So I've been thinking, and I think I'm going to see about financing an EK to help build credit since I'll hopefully be buying a home in a few years and I figure it can't hurt to have more credit history. I know if I get an EK there's no way I can keep it stock, and if I have a modified EK I'll lose interest in the mustang. So I figure I have two options. The first would be to fix the mustang, buy a civic, and sell the mustang privately, the second option would be to trade the mustang in (as it sits) for a civic.

If I fix everything that needs fixed on the mustang in order to sell it for the best price, I'm looking at close to $2,000 in repairs and I'll be lucky to get $4,000 for it, more realistically around $3,000 (salvage title). So there I'm looking at $1,000-$2,000 profit, which would go towards buying the EK.

If I trade the mustang in outright, I might get $1,000-$1,500 for it, so if I trade it in on a $4,000 car I'm looking at paying off a $2,500-$3,000 car which wouldn't be a problem.

Basically, in everyone's opinions, which is the better option? I'd also like to point out that option #1 (fix the mustang and sell it) would require paying insurance on two cars for an unknown amount of time until the mustang is sold.

Either way I plan on removing the 2001 Cobra front bumper and fogs, steeda spoiler, and projectors and replacing them all with stock parts and selling the aftermarket parts for another ~$500 profit, which would go towards the civic.

 

IMO Chris i would just trade it in as is why spend money needlessly to try and sell something? I know you could get more for it fixing it before selling but you could get stuck with 2 cars.

 

That's kind of what I'm thinking right now. I figure if I can take out a bank loan for $5k, find an EK for under $4k, trade the mustang in for $1k, I have $2,000 left to pay on the car and my insurance really won't change (other than adding collision and comprehensive since I'll be financing the car).

Also, civic parts are cheaper so if I start a project (which I have full intention of doing), the project might actually move along at a fair pace.

 

Plus you'll go back to getting good gas mileage.

 

Doooo eeet now! I wouldn't waste the time with the Stang IMO. Return it to stock as much as possible and say good bye.

 

+1

what kind of ek are you thinking of getting? hatchback? it would be nice to see another ek hatchie project on the site.

 

Sell car, buy bus pass, profit!!!

 

ek coupe, sedan, or hatch? this really influences my opinion. it seems as though your mind is made up though, so if the civic is inevitable, i say trade the mustang in , but take all the neato-bits off of it first.

 

im not gonna give my opinion because you are chris and you canty never make up your damn mind, this thread/poll is pointless

 

^That