Is this a realistic goal?

I'm a very determined individual… Right now I'm saving up for my dream car, a 2005 Ford Mustang convertible, which by the time I get my license, will be 12 years old (I.e. Hopefully cheaper than it is now)… Right now, I'm 14, a freshman in highschool… I just got a job working two times per week which I will definitely increase hours as I go on… I'm currently earning $8.25 per hour 7 hours per week… I have $400 saved already… In 2.5 years when I get my license, will I able to afford this car and insurance with my job+ Whatever I save along the way (all of my pay)… Right now, an 05 mustang convertible is worth about $8300 which will hopefully drop in 2.5 years… Can working hard and saving my money earn me this car?

It can but please take in to consideration that you'll not only have to keep these jobs to afford insurance but there's also gas, broken parts, unforeseen circumstances, a lot you have to look forward to. Plus there's college or trade school, wherever you go. Not trying to be a downer here but Please keep your head straight when considering this buy. I'd also wait until after high school because high schoolers will trash your car or hit it or something.

I got my first Mustang at 18, an 04 GT. It was expensive, yes, but I can easily afford it and good grades cut my insurance by almost 70%. The thing is as young guys, our insurance is VERY high on these vehicles.