College freshman with a mustang?
I'm thinking of purchasing a 2006 Ford Mustang convertible. It has about 93,000 miles on it and is a V6. The asking price is around $6,800.
Questions:
Is it worth it? I d like to visit home possibly once a month and it's a two hour drive.
How much would insurance be considering it is a Mustang and I'm 18 years old?(19 in two months if that makes a difference).
Should I look at other cars? Suggestions?
I love mustangs and now is my chance to actually get one. I'm not into racing or anything like that.
Cars often get damaged at college. Driving a cheap car that no one wants to borrow and that you are not worried about is a good idea.
A knife through the hood will be an expensive repair.
At college insurance companies want to know about room mates as they often drive each others cars. A cheap car makes it less likely they will want to borrow it.
A nice cheap to run Honda or such will save you money and problems.
Call your parents car insurance guy & ask him.
For insurance, call your insurance agent. It will be pretty expensive because of the nature of the car. A basic family car or similar will be less expensive.
As for if it's worth it, go to Kelly Blue Book (kbb.com) to see what prices are like for those things. It seems awfully expensive for a 10 year old vehicle.
Make sure you have a mechanic check it out BEFORE you buy it.
If you have to pay the insurance FORGET IT! You're all ready going to probably be up to your eyeballs in student loans, given that I would avoid it until after college.
Buy a mustang when you graduate. Find some beater on craigslist
Seems like a decent price, but there are cheaper options for that many miles
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