Friday, October 30, 2015

Opinions Please!!

I am quite literally in the cusp of buying a 2014 Mustang GT500.  I have had several loan approvals for the $65,000 price tag being asked by this private seller.  Yesterday I went and test drove it.  The car was amazing and with only 6500 km (about 4000 miles) it is basically a new car.

So what's stopping me?  Well there are several things.  One is of course the fact that's it's a lot of money for a 2014 vehicle, even one with 662 horsepower.  I can make the payments well enough but right now I have no car payments and really like that.  Plus the loan officers look at me like I'm crazy.

The big question in my head is whether this Shelby will follow the trend of other Shelbys and
appreciate in value or am I buying a $65,000 car that will be $30,000 in a few years.  This model is the end of an era in the Mustang styling and the most powerful Mustang to be produced.  It's a factory car that can do 200 mph.  Certainly that is something that will hold value in years to come but if the 2017 GT500 has 700+hp will it cause my car's value to plummet?

Another thing is my 2007 Mustang GT sitting in the garage.  We don't have lots of space and you aren't allowed to park anything on the street longer than 3 hours even in front of your own house.  So what the hell am I going to do with two Mustangs?  Of course I need to sell the 07 but how long will that take?  Especially going into the winter months.

So what should I do?  Should I drop the hammer and purchase it or hold on?  The car is stunning in person and sounds amazing with the Borla exhaust added by the seller.  The interior is crap but that's not why you buy this car.  If you had $65,000 approved loan would you do it or go for something else?  Or do nothing at all?  The pictures here are of the car I intend to buy.

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