Chronic Car Buyers Anonymous (Archived)

tjc78

28firefighter said:

I'd be walking away - that S class is too subsidized and too nice to have to pay to get out of it, IMO.

Agreed 100% @abacomike I know you feel the deal is solid and things are better now, but that is just too much coin to throw out the window.

IIRC you put a large CCR on that S and you are basically giving 5 months of that too.

As much as I'd like to advocate a punch I'd walk, run that S until the last day of the lease and then make your deal.

graphicguy

BTW....Mike, I’ll throw my hat into the ring on riding out the current lease. You love the car. You said there’s not much difference between it and a new one. Plus, it’s an “S“ over an “E”. I wouldn’t want to eat any lease payments.

As I’ve always believed, there’s another “deal” right around the corner.

carnaught

@abacomike, regarding the new E. I suggest repeatedly getting in and out of the car to make sure it’s not a strain for you as you’re a big dude. This, not just the new financing, could be a deal breaker. Sorry, I do not mean to rain on your parade.

tifighter

Happy Friday. With today's random Craigslist post, you probably get more car per dollar than anything posted yet. If you're going by inches, anyhow.

oldfarmer50

abacomike said:

I need some advice from all you "mavens":

Which purchase option would you select?

36 months with $5000 down at 0% interest OR 48-72 months with $15,000 down at 2.99% interest?

36 months if you can afford the monthly payment. That extra $10k would make a lot of payments at 0%.

kyfdx

tifighter said:

Happy Friday. With today's random Craigslist post, you probably get more car per dollar than anything posted yet. If you're going by inches, anyhow.

My mother's '76 Lincoln had the same engine. Unimpressive, but I love the looks of that model.

stickguy

abacomike said:

I need some advice from all you "mavens":

Which purchase option would you select?

36 months with $5000 down at 0% interest OR 48-72 months with $15,000 down at 2.99% interest?

36 at zero%

tifighter

kyfdx said:

tifighter said:

Happy Friday. With today's random Craigslist post, you probably get more car per dollar than anything posted yet. If you're going by inches, anyhow.

My mother's '76 Lincoln had the same engine. Unimpressive, but I love the looks of that model.

With the Plood lining the outer rim of the steering wheel? What's not to love?

abacomike

Thanks to all of you for your input.

The only reason I am looking to get a new car now rather than November is because I won't get what I want in November at a price I am paying.

They are picking up 3 of 6 payments and my dealer just told me they will handle the remaining payments with some new factory money available to them.

As for financing, I am going to go the 36 months at 0% interest.

abacomike

carnaught said:

@abacomike, regarding the new E. I suggest repeatedly getting in and out of the car to make sure it’s not a strain for you as you’re a big dude. This, not just the new financing, could be a deal breaker. Sorry, I do not mean to rain on your parade.

I have already done that, carnaught. I just have to take it slower than I do in the S450.

stickguy

Good news if you are not eating lease payments after all.

abacomike

stickguy said:

Good news if you are not eating lease payments after all.

No, stick. I just have to pay the May payment - due tomorrow.

Remember, I am paying $63,000 for a $74,400 car. That is a terrific deal for an E450W4.

nyccarguy

driver100 said:

stickguy said:

well, this might be the cheapest car I ever saw for sale at a real car dealer. "as traded" usually means don't look too close, but I would really be interested in what is up with it to be that cheap. And why they would have it on the lot.

https://www.subaruofcherryhill.com/used/Hyundai/2009-Hyundai-Santa+Fe-cherry-hill-nj-bce8707b0a0e0a1716b9777b5840d0e8.htm

I'm back!

Obviously "as is". Cheaper than towing it to the scrap yard.

Welcome back to Chronic Car Buyers Anonymous! Now let's see what we can do about getting you into a newer car with one of them there fancy backup cameras

oldfarmer50

driver100 said:

oldfarmer50 said:

carnaught said:

Wasn’t on the C & C board since early morning and now I see it’s been closed. I’m bummed .

Last I check they just removed a bunch of even remotely political posts. Did something happen after that?

Anyway, I‘m reading about precipitous drops in used car prices. I imagine the high end cars you guy prefer would be less affected but the meat & potatoes basic car that I look at might be a bargain. I’m always on the look out for my son’s next a Uber car. My opinion on driving for ride share is that to make it work you need to reduce your capital investment by buying a basic car that is mostly depreciated. Otherwise the economics don’t seem to work. 10 year old +- domestic cars seem to fit the bill.

