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Chronic Car Buyers Anonymous

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Comments

  • breldbreld Posts: 1,135
    Finally got around to posting my 530i on cars.com (I only had a posting on a BMW forum to date) yesterday morning, and had a legitimate call on it within hours.

    Guy came by last night to look at it - definitely an interested buyer who currently owns a 1998 535i. He's a "stick" guy, so an ideal candidate for the car. Unfortunately, he offered almost $3k less than the list price (and almost $2k less than what I was ready to take). I wouldn't call it a lowball offer, as he was going off of KBB values - but I'm in no rush and am willing to hold out for more.

    Still, I found myself a bit disappointed, as the active shopping for a replacement was seemingly within grasp. :D

    2014 Passat - 2010 328xi M-sport wagon manual - 2008 A3 - 2009 Ody

  • fintailfintail Posts: 32,941
    The old saying remains true - you can't take it with you. I hope that encourages someone to make a purchase :shades:
  • jayriderjayrider Posts: 3,203
    nicely said, finman -- encouraging other folks to spend their money is what this forum is all about,
  • michaellmichaell Posts: 4,300
    The old saying remains true - you can't take it with you. I hope that encourages someone to make a purchase

    My folks did that 10 years ago. The last new car they had bought was in 1973 - then it was a succession of used cars. Mom finally put her foot down and wanted one last "new" car for them.

    They bought a 2003 Hyundai Sonata GLS V6. When I visited them in March of this year it had all of 29K on it.

    My folks have established a trust for all of their assets - when they die, everything will be sold and placed into the trust, then divided out between my sister and I and the 4 grandchildren.
  • ghenry0007ghenry0007 Posts: 2
    I have a 2001 Ford Ranger that I got a few months back because I was in a bind with my Grand Cherokee. It just would not stop breaking down on me. But now I'm in a bit of a better financial situation, and I am now paying payments on the truck. It needs approximately $1500 in repairs (suspension, exhaust, regular maintenance that wasn't kept up to date), but now I have enough money to get even a brand new car. I'm just looking for something new-ish, something with <100,000 miles. My question is, should I try to trade my truck in with the interest and balance left on it, or pay off the loan and then trade it in?
  • qbrozenqbrozen Posts: 16,911
    It makes zero difference.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 Town&Country

  • graphicguygraphicguy SW OhioPosts: 6,919
    Q...ghenry...it might make a difference if you plan on attempting to finance the new vehicle. Debt to income ratio has an effect on credit scores, and in turn, interest rates.

    So, paying off the old loan plus a hefty down payment will should affect the loan terms.

    But Q, normally I'd agree with you that it shouldn't make any difference.
  • stickguystickguy Posts: 13,602
    what will make a difference on a hi mile 13 YO Ranger is to clean it up and sell it privately. you will make quite a bit more that way, since your trade in value most likely is going to be next to nothing.

    2013 Acura RDX (wife's), 2007 Volvo S40 (when daughter lets me see it), 2000 Acura TL (formerly son's, now mine again), and new Jetta SE (son's first new car on his own dime!)

  • abacomikeabacomike South FloridaPosts: 3,150
    edited May 2013
    nicely said, finman -- encouraging other folks to spend their money is what this forum is all about,

    Excellent point - chronic car buyers fuel our economy by buying cars from manufacturers who, in turn, hire workers and purchase components to produce the automobile. The objective of this forum is to keep the readers current on new cars and associated technologies in order to stimulate car purchasing.

    There is no doubt that most of us are Chronic, if not manic, car buyers. The smell of a new car is invigorating, tantalizing, hypnotic, and...!

    I just took delivery of my new 2014 E 350 Sport Sedan and have already opened a new bank account to save for my next one. A 2016 which is supposed to be a complete redesign. i almost can't wait to see it and drive it! Without doubt, I must have some serious flaws or deficits in my personality traits. I'm obsessive compulsive - to be sure. But aren't we all when it comes to new car buyin?

    2014 Mercedes Benz CLS 550 - best car ever! 2nd best car ever, my 1967 Corvette Stingray Coupe with 435 hp.

  • michaellmichaell Posts: 4,300
    I'm obsessive compulsive - to be sure. But aren't we all when it comes to new car buyin?

    Some of us like to kibbitz more than buy, though I've done my fair share over the years.
  • abacomikeabacomike South FloridaPosts: 3,150
    Some of us like to kibbitz more than buy, though I've done my fair share over the years.

    Kibitzing is the very first step in the process called "new car buying!" Without kibitzing, who would get "turned on" to new car buying.

    2014 Mercedes Benz CLS 550 - best car ever! 2nd best car ever, my 1967 Corvette Stingray Coupe with 435 hp.

  • qbrozenqbrozen Posts: 16,911
    So, paying off the old loan plus a hefty down payment will should affect the loan terms.

    Well, of course, I assume that whatever money he is willing to part with, he would still part with when buying the new vehicle. Whether that happens before the deal or during the deal shouldn't matter. As for debt-to-income, they take that trade-in into account (as in that loan is coming off your report). Credit scores are slow to update, so unless you wait many month after paying off the vehicle, it won't matter.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 Town&Country

  • qbrozenqbrozen Posts: 16,911
    1'er is pissing me off. I'm seriously considering dumping it. As much as I adore driving the car, it seems to be broken ALOT.

    This seems awfully cheap. Manheim is acting up, so I can't confirm for sure, but I think they are in the $28k range at auction.

    I can't think of many affordable (under $25k) cars that I would even replace the 135 with. I'm not going back to FWD and I'm not going back to anything with 0-60 over 5.5 secs. Also needs a livable back seat. And I'd want it to have under 45k miles. The lower the better, of course.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 Town&Country

  • qbrozenqbrozen Posts: 16,911
    Yup, $28k for a supercharged, so that one makes me wary.

    Also found this place that has several 2010 5.0 models, which I'd probably prefer ... but, again, these are all listed right at auction value. I don't know what is up with that.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 Town&Country

  • corvettecorvette United StatesPosts: 4,007
    That's quite a change from a 1-series! What's broken on yours?

    I know you said no FWD, but the 2015 GTI looks pretty sweet to me.
  • qbrozenqbrozen Posts: 16,911
    edited May 2013
    I'm now contending with my 4th separate limp mode issue. I haven't had time to fully assess the situation, but the computer is telling me it is a vanos sensor ... however, I replaced both sensors 2k miles ago. There is a possibility it is something much much more serious. :cry:

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 Town&Country

  • qbrozenqbrozen Posts: 16,911
    6 liters.... :blush:

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 Town&Country

  • ateixeiraateixeira Posts: 72,587
    Give up the 0-60 requirement and get an FT86.

    Your average speed will be higher given it won't have to stop for break downs. :shades:
  • qbrozenqbrozen Posts: 16,911
    I'd rather get a WRX, given the choice in the subie showroom.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 Town&Country

  • laurasdadalaurasdada Posts: 2,493
    The XK on the site mirrors mine, exterior-wise. My interior is charcoal, with the burled walnut wood, however. And mine is an '09 with 10k fewer miles and the low fuel warning light is not on... :) The price, however, makes me sad as a future seller/trader-inner of an XK.

    I like the Vapour Grey color of the first XF. It won't show the pollen as much as black!

    '13 Jaguar XF, '11 BMW 535xi, '02 Lexus RX300

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