Thought Experiment

"Jayhawk Jake" (jayhawkjake) 01/11/2019 at 11:08 • Filed to: None

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As you all know, I own a 2015 Mustang GT, premium with performance package and a 6 speed manual.

According to NADAguides, it’s worth about $25,000 on trade with the 59,000 miles it has.

What you may not know is thanks to Lightstream, I have an unsecured loan against it. Meaning I owe them money, but I hold the title to the car. That means that if I decided to sell or trade my Mustang, I have the ability to leave that loan alone and keep paying it. It has a relatively low interest rate, the payments are comfortable enough that I pay extra each month, and I’ll have it paid off in the next couple years.

Every now and then I wonder about trading my Mustang for something else, straight across. It wouldn’t affect me at all financially as I’d just keep paying the same loan off.

Each time I consider it though I can’t come up with another car I’d want at that $25k price point.

So, Oppo, what’s the best car I could straight-trade a Mustang for?

Dr. Zoidberg - RIP Oppo > Jayhawk Jake 01/11/2019 at 11:11

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28.5 Paseo convertibles

Arch Duke Maxyenko, Shit Talk Extraordinaire > Jayhawk Jake 01/11/2019 at 11:14

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A Camaro SS 1LE

CarsofFortLangley - Oppo Forever > Jayhawk Jake 01/11/2019 at 11:16

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2018 Manual Kia Forte “superleggera” (no ac or options).

Only 2900 miles...

Tripper > Jayhawk Jake 01/11/2019 at 11:17

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A WRX, or GTi. However, if you’ve got a Mustang, you probably don’t want either of those. I  also got an unsecured loan for the 1975 BMW I just bought and it was less than 25k. Now’s your chance to buy something crazy, haha.

Future next gen S2000 owner > Jayhawk Jake 01/11/2019 at 11:21

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Coke....a nd Vegas....and ladies of the night.....Let it ride on black baby!

SPAMBot - Horse Doctor > Jayhawk Jake 01/11/2019 at 11:22

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How was dealing with Lightstream? I briefly thought about them as an option when I bought my car but the reviews seemed like a mixed bag over on FChat. It seemed though, if you had a regular job (not self employed, etc.), a low debt/income ratio, and excellent credit, they were an easy option.

As for the original question, I’ve been looking at cars in this 25-35k price range lately, and I usually end up either at a Mustang or an XF.

bob and john > CarsofFortLangley - Oppo Forever 01/11/2019 at 11:22

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wow you REALLY dont like that thing do you?

KingT- 60% of the time, it works every time > Jayhawk Jake 01/11/2019 at 11:23

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Camaro or Challenger are obvious choices. I searched in a 200 mile radius of KC and found some other V8 options , all under $25K all under 40K miles:

1. DOdge Charger R/T

https://www.cars.com/vehicledetail/detail/759132649/overview/

Shameless Plug reviewed one recently and I really liked it- https://oppositelock.kinja.com/2018-dodge-charger-r-t-5-7-test-drive-review-1831461359

2. 2013 Hyundai genesis 5.0 R Spec

https://www.cars.com/vehicledetail/detail/755573012/overview/

3.2012 Lexus LS460

https://www.cars.com/vehicledetail/detail/713861454/overview/

4. 2008 base model Corvette

https://www.cars.com/vehicledetail/detail/760506551/overview/

6 cylinder option- BMW 335i

https://www.cars.com/vehicledetail/detail/759869355/overview/

bob and john > Jayhawk Jake 01/11/2019 at 11:24

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knowing what you’d want with the car...maybe an old S4 (maybe too grown up) or an AMG merc (german mustang)

a BMW 335 maybe.

A NC miata for DD and some motorcycle :)

CarsofFortLangley - Oppo Forever > bob and john 01/11/2019 at 11:27

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I mean, it is basic ass transportation. But no, can’t say that I do.

(If jayhawk is reading this, it is soooo awsome).

HondoyotaE38: A Japanese and German Collab...wait a minute > Jayhawk Jake 01/11/2019 at 11:27

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2013 Honda Fit Sport and an NA, NB, or N C Miata . Fun/practical and fun

His Stigness > CarsofFortLangley - Oppo Forever 01/11/2019 at 11:28

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Arrivederci > Jayhawk Jake 01/11/2019 at 11:29

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Given the way things have gone around here recently, GTI :)

E90M3 > Jayhawk Jake 01/11/2019 at 11:29

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A high mileage E9X M3, no wait, that’s a terrible idea. 

