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  1. #1
    Community Member katana_one's Avatar
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    Default Decisions, Decisions …

    So I've been shopping for a new car and it's come down to this dilemma: keep my 95 Mustang GT or go for a new 2010 Camaro. However, I find it is a difficult choice sometimes and I've talked myself into and out of buying the new car several times.

    Following is a list of pros and cons about both decisions - maybe by putting it all down in writing I can get my head around it and make a decision once and for all.

    95 Mustang GT

    Pros:

    * It's paid for (really, this is probably the biggest factor in keeping it - it's nice not having a car payment)
    * I "know" this car (how it handles, what it can do, etc.)
    * I'm emotionally invested in this car (I've had it for a loooong time, and it's been the only constant through some good times and bad)
    * It's a "classic" in a way, since it's the last year Mustangs had the old 5.0 V8

    The Cons:

    * It needs a lot of work - we're talking new paint job and minor body work, new suspension, new CV joints, engine rebuild, new back end, and the interior needs to be almost completely rebuilt. Basically, name something and it probably needs to be replaced or rebuilt. This would probably take a couple years to complete, and probably several thousand dollars.
    * Something fails about once a year, leaving me without a car for a short period of time (some of this would go away after it was rebuilt, I hope)



    2010 Camaro 2LT RS

    Pros:

    * It's new and under factory warranty
    * It has better horsepower than my Mustang
    * It gets better gas mileage than my Mustang currently does
    * New "toys" (satellite radio, OnStar, MP3 jack for the stereo, etc.)
    * Looks way cooler than the Mustang (not that the Mustang is ugly or anything - it's still a nice-looking car when it's cleaned up)

    The Cons:

    * Monthly car payment for the next 4-6 years (depending on financing)
    * Smaller cabin - I have about a half inch of clearance between the top of my head and the roof (and that's with the seat dropped as low as it will go)
    * Reduced visibility - the windows are much narrower with larger blind spots

    So there is my dilemma. There might be additions or changes to this list as I think of them. If anyone has any helpful input, let me know.
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  2. #2
    Community Member Pardish's Avatar
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    I would buy the Camaro.

    While its always hard to say goodbye to an old car. There is a .00000001% chance that the Camaro can turn into an autobot.

  3. #3
    Community Member evilgardengnome's Avatar
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    For me, this is an easy decision- stick with Ford. It's the only true American car company left. GM and Onstar are now owned by the government. When was the last time the gov't did something better than the private sector?

    Or wait for a few model years after the gov't gets out of GM.

    Best yet- 2010 Mustang Cobra!

  4. #4
    Community Member katana_one's Avatar
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    Quote Originally Posted by Pardish View Post
    There is a .00000001% chance that the Camaro can turn into an autobot.
    That's totally going on the "Pros" list for the Camaro. :P

    Quote Originally Posted by evilgardengnome View Post
    Best yet- 2010 Mustang Cobra!
    I wish.
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  5. #5
    Community Member Talon_Oakenleaf's Avatar
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    You answerred the question for yourself, your Mustang is unreliable, continues to fail to work, and needs a **** load of money to make it just okay. Buy the new car. Any new car. Buy a dang Prius or some other green car and watch your saving grow (lmao, savings not really). Why a chevy? Why an imitation muscle car? What you really need to do is decide why it is so hard for you to do the obvious and buy the chevy. Something is holding you back. It can't be that the mustang is paid for because you need to dump money into it every year. It might be that you are having a hard time justifying spending X amount of dollars on a car that really should be a persons "second" car and not thier daily car.

  6. #6
    Community Member katana_one's Avatar
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    Interesting point of view.

    Quote Originally Posted by Talon_Oakenleaf View Post
    You answerred the question for yourself, your Mustang is unreliable, continues to fail to work, and needs a **** load of money to make it just okay.
    To be fair, the unreliability is partly, if not mostly, my own fault. I originally bought the car used and at a time when I wasn't always able to afford the maintenance it required. I let stuff slide, and it came back to bite me in the end. The rebuild, if I go that route, would include upgrading in many areas (might as well, since I'll be tearing it apart anyway).

