Need some advice? Build or wait for 2015?

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04-09-2014, 12:45 AM

#11

GCCBrian

1st Gear Member

Thread Starter

Join Date: Jul 2011

Location: California

Posts: 149

Quote:

Originally Posted by Derf00

I would never mix family and finances, Pitching in to help buy a family house?

Unless there is an ironclad agreement in place that states how/when you get your money back or what the expectation is for your part of the investment, I wouldn't do it.

As far as saving your money vs buying new...that's up to you. I can't see giving a 16 yr old a GT without having them put some of their own money into it otherwise, it may end up wrapped around a telephone pole shortly after they take ownership or worse, they hurt themselves or someone else.

Yeah that's why I may just end up building it. I worked my a$$ off, 3 jobs, 7am-midnight 7 days a week all of summer when I graduated high school to get a nice down payment to get my payments under $300/month. I got about 3 1/2 years left so by the time he drives he can always take over payments. He'll appreciate it more when he's paying for it, especially the maintenance. I do all maintenance on my car at home and I appreciate everything I do. Hard to believe, but I don't beat on my car often, unless it's a car worth racing. Never had a ticket, knock on wood.

04-09-2014, 12:44 PM

#12

breathegood

2nd Gear Member

Join Date: Nov 2007

Location: CO

Posts: 439

If I had the cash to buy a 2015 without financing, that's the route I would take....but ONLY if it meant I didn't have to finance a single penny. The new chasis combined with the Coyote motor has some pretty huge potential, IMO.

Last fall I went through the "should I trade or mod?" dilema. What it came down for me was how much downpayment I was willing to part with to finance a reasonable monthly payment (no longer than 36 month term) vs. the one time cost of modding the car I already own outright.

I'm working real hard at eliminating all of my debts, and the car is a big one, so I chose to keep the Mustang. By the end of this week, I will be the proud owner of a 2007 GT/CS with a custom built, show worthy, twin turbo. I have every intention of keeping the car for at least another three years. By that time I'll either want to take it to the next level, or I'll have the cash to purchase the next new thing without having to go into debt for it.