Ford Mustang Forums banner

1 - 17 of 17 Posts

·
Registered
Joined
·
173 Posts
Discussion Starter #1 (Edited)
Well, my transaction at the dealership turned sour. I filled out all the paperwork and supposedly "owned" a 2011 Mustang GT. I was supposed to have it driven to me and dropped off at my local dealership since the car was not based at my dealership (they got it from another further away). The called me and said "sorry, we have a problem, the car that was available for pick-up sold". Then they proceeded to ask me if I just wanted another color or a GT with different options, then the guy just flat out began to irritate me. After phone calls back and forth, I called off the deal. I don't feel comfortable with everything that occured, so I took my business elsewhere.

At the new dealer I went to, they had a new 2012 Mustang GT with 3.73 gears and the Brembo package. I am trying to get into that car instead and will know by tomorrow if I drive home with it. I guess this was all good because I will have a year newer car and the exact color combo and package I want.

So, I read an article saying that the 2014 GT should be completely different with a new bodystyle and powerplant was unknown. This got me thinking a bit. Should I just lease the GT with nothing out of pocket for 3 years or so, just to turn it in and be free and clear to buy the new 2014 or 2015 GT with the new bodystyle, or just finance it instead. If I leased it short term, I wouldn't have to worry about trying to sell my vehicle or the depreciation (like I would if I financed it). However, if I just finance my 2012 GT, after three years of ownership, I would HOPE to break even and not owe on the Mustang (however, I am not putting much of a downpayment), but I would have to try to sell it before buying the new one.

I am just looking towards the future, and thinking I don't want to have an "older" bodystyle of Mustang only after two years. If I leased, I wonder if it would help, because I can roll into the new body style. The thing that woirries me about financing this 2012 GT is that I won't be putting a lot down, so I don't know if I could sell it after three years for the same amount I owe on it.

What's your opinion, finance or lease in this situation?
 

·
Registered
Joined
·
5,684 Posts
Can you lease a GT. I think someone else tried this but the only one that you could lease was the V6.
 

·
Registered
Joined
·
173 Posts
Discussion Starter #3
I'll likely find out tomorrow. The guy I was working worth said that they had a decent rate on leasing the Mustang GT. I'll post up when I talk to them in person tomorrow.
 

·
Registered
Joined
·
2,863 Posts
even with no money down you should be very close to break even after 3 years, if not a little ahead.
 

·
Registered
Joined
·
175 Posts
I don't believe the FMCC offers a "Red Carpet Lease" on the GT's. Maybe your dealer has lender that is willing to offer a lease, but beware as they are not as forgiving at lease end.

There is always going to be something different, especially now with Ford. I believe that they are trying to give each model a facelift/exterior change every 3-4 model years.
 

·
Registered
Joined
·
173 Posts
Discussion Starter #6
Thanks guys. I really appreciate this input. I hope after 3 years and I finance with no more than a 1000 down that I'll wreak even. Anyone want to buy it in three years :)? Haha. I'm always the type of person that tries to plan my next step. However, sometimes that's not fun because I have to remember to just enjoy the moment and what I purchase. I have a feeling I'll love this thing. When I test drove it, it was AMAZING!
 

·
Registered
Joined
·
175 Posts
Thanks guys. I really appreciate this input. I hope after 3 years and I finance with no more than a 1000 down that I'll wreak even. Anyone want to buy it in three years :)? Haha. I'm always the type of person that tries to plan my next step. However, sometimes that's not fun because I have to remember to just enjoy the moment and what I purchase. I have a feeling I'll love this thing. When I test drove it, it was AMAZING!
That will all depend on your APR and length of the contract.

Doing quick math in my head, it appears that you will be financing somewhere near $33k after your $1k down, and have a payment of $600-$620/60mos using a moderate rate of 4.9%. If you can hold on to it for the full 3yrs then you should be fine. If you are stretching out the financing to 72mo and payning a higher rate near 6.9%, you may be a little negative after 36mos.

The best way not to be negative is to put down equal amount of the tax, rather then just the $1000.

Either way, enjoy the car and deal with it in 3yrs.
 

·
Registered
Joined
·
1,453 Posts
Can you lease a GT. I think someone else tried this but the only one that you could lease was the V6.
ha ha... that was me!

