roadrunner1659

I posted this in the NEWBI section but there are more people in this section so i post here!

Right now i have an 03' Mustang V6...it was my dads lease that i took over...anyway...i'm very very interested in the NEW MUSTANG and i'm looking towards getting a GT... i have to wait until apr. 07' when the leas on the 03' is up. As of right now i pay 285 a month and 2,200 a year on insurance.

How much a month will a GT cost if it is being finacned to own!?! Also, how much will insurance go up?

THANKS!

BlackB-U-TEE_06

hi Roadrunner,

I previously owned a 1998 v6 stang, and about 3 months ago bought an 06 GT.

I bought the 98 v6 used (bought it in 98, and it's a 98, so not many miles on it). i bought the v6 outright, so i didn't have any payments (except for one big one up front). my insurance on the v6 was around 1200 a year.

I put about half down on my GT, took out a loan for the other half at 4.9% interest - my monthly payment comes to about 285 a month. not bad for a GT, but then again i put an assload of money down on it. my insurance only went up about 200 bucks a year, so now i'm paying close to 1400 per year for ins.

keep in mind, the more ca$h you put down on your car, the less your payment is going to be, which means you'll end up paying less for your car in the long run. the bigger your payments are, obviously the more you'll pay in the end. i got my car with all the bells and whistles for about 31,000 out the door (including tax, license, registration, etc.). i'll end up paying a couple thousand over that price due to interest alone. do yourself a favor, and get the best interest rate you can, because even if you get the car for 30k, count on paying at least 1000-2000 (or more!) in interest over the amount of time you have your car.

roadrunner1659

Thats why im getting some ideas about it now...the lease on the 03' is up in 07' but i'm going to be snagged on it b/c im not going to be able to give it back to the dealership...its a 60k lease and rightn now im at 47k with over a year to go and i travel about 80 miles a day back and fourth from college and work so i will be way over the mileadge maybe by 10k and i'm not paying that...i'm hoping that someone in my family will take over the car and buy it outright...the car is in AMAZING conidtion b/c i keep up on every mechanical thing that need to be and being a detailer for LEXUS...i can keep the paint FLAWLESS!

Any idea for making the most out of my 03' for obtaining an 07' GT?

Also, i'm hoping to put anywere from 5 to 7 thousand down...the only thing that worries me is that im in college...i'm curretly making about 1 k per month and that is about the best i can do while im in college (2 years or so remains)...

roadrunner1659

everyone is looking and no one can give me advice?