Chronic Car Buyers Anonymous (Archived)

corvette · December 2018

I bought my first rental property this year and had planned to buy at least a couple more. The downturn didn't affect those plans. *shrugs*

qbrozen · December 2018

I despise being a landlord.

@stickguy you may be a bit relieved to know I was screwing up my BMW calculations. In your situation, without loyalty, you'd be more in the $350 neighborhood even with a healthy discount.

nyccarguy · December 2018

A shot of the crack in My windshield.

corvette · December 2018

qbrozen said:
I despise being a landlord.

I have a really good property manager, which helps a lot, other than the recent little hiccup with the tenant setting a mattress on fire, and dealing with the insurance company hiring an incompetent and dishonest contractor to fix the damage. :@

(The defective tenant is gone, BTW, the property manager got that taken care of!

)

corvette · December 2018

nyccarguy said:
A shot of the crack in My windshield.

Ouch! Which car is that? I think I've put a windshield in almost every car I've owned, which makes me glad there's no glass deductible in my state, and grateful to have a good glass company.

nyccarguy · December 2018

corvette said:

A shot of the crack in My windshield.
Ouch! Which car is that? I think I've put a windshield in almost every car I've owned, which makes me glad there's no glass deductible in my state, and grateful to have a good glass company.

That’s the Infiniti. CT has $0 glass deductible as well. I have an appointment to get it replaced on Wednesday.

stickguy · December 2018

Thanks Q. I am just going to enjoy the new car and stop worrying about other options. Only thing I’m looking at on Honcker are CUVS for the wife. When an RDX hits 350, I’m buying!

corvette · December 2018

nyccarguy said:

That’s the Infiniti. CT has $0 glass deductible as well. I have an appointment to get it replaced on Wednesday.

The first Altima I had, I had a cracked or chipped windshield replaced, then within a month, a tractor trailer kicked up a bunch of gravel and dirt, so I engaged the windshield washer. A rock had gotten caught under the wiper blades and scratched the new windshield.

Insurance paid for yet another windshield and I replaced the wiper blades, just for good measure.

henryn · December 2018

qbrozen said:
I despise being a landlord

I was a landlord for about 5 years, way back. Roughly 1987 to 1992, as I recall. Oil prices fell through the floors, housing in Houston was in terrible straits. The McNeil Lehrer Newshour on PBS talked about tumbleweeds blowing down Main Street in Houston, never mind that Houston is 500 miles from the nearest tumbleweed out in West Texas.

I picked up a much newer, much nicer house for pennies on the dollar as a foreclosure, but I absolutely could not unload my old house at any price, so I rented it out. After about 5 years, the housing market here recovered, and I was able to unload the old house. I have given some thought to buying rental properties in recent years, but my one and only experience as a landlord left a bad taste and so ...

venture · December 2018

henryn said:

qbrozen said:
I despise being a landlord
I was a landlord for about 5 years, way back. Roughly 1987 to 1992, as I recall. Oil prices fell through the floors, housing in Houston was in terrible straits. The McNeil Lehrer Newshour on PBS talked about tumbleweeds blowing down Main Street in Houston, never mind that Houston is 500 miles from the nearest tumbleweed out in West Texas.

I picked up a much newer, much nicer house for pennies on the dollar as a foreclosure, but I absolutely could not unload my old house at any price, so I rented it out. After about 5 years, the housing market here recovered, and I was able to unload the old house. I have given some thought to buying rental properties in recent years, but my one and only experience as a landlord left a bad taste and so ...

I'm in the process of trying to sell the house I bought for my daughter and my grandkids about 6 years ago when her husband turned out to be a snake and quit paying their mortgage. She got remarried and they just bought a much bigger house.

I do not want to rent it. I'm not sure what the alternatives are if it doesn't sell. It's in a great neighborhood, but is probably one of the least desirable houses there.

I don't want to spend $10,000 to recoup $5,000, but it may come to that. The kitchen is in need of work.

pensfan83 · December 2018

On investments/retirement my overall portfolio is down by 9% on the year. As others have said not much you can really do and I'm a ways away from retiring so we'll just ride it out.

@breld the wheels look great. If you put Audi centercaps on them the unknowing eye would think they were factory they look that nice.

graphicguy · December 2018

nyccarguy said:
A shot of the crack in My windshield.

OUCH!

benjaminh · December 2018

Michaell said:
.... And, I couldn't stop thinking how much CPO TLX I could get for that same $28K sticker price.

