Currently debating buying new vs. used. Losing my company vehicle benefit that I've had for 10+ years due to market constraints so I am looking for a daily driver. ATM I'm debating on a new 5.0 GT Premium vs a 03-04 Cobra. I really like the idea of having a warranty along with some of the more modern features on the new cars. Wondering what kind of deals you guys have gotten in the way of rebates or financing options lately when buying new.
Buying new vs used
- Thread starter jmccown
- Start date
toss up a quarter...if the warranty and modern features gives you a warm and fuzzy go for it!
I was in the market for another 03-04 Cobra over the past few months. I found a few that were priced right but were obviously beat to shit. For a decent lower mileage 03-04 you're looking at spending mid 20's..... For the hell of it I decided to test drive a 13 GT Premium and was blown away by the difference in overall quality (Especially the interior)....The power of the 5.0 was also a pleasant surprise. Dealer wouldn't move all that much on the 13, so I picked up a used 5K mile 2011 GT Premium (Showroom Condition) for what I had budgeted for the 03-04 Cobra...I couldn't be happier....Yes the ease of big power potential really isn't there with the 5.0, but the 2 cars are totally different and the GT is in a league of its own and I'm glad I made the purchase.
Good luck with whatever you choose....If you decide on a Cobra, call and talk to Robert at High-End Auto. He's a good guy and a straight shooter. :beer:
Good luck with whatever you choose....If you decide on a Cobra, call and talk to Robert at High-End Auto. He's a good guy and a straight shooter. :beer:
Robert has a nice Sonic Blue Cobra that I'm looking at now with low mileage. I have drove a new Roush and a new 5.0 and really like them alot. What kind of interest rates are out there for an 11 or 12 model GT? Usually interest rates are pretty high on used aren't they?
I picked up a used 12 for 26k that only had 8k on it for 3.95% intrest rate. I went through USAA. Intrest rates really aren't bad at the moment.
I looked at a nice 11 GT in Charleston WV this weekend that was $28K, it had 15K miles. I thought that was a decent deal.
well from my personal experience this is what I've gathered.
*buying new is easier to get a loan approval (if that's the route you'll be going).
*with an optimal credit score (650+) you should have no problem getting an interest rate under 5%. I personally got 2.99% at around 700 cs.
*The incentives I received were: 1000$ cash back and 500$ for student.
I bought the car over summer but got the car for 27.250$ OTD (not including TTL, because I live out of state). I was considering a last gen gt500 along with the 2013 5.0 but ended up going with the 5.0 because of warranty. Looking back warranty really shouldn't have been that big of a deal, as I plan on modding it in the near future, and I'm sure you know how ford is on warranty if you've been lurking here long enough.
However, you can get a 2011+ with fairly low miles (under 10k) for significantly cheaper than what I got mine for new. And lets be honest, 10k miles really isn't shit. Although, there always is the peace of mind knowing that your car is un-molested when buying new.
All depends on what you want. Maybe check out the cars for sale on this forum? If you plan on doing some mods you can get some very nicely modded 5.0's for a great deal.
*buying new is easier to get a loan approval (if that's the route you'll be going).
*with an optimal credit score (650+) you should have no problem getting an interest rate under 5%. I personally got 2.99% at around 700 cs.
*The incentives I received were: 1000$ cash back and 500$ for student.
I bought the car over summer but got the car for 27.250$ OTD (not including TTL, because I live out of state). I was considering a last gen gt500 along with the 2013 5.0 but ended up going with the 5.0 because of warranty. Looking back warranty really shouldn't have been that big of a deal, as I plan on modding it in the near future, and I'm sure you know how ford is on warranty if you've been lurking here long enough.
However, you can get a 2011+ with fairly low miles (under 10k) for significantly cheaper than what I got mine for new. And lets be honest, 10k miles really isn't shit. Although, there always is the peace of mind knowing that your car is un-molested when buying new.
All depends on what you want. Maybe check out the cars for sale on this forum? If you plan on doing some mods you can get some very nicely modded 5.0's for a great deal.
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Been watching the classifieds on this site for the last week or so as well. I have a 700+ fica so that shouldn't be a problem. It's just been awhile since I've had to buy anything I just want to be aware of what I should consider 'a good deal'. I figure if I go with a 03-04 the interest rate will be higher around 5% since it is an older car from what I've seen.
At my local credit union, they have 2010-2013's for up to 63 months at 2.74%, lower if you have other loans with them, and they will go back to an 03-04 but it will be 48 months at 7.5%
I am looking at the same thing but buying a used 2013 vs a new one. The biggest think I have noticed is that the used people are asking the same if not more then picking up a new one with the same options.
7.5% = ouch!!
Thats pretty high. I got my 5K mile Premium for 24, and I highly doubt that was the best deal out there.
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Thats about right because banks usually don't want to touch anything that old...Another reason I went with a newer car. Got 5.9% on the '11.
I would check out refinancing it with another bank credit union, even US bank would be in the low 3% for a 2011.
Yup, already shopping.
I would never finance a used car. Mostly because of the high interest rates, but also the potential for repair costs and maintenance. My '03 needed a trans rebuild in less than a year after I got her used. And of course it was just after the extended Ford warrantee ran out. No regrets, but glad I was prepared.
penfed.org has awesome rates for used cars, buying a performance car for the warranty is silly because we all know you are going to void that bitch in the first couple months
I got my base model 2012 with 74xx miles back in October for 22.6k and got 1.79% for 60 months at Navy Federal Credit Union. That is the new car rate but still applied as this car had less than 7500 miles. The Cobras are bad ass and have a lot of potential but they are getting up there in age and I really love the way the new ones drive. Good luck.
Look into financing through a credit union. I used TFCU and got 1.74%
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