2002 Mustang GT or 2003 Mustang V6?

KrazyMofo24

My car broke down last week, so I decided its time to buy me a nice one.

I don't know much about cars, but I narrowed it down to two cars that I like that are in my budget.

2003 Ford Mustang $11,500 talked them down $300 big whoop.

http://www.cars.com/go/search/detail.jsp?tracktype=usedcc&searchType=21&paId=210159086&pageNumber=6&numResultsPerPage=50&largeNumResultsPerPage=0&sortorder=descending&sortfield=PRICE+descending&certifiedOnly=false&recnum=341&leadExists=true&criteria=K-%7CE-%7CM-_14_%7CD-_179_%7CN-N%7CR-30%7CI-1%7CP-PRICE+descending%7CQ-descending%7CZ-75006&aff=national

2002 Ford Mustang GT $13,995
http://www.cars.com/go/search/detail.jsp?tracktype=usedcc&searchType=21&paId=206640080&pageNumber=5&numResultsPerPage=50&largeNumResultsPerPage=0&sortorder=descending&sortfield=PRICE+descending&certifiedOnly=false&recnum=280&leadExists=true&criteria=K-%7CE-%7CM-_14_%7CD-_179_%7CN-N%7CR-30%7CI-1%7CP-PRICE+descending%7CQ-descending%7CZ-75006&aff=national

I know this isn't a car forum, but you guys usually give good advice not just on audio. The GT is a bit out of my budget...unless I can get the price down. Are GT's worth the extra money? I do like the leather seats.

audiobliss

IMO, yes it's worth it go get the GT. I just hate the idea of a Mustang with a V6...and I'm not even a Ford guy!

As for the prices, I have no idea if they're good or not, as I have no idea what they should be bringing. But I would definitely lay out more money for the GT with the V8 and various other amenities.

Demiurge

I think you're young, right? Insurance will be a **** on the GT.

ND13

The '03 V6 isn't worth that. My parents bought a brand new 04 V6 Stang for $12995. Do the math.

Get the GT and don't think twice about it.

RuSsMaN

Grand Touring.

Shizelbs

GT. No question.

aaharvel

That GT is about $2k too expensive. The average markup for a used car under $20grand is $3,500. That's how most dealers make their money, not from new car prices, but used car prices. The mileage is very good for a 5 year old car, however. So that might be the dealer's justification. That being said, you need to get a figure that's between Blackbook and Kelly. I still think $14,000 is asking too much.

howie777

Just make sure you get an insurance quote before you go the GT route. I've heard people say they loved there GT but had to sell as insurance is way too high.

Howie

Demiurge

howie777 wrote:

Just make sure you get an insurance quote before you go the GT route. I've heard people say they loved there GT but had to sell as insurance is way too high.

Howie

Bingo.

KrazyMofo24

Well I'm 21...I got a quote for Geico...$180/month for 03 and $205/month for GT. 14k is out of my budget...I'll have to see if they can drop it down atleast a grand.

disneyjoe7

Yes check first insurance could kill the deal.

faster100

we had a 95 mustang lx from brand new.. and after almost 5 years the car overheated and cracked the heads.. The 3.8's are known for blown head gaskets.. the motor is a dog also.. however, the ride was nice and we liked it.. wasn't no race car, but had the best paint ive ever had on a new car.. clear coat blue aqua type color..

I was just shopping for a car to replace my **** box neon.. looked at a few Mustang GT's and the prices are just to damm high IMO.. for used cars, and the state of gas prices even at 2.20 a gallon..

I would get them down on the GT, most if not all have leather interiors and some nice options, go to www.kbb.com and get an idea on what they run and then tell them at the dealer, also tell them you found a similiar one for cheaper at another dealer and see what they say.. if not, then walk.. you will find a good deal if your patient.. and don't act excited about it and don't test drive it right away.. That's how they get you to want the car more and lose rationality of the price and deal.. just a few hints from someone who's owned a few new cars and many many used..

Good luck!!

ND13

aaharvel wrote:

That GT is about $2k too expensive. The average markup for a used car under $20grand is $3,500. That's how most dealers make their money, not from new car prices, but used car prices. The mileage is very good for a 5 year old car, however. So that might be the dealer's justification. That being said, you need to get a figure that's between Blackbook and Kelly. I still think $14,000 is asking too much.