With the lease incentives you could get a brand-new TLX base for $28k.

kyfdx · December 2018

corvette said:
I bought my first rental property this year and had planned to buy at least a couple more. The downturn didn't affect those plans. *shrugs*

I was a landlord for about six years, 30 years ago. I hated it.

I made a pretty big real estate investment in 2012. 25% partner. It paid out a return quarterly, and it just sold. I'm kind of bummed about not having those regular checks, any more, but it paid off big. Of course, with a big tax bill to go with the gain.

Anyway, the timing was good, in that it allows me to ignore the recent downturn in stocks, because I'm sitting on unexpected cash. If I can't find another investment, our cash needs are covered for the next ten years (my wife and I are both semi-retired).

I love real estate, but just the hands off type of investments that someone else manages. I have no patience to deal with tenants.

graphicguy · December 2018

kyfdx said:

corvette said:
I bought my first rental property this year and had planned to buy at least a couple more. The downturn didn't affect those plans. *shrugs*
I was a landlord for about six years, 30 years ago. I hated it.

I made a pretty big real estate investment in 2012. 25% partner. It paid out a return quarterly, and it just sold. I'm kind of bummed about not having those regular checks, any more, but it paid off big. Of course, with a big tax bill to go with the gain.

Anyway, the timing was good, in that it allows me to ignore the recent downturn in stocks, because I'm sitting on unexpected cash. If I can't find another investment, our cash needs are covered for the next ten years (my wife and I are both semi-retired).

I love real estate, but just the hands off type of investments that someone else manages. I have no patience to deal with tenants.

I agree. That’s what my sister and I have with our Hilton Head condo. We pay a fee for a company to manage it. It’s worth the management fee. We’re pretty much hands off. One of us usually checks it out at least once/year to make sure the management team is keeping it in good shape.

My sister went down over Thanksgiving and spent a long weekend there. She said everything looks good. But, we paint it every year, and replace the carpet every two years. It’s due for both before next spring.

henryn · December 2018

venture said:

I'm in the process of trying to sell the house I bought for my daughter and my grandkids about 6 years ago when her husband turned out to be a snake and quit paying their mortgage. She got remarried and they just bought a much bigger house.

I do not want to rent it. I'm not sure what the alternatives are if it doesn't sell. It's in a great neighborhood, but is probably one of the least desirable houses there.

I don't want to spend $10,000 to recoup $5,000, but it may come to that. The kitchen is in need of work.

I'm not sure what "least desirable houses there" is referring to, other than "kitchen in need of work". But I do recall reading and being told by realtors, repeatedly, the cheapest (least expensive) house in a subdivision or neighborhood is going to be the easiest one to sell.

"Location, location, location" -- people will pay to be in a particular neighborhood, and if your house is the lowest cost of entry to that neighborhood, well ...

kyfdx · December 2018

@graphicguy

Sea Pines?

Between 1994-2011, we vacationed there, almost every year. My wife's sister rented the same condo for three weeks, every summer, and we would go down for a week and stay with her.

I remember the first year, the condos were selling for $189K (basically, a small two-bedroom apartment), and we were aghast at the asking prices. In 2011, $550K+.

breld · December 2018

For our upcoming move in 2019, I may have mentioned that we were thinking of renting our current home. That's still on the table, but more of a "Plan B" if the market to sell our house is not favorable.

We were feeling ambitious when we thought renting would be the way to go - over the last several weeks, after giving it more thought, we just don't think we have the stomach for it.

If we do end up going that way, it'll be with a management company all the way.

kyfdx · December 2018

Man.. I don't know the rental market in Denver, but I guess it's crazy.

But, isn't that a $700K house? How many people are in the market to rent at $5000/mo+?

graphicguy · December 2018

kyfdx said:
@graphicguy

Sea Pines?

Between 1994-2011, we vacationed there, almost every year. My wife's sister rented the same condo for three weeks, every summer, and we would go down for a week and stay with her.

I remember the first year, the condos were selling for $189K (basically, a small two-bedroom apartment), and we were aghast at the asking prices. In 2011, $550K+.

How’d you know? Yep, Sea PInes. We bought in 1987....the last time there was a downturn that we felt might last a long time. Turned out to be a good investment.

I would be embarrassed to tell you what we paid for the 4 BR, 5 BA condo we bought then (well under your $189K).

