I'm bad with my money and I really want to do this. The new 2018 Mustang is calling my name...

I bet if you wait six months you could save a lot of money getting one lightly used. Plus you'd have time to build up your credit even higher and get a better rate.

Personally I'd never agree to take six years to pay off a car, but then again I've never been in debt.

The Barton shifter is nothing compared to MGW

Nice driving around a rent payment. Enjoy your Mustang

>Would it not be a lot cheaper and smarter to finance a 1-2 year old one?
I want the 2018 improvements. Facelift, more torque, more horsepower, first year they offer magneride outside the GT350 package, and I want a new car for once. I always buy used and I finally want a new car that nobody's fucked with.

Monthly income is about $6,000 plus overtime, doubletime, the occasional bonus, etc. I have no rent or mortgage currently because I have a very fortunate living situation, allowing me to save up for a down payment on a house in the future. My combined bills excluding anything car related are about $300 a month, then tack on whatever food costs me per month and however much I put away in savings.

I want a new car though. I've always bought used and I want a car with no previous owner now. I plan to keep the car for about ten years minimum.

Debt doesn't bother me as long as it's manageable. I have the disposable income to easily support such a purchase.

Because I don't have to pay for rent or a mortgage right now (live in a nice apartment for free but pay utilities) it allows me to buy something I probably wouldn't be able to years down the road if I have a kid or whatever may happen in life. If I don't get what I really want just because it's expensive even though I could afford it, I feel like I'd regret it later. Maybe I'm just a potato idk.

I already have investments making me well over 3% per year, so a 3.5% APR or similar isn't an issue since my investments basically pay for that automatically.

Whats the point of a new car if all you can do is baby it instead of have fun with it?

You can get the performance stuff on the base mustang GT.
>but i dont want rental car interior
get a 340i and cry when people laugh at you for making 1wd burnouts

>OP lives with his mom and wants to buy a new Mustang.

OP here, this is my current DD I'd trade.

Because if you buy used there's a high chance the previous owner did not baby their new car and the break in process was fucked because of it.
Buying new allows you to baby your car for the first couple thousand miles then have fun with it, knowing your car was properly broken in and any and all service was properly done.

>$6000/month
>low expenses
Just go for it my dude

If my parents were still around I'd probably buy them a new car instead and keep my current C5. They'd definitely deserve it.

I want all the fancy shit included with the Premium though. The revised dash, heated and cooled seats, dual zone automatic climate control, retarded but awesome mustang logo door projectors, etc.

I've never had a new car before, and I want a top of the line car I absolutely love to death that I can keep happily for ten plus years.

You sound like you really want it and based on what you've said ITT it sounds like you can afford it, just go for it. Life is too short, you might as well enjoy it.

>I'm bad with my money and I really want to do this
>I really want to do this

That is why you're bad with your money.

Just STOP. FUCKING STOP. Go jerk off or play a videogame or watch a movie.

You're going to be poor for six years+

Funny cuz that's where the rape is. A mustang GT regular is what, 26k? And the premium adds what, a suspension kit and a shifter? That can't be more than 8k aftermarket for the equivalent. All else is interior doodads (plastic desu) and shit electronics priced at 20x their aftermarket value. I would never buy upgraded trims on any car used or new, though I do admit I have a fetish for designing my own car interior and electronics suite.

>You're going to be poor for six years+

>$6,000 a month income
>~$775 a month for car payment
>very little other expenses
How exactly would that make me poor?

>I'm bad with money
>Monthly income is about $6,000 plus overtime, doubletime, the occasional bonus, etc. I have no rent or mortgage currently because I have a very fortunate living situation, allowing me to save up for a down payment on a house in the future. My combined bills excluding anything car related are about $300 a month, then tack on whatever food costs me per month and however much I put away in savings.

So $6000 - $300 - $500(insurance+gas+maintenance on C5) - $300(food)=$4900
If you have about $4900 in leftover income per month that should be more than enough, unless you have less than that and there's something you're not telling us.

if you get sick or injured, you are fukt. also, spending that much on a car...in a few years you will have regrets.

Yeah a year or two ago I'd completely agree with you on designing custom interior and electronic doodads, but I just don't have the time for such things anymore. I have much more disposable cash now than I have disposable time, so I'd rather just pay Ford some crazily inflated price so I don't have to fuck with it. This is coming from someone who's first car was a 1982 Camaro Berlinetta with a built HO 350 swapped in and loved tinkering and spending time working on his cars. Now I just don't have the time. I spent so much effort getting out of my financial rut I was in for so long (well below poverty) I've now encountered the opposite problem. Now I have money but no damn time.

