So in a bit of dilemma at the moment. I test drove a 2016 Mustang GT the other day and loved it and am thinking of buying it.
The thing is I currently don't have all the cash and would have to sell my 2010 BMW 323i and use the Citibank Balance transfer credit card "cheque to self" option to fund a part of it.
I did have a few questions though:
1) I am worried that the Mustang will not hold its value and if I try selling it after 5 years or so I will lose a lot of money. Does anyone have any idea about the standard depreciation on a mustang? Also since the new 2018 mustang is coming out in 6 months how much money would I be losing approximately? Should I hold out till then?
2) I am not exactly sure how much the servicing and maintenance will cost me?
3) The dealer I went to see the car wants to sell it for $50k. Is that reasonable?
4) I have gotten quotes from bingle, aami, coles, woolworths, allianz, real insurance, gio, rac. Right now bingle's the cheapest at $1300 (A bit high probably due to me being 24). Its similar to what I am paying now for my BMW 323i. Are there any other insurance companies that can cover me and are cheaper? Also is bingle reliable?
Thanks a lot for the help everyone!