When to stop investing money into the GT??

[N8Miller]

Maybe this is just some sort of rant, but I have been thinking lately about the money that i want to invest into my GT. The only thing it really needs is a new dash and some gauges. But I want the rear built well. I want a nice tranny setup. I would like a full tubular K member with coil overs.
I need new tires.

Basicly, where do ya call it a day? Just enjoy what ya have and be the end of it.

I do have a 1 year old daughter, so maybe in my 25 years of life, i am realizing that dumping money into the car instead of things to make her and my fiances life better is a bit crazy.

any imput?

 

[alanw6]

Uh oh. Sounds like responsibility is creeping in! Beat that back and go buy some mods!

Haha, just kidding. Priorities seem to shift all the time in life, and it sounds like yours are right where they should be. Just step back and take a look at the big picture, your stang will be there.

 

[Ozz]

Do one thing at a time and leave it alone in between. Absolutely no need to be without money for anything else, just throw spare/extra dough into the car and 'have it all'...eventually.

 

[hemi_fan]

When I plan to call it a day:

1200rwhp 351 dart TT motor punched to 427ci
5-ling griggs rear suspension
coil overs all around
mini tubbed with 18x11 rears with 335/40/18 tires
full coilover kit
completely redyed interior, rear seat delete, custom guages, full 12-pt roll cage, racing seats with 4-pt harnesses
whole bunch of other smaller details yet to be worked out.

Once I've got all that, then I think thats as far as I'll be able to go with my street car

Mods to date: Removed air silencer, Flowmaster cat back, 5-lug conversion... LOL, its a long road.

 

[RED2001GT]

I have responsibilities too. I am trying to get my business off the ground and I also have a 1 1/2 year old to worry about. The only thing that I do to my 2 Mustangs is the regular schedules maintenance. I haven't done any mods on any of them. I don't want to spend any money on mods just yet because both of my Mustangs are still on the 7 year/100,000 mile ESP Extended Warranty. When the warranty runs out, I would like to put a really loud Magnapack Catback Exhaust on my 2001 GT. I may also get the K&N Air Filter system.

As for my 2002 V6 Mustang, I am going to keep it completely stock with the exception of maybe getting some 17" GT Bullitt style rims and tires in the future. I really love the way the GT Bullitt rims look on the 99-04 wedge shape style Mustangs. There's no sense in spending money on modding a V6 Mustang when I already have a GT.
I would rather save my money than spending it on heavily modding my Mustangs. A car becomes a money pit after 4 to 5 years of ownership once the mileage hits above 40,000+ miles. Money has to be spent on things like tires, rotors, brakes, spark plugs and wires, and other major things which start needing replacement that can cost $500+ each time a major repair is needed on these cars.

If I were you, I wouldn't spend anymore money on modding your Mustang. You could put down a deposit in the future for a brand new Mustang just from all the money that you would be saving from not modding your current Mustang. You will never get the money back that you spend on modding you Mustang. Save your money and just spend it on the regular scheduled maintenance.

 

[tunedin302]

I have had my car since 94 and I continue to do mods .... one piece at a time. It is still no where near being completed but I do it because it makes me happy and doesn't have a negative impact upon the rest of my financial life. I know the money I spend on my car is money I will never get back.

If you ever reach a situation where you are buying mods rather than paying the mortgage or buying food for your little girl then you have to re-evaluate your priorities. You certainly don't sound like you're in that situation. My formula is first pay the creditors (mortgage, car, etc.), second put money into retirement (% of pay), third put money into savings (at least a minimum % of pay) and with what I have left = mod money for the mustang. Good luck.

 

[Mustang5L5]

When you start thinking about responsibilities is when it's time to make some changes.

I'm not talking about selling the car changes...but maybe laying back on new mods and stuff. Maybe set up a spare account for mod funds and put some extra cash in it now and then.

Family > Mustang anyday, but you don't need to give the car up completely

 

[Kabuki_notch]

Do one thing at a time and leave it alone in between. Absolutely no need to be without money for anything else, just throw spare/extra dough into the car and 'have it all'...eventually.

good advice I couldnt agree more

 

[iwashmycar]

eventually is the key word here

 

[Ozz]

Tunein302 said it perfectly. I said the more roundabout way I often don't realize what's common sense for my way of life isn't necessarily others' as well.

 

[stykthyn]

I try to squirrell away money when I can. usually about 30$ a week. that's how I bought my mustang. no need to sell the car just put money into it when you can. this is a full time hobby and I highly doubt you will ever be done. once you finish all the mods on your list you will be looking for more. heck, maybe even one day you kid will want to help you with it. I cant even pop the hood on any of my cars without my son there and he's only 5. now every weekend we spend a couple of hours on the mustang together. may be it will finally be done when he is 16 seeing as I have a $30 a week budget. I would take spending time with him over a shiny new hot rod any day

 

[stang22]

Our cars are not investments. Family first my friend.

Invest: To commit (money) in order to earn a financial return.

 

[Notchbck93]

Drive it and enjoy it for what it is... next thing you know you have twice invested what you could never get out of it.

Cheap mods are the fun mods. Ebay can be a place to get some decent used parts. Do your homework before hand.

 

[Strype]

I do have a 1 year old daughter, so maybe in my 25 years of life, i am realizing that dumping money into the car instead of things to make her and my fiances life better is a bit crazy.

Answered your own question

Congrats on the daughter

 

[QDRHRSE]

If you are ever short of cash for the family and you just bought something for your car- something is wrong.