2011 Mustang 5.0 - Daily driver

Discussion in 'Motorized Vehicles' started by CanadianDude, Jul 9, 2010.

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  1. Shane@DARK.

    Shane@DARK. Company Representative

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    Exactly. I have a 2000 Mustang V6 and with snow tires it holds up just fine in Rhode Island winter - and I live in a pretty rural area where the streets aren't always clean and sanded. I never once got stuck and only had the rear wheels fishtail 2 or 3 times - and I was easily able to get it back under control. It's all in how you drive.
     
  2. AmazingGracePlayer

    AmazingGracePlayer Notebook Deity

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    The previous and also first owner of this Cadillac also lived in Rhode Island. I lived i Rhode Island about 8 years ago too :D
     
  3. Muscle Master

    Muscle Master Notebook Consultant

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    Personally I would do i with your bank for flexibility.. they would work with you to see how much you wanna pay

    otherwise.. I would put down 7-10 gees max
     
  4. Thaenatos

    Thaenatos Zero Cool

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    Granted I have all terrain tires but I too drive 2wd in the jeep during the winter. 4wd is for the powerslides and times we get 2ft+ of snow.
     
  5. E30kid

    E30kid Notebook Deity

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    I guess that he prefers to write that instead of boxer?

    I drive an E39 540i 6-speed. This will be my first winter as a driver.
     
  6. linuxwanabe

    linuxwanabe Notebook Evangelist

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    It all comes down to whatever really works best for you. As a rule of thumb, to get you best deal, I wouldn't mention my down payment when I went in to the dealership. Negotiate you best price on the car, then your best rate on financing, and then you can bring up the down payment.

    I know you like the idea of 0% 36 month financing, but I'd also investigate financing rates at local credit unions. Most people finance cars for far too long these days, but if you're keeping the car a long time and driving low annual mileages, the length of financing isn't a big deal, except in terms of interest.

    Actually, you mentioned "$1000 monthly." That actually wouldn't be too far off on a stripped Mustang GT 5.0 for 36 months at 0% with nothing down expect for taxes - and Canadian taxes are scary. If I had to pay 15% sales tax on a car, I think I'd die of shock. It kind of makes me sick that I have to pay just half that.

    I'd research Gap Insurance before going to the dealer. For all I know, it might be different in Canada, since auto insurance is regulated on a provincial basis.

    Actually, talking about insurance, I know that in some provinces the rates are astronomical, while other provinces have public auto insurance and have very low rates. I would call my insurance company before I went car shopping. In the USA, some companies won't even insure certain higher risk cars.
     
  7. MidnightSun

    MidnightSun Emodicon

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    Dealers these days are far more willing to give you a great deal (very low price + a few freebie options included) if you can pay a 100% downpayment. My dad's always paid for his cars in full for this reason, and always manages to get prices that his friends gape at. :rolleyes:
     
  8. linuxwanabe

    linuxwanabe Notebook Evangelist

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    Not true. Dealers make money from financing - and the financing is often more profitable than the sale itself. Often, the dealer will offer a better deal on the outright price of the car if there is money to be made with the financing. Why not sell a car at cost if you can put an extra 3% on the financing?

    When you go into a dealership, you might not get your best deal if you say upfront you're paying cash. You might want to hold your tongue and let the dealer think he'll might make some money on financing.

    I also should note that dealers have low markups on most vehicles. Unless the manufacturer has some sort of "marketing support" or "dealer cash," the invoice, minus holdback, is really what the car costs the dealer.
     
  9. Thaenatos

    Thaenatos Zero Cool

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    Incorrect. Banks and financial institutions profit from financing not the dealers. The dealer itself gets the money they sold the car at and not a penny more. Granted if the financial institution is owned by the manufacturer then they get the profit from financing, but the dealer itself is still left out in the cold.
     
  10. linuxwanabe

    linuxwanabe Notebook Evangelist

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    Nope. Dealers make a lot of money off financing, often far more more than on the car itself.




    Not true. Dealers can tack an extra 3% on to your auto loan - and they get the proceeds.
     
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