Sorry to burst your bubble, just broke out the blackbook and "average" Blackbook for the 2002GT with the leather add and low mileage add is $12375 and this car would probably bring closer to clean book which is $13900, xtra clean is $14500 and these are wholesale numbers. So unless this car has been severely damaged in it's history, it's a good buy, period. But, I'd still say the dealer has a litttle room left, but not too much. All my internet list prices are only marked up around a grand or so, it's the only way to get attention on cars.com or autotrader.com. I list them quite a bit higher on the lot. Good, clean cars are bringing blood at the local auctions in my area, several times going out of the book. If $13k is in your budget, then offer him $12500 and let him bump you to $13k, so he feels like he did something.

And don't worry too much about fuel economy, my 160k mile '94 GT/5sp gets over 27 mpg hwy and about 24 combined.

dagame27

Definitely the GT. As long as you can afford the insurance (and the gas!) There is not replacement for displacement!

sucks2beme

+1 for the GT. It's a better car all around. The V8 will come at a premium.
Mustangs(and enything else with a v8) seem to cost way too much in Dallas.
Son #2 got the v6 Mustang. No gas savings over the v8 at all. Son #1 has the Trans Am. That is the car I want for my second childhood. Fall 2008!

faster100

Noel,

so what's the going rate for a 98 - 2001 stang GT? Hook me up with what you would pay, im on the lookout and know how to haggle.. however the used places around here act like they wont budge a bit .. well see

KrazyMofo24

I really do want to get the GT, I haven't looked at it in person yet...the carfax report is clean. The price is actually the lowest in my area. Hopefully theirs nothing wrong with it...if I can get it down to 13k, or 12,500 then I'm most likely going to get it. The insurance is going to be expensive either way...an extra $20/month I can probably manage. Thanks for the responses definantly helping me make the best decision.

ND13

faster100 wrote:

Noel,

so what's the going rate for a 98 - 2001 stang GT? Hook me up with what you would pay, im on the lookout and know how to haggle.. however the used places around here act like they wont budge a bit .. well see

My black book only goes back to 2000.


2000 GT avg=$8100 clean=9600 xcln=10100
2001 GT avg=$9800 clean=11400 xcln=12000

notice any trend...about $1700-1900 per year.

remember these are wholesale prices or what dealers pay at the auctions or trade for them for.

Demiurge

KrazyMofo24 wrote:

I really do want to get the GT, I haven't looked at it in person yet...the carfax report is clean. The price is actually the lowest in my area. Hopefully theirs nothing wrong with it...if I can get it down to 13k, or 12,500 then I'm most likely going to get it. The insurance is going to be expensive either way...an extra $20/month I can probably manage. Thanks for the responses definantly helping me make the best decision.

I don't see how the difference could possibly be only $20 between a GT and a stock non performance 6 banger at your age.

Are you paying for the car with cash? Any kind of car loan and you have to get collision insurance (I would assume this is true in every state or the lending institution is out of it's mind).

Good luck, don't mean to beat the point home, but I learned my lesson the hard way after I owned the car.

KrazyMofo24

I got the quote from Geico online...the reason its a cheaper...is that I put 1000 deductible on both the collision and comphrensive.

aaharvel

Sorry Noel, I was basing it on average, not extra clean- simply for the interest of the buyer (if I was still in the business, I'd go from your perspective definitely.) and also because a 5year Mustang GT, given the buyer demographic isn't exactly babied if you know what I mean. I was going by average.. But you're right, I didn't see that it had leather. If I would've know that, i wouldn't have low-balled a $12.

sucks2beme

Demiurge wrote:

I don't see how the difference could possibly be only $20 between a GT and a stock non performance 6 banger at your age.

Are you paying for the car with cash? Any kind of car loan and you have to get collision insurance (I would assume this is true in every state or the lending institution is out of it's mind).

Good luck, don't mean to beat the point home, but I learned my lesson the hard way after I owned the car.

My son found the premium for his Trans Am cheaper than a Toyota!