This time around, we’re looking at condos that are significantly smaller. Still, it’s not going to be cheap. But, we figure they will pay a lot better than any dividends we would be looking at from the market. And, they’ll appreciate at a much, much better rate, too.

venture · December 2018

henryn said:

venture said:

I'm in the process of trying to sell the house I bought for my daughter and my grandkids about 6 years ago when her husband turned out to be a snake and quit paying their mortgage. She got remarried and they just bought a much bigger house.

I do not want to rent it. I'm not sure what the alternatives are if it doesn't sell. It's in a great neighborhood, but is probably one of the least desirable houses there.

I don't want to spend $10,000 to recoup $5,000, but it may come to that. The kitchen is in need of work.
I'm not sure what "least desirable houses there" is referring to, other than "kitchen in need of work". But I do recall reading and being told by realtors, repeatedly, the cheapest (least expensive) house in a subdivision or neighborhood is going to be the easiest one to sell.

"Location, location, location" -- people will pay to be in a particular neighborhood, and if your house is the lowest cost of entry to that neighborhood, well ...

It has 3 bedrooms, but 2 of them are pretty small. OK for kids, but people are hung up on big bedrooms. All but one of the bedrooms have small closets. Carpet and paint is new in the 2 small bedrooms.

Floors in the upstairs bathroom and kitchen are laminate. I had it installed when I was getting the house ready for them to move in since I didn't have time to mess with it. A mistake I don't feel like fixing right now.

If I spend money to fix everything that needs fixing I will not get it back. I may have to though so I don't have to rent it.

Drivingfool · December 2018

Drove a QX30 at work a couple of hours ago. What a nice vehicle! Liked it better than the GLA it's based on for some crazy reason. It was black on black, not leather but not sure what they call it. Peppy little thing and drove very nicely. Will need to go check one of these out at the dealer. Local dealer has no 2019's in stock as of today which I don't quite understand. Might also see if they have any loaners that they would make for sale.
The black over black one at Hertz had just under 16K on the clock and have no clue if I could even buy that particular unit from them but will ask my manager. But personally, if I did go that route, would like something with a lot less miles on it. Also, who knows how many drivers have used the Hertz rental unit before today, something that makes me very uneasy. Purchasing a loaner might be the better way to go actually but will need to check this all out.
So now the Acura ILX and the Infiniti QX30 are my current favorites and considering I prefer a hatchback, the Infiniti could be my next vehicle. But, there's always a but, they aren't cheap, right above the $30K point which is a bit much for me right now. Could all depend on the trade-in value I get offer the Golf after they see the CarFax report.
The ILX I was looking at was the 2018 model with the Tech Package, has dual info screens. I also have to have SAT radio if I'm thinking of spending this kind of $ on a new vehicle. So will have to see but today's drive really opened my mind as to what I might want next time. The QX30 has just ok mpg's, 24/33, and they classify it as an SUV which to me is a bit of a stretch. At 48K and change right now and wondering if trading in before 50K might help me some? With the 2018 accident, am thinking not so much. Well, might be fun to go test drive a couple of vehicles the next few days!!

Mr_Shiftright · December 2018

kyfdx said:
Man.. I don't know the rental market in Denver, but I guess it's crazy.

But, isn't that a $700K house? How many people are in the market to rent at $5000/mo+?

My friend rents his Colorado house in summer and some winter weeks for way more than that. Of course, that is vacation rental--short term.

corvette · December 2018

venture, that sounds like a great starter home for someone. I’m not sure what the difference would be in selling it as is at a loss versus fixing it up and still selling it at a loss?

venture · December 2018

corvette said:
venture, that sounds like a great starter home for someone. I’m not sure what the difference would be in selling it as is at a loss versus fixing it up and still selling it at a loss?

Yeah. You're not the only one. It will become clear eventually. I'm going to do what has to be done to get rid of it.

breld · December 2018

kyfdx said:

Man.. I don't know the rental market in Denver, but I guess it's crazy. But, isn't that a $700K house? How many people are in the market to rent at $5000/mo+?

Yes on the house cost. But we wouldn’t require nearly that much in rent to cover our costs, nor would market command that much.

We had a nice chunk of equity from our last house to put toward this one.

Drivingfool · December 2018

We're lucky to have the smallest house in the neighborhood, last time I checked the property records. We live in an A+ school district and the elementary school is within walking/biking distance. Most of the homes are now going for over $425K and up. We don't have a pool and the kitchen and master bath need to be redone but figure whomever buys it will do that first. So, if we could get say close to $395K for it, a 4/2, we could move to the middle of the state and get something for under $250K and bank the rest.
After 31 years, just ready to move on and possibly buy where our oldest did last month. It's just time for this place to have a young family in it, just like we did back in 1987. The time has really come for us to let the next generation enjoy it!

