Edmunds Members - Cars and Conversations (Archived)

imidazol97

explorerx4 said:

@oldfarmer50,
Yesterday, drove by a sign for the 'Hudson Valley Tattoo Festival'.
Wonder how that's going to go?

I am wondering if outdoor cruise-ins will be held. There's a cruise in for A-bodies in Ontario this
Thursday.

imidazol97

Hit Walmart looking for noodles. The employee was cutting open boxes in the middle of the aisle. They were toilet paper. People swarmed and picked up TP. He didn't even take it out of the box.

Next, I need another tube of disinfectant wipes.

I heard that about 1/3 of the households in country got a fake email saying the Fed gov was going to institute a lockdown on whole country. No wonder so many people were still stripping the store shelves today.

My email provider that I pay for my main business email address uses a well known checker that catches a lot of spam and threats. Barracuda is the name... I have a little control over how it checks things, but it filters. It even strips out XMsirius emails so there's no data in them when they acknowledge my payment, e.g..

stickguy

we have been seeing updates from a number of local restaurants that they are setting up drive-up areas for takeout. Good chance that a number of them, that get ahead of this and do it right, will make out OK. People are going to go stir crazy and I know by Friday my wife is going to be in no mood to cook. Could be an interesting experience. Especially if we can't find meat at the market by Friday!

imidazol97

We hit our favorite Chick Fil A today for drive through. Traffic was lighter than normal, but Mondays were often light on business. Even thought it's close to base and lots of tech offices around the base.

jmonroe

explorerx4 said:

@jmonroe,
A few months ago, I went to a Soc Sec information session.
It was informative, but the presenter was really trying to gather leads for his insurance business.
If you start collecting and change your mind, you have to stop it within the first year and pay back the benefits you received.

WOW, they sure screwed that up. Just curious, how much can you make today before you have to give back 50% of everything you earn over that? Before I hit full SS retirement age that amount was something like 12.5K a year.

jmonroe

explorerx4

@jmonroe,
Up to you FRA, you can make up to $18,240.
Year of your FRA, $48,600.
FRA = Full Retirement Age.
Numbers are for 2020.

jmonroe

explorerx4 said:

@jmonroe,
Up to you FRA, you can make up to $18,240.
Year of your FRA, $48,600.
FRA = Full Retirement Age.
Numbers are for 2020.

If I'm reading that right, they really screwed that up too. When I hit FRA, there was no limit as to how much you could earn and still keep every penny of you SS. Everything you earned without limits was yours to keep plus all of your SS. When I was working and collecting SS I didn't need SS so all of that was banked. Now with the economy tanking I'm glad I banked it. DOW down 3K points and who knows how much farther. Unprecedented times for sure. Just when I thought I might have enough the mule kicked me and everyone else, dammit. :@ :@

jmonroe

suydam

After full retirement age there is no earnings limit.

stickguy

hope that stays. in case I hit 67 and still need to work! and with the way the markets are going, entirely possible.

jmonroe

suydam said:

After full retirement age there is no earnings limit.

Maybe we have to get the words straight. @explorerx4 said, "YEAR OF your full retirement $48,500". I guess you could read that literally as...ONLY the year of your retirement but there is no limit for all SUBSEQUENT years. In any case I got mine so I'm happy. Just don't like to see them screw it up for those that retire after me.

jmonroe

suydam

Yes that’s right.

tjc78

So if your birthday is late in the year you are probably better off retiring at the start of the next year if you’ll make more than that.

bwia

My daughter has a 4.5%, 30-year mortgage (20 years remaining) and wants to refinance in light of the low interest rate environment. Her loan to value ratio, per her 2020 property tax valuation report, is very good but Zillow's valuation is some $50K lower. Hmm, is Zillow predicting a housing downturn or are the taxing authorities ripping her off? Hope not, because the last thing consumers want at this time is an erosion of their home equity on top of their diminishing stock portfolio.

