Wanting to buy a new Mustang, want to hear others opinions.

[noslwb]

Well, noslwb, this is the 61st post where you've gotten tons of a variety of advice, opinions, and help, in so many forms, shapes, and ways by well meaning folks here.

Are you close to a decision as to what route you need to take for yourself as you chart your future? I'm sure I'm not the only one interested in your plans and leanings at this point. We want you to get what you want and have successful outcomes in your life.

What are you thinking the best plan and route might be for your future at this time?

FD

Yeah, this post gained a lot of traction that I wasn't expecting, it helped a lot in my thinking though.

Honestly i’m still deciding, theres a lot to account for and plan out, lots of things to think about. At first before this, maybe a couple years ago when the Dark Horse came out, thats what I wanted, but I thought it through, and it was a lot of money, more than I could afford at the time, so it was more of a dream than anything.

I changed my mind towards a WRX, especially living in Oregon and it being a bit cheaper. But I couldn't get over Stang and then I changed my mind couple of times over and over.

But now that I’ve gotten myself a secured union job, getting paid $26.50 the hour is more than enough for me and my current living situation, they send me to cdl school with everything paid for and then raise me up to $30, which is a dream for most at this age.

I don’t have my shit figured out, and i’m stubborn, i have a lot of things ive wanted but im not very happy, unfortunately being a dumb teen, i’ve gotten myself into a lot of credit card debt, about $15k worth. Thankfully, after getting my new job, I just today cleared 2 of my cards. Now i’ve got 10 grand left to clear. Im working hard and as much as i physically and mentally can to clear that debt and start my goal of saving/investing.

Im thinking of starting school again, going to do the financial route but for myself, learn what i can and use it to my advantage towards the stock market, investing, and so i can start day trading when I’ve gotten it all down after a couple years of practicing on a simulator, or even in an internship if its something i decide to do.

It may be stubborn to most and not something everyone wants to do, but if you’re part of the 5 percent of people that can make profit, then you can be at home, do your couple of minutes and/or hours of day trading and be able to spend the rest of that day with your family, or doing something fun without going out to work slaving away and wasting your time.

I used to invest but I need all i can as of now to put towards my debt, and fixing my vehicle.

I think the best route for me now is to think clearly, and navigate thing's as I go. I still want to get the Stang with those options, but by the time I save enough money to pay cash for the vehicle,, a new one may have come out with different things, so I’ll just see whats popping and coming in that time, negotiating with different dealers to see what im able to get and if its something im still able to do.

The supercharger i’ll wait on, or just save enough to buy that too, I’ll just see what everything is like in the coming year or two.

But before all that, I’m gonna pay off my debt first, at most 3/4 more months left to go, after that i’m gonna put a portion of my money towards investing, saving the other halves for the car and an emergency fund that ill leave in a high yield savings account to accumulate money and is easy for me to pull out just incase shit goes south.

Gonna work on day trading, and go to school too perhaps. Still thinking hard about that one. Other than that, nothing else as of now, things are getting rough so I think getting a mortgage soon for a house is something that I’ll need to do unfortunately. If there are other routes and opinions and thoughts, I’ll appreciate it a bunch. Sorry for the lengthy response!

Sponsored

 

[LouG]

Thanks to the Govt doing away with proper apprenticeships, and every poor bloody secondary school kid being told they need a degree, there's a shortge of tradies here in NZ. So demand has sent their wages through the roof. Around $100 an hour for a fully qualified mechanic or sparkie, and more if they're a specialist.
Which is more than my wife gets as a Financial manager for the City Council.

 

[noslwb]

Thanks to the Govt doing away with proper apprenticeships, and every poor bloody secondary school kid being told they need a degree, there's a shortge of tradies here in NZ. So demand has sent their wages through the roof. Around $100 an hour for a fully qualified mechanic or sparkie, and more if they're a specialist.
Which is more than my wife gets as a Financial manager for the City Council.

Yeah i never really cared for a degree, i’d only go for the knowledge that i can gain from there, like economics and all that good stuff, and if anything ill just do trail and error, and learn how to day trade on my own.

 

[Frogdog1]

Yeah i never really cared for a degree, i’d only go for the knowledge that i can gain from there, like economics and all that good stuff, and if anything ill just do trail and error, and learn how to day trade on my own.

Best thing you've said is to get out of debt. Credit card debt interest is obscene. I would encourage you to stay out of debt no matter what it takes. If you get a mortage, at least you're building equity and can deduct the interest from you taxes. Do double payments and pay it off early, then back to the no debt situation which is a great feeling, trust me. Also, unions nor anyone else can guarantee you a job. Merit is what gets you ahead in this world. Just sayin'

Ask around to a lot of people about day trading and see how many you can find that are making significant money at it before you throw you time and effort into it. My wife is good at it but for the time it requires, she quit doing it with my blessing. If you're in your teens, being uncertain is normal. Decide on something, then be hard headed about getting whatever you want. FWIW.

