What about 72 months and a 734 monthly note. On a gt 22?

  1. People: stop talking in terms of monthly payment and focus on the amount you are paying for the car, fees, taxes etc

  2. Great advice! Review your lending disclosure and numbers carefully. It was be confusing especially when you have a trade. Check msrp, taxes, trade in, know your loan payoff. Check the overall costs of financing and amount financed. I’m in the profession and the documentation can be very confusing. Don’t be afraid to ask questions.

  3. Id argue that loan terms are just as critical as purchase price, you can get a smoking deal on the car price and pay 11% interest and still get screwed.

  4. I'll concur on that. Was in sales for 5 years and we were some tricky ass people. You'll be amazed on what they can pack in the price of the over all amount while thinking you're getting a good deal through a monthly payment.

  5. This guy is 100 percent right as far as a good deal I sold vehicles for 4 years and that was definitely one of my tactics but of course that’s only if you got good credit because you can basically figure out what your payment will be but if not then intrest rates play a big factor sometimes if you pay a little more for a vehicle but the dealer can get you a lot better rate than you will be paying less on the long run so there is a lot of things to consider

  6. i work at Ford bro. Trust me... Get a used car on marketplace or something and just put money into it . Like me I got a 2004 Gt 40th anniversary edition and Im just slowly putting money into it instead of going and jumping in a money hole for a new stock gt

  7. How much money are you borrowing? What interest rate did you get? Have you tried from a credit union bank? I borrowed 35k got a 72 month loan with 550 as my monthly including gap.

  8. Indeed! Son just ordered a new '23 F 150 and we got locked in our credit union at 2.99% for 66 months. He's dropping about $12k on it as well.

  9. 72 months? No, It’s miserable a couple years down the line and you want trade it in and you can’t bc you’re so upside down; been there, done that.

  10. I rolled an upside down payment from a brand new corolla I bought less than a year earlier with nothing down into a new car purchase in 2020 when I got my GT. Took advantage of the dealers being desperate during the height of covid pandemonium to finesse a 0% interest deal with about 5k down. Probably saving money in the long run considering the savings on interest. I'm still gonna end up paying for both cars sure but at least it's just the cars I'm paying for and not interest. Financed amount came out to right around 50k. Trading in a brand new car is one of the worst financial decisions a person can make.

  11. When you making that 734 payment in month 60 it don’t seem like a great deal. By that time you have a used car with rattles dents and scratches

  12. In saudi arabia with tax+import fees + shipping cost it cost 80k$ for 22 GT :) car prices are soooo over priced here I get jealous when reading american prices... you guys are lucky when it comes to cars. Oh yea, the shelby GT500 here costs around 139K$...

  13. No. That’s an outrageous amount for that long a period. You also need to account for insurance costs, gas, maintenance etc. Keep looking. Edit-that’s over 52k NOT including all the taxes and other BS they’re going to add on.

  14. Too many factors, could be normal, could be too much. Just depends. For a 401A GT that's brand new, sure, that's an ok payment if you put a few K down.

  15. Go through a private lender. With your credit score you can score something better. This deal sucks. You’ll pay $53K over 6 years for a car that will be worth $30K by the time your loan is paid off. Unless you’re swimming in money and can afford the loss, this is a terrible idea. Honestly if you’re looking at a 72 month loan, you’re probably not swimming in money.

  16. You’re spending $52,848 for this car, and you’ll be upside down on it for the entire time you own the car. This is a bad idea. Get a

  17. You could die tomorrow , death sort of Makes finances irrelevant . That being said . 750$ is a shit ton for a car payment . I’m paying 916 a month on a fully loaded gt and with my insurance at 300$/month it’s pure suffering . Only thing that makes it worth it is I walked out The dealership with 2% financing , So my financing is only 4K for the term of The loan and the fact that my trade in was 8k, and they gave me 5k off the car . I got a pretty good deal, taxes in I was at 60k cad.. if you love the car , Go for it , but thread cautiously . Better deals Maybe had somewhere else .

  18. Please do not do that. I’m paying only About 50 more than that for a brand new ZL1 and 20k higher priced car. This dealer wants to give it to you bad on this car. Step away while you still can.

  19. Dude, car payments, no matter how little, suck. They take spending power away from you. And that car payment? That's a payment for (2) vehicles... not a single one.

  20. That’s insane. Payments that high for that long mean you’re not ready and you can’t afford the car. Save until your down payment gets you a 3-year deal below $500 per month, preferably between $300 and $400. Your insurance rates will likely go up as well. You’re going to have to start buying premium fuel. Maintenance and rubber will break your bank. Hard pass.

