So I have just 2 more car payments left and it's all mine. I have been contemplating a new car for a bit, but I'm not 100% what I want to do. Most likely, I will keep the GT cause I ain't gonna get **** for it considering it's a 2000 with 123,000 miles. Still runs good. Probably won't be a good 6 months or so until I start looking, but wanted to get some opinions.

Option 1 - Keep car, instead of financing a new car, take out a loan and buy a built engine and supercharge it as well as some more suspension mods.

Option 2 - Keep the car, but look for another one. Car choices would be, in no particular order, 05-06 GTO, 04-06 Evo, 03-04 Cobra, 04-06 STi, 04-06 CTS-V (although I've been reading that the rear diffs are horrible and break constantly), or 01-02 ZO6 (might be hard to swing this one with the wife)

What would you guys do? Insurance isn't a concern as I've already called for each of these cars and my insurance would go up by no more than $30 a month.

 

Well. I'd say either Z06 or Cobra.

 

Take a loan out re finance the car and get a built engine. I am about to order a KB 2.6H in 2 weeks and ditch the procharger. Also having a built engine, blower cams, ported heads etc put in. I am looking to get $2000 for my p1sc set up. Head unit has about 12k miles on it and never ran more then 8psi.

 

If you finance a new car, you might get one that is currently faster than your GT, but you'll have all those payments and if you want to mod it to make it faster and better, you'll have to spend even more money, which would suck.

You could stick with your GT and being as how you're used to it and it is probably damn near the way you want it by now, spend that money on suspension/supercharger/built engine, and have a Mustang that could eat damn near all of those cars you were thinking about getting.

With that being said, I voted for option 1 because that is what I plan to do to my '05 after I pay my car off in a few years.

 

All of those options are "fun car" options.. If you bought any of those, the Mustang would go from being the Car you drive for ***** & giggles to the car that gets neglected and rarely driven.

I chose option one, but if you're wanting a new(er) vehicle, I'd say get a cheap, small SUV/Truck or something to drive everyday while you work on the Mustang. JM2C.. That's my plan when/ if my Stratus ever sells.

 

01/02 Z06. Find one in the low 20k's.

Then again I am Corvette bias.

 

Either way I'll have some form of a payment. So it's a matter of paying on a new car, or paying to mod my current car. If I went with modding my car, it would consist of probably a built shortblock from MMR, find some maybe slightly used heads and cams, vortech supercharger, full coil overs, panhard bar and torque arm, and then top it all off with a 00cobra r hood.

 

I thought about getting a cheaper beater or something, but it always seemed like when i would drive my wifes civic is when I would see all the punk kids who thought they were cool and wanted to race. Plus we already have an SUV, but I do understand your point.

You can find those under 20k these days. Even the 07 ZO6's aren't holding their value. I've seen several with low miles for around 40-45k. Just think in a few years, they could be down to the 20ks.

 

lol, all of the Trucks always try to race me when I'm in the R/T.. But that's pretty normal around here. Actually the second day I had the Mustang a Silverado SS tried to race me, I bogged it in 5th gear and still rolled away from him..

I'll be getting a little Ranger or something similar whenever I get rid of the Stratus.

 

#1!

I agree with Black Sunshine.

 

Sell your GT and get a 03-04 Cobra or maybe a new vette.

you only live once!

 

I'm personally not a fan of taking out a loan to mod a car. IMO mods are something you should only do if you have extra cash laying around. We bash people who want to take out a loan for a TV or whatever else, so I don't really see the difference. That's just my worthless opinion.

I like the idea of keeping the stang and getting another car.

 

True, we do bash people for that, but then again, thats for something thats like $1500. I would be doing a complete engine rebuild, changing out suspension, and possibly paint job. Almost like having a new car.

But I did post this for everyone's opinions and I appreciate all of them.

 

Very true....your a smart dude, so you'll do whatever makes sense

 

Thanks man. You know I love my wife and everything I have, but sometimes I just think about being in the job I have now and what if I was single and just renting an apartment or something. I would have some very cool things. hahaha

 

 

LOL....just know you aren't the only one that has those feeling. ha ha ha ha. My wife and took the baby up to Tahoe this weekend and all I could think about are the great times I had with my friends up there. ha ha ha.

 

I voted for keep your car and look for new one, but with the exception of possibly keeping the car and just saving the extra cash. Mine will be paid for this year and I would love to do some performance modding. But I'm wary of the economy right now so I'm dumping anything I can into savings. Plus I'm getting old and I want some extra security blanket for my family. My Mustang runs good still and I've yet to get a ticket for letting her eat a little bit. For sure I would like a faster car but that isn't on the top priority list anymore. Just want to make sure I can get my house paid for is my big concern, plus have a life I'm used to..

If I lost my job today I'd be screwed in a very short amount of time..

I'm thinking worst case scenario lately. And once my car and my wifes car are paid in full. That's a liitle less load to worry bout..

 

Keep your car and wait till its paid off. Then save some money till you can pay cash for mods. Don't get a loan to mod your car that is retarded. First get a supercharger or whatever power adder you like and use it for awhile and get used to having some power. Worst thing ever is when someone goes from no power to a good amount of power, and then kills themselves because they can't handle it.

 

cough... time for a 5.4 swap and a blower... cough

 

Why don't you just enjoy not having a payment on anything for a couple of years? I paid mine off in 2007 and it is damn nice having an extra $330 in the bank each month. Maybe take the payments you were making each month and set it aside every month and when the time comes you will have a nice chunk of change ready to go towards something new.

I mean you paid the thing off...ENJOY IT FOR A WHILE!

 

I've thought about going that route, but at the same do I really want to slap a supercharger on a car with 123,000 miles on it currently. The engine is running strong, but what if it craps out. Then I gotta spend the money anyways and get a new engine and I'll be down a car. The power I'm not worried about as I drive responsible as it is and I know I would take the time to learn the car all over again. I have driven some high powered cars before. Good input though. Thanks.

Oh don't worry, I've taken that into consideration.

I'm enjoying it now even with the payment and while it would be cool to have the extra $250 or so in my pocket, it's not a huge issue. I can already set money aside now with the car payment and the other bills. Plus, if I'm saving this extra cash, then the wife will see it as more stuff we can do to the house. haha

 

Miles don't matter they don't weaken the rods or crank or pistons. All miles do is wear out the bearings, rings, cylinder walls get scored up etc.. if the motor runs well has good compression then I see no problem running a simple vortec or Procharger in the 10psi rang all day. Then save up more till you have enough for a better bottom end for the motor and get that done and up the boost.