ascMcLaren Enthusiasts

Rainmanoly · Joined: 27 Jun 2009 Posts: 124 Location: Kingwood

Ok, we have the Shelbies, the Roush cars, the Saleens, and the Steeda(s). If you want more than a Mustang GT and have a big enough wallet, you can go get any form of "Stang" you want.

So, can someone please explain to me how a Ford Mustang GT can cost $40,000???!!!!??? Evil or Very Mad

or
A Chevy SS Camero is $40,000.
or
A Dodge Challenger or Charger SRT is $43,000.

How the heck can people afford these cars? I make a very good living, but I can't afford $40,000 for a toy! These are suppose to be the poor man's sports cars! No wonder the Big three are in trouble!

I can get a Porsche, Mercedes, or BMW for that kind of money!

negusm · Posted: Fri Jul 10, 2009 10:28 pm Post subject:

Dunno. There are a TON of these cars on the roads around here. Seems like many people find the cash.

-Mike
_________________
1985 ascMcLaren Coupe - Midnight Blue
Under Restoration

Sandy · Posted: Fri Jul 10, 2009 10:45 pm Post subject:

From being in the car business for "only" 27 years - I can tell you how.

They LEASE it. They have jobs, make pretty good income, many are single, some living home with Mom/Dad and they pay their $400 or whatever a month.
I can also tell you, they are stupid, but then again, most buyers are stupid. The most stupid ones think they are really smart. They aren't!

They are simply "scratching an itch" ~

IF IF IF You can deduct lease payment from your income tax, BECAUSE you use your car in work AND CAN PROVE IT, then it's okay to lease.
If your job affords you an expense account and you use that to pay your lease, then THAT'S okay....

OTHERWISE, you are paying for something that you do not own, and will never own. You make all the payments (24 / 36 /48 months and the car is never yours. YOU GIVE IT BACK.

So, that is what they do. They cannot afford to plunk down $43,000 to purchase it but they can afford to lease it.

You are much better off to finance it. At least at the end of the finance term, the car is YOURS (BINGO) !! You can keep it or sell it & use the $$$$ from it's sale as a down payment on the new car, BUT BUT BUT be sure to take out the INSURANCE available with the contract, so that God Forbid, should you get sick, injured, or something else keeping you from earning $$$$ tht they do not come and take your car back, for lack of you making payments.

Some young kids get new cars from their parents as gifts. Alot of people make alot of money, these days. Lawyers, Doctors, Stock Brokers, Computer Industry Execs, CPAs, Dentists, etc, etc..... and buy their 19 year olds new cars.

Of the 3 you mentioned, I like the Challenger SRT-8 the best, the regular Mustang GT Convertible 2nd and a distant 3rd the Camaro.

But......Our Son, he make alot of money, for a 25 year old, and he holds on to it! He bought a new 2007 Mazda - 3 Gran Touring Edition, 2 years ago. He is a CPA and soon to be an attorney, too.
He would like to buy a XF for himself, when he passes the law boards.
He'll be only 27 & 1/2 then. His father (ME) would not spend that kinda $$$ for a car, but then again, he makes more than I do.
_________________
Sandy passed away in 2012. He will be forever missed.

1990 Final Car prior to the 12 Silver Anny Editions
1990 Silver Pearl Anny Edition
1986 Coupe Full Pkg #109 of 114.

http://public.fotki.com/ascmclaren/ascmclaren_capris/sandys_mclarens/

negusm · Posted: Fri Jul 10, 2009 11:04 pm Post subject:

I don't do financing or leasing.

I paid cash for my '96 Probe GT ($21k), my wife and I paid cash for the 2002 Toyota 4 Runner ($22.5k) and the 2003 Honda Oddyssey ($24.5k). If I need to, I will buy whatever I can afford at the time and start saving for the next car. I'll pay myself the interest instead of the bank.

It has helped having zero car payments.