DAWRX - The Herb Strikes Back > Jayhawk Jake 01/11/2019 at 11:32

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I think pre 2010 M3s with some miles go for around that these days.

OR you could go for the purist experience and get a Cayman S. However you’ll probably give up some modern features and tech. This is May favorite option though

Link below :

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=495159781&zip=67259&referrer=%2Fcars-for-sale%2Fsearchresults.xhtml%3Fzip%3D67259%26startYear%3D1981%26vehicleStyleCodes%3DCOUPE%252CSEDAN%26incremental%3Dall%26endYear%3D2019%26modelCodeList%3D911%252CCAYMAN%252CPOR718CAY%252CM3%252CM5%26makeCodeList%3DPOR%252CBMW%26transmissionCodes%3DMAN%26listingTypes%3DUSED%26sortBy%3DyearDESC%26maxPrice%3D26000%26firstRecord%3D0%26marketExtension%3Don%26searchRadius%3D300&listingTypes=USED&startYear=1981&numRecords=25&maxPrice=26000&vehicleStyleCodes=COUPE%2CSEDAN&firstRecord=0&endYear=2019&modelCodeList=911%2CCAYMAN%2CPOR718CAY%2CM3%2CM5&makeCodeList=POR%2CBMW&searchRadius=300&makeCode1=POR&modelCode1=CAYMAN&clickType=listing

benjrblant > Jayhawk Jake 01/11/2019 at 11:32

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I hear GTI’s are fun.

someassemblyrequired > Jayhawk Jake 01/11/2019 at 11:32

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Just trade it for a new GTI already and get with the program man.

Sovande > SPAMBot - Horse Doctor 01/11/2019 at 11:33

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I have a loan with then as well. It was painless, quick and easy and I recommend them.

B_dol > SPAMBot - Horse Doctor 01/11/2019 at 11:34

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Light stream is a great lender and super easy to deal with - I have financed two used car loans with them in recent years. No hassle setting up, stellar rates and quick $$ transfer.

Milky > Jayhawk Jake 01/11/2019 at 11:35

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IDK, a Mustang GT is already the best value, so fuck it.

*manuals under 50k miles

B_dol > Jayhawk Jake 01/11/2019 at 11:36

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Try paying it off first, that will instill some discipline and help you decide if you really want a new car. Also, turo or friend’s cars are a great way to get new experiences without buying!

SPAMBot - Horse Doctor > B_dol 01/11/2019 at 11:40

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Sweet! this is good to know for future plans. Their rates are certainly appealing.

SPAMBot - Horse Doctor > Sovande 01/11/2019 at 11:41

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Awesome. I will definitely keep them in mind next time I buy a car. Hopefully their rates stay low haha

Wacko > Jayhawk Jake 01/11/2019 at 11:43

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you need the next new mustang

now lighter than the old one

Mini Guy- Now has a 4Runner > Jayhawk Jake 01/11/2019 at 11:43

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A mini

Chuckles > Jayhawk Jake 01/11/2019 at 11:43

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In what way would you want your next car to be different? Faster? Larger? More fuel efficient? More nimble? What’s your motivation to swap the Mustang?

I wouldn't bother trading it for anything unless you can definitely say "I want my next car to be more ______"

LongbowMkII > Arrivederci 01/11/2019 at 12:08

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Since all the FiSTs have been traded in the market should be flooded in.

DipodomysDeserti > SPAMBot - Horse Doctor 01/11/2019 at 12:17

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I have a loan with them as well. Very easy to work with, and everything has gone smoothly.

haveacarortwoorthree2 > Arch Duke Maxyenko, Shit Talk Extraordinaire 01/11/2019 at 12:22

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This is a bad idea, and you should feel bad for suggesting it! :)

themanwithsauce - has as many vehicles as job titles > Jayhawk Jake 01/11/2019 at 12:49

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25 mid 90s V6 mustangs for your own one-make beater series.

Or a lightly prepped track car from the late 90s/early 2000s. Nothing that would compete at the professional level, but certainly some amateur level stuff. Find a guy who wants a street car as he gets out of the racing game and bam, there you go.

That 510 is on ebay for 25k. It’s not a street car, but just throwing some things out there.

G_Body_Man: Sponsored by the number 3 > Jayhawk Jake 01/11/2019 at 13:29

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For $25k the Mustang probably wins. You could get a C63 with the head bolt issue already fixed, or a later fifth-gen Quattroporte, or a Cayman and they’ll all be fairly reliable but they’re all  worse all-rounders than the Mustang GT .

punkgoose17 > Jayhawk Jake 01/11/2019 at 13:44

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A 1986 to 1993 Supra and a small swimming pool so you can swim in all of your extra cash.

shop-teacher > Jayhawk Jake 01/11/2019 at 14:12

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Just keep it. The grass isn’t always greener.

