Can I Afford To Buy A Mustang? 

No question. Payments are not good.

The best way is to get a cheap Car then save a bit to upgrade then do it again after 5000 car save 3000 then get a car over 7000 then set aside more then you can get up to 10k +!

@@thunderspence8183 I didn’t mention it was a 40 thousand dollar car. I just paid it off this year. Never will I ever finance another vehicle.

Tell the truth and admit your parents bought it for you No teenager gets approved for a car loan on income that low and if you do, the lender is a crook charging you fees and double digit APR

@@15KHPCLUB don’t be so quick in making assumptions, my parents didn’t split one penny with me or finance for me. Bought my home on my own at 21 years old… That’s the only debt I currently have. It isn’t rocket science.

You buy one out of college but then tell him not to. 😂🤣 Reminds me of my dad having a cigarette in his hand and pointing to me with it I don’t want you to smoke. 😂🤣 I told him don’t worry I’m not stupid like you are. He said good boy. 😂

I think it's a wise thing to do at his age. Young man with a new car will attract young women.

@@f430ferrari5 some people care enough to warn you of things they know are bad or been through

@@johnwigren4429 you’re correct but only young and stupid girls that don’t know any better but everyone has to learn. IMO how guys drive Mustangs and Chargers is a huge turn off because it reeks insecurities.

Yeah he said 25k. I think more like 38k + from what i see on the mustang.

Similar comment I said.

I've always wanted a BMW. But now, I'm concentrating on our retirement.

The only BMW I'd get is the Z-4 or the z-3 if in good condition.

@@Primitive_Code I got a 2018 440i and love it, It's what I wanted. Both those Z are nice.

@@azteca6695 old age isn't guaranteed

I never realized how broke I was until I had 20k in the bank. I think you need to make good money or accumulate good money to really begin to see the big picture clearly. The average person thinks 5k is a windfall. To me it's just property taxes.

"the urge to covet" good term for that feeling, I know it well. Have spent a lot of money in home theatre systems and fancy cameras and realize that it was not money well spent (even though I do get much enjoyment and satisfaction from those toys). I'm typically a saver kind of person, can delay gratification for a long time until I decide to pull the trigger and then I seem to be able to spend swiftly.

True story.

As I get older I covet free time over flashy things. Early retirement is now my shiny Porsche I once wanted.

Eloquently and Truly Spoken. It is unfortunate that this lesson often cannot be taught. Many times an individual must experience it first hand to truly understand. I will try to install this knowledge in my child. Wish me good luck. Good post. Respectful Regards.

Terminator my next step🙏

Very smart sir...I totally get you! 😉

Sounds like my story.

This is the way Absolutely nothing wrong with buying an older model with higher mileage. For $6.5k you're driving a mustang and having fun with it.

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Good job bro, that’s the way to go! I’m 26 also, and paid $5K upfront for my Solara Convertible! I enjoy driving it, and it’s awesome having no financial headache to operate it.

@@Argedis 120K miles on a sports car is dicey. If it’s been gently driven an old lady all these years & passes a mechanic’s check, then maybe. But if you’re not sure, then better to take a pass.

@@SamWesting Well yeah that's obvious that you should get it checked out if you aren't mechanically inclined. I myself bought a 2001 Tacoma with 200k miles for $3k. Runs like a dream. No leaks. ICE Cold AC. Did you know you can easily see how much engine wear a vehicle has with a scan tool? Simply by analyzing how much the computer is compensating for the engine to run correctly.

True that, im planning to get married in vegas too next year they have a marriage package that i can pay it cash

For males, it's mostly age 26 with a clean record and loyalty with the provider

Same here . Bought a mustang convertible after my 30 year military service

Exactly. If he's getting a car he should be thinking "wow I can invest more" not "wow, I could have TWO whole VEEhickles!"

Yeah this guy sucks

Very weird advice from Dave on this one. I have a company car that isn't for personal use -- I can't drive it on weekends, etc. I can, however, stop at the grocery store and elsewhere on my way home from work. I sold my personal car about a year ago when the prices went up and haven't looked back. I rent a car 1-2 days per month at most, which costs about the same as my monthly insurance bill for the old car. I'm in a small city so it's easy for me to walk many places. The savings on gas, repairs, maintenance, etc are tremendous. Plus, I invested the 20k I got from selling the car. Very few downsides here.

Right and my thing is he have a great head start to be so young. Why get a toy car at this time when car prices is ridiculously. I would wait and invest that money. He's 21 a mustang not going anywhere. I truly think he want a mustang to impress the ladies.

Pretty much

Especially for a vee-hickle

Sadly no one is going to respect you driving in a used Honda Civic all day. This kid needs a proper car. A car that tells the world he is a somebody. Not a nobody.

