Are a lot of people forgetting the 2011 GT is still a GT?

[Coyote 5.0]

I like the Z06 arguments here, that's funny. Especially since we're talking about resale value.

Purchased my 08 Z06 2LZ, JSB, Chrome, Nav for right at about 70,000 for invoice in February 08. It's a damn good thing I got it for invoice, saving me almost 10,000 on the car which stickered for 79,995. Sold it in April 2009 when I moved back to Colorado for for $50,000. That's right, in one year, close to half it's value.

That one was hard to stomach.

A member mentioned it earlier, if you're buying a car like this with resale in mind, you probably need to look else where. Toyota would love to sell you a Camry.

If your referring to my post I said buy a bicycle!!! NO CAR IS AN INVESTMENT UNLESS IT IS A CLASSIC!
I sold my 09 Corvette in Sept. 2010. MSRP 60,270 I paid 52,500 I got 36,000 after 18 month and 6,000 miles Again I say if you buy a NEW car worrying about resale RIDE A BICYCLE!!!

 

[Torch10th]

If your referring to my post I said buy a bicycle!!! NO CAR IS AN INVESTMENT UNLESS IT IS A CLASSIC!
I sold my 09 Corvette in Sept. 2010. MSRP 60,270 I paid 52,500 I got 36,000 after 18 month and 6,000 miles Again I say if you buy a NEW car worrying about resale RIDE A BICYCLE!!!

No, I wasn't referencing any one particular post. But yes you're right. If you buy new worrying about that, your backing yourself into a whole.

In regards to classics I agree and disagree. There's tons of variables on worth of those cars. Some aren't worth the steel they're made with and some are worth their weight in gold. Depending on the restoration, the original equipment, if it's a factory correct resto, or something custom.

I own a 69 Firebird and at the height of the muscle car game I could have probably gotten a pretty penny for it even with it not being complete. Now though I'd be lucky to get what I have into it.

The game changes too much and unless you're talking about million dollar garage queens, even classics are a good way to lose money.

 

[mustangc]

Comparing the 2011 GT to other new cars with similar performance, it is a competitive value. Ford's marketing department spends a lot of time and effort making sure of that. That is how the price point for the vehicle is determined.

With that being said, it is STUPID to buy a new car unless you are a millionaire. In fact, most Millionaires buy one or two-year-old used cars. That's HOW they became millionaires. Remember Sam Walton's old pickup truck? Read the book, "The Millionaire Next Door". It's very informative and helps you pick out those with a 'big hat...no cattle'.

Sure, buying a new car feels very good at the time, but that's because most people don't take the time to calculate how much it is ACTUALLY costing them. Car payments and depreciation are moneys that could better be spent building wealth. That way you don't have to depend on the Social Security and Alpo to get you through retirement.

Here's the truth about new cars, from the master of behavioral finance himself, Dave Ramsey:

"Take your current car out for a drive, open the window, and repeatedly throw $100 bills out the window. Now that sounds dumb, doesn’t it? But when you buy a new car, you’re doing the same thing the moment you take it off the lot... If you’re a millionaire, then feel free to go nuts and buy yourself a shiny, new car. But 98% of Americans simply can’t afford it. You’ll save a ton of money and heartache if you will just buy used! ...So why are we making such a big deal about new cars? One word: depreciation. New cars lose 70% of their value in the first four years. When you buy used, the original owner has already eaten the cost of depreciation."

It's called delayed pleasure, and it is a sign of maturity.

 

[Grant808]

it is STUPID to buy a new car unless you are a millionaire. In fact, most Millionaires buy one or two-year-old used cars. That's HOW they became millionaires.

It's called delayed pleasure, and it is a sign of maturity.

Wow. You just called me stupid and immature. Get off your high horse there...:kaboom:

 

[lsp408]

Comparing the 2011 GT to other new cars with similar performance, it is a competitive value. Ford's marketing department spends a lot of time and effort making sure of that. That is how the price point for the vehicle is determined.

