Chronic Car Buyers Anonymous (Archived)

breld

I had an ‘07 530xi, the year before they released the 535. But yea, sport manual.

breld

E91 Msport manual with reasonable miles?

https://bringatrailer.com/listing/2011-bmw-328-56/

Boring color combo, but it’ll be interesting to see what this goes for.

xwesx

dad23 said:

45/4

That's either showing a lot of faith in the rest of us, or includes the prediction of many new members to the fold! @breld typically accounts for 15-20% of our annual total....

xwesx

explorerx4 said:

@oldfarmer50,
What makes it is unicorn, besides being a 2018, is that is is a diesel.

Incredibly boring colors, but that thing is loaded... and the diesel is a big plus for me. Actually seems like a decent price given the price point where @explorerx4's prior unit finally sold.

venture

corvette said:

kyfdx said:

corvette said:

Are you married?

Not that I can remember!

Tried to resecure the shark fin on the Tundra with 3M auto body adhesive tape. It appears it has a thin lip at the edge and is hollow towards the middle, so the tape didn't help. Ran the truck through the car wash, and the headliner is as dry as a bone. I'm going to call it good unless it starts leaking.

I don't remember the picture, but can't you apply clear silicone caulk around the base and along the crack (assuming there is a crack)?

Oops. I see our Farmer said almost the same thing.

nyccarguy

Michaell said:

Hypothetical question - you have $25K in cash, not earmarked for any other purpose. Do you pay cash for a car up to that price point, or do you finance it and bank the cash?

Asking for a friend...

Hypothetical (of course), if I were to buy something used or CPO (more than 3 years old), I’d pay cash for it. Low mileage, well cared for, perfect 1-2 year old cream puff I’d be comfortable financing at low rate. Put 1/2 down on the car so you have a low payment & stick the rest away for a rainy day.

tjc78

Keep the cash and finance the car. Interest rates are too low to outlay that much cash IMO.

corvette

I'm going to be a contrarian on this one and say that paying $25k cash for a vehicle which could have been financed at 2% interest is similar to buying a bond with a 2% yield. If your portfolio is otherwise in good shape, it may not be necessary to take on additional leverage.

stickguy

finance assuming the rates are low. I look at it this way. You have to finance the purchase ($25K) somehow. You can let the captive do it, a bank or CU, or do it yourself. But someone is financing the up front nut.

so just decide, would you rather invest your $25k in financing a car loan, or leave it in the market?

one option on new, if you are planning to pay cash to feel like you "own" a car, is take the inflated rate to get extra purchase cash, then pay off the loan early.

kyfdx

Michaell said:

Hypothetical question - you have $25K in cash, not earmarked for any other purpose. Do you pay cash for a car up to that price point, or do you finance it and bank the cash?

Asking for a friend...

If it's cash in a money market account, I pay cash. If they have 0% financing that doesn't increase the price of the car (rare), then I'd finance it.

graphicguy

Michaell said:

28firefighter said:

Depends on what your money is doing for you. My opinion is you bank it and put it in the market to grow given market performance right now. Especially given how low rates are generally speaking.

The money isn't doing anything for me now - it's not in my possession. Hence the word hypothetical.

Just had this discussion with my son. It may be because I’ve stuck my toes in the real estate market recently, but I think the best investment for $25K is to put it into your house (mechanical or cosmetics). I’ve become more “liquid” since I switched investment strategies upon retiring. I keep looking for a vehicle that’s safer than the market to put money. Ergo, looking at rental property (again).

I suppose you could take a chance on BITCOIN if you’re feeling lucky!

Or, since you’re already here, buy a 2018 KIA Stinger. Appreciation won’t be a thing, but you’ll make up for it in smiles.

corvette

graphicguy said:

I think the best investment for $25K is to put it into your house (mechanical or cosmetics).

Agree, up to a point. It's also possible to over-improve a house beyond its neighborhood, though, and that's one of the reasons I have hesitated to spend big money on replacing my deck with a composite product. I'm thinking I can fix the existing one fairly inexpensively by replacing a few boards, stripping, and staining it, if it's not too much trouble to strip the existing solid stain from the wood.

Rentals are an interesting investment. The cash flow is attractive, but you also get hit with occasional unexpected capital expenditures. Mine have done well, but I'm glad I have other investments that are more "set and forget."

Michaell

Thanks, all, for the opinions.

Not sure I'd want to do a lot to the current house, as my grand plan is to eventually sell it and move somewhere warmer. Use the equity from this house to pay half - or more - on the next house, and try to bank the rest.