Meanwhile, her bank is so busy with mortgage activity that they said they'll call her back in a few days. Perhaps they're waiting for another Fed rate cut or perhaps they are strategizing on the best way to price their mortgages for maximum profit.

stickguy

I was planning on calling a mortgage broker today too. Just to lock in the rates LT since I currently am at IIRC 3.25%. But not for long until that adjusts.

nyccarguy

I bought my house in 2010 with a 5.125% 30 year fixed & refinanced in 2015 at 4.125% fixed for another 30 years. My current principle balance is 487,603.32. I've been telling myself every year I get my tax return that I'm going to take it and make 1 extra principle payment to try and pay the mortgage down a little. That hasn't happened. I have a HELOC that is currently at 5.75%. I owe $28,932.13 on the HELOC.

Ideally I'd like to refinance for 15 years (which would cut 10 years off the current loan and put me 5 years ahead on the original loan). I have to run the numbers, but I think my payment will jump significantly. I don't want to reset the clock again because I know I'm not financially disciplined enough to make the extra payment every month. I think mortgage rates might go down as well.

On the other hand, I always think to myself: "Why race to pay the mortgage down?" I currently pay a healthy amount in mortgage interest that is fully tax deductible.

qbrozen

bwia said:

My daughter has a 4.5%, 30-year mortgage (20 years remaining) and wants to refinance in light of the low interest rate environment. Her loan to value ratio, per her 2020 property tax valuation report, is very good but Zillow's valuation is some $50K lower. Hmm, is Zillow predicting a housing downturn or are the taxing authorities ripping her off? Hope not, because the last thing consumers want at this time is an erosion of their home equity on top of their diminishing stock portfolio.

Meanwhile, her bank is so busy with mortgage activity that they said they'll call her back in a few days. Perhaps they're waiting for another Fed rate cut or perhaps they are strategizing on the best way to price their mortgages for maximum profit.

In my experience, tax valuation has no relation to reality.

stickguy

I used to have fully deductible interest, and more importantly, property taxes. No more since last years tax changes.

I really expected to be out of this house by the time the 10/1 arm initial rate expired. Looks like I guessed wrong. Darn. I think have 2 more years on that. So might just try and pay down what I can before dealing with the rate jump. I really hate to refi now and pay the costs to not get much of a rate deduction.

bwia

I've been checking mortgage rates this morning and the rates are all trending over 4.0% for a a 30year note. That stinks; however, I got this pop-up message on BankRate Monitor

"An update about mortgage rates
You may find that advertised mortgage rates are higher than expected right now. Market factors have caused a surge in applications, which has exceeded lenders’ capacity levels and therefore impacted displayed rates.

Submit your email and we'll let you know when displayed rates are back to market levels."

nyccarguy

stickguy said:

I used to have fully deductible interest, and more importantly, property taxes. No more since last years tax changes.

I really expected to be out of this house by the time the 10/1 arm initial rate expired. Looks like I guessed wrong. Darn. I think have 2 more years on that. So might just try and pay down what I can before dealing with the rate jump. I really hate to refi now and pay the costs to not get much of a rate deduction.

I’m right at the threshold for property tax deductions $10,200.

graphicguy

@explorerx4 ...man, sorry to hear about your job situation. You have a good attitude. And, as you say, it gets you right where you need to be for retirement. Still, you always want to pick your own date to leave.

I work for a computer chip/CPU/GPU company. We had been having a good run the last 5 years or so. But, we’re not the biggest company that does what we do. And, even though we’re big in absolute terms, we don’t have the deep pockets of our bigger rival.

We keep having con calls regarding the resources we need and what may/may not be our needs in the unpredictable next 6 months. Some of our biggest markets are closed down and at a standstill. I’m figuring if they’re asking me to come up with a prediction for our personnel resources, there’s someone above me looking at my level of management, trying to predict the same thing.

Lots of people will lose their jobs over this virus situation. Unemployment will surge. Recession (either mild or severe) will most likely happen. 6 weeks ago, this was controllable. Today? Not nearly as much.

