what's your biggest count of SUVers in the ditch to date?
i remember a time when it was a badge of honor to make it through a big storm in my car. hey, i learned how to do donuts in a front wheel vehicle. :shades:
part of the problem perhaps is some people of 16, 17 and 18 years of age don't recognize how precious and tenuous life is. they are ruled by other thoughts and feelings some of us older folks can only remember.
as i've gotten older, i've seen a few things that make me wiser and more concervative w.r.t. snow and sleet and freezing rain.
like cars spinning 360s on the highway in front of me, tractor trailers jack-knifing, and this one sticks in my mind: a loading van stopped in it's lane with the gate down, and a car that unfortunately didn't stop because of the ice right behind it.
the van was fine, but the car behind it had no roof. there were EMTs and cops and firemen on scene, but the jaws of life weren't being used.
I didn't think you were old enough to have that problem but if you need a refresher read your post 7510. Just don't let the others on this board catch you doing it. They might not want to talk to you anymore if you can't remember what they say.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
Having just gone through the young driver stage with my two sons, they're 19 and 22 now, here's what I'd like to see.
Have a device with some kind of governor where I can control the criteria. If they speed, it notfies me and stays within what I set and then when they stop, it won't start again. Same thing if they have anyone in the back seat while they're driving.
After several tickets and minor fender benders, I can honestly say, I've been very lucky with them.
If they speed, it notifies me and stays within what I set and then when they stop, it won't start again.
Mobil Guardian makes a product that is similar to Lojack but you can track your vehicle on the internet and see how fast it is going and where it is. Best of all, with a couple of clicks you can diable the car. It won't stop right away but when the engine is turned off, it won't start again until you enable it over the internet
is a VW dealer. I spoke with one of the salesguys there that i know and asked him who's black Range Rover Sport has been parked out front for the last three weeks? (New employee for sure, but I thought it might be a manager or something).
Turns out it belongs to a 20 year old lot guy who works there for $10/hour :surprise: :surprise:
He gets money sent from overseas, and just works for gas money.
"Didn't Cliff say 'a man has to know his limitations'"
No, I believe that the great modern philosopher Dirty Harry Callahan in the movie 'Magnum Force'.
I try to live by that motto, and it was reinforced last year when I almost drowned going down a water silde that three 7-year old girls (one being my granddaughter) had just negotiated without a problem.
as i've gotten older, i've seen a few things that make me wiser and more concervative
I would add that I've done, as well as seen, more than a few things that make me wiser.
It's a hard fact that teens will make a lot of mistakes out there. For most of the teenagers they will be lucky, there will be minimal consequenses, but the shock of realizing what might have been will imprint it in them as a learning experience that they will never forget.
A lesser number will be lucky but will attribute it to their previously mentioned sense of immortality. Some of these will go to perpetuate the theory of Darwinism.
For a thankfully much smaller number there will be no luck, no learning experience, just terrible, tragic consequenses.
The way to help all three groups from requiring the benefit of luck in the first place, and thereby helping the rest of us at the same time, is through better driver education.
Just as you can enter the adult world as a high school drop out, but then go on to further education and better your chances in life, you can obtain a drivers licence with the minimum of training but go on to many interesting types of further driver education and better your chances of life!
I considered myself to be an excellent driver at the age of seventeen, but the only reason I'm here now is due to good luck and good reaction times. It humbles me to think what an [non-permissible content removed] I was then, and as grateful as I am that I never caused myself any injury, I'm doubly grateful that I never injured anyone else.
The best you can do to help a teen get through the first few years and safely get the experience they need, is to buy them the tools that can give them the best chance. It really is money well spent.
my kid drives my suv and i have no problem with it. too many people give their kid the worst vehicle. i give mine the best. one of my kids friends came over in her hand me down volvo. the back tires were basically bald! don't forget even very safe vehicles have their limitations. i remember i used to drive by a spot on the way to work where 4 girls in a 240 hit a tree. the car split in half and 3 died. i am glad people weren't putting up those memorials at accident death sites like you see now. we made it past month 4. we have graduated license privileges. after 3 months they can drive with a non adult passenger. several of our friend's kids got in accidents during month 4. i will agree that i wish my kid drove something really old and cheap, in case it got damaged.