OP - I been having the same dilema for the past month debating if I should buy or lease with the new 2014 body coming out. What I found out (at least in NJ) is that they do not lease GT's. You can only lease a V6 Mustang. But in the end, I wouldn't buy. Simply because the 2-3 years that you own it, you'll ONLY be paying the depreciation curve. It's not worth buying unless you keep it long term. And you probably won't do that since the new body is coming out and you'll wanna trade up. And it'll be worth even less with a new Mustang prowling the streets.

Based on your member name, I'm assuming you have a 2002 GT. I would just have fun with that a couple more years, save your money, then put a larger down payment on the 2014. The wait will be worth it. You'll have a 50th anniversary piece of history.
 

·
Registered
Joined
·
173 Posts
Discussion Starter #9
Thanks guys'. I truly appreciate you throwing some numbers out there and providing your input. To be honest, I think it just wasn't meant to be. The first dealer screwed me and ended up NOT getting me the car I paid for (which was on another lot and said he could get it and had the Vin # on my signed documents, etc.). I called off the deal, and went to another dealer that had a car I wanted with the specs/price I need to make the payments work. I was able to talk them down to getting me into a Mustang GT base, 6-speed with brembo brakes for under invoice and they threw in some nice inventives as well. Then, I go back the next day to sign paperwork (the previous day I had to go to work and didn't have the time), and THAT SAME night within hours the car sold. So, I'm without a mustang GT with the specs I want and there aren't any within a 250 miles radius. WHat a bummer. The early bird get's the worm I guess. So, I'll wait for more cars to come in or just wait all the way until 2014 :(. Now I have to drive my truck around, lol. What a HUGE difference and a bummer to go from that test drive of the GT to driving around in my truck. The dealer said that the production of the computer chips in the car was affected by the tsunami, and there are huge delays of dealerships getting more 2012 mustang as well as a delay in build dates for owners who ordered them.
 

·
Registered
Joined
·
2,863 Posts
that sounds like some BS where the dealer already got their allotment and just didn't want to say it, or they don't plan to order more Mustangs for a while.
 

·
Registered
Joined
·
466 Posts
No I had the same issue getting mine. On the second try I handed the dealer a check from my credit union and said I'm gone if you #### this one up. They drove half way across pennsylvania from east nj to pick the car up that I wanted. The production of the 12 gt is way low. I guess its agood thing for those of us that already got one come 20 years from now...not that ill keep it that long ... I hear there is a change coming in a few years lol

Sent from my SCH-I500 using Tapatalk
 

·
Registered
Joined
·
175 Posts
that sounds like some BS where the dealer already got their allotment and just didn't want to say it, or they don't plan to order more Mustangs for a while.
I believe that there is some merit to the delay relating to parts.
 

·
Registered
Joined
·
5,684 Posts
I believe that there is some merit to the delay relating to parts.
Yea. Colors are changing slightly due to the situation in Japan. It's where the pigment for some metallic colors come from. Also some parts were made there. So it delayed the completion of some cars.


My car delivery was delayed a tad due to the recent storms and 300+ tornados.


Sent from my iPhone using Tapatalk
 

·
Registered
Joined
·
173 Posts
Discussion Starter #15
Yeah, the dealer irritated me to no end. It was ridiculous and obviously unprofessional. Let's hope that's not a "normal" car buying experience over there.
 

·
Registered
Joined
·
175 Posts
Yeah, the dealer irritated me to no end. It was ridiculous and obviously unprofessional. Let's hope that's not a "normal" car buying experience over there.
Out of curiosity, what was rediculous and unprofessional? Not trying to be argumentative, but it appears that you negotiated a deal (apparently very good one, under invoice) and left without signing any paperwork or placing a deposit on the car?
 

·
Registered
Joined
·
173 Posts
Discussion Starter #17
No problem at all, as I didn't think you were trying to be argumentative.

The problem was that I did sign on all the paperwork, and paid my down payment already. I technically owned a new car, and they said they would get from another local dealer. It's not a big deal in the end, as I got my down payment back, but it was a waste of time to do all that when in the end, I walked away with nothing :).
 
1 - 17 of 17 Posts
Top