Chronic Car Buyers Anonymous (Archived)

sda

My loan on my 80 Mazda 626 in 83 was 15%/36 mo. $106/mo thru Allstate. Supposedly that was an employee rate as I worked for Dean Witter, part of the then Sears Financial Network.

tifighter

Michaell said:

stickguy said:

I think I probably had 8-10% back in the 80s. Much cheaper cars though!

If the interest rate increase is too much to handle, you (not you personally, the royal you) probably are spending too much on the car anyway. So don’t buy, or get something cheaper.

"But I want the Belchfire Unobtanium trim with the optional hydra-duty transmission and rich Corinthian leather"

And now you begin to understand how people are ending up with $1K/mo car payments.

I'm pretty sure I had a few loans in the 80's at that rate as well. I think the most expensive car we got at that time was the '88 Isuzu Trooper, which was a dealer demo and we got it for $17K.

I had a 94 Trooper back in the day. In burgundy.

qbrozen

Took off the upper timing cover of the Nissan and everything is in order. Hmmm. While buttoning it back up, I found a loose vacuum clamp and a … fuse? Of some sort unplugged. Fixed those and it seemed to be running well again. Of course, I was down this road before. Took it out. It left the driveway good but soon after developed its hiccup again. Huh. Pulled over and started playing with things. At some point, I turned off the AC and it smoothed out like buttah. Double huh. Took it back out and decided maybe she needs a good ole Italian tuneup. Drove the snot out of it for a few miles. I should mention I also found that the good folks at Nissan in the 90s saw fit to allow manual shifting of the autobox that can’t be overridden by the computer. Yay!
By the time we got home (had my oldest with me), she was purring. Could even spin the tires a little on takeoff. Fingers crossed.

oldfarmer50

stickguy said:

oldfarmer50 said:

breld said:

We were contacted by our Ford dealer to convert our 2022 Bronco order to a 2023...this was the order we placed before finding ours in Michigan. What the heck...why not. So we updated our order to a 2-door Heritage Edition in cactus gray with the white top. Which basically looks like my wife's old MINIs she had, but on steroids.

So what’s the plan for the one you have now, flip it when the new one arrives? Will the market still be kind to you by then?

You need to keep up. The Breld Bronco has long since been sent down the road.

You can’t tell the players around here without a program, for sure.

nyccarguy

I have some very good news to report here. Tomorrow morning at 9:00 AM, Carvana will be picking up my 2023 4Xe Rubicon. MSRP of $61K ish. Any guesses as to what they are buying it for? My buyout is $51K ish.

qbrozen

Michaell

tifighter said:

Michaell said:

stickguy said:

I think I probably had 8-10% back in the 80s. Much cheaper cars though!

If the interest rate increase is too much to handle, you (not you personally, the royal you) probably are spending too much on the car anyway. So don’t buy, or get something cheaper.

"But I want the Belchfire Unobtanium trim with the optional hydra-duty transmission and rich Corinthian leather"

And now you begin to understand how people are ending up with $1K/mo car payments.

I'm pretty sure I had a few loans in the 80's at that rate as well. I think the most expensive car we got at that time was the '88 Isuzu Trooper, which was a dealer demo and we got it for $17K.

I had a 94 Trooper back in the day. In burgundy.

Pure luxury compared to ours.

corvette

oldfarmer50 said:

qbrozen said:

I’m gonna go Borla active sport cherry bomb exhaust on the Suzuki. How else can I unleash all 660 ccs of fury?

With a motor that size do you really need a muffler? You might want to get something that makes it sound like a Lamborghini.🤪

I'm sure you could make a Capristo exhaust fit it.

corvette

explorerx4 said:

I was just checking auto loan rates. Most are higher than I've ever paid.

My HELOC rate increased to 7.74% after the latest Fed meeting. Thankfully, I paid off the balance after selling a rental property. Also, the house next door just sold, and I realized it would be difficult for me to buy in my current neighborhood today between the increased prices since I bought my place in 2015 and the current high interest rates.

I'm glad Ford appears to be honoring the interest rates for 2022 Mavericks that were offered at the time of order. 0% or 0.9% or 1.9% is a bargain in these times.

corvette

Speaking of which, checked the Ford order tracker, and it said my dealer should be contacting me soon, which I believe means my Mav is on their lot. Maybe my sighting yesterday was a sign from the universe!

tommister2

@nyccarguy said:
I have some very good news to report here. Tomorrow morning at 9:00 AM, Carvana will be picking up my 2023 4Xe Rubicon. MSRP of $61K ish. Any guesses as to what they are buying it for? My buyout is $51K ish.

