Buying a Mustang

mcgodx · Sep 8, 2006

Hey guys, new to the boards....

I've been browsing the website for a while now, and have developed an appreciation for the Mustang.

Before now I was looking at LS1s, but decided that the insurance is just a little too much (about $600 more a year).

At any rate, I found an '01 Mustang (I'm only considering '01-'04s... simply because of the small changes Ford made in '01... just personal preference) that has 87,000 miles on it for $10,500. It looks to be in good condition, and has the Mach 460, 5-speed, cloth, gray paint (not sure what Ford calls it), a King Cobra clutch, and Mach 1 chin spoiler.

Would you recommend something with as many miles for a daily driver? I found another car that is an '04, in about the same condition that has 45,000 miles on it, but it is about $13,700.

I like both about the same, which is why I'm kind of wanting the '01 more assuming the 87K isn't a problem. I'd like to keep my payments pretty low... lol.

Thanks for all your help.

DocG · Sep 8, 2006

From what I've seen around here, that price is a little high for the 01 with those miles, considering its not leather or anything. The high miles may not be a problem, but it sounds like the 04 with 45k is a much better value for a few grand more. Sticking with the 01-04 is probably a good idea to get the PI changes.

mcgodx · Sep 8, 2006

Yeah, before this I was looking at SN95 Cobras (there's a really nice '97 one around here with 40K miles for 10 grand) but wow... insurance is still killer on those. More than an LS1, so I figured I'd be happy enough with a GT.

streethorse · Sep 8, 2006

the 04 sounds like a much better deal......... half the miles.......better resale
when you go to sell it. Not to mention the 40th badge (10hp)

mcgodx · Sep 8, 2006

I think I'll try to sell the woman on the '04. She's concerned that a Mustang (well, any used car, not to mention a sports car... not to mention a V8...) will be super unreliable, will have horrible gas mileage, will eat up all my money, blah blah blah.

I think she's wrong, but I'm not sure how to convince her of that.

I know a whole lot about f-bodies and I feel comfortable with them (minus the cost to own), but I know quite a bit less about Mustangs, so I'm not as sure about the reliability, gas mileage, etc.

CobraRed_96_GT · Sep 8, 2006

mcgodx said:
I think I'll try to sell the woman on the '04. She's concerned that a Mustang (well, any used car, not to mention a sports car... not to mention a V8...) will be super unreliable, will have horrible gas mileage, will eat up all my money, blah blah blah.

I think she's wrong, but I'm not sure how to convince her of that.

I know a whole lot about f-bodies and I feel comfortable with them (minus the cost to own), but I know quite a bit less about Mustangs, so I'm not as sure about the reliability, gas mileage, etc.

Milage isnt bad at all untill you mod your car, stick with the 04; even my car had 85k miles on it when i bought it, and it was 7 years old...now 10

DTNODYA · Sep 8, 2006

Welcome to :SNSign:

04 FTW. Gas mileage for a Mustang isn't going to compare to a 4cyl Nissan Altima or something but also isn't bad like a SUV. IMO, a Mustang is about right in the middle. The reason some people's Mustangs get bad gas mileage is because of how we drive em'

Dragstr05 · Sep 8, 2006

I'd go for the 04. Only a few grand more, but half the miles. I bought my 00 a little over a year ago with 62k on the clock, now it has 85k, but to me is not a big deal. It has been reliable for me, no tranny or engine problems just a clutch issue that I will have resolved soon. Gas mileage is decent. I've driven cars that get worse. Highest I got was 29mpg average over 200mi mostly highway approx 65-70mph. They do pretty good till you start getting happy with the loud pedal.

mcgodx · Sep 8, 2006

Well I have a Ranger right now, it gets a steady 20mpg out of that little 3.0, are we talking better or worse than that? I could handle a little bit worse mileage but don't want a gas-hog, lol. I hears 24 or so but I don't know what kind of mileage that is. I don't drive toooooo hard.

madmatt · Sep 8, 2006

Just food for thought, but my car gets BETTER gas mileage since I put in 3.73s than it ever did stock...so its not like its getting crappy mileage. I get 20+ most tanks.

Give Me TP · Sep 8, 2006

mcgodx said:
Well I have a Ranger right now, it gets a steady 20mpg out of that little 3.0, are we talking better or worse than that? I could handle a little bit worse mileage but don't want a gas-hog, lol. I hears 24 or so but I don't know what kind of mileage that is. I don't drive toooooo hard.

That's the mileage I am getting with a Mach 1 with 4.10's, driven daily at around 80 mph. A GT will probably be a little better than that, maybe 22-23 mpg on average.

mcgodx · Sep 8, 2006

Well apparently the 01 got sold anyways.

2013 Geee T · Sep 8, 2006

I averaged 21 mpg when I checked milage

mcgodx · Sep 8, 2006

Here are a few pics of the '04 I am considering.

Firemanz · Sep 8, 2006

Looks clean man. Good luck on your decision. I'm on my 2nd stang now....

BlackenedSVT · Sep 8, 2006

You can get a nice 02+ GT for about $11-14k if you shop smartly. (try and stay away from dealers as they tend to overcharge and wont budge on their rediculous prices). Also, WHATEVER car you get, make sure the tires have tread, the brakes are good and thick, the car drives nice, etc etc. Dont wanna spend a lot of money on a car and then have to dump a grand into repairs a month later. Just a heads up.

Good luck looking. If you find some cars u think you like, post some pics on here and we'll help you pick them apart. We know whats good and whats not

Also, try to stay away from cars with more than 60k miles on them

mcgodx · Sep 8, 2006

Yeah I hear you on the ridiculous prices. I found an AMAZING GT (a 2002 I think) with about 30K miles on it. It was in Sonic Blue.

He wanted $20K for it

mity2 · Sep 8, 2006

ha IUP nice

mcgodx · Sep 8, 2006

IUP? I feel dumb.

BlackenedSVT · Sep 8, 2006

I bought my 02 GT 2 years ago back in 04 for $16k total and it had 27k miles on it. The car was $15k but after tax and all that BS it was 16 out the door. I drove to Mass to pick it up and drove back to jersey with it. I acutally traded my last 98 GT in + cash for that car, so it only cost me $9k technically. My GT now probably would only sell for $11 or 12k though So dont get haggled into paying rediculous prices

Good luck hunting ur ride down

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