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Well, my idea is basically to pick up a 4.6l real cheap somewhere and swap it out, part out the other engine of what I can, such as the supercharger and see what I can use for my brothers 94 Mustang. Then I'll see what I can get on a trade in. Ford has some money back incentives for some of their new cars, especially the 08s so they can get em off the lot.
Problem is, I dunno if I really want a brand new Mustang (wierd huh). I'm partial to the 99-04 body style, and more so to the Roush. I've had my eye on a couple 03 convertibles that were both stage 1, both basically 25,000 or so with less than 5,000 miles and in mint condition. I couldn't exactly fathom spending $30,000 on a brand new GT Mustang, when the car of my dreams essentially mint condition also with less than 5000 miles was less than that.
Problem is, the bank would rather give me $35,000 at a low interest rate for a new car than 20,000 for a used car that they don't think is worth that much (no blue book value) for a bit higher interest. I don't even think that has much to do with the economy, that's just how banks roll.
The other problem I have is that I'm only 20 years old. I mean I have what I would consider perfect credit. I guess I don't fully understand credit scores, but I just figure if I make my payments on time it'll all work out. Somehow I don't have a perfect 800, but I figure that's just something I can't exactly help. Anyways, besides that I basically just started my job about 5 months ago as a drafter, and will graduate with an Associates in drafting in the end of October. Despite having a great work history, they don't trust only working there a few months, and understandably so.
I live with my parents still, it's cheap, and it allows me to save up for my toys ya know and a down payment on a house, at least til my girlfriend graduates college in the next couple years and we get married. So really, if I were to default on the loan, there wouldn't be much for the bank to take away either, and that causes problems.
I know I'm way off track now, but here's what I don't understand. When I worked at a car dealership, there was day a couple walked in with an average Mercury Sable. They wanted to buy a brand new Impala. Okay, so I over hear the salesmen talking about their terrible credit. But despite this, at the end of the day they basically had the keys to their brand new Impala. So here you have a couple that has terrible credit, and perhaps yeah they have high interest, and perhaps they had a small downpayment, but they're able to walk away with a new car.
Now you have me, who works full time, doesn't really have living expenses for the next couple years, and except for insurance and gas doesn't really have any expenses walks in with great credit looking at either a new or practically new car of roughly the same price and I can't get approved for a loan. Even at a young age I've shown my financial responsibility, my work history is great too (only 2 places I've worked at, 1 closed up shop on me without letting me know after a year, and the other after working there nearly 1.5 years I had to move on to better my life) and yet it's hard for me to get a loan.
I'm sorry I just had to vent. As far as the 5000 miles, yeah it was synthetic, but I travel nearly 3 hours a day on the interstate to go to work, school and to home after that. I knew it needed a change eventually, but I just kept checking it to make sure it was at the correct level until I had time to get around to doing it, I was legitimetaly busy. I mean just think of all the cars that don't get changed even once a year ya know. It's just thought if anything, there was still oil in it, maybe not extremely clean oil, but at least something to get me through a week of driving.
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