2024 Ford F-150 STX, 2023 Ford Explorer ST, 91 Mustang GT vert
Huh. I never had an accident. I'm 23 and have been driving for nearly 7 years. No traffic violations, no pull-overs, no fender benders, nothing. I just never saw the point of participating in risky behavior.
Though I can only speak in retrospect, a lot of the stereotypes about teen drivers are true. However, I don't like being lumped in that type of category. I'm a safer driver than most people 10 or 20 years older than me. And certainly better than those who are in their 70s.
Actually, that is not true. Some kids go through their entire tenure as teens without an accident but some have the utter gall to wait until they are full-fledged adults before taking the plunge.
I never had a fender bender, wreck, or ticket as a teen. As an adult, I've had more than a fair share of tickets. Just got one Saturday morning. I've NEVER gotten off with a warning. I don't think they exist. I've had one very minor fender bender that was due to malicious intent and was not even my fault. The setup was:
Me driving on a freshly moistened, coral slick road in Okinawa, Japan. Old Okinawan guy in a minivan watching me and timing his move. Guy pulls out in the road and literally stops as he's watching me head for his van. I hit the non-ABS brakes. I try to modulate but the coral dust on the road makes it useless. I'm sawing at the wheel but only proceed perfectly straight. Luckily, I wasn't moving very fast and at the last instant, the front wheels get some control and I'm able to steer. It was no use because I was already too close. My front left bumper and fender mash into the side of his van. The damage was very minimal. A few dents and scrapes and a broken turn signal cover. When the cops arrived the guy tried to say I was speeding. Luckily, there were witnesses.
While I do think it's important that a teen driver not drive an unsafe junk heap (like I did when I was young), I think it's just as important to instill in them that driving a nice vehicle doesn't "just happen".
I didn't have any issues whatsoever putting my son in a car that he had some "skin" involved (his own money). It's not a free ride. There are responsibilities that go with that car and his license. I'll admit that I agreed with my son that I would match whatever money he saved to put into a car, and I did. But, he also had to take into consideration what insurance was going to cost him. What gas would cost him as well as maintenance.
I had final say on what he chose. The car, while being his car, was still to be registered in my name. I control where/when it goes. There were certain cars that were off limits....namely, Celicas, Preludes, Camaros/Firebirds, trucks/SUVs, Mustangs, no coupes of any type (4-doors are cheaper to insure).
His big "nut" was going to be insurance, so he shopped carefully. Fuel costs were also a concern for him. Car loans were also forbidden (I won't co-sign anything...not even for my son).
He ended up with an Elantra that has served him very well. He stuck in half the money. I came up with the other half.
It was a struggle for him with insurance (although, it's dropped considerably as he's gone from teen years to being 20)....even with an Elantra. But, he's finally got his work/school schedule tweaked to the point where he's doing well with both and has a little jingle in his pocket to cover all of the car's expenses. While he says he's poor all of the time, I tell him he's not (he's got a roof over his head, a full fridge, a warm bed).
Yes, safety is good. But, so are the responsibility/financial lessons that can be learned in driving a car....particularly for a young driver.
MODERATOR /ADMINISTRATOR Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name. 2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h) Review your vehicle
Anyone had experience in selling cars directly to teens?
I have, I used to sell cars in Jacksonville, North Carolina. If you don't know where that is, it is right next door to the USMC base Camp Lejeune. I sold Mazdas and Chryslers. 96% of our traffic was aged 18 to 24. And i have to say that most of the teens that came into my office to buy a vehicle that I had shown them picked something that was pretty practical to what their needs and buget could fit. Some of the most popular cars were the Civic, Galant, Sonata, Mazda3, Sebring, S-10, and Jeep Grand Cherokee. Only a very few of the young ones wanted sports cars. And when they came in they almost always put down at least 5k.
That town was 50% young drivers, and I have got to hand it to them there really wasn't all that many wrecks, considering the sized of the town (130,000) people. When they were left on their own they really did follow the advice of their parents. and they would not get something outlandish.