>if you get sick or injured, you are fukt.
Thought about that. I have an HMO health insurance plan through work with $0 deductible for emergency room stays and hospitalizations. $20 co-pay for doctor and urgent care visits. I have chronic pancreatitis since it was lacerated by shrapnel in a roadside bomb in Afghanistan, so medical care is one thing I don't skimp on.

That's about what I'm figuring too user. Maybe deduct a thousand from that for random expenses with video games, guns, or my other hobbies I struggle to make time for. I'd like to get back into hunting, but that just takes way too much damn time and energy for me at this point.

Oh I did forget to add the roughly $120 a month I pay for my department of education loan.

Regardless, I have such a disposable income that even if my living situation were to change and I have to start paying rent, I could still afford that extra $900 a month expense in addition to this car payment + insurance.

45k is too much to spend imo.

Buy some bonds with that money and invest if you so wish to move money around

With minimal money down I'm still able to invest my money every month in the stock market quite easily. I can take some losses and still be fine financially, since I'm not investing everything I have in the market.

That OP image is based off only $4,000 down which is basically nothing, and ~$775 a month seems perfectly doable for me.

Now the real question is how the hell am I going to convince my girlfriend to not go crazy on me for making this kind of expense? I better get her something really fucking nice at the same time, like pay off her credit card debt or something. Otherwise I'm fucked.

Maybe I'll explain to her that the Mustang has back seats and even features child seat restraints, while a child can't even legally ride in my current Corvette. She wants to have a single kid one day, so maybe that'll help her agree to this.

I bought a new car last year and i regret not having a car that i know someone else has fucked with and didn't cost too much.
I never do anything fun with my car because its expensive and i know im the only driver who has ever driven it which makes me feel like i have to take extra care of it

how do you lads know your credit?

I use Credit Karma. It's not a scam like I originally thought it was. If you use the free version like me you can only refresh every 7 days or so.

>500 (insurance+gas+maintenance)

>like pay off her credit card debt or something
sounds like she should have taken a lesson from you

Nah man when I was in college I wracked up so much damn credit card debt it fucked my previously perfect credit rating. She basically did the same thing, but with a higher credit limit and 29.99% APR which is fucking retarded. I paid off my credit card debt a few months after I started working after college, and she's still working on hers.

they seem to think im some person in texas instead with a mortgage and a car loan.... damn

buy whatever you want. Why do you need out input?

how old are you by the way? and in what field? i'm 21 going into law and i'm hoping to get a feelgood mustang or BMW M2 after education much like yours

>wanting the facelift
kys you irresponsible faggot. buy your house before you spend so much on a shitty car. You could get several interesting cars that have nowhere to go but up instead of just one depreciating asset.

I would not buy it new. But if you really want it new I would say put in a bigger down payment. and try to get the longest loan with the lowest rate you like. Just make sure you can pay it off early without any fees or charges etc, but also have the room to adjust in case of an emergency and have to make lower payments every month instead of a fixed 3 year loan for $1000k a month or something that high.

Wait are you saying that you take home $6k a month, after tax? Where I from that means you make over $100k a year, at which point, why are you not saving and buying outright??

Houses here start at ~$800,000 so I'm saving for a while regardless.

Hate to be that guy but you are going to have a brutal time finding a job as a lawyer in this day and age.

25, I'm a Network Engineer. Just a two year associates degree in Criminal Justice.

Ok so wtf do you do for a living, and how are living in an apartment rent free?

Is that $6000 before or after tax? That will make a huge difference.

Hes in socal. That is not a lot of money here unless you live in Riverside or similar community on the fringes. Even then it still pricey as he stated here. Decent houses on the lower end start around 700k and easily climb up to a few million in orange county. Some houses in my block are worth a bit more than a million while some neighbors homes are only worth 760K.

why have you got to go and ruin my dreams :(
on a serious note, i'm an assistant for a defense attorney in California while going to college, so i feel like that will give me a decent leg up if i continue this throughout education

If be interested to see how anything with a flat plane crank does once the mileage gets high.

base GT could probably be had for 32k all day long.

you're paying ~50% more for a ~10% better car with all the GOTTAHAVEITOPTIONS.

buy a base vette instead.

> 700 a month
my car is like 160 a month and i bet its as fun as a mustang when i hit the touge

and a twin scroll snail on each bank

Ah dude that’s awesome. I wasn’t trying to shit on you :(.

There are definitely jobs out there, you’ve just gotta hustle and grind baby, hustle and grind.

Probably not well. Just a hunch. Boost on an already high compression engine isn't a great idea.

lower it just enough

Oh the fact that it’s socal makes more sense. The pay is so skewed there because housing is so expensive, and if he lives rent free (???) then that’s pure profit.

