New GT website live, purchase process begins January 2016

[DieselDr]

I had to buy used as well. I was changing oil and helping a diesel tech at the local ford dealer in 05...over 10 years later still doing the same tasks! What happened.

 

[Ed Sims]

There are a lot of places out there that loan money!

Ed

 

[RickH]

By my calculations if you put $50,000 down on a $400,000 car at 5% interest rate (optimistic) for 5 years your monthly payments would be $6600.

 

[bonehead]

By my calculations if you put $50,000 down on a $400,000 car at 5% interest rate (optimistic) for 5 years your monthly payments would be $6600.

5%? That the going rate for good credit?

 

[GTeddy]

January 2016 is just about over...... well?

 

[RickH]

5%? That the going rate for good credit?

I don't have any idea what the going rate is for good credit. I just arbitrarily picked 5%, as everyone would qualify for different rates unless subsidized by Ford finance. The bad news is I didn't allow for sales tax in the $400K price. Figure with sales tax we round it up to $425K. We put down $50K and borrow $375K @ 5% for 5 years it will be $7,076 per month.

Even at 2% to borrow $375K for 5 years will result in a $6,572 payment per month. I'm sure a good number of people here will be paying cash.

 

[twobjshelbys]

Sales tax in the places I've lived in the past 20 years have been in excess of 8% (state + local) so that number hovers between 430-440K.

 

[RALPHIE]

If one had to get a loan to buy one, don't forget the insurance, as the insurance company will likely want monthly or quarterly payments from the loan company.

Then, there's also registration, which, of course, will include your yearly personalized license plate fee.

All of which says, if you cant pay cash for it, forget it!

 

[BlackICE]

If one had to get a loan to buy one, don't forget the insurance, as the insurance company will likely want monthly or quarterly payments from the loan company.

Then, there's also registration, which, of course, will include your yearly personalized license plate fee.

All of which says, if you cant pay cash for it, forget it!

:agree: More allocation for those that can pay cash. :biggrin

 

[Ed Sims]

In CA there will also be a "luxury" tax on top of sales tax & DMV fees. How about a 4% loan for 10 years?

Ed

 

[BlackICE]

http://www.bankrate.com/calculators...=+Mar+2016&ic_id=auto_loan_calc_calculate_btn

I don't think you will find any takers for a 10 year car loan. Maybe a 10 year home equity loan used for a FGt.

The CA taxes, registration and insurance is going to add a lot to the bite as well.

 

[SteveA]

Yeah that sucks.... Is this where I should post some pics of the snow in my yard to make you Ca guys feel better?:devil

 

[Sinovac]

I don't think you will find any takers for a 10 year car loan.

There are companies that will finance a car that long. It doesn't mean it's a smart thing to do, but they are out there.

 

[viva gt]

Sales tax in the places I've lived in the past 20 years have been in excess of 8% (state + local) so that number hovers between 430-440K.

13% here in Ontario. This one is gonna be out of my budget. The one thing I refuse (disciplined) to do is borrow money for toys.

 

[twobjshelbys]

The one thing I refuse (disciplined) to do is borrow money for toys.

I learned that a long time ago!!!!

 

[Ed Sims]

Oops - I've done that a lot & paid them off which will probably not bother me much on my death bed! It will most likely put a smile on my face on all the fun I had! LOL

Ed

 

[soroush]

i was told if you stay away from the forum for a while and return the chances of getting a car will improve.

 

[RALPHIE]

Yeah that sucks.... Is this where I should post some pics of the snow in my yard to make you Ca guys feel better?:devil

Ha!

Go ahead!

I'll show you snow...in California!

 

[Ed Sims]

i was told if you stay away from the forum for a while and return the chances of getting a car will improve.

Welcome back Soroush! So you want a new GT! LOL Miss you man

Ed

 

[soroush]

Welcome back Soroush! So you want a new GT! LOL Miss you man

Ed

Thanks for the welcome back Ed and yes I have my eyes on the the new car, and well with the possibility of the rally being back in Austin this year, its looking good for me to catch up with some old buddies