Chronic Car Buyers Anonymous (Archived)

xwesx

I finally received the payout on my Forester (the one I knocked in to the blade of the plow truck). On the vehicle value appraisal, I was really surprised at all of the detail that went into it. It turns out that it pays (literally) to keep your vehicle in generally good order. The adjuster mentioned that the value could have been half or less of where it came in just based on condition.

This car has just over 134K on it, so it's no spring chicken, but I have good winter tires on it, have the interior in good condition, mechanicals, etc. So, even with the prior damage (rollover), they pegged it at ~6,800. Because of this, the estimate, at 6,700, totalled it (again).

There were a bunch of little adjustments, etc, less the "salvage" value, and, in the end, I received a check for ~5,100. Now I just need to work with the body shop to determine how we put this thing back together again.

laurasdada

Yup, the last two cars I traded, I did so within 3 months of putting nice, fancy, expensive new tires on 'em. Another fine example of my fiscal responsibility.

Currently debating buying a condo. Only one underground parking space. But, to make up for that, it does face the train tracks. And, is expensive. Yes, to buy and monthly payments. No brainer, huh? Or I could continue to pay high rent and buy a stupidly expensive car. What would be the fiscally responsible thing to do? Tough one.

And, Stever, nice snowshoes! Winter might be over here in Boston, snow-wise. Might be. Could be. Wait a minute...

suydam

My daughter lives in Boston. I don't know how anyone affords anything there! This from a southern Californian.

Michaell

 I was talking with my sister last night about her transportation situation. Her middle son is starting his drivers training this week and will have his license in November. She's thinking of selling her navigator. Take the proceeds from that, add a little bit of money, which will give her a budget of about $8000.   She's looking at either a Toyota Tacoma or a scion TC. 

The tcs at that price point all have about 100,000 miles on them, and the Tacoma's all have about 200,000 miles on them. 

suydam

Why not some older Buick or Chevy? Big, old, and slow, for a teen driver is always good!

Sandman6472

VW store did the same thing with my Tuscon, lowballed me on the trade but matched the copy of the Carmax value from the previous day. Guess they don't think you are serious unless one stops at Carmax first for a trade-in value by them. Either way, didn't care as long as they came up to match Carmax. Told my sales guy to do what you have to on the pre-printed buyers sheet but made sure the total check I gave was for the Carmax trade total plus whatever cash needed to complete the deal.
Did the same thing on my Civic with upkeep. Three months before I traded, I had some work done because at that point, it was going to stay in the stable at least until it hit 75K as it was pretty close to perfect for my needs at the time. Once I started driving all those different vehicles with my first driving gig, the itch for something new started to grow even though my wife thought the timing was off. Sometimes, as you folks well know, we get this notion in our heads that we want, need something newer and won't stop looking until it is found. I was in that mode and nothing anyone said could derail me.
Looking back, should've waited but not sure if I'd be where I am right now driver wise if I had kept the Civic a bit longer. No regrets but going forward, hoping to be more financially prudent if possible. Since we both spring for our own vehicles, no one has veto power which makes things so much easier.

The Sandman

Sandman6472

The wife is in the top of the ninth so to speak with tax season. Her Turbo Tax night gig has been very enjoyable and just as fun as it was last year. Turns out we came out almost dead even which works for me. So glad I am an employee with Hertz and they take out the taxes...hated being an independent contractor and doing the quarterly payments, something my wife has to do. Once completed, she just gives me a copy to look over and approve. Taking the H&R Block tax course a few years back has given me a better knowledge of the whole thing but I just let her do it since she is the professional in the house!

The Sandman

Michaell

suydam said:

Why not some older Buick or Chevy? Big, old, and slow, for a teen driver is always good!

 Nephew number one had a hand-me-down BMW.  My sister doesn't do older and slower American iron 

xwesx

Michaell said:

Nephew number one had a hand-me-down BMW.  My sister doesn't do older and slower American iron 

Except that she has a Navigator? Hmm.

Based on those other options, what is wrong with just keeping the one she has for the hand-me-down?

