What would you do?
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Post Fiend
Joined: Nov 2001
Posts: 14,947
Likes: 6
From: Topsfield, MA
What would you do?
If you were me what would you do?
19 years old, decent truck in the driveway, just moved into a new house with a garage that is begging for a toy. Just purchased a 04 snowmobile for $8,000 due in march/april of next year. My truck insurance is payed off till next june, truck is paid for, and I have a pretty solid savings account left. I want a mustang, but can't get rid of the truck. I have about $15,000 in my account and can't really decide what I want to do. Should I save it? Should I spend 1/2 of it? I make about 500-700 a week take home pay, so I get about 2 grand a month. I think a new mustang like a cobra or mach I would be out of the question because my insurance rate would be astronomical. I saw a 69' mach I on tv that was really nice looking. I'm thinking about either a 94-95 GT or a classic mustang. I don't want a mustang that is totally gone, I need one that's like 1/2 restored. I would kind of like one that I can drive that's not in perfect shape. Driveable is a must. What do you guys think?
19 years old, decent truck in the driveway, just moved into a new house with a garage that is begging for a toy. Just purchased a 04 snowmobile for $8,000 due in march/april of next year. My truck insurance is payed off till next june, truck is paid for, and I have a pretty solid savings account left. I want a mustang, but can't get rid of the truck. I have about $15,000 in my account and can't really decide what I want to do. Should I save it? Should I spend 1/2 of it? I make about 500-700 a week take home pay, so I get about 2 grand a month. I think a new mustang like a cobra or mach I would be out of the question because my insurance rate would be astronomical. I saw a 69' mach I on tv that was really nice looking. I'm thinking about either a 94-95 GT or a classic mustang. I don't want a mustang that is totally gone, I need one that's like 1/2 restored. I would kind of like one that I can drive that's not in perfect shape. Driveable is a must. What do you guys think?
Posting Guru
Joined: May 2003
Posts: 1,437
Likes: 0
From: Oak Harbor WA
What would you do?
I am 20 and in the exact same boat. I wanted to get a newer truck with a diesel engine, but I have decided the trucks I want are a little out of my price range at the moment. So I am putting it off for a couple years, save the money and find a good fastback.
Post Fiend
Joined: Sep 2000
Posts: 8,238
Likes: 3
From: Oregon
What would you do?
First, off, you are in way better shape finacially than I was at your age, good going. I'd keep half of your savings (lets face it, a house is your best investment and a large down is good), and spend the other half on a classic Mustang. As you know, you'd pay through the nose in insurance for a new one, but not for the old ones. For 8k you can get a really clean, really nice late 60s Mustang, and then pleasurably spend a little money and time each paycheck making it the baddest stang in your state.
Elder User
Joined: Jun 2003
Posts: 505
Likes: 0
From: Castle Rock, Colorado
What would you do?
Lease? Cheaper payment a month, put about $2k down and it's new. I don't know if Ins. would be cheaper with a lease or not. Maybe a new 4.6L, not a cobra. Either that or look at getting a mid to late 90s Cobra. Just a few thoughts.
Laughing Gas
Joined: Nov 2002
Posts: 1,143
Likes: 18
What would you do?
Geez, what am I doing wrong?
I'm 22. I average about a hundred bucks in my account (that's alot). I can't seem to get a repair done on my truck without it needing another one two/three weeks later. I live in an apartment. My grand marquis keeps going, but she's gonna give out someday and then I'll be up dump creek. Student loans. I just switched jobs to reduce stress and took a big pay cut.
How do people make and save money? I bust my butt at every job I have, even if I don't like the work. I just can't get ahead.
If you've got fifteen grand to spend, don't go blow it at once. I'd say save it. When I got out of college I had about fifteen grand saved up from the farm. I payed for a truck, a year of college, and payed for everything when I was with the nutcase that was my girlfriend at the time. Now, here I sit with no money and I struggle to make bills. Yes, I'm ranting a bit, but just because you have the money doesn't mean that you have to spend it. I thought I had a plan when I graduated. I feel so stupid.
I'm 22. I average about a hundred bucks in my account (that's alot). I can't seem to get a repair done on my truck without it needing another one two/three weeks later. I live in an apartment. My grand marquis keeps going, but she's gonna give out someday and then I'll be up dump creek. Student loans. I just switched jobs to reduce stress and took a big pay cut.
How do people make and save money? I bust my butt at every job I have, even if I don't like the work. I just can't get ahead.
