Edmunds Members - Cars and Conversations (Archived)

henryn

suydam said:

snakeweasel said:

driver100 said:

Here is an example of what I call "False Economizing";

Grandson is 25 yrs old...really good kid. Got his CA certificate, makes $65k a year in year 2.
Has a girlfriend, takes a bus to work to save money to buy a house.
Comes to visit his parents last two weekends, comes on a bus.
Both weekends he needs a ride, about 20 miles to the bus depot so he can get a bus home (parents have to get to work so we are asked to drive him - don't mind helping him but I think this is insane).

I know he is a good kid and he wants to save money to buy a house......good plan.
BUT,
Life goes on. You can't stop everything to try to reach a financial goal. And, you can't make everyone else look after you while you are fulfilling your goals. Besides all that, what if he is at work and they want to send him out to see a client (does he take the bus), what if the boss wants to talk over something at lunch - and suggests he drive?
If I had an accountant employee who made that kind of money, and if they didn't own a car, I would really wonder about their attitude toward life...and money.
I would find it very hard to live without a car. I have had a car since I was 18 and I have never been without a car since,,,,and there were times I was making little money or had lost my job. The car allowed me to find a new job and to get to work once I did have a job. A car is a necessity....I would say I would feel like a nobody without a car. Even if I'm not driving it, I have to know it is there so I have the freedom to go somewhere if I want to.

There is economizing, and their is living. I say, live life to the max, within reason, better to use your money to live well than to sacrifice living in order to save. Saving is important, goals are important, but there is a balance!

I know a few people that don't own cars. They live in the city and you can get anywhere with public transportation with ease. On the rare occasion that they need a car they simply rent one, cheaper than a monthly payment.

It's smart to save up now for a house if he really doesn't need a car. It's not like he will live without one forever. The alternative at that age is to drive old beaters like we did. I didn't really get much joy out of them.

You must be kidding, right? I enjoyed driving "beaters" more than I enjoy my new cars today. The difference is being young, and excited, and everything is still new and fun.

roadburner

Michaell said:

Thanks, I'm pretty sure that I will since another part of the job is to greet customers and help them select the best car for their needs and wants- before they talk with a salesperson.

And my guess is that you may run into 1 or 2 folks who are looking to get a BMW for the same reason you did - HPDE.

Then again, you may not.

"Stories from the Genius Frontlines"?

I'll probably be lucky if I average one hardcore track geek per quarter...

henryn

driver100 said:

henryn said:

Just mulling over some numbers here. At one point in my life I was a math major, so …

Using TrueCar, I should be able to pick up a brand new Chrysler Town & Country Touring model for $27,494. And looking around online, I can get a used 2016, with 20k miles, for $21,991.


http://www.centralhoustonnissan.com/used/Chrysler/2016-Chrysler-Town+++Country-53ab81d00a0e0ae74e1acf5cf91c73f4.htm

Looking at the Carfax, the in service date would appear to be December, 2015, so better than two years of factory warranty left, if only 15k miles. And 15k miles probably would last me two years.

Doing the math, that is 20% off for approximately 8 months and 20k miles. 8 months sounds good, 20k miles doesn’t. I think the key will be the actual condition. CarFax says this was a rental vehicle, and when I looked at used minivans at the Hertz used car lot I was very unimpressed. They had all, uniformly, had a very hard life.

I need to get by and look at this. After only 8 months, it should look / feel / smell like a new car. But 20k miles in a rental fleet, well …

Depreciation is about 15% in year one, 10% a year after that, so $22k for a 2 year old model with about 2 years worth of driving on it sounds about right. Rationed out, I would still prefer the new car, 2 more years of warranty, all new parts like tires, more features, and the big one....you have no idea how that car was driven or what might be wrong with it. If you can afford the extra amount...maybe even swing a bit of a discount....then I would buy the new one. Not to mention, get it the way you want it and enjoy the new car smell and feeling!