I think if my number is called to pack up my desk, I may call it a career....just a little sooner than I expected.

imidazol97

I found an article about what seems to be the key to the corona flu virus' deadly response in some patients.
It's on Oregonlive, apparently not a political site.

https://www.oregonlive.com/coronavirus/2020/03/the-coronavirus-turns-deadly-when-it-leads-to-cytokine-storm-identifying-this-immune-response-is-key-to-patients-survival-report.html

laurasdada

abacomike said:

Ouch - stock market down 2500+ points. So much for the Feds rate reduction to almost zero to stimulate the economy.

I have a jumbo CD maturing this Friday. I'll have to put the money into my checking account - why put the money in a CD for 6-8-12 months at .5% interest rate - tying up the money?

My online savings accounts are now paying 1, 1.25 and 1.5%. What goes up an escalator, goes down an elevator.

I just turned at risk age on last Friday. Had a nice mini vacation with the fiance; a couple of nights at the casino; followed by a night at a top B&B in Newport, RI. During which time I was notified that I would be WFH until further notice.
Being a Costco member, I believe I"m well supplied for a while, I didn't rush out to hoard. I have a Brita water filter pitcher, but also have no issue with tap water. Some frozen foods, canned soups and veggies. Ran (alone, probably the worst part of WFH) 4 miles yesterday, by many closed small businesses downtown. There were people out walking on a beautiful, cold winter day. Told my elderly neighbor that I'll be around a lot should she need anything; she offered me TP! Thanks, I'm well Costco'd!

Selfishly, a bit sad about my (and everyone else's) 401k/IRAs. The boy graduates May '21, so that likely was to be the date I could consider retirement; now not so much.

And, it appears that Tom Brady will be leaving the Pats. Enough 2020.

bwia

According to the Boston Globe, here’s what [Brady] wrote to the Patriots organization, and to fans.

In a note titled “FOREVER A PATRIOT:”

"To all my teammates, coaches, executives and staff, Coach Belichick, RKK and the Kraft family and the entire organization. I want to say thank you for the past twenty years of my life and the daily commitment to winning and creating a winning culture built on great values. I am grateful for all that you have taught me - I have learned from everyone. You all have allowed me to maximize my potential and that is all a player can ever hope for.

Everything we have accomplished brings me great joy and the lessons I have learned will carry on with me forever. I couldn’t be the man I am today without the relationships you have allowed me to build with you. I have benefited from all you have given me. I cherished every opportunity I had to be a part of our team, and I love you all for that. Our team has always set a great standard in pro sports and I know it will continue to do just that.

Alhough my football journey will take place elsewhere, I appreciate everything that we have achieved and am grateful for our incredible TEAM accomplishments. I have been privileged to have had the opportunity to know each and everyone of you, and to have the memories we’ve created together."

Tom, sorry to see you go; but for every great loss there is some small gain. Thanks for the memories.

driver100

imidazol97 said:

I found an article about what seems to be the key to the corona flu virus' deadly response in some patients.
It's on Oregonlive, apparently not a political site.

https://www.oregonlive.com/coronavirus/2020/03/the-coronavirus-turns-deadly-when-it-leads-to-cytokine-storm-identifying-this-immune-response-is-key-to-patients-survival-report.html

Interesting article.........possible, or something similar.

coldinohio

interest rates at local CU for good credit:
15 year-2.875
30 year--3.3

there are a lot of people refi-ing and consolidating finances;

my work is shutting down except for essential services, and so i will telecommute

everyone, esp the at-risk groups need to play it safe

on the car front, congrats to all new car/truck owners

one year with Macan-- very fun

tom

graphicguy

laurasdada said:

abacomike said:

Ouch - stock market down 2500+ points. So much for the Feds rate reduction to almost zero to stimulate the economy.

I have a jumbo CD maturing this Friday. I'll have to put the money into my checking account - why put the money in a CD for 6-8-12 months at .5% interest rate - tying up the money?

