Chronic Car Buyers Anonymous

explorerx4 · September 22

@jmonroe1,
I don't find writing down the odometer reading, date and gallons much of a task.
Of course I do have lots of experience at it.

Hoping to do some car shopping next week. Will have to get new numbers for my Explorer after we get back.
The strike may help its' value.

oldfarmer50 · September 22

kyfdx said:

oldfarmer50 said:

au1994 said:

oldfarmer50 said:

stickguy said:
Nice looking Sube. As you proved with the BMW, it's just a car. If you don't like it, dump it and get something different!

84? I had to do the mental math on that. Same length as the 7 year ARM mortgage I am applying for in case I need one. and I would never even come close to the reset mark if I do get it.
What would the interest be on a loan like that assuming someone who needs it has less than perfect credit? I know my CU is up near 6% for 720+ scores so what’s the 600 score rate, 10%?
That would be my guess. I thought I heard an ad with Ram offering 3.9% the other day.

I just checked my CU. New, 35k and above up to 7 years is 5.5%. Thats without clicking into any details.
It’s worse than I thought, my CU offers top tier customers 7.74% on an 84 month loan but only if it’s a 2018 or newer. I’m guessing poor risk customers won’t do better than 12% if that.

I remember getting screwed on a 2 year auto loan @ 12% back in the 70s before lenders were required to divulge APR. of course being young and stupid I didn’t realize the salesman was lying about the rate.

When I paid off my car loan early, in the early 80s, they calculated the balance by the "rule of 78s". Talk about a ripoff.

Same here. I had no idea what that meant until I paid the loan off early. Educated at the school of hard knocks.

oldfarmer50 · September 22

andre1969 said:
So, a week and a couple days, and no buyers remorse, so I guess I did something right?
In the meantime, I'll bore y'all with a "baby picture" or two. Here's my youngest and my oldest, face to face...

In a way, both cars are the end of an era. 1957 was the last year DeSoto used a hemi engine. They switched to the new corporate wedge-head for 1958. I've heard the current Hemi is being discontinued after 2023, although I wonder about trucks? The EPA website still lists a 5.7 and 6.2 for the Ram for 2024. Maybe they're just building them through the end of the 2023 calendar year, and then just continue to offer it in the 2024 trucks until the supply runs out?

I love that DeSoto. I’m glad you still collect old iron.

oldfarmer50 · September 22

andre1969 said:
On the subject of interest rates, my Charger is 8.04% for 72 months...and they said my credit is about as good as it gets! I didn't want to go that long, but they said that the rate was the same for 60 and 72 months. My plan is to pay it off in a few months, anyway.

I asked them about a 24 or 36 month loan, in the hopes of getting a better interest rate, as I don't like paying that 8.04% for even a few months. But oddly, the shorter term rates had an even higher APR! The finance guy said that it was because they're viewed as riskier, which seems strange to me. But, I was thinking in terms or home mortgages, where a 15 year is usually a lower interest rate than a 30. And the payment really doesn't go up THAT much. But, I guess with car loans, it's different, as the payment goes up fast as you shorten the term.

For instance, my monthly payment it $777/mo. Shortening it to a 36 month would jack the payment to around $1380, and a 24 month would be around $1991! So with that high of a payment, perhaps they just see too much of a potential for default.

Not at my credit union. 2 year is 4.99%. 6 year is 6.24%.

jmonroe1 · September 22

oldfarmer50 said:

andre1969 said:
So, a week and a couple days, and no buyers remorse, so I guess I did something right?
In the meantime, I'll bore y'all with a "baby picture" or two. Here's my youngest and my oldest, face to face...

In a way, both cars are the end of an era. 1957 was the last year DeSoto used a hemi engine. They switched to the new corporate wedge-head for 1958. I've heard the current Hemi is being discontinued after 2023, although I wonder about trucks? The EPA website still lists a 5.7 and 6.2 for the Ram for 2024. Maybe they're just building them through the end of the 2023 calendar year, and then just continue to offer it in the 2024 trucks until the supply runs out?
I love that DeSoto. I’m glad you still collect old iron.

————————————————
And that DeSoto is a lotta iron. A guy could retire if he had a handful of those.

jmonroe

corvette · September 22

I believe the Early Ford V8 Museum had a display with an old ad to the effect that you could buy any 1936(?) Ford and finance it at 6% for under $25 per month "with the usual down payment," which was definitely affordable for a middle class person. I think they also included collision/comprehensive insurance as part of the financing. I don't think liability insurance was a thing that long ago, and was definitely not mandated.