I agree, the depreciation sounds about right. Except that this is not a 2 year old model, it is a 2016, apparently (from Carfax) placed in service 12-1-2015, only 8 months ago. The price I quoted for the new one ($27.4) is from TrueCar, and includes some hefty rebates already. I seriously doubt I could get a new one for less that that.

And as for equipment, this is the current year model, and it is the trim level (Touring) that I would buy if purchasing new. I guess my only real worry is the "rental car" factor. I need to get by and look at it. Closely. In daylight.

Michaell

roadburner said:

Michaell said:

Thanks, I'm pretty sure that I will since another part of the job is to greet customers and help them select the best car for their needs and wants- before they talk with a salesperson.

And my guess is that you may run into 1 or 2 folks who are looking to get a BMW for the same reason you did - HPDE.

Then again, you may not.

"Stories from the Genius Frontlines"?

I'll probably be lucky if I average one hardcore track geek per quarter...


Yeah, I think that's sad. Even the M3 and M4 shoppers want the looks, not the performance.

Think BMW could create a model with a base engine but the fancy bodywork?

Sort of the reverse of the folks who stick an "M" badge on the back of their '97 318i...

roadburner

Did we ever determine if Terry(AKA rroyce) was Terry Taylor- the President of Automotive Management Services, Inc.? The reason I'm asking is because AMSI is the corporation that bought the Swope dealer group- which includes the BMW dealer where I work. It would be funny if it turns out I'm working for rroyce...

oldfarmer50

driver100 said:

oldfarmer50 said:

stickguy said:

as to the lease, you can do it. Or at least get close, especially if they really can score 1K out of the jeep! Hey, I am leasing a Jetta for $225/mo (12K year miles) with a total OOP drive off of $1k. And that was not the cheapest.

They can probably score an Elantra SE pretty cheap. But please, teach the kid the basics of taking care of it. At least I know that my daughter is paranoid. If she hears anything odd, or sees a light of any kind, I get a call!

Besides an elantra, and old style Cruz or strippo Jetta could be a cheap get now. Getting to be that season!

Edmunds lists several $200/mo lease deals. I'll try to introduce them to that but they seem fixed on one particular Chrysler dealer that "they heard good things about" I'll have to ask the boss for permission though.

As to the princess, when I taught her to drive I tried to introduce her to auto basics and you can see how that went.

People who don't own the Jeep Patriot kind of look down on them. I checked on Edmunds and it has 4 1/2 stars out of 5. I was in a Patriot taxi a few years ago and I thought it was roomy and comfortable...a little plasticky, but for about $22k what can you expect.

It has it's problems, like an anemic engine, and not good for long hauls, but for a low price leased vehicle that should last for 3 years, and then make a good 2nd car or even a buy out car, it should do.

Thanks for the info, particularly on the Jeep. I'll pass it along if my wife turns me loose.

driver100

henryn said:

driver100 said:

henryn said:

Just mulling over some numbers here. At one point in my life I was a math major, so …

Using TrueCar, I should be able to pick up a brand new Chrysler Town & Country Touring model for $27,494. And looking around online, I can get a used 2016, with 20k miles, for $21,991.


http://www.centralhoustonnissan.com/used/Chrysler/2016-Chrysler-Town+++Country-53ab81d00a0e0ae74e1acf5cf91c73f4.htm

Looking at the Carfax, the in service date would appear to be December, 2015, so better than two years of factory warranty left, if only 15k miles. And 15k miles probably would last me two years.

Doing the math, that is 20% off for approximately 8 months and 20k miles. 8 months sounds good, 20k miles doesn’t. I think the key will be the actual condition. CarFax says this was a rental vehicle, and when I looked at used minivans at the Hertz used car lot I was very unimpressed. They had all, uniformly, had a very hard life.

I need to get by and look at this. After only 8 months, it should look / feel / smell like a new car. But 20k miles in a rental fleet, well …

Depreciation is about 15% in year one, 10% a year after that, so $22k for a 2 year old model with about 2 years worth of driving on it sounds about right. Rationed out, I would still prefer the new car, 2 more years of warranty, all new parts like tires, more features, and the big one....you have no idea how that car was driven or what might be wrong with it. If you can afford the extra amount...maybe even swing a bit of a discount....then I would buy the new one. Not to mention, get it the way you want it and enjoy the new car smell and feeling!

