Keep it, or trade it in?

Sparty92 · Aug 5, 2010

I was at my dealer tonight, just tickling the idea of trading in my 2007 GT. I have 2 years left on my loan before it's paid in full.

I have 55K miles on the clock. The car is clean. They offered me $15.5K on my car to get a new 2011. The price for a new 2011 5.0 manual, 3.73, premium 401 package...is about $26/month more than what I pay now.

On my current car:
1. My car has not had the spark plugs changed yet.
2. I noticed some small bubbles/orange color on the inside of the driver's door down at the door skin seam the other day.
3. Basic maintenance will need to be done: brakes, coolant, etc.
4. The clutch has at times, a bit of finicky action due to all the stop/go miles I put on the car. Not a huge deal, but may need attention at 80K miles?
5. The familiar 1-2 crunch when it's cold out (until it warms up!)
6. The hood flaps at 80+ mph

So when I look at all the "issues" with my car...they aren't really "severe," but the 2011 offers many things upgrade-wise that I would like on my current car:

1. 100 more HP
2. Better suspension (Lower and well-tuned)
3. Nicer interior
4. 70 lb-ft more torque
5. "Better" fuel economy
6. 3.73 gears

My honest opinion on this whole matter is that I'm really not swayed to either choice.

Given the economy, being paid off in 2 years is pretty appealing. I was thinking that if I add 4.10s and a CAI/Tune to my 2007, that should wake it the hell up and I'd be smiling again. And those are pretty cheap mods.

For the record, I'm single, no kids, no mortgage, no drugs, alcohol, no golf, no gambling. See my point? I like cool cars.

What would you guys do?

Thanks.

Wraith413 · Aug 5, 2010

Until you have a definite opinion either way, I'd stick with what you have. Then when the 50th Annv. comes out, you'd have a paid off car to trade.

astronut1885 · Aug 5, 2010

I say start modding on it now, and once it's paid, off, make it YOUR cool car. Get some body mods done, add a cam/head/intake package and make 5.0 power once the loan is done. Add a complete suspension kit and make it handle better than the new '11 in it's sleep. About the only thing you really can't match or outdo is the interior in the '11. Get a little more fun out of the car with things like a CAI/tune, gears, and some small appearance mods like a chin spoiler while you are paying it off to keep you from wanting to trade it in on a more potent car. Once the car payment is done, really start investing in whole systems upgrades, like a Roush suspension package for $1200 and make it handle like a champ. Sometimes making the car handle a lot better makes it feel a whole lot more powerful because you can use the power you have. Look into some nice brakes. By the time you are done, you will have a personalized and paid off 07 that will easily hang with the '11 and you will have spent far less money.

Sparty92 · Aug 6, 2010

Ok....

Soooo...I test drove a 5.0 stick vert last night. Not impressed. Soft. QUIET...but a nice car. I was hoping to be scared when I drove the car, and I wasn't.

Today, I drove a cloth 5.0 coupe stick. You can at least hear the car now, but it's 1/2 as loud as my car with Roush mufflers. The sales chick said my car sounded WAY better. I chirped the tires through 3rd, but the car is so refined, the speed is deceptive.

After talking with the sales chick about the fact I have 2 years left on my loan, etc...she said "I wouldn't buy the 5.0. Your car looks great! In fact, I like it better!"

So, after consulting with a few of my peeps, I've decided to keep my car. All I need are 4.10s and a CAI/Tune to change the attitude and street driving will be more of a blast than it is now.

"No matter what you brung, you didn't bring enough"....a common phrase I utter to my buddy as we watch the cars on Woodward Ave. And it's true.

The Fang · Aug 6, 2010

Yeah you can beat yourself up all day with the pro vs cons but you are so much better off to finish paying it off like wraith said equity in the end is the key.

russ1979 · Aug 7, 2010

if i was in your shoes i would trade it in

klaw · Aug 7, 2010

Do a few mods now - gears, tune. Pay it off then mod the hell out of it later (Whipple HO, forged shortblock, upgraded clutch). It'll be your car and it'll kick N/A ass.

BADDAZBLUE · Aug 8, 2010

Sparty92 said:
For the record, I'm single, no kids, no mortgage, no drugs, alcohol, no golf, no gambling. See my point? I like cool cars.

