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SVTPerformance's Chain of Restaurants
Road Side Pub
I thought the mustang was what I wanted
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<blockquote data-quote="RedVenom48" data-source="post: 16119135" data-attributes="member: 166576"><p>Unless you can get out of the Mustang without a loss it will be.. a loss.</p><p></p><p>I totally get where youre coming from if its regret from the purchase due to payment. I felt that way instantly after riding off a Haley dealer lot with my new 2007 Fatboy. It didnt help that I realized I chose the wrong Harley family but thats another topic entirely.</p><p></p><p>You have to really sit down and figure out if you can even get out of the Mustang being so new. Sure people can tell you to sell it, but if you have any negative equity you have to pay for it if market value is lower than what you owe. Unfortunately a Mustang GT isnt a Cobra or Shelby so youre probably going to take bath on it to get out of it.</p><p></p><p>Ive also played the "trade out of it to try and get out of debt" and it doesnt work like that. Its still DEBT. Depending on how much you owe on the Jeep, Id work hard to get that PAID OFF and keep it then focus on the Mustang. Id bet that payments on a Super Duty trading in the Mustang and Wrangler would still be around 1K a month. The negative equity is going to kill you.</p><p></p><p>Id say you have the family vehicles covered. Theres nothing wrong with wanting a toy for yourself. But trading and buying another vehicle will only make your situation worse. I say keep Mustang, pay of Wrangler as fast as possible then repeat with Mustang.</p></blockquote><p></p>
[QUOTE="RedVenom48, post: 16119135, member: 166576"] Unless you can get out of the Mustang without a loss it will be.. a loss. I totally get where youre coming from if its regret from the purchase due to payment. I felt that way instantly after riding off a Haley dealer lot with my new 2007 Fatboy. It didnt help that I realized I chose the wrong Harley family but thats another topic entirely. You have to really sit down and figure out if you can even get out of the Mustang being so new. Sure people can tell you to sell it, but if you have any negative equity you have to pay for it if market value is lower than what you owe. Unfortunately a Mustang GT isnt a Cobra or Shelby so youre probably going to take bath on it to get out of it. Ive also played the "trade out of it to try and get out of debt" and it doesnt work like that. Its still DEBT. Depending on how much you owe on the Jeep, Id work hard to get that PAID OFF and keep it then focus on the Mustang. Id bet that payments on a Super Duty trading in the Mustang and Wrangler would still be around 1K a month. The negative equity is going to kill you. Id say you have the family vehicles covered. Theres nothing wrong with wanting a toy for yourself. But trading and buying another vehicle will only make your situation worse. I say keep Mustang, pay of Wrangler as fast as possible then repeat with Mustang. [/QUOTE]
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SVTPerformance's Chain of Restaurants
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I thought the mustang was what I wanted
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