Keep 2008 or sell and get 2013?

[texaggie]

Ok, so I keep thinking about selling my 2008 GT500 and buying a 2013 GT500, but I can't make up my mind. What do you guys think?

 

Here is where it all stands.

 

The negatives on the 2008: It has 51,000 miles. It has some minor paint blemishes 3 small rock chips on hood and a small scratch on each door (both about the size of a pencil eraser). No Warranty.

 

The positives on the 2008: It is almost paid off. It has several upgrades - Ford Racing Power Pack, Ford Racing Handling Pack, SPEC Super Twin clutch, 3.73 gears, Ford Racing Short Throw Shifter, Shelby leather interior upgrade. Lastly, outside of the factory clutch and cheap original interior, it has been a great car.

 

 

The positives on the 2013: It has no miles. It has a warranty. It runs over 600HP. It would have Nav/ Electronics package, Recaro seats, and the 821a package set up. I could get it in the color I wished was offered in 2008 (Ruby Red) Lastly, it would have some sentimental value because it is my daughter's birth year. (My brother and I both have vettes from our father that are our birth year. I thought it might be cool to have one that was my daughter's year, and if I managed to raise her right, I could give it to her one day.) The sale of the 2008 would allow for a nice down payment on the 2013.

 

The negatives on the 2013: I would have a longer car note. It would not have any custom/ personalized touches for a while. I don't know if there are any issues with the 5.8 engine or any of the new parts for 2013.

 

All thoughts are welcome.

[S8MS-01904]

Only voicing here for the sake of financial sense, resist the urge to spend borrowed money for a hobby car. What I would do, not that you will take my advise, but I would contemplate the sale of the '08 over the next few months and sell it. Then, "look" for a used '13 in 18 to 24 months. This allows the "newness" to go away and the savings will be worth it.

 

When I purchased my '08, it was the "hunt" that got me hooked into the spending. It's the urges that we have to be to resist.

[07gt500conv]

Personally, I would keep the 08 and pay it off.

 

I purchased my 07 in Jan 12 and although I looked at the 13, the price tag was not justifiable to me. I paid cash for the 07. And as S8MS-01904 said, to make payments on a "hobby" car is not worth it to me. Besides, take the money after paying it off and use it for Mods. Then you have something better than the 13.

[ViperNC]

Keep the 08 car. The body style is classic and although less power than the new cars you can easily match or exceed the HP with mods. In addition, you'll never get the value of your upgrades unless you take them off the car and sell them separately. If you want a 13 or 14 car in the future just wait a little while longer. There WILL be someone looking to sell one in the future and their loss is your gain. I see plenty of 2011 - 2012 cars right now for sale with just a few thousand miles which are priced far less than the original sticker.

[MY500SS]

Keep the 08 car. The body style is classic and although less power than the new cars you can easily match or exceed the HP with mods. In addition, you'll never get the value of your upgrades unless you take them off the car and sell them separately. If you want a 13 or 14 car in the future just wait a little while longer. There WILL be someone looking to sell one in the future and their loss is your gain. I see plenty of 2011 - 2012 cars right now for sale with just a few thousand miles which are priced far less than the original sticker.

 

 

Sound advise.

[Cobramach1]

I agree with the rest. I wasn't in the same situation as you, but my story is a bit similar. I'll give you my thoughts on it. I prefer the '07-09 body style myself but I absolutely love and prefer the '10 and newer interiors. Since I figured I would be spending more time 'in the car' I was thinking about getting a used '11 in 2013 or '14 once they had depreciated a bit. However I found out early in '11 about the 650+ hp in the '13 and decided that I didn't want to wait until 2017 or '18 to purchase a used '13/14 and figured I would get an '07-09 that was depreciated out quite a lot and that would hold it's value pretty well to trade in on the '13/14 down the road. Now after owning the '08 I really love the car and if it's horsepower I want it's simple enough to make as much or more than the '13/14 so I don't know if I can justify thinking about selling the car any longer down the road. And as far as the interior is concerned. I've gotten to like it. The only drawback to it is the cupholder placement is in the way of shifting if you have anything other than a 12 oz can in it. Since that didn't change in the newer cars either they all have the same issue. I'm just going to pay off the Shelby and call it good at this point and continue just modding it as funds become available and make it mine. Sure it has a few paint chips, but the new car will get those too eventually. I really liked it when my '04 Mach 1 was paid off and I didn't have a car payment. I really can't wait to not have a car payment again. I figure when it's paid off then if I want more power I'll go ahead and put that "car payment" towards performance mods at that time.