If you've got fifteen grand to spend, don't go blow it at once. I'd say save it. When I got out of college I had about fifteen grand saved up from the farm. I payed for a truck, a year of college, and payed for everything when I was with the nutcase that was my girlfriend at the time. Now, here I sit with no money and I struggle to make bills. Yes, I'm ranting a bit, but just because you have the money doesn't mean that you have to spend it. I thought I had a plan when I graduated. I feel so stupid.
Elder User
Joined: Jun 2003
Posts: 505
Likes: 0
From: Castle Rock, Colorado
What would you do?
88grandmarquis. Not to worry, you're doing fine. Not to critizise North Dakota or anything, but I bet you're aren't going to land a $75k a year job there. At least the real estate is cheaper! I make really good money, I'm 23, have a stay at home wife with my 9mo. old crumb snatcher. We barely get by, I mean, barely. Real estate in Denver is pretty expensive. But the main thing is getting by and you're doing it! Put yourself in a third world country, you's counting your BLESSINGS!
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Elder User
Joined: Feb 2003
Posts: 760
Likes: 0
From: Boise, ID
What would you do?
Get a classic Mustang (64 1/2-69). Decide which body style you want (vert, coupe, fastback) and find one loaded with factory options. Somewhat like your house, these Mustangs are an investment. They don't depreciate. I bought my 68' Stang twelve years ago in cream puff condition for $3000. Today it's worth around $6000 in the condition it's in.
BTW, stay away from 71'-73's and 73'-78's. I had two 71's before I bought my 68' and they just look like turds. That's just my opinion though. Oh, and they also weigh about 1000lbs more than a pre-69'.
BTW, stay away from 71'-73's and 73'-78's. I had two 71's before I bought my 68' and they just look like turds. That's just my opinion though. Oh, and they also weigh about 1000lbs more than a pre-69'.
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Elder User
Joined: Feb 2003
Posts: 760
Likes: 0
From: Boise, ID
What would you do?
Originally posted by MustangGT221
I think a 69-70 mach I is nice.
I think a 69-70 mach I is nice.
Still kicking!!
Joined: May 2003
Posts: 6,061
Likes: 6
From: Kalispell, Mt.
What would you do?
Im still trying to figure out what kind of job a 19 year old has that makes more money than I do?
What ever it is, you still should save the money, build up an older rig... something you can be proud of.... yeah you could have a shiny new Stang, but where is the pride? Build a car from the frame up like I did my 55 Ford Panel, before it got stolen, then you'll have something youll be proud of forever and a lot cheaper too.
What ever it is, you still should save the money, build up an older rig... something you can be proud of.... yeah you could have a shiny new Stang, but where is the pride? Build a car from the frame up like I did my 55 Ford Panel, before it got stolen, then you'll have something youll be proud of forever and a lot cheaper too.
Posting Guru
Joined: Sep 2002
Posts: 1,490
Likes: 3
From: CT
What would you do?
I'd save the money, (or save it for a new Mustang). I also agree with everyone else, don't go blowing it all at once. I invested in my truck, but while I still have to pay monthly payments, I have enough in the bank ($18,000) in case something happens to me, or the truck and I get in an accident or something.
Save the money, you never know what may happen.
Mike
Save the money, you never know what may happen.
Mike
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Post Fiend
Joined: Nov 2001
Posts: 14,947
Likes: 6
From: Topsfield, MA
What would you do?
I am a supervisor for a call center. We run infomercials on the Atkin's diet and the Coral Calcium. We have a new product line called At-Ease, has some natural supplements, 1st one being stress relief. I'm going to get the auto-hunter magazine when it comes out on tuesday and have a look-see to find something that's out there. I don't think 5-8k would be too much to spend to start. I would love to find a car w/o a motor and tranny in it but that has a decent body and essentials. That way I can do what I want for a motor/tranny combo and the car would be cheaper. I have the 8K set aside for my snowmobile, but if anything really did happen I could just make the payments on it instead of paying it off right away. I highly doubt that will happen but, ya never know. Since I don't have much for bills and I am able to manage money I don't have much for expenses right now.
Post Fiend
Joined: Jun 2002
Posts: 13,873
Likes: 3
From: Atlanta GA
What would you do?
> I have about $15,000 in my account and can't really decide
> what I want to do. Should I save it?
Yes, you should have in the bank 6-8 months' worth of "living" money saved in case of bad times or unemployment. If you were in a car accident and broke your back or neck and were disabled, many government benfits would not kick in until a few months down the road. CYB.
> what I want to do. Should I save it?
Yes, you should have in the bank 6-8 months' worth of "living" money saved in case of bad times or unemployment. If you were in a car accident and broke your back or neck and were disabled, many government benfits would not kick in until a few months down the road. CYB.