Anxiety Over Purchasing First Mustang...rant

[jalex]

Hello, I'm a 23 year old male that's always wanted to own a Mustang one day. I have a comfortable job at Ford making 50k and will go up to 52,55,or 59k in the next month. I was eyeing the ecoboost mustang for starters. I did my research on what monthly payment I could afford to still retain some of my lifestyle with savings for retirement/etc, how much I wanted to get for my underwater Altima, and what I could cut out of my lifestyle to save more money. Went to the dealership, they gave me what I wanted for my Altima, only rolled over a 3 grand, but put down 1 grand to cut it down to 2. There's no way in hell I would have gotten out of that vehicle without rolling over unless I started making 1000 monthly payments or just staying in it for 5 years. In addition, there's no way I would have gotten the trade in value with that down the road.

I only have one life and I didn't want to risk 5 more years in that Sentra and see owning a mustang as something I could have done down the road. I've gotten so much hate from my friends that are like "save, save, save for retirement" or you don't need a mustang. Seriously screw them, they spend their money on ***** I would never do like my friend complaining to me literally has 4 dogs. I don't care about blowing 200 bucks every weekend at bars, I have a reasonable rent where I can walk to work, I have a 401k plan, I have a Roth IRA plan, I think retiring before 65 is overrated, I don't want kids, I don't care about owning a home before I'm 30, I have a travel budget, I don't care about eating out for lunch every day, and etc. This is how I was able to fit the vehicle in my budget, but people don't want to see that. Did I need a mustang.....no, but ***** that I only have one life. Was my decision really that dumb? Sorry for the long jumbled post lol.

 

[I Bleed Ford Blue]

Don't worry about the haters, they're just jealous. If you can afford it, and still pay your bills and save for retirement, then don't worry about it.
I got the same crap from the wife when I bought mine back in Feb, two days after the last kid moved out. So, yeah it was an empty nester present to myself.
I told the wife the bills get paid, the kids college tuition is paid, I didn't touch the savings so get over it.

 

[usaf_branham]

Hello, I'm a 23 year old male that's always wanted to own a Mustang one day. I have a comfortable job at Ford making 50k and will go up to 52,55,or 59k in the next month. I was eyeing the ecoboost mustang for starters. I did my research on what monthly payment I could afford to still retain some of my lifestyle with savings for retirement/etc, how much I wanted to get for my underwater Altima, and what I could cut out of my lifestyle to save more money. Went to the dealership, they gave me what I wanted for my Altima, only rolled over a 3 grand, but put down 1 grand to cut it down to 2. There's no way in hell I would have gotten out of that vehicle without rolling over unless I started making 1000 monthly payments or just staying in it for 5 years. In addition, there's no way I would have gotten the trade in value with that down the road.

I only have one life and I didn't want to risk 5 more years in that Sentra and see owning a mustang as something I could have done down the road. I've gotten so much hate from my friends that are like "save, save, save for retirement" or you don't need a mustang. Seriously screw them, they spend their money on ***** I would never do like my friend complaining to me literally has 4 dogs. I don't care about blowing 200 bucks every weekend at bars, I have a reasonable rent where I can walk to work, I have a 401k plan, I have a Roth IRA plan, I think retiring before 65 is overrated, I don't want kids, I don't care about owning a home before I'm 30, I have a travel budget, I don't care about eating out for lunch every day, and etc. This is how I was able to fit the vehicle in my budget, but people don't want to see that. Did I need a mustang.....no, but ***** that I only have one life. Was my decision really that dumb? Sorry for the long jumbled post lol.

Lol. Your post reminds me of myself at 23 when I bought my first mustang. The biggest difference was that I didn't have an upside down car payment when I got mine.

I was making far less money than you so I chose to get mine one year used. It was over 10k less than sticker. Awesome car and a lot of great memories. I just sold her 1.5 yrs ago.

I also believe that you only live once. Enjoy it while you can. Congrats on the new Mustang... should have gotten a GT though. V8 > ecoboost

 

[Ikeaman]

First off, retirement is followed by death...secondly, you have no retirement - you have no pension, nothing EXCEPT "promises" of future payment and/or repayment. All you have- literally- ar any given moment is what's in your pocket, house or driveway. We're all lucky the dollar has any value. Doubt that? Electronic currency can vaporize in s New York minute...

But the car you want, and of course save what you can. Haters are not friends, f'kem all, they are small people who's opinions are not worth your time. People i know with exotic cars are more than happy to show their prides and joy and are very generous and kind people.

Lastly, the Mustang is a very durable car, it will last as long as you need it to and will always have value.

Live, love, laugh- and enjoy the Mustang!!

 

[Thomas Brown]

Sounds like you just need to nut up and buy a GT. I personally believe it will retain its value over the ecoboost and the fact that you're buying brand new and already rolling 3k into ANOTHER loan tells me you're making a bad decision because you're going to find yourself in the same boat with an underwater car