[07gt500conv]

I agree with you about the cupholder, but you will get used to that also. I actually like having a 16 or 20 oz pepsi bottle in the back cup holder. I can rest my arm on the top of the bottle and shift rather nicely. Now if I am trying to shift quickly, it is not there. But for road trips, it is an armrest for me.

[vandy09]

Id keep the 08. As much as i love the '13/'14, i still like the 07-09 rear ends.

 

If its paid for or almost paid for that is a huge plus in my book. Im having a hard time justifying the "toy car" payment my self. and even though i owe less than i do on my wifes kia, and pay slightly more a month (bout a hundy) for the shelby... she always comes back at me with... well i drive mine. lol

 

anyway, IF you want the 13/14 id hold off a bit and get one at a lower price. I dont think they will drop too low though. I think they will hold value much like the 03/04 cobras.

 

Honeslty im hoping the 15+ is an awesome car, 1. it may drop the value of the current shelbys, and 2. it may give me more of an option. I'd hate to drop the coin on a 14 gt500 only to see that the 15 mach 1, or if they pull the trigger on the gt350, is an awesome package with an irs.

[SSSNAKE]

 

 

Only voicing here for the sake of financial sense, resist the urge to spend borrowed money for a hobby car. What I would do, not that you will take my advise, but I would contemplate the sale of the '08 over the next few months and sell it. Then, "look" for a used '13 in 18 to 24 months. This allows the "newness" to go away and the savings will be worth it.

 

When I purchased my '08, it was the "hunt" that got me hooked into the spending. It's the urges that we have to be to resist.

 

I've been considering a new 2014 as well and have recently (and grudgingly) determined that just exactly what you are suggesting makes the most economic sense.

 

Unfortunatly, the value of the 2007-2009 cars have dropped since the '13/'14 cars have been made available. So I'm going to play it by ear and see how it goes.

[twobjshelbys]

How old are you? Will you have 20-30 more years? If so, skip the 13, get a 14. It's the end of an era, and could appreciate more than depreciate. Put 1000 or so gentle miles on it a year (to keep the fluids circulating, especially the supercharger lubricants, I speak from experience).

[Grabber]

Keep the 8. Fix the minor blems so you are happy with it. Pay it off. Become free of that horrible car payment.

[twobjshelbys]

Keep the 8. Fix the minor blems so you are happy with it. Pay it off. Become free of that horrible car payment.

Rob, I agree. These cars are toys. I made car payments on a daily driver when we were young, but a long time ago I decided that car toys are paid for. A GT500 as a daily driver - finance it if you want, but don't finance a GT500 and park it. You'll be better off throwing $100 bills on the strip in Vegas. These cars won't make money (well, maybe a proper 14 might in 20 years).

[Refinerydog@sbcglobal.net]

I have an 09 and a 13 - 13 is better in every way but one - my 09 is rare.

 

If your driving a lot and not collecting - go 13.

[Grabber]

Rob, I agree. These cars are toys. I made car payments on a daily driver when we were young, but a long time ago I decided that car toys are paid for. A GT500 as a daily driver - finance it if you want, but don't finance a GT500 and park it. You'll be better off throwing $100 bills on the strip in Vegas. These cars won't make money (well, maybe a proper 14 might in 20 years).