Drivingfool · December 2018

Happy Holidays and a Merry Christmas for those that celebrate it! Will be nice to have another couple of days off to relax. So glad 2018 is almost gone!!

tbirdmarco · December 2018

Driving fool thank you same to you and your family today as well, and merry Christmas 21 m and their families who to celebrate. Michael nice on the on the test drives you do yesterday. Can wait to hear your impressions on post driving the Sonata sport with the 2 L turbo engine, I guess that’s a first in that car I know they had it in prior generations as an option of an engine in the limited and other trims. And your test drive of the Mazda six with a new turbo engine this coming up week.

qbrozen · December 2018

Holy cow. Cheapest one on Honcker to date. If this is before VPP, it would drop to right about $300/mo.

kyfdx · December 2018

breld said:

kyfdx said:

Man.. I don't know the rental market in Denver, but I guess it's crazy.

But, isn't that a $700K house? How many people are in the market to rent at $5000/mo+?

Yes on the house cost. But we wouldn’t require nearly that much in rent to cover our costs, nor would market command that much.

We had a nice chunk of equity from our last house to put toward this one.

I would absolutely sell it. Aren't you moving to have more time for your children? I wouldn't risk $700K of real estate for just enough to cover my costs.

laurasdada · December 2018

Got a a red BMW Z8 for Xmas! Can't seem to sign in to forums on my iphone, keeps telling me wrong password, or I'd post a picture.

And yes, unfortunately, it more than fit under the Xmas tree! But, it's the thought...

28firefighter · December 2018

The beauty of technology is that I can post here to wish all of you celebrating a very Merry Christmas at 37,000 feet.

The downside is that Sam expressed his desire to be “all done” all the plane about 90 seconds after we pushed back.

qbrozen · December 2018

Put me down for my ... is it 3rd punch this year? Just under the wire.

stickguy · December 2018

The 3 series? I must have missed my opportunity!

tifighter · December 2018

The December to remember, brought to you by CCBA.

28firefighter · December 2018

No kidding. So Alfa is gone...

stickguy · December 2018

I should have brought in the pro to negotiate there for me. Since I looked at them at that dealer.

breld · December 2018

qbrozen said:
Put me down for my ... is it 3rd punch this year? Just under the wire.

Nice! Look forward to the details.

henryn · December 2018

qbrozen said:
Put me down for my ... is it 3rd punch this year? Just under the wire.

Assuming, always a bad idea, but anyway assuming this means the Alfa is gone in favor of the BMW 3 series, I will make one observation.

The main problem (only real problem?) that @qbrozen complained about on the Alfa was the infotainment system. So anyone who thinks that infotainment problems aren’t dealing a serious blow to car makers needs to reassess that appraisal.

breld · December 2018

henryn said:

qbrozen said:
Put me down for my ... is it 3rd punch this year? Just under the wire.
Assuming, always a bad idea, but anyway assuming this means the Alfa is gone in favor of the BMW 3 series, I will make one observation.

The main problem (only real problem?) that @qbrozen complained about on the Alfa was the infotainment system. So anyone who thinks that infotainment problems aren’t dealing a serious blow to car makers needs to reassess that appraisal.

Good point.

28firefighter · December 2018

Infotainment is extremely important on the whole for manufacturers to get right. It’s why many (read Kia/Hyundai, VW etc) include so much technology in even their econobox cars - the millennial buying audience demands it.

I just personally don’t value it highly. My needs are limited to an aux jack, Bluetooth, and preferably HD radio. And, as I’ve noted, the Alfa barely hits those points it’s so bad.

qbrozen · December 2018

yup. I would never have thought infotainment would be so important, but here we are.

Wound up with the grey over black with more options that I care to have, such as BLIS. I was obviously impressed with how it drove. I think with better tires, it would probably hang right there with the Alfa. Gave the salesguy some laughs, especially the little drifting action through the highway onramp (hence my tires remark).

Still working on getting carplay on there. Have to update my phone, register with bmw, etc.

And I've accepted Vroom's offer on the Alfa. Hopefully that goes as smoothly as Carvana did on the LR.

The deal? Well, not as aggressive as I wanted, but still strong. About $25 less than my Alfa with just first month up front. I did take 10k miles rather than 12k, though. That aligns better with what I've been doing lately.