Hah! You just described me. I'm under 30, and the same way. Although I'm not Single (not Married though )

I was gonna say to trade it in. Especially with your car needing some pretty substantial $$ thrown at it soon. And are you saying that your 2007 is starting to rust? That's horrid, I'd take that to Ford asap.

Here's how I see it, pretending you're anything like me: As long as you can afford it, you're always gonna be spending lots of money on cars. Be it monthly payments, or Mods, etc. etc. I feel that regardless of whether you buy a car out, or Lease it, if you're a car enthusiast, you're basically Leasing a car for life. Even if you buy it out cash, the amount you lose when you sell it VS the amount you paid, can be divided, equalling whatever the amount per month that would be.

If you're gonna keep your car for another 4+ years or so, for sure, I'd say then sure, holding onto it will be a much smarter financial move, as you won't be digging yourself into a bigger hole. And I'd probably recommend to do that.

However, if not, who cares about what the car will be worth in 2 or 3 years+, as it'll be worth little to no "equity" by then anyway, especially compared to what you paid.

If you can get get a MUCH better version of the car you already have for practically the same price per month, I'd say go for it. And don't worry about what the Sales Chick says, she'd be singing to the same tune once you cleaned and woke the 5.0 up.

One thing to consider, also, is indeed the new Body is coming out soon I believe, so maybe that's all the more reason to wait it out a couple of years.

STANGmole · Aug 8, 2010

I'd trade it.

In some ways the 2007 is a better looking car than the new ones (more classic retro keeping with the 65' style and nicer looking rear-end) but in other ways the 2011 looks better (more muscular, better curves, nicer hood and grille) and is a WAY better car in the fit, finish, soundproofing, handling, electronics, paint....etc etc. The luxury features of the new Mustang are big improvements (SYNC, auto headlamps, outside temp, etc) and it drives soooooo much better in my opinion.

Still...the economy sucks and having a car that's PAID FOR is a big plus!

TheVat · Aug 9, 2010

Your 07 looks really good. I'd save up for a house so you can garage that beauty.

Supermans · Aug 11, 2010

STANGmole said:
I'd trade it.

In some ways the 2007 is a better looking car than the new ones (more classic retro keeping with the 65' style and nicer looking rear-end) but in other ways the 2011 looks better (more muscular, better curves, nicer hood and grille) and is a WAY better car in the fit, finish, soundproofing, handling, electronics, paint....etc etc. The luxury features of the new Mustang are big improvements (SYNC, auto headlamps, outside temp, etc) and it drives soooooo much better in my opinion.

Still...the economy sucks and having a car that's PAID FOR is a big plus!

Agree 100%

Sparty92 · Aug 11, 2010

Thanks for all the replies...

I'm gonna keep it. It DOES look good (people tell me)...and I enjoy driving it. I kinda LIKE the fact that it's not all sissied out like the new '11 in terms of quietness and all that. It's a muscle car, not a luxury car with horsepower. The '11 is a better sorted car, but my '07 isn't that bad. It's not like I drive a Pontiac G6 or something.

The car is plenty "fast" enough...(105mph in 3rd gear), but I'd like to make it a little "quicker"...putting what power it has to better use.

As I drove home today from work and got on the gas a little, I figured the power was decent. So if I throw some 4.10s on there, and a CAI/Tune, I'm sure that will wake up this car quite a bit and quite frankly, is prolly enough for a daily driven street car.

Yeah, you can have 400-500hp on a street car, but if you can't hook it up when I'm next to you at the light, you could be in for a surprise. I wouldn't beat you, but you wouldn't crush me either. And that's the whole point really. There is ALWAYS going to be someone faster than you. The question is, how much $ do you wanna spend (and still lose to someone?)

I'm pretty happy with my car...so I'm gonna pay it off.

derklug · Aug 12, 2010

I spent too many years working on first year problems, I am holding off for the 2012.

5.0 Coyote · Aug 12, 2010

derklug said:
I spent too many years working on first year problems, I am holding off for the 2012.

You might be sorry you waited when you see the NEW look of the 2012,that is why I opted for the 2011 GT.
Coyote.

