Extra College Money-New Stang? - Ford Mustang Forum
 
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post #1 of 15 (permalink) Old 09-24-2011 Thread Starter
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Extra College Money-New Stang?

Heya everyone!

I know this is a ways off, but I will be going into college this next year and I found out that the college I plan on going to is much cheaper than me and my parents originally thought. If I can get enough scholarships to cover most, if not all of the tuition, then I will anywhere from 6-10k left over from the money my parents put away, and they said if I don't use it for college, it is mine.

I also have a good amount I got from my gramma when she passed away, and that is being saved for a down payment on a house, or something really important.

So here is my question:
If I do in fact have like 5-10k left over, do you think I should sell my current stang, and take the money from the sale+some of the left over money and buy like a 07-09 GT, and get like a CAI+Tuner right off the bat, and then put all the left over from that into savings?
OR, should I just buy a supercharger for my current v6, and put all the left overs from that into savings? Or... Just not spend any of it, and put all into savings..? o.0

Here is kind of the pros, and cons of both of both that I can see:
Getting a GT:
Pros:
-More power, much higher top potential horsepower cap.
-Sound of the engine and exhaust just better in general
-Just more fun!
Cons:
-Higher insurance
-Worse gas mileage
-Have put about $1000 worth of upgrades into my v6 already.

Keeping v6, and getting supercharger:
Pros:
-No insurance increase
-Not throwing away the $1000 worth of upgrades I have done
-More fun than I am having now
Cons:
-That will be about as much horsepower as I can get out of it, so no where near as much potential HP as a GT
-Don't particularly like the sound of a Supercharger

Not buying anything, and saving all the money:
Pros:
-Probably the smartest option.. :P
-If I get in a pinch, I have money to fall back on
Cons:
-No fun at all..
-No upgrades for my car.

Sorry for the super long post guys, but I wanted to give as much details as possible, and I don't want to make a big mistake on this. :P
Thanks for your time, and advise!

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post #2 of 15 (permalink) Old 09-24-2011
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Hmm... Since the economy and job market four years from now is far from certain, I'd invest the cash and wait to buy yourself an "I graduated and got a job!" car when that happens... Additionally, the technology advances in the next four years are likely to be stunning.

Your current 'stang is probably in great shape, and will be only 10 years old on graduation. The money you save on insurance and gas can be used to either party hearty or get more bling for your graduation car..


Jim

Murphy was an optimist.

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post #3 of 15 (permalink) Old 09-24-2011
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personally if i had that money i would go for the X-charger extreme which is about 6k which is a lot but that gives u a lot of HP
but at the same time i love the GT cause it has a V8
so i would say go with the v6 ideas

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post #4 of 15 (permalink) Old 09-24-2011
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save the money and invest it...best feeling in the world is a positive net worth, not a depreciating money sucking car...something you never learn in college, only the "school of hard knocks"
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post #5 of 15 (permalink) Old 09-24-2011 Thread Starter
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When I really think about it, I think your right, it is probably the best idea to just put that money away for safe keeping.
But I mean in a year, who knows what the economy will be like, or where I will be in my life. So for now I will just plan on saving it, but many things might change. :P

Thanks for your advise guys!
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post #6 of 15 (permalink) Old 09-25-2011
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Cars come and go. You have made a good decision and I wish you the best of luck for the future. The lack of education is the root of all evil not money so you should hang on to it.
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post #7 of 15 (permalink) Old 09-25-2011
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although saving some money ISSS the wise option, who wants to do that lol

I would say keep the V6, i know i would put that money toward the xcharger or a procharger. I would pass up on a GT and spend the money on the SC just so that i can see the dumb look on a person driving a GT when you keep up haha. The potential of a GT may be more, but at same time like you noted, it will not only cost more to maintain the car, but i have found that parts tend to be more as well...

from a practical standpoint...save the money aside and wait until the next gen 2014 1/2 mustang drops...you never know what that may be like O.o and of course you would still have the money until then if you so needed

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post #8 of 15 (permalink) Old 09-25-2011
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you could always do a motor swap

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post #9 of 15 (permalink) Old 09-25-2011
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Quote:
Originally Posted by jdmeater View Post
you could always do a motor swap
goodbye savings

there are a lot of threads on engine swaps and almost all of them will say that it is not worth the extra cost...a motor turns into computer system right away. Then you need new suspension. The rear end may need adjusting...and the installation alone is an arm and a leg.