58k

Michaell

nyccarguy said:

I have some very good news to report here. Tomorrow morning at 9:00 AM, Carvana will be picking up my 2023 4Xe Rubicon. MSRP of $61K ish. Any guesses as to what they are buying it for? My buyout is $51K ish.

$54,500

stickguy

$29,995.

Michaell

stickguy said:

$29,995.

I can tell you’ve never played The Price is Right.

stickguy

Michaell said:

stickguy said:

$29,995.

I can tell you’ve never played The Price is Right.

can't win the showcase if you go over!

oldfarmer50

Michaell said:

stickguy said:

$29,995.

I can tell you’ve never played The Price is Right.

From what I’ve heard of Carvana’s problems I would cash that check right away.

Michaell

stickguy said:

Michaell said:

stickguy said:

$29,995.

I can tell you’ve never played The Price is Right.

can't win the showcase if you go over!

Oop, you're right - I had it backwards.

Found out my ex, son and DIL went to a taping of TPIR a couple months back. Didn't get called to participate.

jmonroe1

Michaell said:

stickguy said:

Michaell said:

stickguy said:

$29,995.

I can tell you’ve never played The Price is Right.

can't win the showcase if you go over!

Oop, you're right - I had it backwards.

Found out my ex, son and DIL went to a taping of TPIR a couple months back. Didn't get called to participate.

————————————————-
If they were from Cleveland it might have helped.

jmonroe

xwesx

nyccarguy said:

I have some very good news to report here. Tomorrow morning at 9:00 AM, Carvana will be picking up my 2023 4Xe Rubicon. MSRP of $61K ish. Any guesses as to what they are buying it for? My buyout is $51K ish.

$55,100

corvette

Eleventy billion dollars!

nyccarguy

@Michaell said:
I can tell you’ve never played The Price is Right.

@stickguy is “the guy” who bets $1 - and wins

oldfarmer50

nyccarguy said:

@Michaell said:

I can tell you’ve never played The Price is Right.

@stickguy is “the guy” who bets $1 - and wins

Speaking of winning, the PowerBall for tomorrow is $1.5 BILLION. I have two tickets, one of which is the winner so don’t waste your money.

henryn

I almost never play the lottery, any of the lotteries. I have made an exception in the past, when the payoff gets really big. I can't remember the last time I did, must have been at least 5 or 6 years. But I think I just might invest in a ... what do you call it, a "Quick Pick"?

ab348

The dealer where I got my last 3 cars had a 2021 Cadillac CT5 (the CTS replacement) with 24,000km (a bit over 14K miles) pop up on their website. 3.0 twin-turbo V6, white over beige/black inside. Interior is handsome, white exterior doesn’t really work for me due to the black plastic filler piece in the C-pillar unfortunately. Asking $50K in worthless Canadian dollars. If it was a different color it might be tempting.

https://www.oregans.com/inventory/Used-2021-Cadillac-CT5-PREMIUM-LUXURY-AWD-UF857/

nyccarguy

@ab348 said:
The dealer where I got my last 3 cars had a 2021 Cadillac CT5 (the CTS replacement) with 24,000km (a bit over 14K miles) pop up on their website. 3.0 twin-turbo V6, white over beige/black inside. Interior is handsome, white exterior doesn’t really work for me due to the black plastic filler piece in the C-pillar unfortunately. Asking $50K in worthless Canadian dollars. If it was a different color it might be tempting.

https://www.oregans.com/inventory/Used-2021-Cadillac-CT5-PREMIUM-LUXURY-AWD-UF857/

Nice car for sure. Handsome, sport sedan styling. Much bigger than your current ATS. You don’t see them all over the place like modern MBs, BMWs, & Audis.

xwesx

nyccarguy said:

@stickguy is “the guy” who bets $1 - and wins

Based on this, I'd say things were a lot slimmer than we were gauging. Hopefully not a loss? What about $51,100?

stickguy

given some of the reported crashing in the wholesale market, anything that is not a loss should be considered a win!

nyccarguy

@xwesx said:
Based on this, I'd say things were a lot slimmer than we were gauging. Hopefully not a loss? What about $51,100?