BR.....I think any 18-20 something year old gets a sudden jolt of reality when they join the armed forces. That, as opposed to some of the stories I hear from some of the young people that my son goes to school with. Mostly, their parents "owe" them a caror, they somehow are entitled to a car.....not just any car, but a very nice car. Yeah, right!
Perceptions change a bit when Mommy and Daddy aren't holding their hands upon them joining the military....and faced with much more pressing issues than whether they are getting a nice car. Especially, when they are facing the fact that they have to pay for a vehicle themselves (out of their meager military pay).
Kind of a sales story....
When I was looking for a Tahoe there happened to be a guy (maybe 18-19) who was looking at a new one the dealership had in the showroom. It was totally loaded with dealer installed after market wheels/tires, chrome this and that, after market seats, as well as a modified stereo with DVD screens in the headrests. It was real tricked out. With the additional equipment, the dealer had a sticker on it of around $60K.
Salesman approached the kid reluctantly. They both went through the Q&A. The teen wanted to know about the wheels, stereo, DVD player, etc. I didn't hear one question from him regarding the "nuts and bolts" of the vehicle (like engine size, fuel economy, hauling capability, towing capacity, etc). He didn't want to know anything about what a normal person would buy such a vehicle for. He wanted the bling.
Anyway, I over heard the teen ask the sales person if he'd hold it for $200. Sales person asked how much more he was going to put down. Teen said "maybe another $300" more down, but he'd finance the rest. The sales person tried to steer him away from the Tahoe towards the Cobalts or the used car dept. Teen would have none of that, though. He wanted that Tahoe.
Long and short of it, the sales person cut him loose and told him, rather bluntly (and correctly) that he didn't think he could get the teen financed. More importantly, the salesperson said that even if he could get the teen financed, he wouldn't sell him the Tahoe because his concience wouldn't let him.
The teen got the big attitude, got loud, and left in a huff.
I just chuckled. The poor sales person spent about 30 minutes with this guy for no good reason.
Yeah ..... but he could watch a lot of DVD's (borrowed from his friends, even they cost money) because going to the movies would be out of the question.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
This situation came up recently - relative found a car but kept shopping for a week or two. Went back to buy the car but the CarFax showed a second owner that wasn't on the CarFax the first time she looked at it.
The salesperson said that they sold a similar car off the lot last week and got the VINs mixed up and had to redo the paperwork with DMV.
Simple clerical error or something nefarious? And is a used car worth less simply because it's a two owner one instead of a one-owner?
I would say no and no. I have seen VIN mix up a couple of times. As long as both carfax reports are clean, it was not nefarious. I would rather have a clean 2 or 3 owner car than an abused one owner car.
Sounds like a simple screw-up. The number of owners has no impact on the trade value of a car. It may have some impact on the retail value, because buyers like "1 owner" cars. So someone may pay a little more on the retail side, but not much.
Thanks for the info. The simple screw-up may have cost the dealer a sale today however. We've also been wondering why a car sold in Scarsdale NY went to auction to PA and then to a dealer in VA. With all the stories of title washing, it does make one suspicious.
...a new white Pontiac G6 with temporary tags after work last night.
That kid who wanted the $60K Tahoe with only $500 down should've been shown the reality of his situation:
MSRP = $60,000 PA Sales tax @ 6% = +$3,600 Title, registration, other = +$900 Cash down payment = -$500 Total amount to be financed = $64,000 Market finance rate = 7.64% Monthly payment for 60 month term = $1,286.69!
That figure is higher than my mortgage payment including property taxes and homeowners insurance!
Geeze, even if he was STUPID enough to finance it for 84 months, he'd still end up with a $997 monthly payment assuming it was at 8% (unlikely).
Shoot, the insurance alone on such a vehicle would probably be a deal breaker.
lemko....I'm with you. There's no reality in some young people's expectations. I don't know how that happens. It's almost like they're playing with Monopoly money. They have no idea how they're going to pay for it, but by golly, they're going to get that slick ride.
As they say, there's nothing common about common sense.
lemko....I'm with you. There's no reality in some young people's expectations. I don't know how that happens. It's almost like they're playing with Monopoly money. They have no idea how they're going to pay for it, but by golly, they're going to get that slick ride.
