MadStang40

I everyone. My oh my has it been awhile since I frequented this forum on a regular weekly basis.

I have a question for you all and of course, it's all about opinion...

Provided I pass, I will be graduating this December. I've been applying to positions all around the country and have had some responses so I plan on being employed full time in January. I expect to have 13k saved by the end of the year (Edit: 13k includes trade in value of car). After saving for a few months and building a cushion, I plan on having at least 16k in total to go towards the purchase of a mildly equipped used 2012 or even 2013 5.0

So ladies and gentlemen...

Option A) Save up and start looking to pull the trigger at a time where I have 16k to throw away yet still have a cushion. Then start the process of having car payments and buying go fast and look good goodies along the way.

Option B) Save up for _____ months and build up the cushion to a reasonable level and start purchasing mods so that I can have a non-stock 5.0 right after purchase (preferably at least a tune/CAI, mufflers, and wheels).

Option C) Keep the car stock (or near it) until completely paid off for

I'm looking for opinions from anyone and everyone who doesn't have clouded judgement from considering future car purchases!

baddog671

Well C would be the most responsible...but not the most fun.

What are you in school for?

MadStang40

Yea wouldn't it? Haha. Im going to school for mechanical engineering.

bigD1515

You seem to have a good head on your shoulders judging by this post and many others I've seen of yours, so I'd assume you're smart with money. Especially since you're able to save enough money already to get a good down payment on a new or slightly used 5.0. So I'd say pull the trigger when you get enough saved up. Mods will come along quick, and you know it I mean look at your car now, not much more you could do to it short of FI. One thing I would suggest is try selling it private party considering how much you have into it that won't even go towards trade-in value. I feel like you could easily get 15-20K with what you have there (not sure how man miles you have though). But good luck with your decision dude!

mayo

Bingo!!
I wouldn't do B just because you don't know what your purchasing yet.
Mod's always after purchase, not before...
I can't believe you threw C at us when you know, it ain't happenin

Warpig12354

C would be would be the most responsible option but as mayo said, we all know that's not going to happen lol I vote A

2007StangV6

How about:

Option D) Keep the car you have because it is beautiful!

But since your looking to upgrade, and you're a mechanical engineer, I would say you're going to be making a pretty penny. Having a car payment and buying mods along the way wouldn't be that hard, especially if you are responsible with your money.

I would go with Option A.

TomKat

i say go c first but once mod bug bites B FTW!

808muscle

I say D too. There are no guarantees in life. Your new job might not show up, pay what you think it does, living expenses and the sh*tload of taxes they will be deducting....... all that can fubar your finances. Keep your current stang as its already an amazing car and work for a year before you purchase anything. Not the fun answer your looking for but a smart move IMO.

Norm Peterson

Don't count your chickens before they hatch.

Get the job first, not just promises or hopes.

Then get the car.

Then drive it for a while so you can establish a semblance of a plan for your modifications. Stick to it as best you can, remembering that buying in haste or having stars in your eyes as you fill your electronic shopping cart frequently leads to buying twice.


I guess that's another vote for "D". Conservative, as you might expect from an older engineer.


Edit - it's OK to have some idea about the direction you're going to take, but don't even cast that in stone just yet.


Norm