Chronic Car Buyers Anonymous (Archived)

nyccarguy

My brain works in peculiar ways. I tend to over think things everything, especially when it comes to cars. I was looking at Toyota's website. They only charge $.15 per mile if you go over your allotted lease mileage. Their standard lease includes 12,000 miles per year. Let's say over the course of a 24 month lease I go over my miles by 16,000 miles ($.15 x 16,000 = $2,400). So should give Toyota the MSD for the cheaper money factor (and lower lease payment), then use that money when I turn the lease in use that money to pay for the over lease miles?

Mr_Shiftright

tifighter said:

Which model did you drive?

The Model 3 Standard Range Plus with Full Self-Driving option.

stickguy

That $2,400 in overage charge is offset by whatever you save in lease monthly payment. How much lower is it at 12k vs 18k?

graphicguy

@nyccarguy ....so, did I miss it? You traded the Q in for a Tacoma?

28firefighter

About $100/month.

stickguy

So exactly what you would expect. It’s a wash. Pay $2,400 across 24 months, or lump sum at the end.

I would take the end. Time value of money (and cash flow). Plus, if you end up under miles, you save. And if you lease another of same brand, or buy it out, overage can disappear.

nyccarguy

stickguy said:

That $2,400 in overage charge is offset by whatever you save in lease monthly payment. How much lower is it at 12k vs 18k?

Exactly, so if I'm going to pay the same price why not take the cheaper payment and pay less in MSD?

12K per year = $289/month with ($2,700) MSD x 24 = $9,636
18K per year = $384/month with ($3,600) MSD x 24 = $12,816

So I'll end up spending pretty much the same amount of money for the lease, but will have to shell out less in MSD up front - or have I gone completely insane?

nyccarguy

graphicguy said:

@nyccarguy ....so, did I miss it? You traded the Q in for a Tacoma?

Nope - you haven't missed a thing. I'm just ranting and rambling.

nyccarguy

au1994 said:

@nyccarguy - Did I miss the date for the test drive on the Tacoma? Looking forward to your impressions. They have some great colors on that truck. What are you considering?

I haven't test driven yet. I spent mother's day afternoon replacing my sump pump that burnt out. Thankfully I own the plumbing supply and had a spare ready to install. Of course it wasn't that simple, I still had to run to Home Depot to pick up a Galvanized Nipple & a Check Valve.

As far as colors go, I'll most likely stick with Black.

tjc78

I still had to run to Home Depot to pick up a Galvanized Nipple & a Check Valve.

Well that had to tick you off, considering you probably have the parts in stock at your store! 

stickguy

I always compare total costs. Oddly, sometimes I’ve seen options advertised where putting up a DP costs more in total cost than nothing down, monthly only. Weirdly, some people still do it (fixated on payment I guess, and clueless about math or finance!)

28firefighter

Also, you only pay for the mileage you use in that case. So on the off chance you end up doing less than 18k per year, you will not have overpaid.

Michaell

28firefighter said:

Also, you only pay for the mileage you use in that case. So on the off chance you end up doing less than 18k per year, you will not have overpaid.

Which is entirely possible, as I can see him driving the Prelude more when the weather is nice. Great combo to have, IMO. Much like @jpp75 with his Tacoma and C30

28firefighter

Well and at $.15/mile for overages, I see no reason to front the money to Toyota, either.

ab348

Michaell said:

Which is entirely possible, as I can see him driving the Prelude more when the weather is nice. Great combo to have, IMO. Much like @jpp75 with his Tacoma and C30

Except driving the Prelude more also likely means spending more to maintain /repair it....

stickguy

What’s the point of having a car if you can’t use and enjoy it?

tifighter

tifighter said:

Looks like my "old" Volvo has now gone up for sale-

https://sandbergvolvocars.com/used/Volvo/2015-Volvo-XC70-lynnwood-wa-7235b83a0a0e0a170a28c3ba671eb4b3.htm

And it sold in just a few days. That actually went faster than I expected.

tifighter

Mr_Shiftright said:

tifighter said:

Which model did you drive?

The Model 3 Standard Range Plus with Full Self-Driving option.

Okay, so the entry model. Which is no slouch. But since you are comparing it to the S, which is a dual motor, you'd want to try a dual motor 3, which packs nearly an extra 100hp over the standard range you drove, and is also around $30K less than the S. It scoots.

rayainsw

Mr_Shiftright -
I really appreciate you taking the time to
write up your impressions of the Tesla 3 !
Thanks,
- Ray
Not yet had that opportunity . . .

rayainsw

In unrelated news: "BMW Understates Output"
https://www.caranddriver.com/features/a27437648/2019-bmw-m5-dyno-horsepower/
- Ray
Not surprised . . .

au1994

nyccarguy said:

au1994 said:

@nyccarguy - Did I miss the date for the test drive on the Tacoma? Looking forward to your impressions. They have some great colors on that truck. What are you considering?

I haven't test driven yet. I spent mother's day afternoon replacing my sump pump that burnt out. Thankfully I own the plumbing supply and had a spare ready to install. Of course it wasn't that simple, I still had to run to Home Depot to pick up a Galvanized Nipple & a Check Valve.

As far as colors go, I'll most likely stick with Black.

Can't go wrong with a classic color!

kyfdx

nyccarguy said:

stickguy said:

That $2,400 in overage charge is offset by whatever you save in lease monthly payment. How much lower is it at 12k vs 18k?

Exactly, so if I'm going to pay the same price why not take the cheaper payment and pay less in MSD?

