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Chronic Car Buyers Anonymous

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  • kyfdxkyfdx Moderator Posts: 235,188
    Lease is up in 17 months... shopping hard... ;)

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  • jayriderjayrider Member Posts: 3,602
    Only leased one car. I swear that I was already thinking what to get next in 6 months. Drove me crazy knowing there was a finite period of driving it. Got out after 2 years and now own both vehicles which has redirected my ocd to focus on other stuff.
  • stickguystickguy Member Posts: 50,433
    since I have had my car just about 51/2 months now, and have put something in the neighborhood of 500 miles on it, I could probably charge it once a week and be fine.

    if anything, I am the perfect person for one of these, though at this point, I am trying to downsize the fleet.

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • abacomikeabacomike Member Posts: 12,254
    edited June 2013
    Only leased one car. I swear that I was already thinking what to get next in 6 months. Drove me crazy knowing there was a finite period of driving it. Got out after 2 years and now own both vehicles which has redirected my ocd to focus on other stuff.

    A "chronic" car buyer's worst enemy is leasing! If I wanted to reduce (note the words wanted to) the number of cars I acquired, I would lease instead of buy my cars. Early termination of a lease can be quite costly. When I leased vehicles, it was like going on a strict diet - no sweets, few carbohydrates, etc. I couldn't wait for the lease to be up so I could get something brand spanking new!

    So, if I decide to become more frugal - keep a car for a few years - I would lease my cars.

    Posters to this forum are, for obvious reasons, much more likely to buy their cars rather than lease them.

    Any disagreements?

    2021 Genesis G90

  • tifightertifighter Member Posts: 3,591
    Yeah, in the past decade, the vehicle I kept the longest was the one I leased. Haven't leased since. :blush:

    I think I could be tempted by a good 24 month lease, on the other hand...

    23 Civic Type-R / 22 MDX Type-S / 21 Tesla Y LR / 03 Montero Ltd

  • abacomikeabacomike Member Posts: 12,254
    I think I could be tempted by a good 24 month lease, on the other hand...

    Yes - I leased a 1991 Mercedes 300E for 60 months (only way I could afford a Mercedes way back then) and actually kept it for the full 60 months. I put 60,000 miles on that car - had no problems at all with that car. Drove as good on the last week of the lease as it did when I first got it.

    As for leasing in the future, I agree - a good 24 or 27 month lease could tempt me as well. Mercedes does at times offer 27 month leases.

    I leased a Ford Taurus back in 1989 for 24 months on a Red Carpet Lease. It seems as I get older, I like a new car more frequently.

    My 2014 Mercedes E350 Sport Sedan is one I will keep until the 2016's come out. 2016 is the year they are doing a complete redesign on the car. The only reason I bought a 2014 was because they made some significant sheet metal changes and technology improvements for 2014 on the Sport model version. The Luxury version had very few changes - there is a significant sheet metal and grille difference between the Sport and Luxury versions for the very first time in the history of the E Class.

    2021 Genesis G90

  • corvettecorvette Member Posts: 10,236
    I really liked the 24-month lease on my Audi A4 (it was a fantastic deal and I would do it again in a heartbeat if they had another similar lease program). I knew I would be in the market again in X number of months. That was good enough to satisfy my CCBA impulses. Admittedly, that impulse doesn't run as deep for me as it does for some of the others on this board! :D
  • qbrozenqbrozen Member Posts: 32,889
    As others have said, I think 24 mos would be my limit. That's still 6 months longer than any of my last 5 daily drivers. :blush:

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • nyccarguynyccarguy Member Posts: 16,373
    One of the things I like about my BMW lease is that it is relatively short, 30 months. For those 30 months, I'm allowed 50,000 miles which keeps me within the free maintenance/warranty period for the life of the lease.

    2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD

  • fintailfintail Member Posts: 57,092
    I'd think a 24 or so month lease would be the CCBA's dream - an excuse to get another car every other year. Unless you buy at the end of the lease, of course - I don't know if the inflated residual is stuck to by the dealer, or if they will sell for real world money.

    I'm still not sure what I will do at the end of my term. I like the car, but who knows what might be out by then, or if I will want to keep a car payment on the payroll.