My online savings accounts are now paying 1, 1.25 and 1.5%. What goes up an escalator, goes down an elevator.

I just turned at risk age on last Friday. Had a nice mini vacation with the fiance; a couple of nights at the casino; followed by a night at a top B&B in Newport, RI. During which time I was notified that I would be WFH until further notice.
Being a Costco member, I believe I"m well supplied for a while, I didn't rush out to hoard. I have a Brita water filter pitcher, but also have no issue with tap water. Some frozen foods, canned soups and veggies. Ran (alone, probably the worst part of WFH) 4 miles yesterday, by many closed small businesses downtown. There were people out walking on a beautiful, cold winter day. Told my elderly neighbor that I'll be around a lot should she need anything; she offered me TP! Thanks, I'm well Costco'd!

Selfishly, a bit sad about my (and everyone else's) 401k/IRAs. The boy graduates May '21, so that likely was to be the date I could consider retirement; now not so much.

And, it appears that Tom Brady will be leaving the Pats. Enough 2020.

Told the GF last night that we’re fine with tap water. Unless you live in Detroit, I’ve seen too many articles outlining the lack of any “specialness” regarding bottled water. Plus, I have filtered water coming out of my fridge.

I actually grilled steaks outside last night. GF was worried about bread and meat shortages. We drug out the old “bread maker”, dusted it off, and made a loaf of bread. Mighty darned tasty. I have an assortment of cod, salmon, shrimp, mahi-mahi frozen in the garage freezer. Also have a big bag of Costco chicken breasts in there, too.

I think we’re good. What we don’t have, and might want, we’ll make. Tonight it will be pizza dough and pizza sauce, all home made.

jmonroe

bwia said:

I've been checking mortgage rates this morning and the rates are all trending over 4.0% for a a 30year note. That stinks; however, I got this pop-up message on BankRate Monitor

"An update about mortgage rates
You may find that advertised mortgage rates are higher than expected right now. Market factors have caused a surge in applications, which has exceeded lenders’ capacity levels and therefore impacted displayed rates.

Submit your email and we'll let you know when displayed rates are back to market levels."

@qbrozen answered your question about taxes and the real world world value about house values. As for Zillow, I look at what they say the as I do when reading a comic book. When Son #1 was selling his first flip house, Zillow had that house listed for about 25 grand less than what he sold it for. Why? Because Zillow only guesses the value based on what other houses in that neighborhood sold for somewhat recently. Then in a month or so because of what his flip sold for, other homes in that neighborhood will show a bump up because of that but they will be wrong because they have no idea what his flip was actually worth because they were never in it. That's what has always amused me about what people say when they see a house that sold in their neighborhood for what they thought was a very good price and they usually say, "if he can get that, so can I". WRONG, you have see the inside not just the outside.

As for banks and interest rates, banks cannot lose money even when they try. The bailout of a few years ago proved that.

jmonroe

dino001

I have three payments left on my mortgage. Can't wait. Then I can finally put more money in the downed stock market. Probably perfect timing.

driver100

dino001 said:

I have three payments left on my mortgage. Can't wait. Then I can finally put more money in the downed stock market. Probably perfect timing.

Gutsy, but a good idea.
Me....I am glad I didn't buy that 2017 C300.

jmonroe

dino001 said:

I have three payments left on my mortgage. Can't wait. Then I can finally put more money in the downed stock market. Probably perfect timing.