No. I was just making a comment about knowing that IF @stickguy was on the real PIR, he’d be the guy bidding $1. Nothing to do with my Wrangler.

stickguy

$53,500 but they ask you to wait until Wednesday to deposit the check.

kyfdx

tifighter said:

Michaell said:

stickguy said:

I think I probably had 8-10% back in the 80s. Much cheaper cars though!

If the interest rate increase is too much to handle, you (not you personally, the royal you) probably are spending too much on the car anyway. So don’t buy, or get something cheaper.

"But I want the Belchfire Unobtanium trim with the optional hydra-duty transmission and rich Corinthian leather"

And now you begin to understand how people are ending up with $1K/mo car payments.

I'm pretty sure I had a few loans in the 80's at that rate as well. I think the most expensive car we got at that time was the '88 Isuzu Trooper, which was a dealer demo and we got it for $17K.

I had a 94 Trooper back in the day. In burgundy.

When we leased our '94 Vigor, it was from an Acura/Isuzu dealer. Troopers in the showroom.

greg128

Looks like dealers especially used are in for a rough time as indicated here:

https://www.youtube.com/watch?v=PB8wcvEt-dU

The good news is that used car buyers should be able to get better deals. I also notice new car inventory rebounding and as a result there are inexpensive lease advertisements I see especially from GM, Nissan and H/K.

qbrozen

OMG. It is just a talking head. No thanks. I lasted 10 secs into that video.

ronsteve

I've seen quite the precipitous drop in the value of my RDX, but the Jetta hasn't started to dive as sharply. Maybe I can talk the better half out of her Jetta before the all-important "difference" goes out of whack.

nyccarguy

Pics or it didn’t happen:

MSRP on my 2023 Wrangler 4Xe Rubicon: $61,780
Carvana bought it for $62,000

I’ll post a few more details later.

oldfarmer50

greg128 said:

Looks like dealers especially used are in for a rough time as indicated here:

https://www.youtube.com/watch?v=PB8wcvEt-dU

The good news is that used car buyers should be able to get better deals. I also notice new car inventory rebounding and as a result there are inexpensive lease advertisements I see especially from GM, Nissan and H/K.

I bet I’ve seen a dozen videos like that but when you look at dealer inventory the prices are still outrageous. Maybe it’s just inflation driving things now.

kyfdx

@nyccarguy Wow! What's your profit, after all costs? Congrats!

jmonroe1

oldfarmer50 said:

nyccarguy said:

@Michaell said:

I can tell you’ve never played The Price is Right.

@stickguy is “the guy” who bets $1 - and wins

Speaking of winning, the PowerBall for tomorrow is $1.5 BILLION. I have two tickets, one of which is the winner so don’t waste your money.

————————————————
Would you mind giving an old poster buddy the other one? Second place is good enough for me at my age.

jmonroe

28firefighter

That is a really strong flip, @nyccarguy, especially for today. That’s what? $10kish profit?

My guess is you’ll have one of the last big profit ones.

rayains

My lease turn-in is now on my Dealer's lot:

https://www.bmwofgwinnettplace.com/inventory/3MW5U7J01L8B28191/?store=95&sd_campaign=VLA - Used&sd_digadprov=dealerinspire&sd_channel=Shopping&sd_campaign_type=adwords&sd_digadid=542570947918&sd_digadcid=14474775558&sd_digadkeyword=&sd_location=9010780&sd_placement=&sd_targetid=pla-60408125302&gaw_campaign_id=14474775558&gaw_ad_group_id=125380624974&gaw_remote_client_id=4063057135&gclid=Cj0KCQjwk5ibBhDqARIsACzmgLRj7h3ADtTx8vZmbUMQZFJsKZxI1kaiZBjN8StY1J8G33KxjKNOatkaAmq2EALw_wcB

- Ray
Gave me VERY good service...

jmonroe1

explorerx4 said:

I was just checking auto loan rates. Most are higher than I've ever paid.

————————————————-
Isn’t this the fall-out that should have been expected when the government was passing out money like candy as a result of Covid?

Economists warned that this was going to happen and some even got the timeline correct. When will we learn there ain’t no such thing as a free lunch?

jmonroe

Michaell

jmonroe1 said:

explorerx4 said:

I was just checking auto loan rates. Most are higher than I've ever paid.

————————————————-
Isn’t this the fall-out that should have been expected when the government was passing out money like candy as a result of Covid?