I am curious about the details of the financing--did people make payments at the local dealer, or mail them in? And this was before cars were titled, so it was basically an unsecured loan, and no good method of checking income or credit.

explorerx4 · September 22

@corvette,
The museum used to have Docents to answer questions. Maybe not anymore?

stickguy · September 22

kyfdx said:

stickguy said:
You retired people really do live the good life!

You had your chance...

somehow though the calculations did not come out saying "stop working and buy Porsches for everyone"

though buying the new house is not really helping things.

stickguy · September 22

Mortgages are not too bad. the rate I just locked into (12 month lock, free relock if it goes down) in 6.125% I think that is before the .125% deduction for direct debit from a checking account at that bank (which I have). 7/1 arm.

jmonroe1 · September 22

stickguy said:

kyfdx said:

stickguy said:
You retired people really do live the good life!

You had your chance...
somehow though the calculations did not come out saying "stop working and buy Porsches for everyone"

though buying the new house is not really helping things.

————————————————
Sounds like your priorities are screwing you up.

jmonroe

corvette · September 22

@explorerx4 said:
@corvette,
The museum used to have Docents to answer questions. Maybe not anymore?

Sort of. No other visitors and there was one dude running the place and wandering around while I was there.

corvette · September 22

First ride in a Model T for both of us… The sounds and the smells reminded me of a riding lawn mower.

jmonroe1 · September 22

corvette said:

First ride in a Model T for both of us… The sounds and the smells reminded me of a riding lawn mower.

————————————————
You should have checked underneath for a blade.

jmonroe

xwesx · September 22

explorerx4 said:
@jmonroe1,
I don't find writing down the odometer reading, date and gallons much of a task.
Of course I do have lots of experience at it.

Same here! The only time it gets a little annoying is on the far end of a trip through Canada, because I have to adjust both the liters to gallons and the exchange rate on that day. Still, it's not too difficult once the method is established.

xwesx · September 22

Michael said y'all were missing me! Sorry about that; everything is fine in my world, though. I was so wrapped up in getting ready to go on our annual trip to Ohio that I let a few things slip, and it's just been go-go-go every since!

We are on the tail end of it now, and plan on getting on the road back to Alaska early on Tuesday morning because I need to be back at work (in person) on Monday, 10/2.

There were over 1,200 new posts on this thread alone since I last stopped in (probably not since around the end of the first week of August), so I admit that I didn't read them all. Congrats on your new car, @andre1969 ! That's a rare event, and it looks like you picked a nice one! Also, congrats to your family on the new addition, @tifighter .

28firefighter · September 22

@stickguy said:
Mortgages are not too bad. the rate I just locked into (12 month lock, free relock if it goes down) in 6.125% I think that is before the .125% deduction for direct debit from a checking account at that bank (which I have). 7/1 arm.

Thats a really solid rate right now.

That said, I am very glad we refinanced when we did a few years ago. We managed to time it to the very bottom of the market.

Michaell · September 22

28firefighter said:

@stickguy said:

Mortgages are not too bad. the rate I just locked into (12 month lock, free relock if it goes down) in 6.125% I think that is before the .125% deduction for direct debit from a checking account at that bank (which I have). 7/1 arm.

Thats a really solid rate right now.

That said, I am very glad we refinanced when we did a few years ago. We managed to time it to the very bottom of the market.

Which means you may never move again.

stickguy · September 23

Michaell said:

28firefighter said:

@stickguy said:

Mortgages are not too bad. the rate I just locked into (12 month lock, free relock if it goes down) in 6.125% I think that is before the .125% deduction for direct debit from a checking account at that bank (which I have). 7/1 arm.

Thats a really solid rate right now.

That said, I am very glad we refinanced when we did a few years ago. We managed to time it to the very bottom of the market.

Which means you may never move again.

well, we bought just over a year ago so I locked in the current mortgage (same lender and program) in June 2022. I think it is at 3.125 (with discount, so rack rate was 3.25%). so up about 3% since then, which does not seem too bad considering some of the doom and gloom you read.

Of course it sounds worse if you say they almost doubled! Good lender at least. 12 month rate lock, and any time we want if rates are lower, can do a free re-lock at the new rate. my goal though is still take not need one at the time. will save a bunch of money!

au1994 · September 23

28firefighter said:

@stickguy said:

Mortgages are not too bad. the rate I just locked into (12 month lock, free relock if it goes down) in 6.125% I think that is before the .125% deduction for direct debit from a checking account at that bank (which I have). 7/1 arm.

Thats a really solid rate right now.

That said, I am very glad we refinanced when we did a few years ago. We managed to time it to the very bottom of the market.

