Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/25 for details.
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/25 for details.
Options
Chronic Car Buyers Anonymous (Archived)
This discussion has been closed.
Comments
Now that makes sense! A nice 40 ft. fifth wheel with 5 slides will be perfect! :P
Carry on!
Mark156
Just checking.
I'm kidding. Of course you need a bigger travel trailer boat car truck house...
As a friend of mine likes to observe: Where would the global economy be if the American consumer behaved responsibly?
-Mathias
who is in danger of losing platinum status.
Since the six-car binge of '06, I've been driving my reg cab chevy for 7 months straight... somebody help me.
Just checking.
Yup, that's the one. We've owned it for over 2 years now, bought it March 11, 2005.
IF we do buy another one it'll be used, I can't stomach the depreciation! The one we want is a Keystone Larado 32RS, not very extravagant, but its nice, quad bunks, one or two slides, good length. Ours has one set of bunks, no slides, and is 24'.
who is in danger of losing platinum status.
Since the six-car binge of '06, I've been driving my reg cab chevy for 7 months straight... somebody help me.
Let's see, 6 cars in 06, you need to top that with 7 cars in 07. Its already May, you better get buying!
Honestly, I've been reading the CCB forum since inception, and I honestly believe your "long term" car would be a turbocharged Subaru Forester. It has all the positive car attributes you've mentioned in the past, with none of the downside.
FWIW, minivans don't get that great of gas mileage. My wife's new T&C gets about 18-19.
25 NX 450h+ / 24 Sienna Plat AWD / 23 Civic Type-R / 21 Boxster GTS 4.0 / 03 Montero Ltd
As far as the Forester turbo, does that require premium gas ? After a Jetta 1.8t, i have sworn off paying extra for premium.
Whoops, I sound like a self-enabler.
25 NX 450h+ / 24 Sienna Plat AWD / 23 Civic Type-R / 21 Boxster GTS 4.0 / 03 Montero Ltd
of course, the argument is, "why get the higher performance vehicle if you won't feed it properly." Well, the answer is that losing a few horsepower on the higher performance model still gives you a much faster vehicle than the base model.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Plus it was nice having that extra umph when needed.
One of the reason I had to get rid of it was my neighbor came home one day with a Subaru WRX STI. Talk about getting one upped in a big way. So I went out and went bigger with an Olds Aurora.
I know,I know, I got issues.
Also various incentives on Outback & other models. I'm looking at the pics of the OUTBACK 2.5 XT LIMITED wagon on the subaru website--they show a "Newport Blue Pearl" that looks great from the pics. I hear the stick shift is great, the auto. not so much. Got to go out & test drive some subarus.
And, This is a different kind of support group. In most support groups they try to talk you out of indulging in.....whatever.....
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Subaru has been hit by "the Toyota way" and it is very challenging to find a manual transmission turbo wagon, and the Legacy wagon is gone for next year. If you like what you see, now is the time.
That said, I agree with everything you said
I can tell a BIG difference with my Maxima if I don't put 93 octane into it. It's the difference between driving a Taurus and getting my butt lifted off the seat when I mash the throttle.
Here's a pretty good article.
chemist at GM says the difference won't be felt. Porsche engineer says it won't hurt the car. You're not the maxima owner in that article, are ya? ;b
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
25 NX 450h+ / 24 Sienna Plat AWD / 23 Civic Type-R / 21 Boxster GTS 4.0 / 03 Montero Ltd
(Think of it as "foreplay"). :P
It kind of reminds me of the Honda Civic wagon with "Real Time" 4wd from the late 80s early 90s.
way behind in some ways to the new RAV & CRV.
I don't care for the CRV styling at all, the RAV I go back and forth, but it certainly doesn't blow me away.
The interior looks dated even compared to other subies I checked out recently. I'd hold out for the updated new model, if possible.....
Yeah the Legacy "grew up" with the '05 redesign, and the Impreza has been warmed over once or twice already IIRC, but the Forester has been left pretty much alone.
That really would be the best of both worlds, a nice car for daily driving and the Durango when I need it.
Maybe next year, lol.
25 NX 450h+ / 24 Sienna Plat AWD / 23 Civic Type-R / 21 Boxster GTS 4.0 / 03 Montero Ltd
For most of a year I was a good boy, and knocked out a few things in what was my 4th year in the last 14 that I had more cars than payments.
Then came the spring of 2007... and now that I was taking a road bike with me to a few places, a 2-door Accord was really getting to be a pain. Most of what I shopped (Forester, RAV4, fleeting glances at the WRX wagon, RDX and CX-7 seemed too pricey, couldn't find an Outback XT near me) had represented some kind of compromise, and I was about to table the whole thing for at least a few months. But a running buddy of mine said I should take a look at a demo that my local Volvo dealer had.