I was thinking about doing that too. But I'm not sure about how much is still left in my accounts to do that. I think I'm going to have to dig up some of the buried coffee cans and jars in my backyard. I just hope Mrs. j didn't throw out my map. If she did that I'll have to buy a metal detector, which now gives me an idea, I better do that before others want to do that too and the next big run on an item will be metal detectors.

jmonroe

dino001

Well, the process will be gradual, assuming I still have a job (not unreasonable assumption in my industry), I'll have nearly two grand extra cash every month, so I'm talking more a gradual and systematic investment process rather than "calling bottom", but chances are it will start around that bottom, perhaps a bit later. Considering the speed of the declines, I see possible 10-20 percent decline (index) from here, but it would not surprise me if it were either more or less. Truth is, nobody knows exactly how bad it will really get. One way to combat that is systematic investment. I'm already doing it with my 401k, but this extra cash will add some money to it. I also need to replenish my savings, as I'm still in the spending mode with my kitchen. The bills are just coming, will be paying second half of the cabinets and floors, due full payment for the countertops and new stove, add all the miscellaneous stuff, like plumbing. Oh, backsplash, too, the labor is still over a grand, it seems. Altogether I think I'll end up spending just about 30 grand total on the project, I think I'm just 30 percent out at this time. So the checking/savings accounts will still take some real hits in next couple of months. I could also accelerate paying off my car loan, but it's got just 16 months left on it with only 3.5% APR, so I may just let it run its course. Will see. I usually split my bets, just like i did with the house and market, put some extra money toward mortgage, rest toward 401k and taxable brokerage rather than just one thing.

ab348

Wow, one GF becomes a fiance, and another poster now has a new GF... both of those could be far more costly and risky than the markets. Meanwhile I'm still flying solo...

I have become numb to the markets and those who prognosticate about them. They never make any sense whether they are going up or down. The periodic dramatic downturns in particular. As long as you don't need your money short-term, just take a breath. Although I admit that I'm kicking myself for not moving everything into safe harbors about a month ago, I take solace in not putting $20K or so into market index funds like I also was considering earlier. That cash along with a much larger chunk is sitting safely in various bank accounts. This too shall pass.

stickguy

wait I missed the engagement. who is taking that plunge?

stickguy

since we paid off our HELOC both wife and I just upped our 401K deduction rate. Probably takes effect 4/1, so good timing. I hope.

if I had not re-invested the RDX sales cash into a new car, I would be sitting on that cash waiting for a WAG time of the market getting close enough to the bottom to get back in. Otherwise, no really decisions for us since the invested money is just in for the long haul, and don't have enough extra cash to do much more than take a flyer on a rebound stock. might be grabbing 1-2,000 shares and crossing my fingers! Just need to send some cash over to Vanguard first.

more likely will just start pumping more money into the mortgage, even though right now, it probably doesn't make sense. But have to pay that off before can retire, and would be taking a risk that rates 2 years from now are still low. Always a crapshoot.

ab348

stickguy said:

wait I missed the engagement. who is taking that plunge?

Referenced HERE

laurasdada

She's been a fiance for ~ 6 months, easier to type GF!
I've been torn over what to do with retirement accounts, but when usnure, do nothing...? Theoretically, I"m a minimum 2 years away from retirment, a month ago I thought I had enough saved to consider it. Now, not so much.

stickguy

Well I missed the window to liquidate, so riding it out for now. Thankfully I have at least (sadly) 7 years before looking to actually retire. So waiting for the recovery! I do need to close out the old company accounts and consolidate at vanguard though at some point. Meant to do that already. Just been lazy.

jmonroe

stickguy said:

Well I missed the window to liquidate, so riding it out for now. Thankfully I have at least (sadly) 7 years before looking to actually retire. So waiting for the recovery! I do need to close out the old company accounts and consolidate at vanguard though at some point. Meant to do that already. Just been lazy.

Well, like they say, "it's only money". And it's OLD money, which I have heard is the best kind. Right now I'll take any ole money.

jmonroe

suydam

We are retired, but don’t have a large chunk of our portfolio in stocks. Hoping we will be fine. It’s a little scarier now that we are taking $ out rather than putting it in. Our finance guy assures us we are ok. I hope so.

stickguy

for the "big" funds (older 401(k) plans) that is in age based retirement target funds. So at this point, close enough to retirement age that I was not all in stocks anyway. Just not quite sure what, and no way do I want to go check.

suydam

Me either.

abacomike

My new neighbor knocked on my door about an hour ago to introduce himself to me. In his hand was a gift for me - a bottle of Jameson "Black Barrel" Irish Whiskey. He is a retired school teacher - lost his wife to cancer last year.

