New guy here...

[racerxdetroit]

Oops New guy!!! Lmao

Dont know if this is the correct place for this thread but just wanted to introduce myself, my name is Steve aka (Racerxdetroit). I have owned 2 Mustangs a 91 LX 5.0 and a 1995 Saleen, out of all the cars and SUV's I have owned the Mustang has alwasys been my favorite. With that being said I am coming back to the Mustang family in July, I have a need to for a 2005/2006 Mustang GT vert 5 speed of course as a project car I have been wanting to work on since the 05 Mustang hit the road. A mustang has been completely out of the picture for a while due to a wife and 6 daughters LMAO!! but I'm at a stage in my 42yr old life where I want a toy of my own again, A 2011 5.0 would be lovely but no where near the budget. So on July 15th since I relized I wouldnt be retiring no time soon due to my youngest daughter is 1 yrs old I saud the hell with it and im gonna borrow some of my own hard earned money out of my 401K along with what I have saved and cash out on a Mustang GT vert. July 15th my search begains so any help locatating a good Stang would be helpful.... Thanks in advance and looking forward to interacting with you all on the board..

Steve!!!

 

[1BADHRSE]

congrats man!!

Autotrader.com helped me locate my car, so I would start there...

Also beware of what you are buying... Obviously look for the least amount of miles but watch for modification. I would not buy a car that has anything more then an intake and exhaust. I personally don't trust whoever had the car before, last thing you need is to be chasing around problems.

Carfax is your friend lol.
Good luck with the search!!

-Joe

 

[bigray327]

Welcome to the forum. Six daughters?!?! I would have shot myself after one.

BTW, borrowing money out of the 401K isn't the wisest choice in this particular market. Think twice!

 

[Nastystang06]

Welcom to the forum man, so what's your plans once you get a ride, as far as mods?

 

[stkjock]

guess the "New User Introductions" was not descriptive enough?



Nice to have ya here at S197forum! Please read through these:

http://s197forum.com/forum/showthread.php?t=30272

http://s197forum.com/forum/announcement.php?f=19



OP - there's a very nice Vert for sale right here!

BTW, borrowing money out of the 401K isn't the wisest choice in this particular market. Think twice!

he's borrowing... not liquidating....

 

[bigray327]

he's borrowing... not liquidating....

I'm aware of that. Not a good idea if the market conditions are not right. If it's rising, it's not optimal.

 

[HOLYWD]

I'm aware of that. Not a good idea if the market conditions are not right. If it's rising, it's not optimal.

x2
make sure its REALLY what you want to do
Welcome to the forums

 

[racerxdetroit]

guess the "New User Introductions" was not descriptive enough?



Nice to have ya here at S197forum! Please read through these:

http://s197forum.com/forum/showthread.php?t=30272

http://s197forum.com/forum/announcement.php?f=19



OP - there's a very nice Vert for sale right here!



he's borrowing... not liquidating....

I looked for the New User Introductions guess I didnt look hard enough..lol, I did the math borring off my 401K vs a bank. I can borrow from my 401K at 3% paying myself back vs my credit union at 8.5% on the low end to 13.5% on the high end on a used car, makes more sence to use my own money. Not gonna take more than $8.000 I been doing some serious saving.

 

[racerxdetroit]

I'm aware of that. Not a good idea if the market conditions are not right. If it's rising, it's not optimal.

The market is jack I know that. I have beed watching it every day since I decided to use some of my own money.The company I work for has got rid of our pention so I have a nice stash in my 401K. I moved 80% of it into a stable fund because stocks have been tanking so bad, this world is not set up for working people to retire anymore. I have 19.5 yrs on the job and my youngest is 1 yrs old. So im sure taking $6 to $10K is not gonna make or break me and the way the econemy in Michigan is I will be working for years to some provided telecommunications dont go under as well.

 

[Hawgman]

.... I did the math borring off my 401K vs a bank. I can borrow from my 401K at 3% paying myself back vs my credit union at 8.5% on the low end to 13.5% on the high end on a used car, makes more sence to use my own money. Not gonna take more than $8.000 I been doing some serious saving.

So does that savings also include the money you won't be making on the $8k you are taking from your 401K? There is a hell of a lot more to borrowing from your 401K than just paying yourself back at 3%

 

[KIMMER]

As for car shopping, check the forums here. I would normally say avoid modded cars, but my buddy just bought a 2008 mustang gt on here with plenty of mods and it is absolutely spotless! The car is flawless in every way and he saved 15k over what it would have cost him to buy and build the same thing. Just really check the car out well, or take it to a performance shop to double check everything on it if it has lots of mods. Of course, modding is half the fun, so you might just want a stocker.

 

[killr3v]

Welcome to the forum!

 

[Charlie Sheen]

Welcome to the forum.