So today I traded the Accord on an '06 V70 2.5T. Let's hope I don't come back here too seriously! It's my first foray into Euro cars.
Here's a pretty good article.
chemist at GM says the difference won't be felt. Porsche engineer says it won't hurt the car. You're not the maxima owner in that article, are ya? ;b
I've driven the same Maxima for over 4 years now. The car, frankly, runs like crap on 87 octane. The engine doesn't even purr at idle like it does on 93, it kind of "hiccups".
I did look at V70 before I wound up with 07 mitsu outlander. Only thing I couldnt stomach was that V70 prices are high especially here in canada.
Its a nice car though.. if you dont mind sitting low and have a huge turning radius. Also, is the T5 more powerful than 2.5T? I still dont get that since T5 is 2.4 with turbo.
I'm not so excited about the feeling I get when I am sitting up high. I like to sit lower, it makes things feel more stable to me. The T5 has a higher pressure turbo (more boost) than the 2.4T.
Going to drive the mighty 5-series "Touring" to So. VT tomorrow to look at some properties. Would be fairly radical to move to a small VT town from the 'burbs of Boston. And R.E. is suddenly hot again in New England, so you have to be nimble. And make fast decisions.....not so good for an "eternal shopper".
Sorry for the OT post--oh wait--this 1906 craftsman style house I'm going to see has a big 2 car garage, so I'd have room for a 2nd car..... :shades:
Honda CR-V EX-L (is that the trim with leather, can't remember?)
Honda Odyssey EX-L
Honda Accord EX-L
Doesn't seem like anything holds its value much these days. Kind of a curiousity thing, I'm not looking really, lol. Although the Honda Accord has caught my eye....
I'm going to pay the Durango off before I do anything, its worth so little that trading it or selling it makes no sense. Might as well drive it into the ground. :sick:
In your comparison in the above post about the three Honda's... My sister is a nurse and travels to see patients. She doesn't like to buy new cars so when her '96 Jeep Grand Cherokee w/200,000+ miles was stolen out of her driveway, she took the insurance money and bought a 2002 Honda CR-V with just over 100,000 miles for $10,000. That car listed for about $22,000 new I would guess.
So, a five year old Honda bringing almost half price with over 100,000 miles seems like a strong price compared to other makes/models. Also, her car looks like it has no more that 50k... I was surprise how clean it was inside and out. She loves the CR-V!
Looks like the CR-V fits right in the middle between a sedan and a mini-van. When you flip the second row of seats over, you can pack tons of stuff in the CR-V. The rear seats also slide forward if you don't need to flip them over.
Mark156
I don't think either really, its just not worth much, it wasn't when I bought it and it isn't now. Dealers don't want 80k mile SUVs, its a fact of life, lol. I don't mind keeping it, its not a bad little truck, just a gas pig.
I am a 47 year old male and am as cheap as they come. Except for cars. I buy new cars (for me, the wife and now my teenager) frequently. I can afford it, but I know darn well that we could easily keep cars for 100K+ miles and save even more than I save now. How do I stop? It's seriously an addiction. I can manage it more or less, but I'd like to eliminate it.
This is a serious post!
I had no problems at all getting the second New Yorker home. It made the ~115 mile trip home without incident. Except, at one point, just after we crossed back into Maryland, my buddy who was following behind me called on his cell and asked why we were doing 80 mph? What are you talking about?! I asked, shocked. I hadn't had it over 70, according the the speedo which was off a bit. It's amazing how seductive those big old cruisers can sometimes be when it comes to speed. You feel like you're just loafing along, when in reality you're setting yourself up for a 3-point ticket!
Turns out the odometer was off just a touch too. That ~115 mile trip ended up clocking in at ~106 on this car. Anyway, I'm happier than a pig in slop with my $500 Chrysler.
41655 CRV (EX-L, AWD)
36463 Accord (EX-L, 4cyl, Auto)
44292 Odyssey (EX-L, no nav or rear entertainment)
However, if you're just looking at resale, here's the residual that Edmunds is estimating on each of these vehicles (after 5 years):
50.8% CRV (EX-L, AWD)
51.5% Accord (EX-L, 4cyl, Auto)
52.7% Odyssey (EX-L, no nav or rear entertainment)
I went through this morning and just looked at cost per mile and came up with this:
Civic (EX, 5-spd) .44/mile
Accord (EX-L, 4cyl, 5-spd) .49/mile
CR-V (EX-L, AWD) .59/mile
Odyssey (EX-L, RES) .63/mile
Then I looked at a couple others:
Corolla S (5-spd) .47/mile
Camry XLE (4-cyl, auto) .56/mile
Altima 2.5S (4-cyl, 5-spd) .51/mile
The Accord is looking pretty good or maybe the Altima.
No price tag on it, but, in looking on-line, I figure around $25K or so.