I agree, the depreciation sounds about right. Except that this is not a 2 year old model, it is a 2016, apparently (from Carfax) placed in service 12-1-2015, only 8 months ago. The price I quoted for the new one ($27.4) is from TrueCar, and includes some hefty rebates already. I seriously doubt I could get a new one for less that that.

And as for equipment, this is the current year model, and it is the trim level (Touring) that I would buy if purchasing new. I guess my only real worry is the "rental car" factor. I need to get by and look at it. Closely. In daylight.

I missed that, but, it does have two years worth of driving on it...so that makes the depreciation close. I wonder what is better an 8 month old van with 20k miles, or a two year old van with 5k miles? I think I would go for the second one.

I noticed Edmunds says the T&C lists at $34k, their avg is $32k. The 2017 Pacifica which gets good ratings is about $32k, not much discounting, but might be worth considering.

suydam

henryn said:

suydam said:

snakeweasel said:

driver100 said:

Here is an example of what I call "False Economizing";

Grandson is 25 yrs old...really good kid. Got his CA certificate, makes $65k a year in year 2.
Has a girlfriend, takes a bus to work to save money to buy a house.
Comes to visit his parents last two weekends, comes on a bus.
Both weekends he needs a ride, about 20 miles to the bus depot so he can get a bus home (parents have to get to work so we are asked to drive him - don't mind helping him but I think this is insane).

I know he is a good kid and he wants to save money to buy a house......good plan.
BUT,
Life goes on. You can't stop everything to try to reach a financial goal. And, you can't make everyone else look after you while you are fulfilling your goals. Besides all that, what if he is at work and they want to send him out to see a client (does he take the bus), what if the boss wants to talk over something at lunch - and suggests he drive?
If I had an accountant employee who made that kind of money, and if they didn't own a car, I would really wonder about their attitude toward life...and money.
I would find it very hard to live without a car. I have had a car since I was 18 and I have never been without a car since,,,,and there were times I was making little money or had lost my job. The car allowed me to find a new job and to get to work once I did have a job. A car is a necessity....I would say I would feel like a nobody without a car. Even if I'm not driving it, I have to know it is there so I have the freedom to go somewhere if I want to.

There is economizing, and their is living. I say, live life to the max, within reason, better to use your money to live well than to sacrifice living in order to save. Saving is important, goals are important, but there is a balance!

I know a few people that don't own cars. They live in the city and you can get anywhere with public transportation with ease. On the rare occasion that they need a car they simply rent one, cheaper than a monthly payment.

It's smart to save up now for a house if he really doesn't need a car. It's not like he will live without one forever. The alternative at that age is to drive old beaters like we did. I didn't really get much joy out of them.

You must be kidding, right? I enjoyed driving "beaters" more than I enjoy my new cars today. The difference is being young, and excited, and everything is still new and fun.

Miss having no $$ for repairs and praying the car would get me to my job without something breaking down? Miss bundling toddlers into snow suits because the car had no heat? No thank you!

oldfarmer50

henryn said:

suydam said:

snakeweasel said:

driver100 said:

Here is an example of what I call "False Economizing";

Grandson is 25 yrs old...really good kid. Got his CA certificate, makes $65k a year in year 2.
Has a girlfriend, takes a bus to work to save money to buy a house.
Comes to visit his parents last two weekends, comes on a bus.
Both weekends he needs a ride, about 20 miles to the bus depot so he can get a bus home (parents have to get to work so we are asked to drive him - don't mind helping him but I think this is insane).

I know he is a good kid and he wants to save money to buy a house......good plan.
BUT,
Life goes on. You can't stop everything to try to reach a financial goal. And, you can't make everyone else look after you while you are fulfilling your goals. Besides all that, what if he is at work and they want to send him out to see a client (does he take the bus), what if the boss wants to talk over something at lunch - and suggests he drive?
If I had an accountant employee who made that kind of money, and if they didn't own a car, I would really wonder about their attitude toward life...and money.
I would find it very hard to live without a car. I have had a car since I was 18 and I have never been without a car since,,,,and there were times I was making little money or had lost my job. The car allowed me to find a new job and to get to work once I did have a job. A car is a necessity....I would say I would feel like a nobody without a car. Even if I'm not driving it, I have to know it is there so I have the freedom to go somewhere if I want to.

