buying a new car, need help please?

Question

hello, well let me start off by saying im not a spoiled brat, my dad likes to get me things but i am responsible for paying for them, when he gets me a car he puts down a down payment and im responsible for paying off the car and insurance...i pay all my bills...ok well im 20 and i have a decent 2003 saturn ion, its still in good shape and hasent done me wrong, well i saw the most beautiful red 2006 mustang convertible with red leather interior! it was a site to see, well i told my dad about it not thinking anything and he has been working on a deal to get it for me, it looks like i will be paying 450 a month for car payments and insurance, i pay about 350 a month currently, so my question is should i go for it? is it worth it or just stupied? how good is a mustange? ive had one before but it was older...are they safe? my dad says i might as well since im still young and when i have a family i wont be able to have such a fun car...the money is just a big difference...i can afford it i

i just have to cut some little things out,

i live in southern cali, and i know how a mustange is with gas my first car was a 1996 and i still have a soft spot for mustanges i love them...would a 2006 be better with gas then the 1996??

Answer 1

I like mustangs, they are fast and fun to drive. But dont expect to save on fuel, and they arent that great in the snow if you live in a area that gets lots of snow. I think that at age 20 you should probably take that extra 100 and stuff it into a bank account every month and see if you can get by without spending it. if so, then you truly CAN afford it

Shima

Answer 2

Think about your future. If you decide to have a family in a few years you are screwed because you will be paying forever. Also, if you live where it snows it is very unsafe in the winter because of the rear wheel drive makes it go all over the place. I bought a new car when I was 21 and it was a stupid decision. I could have done so much more with that money and been so much farther ahead. Of course I dont have my daddy to back me up. Dont you ever want to get your own place? Pay off your current car and get your own place. Your Dad is irresponsible for suggesting you get that car and getting it for you. He should be teaching you the value of money instead of how to piss it away. Oh and its not a mustange, its a MUSTANG

Answer 3

Mustangs are great, beautiful and in a class all of their own! Yes they are very nice and I sell them fast! Please use caution. You need to really keep a responsible perspective, and look at your financial situation as it is, as it will be and do not forget to leave a lot of wiggle room. It is nice to have extra money, and if this will make things too tight for you then wait! You can also buy a preowned one and save a lot of money, but still have the enjoyment. If you are Indiana or the surrounding I can help you, ([e-mail]) but otherwise shop the price around and try to keep the payments confortable. Typically, for every $5000 you finance you will be at $100 in payment. You can get a really nice Mustang for $15k! S. Laureys

Answer 4

Car insurance does NOT have to cost a arm and a leg. The reason why people pay more than they should is that they don't take a few minutes and simply ask more than one insurer about their rates. Getting more than one quote WILL save you money.

At the very least, if you get two quotes, you can either compare and take the cheaper one, or tell the other to match or beat it. Think about it. Not getting multiple quotes is just a bad move, and you're telling the insurance agents to rip you off. You compare when you go to the store, why not compare when you're spending hundreds, maybe thousands a year on car insurance?

Another thing: Get ONLINE car insurance quotes. They only take minutes to do, you don't have to talk to anyone online, and you'll get better rates because you're dealing directly with the company, not their insurance agents. You're practically guaranteed to save, because you won't be paying that agent fee.

You'll find more info on car insurance, and some places to get some pretty good online rates here:

http://www.axalda.info/car-insurance.html

Answer 5

Look, I"m a big fan of cars, but I have to be honest. At 20 you should not be paying $450 per month for a car. It's just foolish economically. It's not that you can affrod it now, it's can you afford it in the future. Soon you are going to want to move out or get a nicer place. You will have to sell your car or cut down on other expenses. I don't know how much money you make, but it seems like a bad investment to me.

Answer 6

Not to be rude or anything, but you should learn to spell mustang, since you are so fond of them and all.

Why not SAVE that extra 100 a month, in a savings account I mean, and by the time you do have a family you will have quite a bit of savings for things that really matter.

But if you are absolutly in love with the car, then just do it.

Answer 7

Get somthing safe and fuel efficent. Ford mustangs are not that.
ry a Honda Civic Coupe or a Pontiac G6 convertble.

Answer 8

Fergie has a bunch of money, fond memories of her old Mustang, as has just bought a new one. Beside that, a Mustang on a bad day is better than an ion on a good day. Go for it. (By the way, I'm Fergie's oldest fan).

Answer 9

Well my question is this....
How much down payment?
And how long is the payment?
5 years? 6 years? 4 years?
Since I'm a dealer located in SoCal, I could help you out
a lot better.
So, send me an e-mail as soon as possible so i can help you
out. I can tell you straight out if it's a good deal or not.
My e-mail address is [e-mail]
Do it quick because i'll be out of country this sunday.

Used Car Sales / New Car Broker / Wholesaler

Answer 10

I guess it's up to you. I wouldn't do it. Fords don't keep their value worth crap so you're probably not going to be able to trade it in for years.