FordFan24

So I am definately in the purchasing phase of buying a mustang GT.

I went and drove a 2012 5.0 GT yesterday and it was great. They were willing to give me zero down and I got a finance approval letter on the vehicle. However when they brought the paperwork to me it said $741.00 a month.

I pay $983.00 a month for my house, so there is no way that I can justify paying $741.00 a month for a car that will lose $15,384.00 of depreciation
value in 3 years. They brought the total down to 35k out the door. While I could swing the $741.00 by living really tight month to month I just can't see paying that much for a car.

Figure 741+ insurance is near my mortgage

So now my question is this...
If I want to buy a good used mustang and save $10-15k on the overall cost with much lower paymentsa nd get a much better resale value. What is a safe mileage for a good used mustang from 2005-2011.

According to various websites they say the milage and year should be somewhere within 10k a year and 3 years old. How accurate and recommended is this with a mustang gt? I like all body styles from 2005-2012, but all the information I have ready points to a 2008 GT.

They tried to sell me on a roush and a shelby too, but the truth is.
I can't see buying the most powerful model either, since it will be overtaken by a newer more powerful model the next year. For this purpose I have chosen the GT with shaker audio.

If I really want to save money I could get an 05 GT with 125k miles for 13k, but the mileage worries me.

Mpaint99

You must be upside down on your vehicle. $35000 @ 60 months should be around 600 a month with a low interest rate.

REDBOSS1

I don't know but the stealership is getting mine for 18k and I know they are going to probably get 22-23k out of it. I think you can find one with 40-50k miles for 16k-17k if you look real hard. Also I don't buy into the "well it's a mustang so you know it's been beat up" talk. I very rarely drive my car hard and it just passed the 30k marker, I don't think there is any magic number for safe miles.

MadStang40

Yea, I've had mine for 4 years and logged on 49k. That's about 12.5k a year which I've been told isn't bad. To log 10k a year, the owner must live within 3 miles of everything. I haven't had a problem yet with my car from a mechanical sense and some on this forum pass 100k without a breakdown. It varies from car to car and the previous owner's care so there's no magic number, sorry to say. When you buy a used car, get the carfax, test drive it first, and cross your fingers. Sounds like you're definitely not in the market for a new mustang though.

scottybaccus

Auto Buying 101: Know the numbers before you go in. Do not deviate.

I knew what I owed on my trade, I would accept nothing less than pay off.
I knew the price tag on the car, I would pay no more than Price tag minus $3k-$4k
I knew my credit score and current interest rates available to me. My existing loan was at X% and I would accept nothing higher than X -1%.

I walked out paying $10 less than my trade was costing me, with a lower interest rate for a total financed (including TT&L, etc.) that was less than the sticker price of the car. My payment is $365 a month.

That's a car valued at twice the value of my trade, for less money each month, on the same term, by getting lower interewst rates and making them fit the price of the car. If you demand a trade in value, but don't hold the price, the price just goes up. It's a shell game and you lose.

Discontinue with that dealer and go try again once you know all the numbers.

Personally, I don't get anyone wanting to pay $600+ per month on a car. I have better things to do with my money and the wimpy V6 has enough guts to get me two tickets in under a month! (my insurance went up $15 a month vs. my truck)