With that being said, it is STUPID to buy a new car unless you are a millionaire. In fact, most Millionaires buy one or two-year-old used cars. That's HOW they became millionaires. Remember Sam Walton's old pickup truck? Read the book, "The Millionaire Next Door". It's very informative and helps you pick out those with a 'big hat...no cattle'.

Sure, buying a new car feels very good at the time, but that's because most people don't take the time to calculate how much it is ACTUALLY costing them. Car payments and depreciation are moneys that could better be spent building wealth. That way you don't have to depend on the Social Security and Alpo to get you through retirement.

Here's the truth about new cars, from the master of behavioral finance himself, Dave Ramsey:

"Take your current car out for a drive, open the window, and repeatedly throw $100 bills out the window. Now that sounds dumb, doesn’t it? But when you buy a new car, you’re doing the same thing the moment you take it off the lot... If you’re a millionaire, then feel free to go nuts and buy yourself a shiny, new car. But 98% of Americans simply can’t afford it. You’ll save a ton of money and heartache if you will just buy used! ...So why are we making such a big deal about new cars? One word: depreciation. New cars lose 70% of their value in the first four years. When you buy used, the original owner has already eaten the cost of depreciation."

It's called delayed pleasure, and it is a sign of maturity.

Just because you can't afford a new car, you are calling everyone who bought new car stupid???

 

[Coyote 5.0]

Yeah right all rich people drive USED cars!! I guess you don't know too many

I'll be stupid and immature and drive around in my depreciating NEW car that no one abbused, modded or farted on !!!!!!!!!!!!!

 

[mustangc]

Just because you can't afford a new car, you are calling everyone who bought new car stupid???

You're right that I can't afford a new car. That's because I'm not a millionaire yet. I make a good income, and I could easily afford the 'payment', but that is not the correct way to judge whether or not I can afford a new car. The two things that must be true before I can afford a new car are:

1) I can pay cash for it
2) Having the $??,????k of my assets wrapped up in something that is going DOWN in value won't have a significant effect on my net worth.

That's why those of us who are not millionaires are wise to stick with gently used cars. I didn't say everyone who buys a new car is stupid... I said that anyone who can't afford one (based on the above criteria) is stupid for buying a new car. I realize that financing a new car is normal... but normal's BROKE. That's why I don't want to be normal

 

[mustangc]

Yeah right all rich people drive USED cars!! I guess you don't know too many

I'll be stupid and immature and drive around in my depreciating NEW car that no one abbused, modded or farted on !!!!!!!!!!!!!

Read the book I recommended and you will find that is true. Just remember, many of the people who drive fancy new BMWs and live in 'rich' neighborhoods aren't rich. They may be high income earners, but if you measure richness as the 'accumulation of wealth', they may not be rich because they spend too much of their income. The inverse is true as well. Some people with low income can become wealthy over time by keeping their expenses down.

By shopping smartly, you can find well-taken-care-of used cars... even Mustangs. If you're too good to drive a used car, that's your own personal choice. But consider this, Also from Dave Ramsey's website:

"Think about it this way: If you were to invest that $475 (remember, this is the average car payment in the U.S.) into a good mutual fund with a 12% rate of return, you would have over $100,000 in 10 years! At 20 years, you would have made $470,000. And at 30 years? That mutual fund would be worth $1.6 million! "​

 

[Coyote 5.0]

Wow that's great!!! but let me know where I can get a 12% return on my money!!!!!

 

[OhIIICobra]

Comparing the 2011 GT to other new cars with similar performance, it is a competitive value. Ford's marketing department spends a lot of time and effort making sure of that. That is how the price point for the vehicle is determined.

With that being said, it is STUPID to buy a new car unless you are a millionaire. In fact, most Millionaires buy one or two-year-old used cars. That's HOW they became millionaires. Remember Sam Walton's old pickup truck? Read the book, "The Millionaire Next Door". It's very informative and helps you pick out those with a 'big hat...no cattle'.