There is economizing, and their is living. I say, live life to the max, within reason, better to use your money to live well than to sacrifice living in order to save. Saving is important, goals are important, but there is a balance!

I know a few people that don't own cars. They live in the city and you can get anywhere with public transportation with ease. On the rare occasion that they need a car they simply rent one, cheaper than a monthly payment.

It's smart to save up now for a house if he really doesn't need a car. It's not like he will live without one forever. The alternative at that age is to drive old beaters like we did. I didn't really get much joy out of them.

You must be kidding, right? I enjoyed driving "beaters" more than I enjoy my new cars today. The difference is being young, and excited, and everything is still new and fun.

Not to mention that every time it started and didn't break down you felt like you won the lottery.

Warning: possible double post because I pressed "quote" a couple of time when it didn't respond.

Makes me wonder if someone wasn't banging on the quote button for one of Mike's posts and hit the flag button a bunch of times by mistake.

jmonroe

oldfarmer50 said:

jmonroe said:

Hey Mods, I just noticed that I got my old handsome face back. Not sure when that happened. Now all you have to do is let me show everyone I have a '15 Genny not an '09.

jmonroe

And a handsome face it is indeed. Not as handsome as the face I was assigned but still handsome. On your Genny why not just post a picture that we can ogle?

C'mon man, you know that ain't my style. You just gotta take my word for it.

jmonroe

oldfarmer50

jmonroe said:

oldfarmer50 said:

jmonroe said:

Hey Mods, I just noticed that I got my old handsome face back. Not sure when that happened. Now all you have to do is let me show everyone I have a '15 Genny not an '09.

jmonroe

And a handsome face it is indeed. Not as handsome as the face I was assigned but still handsome. On your Genny why not just post a picture that we can ogle?

C'mon man, you know that ain't my style. You just gotta take my word for it.

jmonroe

Don't be like that baby, show us some sheet metal. You know you wanna.

jmonroe

I got to thinking about this BMW Genius thingy.

I can't help but wonder what Hyundai would call their greeter. BMW probably has a copyright on "Genius" for that position so Hyundai couldn't use that term but it would be very fitting to call that guy a Genius because that's what he would be if he could convince someone to buy a Hyundai over other car lines especially a wanna be luxo guy like me who bought a Genesis.

Genius...Genesis kinda close but not the same.

Just thinkin.

jmonroe

stickguy

RB, I think that was our Terry. really did fit too well.

sda

iluvmysephia1 said:

Engineers built the Titanic, and, the Titanic was bragged about as being unsinkable. But was that really what the Chief Architect said?
No, he stated that this cool new ocean liner by White Star Line was "practically unsinkable." Big difference, eh?

This is my neighbor's Soul. Not sure what year, think it is a '10. It has a sunroof, upgraded stereo, fog lamps. They bought it used with around 50k, now at 105k. He says it has been great and they really like the car. Sorry for the blurry picture.

sda

bwia said:

Is it true that….

MB-tex, BMW leatherette and Lexus Nuluxe vinyl upholstery are better than real leather? From what I have been reading, many cannot tell the difference by just looking at the seat coverings side by side.

MB and BMW engineers claim that the newer vinyl upholstery is softer, cooler in the summer, warmer in the winter, lasts longer, and retains its shine and color better and longer. Furthermore, they claim the vinyl seats do not crack, fade or crease and are much cheaper to maintain than real leather.

So, if this indeed true, why charge a $2,000 premium for leather? Are we car buyers so gullible as to pay extra for real leather when it is not any better than vinyl? Is it for the smell of real leather or good marketing to differentiate leather as the epitome of genuine luxury and Nuluxe, MB-tex and Leatherette as premium or entry-level luxury?

