I need some of your opinions. Maybe this is a test to see if i'm really crazy and/or insane with a little bit of a rant thrown in. Bought my truck a few monhts ago, spent $10,000 for it, probably worth $11-$11,500 now. I am 18 years old, never been in an accident that was my fault, or get a speeding ticket, so I have nothing against my insureance. I'm a step 14 now, but my insureance is still $2500 a year. I'm in a weird mood over this problem, so bare with me. I am on my own insureance, and my coverage is pretty high, so thats why it is so much money. I was going to put a lift kit in it, bigger tires, all kinds of things. But i decided to reconsider. I have about $4,000 dollars in savings right now. I'm in college. For the longest time, around the age of 15-16 I wanted a mustang. I was obsessed with them, and I never knew why. It's not really about them being a decently fast car, that's not what excites me. It's more of the nestalgia, the look, the feel, and of coarse the sound. I don't think anything can come close to sounding better than a mustang 5.0. Even the 5.0 in my truck doesn't sound the same. When i was 16 looking to buy my first car, that's all I looked at. I looked at a few, couldn't really find what I wanted. The whole time my parents were trying to talk me out of one. They kept taking me to look at other vehicles. I found this red F-150 that I was just attached to the first time i saw/drove it, and I didnt even have my license at the time. Realised that it would be more useful to me than a mustang, with the winters we have here, and the toys I want to be able to tow. Bought it, and it got wrecked a year and 1/2 later as you all know. Throughout that time, I totally forgot about mustangs. I didn't have a drive to get one, I was all about trucks. Now, I know a lot about them, and got another, more expensive truck after my accident. Now, for some reason, i'm back into mustangs again. I'm more into them then before. I want a 94-95 GT, anything in good shape is around 7-9 thousand. My issue is that I'm getting told not to buy one, not to do anything but save my money from my parents. In my eyes, this is the only time I'll be able to afford to buy one. A few years down the road, they say I won't have penny's to rub together unless i can keep the job I have. I work in telecommunications, and on a good week, make 1300 bucks. Money isn't an issue for me right now. My problem, is that it's going to cost me 7-9 thousand for the car, few hundred in taxes, and push my insureance up, how much i don't know, but probably into the 5,000 a year range. I don't understand why they make you pay so muhc for two cars, you can only drive one at a time! Other then theft, what else is there a need for if you can only drive 1? HATE insureance. I can come up with the 5,000 easily but is it worth it? Do you think i'm crazy or insane to do this? I don't want to sell the truck I have, I would have already. I'm going to be living wiht my parents until i'm atleast 24 or so, so in my eyes by that time i can save up a lot of money, and this few thousand dollars is going to be pennies compaired to what i need then. I want to do it, I really do, but do you guys think i'm crazy? My insureance rates will go down next year or the year after when i'm 20 (i don't know what age the next drop of steps is). So i will be seeing big discounts, and will only have to pay the hefty hefty $5,000 or so price tag once or twice. I feel a large want to have two cars, just to have the choice of which to drive in a day really has a big cool factor to me. So what's your take on this, I need some imput from other brains.


Primary rig is Green Thunder:
95' F-150 XLT 4x4, 302, 5 spd, MSD 6A, Flowmaster American Thunder Exhaust, Sunroof, Clear corners w/ Diamond headlights, CD player with 2 10" subs and some 32" BFG Muds .

That's it for mods now, saving for a Stang. Check out my Gallery for a look-see.

 

Other parents only WISH this was a problem for them. You obviously have a good head on your shoulders, and will be able to make a decision. Personally, I'd pass on the Mustang simply because of the insurance, but I'm not a young man. Your parents have brought you this far, have been around longer, would never give you bad advice, nor do anything to hurt you, so why not think of the advice itself other than the fact that it's your parents giving it.

 

Your wanting a Mustang is just that, a want. It's not a need, it's a want. If you didn't have a car and you need one then that would be a different story. We all know the feeling of wanting something soooo bad we can taste it. But you've also pointed out some very good reasons not to get the Mustang, mainly money. What's the point of having a second car if it's going to drain your saving and cost you an arm and a leg to keep it. Insurance is high for you because of your age. A lot of 16 to 18 year olds are killed in the kind of car you want, that's why the insurance is so steep. It's not your fault, that's just life. I don't know what your relationship is with your parents, but from past post sounds like you have a good one. I'm of the belief that if your living under your parents roof, it might be wise to follow their advise, at least to keep peace in the family. They were your age once and are passing on what they have learned over the years in the hope that you won't repeat some of the mistakes they may have made it their youth. Time has a way of giving you a different prospective on things. A prospective that your parents have, but you don't see yet. I think if you buy this Mustang, in the long run you may regret it, IMHO.

No your not crazy, you sound pretty normal to me.

BTW my first car was a 1969 Mustang with a 302. I loved that car. I still have a soft spot for the older Mustangs. So I understand your feelings for the Pony cars. But now that I own a truck, I'll never go back to a car again.