2007 V6 TORCH RED (will be missed)
2001 Bullitt - #1001 (Good riddance)
2004 Mach 1
--Magnaflow Exhaust, MGW shifter..For now
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+1 on investing the money. Stocks are cheap right now!

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If i were you i would hold off till you see how things go once you are in college. Im in my 2nd year of college now and i can say that scholarships are very hard to find right now. The government is broke so don't expect any from them, the academic scholarships are getting fewer and getting much harder to obtain. Also, you could use the money to live off of day to day if you have any left over, i can personally say that working 20+ hours and taking 5 classes plus your labs is no fun at all...

2008 Mustang V6-Torch Red-Auto-93 BAMA Race Tune-Eibach Front & Rear Sway Bar-GT Front and Rear Bumper-Hood Scoop-Roush Rear Window Louvers-BBK CAI-Duel H-Pipe exhaust with GT500 Mufflers-Boston Acoustic Speaker Upgrade

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Save it. I'm not putting down Mustangs, but things go wrong. What happens if you upgrade your car and something breaks? Then you've got to foot that mechanic bill as well as putting parts on. I say save it. and when you think the time is right and everything is definately stable, go have some fun!

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I can't tell you how much I wish I would've saved more... it's my third year of college and I'm broke!

2006 Mustang V6 Pony Package Vista Blue with a 5-speed (Michele)
Go: BBK 70mm throttle body, BBK CAI, single custom exhaust (maxflow muffler) with polished 4" tip, SCT Tuner w/ 91 RT, SR TB Spacer, Custom made cold air bucket, Spec Stage II Clutch and SF66A Flywheel
Show: White rocker stripes, Kaenen Mach 1 Style hood, painted underhood parts/covers, Muffler tip, white stripes after heat reduction ports.
Own but not insalled- Polished Shorty Headers
Future-looking for 2007-08 F150
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Quote:
Originally Posted by Xterminator View Post
Heya everyone!

I know this is a ways off, but I will be going into college this next year and I found out that the college I plan on going to is much cheaper than me and my parents originally thought. If I can get enough scholarships to cover most, if not all of the tuition, then I will anywhere from 6-10k left over from the money my parents put away, and they said if I don't use it for college, it is mine.

I also have a good amount I got from my gramma when she passed away, and that is being saved for a down payment on a house, or something really important.

So here is my question:
If I do in fact have like 5-10k left over, do you think I should sell my current stang, and take the money from the sale+some of the left over money and buy like a 07-09 GT, and get like a CAI+Tuner right off the bat, and then put all the left over from that into savings?
OR, should I just buy a supercharger for my current v6, and put all the left overs from that into savings? Or... Just not spend any of it, and put all into savings..? o.0

Here is kind of the pros, and cons of both of both that I can see:
Getting a GT:
Pros:
-More power, much higher top potential horsepower cap.
-Sound of the engine and exhaust just better in general
-Just more fun!
Cons:
-Higher insurance
-Worse gas mileage
-Have put about $1000 worth of upgrades into my v6 already.

Keeping v6, and getting supercharger:
Pros:
-No insurance increase
-Not throwing away the $1000 worth of upgrades I have done
-More fun than I am having now
Cons:
-That will be about as much horsepower as I can get out of it, so no where near as much potential HP as a GT
-Don't particularly like the sound of a Supercharger

Not buying anything, and saving all the money:
Pros:
-Probably the smartest option.. :P
-If I get in a pinch, I have money to fall back on
Cons:
-No fun at all..
-No upgrades for my car.

Sorry for the super long post guys, but I wanted to give as much details as possible, and I don't want to make a big mistake on this. :P
Thanks for your time, and advise!
Do not do that with school loan money.
ALot of people do and wind up in so much debt with loans the end up not being able to get a house because the income to debt ratio is too high. Give the extra money back and wait till you get your new first job and buy a car that way. DONT DO IT.

I did that 20 years ago myself and Im still paying on that school loan for making those type of mistakes!!!!!!!!!!!!!
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Save that money for two things that are going to be waiting for you when you get to college.

1. Girls - College girls are a breed apart from high school girls.

2. Overseas study - Your $6,000 is better spent on a semester in Europe. It was the best $6k I ever spent.

Final thought - A college degree equals a lifetime of future superchargers. Don't sweat it, now.


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