    In a completely un-CCBA direction, my grandmother has now announced when her license expires this year, she is not going to renew. She said this 5 years ago, but now that she is within sight of 90, I think she means it. Guess who will be in charge of selling her car...anyone want to buy a 10 year old Taurus with 50K on it? (most mileage from my uncle when they go visit my mother).
  • mark156mark156 Member Posts: 1,915
    If I were to lease, I think two '2' year leases would be perfect rotating every other year. So, every year you get a new car! :blush:

    M156
    2010 Land Rover LR4, 2013 Honda CR-V, 2009 Bentley GTC, 1990 MB 500SL, 2001 MB S500, 2007 Lincoln TC, 1964 RR Silver Cloud III, 1995 MB E320 Cab., 2015 Prevost Liberty Coach
  • kyfdxkyfdx Moderator Posts: 235,188
    in 2011, I leased a Z4 for 24 months... flipped it to a friend after 30 days.. :surprise:

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  • fintailfintail Member Posts: 57,092
    A friend of mine is about 13 months into a 30 month (I think) Prius lease - he wants out badly. Good luck with that. I think he'll be paying through the nose, or just be stuck with it.

    I like the 2 rotating lease idea, good for someone with a spouse.
  • jayriderjayrider Member Posts: 3,602
    In Illinois, when you lease you pay the full 6.5 % sales tax. You should roll it into the lease. $1625 on a 25k car or $68 per month for 24 months. Do it again in two years and you fork over another $1625. Not very short term lease friendly.
  • tjc78tjc78 Member Posts: 15,849
    That sucks! You should only have to pay tax on the portion you are using. Nice cash cow for Illinois, not even NJ does that!

    2023 Mercedes EQE 350 4Matic / 2022 Ram 1500 Bighorn, Built to Serve

  • stickguystickguy Member Posts: 50,433
    I would guess that flipping leases would make more sense if you stay with the same brand. otherwise the bank fees and disposal fees will mount up every 2 years. Get those waived, and different story!

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • tjc78tjc78 Member Posts: 15,849
    Yes, those fees can add up. It adds about $1000 to most leases. If the MF is highly subsidised (as most good leases are) it softens the blow.

    The easiest way to avoid a dispo fee is to get the dealer to buy your car for their lot from the leasing company.

    2023 Mercedes EQE 350 4Matic / 2022 Ram 1500 Bighorn, Built to Serve

  • corvettecorvette Member Posts: 10,236
    edited June 2013
    "A friend of mine is about 13 months into a 30 month (I think) Prius lease - he wants out badly."

    If gas prices spike to $4.50/$5, he may be able to sell it for more than the payoff. That may also a great time to pick up a used SUV.
  • Sandman6472Sandman6472 Member Posts: 6,952
    Yesterday while moving vehicles lot to lot, saw 2 trailers of MB's coming in...looked like GLK's, C Classes and the small 2 door coupes. The one's that came in a couple of weeks ago are still sitting there so they have close to 40 by my rough count. Guess they are waiting till around the July 4th weekend to put them into rotation as things look to be slow right now. We're filling up our outer lots with vehicles...I guess once schools let out and the July 4th weekend comes, things will pick up with summer vacations and all. Even though it does get pretty hot down here, folks still come to Florida for the Orlando parks and the cruises out of Port Everglades and Miami. I know that on Saturdays and Sundays, many cruisers pick up rentals.

    With the economy definitely improving and consumer confidence rising, folks are traveling big time again. I heard on the news earlier that May was a stellar month for U S auto sales...folks want/and are replacing their older vehicles with new ones. A great thing for the economy and our country. Hopefully we'll be adding to our stable once the '14 models show up!

    The Sandman :) :sick: :shades:

    2023 Hyundai Kona Limited AWD (wife) / 2015 Golf TSI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)

  • fintailfintail Member Posts: 57,092
    So which of those MBs will you be buying? ;)

    C/GLK/SLK are the mainstays of the highline Sixt fleet. They have plenty of Es and MLs, but not like the smaller cars. Even some GLs, I think.
  • nyccarguynyccarguy Member Posts: 16,373
    He did say he'd like a small ute because it would be easier to get in and out of. The GLK has SANDMAN written all over it!

    2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD

  • fintailfintail Member Posts: 57,092
    Make it a diesel and he really can't go wrong. Economy, durability, with some premium feel.
  • nyccarguynyccarguy Member Posts: 16,373
    Absolutely!

