Should I trade my 07 GT for a 2011 Shelby?

2434 Views 30 Replies 21 Participants Last post by hubkap, Jul 19, 2010

Warlock

Discussion Starter · Jul 17, 2010

Hey everybody I have not been here in a long time, I apoligize in advance if this is a worn out question.

I have a beautiful black with white stripes 07 GT Premium with 53.000 trouble free but for a new battery and tires, miles on it. It has 5 speed manual and 4:10's with a Brenspeed 93 octane tune and C&L CAI with Flowmaster Classic's out back. It has every option but heated seats which in South Texas would be the one I did not need.

Now my big question is, do you think that the 2011 Shelby is really truly worth the huge price difference? I drive my car every day to work, and it gets around 22 mpg if I run the speed limit in the city.

The 93 octane tune bumped up my gas mileage and performance, as I get 25 or better on the high way @ the normal 80 mph cruising speed most do on the interstate. I am not a wealthy guy and still owe around $12.000 on my GT.

It would not even be a question as to which car to have if I had the means to just pay cash for the Shelby. My local dealer has a sweet black new Shelby with the SVT Performance Package and it lists for $55.000.

They will give me at least $15.000 on my car but I have not worked on them yet as to the final price of the Shelby as far was what kind of price break they will give me if any. Salesmen BS is worthless.

Sorry, I can never just ask as simple question, I alway's am long winded as hell.

As my only car, is the Shelby that much better than my GT? Can I not spend say $10.000 on my GT and put it in the performance range of the new Shelby? Im not going to race it on the track, I just want to show off and have fun! :laughlitt

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MustangChris810

· #2 · Jul 17, 2010

You only live once, if you can afford it... I say do it!!!

livin

· #3 · Jul 17, 2010

Hmmm...I'd say your looking at assuming a loan of at least $50,000 ($55k car, $15k trade, payoff of your $12k loan)....which over a 5 year loan and depending on your interest rate....your looking at a payment of $850 - $900 a month.

Thats a lot of money each month for a car - you say yourself your not a wealthy guy.

Since your asking - I'd say just enjoy your 2007 GT. As money allows continue to do mods that will keep you happy with your GT.

Yes, for $10-15k you could raise your 2007 performance close to the Shelby - but work on paying off your $12k loan first before putting that kind of money into your car.

Good luck with your decision.

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Executioner

· #4 · Jul 17, 2010

Dont forget to factor in your insurance. Call your insurance company and check the rates. The Shelby is liable to be 4 or 5 times what you are paying for the gt.

blue72mustang

· #5 · Jul 17, 2010

I agree that the Shelby is a lot of money and Yes, you can make your performance more like the Shelby, but when you are all done spending the money, your car will never be a :worshipSHELBY.:worship

04KenneBellGT

· #6 · Jul 17, 2010

I say mod your GT, if you put 15k into your GT as it is now you would probably blow by a shelby. Sure it wont be a shelby, but you also saved a ton of money for not paying for the shelby name, but still have a fast mustang.

Warlock

Discussion Starter · #7 · Jul 17, 2010

Thank you

livin said:
Hmmm...I'd say your looking at assuming a loan of at least $50,000 ($55k car, $15k trade, payoff of your $12k loan)....which over a 5 year loan and depending on your interest rate....your looking at a payment of $850 - $900 a month.

Thats a lot of money each month for a car - you say yourself your not a wealthy guy.

Since your asking - I'd say just enjoy your 2007 GT. As money allows continue to do mods that will keep you happy with your GT.

Yes, for $10-15k you could raise your 2007 performance close to the Shelby - but work on paying off your $12k loan first before putting that kind of money into your car.

Good luck with your decision.

You know deep down I felt the same way about just keeping my trusty 07 GT. But as you might expect sitting in the new Shelby and seeing under the hood it was hard to not drool! $800.00 or higher payments are not in my world at all. Im making payments half that now.

I really thank everyone who responded to my question, I needed the help. Your advise is just too strong to argue with. If I had even begun to have thought the payments would be that steep, I would have dismissed it. But of course, were money not an issue it would be Shelby all the way.

And as mentioned, insurance is another thing. I have USAA insurance and a perfect long time record with them, but have no idea what the extra cost would be. Im 56 years old, so that helps me a little but who knows?

And in any case, I just dont like the tail lights or any part of the rear of any of the new Mustangs, and feel my 07 looks much better and more like a Mustang should be. And I feel better now about the guilt I had in even thinking about trading "Judy" my "Stangs name", in for anything else.

Thanks to all.

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RetroGT2006

· #8 · Jul 17, 2010

I'd say stick with the 07 man. Sure i would love to sell mine for a 11 gt500 or something exquisite like that but like livin said, if your not a wealthy man - that price a month is killer.. I would pass on it asap. Hell i looked at trading for a 11 5.0 and saw payments that would be like 300+ a month and said NOPE! My car is paid off in 2,000 dollars so why get myself in debt again? for $10k in mods you can **** on the shelby.. If you buy internals, have them installed and get boosted n install it yourself you can do it for about 10k.