I know, boring answer.  I can’t think of anything better for that kind of money though.

JoshROOSTER > Jayhawk Jake 01/11/2019 at 14:44

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Golf r is the answer!

At least it was for me when I got rid of my 2015 mustang.

citrus > DAWRX - The Herb Strikes Back 01/11/2019 at 15:01

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Just fyi, you can cut off everything after the listingId number and the link will work:

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=495159781

Those huge urls are brutal trying to scroll on a phone lol

Jayhawk Jake > CarsofFortLangley - Oppo Forever 01/11/2019 at 16:46

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Already did the Forte thing, don’t need to again

Jayhawk Jake > SPAMBot - Horse Doctor 01/11/2019 at 16:50

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Amazing. I hit the checkboxes you mention, I have really good credit, full time job at a corporation, debt to income is low. I think it was like a 10 minute application online and I was approved. The only complication I had was they needed a Mastercard to confirm my identity (IIRC), and at the time I only had Visa, Amex, and Discover. It took a few minutes to find an actual phone number (they really try to keep everything online), but once I did I had a really nice and helpful person on the phone who sorted it out.

For buying a car, it could not have been easier. They literally just deposited the money into my bank account a few days later and I wrote a check. I set up to pay recurring online, their website is super simple, and they give you the entire amortization schedule based on your current payment. 

Jayhawk Jake > DAWRX - The Herb Strikes Back 01/11/2019 at 16:52

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Man, I want to like the Cayman so much but it feels like it would be such a gut-punch to go from my 2015 car with all its creature comforts and a 435 horsepower V8 to a 2006 car with half as much power at the same price.

Jayhawk Jake > Chuckles 01/11/2019 at 17:01

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I don’t really have motivation to swap other than being different for different sake. It’d be nice to have lower running costs, but I don’t want to give up performance for it necessarily. Something smaller, or maybe even more ‘special’ would be nice. 

Jayhawk Jake > B_dol 01/11/2019 at 17:01

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I don’t actually plan on getting rid of it. It’s too hard to find a substitute and I like it too much. I still would like to replace it with a GT350 soon as I can afford to. 

Jayhawk Jake > KingT- 60% of the time, it works every time 01/11/2019 at 17:04

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1. No, the 5.7 is a boat anchor. I also don’t like the way the Charger looks that much, and wouldn’t get a Challenger for myself (too big). I do love the Scat Pack motor though

2. Nah, too boring. I like Hyundai, I like what Genesis is doing, but I’m not a luxury sedan person

3. See previous comment RE luxury sedan

4. I used to like Corvettes more than I do, however I wouldn’t ever ‘settle’ for a Corvette. C6ZR1 or bust

5. I think I prefer the 135/M2 or the Z4 in the Bimmer suit. 

Jayhawk Jake > Milky 01/11/2019 at 17:05

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I want to drive a Z4 coupe . I think it’s a cool looking car.

DAWRX - The Herb Strikes Back > citrus 01/11/2019 at 17:18

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Awesome man thanks for the tip! I posted on mobile and couldn’t find the option the hyperlink so I gave up haha

DAWRX - The Herb Strikes Back > Jayhawk Jake 01/11/2019 at 17:24

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I’m right there with you. It’s hard to suggest for anyone to do that, but I’ve heard so many good things about the Cayman S o n line and in person that it’s hard NOT to suggest.

I had a former coworker who pretty much only had Porsche’s (911 Cabrio , Cayman replaced by a C ayenne when it got totaled) and he said his favorite car he ever had was a Cayman S he had previously b ecause of how well balanced it was. And he really regretted trading it in. I’m sure he was very biased...but still...

I wouldn’t think of it as a trade down, just switching to to a different tool. Sledgehammer to scalpel. ¯\_()_/¯

Milky > Jayhawk Jake 01/11/2019 at 17:33

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Me too. Im happy I went with the reliable option but I do  wonder what it would have been like with 85 % of the driving thrills but +50% comfort.

SPAMBot - Horse Doctor > Jayhawk Jake 01/11/2019 at 18:07

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That honestly sounds great and much more simple than the process I went through. No regrets on the way I went about my loan, but I will try LS next time. It being unsecured sounds great if you think you might want to bail in a year or two as well. I think most the negatives I heard were from people that relied most on supplemental income that was harder to verify.