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Old 12-21-2015, 05:09 PM   #1
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Buying a 2016 gt cali special

Help! need advice on this big purchase?
So I am looking into buying a 2016 Ford mustang GT. Currently have a 2013 mustang. The one i want is priced at 36,700 from 37,800 last week. Its a killer deal compared to other dealers. Im hoping to get the price around 33k. My problem is I plan on saving 10k and selling my car for 15 and putting 25k down and only owe 8k. I figured by may i would 10k. I currently have about 4500 saved. So if I could sell my car for 15k now and buy the new mustang (making it about 20k down,) would that be different than waiting until I got 25k down? im thinking about getting it now since its a.good deal. With the new mustang I would have about 450 left over each month after all my bills
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Old 12-21-2015, 05:20 PM   #2
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Buying a 2016 gt cali special

Not sure what your asking. First off dealerships prefer you finance. They get kickbacks from the finance companies as additionally income (this is why it's not uncommon in order to get rebates you must finance). If your asking if you can afford it without knowing your financial position nobody can answer that except for you. And the difference between 20k and 25k down is obviously a higher payment


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Old 12-21-2015, 05:34 PM   #3
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Quote:
Originally Posted by racemamxx View Post
Help! need advice on this big purchase?

So I am looking into buying a 2016 Ford mustang GT. Currently have a 2013 mustang. The one i want is priced at 36,700 from 37,800 last week. Its a killer deal compared to other dealers. Im hoping to get the price around 33k. My problem is I plan on saving 10k and selling my car for 15 and putting 25k down and only owe 8k. I figured by may i would 10k. I currently have about 4500 saved. So if I could sell my car for 15k now and buy the new mustang (making it about 20k down,) would that be different than waiting until I got 25k down? im thinking about getting it now since its a.good deal. With the new mustang I would have about 450 left over each month after all my bills

That car will be sold by the time u have saved 10k in May


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Old 12-21-2015, 05:37 PM   #4
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Buying a 2016 gt cali special

Just a thought. Did you ask about trading your car in on that one? I doubt it would be a good deal; but then again it never hurts to ask. Maybe that dealership is half way decent.


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Old 12-21-2015, 05:46 PM   #5
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Doesn't make sense to me. Ur calculating all this with the hopes of the car selling for $33k?!! Why don't u c how much you can really get it for and then play with the numbers. Chances are ur not getting it for that amount. And having $400 left per month after bills is not a lot. U need more than that for emergencies and just in case. From the situation u just presented i would say don't do it. Especially if your 13 is paid off.


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Old 12-22-2015, 03:26 PM   #6
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What did you pay for the 2013? 15 k sounds rather cheap. How many miles are on it? And do you owe any money on Lt? Red horse
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Old 12-22-2015, 07:23 PM   #7
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Quote:
Originally Posted by racemamxx View Post
Help! need advice on this big purchase?
So I am looking into buying a 2016 Ford mustang GT. Currently have a 2013 mustang. The one i want is priced at 36,700 from 37,800 last week. Its a killer deal compared to other dealers. Im hoping to get the price around 33k. My problem is I plan on saving 10k and selling my car for 15 and putting 25k down and only owe 8k. I figured by may i would 10k. I currently have about 4500 saved. So if I could sell my car for 15k now and buy the new mustang (making it about 20k down,) would that be different than waiting until I got 25k down? im thinking about getting it now since its a.good deal. With the new mustang I would have about 450 left over each month after all my bills
I doubt very much that you will be able to get the price down to 33K.
Just looking it up on Truecar.com for average low price, etc, I come up with $36,574. That's with the C/S package and 3.55 gears for options. No more. And that includes a $500 incentive. There are other incentives but I'm assuming at least the $500. Don't know what more, if anything, the car you're looking at has.
Unless you're getting a lot more in the way of options than the base C/S, I'd say the $36,700 price you have so far can be repeated any time, even if you wanted to order exactly what you want. Of course chances are you would be tempted to get some options you otherwise wouldn't have and it would end up costing you a bit more. But you'd be getting exactly what you want. So unless you can get it down to a real good price, like 33K, I'd recommend you not rush into it because you'll be able to find or order what you want at no more then that car is costing.
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Old 12-22-2015, 07:42 PM   #8
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Also keep in mind that most states, and I assume Georgia is included, reduce the sales tax on the new car purchase by the value of a trade. So for example, if dealer allowed you 14K for your trade and new car was 36K, tax would be assessed on 22K. If tax was say 7% that would amount to a $980 savings in sales tax. This means that if you the dealer offered you 14K or more it would be worthwhile to trade it in, if all you could sell it for was say 15K.
I assume you are aware or the sales tax that will be added to the new car purchase. I believe Georgia has recently changed it and call it something else but you still have to pay it no matter what they call it.
Take your time, don't rush into it. You're not missing out on any super deals that can't be repeated further down the road.
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