 

>No your not crazy, you sound pretty normal to me.
>
>BTW my first car was a 1969 Mustang with a 302. I loved that
>car. I still have a soft spot for the older Mustangs. So I
>understand your feelings for the Pony cars. But now that I
>own a truck, I'll never go back to a car again.

Umm....no, I think he's crazy! :P NAW! Just kidding!

I agree. Hold off for a while and see how you feel about it later. Your parents are giving good advice. My dad said the same thing to me all the time. But did I listen? Noooooo. Perhaps I should have. Good habits are hard to break.

 

You're right, I do have a good relationship with my parents. I think that if it was last year, when I was making 9 bucks an hour at a crummy job, I'd say no way possible. The reason i'm really considering it, is because like i said, on a good week i can make 1300, on a bad week, 500. So 500 times 52 weeks in a year, $26,000 dollars. I've been with the company for a few months, and most of my paychecks were over 600, I had 1 at 500. Last year I busted my butt to make a miseally 7,000 bucks in a year. So in my eyes it's like, yeah it'll cost me, but i can afford it. My mom told me to save half of my money, which isn't a bad idea. So what I figure is that i'm already stuck paying the 2500 bucks for the truck I have. I owe about 1500 for the rest of the year. I wouldn't buy the mustang until probably next summer if I was able to. By then, I should have pleanty. Since my insureance will go down a few points, i'm not sure when, but soon, it'll save me a bunch. I can handle the money, it's just, is it worth it to me to spend it. I'm going to have to talk to my insureance company and find some information out. I'm not a speed demon, my parents know that, so they arn't worried about that part. In my eyes, I feel like I won't be able to afford the car in 5 or so years, when I can easily afford it now. So what i'm sayin is, I'm a little hesitant to wait because I probably can't afford it when i'm older, expenses are higher, and i'm trying to buy a house. Right now, my expenses are really low, I pay gas,insureance,food, and for any mods I do. Thats about it, I don't spend my money on many things, and I don't waste it on things I don't really need. So whatcha got for me hehe.


Primary rig is Green Thunder:
95' F-150 XLT 4x4, 302, 5 spd, MSD 6A, Flowmaster American Thunder Exhaust, Sunroof, Clear corners w/ Diamond headlights, CD player with 2 10" subs and some 32" BFG Muds .

That's it for mods now, saving for a Stang. Check out my Gallery for a look-see.

 

Just a suggestion, but why not find a older Mustang that is going to appreciate in value. I have nothing against buying a new one but it sounds like you have a good head on your shoulders and buying a old Mustang as an investment with the occasional drive would not be a drain on the savings. It doesn't have to be a high dollar Mach or convertible. A nice coupe with a V8. Put some nice wheels and add some goodies and you have your good looking ride. Shopping around you should be able to spend the same amount of money for an older 'Stang and sell it for a profit instead of a loss in a few years. Of course some late model Mustangs will become collectable eventually. Just thought I give you another idea to ponder.

 

I've considered that, I almost bought a 69 mustang. Thats a good suggestion, problem is that I don't have a garage, and I don't have the knowhow or ability to restore a car right now. I still have a lot to learn, and it's beyond my abilities. A garage is an essencial to restore a car. I could buy one that's 1/2 way restored, but again, it costs a lot to put it together and get it to be reliable and bring it back to A-1 condition. I would like to do that in the future, but I think it's out of my grasp and it's not as much of an interest to me as getting a 94-95 is.


Primary rig is Green Thunder:
95' F-150 XLT 4x4, 302, 5 spd, MSD 6A, Flowmaster American Thunder Exhaust, Sunroof, Clear corners w/ Diamond headlights, CD player with 2 10" subs and some 32" BFG Muds .

That's it for mods now, saving for a Stang. Check out my Gallery for a look-see.

 

[updated:LAST EDITED ON 08-Sep-02 AT 12:06 PM (EST)]I'm not old and wise like the other guys, but I have a similar opinion. I have my pride and joy, my '77, and I swear that every time I drive it anywhere, I fall in love with it more. Then seeing the kind of tasteless, no-class TRASH that they sell at dealerships nowadays (mainly Cadillac SUV's, and anything else with plastic fenders), I know that as of now, I'll never drive a new car. This is why I'm going to buy a beater. That's right, a 93-95 Ranger or S10, the ultimate beaters. I realize that in college, especially a military college like this one, I have no time to properly care for my classic truck, such as washing it, detailing it, I barely even have time to change the oil. This is why I'm going to leave my classic at home in the garage, and get a beater with an AC, and a nice little motor that I can thrash, and still demand 20 MPG out it. I really like your relationship with your parents. I'm graduating in May with a BS in Civil and Environmental Engineering, and if I can get a job in Marietta, GA, my hometown, I'll definately live at home until I get married (which is not any time too soon). Save your money, you'll be amazed how fast it dissapears in college. I used to pull in $400/week paychecks working construction all summer, and all that would be gone by Christmas. Keep you job, and get that degree. Get a beater, you won't pay much for insurance, just get liability, and don't spend any money on it. I know, not spending money on a vehicle is a huge task to acheive, especially for me, the aftermarket parts-buying champion, but think about all that money that you're saving. Good luck man! TK

