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U.S. Auto Market News and Reviews

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Comments

  • stickguystickguy Posts: 33,758
    If I had a business I would too. With the new deductions rules, it was practically like doing an EZ form.

    2019 Acura TLX A-spec 4 cyl. (mine), and 2013 Acura RDX AWD (wife's)

  • fushigifushigi Chicago suburbsPosts: 1,459
    Pretty sure HELOC interest is still deductible BUT it has to be tied to actual expenditures on the home. You can't deduct the interest if you use it for a vacation or to pay off other debt.

    We were screwed by the new tax law as it caps property tax + state income tax at $10K .. That lost me around $6-8K in deductions. We owe about $2K more than we would in an average year. Which also triggers an underpayment penalty. :@
    2017 Infiniti QX60 (me), 2012 Hyundai Elantra (wife)
  • stickguystickguy Posts: 33,758
    I feel your pain brother. I also lost my last college kid deduction, so double whammy.

    2019 Acura TLX A-spec 4 cyl. (mine), and 2013 Acura RDX AWD (wife's)

  • kyfdxkyfdx Posts: 131,011
    If you take the $24K standard deduction, HELOC deductibility won’t matter

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • berriberri Posts: 10,166
    They did broaden the underpayment penalty to not apply if you withheld 85% instead of 90% for 2018 taxes only. The penalty also does not apply if you withheld your previous year tax liability amount. The whole tax thing just seemed rushed and not thought out to me
  • stickguystickguy Posts: 33,758
    I withheld more than last year, and was just about break even in 2017, so no penalty should apply based on that. The wife and I will both be reviewing our withholding elections tonight, and adjusting accordingly. I'll probably end up overcompensating and get a big refund, but at least I won't have to see the software tell me "you ain't going on a late winter vacation to someplace warm this year, buddy".

    2019 Acura TLX A-spec 4 cyl. (mine), and 2013 Acura RDX AWD (wife's)

  • suydamsuydam Posts: 4,143
    I’m pretty concerned about our taxes this year too. I think a lot of middle class folks are in for unpleasant surprises.
    '14 Buick Encore Convenience
    '17 Chevy Volt Premiere
  • stickguystickguy Posts: 33,758
    especially if you had high itemized deductions in the past.

    though as much as I complain about getting whapped with a tax bill, it is still way less than the 2 tuition bills I did not have to pay in 2018! So still ahead of the game.

    2019 Acura TLX A-spec 4 cyl. (mine), and 2013 Acura RDX AWD (wife's)

  • kyfdxkyfdx Posts: 131,011
    For most people, the total tax bill will have come down. But, that doesn't mean you will get a big refund. Those that no longer itemize (most of us) will likely have a smaller refund. If you count on that as forced savings, then you were doing it wrong. ;)

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • berriberri Posts: 10,166
    The deficit is already ballooning from it like in the past. Since the 80's these things tend to blow up down the road. Personally, I think the tax changes were drawn up to penalize people who live in blue states, while rewarding those in red states. That kind of political stuff usually doesn't work out or last long.
  • stickguystickguy Posts: 33,758
    oh, it definitely was. And if they did not do it intentionally, that absolutely was the end result.

    2019 Acura TLX A-spec 4 cyl. (mine), and 2013 Acura RDX AWD (wife's)

  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    The elephant in the room is that, adjusted for inflation, average workers' pay has not increased in 4 decades.
  • fintailfintail Posts: 48,254
    edited February 17
    Even worse than that, those inflation figures don't seem to include massive cost of living inputs like healthcare and education, and in many areas, housing, all of which are tremendously more expensive now than then. 40 years ago, normal working people could afford houses here within reasonable commutes at reasonable prices. Not so much anymore, where in my area anyway, houses that could have been bought for 50K then can be 1MM or more now. But hey, TVs are cheaper, so it must be OK.
  • fintailfintail Posts: 48,254
    I was thinking of something, the most traditional American car is still the MB E-class. Available as a sedan, (hardtop!) coupe, convertible, wagon. RWD basis. 4 different powertrains from a 4 to a normal V6 to a hot I6 to a snarling V8. Enormous custom order possibilities if one has a car built. Only caveat is that they aren't the most affordable.
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    Well maybe the new A Class will become the "American sedan" that more people can afford. Obviously Ford and GM are ditching sedans, leaving only FCA to soldier on with the 300 and the Charger.
  • fintailfintail Posts: 48,254
    I meant "American" in terms of layout and choices compared to old traditional American cars. The A will indeed be more affordable, but is still a FWD based small 4 cyl, not the most American configuration.