I'd like to get one more nice car as I move closer to retirement age.

sda

What @kyfdx said, but if financing, put enough down that you aren't upside down with negative equity. Invest the difference.

kyfdx

Of course, if you only have $25K in cash, you shouldn't put it all into a new car.

28firefighter

kyfdx said:

Of course, if you only have $25K in cash, you shouldn't put it all into a new car.

Fair point. My comment assumes $25k cash is in addition to enough liquidity to cover 6 months of living expenses, adequate retirement funding, etc etc.

corvette

sda said:

What @kyfdx said, but if financing, put enough down that you aren't upside down with negative equity. Invest the difference.

If you aren't planning to spend the $25k or invest it in something that could lose a large percentage of its value, I don't see great harm in having negative equity, since you would theoretically still have the funds available to pay off the negative equity if needed.

Michaell

28firefighter said:

kyfdx said:

Of course, if you only have $25K in cash, you shouldn't put it all into a new car.

Fair point. My comment assumes $25k cash is in addition to enough liquidity to cover 6 months of living expenses, adequate retirement funding, etc etc.

Yes, I agree with that sentiment.

The $25K wouldn't represent all the liquidity I'd have at the time. Also, I've been told that my dad's survivor pension will cascade to my sister and I when my mom passes, so that money could be used to cover a car payment.

sb55

Some of us are old enough for SSI and have decisions to make.
My "full" retirement age is 66 year, 2 months, which will be in March, 2021. As far as I can tell, if I wait until I'm 70, the benefit will grow about 8% per year. We're doing OK money and health wise, so my plan, right now, is to wait since we don't really need the money. We hope to buy a snowbird house somewhere South, and the SSI $ will cover a pretty good mortgage.
Decisions like this are never cut and dried.

stickguy

most of the financial sites/articles recommend delaying to age 70 if you can, since the money grows significantly. I think it ends up being by 82 or so that you are ahead?

reasons not to wait are if you are pretty sure you won't live that long, or have immediate financial need.

always an individual analysis to a decision.

Sandman6472

0% financing, great idea but I've never been able to use it as I'm always out of sync with buying and when it's offered. But, I'd be on it real quick, if in the future, it's offered when I'm ready to make a move. But, up to now, never used it. And since there's nothing out there that I've got to have, we'll just sit on the sidelines and wait. But am ready to pounce once that perfect vehicle comes into view. Funny thing, my limit is $25K plus whatever my Golf can pull in...that's where my comfort level ends. Period!

Michaell

stickguy said:

most of the financial sites/articles recommend delaying to age 70 if you can, since the money grows significantly. I think it ends up being by 82 or so that you are ahead?

reasons not to wait are if you are pretty sure you won't live that long, or have immediate financial need.

always an individual analysis to a decision.

I just looked at the SS website - about $800/mo difference between 67 and 70, for me.

roadburner

sb55 said:

Some of us are old enough for SSI and have decisions to make.
My "full" retirement age is 66 year, 2 months, which will be in March, 2021. As far as I can tell, if I wait until I'm 70, the benefit will grow about 8% per year. We're doing OK money and health wise, so my plan, right now, is to wait since we don't really need the money. We hope to buy a snowbird house somewhere South, and the SSI $ will cover a pretty good mortgage.
Decisions like this are never cut and dried.

I’m definitely waiting until 70.

qbrozen

I'm assuming SS will be gone by the time I am old enough.

28firefighter

qbrozen said:

I'm assuming SS will be gone by the time I am old enough.

+1

kyfdx

With a married couple, claiming decisions can be weird, if you really want to get in the weeds. The whole point of waiting until 70, is that one person is likely to live until 90+, and you'll collect that extra amount for a long time. But, that's only likely to be one of you. So, in reality, only the higher SSA benefit collector needs to wait until 70. But, if you have equal benefits, or are of widely disparate age, then that is another factor.

We are 18 months apart in age, but with similar benefit amounts (when we collect). One of us might take it at full retirement age (66y4mo or 66yr8mo), while the other waits until 70. Or, we might both wait until 70, and do as much Roth conversion as possible, in the interim, at the lower tax bracket amount.

My wife hits full retirement age first, but that isn't until some time in 2023, so we have time to think about it.

Getting through the whole conversion to Medicare, and choosing Medigap supplement or Advantage plans will be our next bridge to cross (in December for my wife).

explorerx4

I just applied for Original Medicare a few weeks ago.
Was originally going to file for SS March 1st, but I think I'm going to wait until March 2022.
If you start collecting before your FRA year, there is a low income limit you can earn before your SS benefit gets reduced.
Been collecting unemployment since June, but I saved it all and more until about December.
The extended benefits and extra Federal(11 weeks) should help carry me through most of this year.

oldfarmer50

Michaell said:

oldfarmer50 said:

Michaell said:

nyccarguy said:

corvette said:

Michaell said:

And, I still have mom's Sonata available to me in CA if need be - just have to go out and get it.