Sure, buying a new car feels very good at the time, but that's because most people don't take the time to calculate how much it is ACTUALLY costing them. Car payments and depreciation are moneys that could better be spent building wealth. That way you don't have to depend on the Social Security and Alpo to get you through retirement.

Here's the truth about new cars, from the master of behavioral finance himself, Dave Ramsey:

"Take your current car out for a drive, open the window, and repeatedly throw $100 bills out the window. Now that sounds dumb, doesn’t it? But when you buy a new car, you’re doing the same thing the moment you take it off the lot... If you’re a millionaire, then feel free to go nuts and buy yourself a shiny, new car. But 98% of Americans simply can’t afford it. You’ll save a ton of money and heartache if you will just buy used! ...So why are we making such a big deal about new cars? One word: depreciation. New cars lose 70% of their value in the first four years. When you buy used, the original owner has already eaten the cost of depreciation."

It's called delayed pleasure, and it is a sign of maturity.

:lol1:

People never throw thousands of dollars at underlying problems on used cars with shady histories.

So in 2015 a 12K mile 2011 GT will be worth around $9K? Yeah I know I sold my mint 12K mile 03 Cobra this summer that was 7 years old for ~$7K...oh wait.
:kaboom:

Guess I'm a millionaire. :bored:

 

[sur_real1]

All my life I've bought used cars, up until 2 years ago. It is so nice to get into something that has a decent warranty, I don't have to worry about previous owners and situations. Other things to look at when buying a vehicle is TCO (sit down and seriously do the math sometime). My wife is big into the Dave Ramsey stuff as well, and we are frugal enough to afford 2 brand new rigs and 1 2 years old.

We are very blessed to have a hard earned savings, mutual funds and CD's. BUT, if all you do is save money and don't enjoy yourself on some sort of fun hobby (ours being cars), then it's all empty.

Off my soap box, I love my brand spanking new 2011 mustang GT Premium. I wouldn't have done it any other way. Negotiate hard, enjoy your new toy, don't worry about depreciation (life is too short), and thank God for all you have.

Besides, with 2012 coming up and the mayan calendar ending, might as well, LOL (I joke, I don't believe in that crap)

 

[OhIIICobra]

That's why those of us who are not millionaires are wise to stick with gently used cars.

LOL how can you confirm a used car was "gently used". :lol1:

Don't tell us Carfax either.

 

[Grant808]

You're right that I can't afford a new car. That's because I'm not a millionaire yet. I make a good income, and I could easily afford the 'payment', but that is not the correct way to judge whether or not I can afford a new car. The two things that must be true before I can afford a new car are:

1) I can pay cash for it
2) Having the $??,????k of my assets wrapped up in something that is going DOWN in value won't have a significant effect on my net worth.

That's why those of us who are not millionaires are wise to stick with gently used cars. I didn't say everyone who buys a new car is stupid... I said that anyone who can't afford one (based on the above criteria) is stupid for buying a new car. I realize that financing a new car is normal... but normal's BROKE. That's why I don't want to be normal

Well previously, you said if you're not a millionaire, then you can't afford a new car. And above you say you can 'afford' it if you can pay cash for it...
And that's two totally different sets of criteria.

While I don't meet you first set of 'requirements', I do meet your second set. But you still need to get off your high horse attitude. :bash: The broke and indebted people of this nation drive the economy. Don't knock them. Or call them stupid. :loser:

I have a decent income and live well within my means. Despite what you say, I could 'afford' to buy a much nicer car or have a couple more mustangs if I wanted...so I can damn well afford the '11 sitting in my driveway despite not being a millionaire!

