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Chronic Car Buyers Anonymous

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Comments

  • fintailfintail Posts: 32,890
    Wow, that was quick. I almost like to pay off a car at least over a couple years - prevents any buyers remorse rash decisions, as I don't want to dump something unless it at least has a lot of positive equity. You've got plenty in that Ram now :shades:
  • jpp5862jpp5862 NCPosts: 296
    Sorry, I was behind on posts and saw the mileage request later on. :)

    135,100 when I bought it. 136,900 now.
  • xwesxxwesx Fairbanks, AlaskaPosts: 8,267
    The few times I have had the misfortune of being in a large city during rush hour(s), I had no problem with the manual transmission. I spent three hours at a crawl in Chicago back in 1999 with my '69 C20, and I came to a complete stop only once (when I first hit the jam) in that time. The rest of the time I left it idling along, at about 5mph, and didn't need to press the clutch hardly at all. The vehicles around me came to complete stops hundreds of times, varying from 0 to perhaps as fast as 20-25 mph in short bursts. I just kept the same speed (I would increase speed once in a while if the gap grew substantially) and let the gap in front of me grow and shrink as it would.

    I guess I just don't understand the city driving mentality, but for me those situations are pretty easy to handle, albeit frustratingly slow.
  • fintailfintail Posts: 32,890
    edited January 2013
    It's tough. I've had my current daily driver since 06. I am pleased with it, but I still browse a lot, and as time goes by, might be getting too used to it. I don't see much that could lure me away though. I am waiting to see any sweetheart leases on leftover 2013 E-class, now that a facelift is coming - there will be a lot of excess stock, I think. Also wanting to see if Lexus will bring back the Sportcross. There's nothing new with 4 wheels I could buy outright that I actually want, so I will have to lease or finance. At least with a bike, I would just buy it. I probably should save money and drive a more mainstream car, but I am used to premium materials and performance, even if not in a brand new car.
  • jpp5862jpp5862 NCPosts: 296
    Ironically that's what I did by getting the '02 Pathfinder last year. Out of all the cars I've ever owned it was hands down my favorite. I do ride it a lot, but at 14 mpg around town it costs a lot more to operate, plus it's going on 11 years old with 137k on it, so not smart to have it as my only car. Maybe if I had kept my original and knew it's history I'd be more apt to have it as my primary, but for long trips, etc., it's nice to have something else. Ironically I was telling the better half the other day that I like the Pathfinder so much I don't want to wear it out driving it all the time.

    I'm content with the G37x, keeping it after the lease is an option, but I want to check out the Q50 and the new IS, possible contenders. Of course if money was no object I'd spring for a Tesla S. :)
  • jpp5862jpp5862 NCPosts: 296
    I've leased for years, obviously having a new car every so often appeals to a chronic car buyer, but as I get older I'm thinking more about being smart with my money and focusing on things like being mortgage free, retiring earlier, etc. So I'm toying with buying something outright next time, like you that puts me in a more mainstream car, not necessarily a bad thing....but this is really the only thing I spend money on so sometimes I justify my more expensive taste that way. Plus I feel like if I'm going to buy something and keep it for several years I should really love it, hard to say if I'd really love an Accord or Fusion that much. :)
  • ateixeiraateixeira Posts: 72,587
    Just heard the new Q50 will get a 2l turbo.
  • fintailfintail Posts: 32,890
    Leasing a highline car can be smart - you're always under warranty, and so many of the leases are subsidized, often the payments are less than (real world) depreciation alone. But, it is still usually more than a normal car. The Accord is one that comes to mind as something I would look at, as it seems to have huge equipment for the money, and might even be over-engineered as Honda tries to rebuild image. It's also decent looking. I definitely prefer it to Camry, Koreans, etc.

    It'll be hard for me to take on a payment again though, been years since I've had one. It'll mean less vacations, lower rate of savings, etc. Usually looking at cars cures me. I looked at the ATS a few weeks ago, seeing the nice ones at 50K made me appreciate what I have.
  • xwesxxwesx Fairbanks, AlaskaPosts: 8,267
    I almost like to pay off a car at least over a couple years - prevents any buyers remorse rash decisions

    That's a good point. Also, with interest rates so incredibly low right now, it's almost like free money. That won't last forever, and I'm sure the end is coming soon, so better to keep the cash for when borrowing money is a painful proposition. ;)
  • andre1969andre1969 Posts: 21,578
    I'm wondering if paying the truck off as quickly as I did will come back to haunt me? It almost seemed too easy, like I didn't have to work for it.