Michaell

xwesx said:

Nephew number one had a hand-me-down BMW.  My sister doesn't do older and slower American iron 

Except that she has a Navigator? Hmm. Based on those other options, what is wrong with just keeping the one she has for the hand-me-down?

The navi has 140k and is getting tired. Also, 13mpg in California hits the checkbook pretty hard. 

iluvmysephia1

Right, what is RUG going for in CA right now? $4.40/gal?

roadburner

Michaell said:

suydam said:

Why not some older Buick or Chevy? Big, old, and slow, for a teen driver is always good!

 Nephew number one had a hand-me-down BMW.  My sister doesn't do older and slower American iron 

My son got my 1975 BMW 2002; but before that he attended the two day teen school at the BMW Performance Center as well as the one day Street Survival course. I think that attending a course like Street Survival should be mandatory.

corvette

sandman_6472 said:

So glad I am an employee with Hertz and they take out the taxes...hated being an independent contractor and doing the quarterly payments, something my wife has to do.

I hated that, too! I actually pay very little in fed/state income taxes now. Partly because of deductions and retirement contributions, but mostly because I'm not making the big bucks that they promise everybody who gets an advanced degree.

Sandman6472

Retirement deductions are a great thing as no one wants to pay in more than they have to. I do think if one makes money, one should pay tax on it but it needs to be a reasonable amount. Sure, spending money is great but saving can be just the same if done right. But from being in this forum for so long, cars are where most of us seem to have no problem spending if the right one comes along. And that can be a good thing...or not!

The Sandman

stickguy

Doesn't seem that anyone here (you included Sandy!) is making decisions that prevent rent being paid, or food going on table! And an occasional new car not likely to torpedo retirement.

iluvmysephia1

Doesn't seem that anyone here (you included Sandy!) is making decisions that prevent rent being paid, or food going on table! And an occasional new car not likely to torpedo retirement.

Especially when we're already paying our present car off on time. I've done this for so many years that the occasional periods where there's no car payments are really nice. But I fully expect to have a car payment at least up until retirement. Hence my discussing what I may want to trade for in here for several weeks/months.

But no way, if my payment was going to impact rent, food, being able to care for medical/dental needs and our 2 dogs and 2 cats, then I'd have to be extra tough with myself and forget about the car.

The Mrs. made a comment the other day - I'm always looking at cars on the net and she sees me looking. She says "if you want another car when you retire why not pay cash for it?" Smart idea, right. But I'm about 5 years and 4 months away from retirement and I am thinking about possibly trading for a new car right now!

She doesn't share the love of a new car. It's not the smell - it's the guy taking his new Scion iA to the Autocross - no, I don't race against my own times through a slalom. But man, the iA can rip through one impressively. It's Mazda build, man. Pretty tough ta beat for small car enthusiasts. And I never felt that Scion theirselves were any slouch. Loved the earlier tC's and xA's. It's the whole experience of learning a new car's road "feel". The exhileration of catching some of the plasticky new car smell...just kidding. It's not about the smell.

But no way would I pull the trigger if the Mrs. or I or our animals or any of our interests were threatened somehow by that decision. Wow...Soul or iA? Or stay put? Staying put has some serious merit to it. For one thing, it would allow for more of the interest on our loan to be paid down. Intention being evening the amount owed on the loan to the current vehicle value.

au1994

I've seen people retire and buy themselves the Caddy, Jag, BMW etc of their dreams and I think that's awesome.

We are both a ways from retirement but could see doing the opposite. Getting a nice reliable Pilot or the like and getting away from the German maintenance bills in retirement!

iluvmysephia1

Yeah, no payments is always better. I have had people tell me the best car to have is the paid off car! Oh, wait a minute, au1994. You're thinking of buying a Pilot on time? Or buying it outright? And avoiding the maintenance bills of the German rig. I get it. Yeah, you could go that way, too.

Choices are good.

au1994

iluvmysephia1 said:

Yeah, no payments is always better. I have had people tell me the best car to have is the paid off car! Oh, wait a minute, au1994. You're thinking of buying a Pilot on time? Or buying it outright? And avoiding the maintenance bills of the German rig. I get it. Yeah, you could go that way, too. Choices are good.