We did as well. Main house is at 2.65, lake house is at 3.25. Practically free money.

kyfdx · September 23

corvette said:

First ride in a Model T for both of us… The sounds and the smells reminded me of a riding lawn mower.

Who would have thought Phil Collins would be giving rides at a museum?

Great pic!

nyccarguy · September 23

@au1994 said:
We did as well. Main house is at 2.65, lake house is at 3.25. Practically free money.

Locked in a 20 year refi in December of ‘21. Closed January of ‘22. 2.99% for 20 years.

Made it to Rockville, MD about 25 minutes from DC last night. 5 of us plus my mother in law. Thanks to the engineers at Thule for making my life somewhat easier.

kyfdx · September 23

I locked in 0%, when I went ahead and paid off my 15 year mortgage, four years early in 2019. (3%, at the time)

28firefighter · September 23

We’re at 2.3 for 30 years fixed. And yes never moving if I have anything to do with it.

kyfdx · September 23

28firefighter said:
We’re at 2.3 for 30 years fixed. And yes never moving if I have anything to do with it.

That's the funny part, if you've ever been married..

Sandman6472 · September 23

I really don't mind that one tire tread is different right now as they look quite similar. And since at this point it's staying in the fleet for probably another couple of years, ain't a big deal.
I've already changed the brake fluid twice and had the coolant changed last year. Haven't done anything with the transmission fluid and I've almost got 75K on the clock. Is this something I need to have done or can I just leave things alone? Car drives very nicely still and just not ready to swap it out yet. Once the new Hyundai Kona hits the streets, we'll see how good it really is.
Wife mentioned the Audi is having some starting issues. Tried it and it sounds like the battery is having some issues. Down here, we're lucky to get a couple years out of our batteries due to the heat. Keeping my eye on things. Need to check the receipt to find out when we bought it. Remember it died in the garage & the guy who came swapped it out right there.

oldfarmer50 · September 23

Sandy, I would change the transmission fluid just to be safe. Do a fluid/filter change but not a flush. Flushing might dislodge built up junk.

tjc78 · September 23

2.75 on primary and 3.125 at the shore. Not touching either one!!

stickguy · September 23

I just got a statement on this house today. turns out to be 3.625%. Not doing anything now since it goes away next year when we sell. If we were staying, I was just letting it finish out anyway. I think it has 20 months to go. started as a 30-year amortization since we temporarily floated both houses, but most of it was paid off and I did not bother to recast it, so at current monthly payment principal will run out in about 20 months anyway.

stickguy · September 23

tjc78 said:
2.75 on primary and 3.125 at the shore. Not touching either one!!

smart. ride those babies into retirement!

mjfloyd1 · September 23

Problems with mis-matched tires

https://www.tirebuyer.com/education/using-mismatched-or-mixed-sets-of-tires#

https://www.hilltoptireservice.com/Blog/ArticleID/480/Can-I-Replace-Just-One-Tire-on-my-Car#:~:text=If one tire is clearly,understanding information from your tires.

https://driving.ca/column/troubleshooter/troubleshooter-mismatched-tires-its-not-just-the-size-that-matters

jmonroe1 · September 23

mjfloyd1 said:
Problems with mis-matched tires

https://www.tirebuyer.com/education/using-mismatched-or-mixed-sets-of-tires#

https://www.hilltoptireservice.com/Blog/ArticleID/480/Can-I-Replace-Just-One-Tire-on-my-Car#:~:text=If one tire is clearly,understanding information from your tires.

https://driving.ca/column/troubleshooter/troubleshooter-mismatched-tires-its-not-just-the-size-that-matters

————————————————
Why are you trying to confuse me with facts? I’ve already told you I’ve made up my mind.

jmonroe

nyccarguy · September 24

Traveling in our nation’s capital looking at American University this weekend. Trying to stay on topic and keep things car related. Saw this RX7 parked on the street in DC. No sunroof. Automatic. Amazing condition.

jmonroe1 · September 24

nyccarguy said:
Traveling in our nation’s capital looking at American University this weekend. Trying to stay on topic and keep things car related. Saw this RX7 parked on the street in DC. No sunroof. Automatic. Amazing condition.

————————————————
Go back in 15 minutes and see if it’s still there.

jmonroe

roadburner · September 24

I almost have the C43 paid off. On the Jeep front, my bride and I have decided on a JLU(4 door)- either a Rubicon or a Sahara. We’d prefer a 4xe but we could be swayed by a conventional Rubicon, Sahara, or Willys if the price and option set is right. I’m sure glad my wife also prefers a Wrangler over a Grand Cherokee.

stickguy · September 24

JLU is the current version I assume ?

au1994 · September 24

JL is the current version U stands for 4 door.