Yes it is. While not a precise measurement, what I do is subtract around 25%-40% (dependent of what community they live in) of anyone's salary living in California and that is what they truly make living here. Also remember there is down payment, mortgage insurance if you cant afford a decent down payment, and the price/monthly payment to buy said house. Even rent free its still pretty bad.

Forgot to add.....Rent free is still pretty bad when houses cost 700k on average for a decent community.

Yeah, that's generally a piston swap, and out of scope for what most car owners are willing to do(even if it's the right way to do it)

...

Base Corvette with no options at all is $57,000. My 2004 C5 is loaded with every option available except the Z06 package so I feel like the interior would be a downgrade.

My Corvette is fun as hell and I love the car absolutely, but as a daily driver I feel the Mustang would be superior. It's higher, easier to get in and out, has small back seats, and would be almost fully loaded with available options for comfort on long distance drives. The C5 with the "competition package" suspension is really awful on rough roads of any kind and the interior rattles and jiggles always.

I'm also not a fan of the removable Targa top. I expect to move to a wetter climate in a few years and I don't want a removable top.

Yup I'm in Orange County, though I doubt I'd ever buy real estate here. Like I said earlier, the fact that I live rent and mortgage free is allowing me to easily afford these monthly payments. Even if my living conditions were to change, and I had to pay rent, it would be very easy for me to budget $900 a month for rent roughly. This is because a decent rental here runs about $1,800 a month and it would be split with my girlfriend 50/50.

Why would he drop 45k in cash all at once? That is literally a waste of money if you have a low interest rate. Learn to use credit intelligently.

hey don't worry about me user, i'm hard at work on that grind
16 units in college and im able to wiggle in 18 hours a week with the law office, if i keep this up i should be solid

>living in commiefornia
kys.

> paying for 6 years
> dat fucking interest

lmfao

YOUR FUCKING DD IS A CAR A WOULD LOVE TO OWN YOU FUCKING SPOILED, MATERIALIST BITCH.

>frankly I could own one easily, I just love not having a car payment.

Yeah I just moved here six months ago. The state is shit and I had to sell my cars and guns I had in Oregon. Money is pretty good though for my age so I made the sacrifice. Maybe buying a new car exactly how I want it is in some way me reassuring myself that the move to California and selling my soul for money was worth it... I don't know.

My investments in the stock market tend to make more than that annually do the interest doesn't really concern me as much as it probably should.

I love the C5. So much in fact that I have modified the exhaust, intake, cam, ECU flash, and more. I love the car despite its typical used car rattles and oddities, I just want something new and the Mustang looks just absolutely gorgeous to me.

so*

Mustang is a great car. I actually understand what you mean by wanting a newer car as stated here. Just wondering has your targa top started to leak by the middle interior release handle? Mine did it when washing it and when it rained and also by the driver side door a bit.

The driver and passenger side upper door window weatherstripping does let some water in when I clean it, creating drops on the seats and all around the door area. As far as I can tell the targa top doesn't leak at all from cleaning, but being in Southern California I haven't exactly been in a massive rainstorm. I never take the targa top either, which probably contributes to the seals remaining in good condition. This also contributes to me not wanting a vehicle with any kind of removable roof. I just don't see the purpose to it. If I want to feel the environment as I drive I'll ride my motorcycle.

If you have to ask, you probably shouldn't.

Don't buy a new car unless the payment is such a small drop in the bucket for you, you'd hardly notice it.

The car will get old and familiar to you in no time, and you'll have 5 years left on your payment.

Go for it, OP
I would take on a shorter loan so you can get rid of it faster in case things go south or you get tired of the car.

Personally, I would only buy new if it were a legitimate luxury car but you obviously want more out of your car than the average Veeky Forums poster (contrary to popular belief).

>but you obviously want more out of your car than the average Veeky Forums poster
What did he mean by this?

>I'm bad with my money
That explains why you want to take a loan for a car

For 3 of those monthly payments you can buy a shitbox and then you'll never pay for owning the car again

Why would I want a shitbox? I don't. I want something that I genuinely love to be inside as I frequently drive long distances and I want it to be perfect.

Don't. That new front end is disgusting.

I agree. The only s550 looked good from 2015-2017.

buy a much cheaper used older model
do not finance, especially a fun car that you might crash or be crashed into.

this feeling you feel of being able to afford something you really can't, that's a trick, it's how they get you to sign your money away.

>I'm bad with my money
No problem, so am I. Don't spend it on dumb things you will regret. $750 coming out of your wallet every month is a whole lotta regret.

Financing is fine, if you can afford the car comfortably without it.

Dropping $50k at once on a car is retarded with how low interest rates are at the moment. That $50k could be making you even more money while you pay off your car at an interest rate at or below inflation.