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MustangChris810

· #9 · Jul 17, 2010

Insurance for myself being 27 years old is something like another 20 dollars a month for a 2010 Shelby Vs. my 2010 GT.

But yeah, without you dropping 15-20K down thats a lot of interest paid out and a steep payment.....

If you are GT500 crazy, why not check out a used one...07-09 will run you under 40K with less than 10K miles.

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stlwagon

· #10 · Jul 17, 2010

You might be excited about the possibility but I think after the novelty wears off you're going to be hating that massive car pmt.

Porky Pig

· #11 · Jul 17, 2010

stlwagon said:
You might be excited about the possibility but I think after the novelty wears off you're going to be hating that massive car pmt.

Exactly, with that big of a payment the novelty will wear off pretty quickly too.....Stick with what you've got.

jason6

· #12 · Jul 18, 2010

you guys already know what i'm going to say, so i won't even answer this question.

SJPONY

· #13 · Jul 18, 2010

I'll probably get roasted by the GT 500 owners like I did on "their" forum. The GT 500 is an awesome vehicle. However, I drove several before I bought my 2011 5.0 GT. I could find no logical reason to spend an extra $10-15K on the shelby. Mine is very close in 0-60 times and has everything I want and that the Shelby had, except 550 hp. I only need 550 hp for drag races, which I don't do. If I did, I'd buy a GT such as yours and spend the money on mods to drag it. I can't see doing that to a $55K car. Plus, they aren't without their issues.

Finally, if you have to finance most of it, DON'T! Contray to popular belief, they depreciate at about the same rate, or even faster, than a regular GT. Just look at the used ones out there with very low miles selling for $15-25K less than the original owner paid. I would never want a $850/mo. car payment!

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G

· #14 · Jul 18, 2010

I think its already been said. I wouldn't do it. For the most part the excitement of chasing a dream or getting caught up in the new car hype exceeds what you end up with. Sure we all love these cars but in the end of the day, there is another car out there that is cooler, faster, more unique then your own and it will always be that way. Enjoy what you have and avoid the huge car payments if you really can't afford it. My payments were over $850.00 and but paid it off in 19 months thanks to alot of overtime. I would hate to have that payment for 5 years and if you don't put down a huge down payment you would get upside down real quick which may put you in a bind. You never know what the future will hold.
Keep what you have and enjoy it. It sounds like a great car!!!!:wavey

FYI: Last time I drove buy our local Ford dealer they had a 2007 Black Convert GT500 with 3100 miles on it for $39,000. The guy probably paid $65+ when all the mark up hype was going on in 2007.

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FYouGitive

· #15 · Jul 18, 2010

I always recommend putting away the amount of the car payment for six months; that is, take the difference between your current payment and the new-car payment and put it in savings. Add the insurance bump if it is significant. If, after six months, you feel comfortable with your circumstances, then start to shop for a car you like.

As far as the GT500 is concerned, I think they are magnificent beasts, and I drove a couple for quite a way when looking for my next Mustang, which turned out to be the white coupe. I'd have to have a daily driver, in addition to the GT500: they just seem ponderous to me. That may have changed since 2008, but I'd be surprised if it has.

Any road, when we win a lottery, a GT500 might be on the short list. Not right away, otherwise.

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Michael F

· #16 · Jul 18, 2010

"And in any case, I just dont like the tail lights or any part of the rear of any of the new Mustangs, and feel my 07 looks much better and more like a Mustang should be. "

`Nuff said.

#1fordlover

· #17 · Jul 18, 2010

Keep your 07 GT, we all want a Shelby, but the payments and depreciation is'nt worth it unless you can pay cash or are loaded and money is'nt a option. I'd be happy with a 2011 with the 5.0 and almost came home with one a couple of weeks ago, but after My Wife woke me up and brought me back to reality we decided to wait untill 2014 for the 50th Anniversay Model.
BUT...........you (we) only live once and if it is a Dream of yours and you can afford the payments then Go For It:bigthumbsup

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stlwagon

· #18 · Jul 18, 2010

FYouGitive said:
I always recommend putting away the amount of the car payment for six months; that is, take the difference between your current payment and the new-car payment and put it in savings. Add the insurance bump if it is significant. If, after six months, you feel comfortable with your circumstances, then start to shop for a car you like.

As far as the GT500 is concerned, I think they are magnificent beasts, and I drove a couple for quite a way when looking for my next Mustang, which turned out to be the white coupe. I'd have to have a daily driver, in addition to the GT500: they just seem ponderous to me. That may have changed since 2008, but I'd be surprised if it has.

Any road, when we win a lottery, a GT500 might be on the short list. Not right away, otherwise.

Sage advice as always Frank!

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nsspartan77

· #19 · Jul 18, 2010

Michael F said:
"And in any case, I just dont like the tail lights or any part of the rear of any of the new Mustangs, and feel my 07 looks much better and more like a Mustang should be. "

`Nuff said.

right on the money!

GTstang08

· #20 · Jul 18, 2010

I say trade it for a low mileage 07-09. Theyre in the 30s. That sounds entirely better than the 50k range :bigthumbsup

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