Why the fuck would you ever drive a Mustang? It's not fast, has bad gas milage, and looks terrible. On the same note, why in the hell would you ever own a truck? If you're GOING to get a mustang, at least get a 5.0 and put some decent work into it. A sub-12 second daily would gain attention from me, not some shitty '05 GT.
The truck was used more when I got it. Now I just do a lot of city driving. Once I move from here to go to law school I'll definitely drop the truck for something else (probably a Mustang or similar sporty car).
Right now the biggest deal breaker is the utility of the truck. I can go anywhere (almost literally), carry 6 people and a crap ton of stuff. It is very nice to have when moving/helping people move, going camping, off roading is fun too. In a Mustang I can go fast and get better gas mileage, about 6-7 mpg better in the city, I figure.
re: a 5.0Stock for stock, the new 05 is faster and more efficient. Yeah the 5.0l is cheaper to buy, cheaper to mod, but it also looks like a pile of shit that my dog wouldn't play with (and he likes to play with his own crap). The Fox bodies are boxy, square, dull, and just a very "80s-90s design" (everything from that era sucked design wise).
Man, I'm so close to saying no, but the thought of it just won't leave.
If I buy in a few years it'll be close to the release of a redesign (figure 2010 or so) and then I'll have an outdated Mustang or a really outdated truck. The plus is, my truck has stopped depreciating fast, for now. I suspect it'll drop once the 2009 F150s come out (slight redesign for that year as I understand it).
I dont really use my truck except for camping (which I can still load the trunk down with) and sometimes offroad (we have bonfire parties, sometimes, that are in the desert. But not frequently enough to justify keeping a truck).
I'd be losing $500/yr for about 3 years with the Mustang (assuming I take out a loan and don't just make up the difference with cash)