If memory serves, you're single and you're a manager at a Hy-Vee (with recurrent health problems). Unless circumstances have changed from that, there is no reason to own two vehicles.
Buying vs. Leasing
- Thread starter Trekker4747
- Start date
If memory serves, you're single and you're a manager at a Hy-Vee (with recurrent health problems). Unless circumstances have changed from that, there is no reason to own two vehicles.
True, I've no need for two vehicles but the trade on the Focus isn't going to be anything noteworthy and it may still come in handy in times when the Mustang wouldn't be practical to drive (like in poor street conditions.)
Maybe this is a crazy idea but why not buy a more practical car in the first place?
Because it's not what I want.
Hmmm....
Just now checking on-line calculators for trade-in values for my car, being more discriminating on vehicle conditions, the value for it really isn't as bad as I would have thought.
I have a Mustang, insurance is pretty reasonable (at least for a v6). It was actually less than I was paying for my old Neon. They hold their value pretty good, too.
You probably already know, but the 2014 and 2015 Mustangs are completely different, so you should probably factor that in to your buying plans.
You probably already know, but the 2014 and 2015 Mustangs are completely different, so you should probably factor that in to your buying plans.
Yeah, I have a clean driving record and I don't expect the insurance to be too bad on the V6. I'm sort of balancing between the '14 and the '15.
The '15 is going to have an Ecoboost 2.3L 4cyl engine that supposedly have specs that meet or beet the V6. But, at the same time, a 4-cylinder Mustang just feels... "wrong." I also wonder if it'll have that great "growl" Mustang engines have.
I'm also not 100% sold on the '15 styling but it is going to have a nicer range of colors available.
The '15 is going to have an Ecoboost 2.3L 4cyl engine that supposedly have specs that meet or beet the V6. But, at the same time, a 4-cylinder Mustang just feels... "wrong." I also wonder if it'll have that great "growl" Mustang engines have.
I'm also not 100% sold on the '15 styling but it is going to have a nicer range of colors available.
First, I completely encourage and support Trekker4747 in his decision to buy the Mustang.
Second...the folks who say that buying is better probably know what they're talking about. Leasing worked out well for me in 2000 when I purchased an inexpensive new car (Toyota Echo) but it wasn't necessarily the financially better thing for me to do. I just did not want to deal with the uncertainties of another used car at that time, found a new car that I could lease at a monthly rate so low as to be negligable, and had good reason to believe that by the time the lease was up (five years) my financial situation would have improved to the point that the balloon payment would not be a problem. That all turned out to be true.
But I was probably like the only guy in the Western world leasing a $12,000 car at the time.
BTW, the pricing on the '15s should be known about May 20th. They'll be up some across the board, for sure.
Second...the folks who say that buying is better probably know what they're talking about. Leasing worked out well for me in 2000 when I purchased an inexpensive new car (Toyota Echo) but it wasn't necessarily the financially better thing for me to do. I just did not want to deal with the uncertainties of another used car at that time, found a new car that I could lease at a monthly rate so low as to be negligable, and had good reason to believe that by the time the lease was up (five years) my financial situation would have improved to the point that the balloon payment would not be a problem. That all turned out to be true.
But I was probably like the only guy in the Western world leasing a $12,000 car at the time.
BTW, the pricing on the '15s should be known about May 20th. They'll be up some across the board, for sure.
How bad are winters in KC? You might want to keep the Focus. A Mustang was not practical year round here in Minnesota. Too many days in the winter when the car is trying to spin off the road because of rear-wheel drive. But the newer models have traction control and I don't know if that would tame them enough for winter.
But yeah, get your dream car. Mine was an '84 Dodge Charger and I loved that car. Kept it until '95.
But yeah, get your dream car. Mine was an '84 Dodge Charger and I loved that car. Kept it until '95.
The winters here can be one extreme or another. I don't have too much problems driving in the snow (but, front-wheel drive) but the streets can be pretty bad before they're plowed which takes some time. I've no idea how well traction-control works and if it makes a car more drivable in the snow or as drivable as a car with FWD.
Last fall a young woman was going down the merge ramp to I-494 in her new Mustang. She hit the gas and then hit an icy patch on the ramp. She spun down the ramp backwards and across 3 lanes of traffic. Ended up tangled in the cable restraint system placed in the median.
Secret to rear-wheel drive in winter is to add a little weight (sand) to your trunk and accelerate gingerly. If the rear-end starts to break free just take your foot off the gas. In extreme cases you might have to shift into neutral.
Secret to rear-wheel drive in winter is to add a little weight (sand) to your trunk and accelerate gingerly. If the rear-end starts to break free just take your foot off the gas. In extreme cases you might have to shift into neutral.
I bought my first new car ever in 1999. Only reason I did was because stick shift was not available on the previous 2 years model (it was introduced in 1997)
That being said, ya it's neat to have the "new car smell, these are MY miles etc.."
but I don't believe I'll ever buy new again unless I get a huge raise.
The second you drive it off the lot, it's a loss.
That being said, ya it's neat to have the "new car smell, these are MY miles etc.."
but I don't believe I'll ever buy new again unless I get a huge raise.
The second you drive it off the lot, it's a loss.
True, but you could probably argue a Mustang, for example, will hold its value better. And, really, anything you buy is a loss the second you take it from the store/place of purchase. Short of real-estate everything bought is a loss.
No, don't fool yourself. Once you drive off the lot the value drops a lot for a Mustang. And, it does drop a lot.
I'm not saying you shouldn't buy a new car, but don't fool yourself about that aspect. Mustangs are not the special exception to the rule!
Mr Awe
Nothing says "midlife crisis" like a Mustang. 
The only Mustangs that hold/regain value are the ones made decades ago. I have serious doubts that late-model Mustangs will behave similarly in 20-30 years.
But why? In 20-30 years they will be considered old timers/vintage cars as well.
I wish I could say yeah, but...no. Cars depreciate quickly, and there's certainly no reason to pretend that one is an investment. There's certainly a strong demand for used Mustangs of almost any vintage and you wouldn't have trouble finding someone to take it off your hands if you wanted to sell, but you're going to take a loss. If you buy a fun car, you're buying it because it's a fun car. Someone close to me owns a Prius. It's a really great car, it's a little bit cool in its way - or used to be, before one herd came to cover three states - it's probably responsible and she loves it. You couldn't pay me to drive a Prius.
Get it signed by William Shatner, THEN it'll hold its value.
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