 

[noslwb]

Best thing you've said is to get out of debt. Credit card debt interest is obscene. I would encourage you to stay out of debt no matter what it takes. If you get a mortage, at least you're building equity and can deduct the interest from you taxes. Do double payments and pay it off early, then back to the no debt situation which is a great feeling, trust me. Also, unions nor anyone else can guarantee you a job. Merit is what gets you ahead in this world. Just sayin'

Ask around to a lot of people about day trading and see how many you can find that are making significant money at it before you throw you time and effort into it. My wife is good at it but for the time it requires, she quit doing it with my blessing. If you're in your teens, being uncertain is normal. Decide on something, then be hard headed about getting whatever you want. FWIW.

Yessir debt is the one thing I don't want to be in anymore, interest sucks and im doing my best to get out of it. I’ll try my best to do that with the mortgage, i’d rather go that route than renting. Appreciate you saying that.

I’ll try to look around, not a lot of people around me are interested in that but i’ve met several online. I’m really hard headed haha, but thank you for your help

 

[Neggytive]

Do you mind me asking why you dont want to anymore? what made you change your mind? I get its nice enough as it is but just curious to know what makes you feel that way, thanks!

Bang for the buck, or smiles per mile

Say you can get the FP kit installed with a $9200 cost for the kit, $3000 in labor, toss in some catch cans for $500 give or take.

That puts you at the point where Ford thinks the engine, transmission, and axles are not going to fail putting them on the hook for the limited warranty they provide for their kit.

If you are going to upgrade the oiling system toss in some more money.

You are going to end up with something like 300 + additional rear wheel HP

Now what are you going to do with it?

Thrash it at the track?

Better start banking some $$$ for repairs as it is only a matter of time before the parts designed for 500 HP start failing at 800.

Catalytic converters are failing with stage 2 kits, they can not handle the heat or the flow, so it is safe to assume the stock cats are running at the ragged edge of reliability at Stage 1.

This brings us back to the warranty, it is not unlimited, Ford Performance has a very low dollar limit as to how much they will cover.

There is only so much straight traffic free road where you can enjoy that extra power

I thought about it, and didn't think that for me, it was a good use of the money, I was worried about reliability, having to service the supercharger, how long the rotors would keep sealing up and making boost. etc etc etc.

Now for those of you that have done it, all the more (horse) power and torque to you.

If you wanted to make the car a little more spirited for street driving, ordering an automatic transmission car with 3.55 gears is IMHO a good bang for the buck, or a set of 3.73 gears would really wake the car up with the advantage of the OD gears in the transmission keeping the car from screaming at highway speeds

4.10's might be a tad too much but I have not done the RPM calculations on those at say 70 MPH

And if you spent $1000 on swapping out the gears and getting the computer flashed so the speedo reads right, if you ever wanted to sell the car you are only out that amount of money.

Selling a heavily modified car takes finding the right buyer who is willing to pay a premium price so you can recover some of your outlay.

It is one thing if it is a factory install, it is another when it is an after market modification, even if you go Ford Performance. Trading the car in is a guaranteed major hit to the wallet.

I have yet to find myself saying I wish it would go faster, if anything I am amazed at how fast it will accelerate from 60 to 85 without being harsh or obnoxious. It just goes, no questions asked.

 

[Frogdog1]

@noslwb, you have about all the advice needed that you asked for in getting what you want and having a decent career.

@Neggytive, sums it up exactly as I do. My stock 10 speed is pretty quick IMHO. He asks a very good question in that if a blown car isn't tracked, where are you going to use that much horsepower? "On public roads" will never be a good answer.

It's time to stop dreaming, get to work, and earn what you want. Key word: Earn.

Over and out.

 

[noslwb]

@noslwb, you have about all the advice needed that you asked for in getting what you want and having a decent career.

@Neggytive, sums it up exactly as I do. My stock 10 speed is pretty quick IMHO. He asks a very good question in that if a blown car isn't tracked, where are you going to use that much horsepower? "On public roads" will never be a good answer.

It's time to stop dreaming, get to work, and earn what you want. Key word: Earn.

Over and out.

Yessir! I have everything I need and I am going to sit down tonight and ask myself many questions and make a plan for myself. Thank you everyone for the wonderful opinions, and thoughts. I’ll make sure to use them well, and I may even end up in a trade. Many thanks everyone, i have lots to think about and a lot to do to get my shit together.

Sponsored