    Back when I bought the Intrepid, I had a proud sense of accomplishment when I made its 60th payment, and it was free and clear. And, I think it might have made me appreciate the car more. Back then, I got 0.9% financing, so it made sense to not pay it off early.

    With the Ram, I got an additional $500 discount for financing it through them, but the rate they got me was 3.99%, which wasn't so hot. But, my intention was to pay it off ASAP, anyway. If I hadn't done the $500 discount, I'm sure I could have gotten a better rate. I just checked my credit union, and they're showing 1.49% for 36 mo or less, 1.99% for 37-63 mo.

    Hmm, maybe I should have gone through my credit union. 1.49% or even 1.99% is almost free! But, it's over and done with, now.
  • sandman_6472sandman_6472 Coral Springs, FLPosts: 2,576
    "but as I get older I'm thinking more about being smart with my money and focusing on things like being mortgage free, retiring earlier, etc." That's a very good way to look at things actually. Did these things and buying econocars has helped us reach these goals a lot sooner in our lives. As much as I'd like to have a new luxo car in the garage right now, driving the '06 Civic and just keeping it makes sense. Had a friend come over yesterday I haven't seen in a long time and as we walked out of the garage, he asked me when I got the new car. He was amazed that it's going on 7 years already that I've had it. As we compared notes on our rides, he mentioned that he'll be looking to trade within the next year and I told him that barring an accident or major problem, I'll probably be checking out a 2017 or 2018 at the rate I'm going. But I do know that we'll be replacing the Mazda with a 2014 model as I don't want to press our luck.

    The Sandman :) :sick: :shades:

    2014 Hyundai Tuscon SE/2005 Mazda 3s/2008 Hyundai Accent GLS/2009 Nissan Versa SL hatch

  • corvettecorvette United StatesPosts: 4,001
    edited January 2013
    Yeah, I also posted mine before I knew about the mileage request.

    01/12/12 corvette 2003 BMW 540i 85k
  • corvettecorvette United StatesPosts: 4,001
    I think some credit unions will still allow you to do a cash-out refi on a vehicle. You could take whatever they will loan you on the truck at 1.99% and use it to pay down the HELOC.
  • fintailfintail Posts: 32,890
    When I bought the E55, I financed for 60 months, but paid it off in half that. The sense of accomplishment is nice. Those rates you mention are insanely low. I think my rate was about 6% back in 06 (used car, lengthy term, I didn't shop around either).

    When I buy a bike, I am thinking of using a line of credit offered by a credit card I have. I can borrow up to 20K for a 2% fee, and something like 14 months with no interest. Say I spend 6K, it would cost me $120, and I would pay it off in no more than 6 months. The bonus is that (I think) I'd get air miles for it, 6000 miles for $120 is not bad.
  • dieselonedieselone Posts: 5,627
    When I buy a bike, I am thinking of using a line of credit offered by a credit card I have. I can borrow up to 20K for a 2% fee, and something like 14 months with no interest. Say I spend 6K, it would cost me $120, and I would pay it off in no more than 6 months. The bonus is that (I think) I'd get air miles for it, 6000 miles for $120 is not bad.

    That is a good deal. Just don't accidentally miss a payment or make the monthly minimum, then they usually charge a nasty interest rate with back interest.
  • tjc78tjc78 JerseyPosts: 5,023
    this meant the length of the Schuylkill expressway

    I did that commute for a while. It would make the Pope curse and punch babies.

    1999 Chevy S10 / 2004 Merc Grand Marquis / 2012 Buick LaCrosse

  • fintailfintail Posts: 32,890
    Yep, there are lots of rules in the fine print. I wouldn't borrow more than I could instantly pay off, I'd just be doing it to get some cheap miles and rent someone else's money for free :shades:
  • dieselonedieselone Posts: 5,627
    I'd just be doing it to get some cheap miles and rent someone else's money for free :shades:

    I do that quite often too.
  • tjc78tjc78 JerseyPosts: 5,023
    When big is just not big enough:

    Ford Centurian

    1999 Chevy S10 / 2004 Merc Grand Marquis / 2012 Buick LaCrosse

  • nyccarguynyccarguy Stamford, CTPosts: 7,093
    Fintail - your E55 is an exceptional car. I just can't see anything out there that would make it worth your while to take on a payment. Maybe when the current crop of C63s depreciate nicely;)

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

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