All good points about faux leather's practicality and improved feel. However, the look, feel and smell of nice leather is hard to beat.

Mr_Shiftright

Michaell said:

Mr_Shiftright said:

Seem to me your gonna get a Fiat or a stripped down Kia, by the time you add a down payment, tax and acquisition fees.

Plenty of choices to lease at the $200/mo threshold.

When they're ready, find out what they're interested in and we can run some numbers.

I'm skeptical that you can get out the door under $200 on very many cars. Even the current lease on the Hyundai Accent is $169 + $2200 front money plus tax, T&L, so you're well over $200 right there.

The cheapest Jetta is $159/month "excluding title, tax, options, accessories, and dealer fees" and there's $2000 up front and $350 end of lease fee. Also this quote assumes high level of credit and $1,000 bonus from VW thrown in.

Close but not really $200 a month. Probably closer to $250 .

jpp75

imidazol97 said:

ab348 said:

Typically you need to scroll up 2 or 3 messages to find the first unread. This time was different: I counted 11 messages I had not seen before.

X2

X3

nyccarguy

Hey @jmonroe - if you go into your profile, Click on the "signature settings" line and you should be able to update.

explorerx4

@roadburner,
You can send him (tim t) an email asking him what to do with a handshaker in no sale green with tan guts.

stickguy

shifty, I think you can often do better than those national ads. They don't assume that much from the dealer into the deal. That gets the CC reduction down. $250 is serious money on a lease, if you put tax, tags, and 1st payment on the table.

Mr_Shiftright

Well true you can negotiate the MSRP. Still, under $200 out the door seems pretty unusual to me---but I know it does happen.

oldfarmer50

Mr_Shiftright said:

Michaell said:

Mr_Shiftright said:

Seem to me your gonna get a Fiat or a stripped down Kia, by the time you add a down payment, tax and acquisition fees.

Plenty of choices to lease at the $200/mo threshold.

When they're ready, find out what they're interested in and we can run some numbers.

I'm skeptical that you can get out the door under $200 on very many cars. Even the current lease on the Hyundai Accent is $169 + $2200 front money plus tax, T&L, so you're well over $200 right there.

The cheapest Jetta is $159/month "excluding title, tax, options, accessories, and dealer fees" and there's $2000 up front and $350 end of lease fee. Also this quote assumes high level of credit and $1,000 bonus from VW thrown in.

Close but not really $200 a month. Probably closer to $250 .

I think you're right. I researched Jeep Patriot leases and the cheapest was $169/mo with a whopping $3k down. Plus there were back end fees and I'm sure a few more sneaky charges. Most included conquest cash as part of the calculation.

Still it might not be a bad starting point for negotiations.

jmonroe

nyccarguy said:

Hey @jmonroe - if you go into your profile, Click on the "signature settings" line and you should be able to update.

Thanks Bradd, it worked that way.

The Mods owe you a dues reduction for that.

jmonroe

stickguy

well, key to a cheap lease is shopping the deal, not the car. Some just don't lease out as well. Other makers, really push them.

also need to be willing to take the cheapo/strippo/penalty box model! Hey, features cost money.

Michaell

stickguy said:

well, key to a cheap lease is shopping the deal, not the car. Some just don't lease out as well. Other makers, really push them.

also need to be willing to take the cheapo/strippo/penalty box model! Hey, features cost money.

I wouldn't call an Elantra SE or a Civic LX cheapo or strippo.

houdini1

Just checked my profile and now, in addition to the 15 abuse flags, I also have 5 unexplained spam flags. Are you mods still passing out flags willy-nilly? Even the gov has a freedom of information Act...so what gives?

sb55

roadburner said:

Michaell said:

Thanks, I'm pretty sure that I will since another part of the job is to greet customers and help them select the best car for their needs and wants- before they talk with a salesperson.

And my guess is that you may run into 1 or 2 folks who are looking to get a BMW for the same reason you did - HPDE.

Then again, you may not.

"Stories from the Genius Frontlines"?