Anyway, this got me to thinking ...
The AutoNation dealers here in Denver were running a special this weekend ... 120% of KBB trade in value for your car.
I get on line with KBB, and find that my '03 Saturn L300 with 60K miles on it is worth between $8400 (fair) and $9200 (good) condition. I only owe $3200 on it, so with the 120% factored in, I've got some major equity to play with.
I could do one of two things ...
1) Use the equity as a down payment and finance.
2) Use the equity to start a cheap lease (3 yr, 15K miles) and get a check back for the difference.
There are 17 different dealers, selling pretty much every make, foreign and domestic.
I went on-line with them and had their website do a valuation of my trade .. they came back with a range of $7400 to $9200. Not as much as KBB.
Wife doesn't think I should do this, with only 7 payments left.
Thoughts?
Looking at depreciation only the Accord looks darn good. I also tossed the Subaru Legacy into the mix due to the AWD. The Accord would be absolutely perfect if they offered traction control or VDC, but they don't, at least not in the 4-cyl offerings.
Thanks, Fintail. When I was first talking to the owner on the phone, and asked him how much he was wanting, I almost did a double-take when he said he only wanted $500! Had to stop myself before blurting out "Is that all?!". Which, I guess, wouldn't have been the smartest thing in the world to do!
One of my friends stopped by today to look at it, and I drove him around the block. I asked my roommated if he wanted to go along, and he just said "No, I'll just stay here, so you can call me in case you break down!". Some vote of confidence, I guess. :surprise:
To be fair though, he did see it start to show its cranky side up in PA. We stopped by to see Grbeck, who's nearby. We all piled in to go out to lunch in it, and before I started up I made a reference to Mama's Family. I was thinking about when she bought that Nova, the whole family piled in, and it self-destructed as she pulled away from the curb! Well, naturally, as soon as I said that, it refused to start! I finally got it to fire up by spraying some carb/choke cleaner down in it, and we went out to a nearby diner. I got a little nervous though as we drove off, thinking to myself, okay, is this still close enough that we could run back and get one of the other cars, just in case?
Thankfully, it did fire up when we left the diner, and it seems like the more I've been driving it, the less cranky it is. The seller did say that it was hardly ever driven, though. He drove it maybe 15 miles between last year's inspection and this year's!
It has about 63,800 miles on it, and mechanically it feels like it'll go on forever. But the interior is showing its age. Get some rowdy 5-year olds in there, and they could make short work of its interior very quickly. Although the same was probably true when it was brand-new!
I probably should look at a Subaru Legacy too. Maybe the Camry.
We are looking at probably the next couple months, might end up keeping the Durango though since its not worth much and I have a teenager getting close to driving.
Not the lowest price on earth but it's a small dealer, strong market for Volvo, and he stuck to his initial appraisal of my Honda from 5 weeks and 1500 miles ago when I was looking at a Forester. (Yes, they're also a Subaru dealer.)
The Volvo seats are amazing... one of the big factors that swayed me. Ironically, seats were also a factor that kept me from pulling the trigger on a Forester previously.
I hear you about your 'addiction'. But you have to realize, we're not that kind of support group.
The only thing I can think of is get something you really like. Or get into a two-year lease, which pretty much forces you to stick with a car for two years. It can also be a great deal with the right manufacturer support.
Or a nightmare, if you change jobs and mile up a car you don't own.
Other than that, buy cheap cars (that's my solution) that hold their value fairly well. Or buy stuff you won't be able to replace easily, like the last model of a car where the redesign is not to your liking -- the '03 Solara would be an example, lots of people don't want the new, swoopy one.
Getting into a 0% loan, which you can do again on some cars, is also good, because then trading before most of it is paid of is "stupid" in that you're giving up the incentive. But don't listen to me, I once paid a 0% loan off early cuz I hated making payments... I must be some kind of financial genius...
FWIW, I've bought cars brand new, driven them for a couple years, and gotten out for $100/month and 10c/mile. It does involve buying heavily incentivized but decent cars ('97 Nissan truck) or using my GM Card rebates (Prizm, Vibe, Silverado).
You may take comfort in the fact that most of us here know exactly of what you speak.
Except akangl, who is still looking at your post and scratching her blond head, wondering what alleged problem you're talking about ;-)
Good luck,
-Mathias
Perhaps you are. Maybe if you had had the money burning a hole in your pocket you would have invested it in Enron.
I tend to buy the used 2 or 3 year old cars that sold for $18k to $25k new for about half the original MSRP. The domestics are good for this because the initial drop is huge. However I have been drawn to the new Civic Ex for the gas mileage.
I was thinking I could keep my Escape for another 2 or 3 years and then my employer dangled the carrot of a cash incentive to get something more fuel efficient. Now thats like the drug dealer giving out free samples outside the meth clinic.