28firefighter · September 24

Couple punches to report that don’t impact our count.

(1) My mom traded her 2017 Audi SQ5 for a 2024 Subaru Crosstrek Sport. She and my dad are no longer together and she never really liked/wanted the Audi. So this is what she wanted - less expensive to own, maintain, etc and much easier for her to handle.

(2) I helped my BIL acquire a 2023 Audi SQ8 Premium Plus with carbon optic package, executive package, and many other options most important of which is the factory sport resonator. Cool car - serious $$.

roadburner · September 24

Assuming it lives up to its name, I’d go with the factory sport exhaust every time. It’s just too much fun.

venture · September 24

We were in Maryland over the weekend. Before starting back, I decided to fill up.

It sort of felt good not paying $4.60 for premium.

Michaell · September 24

venture said:
We were in Maryland over the weekend. Before starting back, I decided to fill up.

It sort of felt good not paying $4.60 for premium.

My sister filled up her Volvo XC40 on Friday night at Costco in the greater San Diego area.

Now, we all know that Costco has some pretty decent pricing, but she paid $5.99/gal for Premium. Makes me wonder how much it would have been at a Shell station.

Not looking forward to having fill up the rental car this week on my trip to CA. I will be picking something from the Emerald Aisle that takes RUG.

corvette · September 24

Michaell said:
I will be picking something from the Emerald Aisle that takes RUG.

So far as I'm concerned, all rental cars take RUG...

corvette · September 24

Maverick trip report: it did great, drove about 1,800 miles. Got 30+ MPG on long highway stretches, mid-20s in mixed driving. It called for its first service, so I have that booked for Saturday. Should be able to use Ford points for the first three services.

I think my next mod will be a power tailgate lock. I stored my luggage under the tonneau in the bed, and manually activating the lock was annoying. Doubt I will get that done before the next trip--off to the Ozarks in a couple of weeks!

jmonroe1 · September 24

venture said:
We were in Maryland over the weekend. Before starting back, I decided to fill up.

It sort of felt good not paying $4.60 for premium.

————————————————
You screwed up. You shoulda cut the hose off and taken it home with you.

jmonroe

Michaell · September 24

corvette said:

Michaell said:
I will be picking something from the Emerald Aisle that takes RUG.
So far as I'm concerned, all rental cars take RUG...

I hadn’t thought of it that way…

jmonroe1 · September 24

Michaell said:

corvette said:

Michaell said:
I will be picking something from the Emerald Aisle that takes RUG.
So far as I'm concerned, all rental cars take RUG...
I hadn’t thought of it that way…

————————————————
That’s why we let you play in here.

jmonroe

nyccarguy · September 24

@28firefighter - sorry to hear your parents aren’t together anymore.

28firefighter · September 24

@nyccarguy said:
@28firefighter - sorry to hear your parents aren’t together anymore.

Thanks, man! A very long and painful time coming, but ultimately for the best.

G’Mar Chatima Tova, btw. Easy fast if that’s your thing!

oldfarmer50 · September 25

Michaell said:

venture said:
We were in Maryland over the weekend. Before starting back, I decided to fill up.

It sort of felt good not paying $4.60 for premium.
My sister filled up her Volvo XC40 on Friday night at Costco in the greater San Diego area.

Now, we all know that Costco has some pretty decent pricing, but she paid $5.99/gal for Premium. Makes me wonder how much it would have been at a Shell station.

Not looking forward to having fill up the rental car this week on my trip to CA. I will be picking something from the Emerald Aisle that takes RUG.

If I recall, all Enterprise group cars run on RUG. At least that’s what we’re required to use. I bet a lot of them would have a bit more pep on PUG. Depending on what you rent, you might have more fun running premium and save RUG for the final fill up.

In my area the cheapest PUG is about $4.30/gal. with the average being around $4.50.

mjfloyd1 · September 25

@28firefighter said:

@nyccarguy said:
@28firefighter - sorry to hear your parents aren’t together anymore.

Thanks, man! A very long and painful time coming, but ultimately for the best.

G’Mar Chatima Tova, btw. Easy fast if that’s your thing!

Sorry to hear that. I was hoping that I had misread it.

Sandman6472 · September 25

My thoughts exactly but sometimes, folks are better apart then together. Think we tend to forget sometimes that our folks were never perfect like we thought they were, just regular people like the rest of us. Hopefully, this will all be positive going forward. Wishing them both the best and hopefully, everyone can make lemonade out of lemons!

Chronic Car Buyers Anonymous

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