@ roadburner: I'll probably be lucky if I average one hardcore track geek per quarter...


I was a HPDE instructor with PCA. I used to do 6-8 2-3 day weekends/year for about 15 years. It was a blast. Then life changed. I still dream about laps at Bridgehampton and Watkins Glen. (I really do).

stickguy

those flags are easy to hit by mistake (being right by the quote button). I know I have hit it on occasion accidentally, but canceled before submitting. I bet that some people end up making them go through.

It really means nothing. Just don't look at wherever they store that in the profile, and will never know about them!

houdini1

The flags don't bother me. I am just curious where they came from. To prove a point I just flagged your last post for spam. If you check your profile, click on spam, them hover over the flag, you can see that it was me who flagged you. Mine are all just blank, with no reference to which post was flagged, etc. Plus they all appeared like overnight.

stickguy

Well thanks Houdini, there goes my spotless record! and I do see 1 spam now, but it doesn't tell me who did it.

imidazol97

stickguy said:

Well thanks Houdini, there goes my spotless record! and I do see 1 spam now, but it doesn't tell me who did it.

Click on the Spam marker. The offending post will be shown below the box, if it has not been deleted. At the bottom of the offending post the row of markers if says, "1 flag." Click on that flag and you'll see "abuse" and "spam." Roll over the work "spam" and the name of who marked it will show (more than on name if multiple folks caught your spamming).

houdini1

What Imid said!

houdini1

Sorry stick! Just proving a point. The person who flags you can also delete the flag. It is gone now. Easy Peasy. Clean record.

Apparently I will just have to continue to bask in the glory of being the champion spammer and abuser of all time !!

ab348

While I was reading this discussion an ad ran on Canadian TV for a 24-month lease on a 2017 Hyundai Elantra for $59/wk with zero money up front. This was a national TV ad. Pretty good deal for Canada.

driver100

ab348 said:

While I was reading this discussion an ad ran on Canadian TV for a 24-month lease on a 2017 Hyundai Elantra for $59/wk with zero money up front. This was a national TV ad. Pretty good deal for Canada.

That Elantra isn't a stripper either, rear camera, blind spot warning, automatic etc. I doubt if you could get a used car for $200 a month, by the time you add in the repairs.

One question though......if a car holds it's value, then the lease rate should be really low, since you are paying the difference between price of car, and value at the end of the lease. So, shouldn't something like a Corolla cost even less per month?

stickguy

depreciation (residual) is only part of it. interest rate, and the biggie,, selling price (how much the maker is dumping into the deal)

Michaell

stickguy said:

depreciation (residual) is only part of it. interest rate, and the biggie,, selling price (how much the maker is dumping into the deal)

And, manufacturers like Hyundai can inflate the residual to help lower the payment. Not much difference in the bank residuals for the Elantra SE and Corolla LE.

So, as @stickguy says, it also matters how much of a discount you can get from sticker.

Michaell

Reposting from what I wrote in CCBA, for those of you who don't venture out of this discussion:

So, a conclusion to the job search is in sight.

I received a phone call today from the recruiter, telling me all the approvals for my offer letter are in place.

Showed up in my inbox a couple hours later. I haven't yet e-signed it - I want to sleep on it, though I doubt very much it will change my mind.

Title - Manager, Education Operations

Salary - 105% of what I was making at IBM

Start date - July 18th

And, it looks like my contribution to the health / vision / dental benefit premiums will be about $135/mo less than what I was paying at IBM. Haven't done a compare of the two programs, though I had an EPO through IBM and a PPO through the new company.

Glad this is almost over, and excited to get started.

berri

Hope it all works out. I had heard that IBM no longer had that great of a compensation and benefits program, and that job security was getting shaky there. Seems to bear that all out.

Michaell

berri said:

Hope it all works out. I had heard that IBM no longer had that great of a compensation and benefits program, and that job security was getting shaky there. Seems to bear that all out.