But, would that count as a punch?

Yes. It is an acquisition. It counts! Plus. He’s a host;). He gets special privileges;)

3 cheers for @corvette who keeps our count going year after year! Many thanks my friend!

Almost 4.5 years since the last one - the Jetta lease.

Still managing just fine sharing the Outback.

For a free car I’d drive to California from NY. You’re 3/4 the way there already.

2/3. 1100 mile drive, give or take. It’s had about $1500 worth of work done on it recently. Could stand to have a good interior detailing, and a new CarPlay compatible head unit and a rear camera.

Free car AND $1500 worth of reconditioning? You truly lead a blessed life.😄

oldfarmer50

breld said:

Did a little browsing this morning...mostly cause I felt like getting the Supra out.

This reignited my interest in Audis as I’ve been back on a BMW kick for awhile now...

https://www.schomphonda.com/inventory/used-2016-audi-s5-premium-plus-awd-2dr-car-wauc4afr3ga024145

That first gen A5/S5 is such a nice clean design IMO.

There have also been a few TTs and TTSs showing up locally - wouldn’t mind the lower power of the TT for the benefit of the drop top.

In any case, I’m thinking $30k-ish as a budget for the next fun car. I got spoiled with the wife encouraging me to go for the Supra - but when I sit back and think about it, I went from the 2014 228i that I paid $17k for and LOVED, to more than doubling that (actually closer to tripling it) for the Supra as my fun car. And then I start looking at cars that are “equal” like an M2...when I should probably dial it back again.

I’m thinking I’ll get back into a manual again...a used Audi/BMW could fit the bill, but may feel better about getting back into a Miata. We shall see.

That white is a nice look for an Audi. Interior isn’t black which is also a plus.

stickguy

it is a black interior though.

Michaell

oldfarmer50 said:

Michaell said:

oldfarmer50 said:

Michaell said:

nyccarguy said:

corvette said:

Michaell said:

And, I still have mom's Sonata available to me in CA if need be - just have to go out and get it.

But, would that count as a punch?

Yes. It is an acquisition. It counts! Plus. He’s a host;). He gets special privileges;)

3 cheers for @corvette who keeps our count going year after year! Many thanks my friend!

Almost 4.5 years since the last one - the Jetta lease.

Still managing just fine sharing the Outback.

For a free car I’d drive to California from NY. You’re 3/4 the way there already.

2/3. 1100 mile drive, give or take. It’s had about $1500 worth of work done on it recently. Could stand to have a good interior detailing, and a new CarPlay compatible head unit and a rear camera.

Free car AND $1500 worth of reconditioning? You truly lead a blessed life.😄

Yeah, but not everything was done. Still could use the timing belt/water pump. Should I ever get to CA to collect it, I might get it done before coming back to Colorado. My sister says it runs great.

oldfarmer50

sb55 said:

Some of us are old enough for SSI and have decisions to make.
My "full" retirement age is 66 year, 2 months, which will be in March, 2021. As far as I can tell, if I wait until I'm 70, the benefit will grow about 8% per year. We're doing OK money and health wise, so my plan, right now, is to wait since we don't really need the money. We hope to buy a snowbird house somewhere South, and the SSI $ will cover a pretty good mortgage.
Decisions like this are never cut and dried.

If you plan on working after retirement it’s best to wait until your full retirement age. You’re right you gain about 8% a year but remember, you can be healthy today and not tomorrow.

I know when you say SSI you mean social security. SSI is a program for the poor.

Personally, I took social security at 62 with the intention of using it as a supplement to my earned income. That turned out to be a terrible decision because my income went up resulting in a give back of most of the benefit. At the time you were able to cancel the whole thing which I did and then retired from from my job at 65. I lost 8% over what I would have received at 66. It was the right choice for me but YMMV.

fintail

My mom held out until 70 to file for SS, not just for the money but for health insurance from her old employer. My dad did it right at 62, but usually had a side job to give him something to do and create extra cash flow.

I'll second the idea of being unsure of the program's survival by the time I retire (min. age probably 70 by then), it'll probably be cut in the name of some trickle down insanity that ends up just making things worse.

corvette

I have at least 23 years until I'm eligible. I'm sure it will still be around, but agree we'll probably see further hikes in the age to obtain full benefits, and possibly the minimum age, as well.

cdnpinhead

So, do you feel lucky, punk?