You are right. Making payments on a toy that sits a lot in the garage does not make a lot of since. When I retire....my garage queen is going to become a driver during a good part of the year. I plan on getting my money & FUN out of this car over a extended period of my life.

Edited July 19, 2013 by Grabber

[twobjshelbys]

You are right. Making payments on a toy that sits a lot in the garage does not make a lot of since. When I retire....my garage queen is going to become a driver during a good part of the year. I plan on getting my money & FUN out of this car over a extended period of my life.

You have named my plan. I was offered an exorbitant amount of money for the GT and I will not take it. I got it for a good price and plan on enjoying it much more in a few years. Too busy now but not too much more time.

[texaggie]

How old are you? Will you have 20-30 more years? If so, skip the 13, get a 14. It's the end of an era, and could appreciate more than depreciate. Put 1000 or so gentle miles on it a year (to keep the fluids circulating, especially the supercharger lubricants, I speak from experience).

Would get the 13 because it is my daughter's birth year, she is six months old, so that I could carry on the tradition my dad started when he bought a 73 vette, my birth year, and a 90 vette, my brother"s birth year. The only difference is that I'm into Mustangs more than vettes. (but I love what is now my '73 vette)

[texaggie]

The "almost paid off" part is the part that also have the hardest time overcoming. As for the "driving it" part... I would not even think about buying anything if I did not intend on using it. The '08 has 51,000 miles, all but the first 9 are mine. The '13 would probably see almost as much use.

[Grabber]

You have named my plan. I was offered an exorbitant amount of money for the GT and I will not take it. I got it for a good price and plan on enjoying it much more in a few years. Too busy now but not too much more time.

RIGHT ON !!!

 

I actually plan on getting both Tana & I another set of wheels. We will put some good "All Season" tires on the stock Rims and a set of "Summer" tires on the new Wheels that I plan on purchasing. The Razors are going to be coming back in the fall and if and when they do come back....we each are getting a set. We both have clear bras on the cars and they will be ready for daily use. That new 2010 clutch that we have in both cars now is so easy to drive in traffic too !!! Plus I won't have to buy a car once I give up my company truck....I will just kick my GT500 into action. Plus I have my Harley. :happy feet:

[GT500-07]

2013, Ford,SVT and Mr. Shelby did it right on the 2013/2014

[speedrx]

I would stay with the '08 and pay it off instead of going into debt on the '13. Save up your money and when the '13's come down and you can pay cash, then go for it.

 

The 07-09's are great cars, enjoy yours and avoid debt in this economy (or any economy for that matter).

[TurboGT]

Although driving home from the dealership in the latest, greatest muscle car is a great feeling - getting out of debt is a different kind of great feeling and lasts way longer. Given the opportunity to drive a really fast car ('08 Shelby) that you own now - or a little faster car ('13/'14) that you don't I'll take the paid off car everytime. Having a paid off car sitting in the garage may not make you faster, but it definitely makes you more powerful!

Unlike the US government - it's always better to pay off debt before taking on more.

[39Mustang]

Ok, so I keep thinking about selling my 2008 GT500 and buying a 2013 GT500, but I can't make up my mind. What do you guys think?

 

Here is where it all stands.

 

The negatives on the 2008: It has 51,000 miles. It has some minor paint blemishes 3 small rock chips on hood and a small scratch on each door (both about the size of a pencil eraser). No Warranty.

 

The positives on the 2008: It is almost paid off. It has several upgrades - Ford Racing Power Pack, Ford Racing Handling Pack, SPEC Super Twin clutch, 3.73 gears, Ford Racing Short Throw Shifter, Shelby leather interior upgrade. Lastly, outside of the factory clutch and cheap original interior, it has been a great car.

 

 

The positives on the 2013: It has no miles. It has a warranty. It runs over 600HP. It would have Nav/ Electronics package, Recaro seats, and the 821a package set up. I could get it in the color I wished was offered in 2008 (Ruby Red) Lastly, it would have some sentimental value because it is my daughter's birth year. (My brother and I both have vettes from our father that are our birth year. I thought it might be cool to have one that was my daughter's year, and if I managed to raise her right, I could give it to her one day.) The sale of the 2008 would allow for a nice down payment on the 2013.