KrazyMofo24

I found a 2003 Mustang Convertitble 60,000 miles, black leather seats, v6 only $9,000 it's from a bank car lot that has repossesed vehicles or cars that were leased. Retail value is 13,000 and Private is 11,000 KBB. I didn't get a chance to look at it today...but will tomorrow. They list everything about the car, and state the condition most things were Good. List of "Suggested Repair": Rear brake linings, Rotors/Drums, Alignment, Tires, Power Steering Rack, Oil Change, State Inspection, Fluid Levels, Wiper Blades, Exaust Manifold right, Driver door trim, radio, and lock cylinder.

Theirs also a "replace immediately" nothing was checked on that, majority of the list seems pretty cheap to change, I hope the cd player works, I have no idea if the Exaust Manifold is expensiver, important.

Anyone think that anything on the list is to costly to consider? Any advice would be appreciated. I love the price, and the leather.

sucks2beme

Are you good at mechanical work? Paying someone else to do that work could
cost a bundle. A visit to a good auto tech sounds like it is in order.
Ask if you can run it out to someone to look it over. They may be just listing
all that could be wrong, or that thing needs a couple of grand of repair.

Maybe a new Hyundai is in order? A new Sonata will have a much lower interest rate than a used car, get better gas milage, and be reliable.
Sex appeal? NO. Better than walking? Anyday!

nadams

gee tee!

V6 in a mustang is just a damn shame. They never should've offered them.

Lowell_M

GT no question...or you could find something fast to buy. Maybe an F-body with and LT1. Nothing funnier than a V6 Mustang.

KrazyMofo24

I would rather have a GT ofcourse...but 14,000 for a GT, 9,000 for this one. Whenever I get older, establish credit, and have a good paying job, then I can go that NICE car. The retail value is listed at 13,000 the price is much lower is because of it being repo, theirs about 10 cars in this lot, they sell as is no warranty, they have a 2003 F-150 59k miles for under 10k. They recommend repair, but still up in the air on how damaged any of these items are. The ones that concern me is the Power steering rack, and the lock cylinder. The brakes/roter I've replaced those before not too expensive. CD player replacement will also be an upgrade. Everything else seems to be stuff you need to replace with every car. I'll get my dad to look at it...the price just makes it hard to justify $5,000 for a V8.

Lowell_M

KrazyMofo24 wrote:

I would rather have a GT ofcourse...but 14,000 for a GT, 9,000 for this one. Whenever I get older, establish credit, and have a good paying job, then I can go that NICE car. The retail value is listed at 13,000 the price is much lower is because of it being repo, theirs about 10 cars in this lot, they sell as is no warranty, they have a 2003 F-150 59k miles for under 10k. They recommend repair, but still up in the air on how damaged any of these items are. The ones that concern me is the Power steering rack, and the lock cylinder. The brakes/roter I've replaced those before not too expensive. CD player replacement will also be an upgrade. Everything else seems to be stuff you need to replace with every car. I'll get my dad to look at it...the price just makes it hard to justify $5,000 for a V8.

I'd stay away from that car lot. I wouldn't mess with anybody selling repo's. You will find the right deal eventually. Don't force a car purchase. There are a lot of cars out there for all kinds of budgets. Wait and find the right car.

KrazyMofo24

Well its not a random dealer...its from a Local bank, that my girlfriend's parents have their account at. The fact that they give you everything you need to know about the car, is more than any dealership would give you. Checked the price for an exaulst manifold and it's around $30 bucks. My dad and my gf's dad both like to work on cars, so if the parts are cheap, and nothing major it shouldn't be a problem. So now my only concern is the Lock cylinder, and the power steering rack. $150 for Power Steering If I had to replace it. The Lock Cylinder I have no idea why that would be messed up not sure if it's from the trunk, door, ignition. But it is under "Recommend repair" and not "Repair Immediatly" So could be nothing major.

AustinKP

As a 2000 Mustang V6 owner with a brother that has a 2k3 GT, I'd say the GT is DEFINITELY worth it! I'd love to get a GT if I could afford it (and if I hadn't already spend *countless* hours getting my car stereo the way I wanted it). I'm 25, and the insurance diff between a V6 and a GT through Allstate is only $4/mo.

Joey_V

No one buys a Mustang only to have it be a V6.

That's like getting some LSi9 and powering it with a Sherwood receiver.