I see ads like this and wonder if I should take the plunge now or wait until I actually need one in a couple of years. It seems like some dealers are slashing prices big time.

https://www.easthillschevroletoffreeport.com/VehicleDetails/used-2011-Chevrolet-Malibu-LS-Freeport-NY/3591325703

Looks OK but for the extra price I think this one is a better buy;
2015 MALIBU LS
A 2011 20000 miles $7000 or
a 2015 9000 miles $11000

I can’t connect to that link you posted on the 2015 Malibu but all things being equal I would go for the newer car...except....

We’re talking about a car that is going to be used up in 2-3 years of Uber use no matter what. Depreciating a $11,000 capital expense is worse than depreciating a $7,000 one. Assuming 30k miles per year after 3 years what would be the difference in value between a 2011 with 120k and a 2015 with 99k? I’m guessing not $4k.

corvette

The 2015 is a newer body style, for whatever that’s worth. I had one as a rental before and it was unremarkable.

stickguy

I like that 2001 vintage. I had a couple as rentals that I drove long distance, and was way more impressed than I expected to be.

oldfarmer50

tifighter said:

Happy Friday. With today's random Craigslist post, you probably get more car per dollar than anything posted yet. If you're going by inches, anyhow.

Beautiful car but a 460 in 1976 was de tuned down to a shadow of it’s former self and I’d guess the pollution controls are why it “can take a few minutes to warm up” translation: it bucks and stalls and is generally undriveable.

Nice time to own an 8mpg car though.

stickguy

Cheap gas, and can’t go anywhere. Perfect.

kyfdx

@oldfarmer50 Isn't there an age limit on an Uber vehicle?

andres3

Okay, @oldfarmer50 or @nyccarguy has hidden a secret Audi punch from us, which one of you is confessing first?

https://www.newyorkupstate.com/news/2020/04/driver-cited-for-going-142-mph-in-a-55-mph-zone-on-new-york-parkway.html

How much is that ticket? $$$

tjc78

@abacomike
Excellent news they are picking up the payments... makes it much better IMO.

Carry on, and pictures when you get it!!

RE: Mark IV
I could never warm up to the IV. I much prefer the III and V.

suydam

@abacomike — I’m going to be the contrarian. Why not take the longer lease option, and pay as if you were going to pay it off in 36 mo? That way, given our unsettled economic climate, if you needed to pay less per month, you could. A 36 month lease locks you into a really hefty payment that leaves little room. If you’re sure you can swing it, ok.
That’s what we decided to do when buying out the Volt lease. We are paying as if to pay off in 36, but we could pay less if we needed to.

imidazol97

tjc78 said:

28firefighter said:

I'd be walking away - that S class is too subsidized and too nice to have to pay to get out of it, IMO.

Agreed 100% @abacomike I know you feel the deal is solid and things are better now, but that is just too much coin to throw out the window.

IIRC you put a large CCR on that S and you are basically giving 5 months of that too.

As much as I'd like to advocate a punch I'd walk, run that S until the last day of the lease and then make your deal.

What does "CCR" mean. I get Credence Clearwater Revival references trying to look it up on google... LOL

qbrozen

tifighter said:

Happy Friday. With today's random Craigslist post, you probably get more car per dollar than anything posted yet. If you're going by inches, anyhow.

Pretty car, but ain't no version of that worth $11k.

28firefighter

CCR - Capital Cost Reduction - what money down on a lease is called used to reduce the monthly payment by prepaying some of the depreciation upfront.

28firefighter

tifighter said:

Happy Friday. With today's random Craigslist post, you probably get more car per dollar than anything posted yet. If you're going by inches, anyhow.

Is Jimmy Hoffa in the trunk of that car?

tjc78

28firefighter said:

CCR - Capital Cost Reduction - what money down on a lease is called used to reduce the monthly payment by prepaying some of the depreciation upfront.

Thanks @28firefighter

Said another way... down payment on a lease above taxes/fee/first payment.

tifighter

28firefighter said:

tifighter said:

Happy Friday. With today's random Craigslist post, you probably get more car per dollar than anything posted yet. If you're going by inches, anyhow.

Is Jimmy Hoffa in the trunk of that car?

No, but he might be in the back of this one.

driver100

nyccarguy said:

driver100 said:

stickguy said:

well, this might be the cheapest car I ever saw for sale at a real car dealer. "as traded" usually means don't look too close, but I would really be interested in what is up with it to be that cheap. And why they would have it on the lot.

https://www.subaruofcherryhill.com/used/Hyundai/2009-Hyundai-Santa+Fe-cherry-hill-nj-bce8707b0a0e0a1716b9777b5840d0e8.htm

I'm back!