I would agree, though I know @stickguy has a son who is converting to a full time employee. It was average, in my mind.

stickguy

good news Michael. and since salary up and expenses down, you should be able to expand your car budget, right?

my son started a few weeks ago. So we helped him pick benefits (better than our crappy company!) and he got a pretty large raise, but I guess it helps to be a materials engineer with experience on the chip making equipment in the lab there. hopefully it is a good long term place for him, but if not, in a few years he should have his pick of places to go.

me, I just want to retire.

Michaell

stickguy said:

good news Michael. and since salary up and expenses down, you should be able to expand your car budget, right?

my son started a few weeks ago. So we helped him pick benefits (better than our crappy company!) and he got a pretty large raise, but I guess it helps to be a materials engineer with experience on the chip making equipment in the lab there. hopefully it is a good long term place for him, but if not, in a few years he should have his pick of places to go.

me, I just want to retire.

You would think, right?

Still a lot of unknowns - can't begin contributing to the 401(k) until after 90 days, so I won't get a sense of a true paycheck until November.

And, for the time being I'm going to be solo on the benefits - wife is getting medical through her employer. I'll probably add her at the next open enrollment period. Don't know when that is. Fiscal year starts 12/1, but benefits could also be on the calendar year.

Bottom line - I'm going to gang on to the Elantra until the lease is up, then figure out next steps.

roadburner

Interesting day today, two salespeople were off sick and two leave early on Wednesdays. That left me, one salesperson, and the new car manager in the showroom from 3:00 pm to 8:00 pm. I did a little bit of everything- which was great; I'd rather be doing something than simply twiddling my thumbs...

Michaell

roadburner said:

Interesting day today, two salespeople were off sick and two leave early on Wednesdays. That left me, one salesperson, and the new car manager in the showroom from 3:00 pm to 8:00 pm. I did a little bit of everything- which was great; I'd rather be doing something than simply twiddling my thumbs...

How much are you working each week?

fordfool

Michaell said:

Title - Manager, Education Operations

Salary - 105% of what I was making at IBM

Congratulations! I grew up in Poughkeepsie, NY, home of IBM's main frame division.
Small home computers just clobbered IBM's core business and employment. When I
was a kid, IBM made typewriters which also went the way of the dinosaur.

driver100

Michaell said:

stickguy said:

depreciation (residual) is only part of it. interest rate, and the biggie,, selling price (how much the maker is dumping into the deal)

And, manufacturers like Hyundai can inflate the residual to help lower the payment. Not much difference in the bank residuals for the Elantra SE and Corolla LE.

So, as @stickguy says, it also matters how much of a discount you can get from sticker.

That line explains it really well...and the cash incentives part the manufacturer throws in. I was wondering why you can have two cars, that are almost the same in price, but one depreciates a lot (Mitsu or older Kia), and one depreciates a little (Corolla), that the Corolla should cost way less to lease. From your answers, the Mitsu/Kia people would plow more money into incentives to move a car. Good answer - explains it well, glad I asked.

driver100

Michaell said:

Reposting from what I wrote in CCBA, for those of you who don't venture out of this discussion:

So, a conclusion to the job search is in sight.
Title - Manager, Education Operations
Salary - 105% of what I was making at IBM
Start date - July 18th
Glad this is almost over, and excited to get started.

Wonderful news Michaell....................you earned it!

driver100

roadburner said:

Interesting day today, two salespeople were off sick and two leave early on Wednesdays. That left me, one salesperson, and the new car manager in the showroom from 3:00 pm to 8:00 pm. I did a little bit of everything- which was great; I'd rather be doing something than simply twiddling my thumbs...

You may become a "real full time" salesman one day soon - if this keeps up!

oldfarmer50

houdini1 said:

Just checked my profile and now, in addition to the 15 abuse flags, I also have 5 unexplained spam flags. Are you mods still passing out flags willy-nilly? Even the gov has a freedom of information Act...so what gives?

Consider it a badge of honor.

oldfarmer50

ab348 said:

While I was reading this discussion an ad ran on Canadian TV for a 24-month lease on a 2017 Hyundai Elantra for $59/wk with zero money up front. This was a national TV ad. Pretty good deal for Canada.

$59/wk is almost $254/mo.