'77 F100, 302 (the aftermarket Prodigy), C4
Cadet Second Lieutenant John F. Daly III
South Carolina Corps of Cadets, The Citadel
The TorqueKing

 

just keep in mind, when you get a fast car you will want to GO fast.
you dont have any speeding tickets, yet.

as for insurance costs you should check and see if you can raise your deductable. im 19, and i am paying $210 or so a month for a 2002 F250 extended cab V-10. i saved quite a bit of $ by raising my deductable from 500-1000, which may save me some money now, or it could really hurt me if someone without insurance hits me. im sort of taking a gamble.

as for having toys, you are young, and so am i. i have owned a few four wheelers, and some pretty nice vehicles. if i were to get the chance to do it again, id buy a house instead of toys.

BuiltToughF250

 

I'm to scared to go fast on the street. My ex-girlfriend almost died because of some idiot speeding when my other truck got totalled. I'm not into that kind of life. I've driven my sister's 99 mustang GT, my mom's car is decently quick (4.6L V-8 cougar) and I just don't have the urge. I'm also to scared to get caught speeding, if i get a ticket i'm toast. My college education is cheap, I live at home and will be for another 4-5 years ATLEAST. UGHH I hate the decision making process .




Primary rig is Green Thunder:
95' F-150 XLT 4x4, 302, 5 spd, MSD 6A, Flowmaster American Thunder Exhaust, Sunroof, Clear corners w/ Diamond headlights, CD player with 2 10" subs and some 32" BFG Muds .

That's it for mods now, saving for a Stang. Check out my Gallery for a look-see.

 

I don't know what state you're in but here in Fla. your insurance rates would remain high until you reach the ripe old age of 25. Also - male, under 25, racey car = higher premiums. Truck insurance is generally much lower because they are presumed to be less of a risk of hot rodding/tickets/wrecking, etc. In other words not a "High Risk" vehicle. It doesn't matter how you really drive, you're automatically in that high risk class.

I would do as BuiltTough suggested and check with your insurance company to find out what your premium would actually be and at what age you stop getting penalized for age. That may help you make up your mind. You should have many-a-year in the future to get your dream car.

 

Well the law is different here I think, my sister is 22 and I think she is either the lowest step 9, or close to it. No accidents or tickets. I got a quote of 1800-1900 on a mustang if it was on my parents insureance, my truck was 1500, so a mustang isn't much more than a truck. Trucks can cause a lot of damage and the F-150s are a frequently stolen vehicle around here. Who knows, I do need to check into that. Anyone else please chime in, i'm still hoping for more input.


Primary rig is Green Thunder:
95' F-150 XLT 4x4, 302, 5 spd, MSD 6A, Flowmaster American Thunder Exhaust, Sunroof, Clear corners w/ Diamond headlights, CD player with 2 10" subs and some 32" BFG Muds .

That's it for mods now, saving for a Stang. Check out my Gallery for a look-see.

 

Here's my two cents. I'm in my 50's and I have several trucks and older Mustangs. I my opinion you need to put some of that money back for that 'bad day'. If you really feel the need for a Mustang, I would recommend that you look for an older Mustang that doesn't need a lot of work. Preferably one that doesn't have a bigger engine, for two reasons, 1 is insurance, the second is the purchase price will be less. You can drive the car for as long as you want and, if you take care of it, get your money back. It's far cheaper to buy a car that is already restored than it is to to restore it after you buy it. Also you get to drive it and enjoy it sooner. You can modify the car to some extent and not damage resale value. Parts are readily available for the older cars. The newer cars have some advantages also. They are quieter, get better mileage and look pretty cool, too. But, I think insurance is more on them and they are depreciating in value. They are also made with a lot more plastic parts that will get old and brittle with time and probably these parts will be hard to find. The older cars all went through a period of time when parts were impossible to find before the aftermarket kicked in and started making new ones. I don't know if this will ever happen with the newer body styles. I hope you can continue to make the good money, expenses tend to rise to meet the income. Good luck with the 'stang.

 

I just want to know what kind of job you have. If i could make that much money a week, I'd be in heaven!!

 

Hey MustangGT221,

From the sound of it, you are in a pretty good position. Actually, a LOT BETTER than most. While this is the case for today, what about the future? Will you still have that good job a year or even 6 months from now.

I do know what it is like to be your age (had to go through it too) and so do your parents. I am sure that they have also been through the downturn in the business side of life and can tell you what the affects might be. Just something to consider.

While thing are good, SAVE, SAVE, SAVE for when things are not so good. This isn't the best of financial times, as they say.

Wish I had your parents when I was growing up.

Just my $.0000002 and good luck.

HarryO

P.S. I have 3 kids and my youngest is 17, my oldest is 25 and she wasn't able to move out until 8 months ago (College and part time job).