Obviously "as is". Cheaper than towing it to the scrap yard.

Welcome back to Chronic Car Buyers Anonymous! Now let's see what we can do about getting you into a newer car with one of them there fancy backup cameras

Thanks. I just wanted to see if I could find some of my old friends somewhere.
About trading in the C 250 for a car with a rear camera..........when I see that a 2015 Malibu, with 9000 miles is $11,000, and a 2011 with 10k miles is $7000, I couldn't possibly give up the 2014 C250 which runs beautifully for $11000. That would be criminal. Maybe when it starts to fall apart or cause trouble

roadburner

oldfarmer50 said:

tifighter said:

Happy Friday. With today's random Craigslist post, you probably get more car per dollar than anything posted yet. If you're going by inches, anyhow.

Beautiful car but a 460 in 1976 was de tuned down to a shadow of it’s former self and I’d guess the pollution controls are why it “can take a few minutes to warm up” translation: it bucks and stalls and is generally undriveable.

Nice time to own an 8mpg car though.

I remember reading that the 460 was originally planned to be the top of the Ford big block performance engine food chain in 1972, but the tightening emission standards nixed what would have been the 460 CJ.

driver100

oldfarmer50 said:

driver100 said:

oldfarmer50 said:

carnaught said:

Wasn’t on the C & C board since early morning and now I see it’s been closed. I’m bummed .

Last I check they just removed a bunch of even remotely political posts. Did something happen after that?

Anyway, I‘m reading about precipitous drops in used car prices. I imagine the high end cars you guy prefer would be less affected but the meat & potatoes basic car that I look at might be a bargain. I’m always on the look out for my son’s next a Uber car. My opinion on driving for ride share is that to make it work you need to reduce your capital investment by buying a basic car that is mostly depreciated. Otherwise the economics don’t seem to work. 10 year old +- domestic cars seem to fit the bill.

I see ads like this and wonder if I should take the plunge now or wait until I actually need one in a couple of years. It seems like some dealers are slashing prices big time.

https://www.easthillschevroletoffreeport.com/VehicleDetails/used-2011-Chevrolet-Malibu-LS-Freeport-NY/3591325703

Looks OK but for the extra price I think this one is a better buy;
2015 MALIBU LS
A 2011 20000 miles $7000 or
a 2015 9000 miles $11000

I can’t connect to that link you posted on the 2015 Malibu but all things being equal I would go for the newer car...except....

We’re talking about a car that is going to be used up in 2-3 years of Uber use no matter what. Depreciating a $11,000 capital expense is worse than depreciating a $7,000 one. Assuming 30k miles per year after 3 years what would be the difference in value between a 2011 with 120k and a 2015 with 99k? I’m guessing not $4k.

A few things though to factor in. One is the 2011 is in all probability need more repairs and sooner, and if we are considering the final net worth of the car - either the 2015 will last about a year longer because of lower mileage, or be worth a bit more because it is 3 years younger.

Here is the link, which I tried to shorten using the tools above, because it is so long;
https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=544673530&zip=33573&referrer=/cars-for-sale/searchresults.xhtml?zip=33573&startYear=2011&maxMileage=30000&incremental=all&endYear=2015&modelCodeList=MALI&makeCodeList=CHEV&listingTypes=USED&sortBy=relevance&firstRecord=0&marketExtension=off&searchRadius=200&trimCodeList=MALI%7CLS&isNewSearch=true&listingTypes=USED&startYear=2011&numRecords=25&firstRecord=0&endYear=2015&modelCodeList=MALI&makeCodeList=CHEV&searchRadius=200&clickType=listing

stickguy

andres3 said:

Okay, @oldfarmer50 or @nyccarguy has hidden a secret Audi punch from us, which one of you is confessing first?

https://www.newyorkupstate.com/news/2020/04/driver-cited-for-going-142-mph-in-a-55-mph-zone-on-new-york-parkway.html

How much is that ticket? $$$

I know that road well. It’s not a highway. It’s a 2 lane, windy, narrow scenic parkway with skimpy shoulders and tight ramps. I couldn’t imagine feeling safe at even 90 on that road.

