Is Now The Time To Buy A New Mustang?

With all the economic hysteria out there about Wall Street, gas prices, and the credit crunch it’s easy to get lost in the fog and miss out on opportunity. While the news is everywhere that you cant buy a new car because of the credit crunch, Ford is waving their hands in the air saying, “Hello! Hello, over here! We have money to lend and good deals to boot!” At a press meeting this week, Ford marketing chief Jim Farley says that their in-house lender Ford Credit is still able and lending plenty of money at low rates and leasing cars with no problem.

But lets get to the meat of the story here, right now is one of the best times on earth to buy a new Mustang. Ford has un heard of incentives on both 2008 Mustang V6 and Mustang GT models. Keeping in mind that incentives vary from region to region, here in Arizona Ford is offering a $4000 buyer cash on 2008 Mustang GT’s and $3000 buyer cash on 2008 Mustang V6 models.

A look in our Saturday paper has dealers offering this rebate in addition to $3000-4000 dealer discounts for a total of up to $8000 off a new 2008 Mustang GT. That is pretty enticing. For an example we found at our local lot, a new 2008 Mustang GT with a good level of options including the GT appearance group, interior upgrade package, interior lighting package, HID headlights and a 5-speed stick. Pretty loaded the car’s MSRP is $29,860

Take that $29,860 and apply a $4000 rebate plus up to a $4000 dealer discount and that brand new GT is only $21,860. In addition to that, Ford is offering current or recent college and trade school students an additional $500 discount. It would be hard for you to find a used 2007 of 2008 Mustang GT for this. Granted, you are buying a 2008 Mustang GT when the 2009 models are just out and the 2010 is coming next year. But if you are looking for a daily driver at a great price, how can you go wrong?

At least in our region, a quick search of dealership inventories shows a great selection of remaining 2008 Mustangs in stock - they are not all base models in silver. Most are V8 Mustang GT's in good colors with good options. The summer's gas prices have left the best for last. And lets be honest, the V8 Mustangs get almost as good mileage as a V6.

When it comes to financing, Ford Credit is offering ultra low interest rates on the 2008 Mustang as well. Instead of the $4000 rebate, you can choose 0% interest for up to 72 months on the Mustang GT. On a Mustang V6, they are offering 0% up to 48 months, and 0.9% up to 60 months in lieu of rebates. Even if you leave the rebates and choose financing, the dealers are giving these cars away.

In summary, when it comes to cars the old Wall Street adage rings true as well. Buy on bad news, sell on good news. While the media wants you to think the sky is falling and you cant buy a new car, right now is one of the brightest opportunities in decades to get a smoking deal on a new Mustang.

Obviously, you need to get with the Ford website to see what the deals and incentives are in your area. For more information you can check out Ford Direct.