** I like to buy new for the full 3/36 warranty and the depreciation is the
** price I pay for it. Two years ago I was very interested in the Roush Stage
3
** and had geared my finances for the future purchase of one, then the '03
** Cobra came out and offered a similar package for $15,000 less. I had been
** making double payments on the 2000 GT, so the Cobra payments are not a
** burden. Although I did get suckered into paying sticker for the Cobra, I
** should have did a bit more research. I was pissed 10 days later when Ford
** offered $2500 cash back or 2.9 APR which really devalued the car for the
** short term, but 3 years from now it should retain it's value. If the '06
** Mustang Cobra is all the rumors make it out to be, I have no other option
** but to buy one. I'm just worried that Ford will not use the name "Mustang
** Cobra" in the new body style since Ford and Shelby are building a new
** "Cobra". I'm guessing it will be called a "Boss 281" or "KR500", for 500
** horses, which will not be a problem as long as their are no silly graphics
** or stripes. I like the Roush Stage 3 and the Cobra becuse they are clean and
** simple, not "Look at ME" like a Saleen.
As long as Ford allows dealership mechanics to service that warranty, it's not worth diddly to me. I like the idea of owning a car that I don't have to constantly fix, however I've bought $300 cars in the past that accomplished that. The winter beater I'm driving now is incredibly reliable, though I admit I paid $1200 for it, which was too much.
I'm with Clark Howard on this line of thought. If you're going to drive it
10+ years, it's worth purchasing new, otherwise go with a 2-3 year old, very well maintained car of the make/year/model that you wanted to buy new in the first place. If one saved their nickles for 3 years after a 'new model' came out, not only would one be able to pay cash and avoid finance charges altogether, but one would be able to buy for about 1/2 of what it sold for new. A 3rd party warranty can be bought seperately I guess, for those who think it might croak early.
-JD