Trading in a car and buying a new one... maybe?

[Cuda1447]

So, Ive put about 30k miles on my 2006 Mustang V6. Fun car, but after owning for a few years I've learned a few things about what I want in a car. First of all, I think I want a convertible. I live in Florida and it seems like something I'd really enjoy. Secondly, I think I'd like to try a manual transmission. I bought the auto for convenience, as I drive a good ways to work everyday and about half is stop and go. I think the manual would be fun though.


Now normally I wouldn't consider buying a new car (or used maybe?). I financed about 18k on my Mustang (Put about $5k down). I got around a 7% interest rate I believe. My credit should be better now, being nearly 23, so I'd imagine I could get a better interest rate on a new one. According to a letter from the dealership I got my car at I'm able to get into a new Mustang with no money down and possibly at a lower interest rate saving me money. I'm sure this is only possible because I put a decent chunk down.


Now I'm inexperienced in this regard. What are some things I should be considering when looking to possibly trade in my car to get a newer one. More importantly though, what car should I get?


Obviously the Mustang is an option. All in all I really love the car, I'd just change a few things and get the Vert. Another option is the Pontiac Solstice which seems to be around the same price range. To be honest, the solstice is a better looking car IMO, but from what I've been reading performance isn't as good. Curious as to your thoughts on it.


Any advice would be appreciated, thanks in advance.

 

[fbrdphreak]

Well, be careful with any letter from the dealer like that - there will always be a catch. I've seen dealers promise a low interest rate because they tack on additional cost to the car. When I was shopping for my Goat, one dealer said they could do like 1.9% or 2.9% and I didn't take it - the guy called me back a while later (after I bought one) and I found out his sales manager was able to do that because they can pay $X thousand dollars to decrease the interest rate on the loan - i.e. paying the interest up front. LAME :thumbsdown:

Anyway - onto your question about a car. A Solstice shouldn't feel too much slower than your Mustang. An 06 Mustang curb weight is 3500 lb give or take - a Solstice weights a hair under 2900 lb with a 177 HP standard. Add in a 5-speed and that Solstice will feel very peppy. Now you could try to find a Solstice GXP, 260HP 2.0L turbo, but they will be harder to find used and cost more. Either way, I think the Solstice is a great car and if you want a fun to drive, manual transmission vert - sounds like a winner to me.

Good luck!

 

[Cuda1447]

Ya, I was very concerned about the 'catch' the letter brings. I know full well its a ploy to get me on the lot and spend more money. Thing is I've been rationalizing in my head how it would make sense unfortunately, I'm good at rationalizing. I do have a high interest rate, so if I'm smart about it and get a lower interest rate I could actually be coming out ahead with a car I would enjoy more, no?

 

[Fenixgoon]

a brand new solstice GXP is $25k MSRP, and the saturn sky redline is $30k MSRP. i know the base sky has more features by default than the base solstice, but i'm not sure how the GXP/redline models differ

edit: wtf, they upped the MSRP. bastages :|

according to pontiac.com, Solstice GXP MSRP = $28k
Sky Redline MSRP = $30k

 

[Cuda1447]

I wasn't looking at the GXP necessarily, but maybe I should? Are you familiar with the performance differences between the base solstice and GXP? Also, is the sky a lot better performance?

 

[Fenixgoon]

Originally posted by: Cuda1447
I wasn't looking at the GXP necessarily, but maybe I should? Are you familiar with the performance differences between the base solstice and GXP? Also, is the sky a lot better performance?

personally, the i like the sky a lot better. both look gorgeous in person though. the sky has more standard features, but not by much (at least on GXP/Redline models).

the GXP/Redline models are more powerful and sport tuned compared to the base models.

Solstice @ edmunds, includes base and GXP
Sky at Edmunds, includes base and Redline
solstice GXP @ autoblog
Saturn Sky @ Motortrend
Sky Redline @ MotorTrend
Solstice @ MotorTrend
Solstice GXP vs. BMW Z4 vs. Nissan 350z

 

[ponyo]

I would look at used Miatas if you want convertible.

Are you upside down on your car? How much do you still owe?

 

[thedarkwolf]

I was about to post the samething about miatas. I have a miata myself but I don't have any problems with the GM cars. Its just a used miata will be a hell of a lot easier to find. If you are happy with the straight line performance of the v6 automatic mustang you should be happy with the standard solstice/miata. They handle really well but aren't exactly speed demons while the GXP solstice is.

 

[Cuda1447]

I'm not upside down on my car.

Also, I don't really like the looks of the Miata's, although they are good performance wise I hear.

 

[vi edit]

One thing to keep in mind if you go with something like the Solstice is that it is absolutely unforgiving when it comes to luggage/storage/people hauling. At least with your Mustang you have something that qualifies as a backseat and a bit of a trunk. You can still pick up a weeks worth of groceries and carry another person along.

With a Solstice you are looking at enough storage to haul a laptop bag and that's about it. No backseat to throw a backpack or other stuff if you need it. No trunk to put anything of value/size in.

 

[Cuda1447]

Good point VI. I'll have to take a look at it in person and see just how unforgiving it is. Shouldn't be a huge problem. Just me and my g/f, every once in awhile I might need to put something more than my laptop/backpack in there, but thats only when Im solo. If i need groceries we could just use my girls vibe I suppose.

Also, has anyone here had any experience with carmax? I found a nice solstice in black on there for about $20k. Looks like the styling/features I'd want, but I'm not to sure how they are going to differ from a normal car dealership.

 

[sniperruff]

under $20k convertible... hmmm

http://cgi.ebay.com/ebaymotors...VWQQrdZ1QQcmdZViewItem

http://cgi.ebay.com/ebaymotors...VWQQrdZ1QQcmdZViewItem

;P

edit: didnt realize the vette is an auto box.

 

[Cuda1447]

I don't want a car with 80k miles on it and I personally think those cars are both ugly.