I just bought a 2012 mustang GT premium
- Thread starter Will3212
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went to all american ford too. got a premium 2012 gt with comfort for 31,600 (800 under invoice) for a car that was on the lot. they also threw in the service plan for fee.
wasn't too satisfied with the service though. very hard to get in contact with and poor contact throughout.
Or, you could actually put a substantial enough down payment on the car so you aren't upside down. In other words, if you could actually afford the car, then you'd never have "negative equity" in it. You couldn't afford 3 of those 6 new cars. Use your head, "I'm upside down on a car, so I know, I'll buy a NEW depreciating liability (it's not an asset or an investment, it's a liability) with another huge depreciation hit, and I'll "hide" the negative equity by rolling the extra $Xk I'm upside down on into the new loan because they are having a year-end sale so I somehow believe I'm making a smart financial decision because the negative equity will hopefully disappear into the year-end savings on the next one!" No wonder you people in America have such a credit crisis. Borrowing to the hilt on crap you flat-out can't afford. Save some money for a down payment, buy a car with enough down that you aren't eating out of a dumpster the day you drive it off the lot, stick with it for the 3-5 years until it's paid off, and after just 3-5 short years of paying it off, having had a substantial down payment, you should have MORE than enough to put a substantial amount down on the next one, that being the value of the car you own that is now paid off but still only a few years old.
No offense, but from what I've seen here, half the people in these new 5.0s on this site are ass-upside down on them and actually can't afford them. I've seen so many people rolling upside down loans from the previous $35k car they couldn't actually afford to begin with into these new 5.0s, like upwards of $6k-$7k negative equity. Yes, let's take a $41k-$42k loan for a $35k car that will be worth $30k before it ever rolls into my driveway. Talk about colossal stupidity.
If you are buying a $35k car, you need a minimum of about $10k down to cover TTL to more or less just break even after driving it off the lot. $10k really isn't enough though if you think about it, because even if you are even when you drive it off the lot, it's going to depreciate at the same rate or faster than your $500+ payment, particularly if you're planning to lose an extra X thousand by trading it in down the road rather than selling privately. $15k would better put you in a safe zone, and IMO would be the true minimum you'd need to put towards the out-the-door price on a new 5.0.
StreetsideStig
Active Member
- Feb 22, 2011
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I agree. I've never understood buying a car that depreciates so much at the stroke of a pen.
LAVAgt2012
Well-Known Member
I like how you think you know so much but obviously so little.....You're the expert when it comes to other ppls money when you don't know anything about there situation. Let's try this, just because you're suffering right now (you may not be but from reading your post you're, just maybe in denial at the moment) doesn't mean everyone of us that drives a new 5.0 is. I live a good life style, guess what I'm going to enjoy my money so if the means changing a vehicle at the loss of a few dollars guess what I'm going too. And personally, myself I perfer to buy new because I like to know what I'm getting into, not someone saying "never raced, great car, never smoked in, etc." But all joking aside, I do appreciate your psychic ability on knowing everyones financial situation off realing a couple basic facts about them....
Partially true, Ford isn't the only lease company out there. Take the rebates and lease from another leasing company. Also, the point of the lease wasn't to get low payments, rather to allow you to get a new car every 2-3 years.
Or if you want to be smart with your money; lease.
Or as Dale Carnegie said; "Buy what appreciates and lease what depreciates."
Putting a huge down payment on a car that you're only going to keep a couple of years is no different that pulling money out of your wallet and lighting it on fire.
SPCChavez
New Member
i saw somethign recently on the guy who got the FR Boss 5.0 #freakin0001.... the guy was kinda pissed cause he wanted it to be his daily driver, aaaaand now he cant lmao
All this talk of leasing? Interesting. But, I guess it's no more or less fiscally irresponsible than buying a brand new car every 2 years. "smart" and "lease" usually never goes in the same sentence. 
Sounds like some people need to pick up a copy of Dave Ramseys book..maybe a copy of "The Millionaire Next Door" while they are at it as well.
Sounds like some people need to pick up a copy of Dave Ramseys book..maybe a copy of "The Millionaire Next Door" while they are at it as well.
Who said I only keep cars for a couple years? The car we are buying the wife this fall is going to be her car for the duration of the payments, and the duration of the payments on my next car thereafter. We decided we never want more than one car payment, so when she gets hers, she has to keep it until both hers and my next one after that are paid off.
If anything, leasing a car is lighting your money on fire. Just look at all those leases that want you to throw $3k+ out the window at signing, and then another X hundred a month for the next 3 years, all the while having to watch your mileage and pay extra for any tiny ding or scratch, and not being able to mod your car, and at the end of it you've lost your cash and the vehicle, and you are usually trapped/suckered into another new car with the same manufacturer. Remember, leases are set up to make the dealer come out further ahead than you--everything is on their terms in a lease--their down payment, their predicted/modeled depreciation, their payment, their buyout (which is always far more than the car is worth, forcing you into another lease with them), their term length, their mileage limit, their return condition assessment, etc. Leasing is 99.9% of the time a horrible decision, unless you own a business and are writing it off.
