Cost/Benefit analysis: Keep the '11 GT or trade it for 2015 in while possible?
I posted this over on the TMS forums this morning too...I don't mean to double up but it might be a worthwhile discussion here too!! Any thoughts are welcome:
How have you guys considered this quandry? How did you make your decision?
I'm astonishingly stuck straight in the middle on this one:
Keep my 2011 GT BBP with 22,000 miles or trade it while the trading is good?
I had a test drive of a '15 GT PP/6spd car back in the fall [/url](detailed in a thread in the 2015 forum) and I liked it...better in many objective ways than my 2011 GT but not as much fun in other subjective measures. Regardless of how close these cars are on paper, the 2015 certainly didn't feel as quick as my S197.
I wasn't blown away.
Pros of keeping the '11:
No more car payments
I really like the bodystyle and the way the car looks, drives, sounds
I'll have a budget to start modding
Cons of keeping the '11:
22,000 miles means I'm getting near some major expenses
Will need $1200 of tires in the spring
Early build 2011 could mean that I'm on borrowed time with failures
Suspension mods I want will be like a $20 shine on a $3 pair of boots
Pros of trading in for a 2015:
Low mileage/condition of my '11 resulted in a good trade offer (for now)
Starting over with a fresh warranty
Car will handle better in stock form than '11 will with mods
Much cheaper to opt for Recaro seats in a '15 than to add them to '11
Vastly improved Coyote engine with greater potential for mods
Performance Pack equipment is very desirable
Track apps and access all that lovely data would be fun- costly to add to '11
Cons of trading in for a 2015
I'll have to finance a portion of the purchase price (~35% or so)
I'll have to say goodbye to a car I really like
Very likely to be significant upgrades for '16/'17 (as has been the pattern)
I dislike the idea of a slower accelerating, heavier car
Just can't get my head around the looks...
Honestly, this is a great problem to have. I love my S197...I'd love the '15 too.
What are your thoughts? Why did you decide to keep your S197?
The first thing you stated would be the factor for me.
No more car payments.wiggle.gif
You have to look at total cost of ownership if you really want to compare-insurance, maintainance etc then divide by amount of time you had the car.
I.e. car cost me $20k after trade-in, had it 48 months, so it cost me $416 a month of ownership, compare to what the new one will cost, how long will you keep it.
The shorter you keep a new car usually costs more since you have a lot of depreciation first 3-5 years, tapers off after that.
Keep the '11. It's better looking!
For me the number one thing is which car looks be to you. Own the one you think looks best. You will always have to buy tires around every 50,000 miles. If you really like the current car, diving into payments agains will be awful disappointing just to reset the odometer. I doubt you'll have big upcoming expenses on the current car. I've owned a 2007, 2008, 2012 and now have a 2011. The 2008 was a GT/CS and I put 125,000 miles on it. The only thing other than putting tires on it, oil/filter changes was around 100,000 miles I had a knocking in the front end that was sway bar links. That's the only other maintenance I had to do to the car. When I traded it in, the brake pads still looked brand new!
Keep in mind that the 2015 will have the same "first year model" problems as your 2011. If your 2011 is fine then you most likely avoided those problems and by buying another first year model you will be rolling the dice once again.
Figures don't lie, but liars can figure . . . .
Buying a new car is pretty much never better on a real objective cost basis. The new car is always going to cost more. (unless you are trading in a used Ferrari for a new Toyota or something like that)
On the benefit side, it is subjective, here's where the figuring comes in . . . I can "cost/benefit" justify just about anything, all I have to do is increase the benefit score to justify what I want.
So it really comes down to what you want, and if you can fork over the cash to get it.
I would personally wait on getting the Mustang as many have mentioned in here...let the bugs get worked out. I didn't like the new body style 10-14 Mustangs came out, took a few years for me to warm up to them. That could be that same case with the 15.
Buying a car is emotional and if you are not dead in love with it when you see it and then even more so not impressed when you drive it....then why buy it?
I would keep your 11 and put some cash away and when they start adding some new features and improvements in the next few years, you might be able to walk in with cash and just buy it outright.
My 2 cents.
Keeping my '11; less than 10,000 miles and still looks/smells NEW!
I would wait until at least next year and keep what you have for now. The 2016 is going to have a year to work out the kinks with the new style. Not to mention, Microsoft Sync will be gone to a new system soon.
Plus, you have no car payments!!!!! That's awesome! You don't have to have the latest and greatest to keep up with the Jones when you have a fully capable car right now that's paid off that hangs with the new model. (Sorry, but I feel bad for those guys with the pre-2011 models..)
The smart money says keep the current car until you can pay cash for a new one. However, smart money is not always fun money. Do what you think suits you best. I will tell you, I wish I would have kept my 2011 GT. It was a good car despite its few flaws.
You guys are awesome...I can't thank you enough for sharing your advice and wisdom.
After reading this thread, I'm honestly tipping back to keeping the S197...biting the bullet and ordering up my Michellin Pilot Supersports and that Bilstein kit from Vorshlag and focusing on the car that made me so happy for the past four summers.
If nothing else, the "wait and see what happens in '16" advice may be the tipping point.
Thank you all.
Any additional thoughts on the topic are welcome...
Yeah lol I only give you that advice because I'm in the same situation now as you....I kinda wanna get the 15 but I'm thinking to myself. "Wait...wait wait..wait"
The ford i got mine at just emailed me about Mustang owners can get employee pricing right now. If you trade or sell it and put it all as a downpayment, you would be looking at next to nothing a month for the new one.
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