I’m having a hard time deciding on a my next car purchase. I just went through the worst money pit with a 2014 Volkswagen Passat and do NOT want to go through that again. I found a 2014 mustang V6 automatic for 13.9k with 23k miles that has not sold with 2 months on the lot at an interesting looking dealership however I’m not sure if I’m taking a huge risk here as it is a ford. What do you recommend. I am 23 years old and also need to trade in that garbage Passat for negative equity. (Able to afford the mustang with added negative equity) I need something reliable and won’t need an engine replacement like the VW did at 120k miles. It seems like a solid choice however my uncle who knows a lot more about cars is very skeptical and thinks I should buy a 4/5k Honda or Toyota. Thanks! Have not visited the mustang yet so let’s assume it’s in good shape.
my uncle who knows a lot more about cars is very skeptical and thinks I should buy a 4/5k Honda or Toyota.
Your uncle is right. At 23 years old the last thing in the world you need is to be rolling negative equity into yet more debt on another car at a stealership. It's a trap, bail out now while you can. (Not to mention the insurance you'll need to pay as a young guy driving a "sports" car.) Find a decent beater that you can buy for cash, preferably an old Toyota or Honda that has been well maintained.
A high mileage car can be OK if you're careful about it, and you can learn to handle at least some repairs yourself especially if your uncle can help you out. I've bought well-maintained used cars in the 200,000 mile range that worked out well.
I found a 2014 mustang V6 automatic for 13.9k with 23k miles that has not sold with 2 months on the lot at an interesting looking dealership
A slow seller is something to be skittish over, as well as the exceptionally low mileage. Either it sat in the garage most of the time, or the previous owner could have wrecked it, etc. Those cars aren't your dad's V6. They have 300 horsepower and 300 pound-feet of torque. I have the same engine in a newer Mustang.
I am 23 years old
Your insurance rates will skyrocket if you buy that car.
I’m taking a huge risk here as it is a ford.
Ford wasn't that bad 10 years ago. That particular Mustang was in production from 2005, they updated it in 2010, and they were the only one of the Big Three automakers that didn't require a bailout during the 2008 financial crisis. Ford had a partnership with Volvo at that time, and their quality actually improved. Volvo was still owned by the Swedes, too. Ford ended the Volvo partnership, Volvo got bought out by the Chinese, their quality went downhill, and modern Fords are chasing GM and Dodge for lack of build quality.
If you can absorb both the jacked up insurance rates and the negative equity, and the car checks out through a trusted mechanic, I would say maybe. If not, buy a newer Camry. Just avoid the 2008-2010 model years, if I remember right. They had problems with their piston rings. Toyota recalled most of them, but not all. Owners had to take them to dealerships for recall work. Not all did.
do yourself a favor get a Honda or toyota you'll be much happier in the end..just watch the cost....
Should I be more concerned with getting low mileage in my car as long as it’s a reliable car or is it better to just save the money and get a beater Honda/toyota for 4/5k regardless of the miles as long as it been maintained and has good history