At least the nearby N.Y. thruway is an interstate highway that could handle high speeds.

qbrozen

I accepted vroom's offer and uploaded what I have. I have a feeling they'll come back to tell me someone is wrong. I'm still a bit confused as to my payoff. I know HMF is funky. We'll see what happens.

stickguy

Did you just give them payoff from the website?

imidazol97

28firefighter said:

CCR - Capital Cost Reduction - what money down on a lease is called used to reduce the monthly payment by prepaying some of the depreciation upfront.

Thx

driver100

graphicguy said:

BTW....Mike, I’ll throw my hat into the ring on riding out the current lease. You love the car. You said there’s not much difference between it and a new one. Plus, it’s an “S“ over an “E”. I wouldn’t want to eat any lease payments.

As I’ve always believed, there’s another “deal” right around the corner.

GG, since when did wanting a new car become a rational sensible decision? Now, needing a new car is different....that means your current car is costing more than it is worth.

nyccarguy

andres3 said:

Okay, @oldfarmer50 or @nyccarguy has hidden a secret Audi punch from us, which one of you is confessing first?

https://www.newyorkupstate.com/news/2020/04/driver-cited-for-going-142-mph-in-a-55-mph-zone-on-new-york-parkway.html

How much is that ticket? $$$

Funny. That's near where I grew up (and my parents & sister still live). New York? The ticket is probably only $200. The surcharge is probably $2K.

ab348

oldfarmer50 said:

I can’t connect to that link you posted on the 2015 Malibu but all things being equal I would go for the newer car...except....

We’re talking about a car that is going to be used up in 2-3 years of Uber use no matter what. Depreciating a $11,000 capital expense is worse than depreciating a $7,000 one. Assuming 30k miles per year after 3 years what would be the difference in value between a 2011 with 120k and a 2015 with 99k? I’m guessing not $4k.

Plus the 2011 has more legroom in back, likely a good thing for Uber use, whereas the 2015 was criticized for its tight accommodations back there.

tjc78

I'd rock that '95 as is... full Florida and all.

Love a white over blue Town Car.

Same as my '89 was.

qbrozen

stickguy said:

Did you just give them payoff from the website?

No, I totally guessed. Based on my cap cost, the payoff includes sales tax, which should not be the case for Vroom. My personal payoff is $17.2k. Dealer payoff should be in the low 16s. But I've read too many horror stories with HMF, so I'm not counting any chickens.

driver100

ab348 said:

oldfarmer50 said:

I can’t connect to that link you posted on the 2015 Malibu but all things being equal I would go for the newer car...except....

We’re talking about a car that is going to be used up in 2-3 years of Uber use no matter what. Depreciating a $11,000 capital expense is worse than depreciating a $7,000 one. Assuming 30k miles per year after 3 years what would be the difference in value between a 2011 with 120k and a 2015 with 99k? I’m guessing not $4k.

Plus the 2011 has more legroom in back, likely a good thing for Uber use, whereas the 2015 was criticized for its tight accommodations back there.

Don't mention that to imid!

But that is worth thinking about....though for an older car being used for Uber......I don't know if it makes much difference. When we used Ubers a lot in Spain, some were luxurious, a big new Lexus, and some were minimal, you just get in and you get what you get.

driver100

tjc78 said:

I'd rock that '95 as is... full Florida and all.

Love a white over blue Town Car.

Same as my '89 was.

Now that Lincoln does make a nice limo type car....would even look good as a 2020 model. That would make a great Uber car!

tjc78

qbrozen said:

stickguy said:

Did you just give them payoff from the website?

No, I totally guessed. Based on my cap cost, the payoff includes sales tax, which should not be the case for Vroom. My personal payoff is $17.2k. Dealer payoff should be in the low 16s. But I've read too many horror stories with HMF, so I'm not counting any chickens.

From my experience with HMF a dealer payoff is always lower than what their website reports to you.

fintail

That C should keep going for a long time, late W204s especially aren't known to be bad. A retrofitted camera is also not impossible.

driver100 said:

I couldn't possibly give up the 2014 C250 which runs beautifully for $11000. That would be criminal. Maybe when it starts to fall apart or cause trouble

oldfarmer50

kyfdx said:

@oldfarmer50 Isn't there an age limit on an Uber vehicle?

It depends on the city. In New York City it’s 10 years old. Here in upstate it’s 15. So a 2011 would be good until 2026. It’s a balancing act between losing money by burning up a new car and buying a junker that costs a fortune in repairs.

oldfarmer50

abacomike said:

Thanks to all of you for your input.

The only reason I am looking to get a new car now rather than November is because I won't get what I want in November at a price I am paying.