My health isn't all that great, so betting the farm on getting to 80 didn't sound like a good plan to me. I waited until my wife ((3 years younger) was old enough to qualify for medicare, then signed us both up for Social Security benefits and medicare.

If, by some chance I live to 80 or thereabouts, I'll regret my choice. In the meantime I'll be living off my 401(K) fund.

stickguy

ideally you end up in a position where you have enough to live the way you want without SS, so that becomes "gravy" money. Of course, many people don't get to that ideal.

oldfarmer50

stickguy said:

it is a black interior though.

Was I looking at the wrong pictures in that ad? I’m sure I clicked on something that showed a red seat.



Oh I see, those interior photos state “may not represent actual car”. That’s kind of sneaky.

oldfarmer50

corvette said:

I have at least 23 years until I'm eligible. I'm sure it will still be around, but agree we'll probably see further hikes in the age to obtain full benefits, and possibly the minimum age, as well.

You have to remember that back in the 1930s they didn’t expect many people to make it to 65 in order to collect. Now, with longer life expectancy the original expectations no longer apply. Something will have to be done as has been done in the past.

In any event funding your own 401k usually outperforms SS ROI.

stickguy

looks like the Son has gotten going on his looking for the next car (since his lease ends in December, and he learned from the best, that you need to plan ahead!) Sent me a link to a Caddy CT5-V (if I got the alphabet soup correct) that he liked. Not something that had been on his radar, but he kept getting ads sent to him for it. Certainly worth looking at as a competitor to a G70 or the new TLX S type. Both also on his list, along with the upcoming Genesis smaller CUV (GV70). And the usual M340i and some Audi (S4 maybe). And I am sure more to be added to the list.

ab348

CT5-V is a decent car because it has the bigger turbo 4 IIRC and is in a higher state of trim than the normal CT5 models. If he can live with the awkward rear door greenhouse/C-pillar treatment it might be a good deal.

tjc78

I’d wager that they don’t lease worth a damn. Every time I’ve looked at Caddy’s the leases are terrible.

Michaell

tjc78 said:

I’d wager that they don’t lease worth a damn. Every time I’ve looked at Caddy’s the leases are terrible.

I get a few lease inquiries on them, but can't remember seeing anyone post an actual lease deal.

Same with the CT4, for that matter.

ab348

tjc78 said:

I’d wager that they don’t lease worth a damn. Every time I’ve looked at Caddy’s the leases are terrible.

Depends. GM often subsidizes Caddy leases quite well at certain times of the year, at least here in Canada.

oldfarmer50

stickguy said:

looks like the Son has gotten going on his looking for the next car (since his lease ends in December, and he learned from the best, that you need to plan ahead!) Sent me a link to a Caddy CT5-V (if I got the alphabet soup correct) that he liked. Not something that had been on his radar, but he kept getting ads sent to him for it. Certainly worth looking at as a competitor to a G70 or the new TLX S type. Both also on his list, along with the upcoming Genesis smaller CUV (GV70). And the usual M340i and some Audi (S4 maybe). And I am sure more to be added to the list.

I can relate to that. I haven’t bought a car in 6 months and those old feelings are starting to stir. The trouble is that my fleet is running fine at the moment which is usually my motivation to buy. The cargo van is the highest milage (121k) and the junkiest so I might replace it with a small truck. Too bad trucks are sky high right now.

My other alternative is to get another convertible to replace the Sebring. I don’t need a fast car (I have one of those) more a nice top down cruiser for sunny day touring.

My criterion would be $10k price limit and standard shift if possible. I was thinking another Mustang. A 2005-09 V6 would be ok as it would outpower the Sebring by 40hp. If I got one 2004 or older it would have to be a GT because I wouldn’t trust the old Ford 3.8 V6.

I might even consider an early 2000s Camaro.

My biggest concerns would be reliability as I wouldn’t want my Sunday drive spoiled.

So far my searches have been disappointing except to see how well Mustangs hold their value.

roadburner

I may have waited too late to check out a Supra; the 0.9% internet rate and $1500 rebate expired yesterday.

Michaell

oldfarmer50 said:

stickguy said:

looks like the Son has gotten going on his looking for the next car (since his lease ends in December, and he learned from the best, that you need to plan ahead!) Sent me a link to a Caddy CT5-V (if I got the alphabet soup correct) that he liked. Not something that had been on his radar, but he kept getting ads sent to him for it. Certainly worth looking at as a competitor to a G70 or the new TLX S type. Both also on his list, along with the upcoming Genesis smaller CUV (GV70). And the usual M340i and some Audi (S4 maybe). And I am sure more to be added to the list.

