Graduating student, should/could I get an S550?
Discussion
Hello fellow enthusiasts, I've not posted on here much but I am a young car nut and have been contemplating my next car purchase as I look to join the working world later this year.
I've been lucky enough to have owned multiple cars throughout my studies and have most recently been driving around in a V8 5-series, so I am well accustomed to the V8 lifestyle and the associated costs.
For a long time I've had my mind set on purchasing a low mileage diesel executive saloon, however recently I have had a sudden urge to purchase the new V8 Manual Mustang; there is just so much value for money.
I've never had to finance a car so I'm wondering what options would be available to me and if this is even possible?
I would be on a salary of around £30k and would have a deposit of around £5k to put down.
Would appreciate any advice, particularly from those who have recently purchased an S550.
I've been lucky enough to have owned multiple cars throughout my studies and have most recently been driving around in a V8 5-series, so I am well accustomed to the V8 lifestyle and the associated costs.
For a long time I've had my mind set on purchasing a low mileage diesel executive saloon, however recently I have had a sudden urge to purchase the new V8 Manual Mustang; there is just so much value for money.
I've never had to finance a car so I'm wondering what options would be available to me and if this is even possible?
I would be on a salary of around £30k and would have a deposit of around £5k to put down.
Would appreciate any advice, particularly from those who have recently purchased an S550.
I say, go for it. You know fuel, insurance etc are going to be expensive but at least with a new car you wont have any unexpected bills any second hand car can throw up. If finance with PCP you will only be funding interest and depreciation which makes a new Mustang surprisingly affordable.
I dont think it will be many years before V8s are all but gone, do it now, or regret it later
I dont think it will be many years before V8s are all but gone, do it now, or regret it later
I feel more and more inclined to make this "thought" a reality as the days pass. I am a little worried about the fuel bill now that I think of it 
How many of you chaps intend to use it as a daily? For using it everyday, would 12000 miles on a pcp be sufficient? Makes little difference to the monthly payments...
How many of you chaps intend to use it as a daily? For using it everyday, would 12000 miles on a pcp be sufficient? Makes little difference to the monthly payments...
540 said:
I feel more and more inclined to make this "thought" a reality as the days pass. I am a little worried about the fuel bill now that I think of it
How many of you chaps intend to use it as a daily? For using it everyday, would 12000 miles on a pcp be sufficient? Makes little difference to the monthly payments...
If you can stand the insurance, go for it. A diesel exec car won't stir your soul like this car will. Go for it http://www.pistonheads.com/gassing/imgs/4.gifhttp:...How many of you chaps intend to use it as a daily? For using it everyday, would 12000 miles on a pcp be sufficient? Makes little difference to the monthly payments...
540
You are thinking the right way.
I contacted Ford about a Mustang when they were launched, but I was concerned about the non-availability of the sports seats package in the UK (it is available in Germany but not with RHD
). The deliveries were 18-24 months so I did not go any further at that point. I got a phone call last week to say that the local Mustang dealer had a demonstrator and would I like to try it. Naturally I did. I recommend that you do the same.
In the flesh, particularly the coupe, the car has style and presence to burn. Quality of external finish was superb. Beautiful alloys. Internally you know that you are in a Ford. I mean that in a positive way, it is part of the character and the Mustang schtick, and it's what you hope for. It has a laid back blue collar guts, the sort of car Springsteen would drive. It also has four usable seats without compromising the fastback style. Why can no one else do this? This car has the looks of an AM DBS but the family can pile in the back. The level of equipment is not just good, it is extraordinary, brilliant voice activated sat nav, steering, engine and exhaust systems adjustable, LSD, heated seats, line lock.The sports seats are a non-issue - the standard leather seats are fantastic. The seating position and view out over the bonnet is as good as Jaguar, which is the best on the market in that regard.
The driving experience I can only describe as Bullitt in a box. It was a manual 5 litre V8. Exhaust noise, 10/10, and that was without putting it in Sport mode. Given the prevailing weather conditions I could not push either the engine or the handling to extremes. Gearbox is superb, short shift, mechanical, precise, a real enthusiast's unit, and I would suspect that the auto which comes with paddleshift would also be a good option. I'm told that it can achieve 25mpg combined, though who cares with the price of fuel falling the way it is. I would love to drive the car harder on a good road in warm conditions.
It is everything I hoped that it would be, a brilliant piece of work by Ford. It is fast stylish, practical and huge fun in every detail.
If you can get insurance at a sensible level, and you try it and like it, forget fuel consumption, go for it. Put down £5k, finance the rest over 4-5 years. What will it cost you? maybe 450/month. Then when it is paid off, its yours. Don't go for any PCP or similar - all that does is push up the finance costs and the bottom line is that you won't get to keep the car. And this is one you will want to keep. Speak to Oracle Finance and they will give you a quotation. I don't think that you will regret it. You have the rest of your life to be old. I wish Ford had produced a car like this when I was 25 - I had a TR4A, a Fiat X1/9 and several Golf GTi's, but this is in a whole different league. Believe me, if you are in one of these you can look at people in Jags Astons and Maseratis, even Porsche as equals.