12K per year = $289/month with ($2,700) MSD x 24 = $9,636
18K per year = $384/month with ($3,600) MSD x 24 = $12,816

So I'll end up spending pretty much the same amount of money for the lease, but will have to shell out less in MSD up front - or have I gone completely insane?

Take 15K/yr/ for 2% residual reduction.

6000 miles extra for $8XX.

Then, $0.15/mile over that.

28firefighter

To do that saves $.01/mile - a total of $54 over 2 years. I don't think that is enough discount to justify paying it upfront, personally.

ab348

stickguy said:

What’s the point of having a car if you can’t use and enjoy it?

Buying a new vehicle to do your work commute in and then using your hobby car more because you prefer to commute in it just seems odd to me.

cdnpinhead

This is the sort of stuff that happens when you lease cars.

kyfdx

28firefighter said:

To do that saves $.01/mile - a total of $54 over 2 years. I don't think that is enough discount to justify paying it upfront, personally.

That's true... .but, if he is expecting 18K/yr (or anywhere close), he won't have to think about how every extra mile is costing him more money (up to 15K)

For 36 months, no brainer..

au1994

I saw a Passport on the road over the weekend. Nice looking, the proportions and overall size are just right. This one had the black wheels which I believe makes it a Sport model. Don’t particularly care for those but its nice looking.

stickguy

it is nice looking, but pretty much just a Pilot with a nose job and tummy tuck!

mjfloyd1

Is it a tummy tuck or a Brazilian butt lift?

pensfan83

I figured this question would be coming...

28firefighter

The number of times I use the word “delightful” sarcastically when helping friends shop is not something I’m proud of. But sometimes, the decisions are just too baffling. 

corvette

rayainsw said:

In unrelated news: "BMW Understates Output"
https://www.caranddriver.com/features/a27437648/2019-bmw-m5-dyno-horsepower/
- Ray
Not surprised . . .

Hahaha... BMW has been using "bigger horses" for years. Sub 3-second 0-60 is nothing to sneeze at, though!

corvette

28firefighter said:

The number of times I use the word “delightful” sarcastically when helping friends shop is not something I’m proud of. But sometimes, the decisions are just too baffling. 

Um, yeah, if a Tacoma was adequate but had a few shortcomings, I can't see how a diesel full size would work better for a moderate load than something like a Tundra or an F-150 2.7T or 3.5T.

sb55

@nyccarguy You own a business. Can't you use a truck for an occasional delivery? And make some of it a business expense?

tjc78

Better yet, lease the truck in the business's name and write the whole thing off.

nyccarguy

sb55 said:

@nyccarguy You own a business. Can't you use a truck for an occasional delivery? And make some of it a business expense?

I can and do plan to use the truck (IF I get it) for the occasional delivery. I can't be "written off" as a business expense because it will be registered & insured to me personally. The majority of the miles I do are commuting. Commuting miles can't be expensed or written off.

nyccarguy

tjc78 said:

Better yet, lease the truck in the business's name and write the whole thing off.

The insurance to lease & register it in my business' name is expensive.

tjc78

Guess it would be given the location of your business.  Didn’t think about that.  

kyfdx

They don't make it easy to cheat the government out of taxes.

nyccarguy

kyfdx said:

They don't make it easy to cheat the government out of taxes.

What's that old bumper sticker say? Don't steal. The Government Doesn't Like Competition.

breld

Got the new (to me) wheels on the Q7 and am very pleased.  I definitely had some apprehension over the size and resulting narrow sidewalls, but I’d say the difference in ride is negligible, and the improvement in handling is notable.  Just going from the snow tires to the stock tires would have had that result too though.  

Michaell

breld said:

Got the new (to me) wheels on the Q7 and am very pleased.  I definitely had some apprehension over the size and resulting narrow sidewalls, but I’d say the difference in ride is negligible, and the improvement in handling is notable.  Just going from the snow tires to the stock tires would have had that result too though.  

Where was that picture taken?

nyccarguy

Looks fantastic @breld

tjc78

nyccarguy said:

Looks fantastic @breld

+1

breld

Michaell said:

breld said:

Got the new (to me) wheels on the Q7 and am very pleased.  I definitely had some apprehension over the size and resulting narrow sidewalls, but I’d say the difference in ride is negligible, and the improvement in handling is notable.  Just going from the snow tires to the stock tires would have had that result too though.  

Where was that picture taken?

Driveway of my ex's house. I was picking up my boys and thought I'd snap a quick pic.

xwesx

Wow; what size are those, 22"? Borderline overkill!

Just don't get anywhere near a curb. They might form a rash just due to the pucker factor.

breld

Yup - 22". I don't disagree on the borderline overkill comment - I had been scanning craigslist hoping to find the 21" Audi option...came across these and decided to take the plunge.

marcogallo1986

Nice breld agree. With all above. Lol

au1994

@nyccarguy have you had a chance to do a test drive yet?

bryan

https://cadillac.com/certified-pre-owned/search-inventory#!#%3FdealerID=7DO9CkJ_vAU=&stockNum=CP3998&distance=4.02

Hi Guys: Long time lurker. I read this and the Cars and Conversation Forums daily. I've learned a lot from these forums.

I need some advice if I may. I've decided I'd like to have a Cadillac XTS. I found this certified car at my nearby Cadillac dealer. The CarFax seems clean. It is a color combo I really like. I think their asking price of $33,995 is high. Even certified. I noticed it's been on their lot about 3 months. Maybe they'd like to move it?

I would sincerely appreciate some sage advice from the folks here as to what would be a fair price for me to offer if I decide to pursue the car. Thanks in advance for any advice/guidance.