I sell mazdas and last week I had a girl and her mother walk in and look at a mazda 3. They wanted to keep the payment down and just wanted a basic car, so I showed them a 3 for 17.6k new, (they wanted new). Anyway they loved it we did the numbers, they wanted to put 6,000 down to help out. I showed them 213/month for 60 @ 3.9%.
They responded saying that they could believe howw high the payment was. When I asked the obvious question, they said they had calculated that car for 100 a month for 48 months!!!
Some time ago I mentioned on this thread--I think--that two of my students (college) had each bought brand new cars using their insurance settlement. In both cases they were in friend's cars that were hit by other drivers. One bought a brand new Hummer H2 and the other a brand new Mercedes SLK 250 so it's possible that this kid had come into a settlement, or maybe a trust fund or maybe had some foolish parent or guardian willing to pony up some, or all, of the money for a $65K car. In other words he might have been a legitimate, if misguided, buyer. Many sales folk on this site (and its precursor) have warned about the danger of assumptions based on age, appearance, demeanor, etc.
I can state that the student lots on my campus are full of a surprising number of high dollar cars, trucks and SUVs. In fact the student lots generally have a lot more new and expensive cars than the faculty and staff lots and I teach and a university that is generally considered affordable, even cheap.
Now, that doesn't in anyway negate the basic argument that it would be a very stupid fiscal decison for the vast majority of us and that the majority would likely include this young man. Oh, and $1200/month is higher than my mortgage with all fees included, too.
cobra...that's just plain ignorance on your customers part. They had no basis, in reality, of what the car was going to cost.
48 mos X $100/mo=$4,800. With $6K down, that puts them at $10,800 without interest charges or taxes. Not quite enough to get them where they need to be.
Yeah the International Bank of Daddy is very generous with credit terms. :P
Speaking of Defenders earlier this week I had a guy come in that has five TDI Defender 110s and is looking to unload them.
They are all gray market cars imported from Germany with mileage between 55,000 and 85,000. All titled as 1997 Defenders in MA but are actually 1998 or 1999 models.
I didn't know you worked for Flatirons! If I'm ever in the market ... perhaps an LR2 for the wife when the VUE needs to be replaced.
I'll chime in on the car note vs. mortgage payment -- all in, my mortgage is $1250/mo, so I'm just outside that window.
What's funny is that if you peruse the "Prices Paid" boards for things like the BMW 6-series, Porsche 911, etc., you see posts where folks are making a lease payment in excess of $1000/mo!
Hard to fathom folks renting a car for that much money.
We won't deal in grey market. What really pained me is we were in Aruba (Master's cruise) doing an ATV tour when 5 brand new 110's rolled up. Would have killed for them.
Comments
I guess that is a compliment.
Now what exactly did I say again?
i remember a time when it was a badge of honor to make it through a big storm in my car. hey, i learned how to do donuts in a front wheel vehicle. :shades:
part of the problem perhaps is some people of 16, 17 and 18 years of age don't recognize how precious and tenuous life is. they are ruled by other thoughts and feelings some of us older folks can only remember.
as i've gotten older, i've seen a few things that make me wiser and more concervative w.r.t. snow and sleet and freezing rain.
like cars spinning 360s on the highway in front of me, tractor trailers jack-knifing, and this one sticks in my mind: a loading van stopped in it's lane with the gate down, and a car that unfortunately didn't stop because of the ice right behind it.
the van was fine, but the car behind it had no roof. there were EMTs and cops and firemen on scene, but the jaws of life weren't being used.
I didn't think you were old enough to have that problem but if you need a refresher read your post 7510. Just don't let the others on this board catch you doing it. They might not want to talk to you anymore if you can't remember what they say.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
Have a device with some kind of governor where I can control the criteria. If they speed, it notfies me and stays within what I set and then when they stop, it won't start again. Same thing if they have anyone in the back seat while they're driving.
After several tickets and minor fender benders, I can honestly say, I've been very lucky with them.