If we followed Dale Carnegie, half of America would be leasing their houses.
All this talk of leasing? Interesting. But, I guess it's no more or less fiscally irresponsible than buying a brand new car every 2 years. "smart" and "lease" usually never goes in the same sentence.
Sounds like some people need to pick up a copy of Dave Ramseys book..maybe a copy of "The Millionaire Next Door" while they are at it as well.
Agreed, "smart" and "lease" do not go in the same sentence.
Both buying new and selling every two years and leasing every two years are terrible choices. That said, if I had to pick one of the two options, I'd buy every two years because then at least what I'm paying for isn't a rental and I can control the terms and do what I want with that vehicle in that time frame and drive it as much or as little as I please.
Yep.
Load up a lease calculator on one of the many sites..I believe bankrate.com has a few.
Leases are generally designed so that the person whom leases the vehicles pays for every bit of depreciation and then a considerable bit more via fees. This is why different vehicles have different lease factors, as some vehicles depreciate more than others. I promise you, the dealer is going to get every bit of depreciation from you, extra profit, as well as whatever other 'financing/leasing' type fees they can get away with.
If one gets a new car every 2 years, stays within a set amount of miles, and has no plans to modify the car...leasing sometimes works out to be a better deal than buying (check lease vs buy calculators). This often depends on the vehicle and how much they depreciate. With that said, you are getting bent over either way, due to the insane rate at which a new car depreciates the first year.
I just bought a 2007 GT with 23k miles, a Roush blower, and a host of suspension mods in *Flawless* condition for $19k (paid cash). Once used 2012's start flooding the market, I will likely look into a used 2011. By that time, 2011's will be less than 25k from a private party..ill sell my 2007, raid my 'auto fund' and pay cash for it. I wouldn't doubt I could likely even find a 2011 with a Roush or Whipple blower within that price range..give or take. Then I'll keep that car for a good 5+ years.
Anywho, the point is, one can pay cash for vehicles via the process of finding a decent deal, keeping an 'auto fund' and 'trading up' as well as avoid *insane* losses by purchasing slightly used vehicles. Just think of all the $$ most people have thrown down the drain over their lifetimes via financing charges on their vehicles and 1st year depreciation.
Load up a lease calculator on one of the many sites..I believe bankrate.com has a few.
Leases are generally designed so that the person whom leases the vehicles pays for every bit of depreciation and then a considerable bit more via fees. This is why different vehicles have different lease factors, as some vehicles depreciate more than others. I promise you, the dealer is going to get every bit of depreciation from you, extra profit, as well as whatever other 'financing/leasing' type fees they can get away with.
If one gets a new car every 2 years, stays within a set amount of miles, and has no plans to modify the car...leasing sometimes works out to be a better deal than buying (check lease vs buy calculators). This often depends on the vehicle and how much they depreciate. With that said, you are getting bent over either way, due to the insane rate at which a new car depreciates the first year.
I just bought a 2007 GT with 23k miles, a Roush blower, and a host of suspension mods in *Flawless* condition for $19k (paid cash). Once used 2012's start flooding the market, I will likely look into a used 2011. By that time, 2011's will be less than 25k from a private party..ill sell my 2007, raid my 'auto fund' and pay cash for it. I wouldn't doubt I could likely even find a 2011 with a Roush or Whipple blower within that price range..give or take. Then I'll keep that car for a good 5+ years.
Anywho, the point is, one can pay cash for vehicles via the process of finding a decent deal, keeping an 'auto fund' and 'trading up' as well as avoid *insane* losses by purchasing slightly used vehicles. Just think of all the $$ most people have thrown down the drain over their lifetimes via financing charges on their vehicles and 1st year depreciation.
LAVAgt2012
Well-Known Member
Right on, about the most intelligent thing I read on this post today from all the nonsense that got added....You post 1 comment and everybody knows your life story
gotta love it. I tell you what when you see me trying to collect off the government for food stamps, housing, etc....Then there may be a problem with my lifestyle, but some ppl are smart enough to manage a proper debt to income ratio. Oh yeah and for all those assuming negative equity was involved in the mustang purchase, do yourself a favor and follow forum ettique rules and you wouldn't sound so retarded before you tried to get your post count up If you would of looked where it started my 5.0 had a MSRP of $38,500 which I mentioned I paid 37.4k out the door meaning the car costed me 34.5K does it sound like I traded in a vehicle for a loss ???? Obviously not, but hey all you future financial advisors, good luck 
FordCustSrvc
Active Member
Hi MJTShowdown,
I'm sorry to learn of your less-than-ideal buying experience. Please PM me if there is anything specific you would like to discuss. Enjoy your new 'stang!
~Natasha
All this talk of leasing? Interesting. But, I guess it's no more or less fiscally irresponsible than buying a brand new car every 2 years. "smart" and "lease" usually never goes in the same sentence.
Granted, leasing is not for everyone. But if you want a new car every 2-4 years, and a lot of people do, then leasing is the way to go.
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