  21. At that point you might as well pay cash for the car. Thats not something thats really feasible for new cars now.

  22. $734 per month x 72 Months = $52,848. For that price you could buy a used Shelby GT350 or a really nice Bullitt, and are approaching base Mach 1 prices. Unless you like pissing away money this is a shit deal.

  23. You either can't afford it or refuse to put a real down payment.... What is the price of the car period. You make the down payment what u want your remaining payments to be per month....

  24. I personally do 48, but I couldn't imagine 72 months on something that I didn't have concrete intentions on owning for a long-time (ex. owning a Tacoma, 4Runner, or something similar for 10 years).

  25. With the figures you've provided, you'll have ended up paying over $52,848 for a 2022 Mustang GT? 🤣 Is that even mathematically possible? Bro just take that pony back and finance a Hellcat instead, or a house.

  26. True. OTD price and Financing terms. I hate when you go to a dealership and they ask you how much you wanna pay a month. I used to have fair credit which had me at a total disadvantage. Now I have excellent credit and the interest rates suck and there is a shortage on vehicles so I still have no leverage lol. Maybe one day. But don’t ever negotiate your monthly only negotiate the bottom line price first with the OTD price.

  27. Depends on what's in it. When it's all said & done you're gonna pay 53k for the car another 3k for Tag title tax. That's a lot for a car that's gonna be "The old body style" Mustang in less than 12 months.

  28. Do what makes you happy. At the end of the day people on the internet don’t know what you could afford. If you sit around and let people make decisions for you that makes you look like a little chump.

  29. Why would you sign up for another 6 year loan when you couldn’t even make it all the way through your first loan? What makes you think this time will be different? Sheesh man

  30. Do what you can afford comfortably. Rates are horrible for almost all cars with and without good credit. I have decent credit and had an A plan and still got 5.9% through Ford Credit on a 22 premium GT

  31. I would go with interest rate... anything above 4 percent seems silly...I understand credit s or, but I'd wait to fix credit score, first. This car is not worth over 700 a month..maybe in Europe

  32. I did some searching around out of curiosity, and this (sigh) unfortunately seems to be kind of the going rate these days. Just some quick examples I pulled, a $49k msrp car, with your down payment and the interest you listed in a comment lands right at those numbers. At that point, it's just are you comfortable with those payments for that car.

  33. So many things wrong with this deal, I don't know your income, but I always try and keep vehicles at 10 percent of my gross. I'm just under 6 figures a yr and that allows me around 10k a yr to cover my payment, insurance, and gas. Even if it's a fully loaded gt, that car is gonna depreciate so bad it's not gonna be funny. and in 3 yrs it's gonna be worth half that price especially once this car market crashes. If someone is dumping $55k and up on a mustang it better be a limited production model or there gonna eat that car so bad. If your gonna pay $734 a month, I hope you get into a gt350 or something like that. A regular gt will get lost in the crowd, and you will looking to trade it in.

  34. My brother in Christ, think in terms of total money paid. Unless you plan on paying off early, you will be paying the value of a BRAND NEW CAR in an insanely inflated market SIX YEARS from now. That is inconceivable to me, though if you plan on keeping it for a very long time and you positively need it now, it’s your money. (Not trying to scold, just trying to pass on lessons I’ve learned myself.)

  35. If you have decent credit get financing through a credit union, honestly the best way to buy a car. Or go with a 2018 or 2019 used GT and it'll cost you a lot less + financing though a credit union is the best bang of your buck.

  36. thats alot of $$$ but if you like it, and are trying to build credit and youve got long term stability go in there like the boss u are and sign with your own fountain pen

  37. As others have said asking how much you can afford per month is a trap. Figure out the loan amount you want before going to the dealer and show up with competing offers from banks. The dealer can usually beat those terms if they want to. Also don't wrap up any other add ons financing wants to upsell you on. You can buy an extended warranty later and you don't need window etching or nitrogen filled tires.

  38. Who cares. Do you love the car? Do you love it enough to pay 734 a month for 72 months? Is it worth it to you? If you answered yes, what anyone else thinks about it doesn't matter. Live your life the way you want to live it.

  39. Should be fine. You only live once, but definitely try to pay extra if you can to stay ahead of depreciation. For the past few years, hasn't really been an issues but I suspect with a new model coming up that on a six year note you will owe more then the car is worth 2 years into it.

  40. Bro go chill on your sim racing seat 💺 and leave the people who actually do something about to enjoy their sweet actual V8s

  41. Here me out there’s free maintenance for three years which was included it the price. The insurance just 40 dollars more and I’m only 20. I’m obviously gonna pay it off earlier than 6 years. I make 4k a month so I can a comfortably afford it.

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