 

[28]

You're right that I can't afford a new car. That's because I'm not a millionaire yet. I make a good income, and I could easily afford the 'payment', but that is not the correct way to judge whether or not I can afford a new car. The two things that must be true before I can afford a new car are:

1) I can pay cash for it
2) Having the $??,????k of my assets wrapped up in something that is going DOWN in value won't have a significant effect on my net worth.

That's why those of us who are not millionaires are wise to stick with gently used cars. I didn't say everyone who buys a new car is stupid... I said that anyone who can't afford one (based on the above criteria) is stupid for buying a new car. I realize that financing a new car is normal... but normal's BROKE. That's why I don't want to be normal

I payed cash for mine.. And I'm not rich.. It's called planning and requires patience.. In a way what you're saying is that you put a price on joy/hapiness.. I've bought used and none compare to when I bought new.. In fact the grief that sometimes follows from buying used is enough to wonder who's the stupid one.. Remember, you get what you pay for...;-)

 

[1Sick2Valve]

I dont care if my 2011 is worth $8 tomorrow. I don't regret buying it brand new a s watching it come off the trailer. Knowing no one has hot rodded it or farted in it. I smile everytime I sit it my car. So u can take your arrogant pompous attitude and leave.

 

[mustangc]

Well previously, you said if you're not a millionaire, then you can't afford a new car. And above you say you can 'afford' it if you can pay cash for it...
And that's two totally different sets of criteria.

The post you referenced says that both #1 and #2 should be met. If you are a millionaire, both are met. If you are not, you may still meet #1, but not #2. So both of my posts say the same thing, only the second post is more specific and explains WHY you need to be a millionaire.

We all have to pick the catagory we want to be in:

A) Broke people ask: Can I afford to make the payments? This is what keeps them broke. They're not making payments because they're broke, they are broke because they are making payments. This is normal. Normal is broke.

B) Rich people ask: Can I afford to pay cash for it right now? They're not paying cash because they're rich, they're rich because they are paying cash. That's a good first step, but to maximize the amount of good one can do with his or her money...

C) We should be asking: Can I afford to pay cash for this and still pay cash for my children's college, help those in need, retire with dignity, and leave an inheritance to my childrens' children?

I've been in category A for most of my life, and realized a couple years ago that being a rat in that wheel is STUPID. Being a category B is much better, but I'm trying not to get caught in that trap either. I've heard that the enemy of 'the best' is not 'the worst'. The enemy of the best is 'just fine'.

 

[mustangc]

I dont care if my 2011 is worth $8 tomorrow. I don't regret buying it brand new a s watching it come off the trailer. Knowing no one has hot rodded it or farted in it. I smile everytime I sit it my car. So u can take your arrogant pompous attitude and leave.

I don't regret the bacon double cheeseburger I had for lunch either... right now. However, when I'm suffering from a massive heart attack at age 45... I might regret it...then.

 

[28]

I don't regret the bacon double cheeseburger I had for lunch either... right now. However, when I'm suffering from a massive heart attack at age 45... I might regret it...then.

Good thing your saving up now for that triple by-pass you'll need by then huh? lol...:lol:

I'll tell you something my mother told me once when I was a kid.." If your gonna live your life always scared of getting hit by a bus for crossing the street, then well, you'll never get to see what is on the other side will you?"

There are 2 types of workin people.. Those who work to live and those who live to work.. You sound like the latter of the 2..

 

[mustangc]

Wow that's great!!! but let me know where I can get a 12% return on my money!!!!!

The average return of the S&P 500 over the past 100 years is 11.43% (compound annual growth rate of 9.53%). An average growth stock mutual fund should match or beat that.

If you're uncomfortable with the long time span... it has grown 12.93% (CAGR of 11.39%) over the past 30 years.

CAGR of the Stock Market: Annualized Returns of the S&P 500

Even if I'm half wrong... It's still a load of money!

 

[Coyote 5.0]

Please If there is a moderator online Have mercy on us and close this thread!!!!! :sleeping: :sleeping: :sleeping: