Is this 2010 GT a Good deal?

03SonicStang said:

My father has been looking for an everyday Mustang and I'm thinking about leasing a 2010 GT Premium for him. I found a 2010 GM Premium, Torch Red, Brick Red Leather, Electronics Package, 373 Gear, HID Headlamps, Ford Racing Shaker Hood, 19" Painted Rims, Spoiler Delete and 5 Speed. I can lease it for 36 months, $ 384.00 month, 12K Miles and $700 Down

Deal or NO deal? Tom

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If you were to finance the car over 60 months your payment might not be too much more. Then you actually own the vehicle and don't have to worry about too many miles.

Personally I don't like leasing as I like to own but that is just me.

Greg

I don't believe you can buy it for that unless you put quite a bit down.

03SonicStang said:

I agree with you about owning as I own all my current cars. My father just gets bored quick. Not to mention he owns a 96 Cobra Convertible (stock with 35K Original Miles) and a 2002 Thunderbird (stock with 15K original miles). This Mustang will be his everyday car....lucky right!!

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Sounds like a great deal to me.
Does your Dad ever go on the Thunderbird site?
thunderbirdnest.com

Sounds like a great deal to me! What kind of Thunderbird?

stanmckinney said:

I don't believe you can buy it for that unless you put quite a bit down.

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You would probably need to put a few grand down but with that over 60 months, you wouldn't be much over $360/month.

Greg

$360 per month at 60 months is $21,600. I think for the car you are talking about you are talking about several thousand dollars down, emphasis on several. At 60 months and 0 percent, there is no rebate. The car mentioned probably retails for about $37,000 or so. At that, you are looking at $15,000 down.

The Ford dealers are dealing...they are doing their best to get rid of the remaining 2010's since the more powerful 2011's will be coming...most people are waiting for the new ones...so dealers are getting desperate in getting the 2010's off the lot!
In fact, you may want to wait and lease a 2011 GT instead, after all your father might not enjoy watching a 2011 GT leaving "him in the dust."

I have found a 2010 I would like to have. My dealer is not, in my opinion, dealing. He even told me the rebate was not high enough.

I've lease 4 Ford trucks. Leasing is good for trucks, because I can get a new one every 2 or 3 years and they retain their value fairly well, so if I do want to keep one, it won't be way upside down. I would NEVER again lease a sports car. To get to $360/month with only $700 down, the residual would be ridiculous. You would owe much more than the car is worth when the lease is over. Not a good position to be in, unless you turn it in with brand new tires, not a scratch and less than the allowed miles. Otherwise you will take a bath. A 2010 GT Premium lists at @$33,500. So if you put Tax, title fees, etc. down (About $2200 in Texas), you would be looking at around $525/mo on a 60mo. 0% interest deal. You can bet you will pay interest on a lease, but then you'll get the $2,500 rebate. So the rebate will pay your tax, but you still owe what you end up paying.

I would wait. Dealers aren't giving great deals just yet, because the 2011 GTs haven't hit the lot yet. Even then, look out, becasue the 2011s will be fetching premiums over sticker for rich guys who are dumb enough to pay it and have to have one right now. So, the rest of us who can wait a year or so and get a normal deal will have to settle for a 2010 GT. I doubt they will give away the GTs. Now, the 2010 V-6 Mustangs, there will be great deals to be had.

I ended up buying a 2010 GT candy red last week while the $750 private Ford money was still available.
I also got X plan. Ford has now increased the rebate $1,000. Thus, I would have been $250 better off to have waited until this week. But I am still pleased. The car had a sticker of $35,500. It was built about six months ago and the dealer wanted to move it. The car now lists for $36,000 because of a mid-year price increase. All that said, I got 3.7 percent interest and about $6,000 off the list price.
I would love a 2011 but I know there is not way I could get one for that.

Sounds like yiou got a good deal Stan. You are right, you won't even get close to that on a 2011.