SSnakeGT127 · Aug 12, 2010

Sparty92 said:
Thanks for all the replies...

I'm gonna keep it. It DOES look good (people tell me)...and I enjoy driving it. I kinda LIKE the fact that it's not all sissied out like the new '11 in terms of quietness and all that. It's a muscle car, not a luxury car with horsepower. The '11 is a better sorted car, but my '07 isn't that bad. It's not like I drive a Pontiac G6 or something.

The car is plenty "fast" enough...(105mph in 3rd gear), but I'd like to make it a little "quicker"...putting what power it has to better use.

As I drove home today from work and got on the gas a little, I figured the power was decent. So if I throw some 4.10s on there, and a CAI/Tune, I'm sure that will wake up this car quite a bit and quite frankly, is prolly enough for a daily driven street car.

Yeah, you can have 400-500hp on a street car, but if you can't hook it up when I'm next to you at the light, you could be in for a surprise. I wouldn't beat you, but you wouldn't crush me either. And that's the whole point really. There is ALWAYS going to be someone faster than you. The question is, how much $ do you wanna spend (and still lose to someone?)

I'm pretty happy with my car...so I'm gonna pay it off.

Well those people know what the deal is, It really does look great Sparty,

I was sorta in the same boat as you not long ago, Once I heard when the 2011 GTs were coming in and all the things it was offering, I really wanted to get one BAD..... I still do lol.

And I kept pounding my head over and over If now was a really good time to sell my 05 GT for the 5.0. and I kept asking friends and people about from time to time and getting mixed opinions of trading it or keeping it.

But then later decided that I would keep my car as I'm pretty happy with it and it suit my need as it came with CAI,Tune, 4.10s right when I bought the car, but wasn't fully aware of all its mods til shortly after, so I guess you can say I got to use to it a little quicker than I should have.

So for now she all I need for right now but most certainly not done with her yet, as I paid her off, and with the few mods I have right now, lets just say I have give my fair share of surprises for a few 10' Camaro SS

1995cobraR · Aug 12, 2010

Sparty92 said:
They offered me $15.5K on my car to get a new 2011. The price for a new 2011 5.0 manual, 3.73, premium 401 package...is about $26/month more than what I pay now.

IMO, a monthly payment is a poor way to look at a trade. They offered you $15.5K for your old car, and they needed what for the new car? How much interest on the new loan package?

Your remaining thought process is very good.

Sparty92 said:
I'm pretty happy with my car...so I'm gonna pay it off.

I doubt it. You will buy one soon. You should just go ahead and do it. It's for the reasons that you posted:

1. 100 more HP
2. Better suspension (Lower and well-tuned)
3. Nicer interior
4. 70 lb-ft more torque
5. "Better" fuel economy
6. 3.73 gears

Why drive a slower car?

brycerichert · Aug 13, 2010

5.0 Coyote said:
You might be sorry you waited when you see the NEW look of the 2012,that is why I opted for the 2011 GT.
Coyote.

Plus 1 on that statement.

Riggs · Aug 13, 2010

They are going to change the body again for 2012?

Supermans · Aug 13, 2010

Riggs said:
They are going to change the body again for 2012?

sheetmetal change but keep the same frame? Perhaps but the new sheetmetal just came out in 2010 so at least up until 2014 it shall remain the same with some minor tweaks to the rear end fascia maybe which is most peoples main gripe with the new 2010 look..

Now whether or not at 2014 or 2015 will be the model year Ford brings out the new chassis is where the unknown comes in. In the past, the anniversary editions usually coincided with keeping the current body style and offering a special edition with embroidered seats marking the anniversary. Ford usually revises the chassis once every ten years or so and this will be no different. The 50th anniversary is coming up and the big question is, will it debut a new chassis or keep the current one.. I am betting it will keep the current one to celebrate its departure and keep the retail value of them high as they come out with the re-design the following year..

1995cobraR · Aug 13, 2010

5.0 Coyote said:
You might be sorry you waited when you see the NEW look of the 2012,that is why I opted for the 2011 GT.

brycerichert said:
Plus 1 on that statement.

Are you talking about this thing that looks like a Camaro?
View attachment 211649

Keep it, or trade it in?

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