They are picking up 3 of 6 payments and my dealer just told me they will handle the remaining payments with some new factory money available to them.

As for financing, I am going to go the 36 months at 0% interest.

Wow! It pays to have connections.

oldfarmer50

andres3 said:

Okay, @oldfarmer50 or @nyccarguy has hidden a secret Audi punch from us, which one of you is confessing first?

https://www.newyorkupstate.com/news/2020/04/driver-cited-for-going-142-mph-in-a-55-mph-zone-on-new-york-parkway.html

How much is that ticket? $$$

I wish. Although if I was able to afford a $130k car you bet your fanny I would have it up to a 142 and not care about the tickets. Ramapo is pretty far from me and I wouldn’t be speeding on a parkway full of cops and other cars.

BTW, nycarguy lives in CT I believe.

oldfarmer50

driver100 said:

oldfarmer50 said:

driver100 said:

oldfarmer50 said:

carnaught said:

Wasn’t on the C & C board since early morning and now I see it’s been closed. I’m bummed .

Last I check they just removed a bunch of even remotely political posts. Did something happen after that?

Anyway, I‘m reading about precipitous drops in used car prices. I imagine the high end cars you guy prefer would be less affected but the meat & potatoes basic car that I look at might be a bargain. I’m always on the look out for my son’s next a Uber car. My opinion on driving for ride share is that to make it work you need to reduce your capital investment by buying a basic car that is mostly depreciated. Otherwise the economics don’t seem to work. 10 year old +- domestic cars seem to fit the bill.

I see ads like this and wonder if I should take the plunge now or wait until I actually need one in a couple of years. It seems like some dealers are slashing prices big time.

https://www.easthillschevroletoffreeport.com/VehicleDetails/used-2011-Chevrolet-Malibu-LS-Freeport-NY/3591325703

Looks OK but for the extra price I think this one is a better buy;
2015 MALIBU LS
A 2011 20000 miles $7000 or
a 2015 9000 miles $11000

I can’t connect to that link you posted on the 2015 Malibu but all things being equal I would go for the newer car...except....

We’re talking about a car that is going to be used up in 2-3 years of Uber use no matter what. Depreciating a $11,000 capital expense is worse than depreciating a $7,000 one. Assuming 30k miles per year after 3 years what would be the difference in value between a 2011 with 120k and a 2015 with 99k? I’m guessing not $4k.

A few things though to factor in. One is the 2011 is in all probability need more repairs and sooner, and if we are considering the final net worth of the car - either the 2015 will last about a year longer because of lower mileage, or be worth a bit more because it is 3 years younger.

Here is the link, which I tried to shorten using the tools above, because it is so long;
https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=544673530&zip=33573&referrer=/cars-for-sale/searchresults.xhtml?zip=33573&startYear=2011&maxMileage=30000&incremental=all&endYear=2015&modelCodeList=MALI&makeCodeList=CHEV&listingTypes=USED&sortBy=relevance&firstRecord=0&marketExtension=off&searchRadius=200&trimCodeList=MALI%7CLS&isNewSearch=true&listingTypes=USED&startYear=2011&numRecords=25&firstRecord=0&endYear=2015&modelCodeList=MALI&makeCodeList=CHEV&searchRadius=200&clickType=listing

Boy, that is dirt cheap. $4100 price drop. That’s a good example of what I was talking about. Dealers may be dumping cars. The CarFax shows an accident but it’s a minor (less than $1000) one.

Do you think they’ll honor that home delivery promise from Fort Lauderdale?

ab348

fintail said:

That C should keep going for a long time, late W204s especially aren't known to be bad. A retrofitted camera is also not impossible.

We had several pages of discussion on that very question over in the dearly-departed C&C board.

imidazol97

oldfarmer50 said:

kyfdx said:

@oldfarmer50 Isn't there an age limit on an Uber vehicle?

It depends on the city. In New York City it’s 10 years old. Here in upstate it’s 15. So a 2011 would be good until 2026. It’s a balancing act between losing money by burning up a new car and buying a junker that costs a fortune in repairs.

The 2015 Malibu LS has nice room in the back. It is equal or greater than some of its peers. I looked it up when all the kvetching about rear room on 2013- Malibus was the meme.

But there is something about the position of the B-pillar that makes getting into the rear seat feel tighter. You just set your rump on the seat with legs out and then rotate and you don't notice the B-pillar as much. Sort of like the guys on Motorweek do to make the rear seat entry they do when testing look like the room in some of those is more ample than it likely is. Takes practice.