 

The negatives on the 2013: I would have a longer car note. It would not have any custom/ personalized touches for a while. I don't know if there are any issues with the 5.8 engine or any of the new parts for 2013.

 

All thoughts are welcome.

If the payment doesn't bother you the 2013 has over 600hp... where do you sign?

[wingsnut]

Keep the 8, when it's paid off take the extra cash for mods and daughter's college education (in a few years she may appreciate that more). Nothing more satisfying than driving down the road in a paid off toy. I'd only say to move over to a 13 if you could do the deal in cash.

Good luck with your decision.

Chip

[texaggie]

Keep the 8, when it's paid off take the extra cash for mods and daughter's college education (in a few years she may appreciate that more). Nothing more satisfying than driving down the road in a paid off toy. I'd only say to move over to a 13 if you could do the deal in cash.

Good luck with your decision.

Chip

The college part always comes before the fun part. If paying for college was a factor in this, then there would be no discussion.

 

That being said, I do feel the same as most of you. No debt is hard to pass up. That is the only real part that is holding me back.

[ViperNC]

It is much easier to find debt these days than be debt free. The added benefits of the newer car will not come anywhere close to the comfort of not having a car note to pay every month. I paid cash for my car 4 1/2 years ago and sleep very well at night. Last thing you want is buyers remorse a month after you get the 13 and wish you had not gone that route. I keep reading all these posts about the 13 car being so much better, but remember that is opinion from those who purchased and subjective. Although it is a more powerful car... frankly most people cant truly handle the power of your 08. Unless you are on a track or closed course, you'll never be able to unleash the 13 to its full potential and even then it takes a skilled driver with tons of experience to pull that off. Enjoy what you have and I would encourage you to improve the car step by step. As I stated before, you can easily boost the power of your car above the 13 if that is what you are looking for. Personally, I take the money I'm not spending in interest payments and add Shelby Performance Parts to my car one at a time and enjoy each upgrade. My car now handles like it is on rails and when compared to the new 13 I drove recently, I'd rather have less HP and a great handling car.

 

BTW - For all the 13-14 owners: Don't get bent out of shape by my comments. If money were no issue, I would have one in my stable as well... but it would be way down on the list. I already have a Shelby and happy with what I have. 1st car on the list would be an 06 Ford GT!

Edited July 21, 2013 by ViperNC

[07gt500conv]

+1,000 Viper...

[Ecrissman]

Keep the 8. Fix the minor blems so you are happy with it. Pay it off. Become free of that horrible car payment.

I agree, financial freedom will make you much happier than any car. Its not worth the mental and financial stress. Just think what you could do finacially for your family once this one is paid off.

[Sherri Leicht]

I would keep the 08. It has the classic look to it and the best looking rear end! Plus you can make it faster than the newer ones if you really wanted. If the interior is not to your liking, you can always have it upgraded thru Shelby and Gary Disney. It looks fantastic, plush and bigger bolsters to hold you in place on the corners and you can choose your thread colors and embroidery designs for the head rests and console covers.

 

Congratulations on your daughter. That would explain why we haven't seen you around in a while :-)

Edited July 21, 2013 by msmap

[UK PONY]

There's some very sound financial advice that's been given in this thread already, the one thing that's driving you is the family tradition of giving children a car that was produced in their birth year. On that note is a 650hp car going to be suitable to give to your 18-25 (whenever you decide to hand over the keys) year old daughter?

 

Keep your '08 for you & at a later point buy her a GT or V6 convertible in Ruby Red. Finding Mustangs that have been babied & have all the desirable options is fun - it's something you & her could do together (I'm not a father but I can imagine that being some quality time that you'd both enjoy & remember).

 

Just my $0.02

[09 Red GT500]

Keep the 08. Save the money you would have spent on the 13 towards early retirement.