Economists warned that this was going to happen and some even got the timeline correct. When will we learn there ain’t no such thing as a free lunch?

jmonroe

I think that's only part of the story - the other half have been all the supply chain issues, from parts availability to shipping constraints, that have made goods scarce.

jmonroe1

Michaell said:

jmonroe1 said:

explorerx4 said:

I was just checking auto loan rates. Most are higher than I've ever paid.

————————————————-
Isn’t this the fall-out that should have been expected when the government was passing out money like candy as a result of Covid?

Economists warned that this was going to happen and some even got the timeline correct. When will we learn there ain’t no such thing as a free lunch?

jmonroe

I think that's only part of the story - the other half have been all the supply chain issues, from parts availability to shipping constraints, that have made goods scarce.

———————————————
At one time supplies were scarce but I think as things started to improve suppliers were hesitant to buy raw material in hopes that prices would drop. But, then folks didn’t want to go back to work for their old wages. This of course compounded the problem.

It will correct somewhat in time but not as fast as we’d like. I don’t even look at my 401K these days. For all I know I might not even have one anymore.

jmonroe

oldfarmer50

nyccarguy said:

Pics or it didn’t happen:

MSRP on my 2023 Wrangler 4Xe Rubicon: $61,780

Carvana bought it for $62,000

I’ll post a few more details later.

No wonder they’re going bankrupt. You played them well.

oldfarmer50

jmonroe1 said:

oldfarmer50 said:

nyccarguy said:

@Michaell said:

I can tell you’ve never played The Price is Right.

@stickguy is “the guy” who bets $1 - and wins

Speaking of winning, the PowerBall for tomorrow is $1.5 BILLION. I have two tickets, one of which is the winner so don’t waste your money.

————————————————
Would you mind giving an old poster buddy the other one? Second place is good enough for me at my age.

jmonroe

I’ll tell you what I told my buddies at work: If I win the $1.5 Billion, I will buy each and every one of you a cup of coffee, any size you like…guaranteed!😂

kyfdx

I love seeing it work out like that.

fintail

Michaell said:

jmonroe1 said:

explorerx4 said:

I was just checking auto loan rates. Most are higher than I've ever paid.

————————————————-
Isn’t this the fall-out that should have been expected when the government was passing out money like candy as a result of Covid?

Economists warned that this was going to happen and some even got the timeline correct. When will we learn there ain’t no such thing as a free lunch?

jmonroe

I think that's only part of the story - the other half have been all the supply chain issues, from parts availability to shipping constraints, that have made goods scarce.

Don't forget windfall profits. We must sacrifice to protect the well being of institutional shareholders and the bootstrapping executive class who give so much and take so little, along with the top few who are trickling things down to the masses like they have for the past 40 years. And then we can get into artificially low interest rates that created overheated markets - we should have had occasional 25 bps rate hikes to historical norms starting several years ago.

I wonder what was the average amount of covid stimmy given directly to individual consumers compared to subsequent inflation. Most people got no more than a few grand - that didn't cause this mess, which conveniently happens when working people finally get a little something. And if one more stereotype says people don't want to work anymore - that's not the problem, decades of wages not pacing COL factors is a real issue that few will touch.

explorerx4

@nyccarguy,
Did ask them for an offer on the Tonka, too?

jmonroe1

oldfarmer50 said:

jmonroe1 said:

oldfarmer50 said:

nyccarguy said:

@Michaell said:

I can tell you’ve never played The Price is Right.

@stickguy is “the guy” who bets $1 - and wins

Speaking of winning, the PowerBall for tomorrow is $1.5 BILLION. I have two tickets, one of which is the winner so don’t waste your money.

————————————————
Would you mind giving an old poster buddy the other one? Second place is good enough for me at my age.

jmonroe

I’ll tell you what I told my buddies at work: If I win the $1.5 Billion, I will buy each and every one of you a cup of coffee, any size you like…guaranteed!😂
————————————————-
Gee, I guess $1.5 Billion doesn’t buy as much as it used to.

jmonroe

tjc78

Good deal Bradd!

xwesx

Michaell said:

I think that's only part of the story - the other half have been all the supply chain issues, from parts availability to shipping constraints, that have made goods scarce.

Not to mention the massive defacto increase in minimum wage. You cannot expect bottom-rung wage earners to be making $12-16 per hour when, three years ago, it was about $9-10, and not have major repercussions to inflation. Those on the bottom rung will always be well behind the income curve, and the curve will shift to accommodate that every time.