Cheap Bluetooth Solution

Hey guys, looking to do my first mod to my new (to me) Mustang. Going to start with something simple. I have been eying this Bluetooth unit on Ebay which runs $23 after shipping. I am looking to install it underneath the center console and wire the 12v power source to the cigarette lighter, and the 3.5mm audio output to the preexisting aux jack.

This should give me full Bluetooth support, as long as I don't try using the aux jack while using Bluetooth. Hopefully the 14v or so that the alternator is putting out when the car is running won't be an issue, otherwise I might need to throw in some extra hardware.

Has anyone tried doing something like this before? If not, I'll throw together a write up with some pictures if everything is successful.

This would allow me to sync any Bluetooth capable phone with the device, and transmit audio from my phone directly to the car stereo using the preexisting aux-in. Since I have a dash mount for my phone, running a 4 foot 3.5mm cable to the center console is really ugly. Also, I use my phone as an audio source a lot, so I'm always replacing the 3.5mm cables because the internal wires break, or the plug ends gets worn. With these new smartphones out there, I have access to over 500gb of music on my remote server at home, so I rarely use the actual radio for anything other than NPR.