iMTB

Ok everyone here is the deal:

My Mustang was for sale for $15,000.
Buyer agreed on $14,500.
Buyer was only approved on a loan for $11,000.
Buyer has a 2000 Firebird Formula (LS1) with: 120k miles, auto, leather, power, t-tops, headunit and 2 subs.
Buyer offered to pay me $10,000 and add the F-Body in for my Mustang.

I owe $10,026 on my stang so essentially, this would get rid of all my debt and replace my baby with an LS1. I could drive the LS1 for a bit and sell it for like $6k, keep the LS1 and eventually make it into a drag car, keep the LS1 and eventually trade it in for the 5.0 GT.

Why?
I LOVE my Mustang. It has been the best car I have owned. Lots of memories in that car. So why sell it? I'm going into the Air Force this summer and have 2 cars. My Mustang and my Galant, the Galant is paid for and not worth selling. I plan on banking most all of my pay into an ING 3% compound interest savings account for a few years and eventually come out with a home doubling as my office, and possibly a new 5.0 GT with no payments or maybe financing a small amount for about 12 months. If I still own my current Stang it will set me back $10k to begin with.

What what you do in this position?

smythge

No brainer do it.

smitty2919

i know people love their cars, but in reality, it is just a car...yes i said it mustang lovers lol. these cars are all over the place. i think your head is in the right place. id say sell the stang, drive the LS for a little maybe clean it up then sell it for the $6K and keep the Galant for a DD

do your thing and come out owning a house/office and a new car....no brainer to me. there are bigger things in life than keeping cars, much like what you will be going through. i myself am looking into a engagement ring and to move from boston to KY so my modding and anything else has taken a back seat. im only 23, and would like to throw a SC and make my car badass....but more important things to do.

there will always be time to play with cars. Goodluck!

dr.apex

^^what he said

Chubstang

$10k plus an LS1 for your GT? DO IT!

gif4445

This really is a no brainer, especially based on the situation. Do it man, but get back to the Mustang world when you can!

rainydayracing

+1 - also echoing the perspective on priories (you have them in order).

teej281

Take the trade, sell the firebird(formula's suck) and just pocket that money and throw that in with the rest of your money that youre putting into a savings fund for when you get out. I would rather just drive the galant and sell the firebird...especially with that mileage and it being an auto.

JC316

I would take the 10K and the Firebird hands down. Believe it or not, the F body is a nice car. Nicer to drive and a much nicer ride than the Mustang. I have had both and I honestly like the F body better.

1fast 99gt

i had a guy wanting to buy my 99 gt with the blower for 14 grand i didnt do it though because i love to work on it and its more then a car to me, somtimes i wish i would have for a 03 cobra but i like to build the car up to make it fast not buy somthing that is already fast, but in your case just make sure the ls1 is in good shape you should be able to get 5k for it. so go for it.