Almost bought a Mach
04-29-2011, 09:14 AM
#1
Almost bought a Mach
I almost got a crazy hair and bought a 03 zinc yellow Mach 1. What has held me back is my current loan on my 02 gt 
lol. If I were to trade in my car and add the price of the mach, I'd be looking at a total of 17-18 k. If I didnt get such a high interest rate on my 02 to begin with, it might have looked a little better(interest rate was 12.5%). I know thats high, but I'm young and my gt was my first real start on my credit history. I was lucky to have gotten the loan in the first place. I've made up my mind that I want to pay my car down quite a bit, if not pay it off, and get a mach or termi. I'll be looking at about 20-24 hrs of overtime/week in july and august and all that will go towards my car. I want a 4v!
lol. If I were to trade in my car and add the price of the mach, I'd be looking at a total of 17-18 k. If I didnt get such a high interest rate on my 02 to begin with, it might have looked a little better(interest rate was 12.5%). I know thats high, but I'm young and my gt was my first real start on my credit history. I was lucky to have gotten the loan in the first place. I've made up my mind that I want to pay my car down quite a bit, if not pay it off, and get a mach or termi. I'll be looking at about 20-24 hrs of overtime/week in july and august and all that will go towards my car. I want a 4v!
04-29-2011, 11:35 AM
#2
Good move on not rolling your car into the loan. Once you get upside down a vehicle value it is so hard to recover. When I was younger I did this and I think I was upside down on the next 3 Vehicle purchases because I just kept rolling them into each other. I finally got ahead of the value on the cars and told myself I would never ever do something like that again. And it is so much easier to buy cars now no stress of will the bank give me the loan no Gap insurance etc. etc.
04-30-2011, 05:15 PM
#9
well, I found a local dealership that will take over my loan and let me start fresh on a different car. There looking for a 99-04 stang lol. I want a stockish one. I like mine visually and all that, but Its not in the condition I want. I'd like lower miles, and a 9 out of 10 paint job, mines a 6 or 7. I asked the dealer if he could give me a 5 year loan if he could find me a mach, and he said he should be able to. So hopefully he finds me a mach. Or atleast a yellow, sonic blue, or that brighter red(rio?) gt.
Its funny, while I was looking at stangs my wife said I'm dumb for trading mustangs and that I shouldnt do it. But as soon as she seen a bimini blue convertable, she said "I want you to get that one". She didnt even see the 22k price tag lol
Its funny, while I was looking at stangs my wife said I'm dumb for trading mustangs and that I shouldnt do it. But as soon as she seen a bimini blue convertable, she said "I want you to get that one". She didnt even see the 22k price tag lol
05-01-2011, 08:54 PM
#10
1st Gear Member
Join Date: Mar 2010
Location: AL
Posts: 55
good choice passing on the Mach, 17-18k puts you in cobra territory! Just make sure you don't get in over your head with a loan, a 5 year loan on a 7-10 year old car is a little risky for lenders and they may try to give you extremely high rates again!