Buying anything new is just asking for it.
http://losangeles.craigslist.org/wst/car/264917798.html
Perfect example of what to get. Safe, solid, and cheap(probably get it for $3500 or so if you haggle)
SUVs are right out, because they are trucks - and require skill that new drivers don't have(or many adult drivers either, so it seems).
Mobil Guardian makes a product that is similar to Lojack but you can track your vehicle on the internet and see how fast it is going and where it is. Best of all, with a couple of clicks you can diable the car. It won't stop right away but when the engine is turned off, it won't start again until you enable it over the internet
Turns out it belongs to a 20 year old lot guy who works there for $10/hour :surprise: :surprise:
He gets money sent from overseas, and just works for gas money.
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
No, I believe that the great modern philosopher Dirty Harry Callahan in the movie 'Magnum Force'.
I try to live by that motto, and it was reinforced last year when I almost drowned going down a water silde that three 7-year old girls (one being my granddaughter) had just negotiated without a problem.
I would add that I've done, as well as seen, more than a few things that make me wiser.
It's a hard fact that teens will make a lot of mistakes out there. For most of the teenagers they will be lucky, there will be minimal consequenses, but the shock of realizing what might have been will imprint it in them as a learning experience that they will never forget.
A lesser number will be lucky but will attribute it to their previously mentioned sense of immortality. Some of these will go to perpetuate the theory of Darwinism.
For a thankfully much smaller number there will be no luck, no learning experience, just terrible, tragic consequenses.
The way to help all three groups from requiring the benefit of luck in the first place, and thereby helping the rest of us at the same time, is through better driver education.
Just as you can enter the adult world as a high school drop out, but then go on to further education and better your chances in life, you can obtain a drivers licence with the minimum of training but go on to many interesting types of further driver education and better your chances of life!
I considered myself to be an excellent driver at the age of seventeen, but the only reason I'm here now is due to good luck and good reaction times. It humbles me to think what an [non-permissible content removed] I was then, and as grateful as I am that I never caused myself any injury, I'm doubly grateful that I never injured anyone else.
The best you can do to help a teen get through the first few years and safely get the experience they need, is to buy them the tools that can give them the best chance. It really is money well spent.
don't forget even very safe vehicles have their limitations.
i remember i used to drive by a spot on the way to work where 4 girls in a 240 hit a tree. the car split in half and 3 died. i am glad people weren't putting up those memorials at accident death sites like you see now.
we made it past month 4. we have graduated license privileges. after 3 months they can drive with a non adult passenger.
several of our friend's kids got in accidents during month 4.
i will agree that i wish my kid drove something really old and cheap, in case it got damaged.
Though I can only speak in retrospect, a lot of the stereotypes about teen drivers are true. However, I don't like being lumped in that type of category. I'm a safer driver than most people 10 or 20 years older than me. And certainly better than those who are in their 70s.
Actually, that is not true. Some kids go through their entire tenure as teens without an accident but some have the utter gall to wait until they are full-fledged adults before taking the plunge.
tidester, host
Me driving on a freshly moistened, coral slick road in Okinawa, Japan.
Old Okinawan guy in a minivan watching me and timing his move.
Guy pulls out in the road and literally stops as he's watching me head for his van.
I hit the non-ABS brakes. I try to modulate but the coral dust on the road makes it useless. I'm sawing at the wheel but only proceed perfectly straight. Luckily, I wasn't moving very fast and at the last instant, the front wheels get some control and I'm able to steer. It was no use because I was already too close. My front left bumper and fender mash into the side of his van. The damage was very minimal. A few dents and scrapes and a broken turn signal cover. When the cops arrived the guy tried to say I was speeding. Luckily, there were witnesses.
I didn't have any issues whatsoever putting my son in a car that he had some "skin" involved (his own money). It's not a free ride. There are responsibilities that go with that car and his license. I'll admit that I agreed with my son that I would match whatever money he saved to put into a car, and I did. But, he also had to take into consideration what insurance was going to cost him. What gas would cost him as well as maintenance.
I had final say on what he chose. The car, while being his car, was still to be registered in my name. I control where/when it goes. There were certain cars that were off limits....namely, Celicas, Preludes, Camaros/Firebirds, trucks/SUVs, Mustangs, no coupes of any type (4-doors are cheaper to insure).