-Mike
_________________
1985 ascMcLaren Coupe - Midnight Blue
Under Restoration

Rainmanoly · Joined: 27 Jun 2009 Posts: 124 Location: Kingwood

Rainmanoly · Joined: 27 Jun 2009 Posts: 124 Location: Kingwood

scoutdrivinrebel · Joined: 11 Nov 2004 Posts: 412 Location: Texas

noascyet · Joined: 15 Sep 2006 Posts: 53 Location: Millersville, MD

Guys -- don't dismiss a lease. It serves a purpose beyond business and expensing... I'm on my second one for my wifes car and it works out great if:
1. You don't drive a ton of miles per year
2. You like to get a new car every few years
3. You don't put any money down
If you think about it a finance is a zero down lease! I would urge you to do your homework though as because there are a few other variables where the dealers hide costs in the contract. But if you go with the advertised lease specials, they are usually very good deals and the fees are very transparent.
What I like about them is you get a new car every 3 years and it doesn't cost much more than buying/financing and running cars for years. I used to do that and most cars that I've owned and driven for 8-10 years (in today's dollars), cost me between $3,000-4,000 per year. The 2 leases I've had cost me about the same. I got my wife an '04 A4 for $272 per month and an '07 328 for $373 per month. And EVERYTHING is included and therefore there's minimal risk (basically tires and dings are the only thing that could cost me money)! I mean lets face it -- you're not going to beat the dealers -- it's their game! So when I lease, I know exactly what the purchase price is and the price it's worth at the end of the lease. So I know exactly how much i'm getting screwed and when I'm done I drop the keys off! So for me it works nicely. The car has any problem, needs a wash, oil change, wipers, brakes -- it goes to the dealer at no charge. I can't beat it.
Do the math before you rule out a lease! If you buy a car for $35k and drive it for 6-8 years what's that car costing you per year (including financing, maintenance, etc)? I'd bet it's in the same ballpark as a lease.
But it's not for everyone. If you don't want a payment (which believe me I don't like them either and don't have any other payments on anything except the BMW!), then it's not for you...
If you do it though -- please please do your homework and use the online calculators and information to make sure you're not paying additional fees... If you need help w/ it I could guide you through it...

Oh - -BTW I'd never lease a play car! Only one that is a daily driver!
_________________
1965 Mustang Hardtop - Sold 1990
1988 Mustang GT - Sold 1996
1996 Mustang GT Conv - Sold 2001

1985 Motorsport Capri · Posted: Sat Jul 11, 2009 11:04 am Post subject:

noascyet · Joined: 15 Sep 2006 Posts: 53 Location: Millersville, MD

many reasons why they stopped I'm sure, but primariliy for Chrysler is cause their residuals are horrible. Why would I lease a Chrylsler for $400/mth when I could lease an Audi/Lexus/BMW/Infinity...
It's a little more complicated calculation, but essetially when you lease you finance the delta between the purchase price and the residual over the term. High residual = lower payment = more risk for the car/lease company. Lower residual = higher payment = less risk for car/lease company but in Chryslers case you'll never sell the cars for that price. So they probably just stopped offering...
_________________
1965 Mustang Hardtop - Sold 1990
1988 Mustang GT - Sold 1996
1996 Mustang GT Conv - Sold 2001

negusm · Posted: Sat Jul 11, 2009 3:52 pm Post subject:

Rainmanoly · Joined: 27 Jun 2009 Posts: 124 Location: Kingwood

What started my rant.

I stopped at my local Ford Dealer yesterday. I haven't bought a new car since 1999. I am feeling a little bit of an itch. Anyway, the dealer ship has a 2010 Grabber Blue GT with red racing stripes, black leather seats with the red stripe. The car is sweet. I am ready to talk to a salesman when I see the sticker. $40,000.

I guess that I have become my father. Lol.
_________________
I wish blue jeans, old cars, and boots would go out of style.
- Chris R

1989 ascMcLaren convertible, 5-speed
(The only Hot Yellow car built in '89)

noascyet · Joined: 15 Sep 2006 Posts: 53 Location: Millersville, MD

$40k for a mustang! OMG that's just crazy!

I've been looking at '07 & '08 Jag XKR convert's w/ <5,000 miles for under $60k... Why would anyone pay $40k for a regular Mustang GT?
_________________
1965 Mustang Hardtop - Sold 1990
1988 Mustang GT - Sold 1996
1996 Mustang GT Conv - Sold 2001

rod442 · Joined: 06 Oct 2004 Posts: 35 Location: A2 Michigan

something to mention is that not everyone is paying those prices.

MSRP on a camaro SS is about 34k, just opened up GM employee price; and some dealers are honoring it. Others will do invoice pricing.

MSRP on a mustang GT is what? 28-29k.

MSRP on the srt8 challenger is probably closer to 40k, BUT they only sold about 1300 cars last month to the mustan'g 8k and the camaro's 9k.

On the dodge, I expect there are big discounts to be had if one searched hard enough.

(I know I only quoted base price, but they come pretty well optioned from the factory). If you have to have HID's, sunroof, RS pkg, leather etc etc on a 2ss camaro they will be pricey. the base car, not so much.

remember this car (camaro) was 25-26k in 2002, my firebird was 28k in 2000; so 33K isn't that far off almost 10 years later.

If you want a deal, get a G8 GT, which with rebated and employee price is about 27-28k. not a bad buy. some people are getting 5K GM card money applied to them and getting them out the door for about 24K. A steal. ( I wish I could do that).
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rod442
2005 Saab 92x SAABARU
2003 Yamaha R1 RRATED
2000 Formula m6 INCONTT
1988 Mustang LX 5LTRLX

negusm · Posted: Sun Jul 12, 2009 2:42 am Post subject:

For Toy/Sports cars, I would get a 2 year old car that somebody has found out is impractical. Let them take the nasty first and second year depreciation hit.

And like was mentioned, don't go by the MSRP sticker. This is what they "hope" they can get. In this economy, they will sell anyone anything at or near factory invoice.

-Mike
_________________
1985 ascMcLaren Coupe - Midnight Blue
Under Restoration