Decision..New '11 or keep '08***long***
02-04-2010, 01:46 AM
#1
Thread Starter
Join Date: Sep 2009
Location: Florida
Posts: 5
Decision..New '11 or keep '08***long***
Why is it everytime I get a new car, 1 or 2 years later they do a major upgrade?
Anyway...I have a 2008 GT that is very, very, very, low mileage and was paid off in June '09. I know I am lucky that I was able to pay it off quickly (Not trying to brag). I have about $3000 in mods done to it. No heavy engine mods yet and that leads to my question.
Should I get rid of this car and get an '11 5.0? From looking at resale value, the '08 is worth about 20-22k on trade and should retail for 23-24k. A new 2011 with the same option packages and a few extras will run 36k-37k (5K higher then my 08) on sticker and I can get X-plan for 34k.
From doing my math, I will have to make up a 10K (if not a little more)difference between my 2008 and a 2011. If you figure in the cost of the mods and me selling the mods on E-Bay at a loss, I'll add another $1500 loss to that total. So an $11,500 difference.
I think for about $7,500 in the right mods, I will be able to build a mustang that performs as good or better than a 2011. My wife is not for the trade up because she thinks the 2010-2011 rear is "out of place".
This may sound crazy asking this to a car forum, but I think we understand each other better because we are all Mustang fans, so.........
Should I keep the 08 or take the plunge for a 2011? I know I am not the only one with this question so maybe this post will help others
....and on a side note, while talking to my dealer. He seems to think clean low-mileage GT's will stabilize in value since the 2011 is so expensive and most likely will not have incentives at least a year. He wants my GT bad because he knows it will sell fast and needs nothing done to it. He also thinks GT's will become more rare since a 305HP (new V6) engine is good enough for most people. I disagree with the latter since most of the Camaro production is the SS.
I know I answered my own question, but give me your thoughts.
Anyway...I have a 2008 GT that is very, very, very, low mileage and was paid off in June '09. I know I am lucky that I was able to pay it off quickly (Not trying to brag). I have about $3000 in mods done to it. No heavy engine mods yet and that leads to my question.
Should I get rid of this car and get an '11 5.0? From looking at resale value, the '08 is worth about 20-22k on trade and should retail for 23-24k. A new 2011 with the same option packages and a few extras will run 36k-37k (5K higher then my 08) on sticker and I can get X-plan for 34k.
From doing my math, I will have to make up a 10K (if not a little more)difference between my 2008 and a 2011. If you figure in the cost of the mods and me selling the mods on E-Bay at a loss, I'll add another $1500 loss to that total. So an $11,500 difference.
I think for about $7,500 in the right mods, I will be able to build a mustang that performs as good or better than a 2011. My wife is not for the trade up because she thinks the 2010-2011 rear is "out of place".
This may sound crazy asking this to a car forum, but I think we understand each other better because we are all Mustang fans, so.........
Should I keep the 08 or take the plunge for a 2011? I know I am not the only one with this question so maybe this post will help others
....and on a side note, while talking to my dealer. He seems to think clean low-mileage GT's will stabilize in value since the 2011 is so expensive and most likely will not have incentives at least a year. He wants my GT bad because he knows it will sell fast and needs nothing done to it. He also thinks GT's will become more rare since a 305HP (new V6) engine is good enough for most people. I disagree with the latter since most of the Camaro production is the SS.
I know I answered my own question, but give me your thoughts.
02-04-2010, 02:37 AM
#2
2nd Gear Member
Join Date: Apr 2007
Location: San Dago
Posts: 338
Why is it everytime I get a new car, 1 or 2 years later they do a major upgrade?
Anyway...I have a 2008 GT that is very, very, very, low mileage and was paid off in June '09. I know I am lucky that I was able to pay it off quickly (Not trying to brag). I have about $3000 in mods done to it. No heavy engine mods yet and that leads to my question.
Should I get rid of this car and get an '11 5.0? From looking at resale value, the '08 is worth about 20-22k on trade and should retail for 23-24k. A new 2011 with the same option packages and a few extras will run 36k-37k (5K higher then my 08) on sticker and I can get X-plan for 34k.
From doing my math, I will have to make up a 10K (if not a little more)difference between my 2008 and a 2011. If you figure in the cost of the mods and me selling the mods on E-Bay at a loss, I'll add another $1500 loss to that total. So an $11,500 difference.
I think for about $7,500 in the right mods, I will be able to build a mustang that performs as good or better than a 2011. My wife is not for the trade up because she thinks the 2010-2011 rear is "out of place".
This may sound crazy asking this to a car forum, but I think we understand each other better because we are all Mustang fans, so.........