Finance guy gave me a heck of a hard time. I was more than willing to shake hands and part ways because he was "losing money," but apparently not losing enough that he couldn't come down even more. I even tried a cheaper vehicle, but after playing with the infotainment that lacked nav, I decided I just couldn't do it. Finance did not want to let me go. After he realized I was "all in" myself, he made a last ditch "even if I drop another $1k, I'm still $7 over your number." To which I said "would you do that deal?" He said he'd make it work, and we shook hands. I started off wanting 22.5% off, they said they couldn't do better than 18.5, and we landed on 20.925% off.

Have yet to face the wife. haha.

28firefighter · December 2018

qbrozen said:

yup. I would never have thought infotainment would be so important, but here we are. Wound up with the grey over black with more options that I care to have, such as BLIS. I was obviously impressed with how it drove. I think with better tires, it would probably hang right there with the Alfa. Gave the salesguy some laughs, especially the little drifting action through the highway onramp (hence my tires remark). Still working on getting carplay on there. Have to update my phone, register with bmw, etc. And I've accepted Vroom's offer on the Alfa. Hopefully that goes as smoothly as Carvana did on the LR. The deal? Well, not as aggressive as I wanted, but still strong. About $25 less than my Alfa with just first month up front. I did take 10k miles rather than 12k, though. That aligns better with what I've been doing lately. Finance guy gave me a heck of a hard time. I was more than willing to shake hands and part ways because he was "losing money," but apparently not losing enough that he couldn't come down even more. I even tried a cheaper vehicle, but after playing with the infotainment that lacked nav, I decided I just couldn't do it. Finance did not want to let me go. After he realized I was "all in" myself, he made a last ditch "even if I drop another $1k, I'm still $7 over your number." To which I said "would you do that deal?" He said he'd make it work, and we shook hands. I started off wanting 22.5% off, they said they couldn't do better than 18.5, and we landed on 20.925% off. Have yet to face the wife. haha.

Pictures or it didn’t happen.

qbrozen · December 2018

Oh, and the salesman asked that I not share the details because it will NOT be repeated. Apparently, some jackass on leasehacker actually called after my X2 deal and said "I want a BETTER deal than you gave him." Oy vey. Just ruin it for everyone, why don't ya?

graphicguy · December 2018

qbrozen said:
yup. I would never have thought infotainment would be so important, but here we are.

Wound up with the grey over black with more options that I care to have, such as BLIS. I was obviously impressed with how it drove. I think with better tires, it would probably hang right there with the Alfa. Gave the salesguy some laughs, especially the little drifting action through the highway onramp (hence my tires remark).

Still working on getting carplay on there. Have to update my phone, register with bmw, etc.

And I've accepted Vroom's offer on the Alfa. Hopefully that goes as smoothly as Carvana did on the LR.

The deal? Well, not as aggressive as I wanted, but still strong. About $25 less than my Alfa with just first month up front. I did take 10k miles rather than 12k, though. That aligns better with what I've been doing lately.

Finance guy gave me a heck of a hard time. I was more than willing to shake hands and part ways because he was "losing money," but apparently not losing enough that he couldn't come down even more. I even tried a cheaper vehicle, but after playing with the infotainment that lacked nav, I decided I just couldn't do it. Finance did not want to let me go. After he realized I was "all in" myself, he made a last ditch "even if I drop another $1k, I'm still $7 over your number." To which I said "would you do that deal?" He said he'd make it work, and we shook hands. I started off wanting 22.5% off, they said they couldn't do better than 18.5, and we landed on 20.925% off.

Have yet to face the wife. haha.

Now that’s true to the CCBA tradition. Make offer, Buy or walk.

Big congrats. I’d be curious what the BMW dealer does with the Alfa....put it on the lot to thumb their noses at the competition? Or, send it away not to compete with their own brand?

qbrozen · December 2018

OH, and since I was a repeat customer, he offered up free stuff from the store. Got a travel mug and backpack.

I'll snap some pics when I go outside to install carplay.

qbrozen · December 2018

graphicguy said:

Big congrats. I’d be curious what the BMW dealer does with the Alfa....put it on the lot to thumb their noses at the competition? Or, send it away not to compete with their own brand?

The Alfa is going to Vroom.

breld · December 2018

Congrats Q!

28firefighter · December 2018

qbrozen said:

Oh, and the salesman asked that I not share the details because it will NOT be repeated. Apparently, some jackass on leasehacker actually called after my X2 deal and said "I want a BETTER deal than you gave him." Oy vey. Just ruin it for everyone, why don't ya?

Sounds about right

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