is doable. Or go for the GT, just do all the math.

Either way I love my Mustang, it has plenty of pick up and it can go (even for a V6). This will be my commuter car while I hunt for an old 67 to restore over the next 3 years.
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