PS You know, I am wondering which of the Callum brothers is more talented. Could be Moray. This is very very very good. A tiny detail, looking back through the side mirrors, the rear haunches are positively exquisite. But not only the style - every detail is right. This car made me think I was Steve McQueen, which was a good feeling.
You are thinking the right way.
I contacted Ford about a Mustang when they were launched, but I was concerned about the non-availability of the sports seats package in the UK (it is available in Germany but not with RHD
). The deliveries were 18-24 months so I did not go any further at that point. I got a phone call last week to say that the local Mustang dealer had a demonstrator and would I like to try it. Naturally I did. I recommend that you do the same.In the flesh, particularly the coupe, the car has style and presence to burn. Quality of external finish was superb. Beautiful alloys. Internally you know that you are in a Ford. I mean that in a positive way, it is part of the character and the Mustang schtick, and it's what you hope for. It has a laid back blue collar guts, the sort of car Springsteen would drive. It also has four usable seats without compromising the fastback style. Why can no one else do this? This car has the looks of an AM DBS but the family can pile in the back. The level of equipment is not just good, it is extraordinary, brilliant voice activated sat nav, steering, engine and exhaust systems adjustable, LSD, heated seats, line lock.The sports seats are a non-issue - the standard leather seats are fantastic. The seating position and view out over the bonnet is as good as Jaguar, which is the best on the market in that regard.
The driving experience I can only describe as Bullitt in a box. It was a manual 5 litre V8. Exhaust noise, 10/10, and that was without putting it in Sport mode. Given the prevailing weather conditions I could not push either the engine or the handling to extremes. Gearbox is superb, short shift, mechanical, precise, a real enthusiast's unit, and I would suspect that the auto which comes with paddleshift would also be a good option. I'm told that it can achieve 25mpg combined, though who cares with the price of fuel falling the way it is. I would love to drive the car harder on a good road in warm conditions.
It is everything I hoped that it would be, a brilliant piece of work by Ford. It is fast stylish, practical and huge fun in every detail.
If you can get insurance at a sensible level, and you try it and like it, forget fuel consumption, go for it. Put down £5k, finance the rest over 4-5 years. What will it cost you? maybe 450/month. Then when it is paid off, its yours. Don't go for any PCP or similar - all that does is push up the finance costs and the bottom line is that you won't get to keep the car. And this is one you will want to keep. Speak to Oracle Finance and they will give you a quotation. I don't think that you will regret it. You have the rest of your life to be old. I wish Ford had produced a car like this when I was 25 - I had a TR4A, a Fiat X1/9 and several Golf GTi's, but this is in a whole different league. Believe me, if you are in one of these you can look at people in Jags Astons and Maseratis, even Porsche as equals.
PS You know, I am wondering which of the Callum brothers is more talented. Could be Moray. This is very very very good. A tiny detail, looking back through the side mirrors, the rear haunches are positively exquisite. But not only the style - every detail is right. This car made me think I was Steve McQueen, which was a good feeling.
Edited by cardigankid on Wednesday 20th January 21:06
540 said:
I feel more and more inclined to make this "thought" a reality as the days pass. I am a little worried about the fuel bill now that I think of it
How many of you chaps intend to use it as a daily? For using it everyday, would 12000 miles on a pcp be sufficient? Makes little difference to the monthly payments...
Use it daily by all means it's part of the character of the thing.How many of you chaps intend to use it as a daily? For using it everyday, would 12000 miles on a pcp be sufficient? Makes little difference to the monthly payments...
But on the fuel, you are having a laugh, surely. Who gives a f
k about the fuel bill? As I said, I would think carefully about a PCP. You are funding a balloon payment. For only a little more you will end up owning the car, and this is one of the best of all time, way better than the original 'Stang.Edited by cardigankid on Wednesday 20th January 21:18
Wow Cardigankid thank you for the detailed response.
That was a fantastic read, I guess I really need to get in for a test drive! My insurance for the past couple of years has been 1k or over, it will probably drop a nice bit this year again. But if the insurance is around that mark I won't hesitate about the purchase.
I'm still a student and I'm a good few months away from putting down a deposit. Will it be a bit tricky to get a test drive at this stage?
That was a fantastic read, I guess I really need to get in for a test drive! My insurance for the past couple of years has been 1k or over, it will probably drop a nice bit this year again. But if the insurance is around that mark I won't hesitate about the purchase.
I'm still a student and I'm a good few months away from putting down a deposit. Will it be a bit tricky to get a test drive at this stage?
I don't see why it should be a problem.
The vital thing is to have a good insurance record a good credit score and no points on your licence. That is your most valuable asset. Then get a regular job if you can.
Even if you order one now you won't get it for a year. Order one in 12 months if conditions allow or whenever suits you. Start saving for a deposit in the meantime. There's no panic.
By the way, I take it you have somewhere to live, you can't sleep in it.
The vital thing is to have a good insurance record a good credit score and no points on your licence. That is your most valuable asset. Then get a regular job if you can.
Even if you order one now you won't get it for a year. Order one in 12 months if conditions allow or whenever suits you. Start saving for a deposit in the meantime. There's no panic.
By the way, I take it you have somewhere to live, you can't sleep in it.
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