I have this 2000 GT that I probably owe 6,500 on. I'm making these 200 a month payments and insurance is raping me at 1000 every 6 months. My ultimate goal is to get a terminator when I graduate by the end of summer 08 or sometime shortly after that before they get crappy. Should I sell my car now and buy some 94 5.0 or something to that effect and just start saving? I'm a little lost and don't know where to turn:SNSign:
My financial situation
- Thread starter dave_id
- Start date
the98stang
Active Member
Well if you sell the 00 for 10 grand (which is probably its value) buy the time you pay it off, you'll pocket 4 grand. You could buy a really crappy honda for a few grand, pocket some cash and start saving. At this point I think you are better off keeping your stang, and saving your money.
BurningRubber
10 Year Member
- Dec 6, 2004
- 1,865
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Id keep the GT and skip the Terminator. The difference in cash between selling your GT and buying an at least $22k Cobra is ALOT of money you could have on incredibly bad GT.
Kingcater
New Member
$1000 for 6 mons of insurance is rape? When I was 18 with no driving experience and I had a 01 GT I was paying almost twice that. $300 a month for your car and insurance is a pretty sweet deal.
I'd keep the GT and save up for the Termie, then When you can go balls out on the termie and still have a pretty quick car for a daily driver....
If you absolutely have to sell the gt, don't go blow the profit on another older mustang you may or may not get your money back on when done with it.
Buy some junker honda/toyota/nissan for $500-1000 pocket the rest and save and have a nice down payment + extra cash to mod the cobra quickly....that's what I would do......good luck
I'd keep the GT and save up for the Termie, then When you can go balls out on the termie and still have a pretty quick car for a daily driver....
If you absolutely have to sell the gt, don't go blow the profit on another older mustang you may or may not get your money back on when done with it.
Buy some junker honda/toyota/nissan for $500-1000 pocket the rest and save and have a nice down payment + extra cash to mod the cobra quickly....that's what I would do......good luck
Kingcater
New Member
Why not make your life goals about something more substantial than what Mustang you are going to get? Do you want to get married, own a house? Do not load yourself up with auto debt as soon as you graduate... You will need money for other things.
Drive a Honda Civic until you are well established in life and then get whatever Mustang you want
yeah that is a thing to consider, filling myself up with debt to my eyeballs.. something I dont plan on doing. i don't know where or what I will be doing as a career, but I dont want to get stuck like my friend and work the best buy even though he's got a degree, so owning a house comes later when I figure out where I want to live...and marriage, bleh who needs it 
thanks for the responses though, helps me think about things
thanks for the responses though, helps me think about things
I was in a similar situation when I was in College way back. IF the payments and insurance are killing you, I advise you to wipe out all debts including the stang and get what you want later. It sucks balls to be car-poor in college. Sell the stang, get a clunker and graduate with minimal debts. Good luck.
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