2002 Mustang GT or 2003 Mustang V6?

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KrazyMofo24
KrazyMofo24 Posts: 1,195
edited April 2 in Clubhouse Archives
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.
Setup:

2 Channel: Vienna Acoustics Mozart Grand, T+A P 1230R, Primare SPA21, Oppo BDP-105
PC: Vienna Acoustics Haydn Grand, Cambridge Azure 650A v2 , Peachtree iDAC, Denon DVD-3800BDCI

Post edited by RyanC_Masimo on
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  • audiobliss
    audiobliss Posts: 12,518
    edited October 2006
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    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.
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  • Demiurge
    Demiurge Posts: 10,874
    edited October 2006
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    I think you're young, right? Insurance will be a **** on the GT.
  • ND13
    ND13 Posts: 7,601
    edited October 2006
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    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.
    "SOME PEOPLE CALL ME MAURICE,
    CAUSE I SPEAK OF THE POMPITIOUS OF LOVE"
  • RuSsMaN
    RuSsMaN Posts: 17,987
    edited October 2006
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    Grand Touring.
    Check your lips at the door woman. Shake your hips like battleships. Yeah, all the white girls trip when I sing at Sunday service.
  • Shizelbs
    Shizelbs Posts: 7,433
    edited October 2006
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    GT. No question.
  • aaharvel
    aaharvel Posts: 4,490
    edited October 2006
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    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.
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  • howie777
    howie777 Posts: 357
    edited October 2006
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    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
    Demiurge Posts: 10,874
    edited October 2006
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    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
    KrazyMofo24 Posts: 1,195
    edited October 2006
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    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.
    Setup:

    2 Channel: Vienna Acoustics Mozart Grand, T+A P 1230R, Primare SPA21, Oppo BDP-105
    PC: Vienna Acoustics Haydn Grand, Cambridge Azure 650A v2 , Peachtree iDAC, Denon DVD-3800BDCI

  • disneyjoe7
    disneyjoe7 Posts: 11,435
    edited October 2006
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    Yes check first insurance could kill the deal.

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  • faster100
    faster100 Posts: 6,124
    edited October 2006
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    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!!
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    Sherwood sd871 dvd
    Rotel 1075 amp x5
    LSI15 mains
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    SVS pb12/plus2


    2 Channel Rig:

    nad 1020 Pre-amp
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  • ND13
    ND13 Posts: 7,601
    edited October 2006
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    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.
    "SOME PEOPLE CALL ME MAURICE,
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  • dagame27
    dagame27 Posts: 561
    edited October 2006
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    Definitely the GT. As long as you can afford the insurance (and the gas!) There is not replacement for displacement!
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  • sucks2beme
    sucks2beme Posts: 5,590
    edited October 2006
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    +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!
    "The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson
  • faster100
    faster100 Posts: 6,124
    edited October 2006
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    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 HT RIG:
    Sherwood p-965
    Sherwood sd871 dvd
    Rotel 1075 amp x5
    LSI15 mains
    LsiC center
    LSIfx surround backs
    Lsi7 side surrounds
    SVS pb12/plus2


    2 Channel Rig:

    nad 1020 Pre-amp
    Rotel 1080 stereo amp
    Polk sda 2B
    kenwood grunt Tuner
    realistic lab 450 TT
    Signal cable IC
  • KrazyMofo24
    KrazyMofo24 Posts: 1,195
    edited October 2006
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    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.
    Setup:

    2 Channel: Vienna Acoustics Mozart Grand, T+A P 1230R, Primare SPA21, Oppo BDP-105
    PC: Vienna Acoustics Haydn Grand, Cambridge Azure 650A v2 , Peachtree iDAC, Denon DVD-3800BDCI

  • ND13
    ND13 Posts: 7,601
    edited October 2006
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    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.
    "SOME PEOPLE CALL ME MAURICE,
    CAUSE I SPEAK OF THE POMPITIOUS OF LOVE"
  • Demiurge
    Demiurge Posts: 10,874
    edited October 2006
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    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
    KrazyMofo24 Posts: 1,195
    edited October 2006
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    I got the quote from Geico online...the reason its a cheaper...is that I put 1000 deductible on both the collision and comphrensive.
    Setup:

    2 Channel: Vienna Acoustics Mozart Grand, T+A P 1230R, Primare SPA21, Oppo BDP-105
    PC: Vienna Acoustics Haydn Grand, Cambridge Azure 650A v2 , Peachtree iDAC, Denon DVD-3800BDCI

  • aaharvel
    aaharvel Posts: 4,490
    edited October 2006
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    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.
    H/K Signature 2.1+235
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    "People working at Polk Audio must sit around the office and just laugh their balls off reading many of these comments." -Lush
  • sucks2beme
    sucks2beme Posts: 5,590
    edited October 2006
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    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!
    "The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson
  • KrazyMofo24
    KrazyMofo24 Posts: 1,195
    edited October 2006
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    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.
    Setup:

    2 Channel: Vienna Acoustics Mozart Grand, T+A P 1230R, Primare SPA21, Oppo BDP-105
    PC: Vienna Acoustics Haydn Grand, Cambridge Azure 650A v2 , Peachtree iDAC, Denon DVD-3800BDCI

  • sucks2beme
    sucks2beme Posts: 5,590
    edited October 2006
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    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!
    "The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson
  • nadams
    nadams Posts: 5,877
    edited October 2006
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    gee tee!

    V6 in a mustang is just a damn shame. They never should've offered them.
    Ludicrous gibs!
  • Lowell_M
    Lowell_M Posts: 1,660
    edited October 2006
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    GT no question...or you could find something fast to buy. Maybe an F-body with and LT1. Nothing funnier than a V6 Mustang.
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  • KrazyMofo24
    KrazyMofo24 Posts: 1,195
    edited October 2006
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    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.
    Setup:

    2 Channel: Vienna Acoustics Mozart Grand, T+A P 1230R, Primare SPA21, Oppo BDP-105
    PC: Vienna Acoustics Haydn Grand, Cambridge Azure 650A v2 , Peachtree iDAC, Denon DVD-3800BDCI

  • Lowell_M
    Lowell_M Posts: 1,660
    edited October 2006
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    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.
    HT
    RTi70 mains
    CSi30 center
    RTi28 Rears
    Velodyne CHT-12
    H/K AVR-247
    ADCOM GFA-7000
    Samsung PN58B860
    Playstation 3

    2-Channel
    Polk Audio LSi15's
    Rotel RCD-1072
    Nakamichi CA-5 Pre
    ADCOM GFA-555
    Signal Cable Analog II IC's
    Signal Ultra Bi-Wire Speaker Cables
  • KrazyMofo24
    KrazyMofo24 Posts: 1,195
    edited October 2006
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    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.
    Setup:

    2 Channel: Vienna Acoustics Mozart Grand, T+A P 1230R, Primare SPA21, Oppo BDP-105
    PC: Vienna Acoustics Haydn Grand, Cambridge Azure 650A v2 , Peachtree iDAC, Denon DVD-3800BDCI

  • AustinKP
    AustinKP Posts: 861
    edited October 2006
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    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.
    http://www.silverdragon.com/punkie/cybertusk/net.idiot.html - Read it, know it

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  • Joey_V
    Joey_V Posts: 8,534
    edited October 2006
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    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.
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