If we were retiring within the next 18-24 mos I'd finace the SUV or whatever larger vehicle we decided on and pay cash for a nice fun roadster or convertible that's several years old. Who knows, we are a ways out and have one to get through college. Luckily he's a bright one so fingers crossed for scholarship help!!

stever

A reporter is hoping to talk with someone who has put in an application to buy one of the new Ford GTs. Please email pr@edmunds.com before Monday, April 18, 2016 with a few lines about your decision.

corvette

Too rich for my blood! breld, have you signed up yet?

andres3

Michaell said:

andres3 said:

Michaell said:

sda said:

corvette said:

laurasdada said:

I think the XF needs new wiper blades. Do I waste $20 or is it time for a new car?

Well, don't do what I did. Replaced all three wiper blades on the Yukon and traded it in a few weeks later on a car which also needed new wiper blades. 

I generally do worse and trade my car only after I've had it fully serviced and expensive new tires put on it. Needless to say I hadn't planned on trading when I spent the money on maintaining the car, but the fever got me, next I knew I was in a new ride. That makes me a certified CCBA, right?

We've traded several cars in within months of putting new tires on it.

One of the first things a used car manager looks at is the tires. If they have to replace them, rest assured there offer will be adjusted downward.

When we traded in the CX-7 for the Outback last year, the Subaru dealer initially offered $10,500. I pulled out the CarMax offer from earlier that morning that showed $12,500. Subaru dealer immediately matched that offer.

I'd of made them beat it by at least $200. Matching gives the advantage to the matcher.

andres3

laurasdada said:

Yup, the last two cars I traded, I did so within 3 months of putting nice, fancy, expensive new tires on 'em. Another fine example of my fiscal responsibility.

Currently debating buying a condo. Only one underground parking space. But, to make up for that, it does face the train tracks. And, is expensive. Yes, to buy and monthly payments. No brainer, huh? Or I could continue to pay high rent and buy a stupidly expensive car. What would be the fiscally responsible thing to do? Tough one.

And, Stever, nice snowshoes! Winter might be over here in Boston, snow-wise. Might be. Could be. Wait a minute...

With the kinds of cars you seem to have/buy, I think putting on cheap no-name, and/or Chinese tires would be off-putting to anyone that looks at the tires.

laurasdada

"My daughter lives in Boston. I don't know how anyone affords anything there! This from a southern Californian. " (Quote button ain't working for me...).

My Dad and Bro live in LA. No idea how anyone affords to live there! Boston area seems quite reasonable in comparison. Makes it tough to consider moving/retiring there to be closer to family.

stevedebi

iluvmysephia1 said:

Right, what is RUG going for in CA right now? $4.40/gal?

About $3/gal if you shop around. I think I paid 2.75 my last tank. But I drive a PHEV, so that was three weeks ago.

laurasdada

PUG $2.20 at Costco outside of Boston (was $2.00 about 10 days ago). Highway robbery, I tells ya!

Also, got invited to a "viewing only" event at my local Jag dealer to ogle the new XE and F-Pace. I'm a goin', leaving the checkbook and credit cards at home. Unless, of course, they make me an offer I can't refuse! Do I have any breld or qbrozen in me?

No, must resist. Looks like I bought me a condo. Buyer's remorse already, that can't be good.

stickguy

after the recent Genny discussions, this one popped up at my local place (no pics yet). My favorite color combo! seems like a reasonable price?

http://www.royaleasing.com/detail-2012-hyundai-genesis-4dr_sedan_v6_3_8l-used-14939595.html

Michaell

OK, learned and wise members of the order of CCBA - am in need of some advice.

As you know, I'm losing my job in 6 weeks. Well, not losing it - I know where it is. Somebody else will have it.

Either way, the job search isn't proving quite a fruitful as I had originally thought. Lots of applications, not a lot of response. The outplacement folks have been quite helpful, and I'm building a decent network of contacts. But, it's slow going.

Therefore, I'm prepared to be unemployed as of 6/1. I'll get one month's severance, then I'll be living off savings and other investments.