    2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD

  • stickguystickguy Member Posts: 50,433
    completely unexciting, and I could never drive it, but looks like a good deal for the money for a winter/station/beater/teenager car.

    http://www.torchlightmotors.com/1998-Toyota-Corolla/Used-Car/Parlin-NJ/5241/3107- 864/Details.aspx

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • Sandman6472Sandman6472 Member Posts: 6,952
    It's been pretty dead in here lately but life is getting a bit more busy for so many of us that posting and reading has decreased and now with summer upon us, schools ended for the summer today, I don't expect things to pick up much before fall. I know I don't come in as much as I used to either but life sometimes gets in the way.

    The Sandman :) :sick: :shades:

    2023 Hyundai Kona Limited AWD (wife) / 2015 Golf TSI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)

  • nyccarguynyccarguy Member Posts: 16,373
    Since one of my favorite leisure activities (on beautiful, sunny, Saturday afternoons after work) is now mowing the lawn, I've now got even less time (3 kids under 7 & a 6 day-a-week job) to keep our family's 3 vehicles clean. So after I put the kids to bed tonight, I headed into the garage & cleaned the inside of my wife's Pilot. Scrubbed the rubber (Honda) mats from all 3 rows, conditioned the front seats with Griot's Garage leather care, wiped the dash and every little crack & crevice with windex and a rag, vacuumed the floor of all 3 rows, uninstalled & reinstalled all 3 car seats. I did a great job & am proud of myself. Next evening I have time (& it's not supposed to rain 2" - 4" overnight), ill wash the exterior. It is also definitely due for a wax.

    2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD

  • stickguystickguy Member Posts: 50,433
    now that my son is home for good, I need to attack the TL. It got an occasional wash, and rare wax, over the last few years since it was usually at school with him, and he parked under some trees. so it took a beating (and already had a ton of scratches).

    but, we are going to work on it Saturday. Even going to give a clay bar a try (never have used one) then a good quality wax. might not look like new, but will be as good as it can be. Will also detail the interior, which is years overdue for that.

    plus vacuuming out all the tree crap from the cowl. Yuck. Man, I love having a garage to park in!

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • tjc78tjc78 Member Posts: 15,849
    Clay bar really helps before a wax. Use a spray detailer to lube the clay, turn/knead it frequently and the #1 important thing is if you drop the clay throw it away!! It will have gunk in it and scratch up the paint.

    I did the Marquis when I first got it and the neglected paint got nice and smooth and the wax went on/off like a much newer car.

    2023 Mercedes EQE 350 4Matic / 2022 Ram 1500 Bighorn, Built to Serve

  • steverstever Guest Posts: 52,454
    Clay bars are fun, but I just use water to lube mine. Seems to work just as well.
  • nyccarguynyccarguy Member Posts: 16,373
    You'll be impressed with the results of the clay bar. It takes away all of the paint imperfections.

    2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD

  • michaellnomichaellno Member Posts: 4,120
    nyc / stick - good on ya both for getting to the Pilot and TL for some much needed cleaning.

    Spent a couple days earlier this week in Boston - no rental car as I was in Cambridge and used taxis to get around. Nothing terribly exciting to see other than a 4 door Bentley parked in front of the hotel on Monday night.

    As always, I've been giving a lot of thought to my next car - no earthly idea when I might get it (wife says after the CX-7 is paid off). Not sure how many other car enthusiast websites everyone looks at, but there was an article recently on one of them about how the BMW 1-series will, in time, become E30-like in desirability. Small, light, RWD, inline-6, etc.

    So it got me thinking about other cars available now that we'll yearn for in 5-10 years. Feel free to discuss or disagree.

    Buick Regal GS - the turbo, AWD, stick shift model. Limited numbers, 270HP. Even though its from GM, it might have some collector status eventually.
  • nyccarguynyccarguy Member Posts: 16,373
    I LOVE BOSTON. It is my favorite city to visit & is less than 3 hours from my house. My only problem with it (nothing's perfect) is the baseball team that plays there :P

    As always, I've been giving a lot of thought to my next car

    That makes 2 of us. With an emphasis on A LOT. In addition to the Wrangler Unlimited I've previously mentioned, my practical side is constantly showing its ugly head. I've been thinking of a CR-V to add to my list of cars to test drive next summer. I just love the fact that I could drive it for 5 years (& over 100K miles), pay it off, & still have a car worth $10K.