    IIRC, 75% of E sales are sedans.
  • uplanderguyuplanderguy Kent, OHPosts: 11,304
    edited April 27
    In RWD's, only the Charger and 300 will remain from domestic nameplates, that's right.
  • andres3andres3 Southern CAPosts: 11,028
    So, with the Performance pack level two a Mustang GT MSRP is $49K!!!!! :open_mouth:
    So is there like a $10K incentive, or am I missing something?
    '16 Audi TTS quattro 2.0T, '15 Audi A4 quattro 2.0T, '19 VW Tiguan SEL 4-Motion AWD
  • circlewcirclew Posts: 8,664
    Korean brands top J.D. Power's Initial Quality auto rankings


    Ford topped all U.S. brands at No. 4, with Lincoln at 5th, Chevrolet at 6th, Dodge at 8th, Buick at 11th, GMC at 12th, Cadillac at 17th, Jeep at 18th, Ram at 21st and Chrysler at 25th.

    https://www.detroitnews.com/story/business/autos/2019/06/19/korean-brands-top-j-d-powers-initial-quality-auto-rankings/1488480001/
  • laurasdadalaurasdada Posts: 3,457
    Alas, my beloved Jaguar has fallen down a well...
    But, my two cars/8 years of Jag ownership has been reliable and fun!

    '13 Jaguar XF, possibly my favorite of all the cars I've owned. But, my '09 Jag XK was a beauty, as was my '05 Acura TL, '88 Acura Integra, '84 Mitsubishi Mirage Turbo & '78 VW Scirocco (my first!). And, of course, the '92 Nissan Sentra SE-R and '95 Saab 900s I bought for the ex... Ok, I like a lot of the cars in my life.

  • circlewcirclew Posts: 8,664
    Ford, GM don’t make the most 'American-made’ car. Here's who does.

    https://www.foxbusiness.com/industrials/ford-gm-dont-make-the-most-american-made-car-heres-who-does

    Of the top 15, nine are manufactured by Japanese firms Honda or Toyota. Ford’s F-150 pickup is the only vehicle from the Dearborn-based company to make it on the list:

    ​​​​​​​​​​​​​​​​​​​​​1. Jeep Cherokee
    2. Honda Odyssey
    3. Honda Ridgeline
    4. Honda Passport
    5. Chevrolet Corvette
    6. Acura MDX
    7. Honda Pilot
    8. Chevrolet Colorado
    9. GMC Canyon
    10. Acura RDX
    11. Chevrolet Camaro
    12. Toyota Avalon
    13. Ford F-150
    14. Honda Accord
    15. Toyota Tundra
  • tlongtlong CaliforniaPosts: 5,192
    Yes, these companies (and most other non-automotive large companies as well) are pretty much globalized at this point. How much is made locally isn't hugely correlated to where HQ is located.
  • berriberri Posts: 10,166
    On top of that, it is quite likely that your 401K has a global stock presence rather than strictly domestic.
  • circlewcirclew Posts: 8,664
    Cadillac News - No Surprise.

    DETROIT — Few American brand names have ever achieved the stature of Cadillac, which was once so closely identified with excellence and status that it became shorthand for anything that was top of the line. And few brands have fallen as far.

    Cadillac’s Last Stand? Storied Brand Aims (Again) for Revival

    https://www.nytimes.com/2019/08/27/business/cadillac-brand.html?action=click&module=News&pgtype=Homepage
  • laurasdadalaurasdada Posts: 3,457
    Arrogance and bean counters (no offense to accountants intended); two factors sinking Cadillac and GM in general. Thanks, Roger Smith and the brain surgeons that priced Caddy's, e.g. Allante, XLR and ELR.

    '13 Jaguar XF, possibly my favorite of all the cars I've owned. But, my '09 Jag XK was a beauty, as was my '05 Acura TL, '88 Acura Integra, '84 Mitsubishi Mirage Turbo & '78 VW Scirocco (my first!). And, of course, the '92 Nissan Sentra SE-R and '95 Saab 900s I bought for the ex... Ok, I like a lot of the cars in my life.

  • berriberri Posts: 10,166
    I think Detroit in general has a pricing problem, which perhaps correlates to a cost problem vice many competitors. I also think trying to mimic Germany is not all that wise for Cadillac. If you want European you will probably buy European unless there is a compelling bargain to be found.
  • fintailfintail Posts: 48,254
    I don't think one trick pony DeNysschen's naming strategy is helping either, nor did his now-reversed (I think) HQ move help anything. I shudder at the thought of the golden parachute he received for doing nothing.

    I also think Caddy needs to be unabashedly American, not a German wannabe. Maybe dealers could use work too, my friend who shopped a CT6 last year was really put off when it came time to talk.
  • circlewcirclew Posts: 8,664
    Can the strike continue the vicious circle that GM always seems to suffer from historically? At least they make money in China.
  • circlewcirclew Posts: 8,664
    And there is Ford...

    https://www.thetruthaboutcars.com/2019/09/as-ford-grapples-with-explorer-and-aviator-issues-one-reader-doesnt-like-what-he-discovered/

    Will they strike at Ford? What about the corruption probe at UAW?

    https://www.cnbc.com/2019/09/13/uaw-corruption-probe-details-lavish-use-of-union-funds-for-alcohol-cigars-steak-dinners.html

    I guess it's nothing new as VW and Nissan are no better. I chose Mazda the last 10 years.
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