    Buy the new car. Any new car. Buy a dang Prius or some other green car and watch your saving grow (lmao, savings not really). Why a chevy? Why an imitation muscle car? What you really need to do is decide why it is so hard for you to do the obvious and buy the chevy. Something is holding you back. It can't be that the mustang is paid for because you need to dump money into it every year. It might be that you are having a hard time justifying spending X amount of dollars on a car that really should be a persons "second" car and not thier daily car.
    I see your point on the "second" car, but I don't agree. I see no reason why it can't be my daily car. My Mustang has been my daily car for 12 years, and granted, while I do have to dump money into it every year, it's never as much as a year's worth of monthly payments on a new car. If I decide to rebuild, I will take a proactive approach and begin replacing things *before* they fail rather than waiting for them to fail.
    Last edited by katana_one; 04-18-2010 at 12:42 PM.
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  7. #7
    Community Member Talon_Oakenleaf's Avatar
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    Quote Originally Posted by katana_one View Post
    Interesting point of view.

    I see your point on the "second" car, but I don't agree. I see no reason why it can't be my daily car. My Mustang has been my daily car for 12 years, and granted, while I do have to dump money into it every year, it's never as much as a year's worth of monthly payments on a new car. If I decide to rebuild, I will take a proactive approach and begin replacing things *before* they fail rather than waiting for them to fail.
    I'm not saying it can't be a daily car, I was just pointing out that it might be a car that subconsciously you are not buying it for just this reason. I think if you can afford a new car you should buy one, just make sure it is one that you really want. I know from experience that making payments on a car you do not absolutely love really really sucks. Especially if its for five or more years.

    Here is the best advice i can give you, if your current car is a money pit and you need to buy a used car so you can fix it up because it will take some time and it is not a shelby or 63 vette or that standard then you need to buy a car. You will only be putting more and more money into your car that has/is;
    1. a unibody with limited frame
    2. not considerred a collector (by the majority)
    3. has more sentimental value than its actual worth

    I suggest that you sit down and write down all the things you want in your new car and look at every model that meets your criteria. Then go test drive each and every one so that you get a feel for what you like and don't like. Then narrow it down to three, wait a week test drive those three and then choose. By then you will know what you want and hopefully will enjoy it for all the years you have to pay for it.

    I personally have only bought used cars for myself for a while now. I am a mortorcycle guy so cars just do not give me a "wow" and must have feeling. The depreciation on a car now is rediculous. Also cars today are not built to last. If you must have "that" car save your money. If its a 66 mustang, 69 camaro or what ever find one, put the money into that and be very happy for a very long time because those cars were made to last and a relatively easy to fix. I truly hope you do what you want and what is best for you. Good luck and let me know what you decided.

  8. #8
    Community Member katana_one's Avatar
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    Thanks for the input.

    I don't need to test drive anything else, or make a list of wants/don't wants. If I decide on a new car, it's the Camaro or nothing. I'm already past that point in the process.

    You make some good points against rebuilding the Mustang tho.
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  9. #9
    Community Member English_Warrior's Avatar
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    The 1995 Mustang GT had a 302 cubic inch small-block engine....thats actually a 4.9 (4949 ccs to be exact) not a 5.0....a lot of non-car people get that wrong.....somehow the 302 V8 has become known to the masses as the 5.0 when in actuality it really isnt.....but thats off point I guess.

    If you can afford the payments you should definately go for the new car...can't say that I would pick the 2010 Camaro if I had $30,000 to spend, but thats your descision.

    It's so much easier to budget $500 a month than to suddenly get a hefty bill for a new tranny when you least expect it....those new car warranties sure do give you peace of mind.

    Not to mention that you also get 15 years of safety upgrades with the Camaro over your old Mustang.

    And from what you said it sounds like you would have to spend in excess of what the stang is worth just to get it back into proper working order....a 95 GT is worth only around $2000-$5000.

    My advice: Trade it in for that new Camaro....or keep it as a project car and buy the Camaro anyway.

  10. #10
    Community Member katana_one's Avatar
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    Quote Originally Posted by English_Warrior View Post
    The 1995 Mustang GT had a 302 cubic inch small-block engine....thats actually a 4.9 (4949 ccs to be exact) not a 5.0....a lot of non-car people get that wrong.....somehow the 302 V8 has become known to the masses as the 5.0 when in actuality it really isnt.....but thats off point I guess.
    It's become known to the masses as the 5.0 because Ford successfully marketed it as such. Yes I know it's only 4.9Liters.

    And from what you said it sounds like you would have to spend in excess of what the stang is worth just to get it back into proper working order....a 95 GT is worth only around $2000-$5000.
    The car works - I drive 75 miles round trip every day to work and back. It's just got a ton of small things wrong with it that add up. The rebuild would be to head off any more mechanical trouble. The reasoning is that it's still less than what it would cost for a new car. But you're correct that I would be spending more than what the car is technically worth.

    ... or keep it as a project car and buy the Camaro anyway.
    Briefly considered it but I don't really need 2 cars.
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