pdonket

I agree with some of the advice in here, that at 23 I think you should focus on balancing budget with enjoyment of a car. I'm a young guy myself and honestly I did see a GTCS that I thought was gorgeous on the lot of one dealer but the sticker was just too high for me at this point in my life. The goodies and accessories are nice but you have to remember that it's stuff you can easily live without.

I grabbed my stang for 33K + TTL which with all of the things you'd be putting down toward the car, would make the loan even more affordable and the car is still a really nice car. Yeah, maybe no glass roof, rear camera, etc but i dunno about you but in the early 20s i don't see as many of the perks of those things. Those are the kinds of things that maybe when I'm middle aged and having a crisis I'll find the money for, but right now...not really needed.

Maybe it's just me, but I'd rather dig a shallower hole into debt than have some extra niceties on an already nice car.

Nuke

Too often young buyers have 2 things going against them:

1. impatience - you have new Stang written all over your forehead and they can see that coming a mile away. It's like an aphrodisiac or bling to a baby; you'll pretty much sign your life away for that beauty.
2. inexperience- Not knowing how to handle yourself and insisting on starting the dealing on invoice vs sticker puts you immediately at a dissadvantage. The salesman is working for the sales manager, not you. Sometimes you have to be a ***** but any dealership has the ability to sell you a car at invoice. It just depends who has bigger *********.

I bought a new SUV 2 years ago. It stickered at a little over $35k with no other mark-up. I offered $28k. They came after me twice as I walked to my car to leave, not to mention how many times they kept counter-offering and insisting they'd have to talk to the owner. I paid $28k.

And I have been asked to leave more than one Honda dealership. I'm quite proud of that.

hoodlum54

Thanks again for weighing in nuke (and everyone else)! I really do appreciate the input. For the guys saying "do you want that high a car payment" and "do you need all the nice features on the car"....here's my answer and reasoning. I figure the 5.0 is basically at LEAST 28k (more like 30) for the basic model. I really wouldn't spend that much on a car that doest come with leather, so now you're talking 30ish for the premium pack, and if you're gonna spend that much, you might as well just get the car you REALLY want. LOL. Maybe that's naive (or immature, or just plain dumb) but I mean, I really would always regret not getting some of the nicer features. Maybe not glass roof, that's whatever, but GT/CS or at least the premier upgrade interior is a must. Idk, esp with the x-plan a lot of the more expensive options really aren't that much @ invoice. I don't think 38ish for this kinda car is unreasonable. I think it's a great value. Plus, those other nicer features make the car more fun when you're not pedal to the metal, and driving is my favorite thing to do. Lots of people laugh when I say that (I'm hoping people on this forum can understand) but I'm serious. Driving is my favorite thing to do, and this is the car I wanna do it in. I've waited a long time, and I'm not arrogant or prideful enough to say I deserve it, but if it's within my means to get it (and it is - I'm really financially conservative, that's why I've waited for so long. I've been financially independent and tempted to buy on for 4 years) then why not?

As for nuke, OK, so, what should I tell the dealership/salesman? I want $5k for my trade in, I want the car at $1000 under invoice, free oil changes for life, free tires for life, and a 5 year bumper to bumper warranty? I mean, the dealership has to make money, I'm not out to take them for all they're worth, but what's realistic for me to expect do you think? Would an email like this to all the local dealerships be out of line. "My name is XXXX, I'm ready to order a 2012 Mustang GT/CS. I have a trade in (list model/year/mileage/basic condition) plus $2500 for cash down. The first dealership to offer me $5000 for my trade in, plus the car at $1000 under invoice will get me into their showroom to sign the papers THAT DAY. Call me at #xxxx".

Is that corny? Is that just not gonna work?

LostBoyz

I think it really boils down to is that are you willing to work an entire year of your life (more than actually with taxes) to buy a car and nothing else? I can tell you from my payments for a car that is half of my annual salary that they are rather large. I don't even have to worry about interest with the 0% financing and I got the car under A plan pricing.

I'm sure you would absolutely love the car, but you will be hurting financially that might make you love it less.

Nuke

Well loaded '11s have been had for under $30k. There's no reason to expect the 12's to be higher.

Do your homework and print-out your build with invoice and MSRP pricing. Decide what you're willing to offer, whether it's invoice or $1000 over in order to sound sincere and that you're willing to "toss them a bone". Since you're buying a popular car, offering below invoice is just plain stupid. If it was a sedan that wasn't moving off the lot, that's a whole other story. And don't forget that any incentives, your trade-in, etc. get deducted from THAT price. Be prepared for them to offer you dog crap for your trade. Stand your ground or meet them somewhere in the middle; it's up to you. It may take trips to 5 or 6 dealers. It may take one. Just be sure of what you want so you're not all over the place on price.

bigblue95z

I was 23 pretty much in the exact same situation with great credit, no outstanding debt, I got a 1% interest with only $1000 down for a 29.5k loan.