Also, i'd be saving $1,700 on top of that because of interest... In reality, vs a straight buy - i'd be getting 18,700 for my car...

 

22,500 is WAY too much of a mach 1 and thats what you'll be paying after eating the balance on the fusion. thats termie or a nice s197 money. just my 2 cents.

 

I wouldnt do it. just being honest. I would keep that Fusion untill you cn get the payoff somewhere. 5k is a lot of money. if it would be for a GT500 or a Z i would understadn but for a mach1? I say don't do it.

 

well, shows how much i paid attention, but 20k+ for a mach 1 is to much unless its got under 20-25k.

 

you can find mach 1's for around 15k if you really look. if i were you i'd look for a better deal and sell the fusion yourself. you could probably break even that way. eating 5 grand on a trade-in is a terrible idea.

 

I am no $$$ advisor being 19, but if i were you I would:

1) Sell the Fusion privately before it drops any more in value. It loses 60% of it value in the first 4 year, I think.Also be carfule with those long-term loans, where the value of the car drop faster than you pay it off.Then buy a Mach from a private party.

2) Sell the Fusion, and buy a $1500 Taurus, pay off the Fusion,save your money, be patient, and try to find a 15K Mach. A 94ish Taurus could be driven for cheap, and not really lose value when you want to getrid of it. I would be done with the Fusion before you take on anything else. Also with the cheaper car, you now have time to look for the "perfect" Mach. Right color, miles, price, mods, etc. without being rushed orworrying about car payments.

 

You're way better off trying to buy and sell private party.

If not, go to carmax, they'll be the most up front about the deal - trade-in as well as sale price.

You can also, sellthe fusionat carmax, take the $ and go straight to the mach dealerand probably get a better deal than the current bottom line. Dealers love to jack w/ the trade-in/sale price sliding scale.

 

If you finance the the entire purchase price, there is no such thing. It would have to be a 1 year term!

Car are one of the worst investments out there - no way around it. That and computers.

 

Mach 1 isnt worth it. Id rather get an ls1 because of its price but 22k is waaaaay to much for a mach1. Try selling your car first then buy a mach 1. If you want a nice looking s197 I got one for ya

 

I'd have to agree with the rest of the guys broham. I bought mine for a hair under 24k three yrs ago when it only had 17k in miles on it, plus it was a one owner car at the time. I still think I paid too much for it, though at the time I was kind of in the same situation you are. The Mark VIII I had was going to need 6k in work done, on a car that I only owed 2k on, just to pass inspection. So I ended up financing a hair under 27k with the upside down and the tax/tags/title, etc. Not exactly one of the smarter decisions I've ever made, especially considering I probably could've gotten a WS-6 (that I actually wanted more than the mach at the time.. still do want one..) But I'd go with front loading a couple of payments and trying to sell it for more on your own, and using any overage to put down on the mach.. Possibly lower payments, and even a lower interest rate depending on how much you put down..