Ford Mustang Forum - View Single Post - thinking of switching to 5.0.
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post #34 of (permalink) Old 06-30-2014 Thread Starter
akeemjvasser
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Joined: Feb 2014
Location: Grand Rapids
Posts: 54
 
Quote:
Originally Posted by Fatopotomus View Post
OP,

Im going to give you some advice learned from being nearly a decade older than you. You can choose to ignore it, take insult from it, or whatever, but I promise you its well meaning input that I would tell me own son if he presented to me the facts you laid out above.

If you're obligated for $26K on a 2 year old V6 mustang and considering trading it in, you are so underwater the edealer is going to slide it in so deep and rough that you wont walk right for a week after. You are going to have $10K in negative equity before you even start talking about the new car. You do this switch and you're easily going to be $45k in debt when you roll out of the showroom. Now I dont know what you do for a living or who you are but I do know the average 24 year old in Michigan makes thless than that as a annual median income.

Also what is the length of your current loan that you are only paying $350 a month? Did you get a 72 or 84 month loan?

My honest take is that you are making financially irresponsible decisions.
This loan im in now is a 60 month loan. 6% interest rate. I see a 19000 fully loaded gt 2012 a city away. Oh by the way thanks for the advice. Im old enough and mature enough to understand the help in your statement lol.

Steeda tune, Steeda ultimate induction cold air intake, BBK tuned length shorty headers, Idatalink maestro.
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