    I'm really gearing up for money saving mode as our house needs a lot of work that needs to be addressed in the next few years. New kitchen, Exterior needs to be painted badly, I need a new driveway, we'd like a bigger deck, we want to take the kids to Disney, figure out how we are going to pay for college for 3 kids, and then MAYBE start putting away some money toward retirement.

    2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD

  • michaellnomichaellno Member Posts: 4,120
    I've been to Boston quite a bit over the years, but mostly to the suburbs. This was the first time I've actually stayed in the core of the city. Cambridge was nice - my hotel was only a block from the offices where I was working, and the Cambridge Galleria mall was between the two.

    You're thinking of going from a BMW to ... a ... CR-V? Wow, talk about culture shock. But, I totally get the rationale behind it. Dependable, room for the kids, good resale value. Certainly better than the Wrangler Unlimited you are also talking about.
  • jpp75jpp75 Member Posts: 1,535
    A friend of mine bought a car like this a couple of years ago. It had more miles on it but it was still solid. She's not a car person and wants to spend as little as possible on transportation, so it was a good choice for her at the time. It ran well and was still solid, she drove it until she inherited a car a couple of years later.
  • jpp75jpp75 Member Posts: 1,535
    Boston is a GREAT city, we were there over Memorial Day, love it.

    Like you I'm always thinking about what to do when my lease is up in January 2014. The practical thing to do it buy it out, I like the G37....the engine is a little coarse but otherwise I do like the car and it's hard to beat for $31k. I could get a new Fusion or Accord for about the same money, but not sure I want to do that. The fun side of me wants to splurge on the new IS or Q50, and that gets into the lease vs. buy decision.

    LOTS to think about. :D
  • nyccarguynyccarguy Member Posts: 16,373
    I know a CRV is kinda vanilla, non-offensive, & worlds apart as far as the way it drives compared to my BMW. Like I said last week, as much as I LOVE my BMW do I really need "the ultimate driving machine" for my 65 mile/day (6 days a week) commute along mostly highways?

    2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD

  • fintailfintail Member Posts: 57,092
    Something I have used to quickly remove contaminants (sap especially) is a magic eraser type sponge. You'll need to use it with lots of water, but it kind of does the same thing. A quick wipe with one will smooth out paint, but removes wax too (it is kind of like a very fine sandpaper, in principle), so some work is needed.
  • steverstever Guest Posts: 52,454
    Those white things (Mr. Clean is one brand)? I have a couple of those around here but they haven't seen much use.

    There's no issue about potentially removing wax on my cars. :D
  • laurasdadalaurasdada Member Posts: 4,684
    The "Cigar Lighter" port stopped working (wouldn't charge my phone). After cursing myself for buying a British car, I had an epiphany: Check the fuse! I discovered that the XK has three fuse boxes: under hood, between the two rear seats and in the left "passenger footwell area." Of course, here in Los Estados Unidos, the left is the driver side, so of course I had to translate my English language owner's manual into Boston English...

    Of course, it was the fuse. In the engine bay fuse box. Which you acccess by:
    Pop the hood.
    Remove four plastic screws from the black plastic shroud of elegance and remove.
    Remove the fuse box lid.
    Replace fuse.

    As simple as CUE!

    My next car? Discounting I now have eight straight years of college to pay for, wife is non too subtle in her desire to install a new, bigger deck, more interior house painting and new furniture, I'm thinking of staying in the Jag family: F-Type coupe or XF sedan. We'll see, I think I'm good for a while longer now that I bought new sneaks for the XK and have use of the old SUV while daughter is in college. Maybe trade the 11.5 year old RX for a newer, more economical SUV, maybe a used Rogue, CRV, RAV4? Mitsu Outlander?

    (Note from Laurasdada's accountant: The preceeding paragraph is fantasy. He will be driving the mid-life crisis mobile for some time... ;) )

    '21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)

  • stickguystickguy Member Posts: 50,433
    I love Boston too. And am perfectly fine with the baseball team (I do love Fenway, and still owe them a debt of gratitude for 1986!)

    should be up sometime in the summer. My baby that is college hunting is interested in B.U., so that will give us an excuse to go up and visit.

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • jayriderjayrider Member Posts: 3,602
    When you find yourself becoming practical about cars, it might be maturation or low T. Take it from someone who knows. :P
  • nyccarguynyccarguy Member Posts: 16,373
    I'll still ALWAYS have my Prelude (until my kids start driving).

