Quote:
Originally posted by Mr 5 0
Unit 5302:
I believe that banks only loan you about 70% of the vehicle's NADA retail price, so on a $10,000. car you'll only get $7,000. This may vary with the bank and the area of the country.
Getting the year, model, engine, tranny and color you want in a used car is a daunting challenge. I bought my last three cars new; my 'Stang and two (separate) cars for the wife, but when buying used, I just settle for getting the make, model and engine/trans combo I want and color is a toss-up because it's just too hard to find specific colors, especially if they weren't too popular to begin with.
Using the net and being willing to travel should help a lot but you may still be disappointed.
Hope not.
Good luck.
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That is the experience I've had when buying my two Mustangs used. I was looking for clean 91-93 GT's with as low of mileage as possible and for under $7000. I was also looking for 5-speeds which failed to happen in both occasions. My color preference was black on black, but that was forced to take a back seat to the aformentioned traits, because low miles, price, and condition were more important.
So, my first Mustang in 1998 was a Red, 1991, Automatic equipped GT with a grey cloth interior and 52,000 miles on the clock. All this for the low low price of only $6700. I had saved up enough cash and she was mine. This was a good deal given the state of the used Mustang market in the Metro Detroit area in the Spring of 98'. I can still remember the freeway ride home. I have never felt better driving a car than I did on that day. That was the car I had wanted since second grade and I have that in writing on one of my cheesy elementary school homework assignments to prove it. Unfortunately it was totaled in Dec of 98', but that is another story in and of it self.
Fast forward to the Spring of 99, and I am in the same boat as I was a year ago, only this time I am up at college and only have a short 5-days of Easter break to find a Mustang. School is 550 miles away and there is no used Mustang market, so I had to wait until I was home. I was looking for the same Black GT, blah, blah, blah with the same features as above, except for the fact that money was a little more tight given the fact I was in college and the accident had "adjusted" my insurance somewhat. And not in a favorable way.
So, I ended up finding a White 1991 GT, AOD again (woohoo), but with the black interior I wanted and the interior was in excellent shape. It had 97,000 one owner miles on the clock, 3.73's, pulleys, and 3-chamber flowmasters for $6200. Again, not too bad given the current Mustang market at the time. And I didn't care. I would not be Stangless for the summer. I was thoroughly addicted by now. Plus, the original owner had kept every single record and reciept since ownership and he had the original window sticker too. And he had the AOD rebuilt around 70,000 miles thrice because he kept taking it back until the bozos got it right and it has been basically trouble free for me. The car currently sports the additional mods located below in my sig. If I ever graduate and get some positive cash flow, I plan on doing a whole bunch of things, but then again who on this site doesn't plan to make modifications when financial conditions permit.
So, to sum up, good luck Unit. I know how frustating it can be to find exactly what you want. And even if comprimises have to be made, at least its a red, black, blue, mystic, white, chrome yellow or even primer colored Mustang and not, well, any color Camaro.
Jeff
BTW, I found both of my Stangs on Autotrader.com back before it sucked. In the second case it paid off b/c the car wasn't in the autotrader magazine yet.