The E-GT lease is up in November. I'm hoping to be employed by then, but nothing is guaranteed.

My question is this - do I get into a new lease (2017 Elantra SE) at a payment roughly the same as what I'm paying now, while I'm working and have a decent credit score, or ride out the lease and hope I have a new job?

My fear is that if I wait until November and am still not working, my credit score may be weaker and the debt to income ratio will be way higher. Not even sure I would qualify for a new lease without a job.

I don't think we can be a 3 driver, 2 car household, even though the wife and daughter have the same employer.

Thoughts?

stickguy

I was going to suggest buddying up on the cars, but that is your call.

Maybe should have gotten that Malibu after all?

You might be OK anyway on a cheap lease, though would probably require the wife being involved. Can even put it in her name, or just count the salary.

But, assuming you are definitely getting a replacement, and it goes back in 6 months, I would say heck with it, and do it now. If you can get out of it early without getting killed (Hyundai dealer could help here), might as well get it out of the way before it is too late. Kind of like taking out a HELOC. Have to do it before you need the money, or they won't give it to you!

I just got an Email from Hyundai dealer today. Screaming deals on Elantra, and Sonata if you want to "go big".

alternate plan of course is to just buy something used and not too expensive to tide you over.

Michaell

I was at the Hyundai dealer this afternoon; that's what sparked my post.

Looked at the Sonata Sport 2.4 with tech package - ticks all the boxes for me, but probably too expensive for my budget.

The Elantra SE with tech and popular equipment package is a better value, and still ticks all the feature boxes. $3000 discount from sticker already, and the dealer indicated they would honor the on-line price even for a lease.

Saleman suggested that I get out of my current lease before it hits 45,000 miles (I'm at 42,xxx at the moment).

Of course, gotta run this by the wife to get her take. She may revisit the idea of replacing the car at all.

Doubt we'd go cheap and used; but, I suppose I shouldn't rule anything out at this point.

Michaell

FWIW, I'm glad I didn't get the Malibu. I would have given up too many features compared to the Elantra I am looking at.

stickguy

the Elantra sounds like a good choice. Run the #s, see what happens. Pretty simple. You got a cap cost, they know your car, so all you need from them is how much a monthly $ payment do you have to sign up for if you give the GT back and take the new one?

If they are going to be even just the same, do it. Unless you pick go down a car.

In your case, if you are still keeping the side job, you actually do need wheels though. Hey, how does that work with unemployment? Makes no sense to deliver pies if that money is just going to offset your UI. In an odd twist, if you are unemployed from your real job, might have to give up the side one!

Michaell

stickguy said:

the Elantra sounds like a good choice. Run the #s, see what happens. Pretty simple. You got a cap cost, they know your car, so all you need from them is how much a monthly $ payment do you have to sign up for if you give the GT back and take the new one?

If they are going to be even just the same, do it. Unless you pick go down a car.

In your case, if you are still keeping the side job, you actually do need wheels though. Hey, how does that work with unemployment? Makes no sense to deliver pies if that money is just going to offset your UI. In an odd twist, if you are unemployed from your real job, might have to give up the side one!

Yeah, I've thought about UI and the pizza delivery gig. From what I've heard at the outplacement meetings I've attended, the number of hoops you have to go through to get UI isn't really worth the money. I can always pick up more shifts or more hours delivering if I had to.

And, I've still got the Edmunds gig as well.

Ignoring any lease return costs (if any), the '17 Elantra would be less than $200/mo with tax, using their prices. Might be a bit more if I roll in the bank fee. But, pretty close to the $225/mo I'm paying for the E-GT.

qbrozen

I dunno. I really can't suggest getting into another lease right now with things uncertain. What if you wind up with a huge commute? Leasing, IMHO, is never for someone with uncertainty in the future. You have to know "I will be driving X miles per year and I can pay $X per month."

Michaell

qbrozen said:

I dunno. I really can't suggest getting into another lease right now with things uncertain. What if you wind up with a huge commute? Leasing, IMHO, is never for someone with uncertainty in the future. You have to know "I will be driving X miles per year and I can pay $X per month."