I can relate to that. I haven’t bought a car in 6 months and those old feelings are starting to stir. The trouble is that my fleet is running fine at the moment which is usually my motivation to buy. The cargo van is the highest milage (121k) and the junkiest so I might replace it with a small truck. Too bad trucks are sky high right now.

My other alternative is to get another convertible to replace the Sebring. I don’t need a fast car (I have one of those) more a nice top down cruiser for sunny day touring.

My criterion would be $10k price limit and standard shift if possible. I was thinking another Mustang. A 2005-09 V6 would be ok as it would outpower the Sebring by 40hp. If I got one 2004 or older it would have to be a GT because I wouldn’t trust the old Ford 3.8 V6.

I might even consider an early 2000s Camaro.

My biggest concerns would be reliability as I wouldn’t want my Sunday drive spoiled.

So far my searches have been disappointing except to see how well Mustangs hold their value.

I thought the Mustang used the 4.0 V6 - same engine as in our 2002 Explorer.

breld

roadburner said:

I may have waited too late to check out a Supra; the 0.9% internet rate and $1500 rebate expired yesterday.

I've gotta think it'll be renewed. That rebate got up to $3,000 last June (prompting my purchase).

oldfarmer50

Michaell said:

oldfarmer50 said:

stickguy said:

looks like the Son has gotten going on his looking for the next car (since his lease ends in December, and he learned from the best, that you need to plan ahead!) Sent me a link to a Caddy CT5-V (if I got the alphabet soup correct) that he liked. Not something that had been on his radar, but he kept getting ads sent to him for it. Certainly worth looking at as a competitor to a G70 or the new TLX S type. Both also on his list, along with the upcoming Genesis smaller CUV (GV70). And the usual M340i and some Audi (S4 maybe). And I am sure more to be added to the list.

I can relate to that. I haven’t bought a car in 6 months and those old feelings are starting to stir. The trouble is that my fleet is running fine at the moment which is usually my motivation to buy. The cargo van is the highest milage (121k) and the junkiest so I might replace it with a small truck. Too bad trucks are sky high right now.

My other alternative is to get another convertible to replace the Sebring. I don’t need a fast car (I have one of those) more a nice top down cruiser for sunny day touring.

My criterion would be $10k price limit and standard shift if possible. I was thinking another Mustang. A 2005-09 V6 would be ok as it would outpower the Sebring by 40hp. If I got one 2004 or older it would have to be a GT because I wouldn’t trust the old Ford 3.8 V6.

I might even consider an early 2000s Camaro.

My biggest concerns would be reliability as I wouldn’t want my Sunday drive spoiled.

So far my searches have been disappointing except to see how well Mustangs hold their value.

I thought the Mustang used the 4.0 V6 - same engine as in our 2002 Explorer.

If I’m remembering right the Mustang V6 prior to 2005 was the 3.8L. 2005-09 used the 4.0L which was ridiculed by most enthusiasts because it only put out 210hp and because...well...it wasn’t a V8. I wouldn’t be worried about 10hp difference but the 3.8L had a reputation for blowing heads whereas the 4.0L was a truck/SUV motor.

28firefighter

This car is vastly underpriced - they have it priced like a GTI S when in fact it is a GTI Autobahn. Too bad it isn't a manual and is the older 6-spd DSG...

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=571878316

breld

So I'll get to do a search over the next few months and only have to pay half of the vehicle cost...

My 15 year old will get his license in April and will inherit his brother's 2011 MDX, and their mom and I plan on buying a new car for the 17 year old (he'll turn 18 and graduate HS in May).

He definitely wants an SUV of some sort, and I'm thinking a budget of $20-25k (not entirely sure what my ex is thinking, so that could change).

Based on looking at local listings, my initial thoughts are:

• 2018-2020 CX-5
  
• 2017-2018 CR-V
  
• 2017-2018 RDX
  
• 2019-2020 Santa Fe (or Tuscon)
  

If he and his mom prefer a larger SUV closer to the size of his MDX (not sure why, but we'll see)...

• 2017-2018 Pilot
  
• 2017-2018 Highlander
  
• 2018-2019 CX-9
  

Those CR-Vs hold their value so well it's ridiculous. Seems like some of the larger SUVs are actually better buys. And based on my initial search, a previous gen RDX also seems like a stronger value than the CR-V.

My initial top choice would be a CX-5 - great SUV with all the safety tech but at a much better value than the Hondas and Toyotas.