His big "nut" was going to be insurance, so he shopped carefully. Fuel costs were also a concern for him. Car loans were also forbidden (I won't co-sign anything...not even for my son).
He ended up with an Elantra that has served him very well. He stuck in half the money. I came up with the other half.
It was a struggle for him with insurance (although, it's dropped considerably as he's gone from teen years to being 20)....even with an Elantra. But, he's finally got his work/school schedule tweaked to the point where he's doing well with both and has a little jingle in his pocket to cover all of the car's expenses. While he says he's poor all of the time, I tell him he's not (he's got a roof over his head, a full fridge, a warm bed).
Yes, safety is good. But, so are the responsibility/financial lessons that can be learned in driving a car....particularly for a young driver.
Me neither. And I've not had an accident as an adult either. Oh, I've had a few close calls but I guess I've been lucky.
Anyone had experience in selling cars directly to teens?
tidester, host
Not since I sold my 67 Mustang when I was 19.
Best Car for a new teenage driver
MODERATOR /ADMINISTRATOR
Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name.
2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
Review your vehicle
I have, I used to sell cars in Jacksonville, North Carolina. If you don't know where that is, it is right next door to the USMC base Camp Lejeune. I sold Mazdas and Chryslers. 96% of our traffic was aged 18 to 24. And i have to say that most of the teens that came into my office to buy a vehicle that I had shown them picked something that was pretty practical to what their needs and buget could fit. Some of the most popular cars were the Civic, Galant, Sonata, Mazda3, Sebring, S-10, and Jeep Grand Cherokee. Only a very few of the young ones wanted sports cars. And when they came in they almost always put down at least 5k.
That town was 50% young drivers, and I have got to hand it to them there really wasn't all that many wrecks, considering the sized of the town (130,000) people. When they were left on their own they really did follow the advice of their parents. and they would not get something outlandish.
Perceptions change a bit when Mommy and Daddy aren't holding their hands upon them joining the military....and faced with much more pressing issues than whether they are getting a nice car. Especially, when they are facing the fact that they have to pay for a vehicle themselves (out of their meager military pay).
Kind of a sales story....
When I was looking for a Tahoe there happened to be a guy (maybe 18-19) who was looking at a new one the dealership had in the showroom. It was totally loaded with dealer installed after market wheels/tires, chrome this and that, after market seats, as well as a modified stereo with DVD screens in the headrests. It was real tricked out. With the additional equipment, the dealer had a sticker on it of around $60K.
Salesman approached the kid reluctantly. They both went through the Q&A. The teen wanted to know about the wheels, stereo, DVD player, etc. I didn't hear one question from him regarding the "nuts and bolts" of the vehicle (like engine size, fuel economy, hauling capability, towing capacity, etc). He didn't want to know anything about what a normal person would buy such a vehicle for. He wanted the bling.
Anyway, I over heard the teen ask the sales person if he'd hold it for $200. Sales person asked how much more he was going to put down. Teen said "maybe another $300" more down, but he'd finance the rest. The sales person tried to steer him away from the Tahoe towards the Cobalts or the used car dept. Teen would have none of that, though. He wanted that Tahoe.
Long and short of it, the sales person cut him loose and told him, rather bluntly (and correctly) that he didn't think he could get the teen financed. More importantly, the salesperson said that even if he could get the teen financed, he wouldn't sell him the Tahoe because his concience wouldn't let him.
The teen got the big attitude, got loud, and left in a huff.
I just chuckled. The poor sales person spent about 30 minutes with this guy for no good reason.
He'd be living in it for 8 years.
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
Yeah ..... but he could watch a lot of DVD's (borrowed from his friends, even they cost money) because going to the movies would be out of the question.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
It seems like this guy could barely scrape $500 for a downpayment.
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
I thought this time of year was supposed to be the dead zone for car sales....
Post Christmas bills, bad weather, and all that.
Foklore says that things don't pick up again till Tax returns come in to act as down payments.