    2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD

  • tjc78tjc78 Member Posts: 15,849
    NYC,
    We are similar in age, do your best to start a 401k or similar retirement account. I put 8% of my salary and my employer matches .50 on the dollar. I've been putting into it for almost 13 years and am stunned at the amount in there already. The 8% hit isn't that bad because it's not taxed.

    Not trying to preach, but since I'm not a good saver I had to do something.

    I love Boston as well. The wife and I had a long weekend planned there in March but had to cancel when my Stepdad got sick.

    Fintail, I would have been scared to try Magic Eraser on paint. It did get ink of my ivory leather when nothing else would.

    2023 Mercedes EQE 350 4Matic / 2022 Ram 1500 Bighorn, Built to Serve

  • kyfdxkyfdx Moderator Posts: 235,188
    Try bumping that 401K up to 15%... and, give it 20 years..

    (it isn't as hard as it sounds.... ;) )

    You'll need a lot more money than you think....

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  • tjc78tjc78 Member Posts: 15,849
    I can't remember but I may be at the max for the employer match. I couldn't afford 15% but probably wouldn't hurt to bump it to 10.

    2023 Mercedes EQE 350 4Matic / 2022 Ram 1500 Bighorn, Built to Serve

  • nyccarguynyccarguy Member Posts: 16,373
    Thanks for the advice tjc78. You aren't preaching at all. We're all friends here. I have a ROTH IRA that up until maybe 4 years ago, I contributed to every year. My wife's 1st job matched her 403b contributions for the 5 years she worked there. I used to be fantastic at saving. Up until 3 years ago when we sold our condo for an almost $80,000 loss. Instead of having 20% to put down, I only had 10% and consequently have a rather large mortgage payment compared to what my wife & I make. My wife also makes $20,000 less than she did 3 years ago. Believe me, I'm not complaining at all. I've got a bunch of things in motion that will ease the squeeze in the coming months/years. I'm in the process of refinancing my mortgage (current rate is 5.125%, new rate will be 3.25%). My wife's Pilot will be paid off in 3 years. Once my Dad reaches 70 1/2 (he's 67), he's going to start collecting social security & I'll get a nice raise. When my kids are all in school, my wife will be able to work more.

    2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD

  • kyfdxkyfdx Moderator Posts: 235,188
    I max out my employer match at 6%... but, I started at 10% in my 30s... bumped it up to 15% in my '40s.. and, 20% in my '50s.... My wife has, as well..

    The 10% and 15% were the max allowed at the time... .but, now... the only cap is the $17,500 per year ($23K if you are over 50)... Both of our 401Ks are with Vanguard, and the plan has a lot of choices, so that helps..

    I look back and wish I had been putting 20% away in my '30s... I'd be able to retire, right now (at 55).

    But, starting next year... back to 6%.... My wife just got a buyout and retired.... so, we need some cash flow until she is eligible to draw on her retirement funds in three years... (at 59.5)

    You are right about how fast it grows.... we have a stunning amount of money in our 401Ks (and, it still scares me it won't be enough..)

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  • laurasdadalaurasdada Member Posts: 4,684
    Ditto all the advice here, NYC. You can borrow to finance your kids education, buy a house, buy a few cars, but it's hard to borrow to finance a retirement. If you have a 401K at work, ensure you are, at the very minimum, maxing your contribution to get the full match. The earlier and more you contribute will allow the most powerful force on earth to work for you: compounding!

    Up until a few years ago, we were fortunate enough to be able to both max our 401k contributions, but not wanting kids to have to borrow for their college, much is going to 529 plan now. Wife has a sizable 401k, she won't tell me how much... I'm trying to catch up...

    For all the trials and tribulations of the stock market, our few winners have more than made up for my many losers. A dangerous game, but as history has shown, over the long haul, you can grow your nest egg. If only I had sold all my tech stocks back in 2000.... Or loaded up on Ford in 2008... Or the Powerball machines would, for once, pick the correct six numbers! I mean, every time I buy a ticket I give them the six numbers to return. How hard is it, really!!! :P

    '21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)

  • steverstever Guest Posts: 52,454
    You'll need a lot more money than you think....

    Less if you aren't an active participant in here. :D
  • kyfdxkyfdx Moderator Posts: 235,188
    Also, less money is needed if you die young from boredom... ;)

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