An excellent point. I suspect that if I get a job with a commute I would cut back or eliminate the pizza gig. But, no idea how far I'd be commuting. There is a pretty large business park on my side of town; ideally, I'd find something there.

No plans (or desire) to commute to Boulder or anything on the north side of Denver, truth be told.

28firefighter

Here is another wild idea (and possibly horrible idea):

What about picking up one of the Dodge Dart's on firesale right now? You could either buy it new (I'm seeing 10k + off MSRP plus 0% financing) or find one on the used market that I'm sure has tanked in value. At least that way you aren't worried about mileage overages in case your commute gets huge?

Michaell

28firefighter said:

Here is another wild idea (and possibly horrible idea):

What about picking up one of the Dodge Dart's on firesale right now? You could either buy it new (I'm seeing 10k + off MSRP plus 0% financing) or find one on the used market that I'm sure has tanked in value. At least that way you aren't worried about mileage overages in case your commute gets huge?

$10K discounts? Wow ...

I may have to look into that.

suydam

Except you'd be stuck with a Dart. 

Mr_Shiftright

I'm sure someone walking across Denver in February would find a Dart very attractive.

corvette

The Dart is an interesting suggestion. Not sure what the qualifications are to get all the discounts. Don't lose hope on the job search. My neighbor was laid off in January and starts his new gig at the beginning of May. 

breld

corvette said:

Too rich for my blood! breld, have you signed up yet?

Yeah right! I have occasional heartburn over the cost of my S4!

qbrozen

28firefighter said:

Here is another wild idea (and possibly horrible idea):

What about picking up one of the Dodge Dart's on firesale right now? You could either buy it new (I'm seeing 10k + off MSRP plus 0% financing) or find one on the used market that I'm sure has tanked in value. At least that way you aren't worried about mileage overages in case your commute gets huge?

hmmm... I'm seeing $5k off using truecar and applying the lease conquest cash. There is an extra $1k for returning leasees and a special $1500 for particular cars with a special tracking code (no clue what that means), so I left both of those off.

Still over $20k for a GT model.

stickguy

When I went through the whole "corporate streamlining" process back in 2008 I found UI to be quite simple. Apply online (real quick) and a few weeks later, it is approved and money just magically showed up. I think it varies by state, but at that time, it was IIRC about $600/week. so worked out to getting $15+ on an hourly gig, at FT hours. And fewer deductions (like FICA). it was really nice to have.

you could probably qualify down the line anyway if needed, with putting the Wife down on the paperwork. They really want to move iron. Breathing and a modest pulse should be enough to roll you!

also, you can normally extend a few months if needed, right? Or temporarily go short a car. So lots of options.

kyfdx

UI was the best job I ever had...

kyfdx

But, back to Michael's issue.

When it comes time, put your wife's name on the car. If you have good credit, the income won't matter much, at least not in that price range.

I sure wouldn't rush into a financial commitment, with an uncertain commuting/income future.

stickguy

Agreed with Ky. I was surprised when I went through it, credit rating really didn't change, since the bills still got paid. Plus you have income. And frankly, they never check.

28firefighter

Yeah. On second thought, forget the Dart. Passed one broken down on the side of I-5 this evening. 

nyccarguy

I wouldn't rush into a new car either.  Ride it out.  Wait until your EGT lease is up.  Wait until you find a new gig. Worse comes to worse, you could get by on 2 cars temporarily since your wife & daughter work together.

I wouldn't get into a new lease either if your commute is an unknown.  That's just asking for trouble.

Michaell

nyccarguy said:

I wouldn't rush into a new car either.  Ride it out.  Wait until your EGT lease is up.  Wait until you find a new gig. Worse comes to worse, you could get by on 2 cars temporarily since your wife & daughter work together.

I wouldn't get into a new lease either if your commute is an unknown.  That's just asking for trouble.

Thanks, everyone, for the quick feedback. I'll stand fast for now and focus on getting a new job. Pretty sure I'll exceed the mileage limit but I'll deal with that when the time comes.

corvette

Where's Andre? Wasn't he due for a punch on account of his Park Avenue needing a bunch of work?