Another folktale that isn't so? (Note: If Buffy doesn't REALLY slay vampires, I don't want to know, so be gentle when you tell me the truth) :shades:
(oohh another Buffy fan???) :shades:
Normally, Jan-Mar are pretty good months.
We have a slowdown in early April die to tax time.
The salesperson said that they sold a similar car off the lot last week and got the VINs mixed up and had to redo the paperwork with DMV.
Simple clerical error or something nefarious? And is a used car worth less simply because it's a two owner one instead of a one-owner?
thanks!
Steve, Host
SUVs & Speed Shop
The number of owners has no impact on the trade value of a car.
It may have some impact on the retail value, because buyers like "1 owner" cars. So someone may pay a little more on the retail side, but not much.
Steve, Host
SUVs & Speed Shop
We do that all the time.
People are already getting their refunds. Had one guy pick up a 5 grand check this evening.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
That kid who wanted the $60K Tahoe with only $500 down should've been shown the reality of his situation:
MSRP = $60,000
PA Sales tax @ 6% = +$3,600
Title, registration, other = +$900
Cash down payment = -$500
Total amount to be financed = $64,000
Market finance rate = 7.64%
Monthly payment for 60 month term = $1,286.69!
That figure is higher than my mortgage payment including property taxes and homeowners insurance!
Geeze, even if he was STUPID enough to finance it for 84 months, he'd still end up with a $997 monthly payment assuming it was at 8% (unlikely).
Shoot, the insurance alone on such a vehicle would probably be a deal breaker.
As they say, there's nothing common about common sense.
Heck, that $60K price is withing spitting distance of the under $70,000 we paid for our first townhouse in the DC suburbs in 1983!
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
Incidentally, that is not a affliction that is specific to the young.
tidester, host
I sell mazdas and last week I had a girl and her mother walk in and look at a mazda 3. They wanted to keep the payment down and just wanted a basic car, so I showed them a 3 for 17.6k new, (they wanted new). Anyway they loved it we did the numbers, they wanted to put 6,000 down to help out. I showed them 213/month for 60 @ 3.9%.
They responded saying that they could believe howw high the payment was. When I asked the obvious question, they said they had calculated that car for 100 a month for 48 months!!!
Some time ago I mentioned on this thread--I think--that two of my students (college) had each bought brand new cars using their insurance settlement. In both cases they were in friend's cars that were hit by other drivers. One bought a brand new Hummer H2 and the other a brand new Mercedes SLK 250 so it's possible that this kid had come into a settlement, or maybe a trust fund or maybe had some foolish parent or guardian willing to pony up some, or all, of the money for a $65K car. In other words he might have been a legitimate, if misguided, buyer. Many sales folk on this site (and its precursor) have warned about the danger of assumptions based on age, appearance, demeanor, etc.
I can state that the student lots on my campus are full of a surprising number of high dollar cars, trucks and SUVs. In fact the student lots generally have a lot more new and expensive cars than the faculty and staff lots and I teach and a university that is generally considered affordable, even cheap.
Now, that doesn't in anyway negate the basic argument that it would be a very stupid fiscal decison for the vast majority of us and that the majority would likely include this young man. Oh, and $1200/month is higher than my mortgage with all fees included, too.
Gogiboy
48 mos X $100/mo=$4,800. With $6K down, that puts them at $10,800 without interest charges or taxes. Not quite enough to get them where they need to be.
As tidester states, however...this isn't limited only to the young people, though.
Most of them were bought by their parents but I do have this one girl who bought it herself right after college.
I am sure her dad gave her the money for the down payment but she is on the note by herself with tier zero credit.
Speaking of Defenders earlier this week I had a guy come in that has five TDI Defender 110s and is looking to unload them.
They are all gray market cars imported from Germany with mileage between 55,000 and 85,000. All titled as 1997 Defenders in MA but are actually 1998 or 1999 models.
We might buy one not sure yet.
I'll chime in on the car note vs. mortgage payment -- all in, my mortgage is $1250/mo, so I'm just outside that window.
What's funny is that if you peruse the "Prices Paid" boards for things like the BMW 6-series, Porsche 911, etc., you see posts where folks are making a lease payment in excess of $1000/mo!
Hard to fathom folks renting a car for that much money.