@@costco_pizza a somebody who is broke.

I had a 2006 through college and experienced the exact opposite... that thing was a nightmare

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Yeah agreed, will be far less stressful when he has saved from work wit say $50k cash in the bank and an emergency fund, won’t be as tight. He’s just 21 so

spending hundreds to rent a car is def not the way to go

​@@julissaperez4875 He should graduate and start his new job. If he rents a few times and falls in love with the car and realizes that he wants it even more and that it's worth every penny, then he should go out and buy his own Mustang. I changed a lot after I started my first job out of college. My life goals and priorities changed with the additional responsibilities and stress of being self sufficient. The reason I made the comment was because I wanted to buy a lot of things as I was graduating and looking back, I realize that some were fleeting wants that no longer interest me. I'm sure glad I didn't drop $20k on one of those wants.

@@gregoryyentz6241 You are not changing my mind, that is your experience. He said it has been a "dream" of his to own one. Spending hundreds of dollars to rent a vehicle he already knows he wants is a waste of money.

Cars are a waste. I’m 61 and don’t own a car.

Yeah and he will be feeble and old and may not even make it to retirement age. I think with his projected income and savings, that financing a 20-25k car at a low apr isn't bad. Buying a car cash when you have a low apr available is honestly stupid when you can invest the difference into accounts that would likely yield better returns

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Hey there! This is the Caden from the video! I did buy the mustang, my buddy has a 69 boss as well that he got in the 70s and still has it. Great car

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I agree. Spend the extra and get what you want the first time.

Agree!

You just reminded me of what a P.O.S. those years were as my bro in law had one and the steering was a total mess as it would sometimes get stuck and/or stall.

No, he should wait. Dreams can wait

@@unfairsanic5089 Hardass.

With your logic, it would be easier to rent the car and get it out of your system.

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Yes, get the V8 GT.

Smarter move.

Yeah I was thinking the dude may regret giving up the practicality of the crosstek.

Wow. An expensive paper weight. Why buy a car to just look at it? It's for driving. Drive the heck out of it. You can't take it with you.

He should not he strict, he is trying to help people not hurt them as feelings

Depends on where you live. If you live in the south or much of the west coast, not having AWD isn't a deal breaker. The newer WRX's with the FA20 don't seem to hold up to extra boost as well as the old EJ's did.

Lol

Because even its low its still interest rates, buying car in cash is still 💯 better

@@unfairsanic5089 I disagree. If you can invest your money rather than putting the entire sum in an instantly depreciating asset, you save money in the long run. I understand it is good to be debt free, and some people need to operate in this manner, but saying that buying a car in cash is 100% better, is not true.

It's important to at least be ABLE to buy the car in cash, even if the decision is to finance it. If you're going to borrow $20K to buy a car, you should have at least $20K in investments (outside of 401k/IRA) earning money for you at a higher rate than the loan's interest rate. And the $20K invested should be liquid so you can turn it into cash quickly to pay off the loan at any time if you ever need to or want to.

@@safye4 And you would be wrong! You do not understand debt or how interest is theft. But you are welcome to make your banker rich, go for it.

@@megalodon1726 Yeah, I don't disagree with you. You should defnitely be able to purchase your car in cash, at least that would make me comfortable.

Probably he will get an ecoboost

He'd be buying a used one.

@@hawkeye2958 Actually you can get yourself a V12 for under $25k. Why settle for a V8?

@@unfairsanic5089 u missed my point.... he said 25k... and he said he makes 45k, half of 45k is not 25

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you are not going to delay the purchase, are you?

He'd be using it as a weekend fun car, so he wouldn't have big gas expenditures from commuting. The problem is unnecessarily throwing so much money into buying the car at this stage of his life.

Big giant waste

This ^

Bro 😎 . This

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Right. 😂..

Cars only attract other guys 😂

@@richthepup that's true. But the newer Mustangs are definitely chick magnet cars.

Lol 😂 I see what you did there 👍

That's my point right here. The Vette has more to offer than the mustang.

@@wannabecarguy You cannot get a good C6 Vette under 25k

@@justinkrizenesky if youre OK with having some miles on it you can. Plenty of options for ~30k with low milage unless you insist on a z06 or grand sport. I prefer the vette, they are insanely good cars, even with inflated prices.

So uuummm…..

Amen, and step down to a Ford? Another sucker

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Name some.

Are you kidding? The Mustang has always been one if the best value cars with good RWD performance.

@@nickm4662 dont forget reliable as well

@@unfairsanic5089 y'all are hilarious.

@@justinkrizenesky you want pent roof overhead cam list .? Or the push rod bath tub list?

Corolla>tacoma

@@unfairsanic5089 Corolla/ beans&rice 😆