Should I keep the 08 or take the plunge for a 2011? I know I am not the only one with this question so maybe this post will help others
....and on a side note, while talking to my dealer. He seems to think clean low-mileage GT's will stabilize in value since the 2011 is so expensive and most likely will not have incentives at least a year. He wants my GT bad because he knows it will sell fast and needs nothing done to it. He also thinks GT's will become more rare since a 305HP (new V6) engine is good enough for most people. I disagree with the latter since most of the Camaro production is the SS.
I know I answered my own question, but give me your thoughts.
Anyway...I have a 2008 GT that is very, very, very, low mileage and was paid off in June '09. I know I am lucky that I was able to pay it off quickly (Not trying to brag). I have about $3000 in mods done to it. No heavy engine mods yet and that leads to my question.
Should I get rid of this car and get an '11 5.0? From looking at resale value, the '08 is worth about 20-22k on trade and should retail for 23-24k. A new 2011 with the same option packages and a few extras will run 36k-37k (5K higher then my 08) on sticker and I can get X-plan for 34k.
From doing my math, I will have to make up a 10K (if not a little more)difference between my 2008 and a 2011. If you figure in the cost of the mods and me selling the mods on E-Bay at a loss, I'll add another $1500 loss to that total. So an $11,500 difference.
I think for about $7,500 in the right mods, I will be able to build a mustang that performs as good or better than a 2011. My wife is not for the trade up because she thinks the 2010-2011 rear is "out of place".
This may sound crazy asking this to a car forum, but I think we understand each other better because we are all Mustang fans, so.........
Should I keep the 08 or take the plunge for a 2011? I know I am not the only one with this question so maybe this post will help others
....and on a side note, while talking to my dealer. He seems to think clean low-mileage GT's will stabilize in value since the 2011 is so expensive and most likely will not have incentives at least a year. He wants my GT bad because he knows it will sell fast and needs nothing done to it. He also thinks GT's will become more rare since a 305HP (new V6) engine is good enough for most people. I disagree with the latter since most of the Camaro production is the SS.
I know I answered my own question, but give me your thoughts.
1) the 4.6 motor is tried and true, a proven motor, the 5.0 is brand new which means there may be problems
2) the car is paid for
3) your 5.0 will be just as fast as everyone else's where as you can make your 08 stand out for the same money.
I personally would take that money and do forced induction which will put you well over the 400 mark and do some suspension mods to make it outcorner the trackpack.
my .02
02-04-2010, 10:25 AM
#5
2nd Gear Member
Join Date: Jan 2009
Location: Nj
Posts: 469
Keep the o8, you won't get 22k and have them sell it for 23k, they will want to make more then a thousand off you, trust me, every dealer ford or not offered me under trade in value and planned on selling my car for 16k (o5 CTS) I would keep it, or steal a 2010 if you want the better performance/handling (albeit very slight) and mod that to your hearts content.
02-04-2010, 03:27 PM
#7
2nd Gear Member
Join Date: May 2009
Location: Ohio
Posts: 257
I'm in the same boat. I have my 08GT/CS almost paid off and then I hear the news about the 412 HP in the 2011's. What really pisses me off is......why in the world did it take Ford this long to come up with a strong engine when GM has had the stronger engines since Henry Ford started making cars 
02-04-2010, 03:46 PM
#8
2nd Gear Member
Join Date: Apr 2007
Location: San Dago
Posts: 338
I'm in the same boat. I have my 08GT/CS almost paid off and then I hear the news about the 412 HP in the 2011's. What really pisses me off is......why in the world did it take Ford this long to come up with a strong engine when GM has had the stronger engines since Henry Ford started making cars
02-04-2010, 04:04 PM
#9
6th Gear Member
Join Date: Nov 2007
Location: Montaner
Posts: 6,193
It's nearly always going to be cheaper to keep a paid for car and put money into it.
Dealers are getting GTs with fairly low miles at auction for 13-14K. I doubt you'll get nearly as much on trade as you think you will. If you do then you'll be paying MSRP and possibly more over that on the '11.
peetiewonder that's true Ford has so far avoided bankruptcy but mustang owners get a little tired of having the superiority of the LSx rubbed in their faces all the time. Ford went a very long time before doing anything about it and when they finally did with the 03/04 terminator they quit making it after 2 years.
Dealers are getting GTs with fairly low miles at auction for 13-14K. I doubt you'll get nearly as much on trade as you think you will. If you do then you'll be paying MSRP and possibly more over that on the '11.
peetiewonder that's true Ford has so far avoided bankruptcy but mustang owners get a little tired of having the superiority of the LSx rubbed in their faces all the time. Ford went a very long time before doing anything about it and when they finally did with the 03/04 terminator they quit making it after 2 years.
02-04-2010, 05:09 PM
#10
4th Gear Member
Join Date: Mar 2007
Posts: 1,249
These base gt's will never become rare. There are too many produced. I'm ashamed at ford for not letting us get into these new unique engine builds that they just somehow showup with. The new engines aren't a boost up, it's a w hole new buil. F u Ford.