So, of course, I invited him in to have a drink with me. I have never had that brand of whiskey before - all I can say is that it was "smooth as silk" going down. We finished a third of the bottle. I told him he is welcome in my condo anytime he comes with a bottle of Jameson - and if he doesn't have a bottle handy, I assured him I would!

What a nice thing to do! 😋

abacomike

I was over to my Mercedes Dealer this morning for a car wash. I walked into the new car showroom and met with the sales manager whom I bought my first car from at that dealership. I inquired if there were any great deals on leases. He told me the best program out right now is on the 2020 S450.

I asked him the specifics and he told me the 36-39 month lease would be about $1000 a month - give or take. With about $7500 cap cost reduction and a great money factor, I could lease it for about what I am paying now. He had a car on order for inventory due to be built in mid-May which he could change to the color and options I wanted. So he changed the order to my specs and the car is expected to arrive in mid-late June. The deal would be contingent upon the lease and money factor acceptable to me.

Mercedes Financial has a 3-month pull-ahead program so I could turn in the lease in late June. The cap cost would be phenomenal because of trunk money available due to the fact that there is a major body change coming in 2021, which I could care less about - it's a lease and I love my 2018 body style - best car I ever had.

So, I'll know more once the car arrives from Germany.

tjc78

Friends that bring whiskey are good friends to have!!

carnaught

@abacomike, what color and options have you configured? Just want to live vicariously through you.

oldfarmer50

dino001 said:

I have three payments left on my mortgage. Can't wait. Then I can finally put more money in the downed stock market. Probably perfect timing.

Smart move but then I said the same thing 3000 points ago.

I was working an extra day today. Business is down at the offices but the dealers are still buying so lots of work.

We went for a nice drive to Vermont and since all the NY places wouldn’t let us sit down I stopped at a Micky D’s just over the border. They told me I could still have a sit down but they were closing the dining room at 2:00.

I didn’t want to be rushed so I had my Big Mac in the front seat of one of these:



Not actual car but just like it.

abacomike

I spoke to my brother this morning and he gave me information that literally stunned me. His oldest son (my nephew) is chief of cardiology at a group of 2 hospitals in North Carolina. He told my brother that this corona virus could conceivably cause the death of nearly 2 million people here in the US - mostly elderly people with existing health issues - like me. He told my brother to stay at home and order food for delivery only.

So, I am staying home and not going to the mall for my daily walking with my friends. This is a scary situation!

omarman

In another topic somebody posted a memory of his dad knocking on a stranger's door to inquire about an interesting old car parked in the driveway. He also posted that happened a long time ago when one could knock on a stranger's door without serious hesitation.

But everybody's Irish today!

oldfarmer50

abacomike said:

My new neighbor knocked on my door about an hour ago to introduce himself to me. In his hand was a gift for me - a bottle of Jameson "Black Barrel" Irish Whiskey. He is a retired school teacher - lost his wife to cancer last year.

So, of course, I invited him in to have a drink with me. I have never had that brand of whiskey before - all I can say is that it was "smooth as silk" going down. We finished a third of the bottle. I told him he is welcome in my condo anytime he comes with a bottle of Jameson - and if he doesn't have a bottle handy, I assured him I would!

What a nice thing to do! 😋

I have to move into your condo development.

abacomike

carnaught said:

@abacomike, what color and options have you configured? Just want to live vicariously through you.

Selenite Gray with black leather (same combo as I have now - love the color - and walnut wood interior.

AMG Line Exterior Package
20" Multi-spoke AMG alloy wheels
Premium Package
Driver Assistance Package (Distronic)
Heads Up Display
Rear Spoiler
Wheel Locks
Wood and Leather Steering Wheel
Panorama Roof

MSRP $109,750.00