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cv91915

The Car Thread

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I have always been wary of ANY vehicle offered on eBay out of Florida...too many horror stories and this holds just as true for autos as it does planes.  It seems like it has been too easy for too long to wash salvaged titles in that State. 

 

Since we don't know CV's intent on the vehicle, the discussions of appreciation or depreciation are meaningless.  Some people buy toys with the intent of keeping them into perpetuity.  Not everyone is buying and looking to flip right away or use it as trade bait a few years down the road.  While there COULD be merit on maintenance costs, I would venture a guess that it is an issue that CV has already had with a local shop...they are not noted for going into a purchase of this nature without doing, err I mean being anal on the research...

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44 minutes ago, AccreditedPoster said:

Sounds like you are looking to lose thousands on a car, lol.

I would be looking to buy an older special car that is appreciating.. 

 

What do you think of this? https://www.ebay.com/itm/1994-928-GTS/183771142949?hash=item2ac99d1b25:g:em8AAOSwoX9csBPS

 

image_216258_img_3993.jpg

 

Would probably be cheaper than a 750 to maintain too, and you might make $10k on appreciation while you own it instead of loosing $20k

 

If you can't pay cash then wrap it into your home equity or something. It still might beat the interest. 

Thanks for the suggestion.

 

I can see why this would be appealing to some people, but I have zero desire to buy a car that's more than a few years old (no matter how good it was when it was new).

 

I'm okay with the depreciation and operating costs on the 750.  This is purely a consumption decision, and I plan to treat this purchase like any other expense (paid in full from liquid savings). 

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2 hours ago, cv91915 said:

Thanks for the suggestion.

 

I can see why this would be appealing to some people, but I have zero desire to buy a car that's more than a few years old (no matter how good it was when it was new).

 

I'm okay with the depreciation and operating costs on the 750.  This is purely a consumption decision, and I plan to treat this purchase like any other expense (paid in full from liquid savings). 

I would've thought you would do a short term loan and invest the money...unless of course you think your investment will earn less than ~4.4% return (3.5% grossed up for 20% LT cap gains tax impact).

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4 hours ago, centex said:

Florida...too many horror stories and this holds just as true for autos as it does planes.

I do see a lot of small aircraft being sold out of Florida - no way. With all that ocean water vapor in the air that's just asking for a major fuselage repair from corrosion.

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On 2/23/2019 at 7:42 AM, cv91915 said:

Porsche 911

 

  • Not sure which flavor, still researching;
  • Risk is oozing "mid-life crisis," but at least it's not a Corvette;
  • May make more sense to just get a sports car than a performance sedan, since we really don't need the extra room, and almost never have other passengers with us.

I am 100% sure I don't want a Porsche Cayenne or Macan, and most probably not a Cayman.

Here's something I learned watching Wheeler Dealers the other night - the late model 911's (code name Porsche 996 or 966?) have a fatal flaw where there's a sealed bearing in the middle of the engine that is prone to failure, and when it does fail it requires a motor teardown.

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2 hours ago, CTSoxFan said:

I would've thought you would do a short term loan and invest the money...unless of course you think your investment will earn less than ~4.4% return (3.5% grossed up for 20% LT cap gains tax impact).

We got a cheap car loan we didn't need when we bought the Lexus, and it drove me crazy owing money on a car.

 

It's not the most rational decision mathematically, but neither is accelerating our mortgage repayment -- and that's a lot more money at an even lower interest rate.

 

I'm sick of owing money.

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On 5/1/2019 at 5:50 PM, cv91915 said:

I'm sick of owing money.

I hear you. After this episode of household financial constraints, when I can any extra $$ is going into debt retirement and HSA.

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28 minutes ago, IndyPoolPlayer said:

The "E" in E-Class does stand for "Economy" in the MB world

forgot where I heard it but heard the Z in Lincoln MKZ stands for zero sales.

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17 minutes ago, hegemony said:

forgot where I heard it but heard the Z in Lincoln MKZ stands for zero sales.

Considering the MKZ is a Ford Fusion, that's not surprising. Ranks up there with the Lincoln Versailles (aka Ford Granada) or a Cadillac Cimarron (aka Chevy Cavalier).

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I'm fascinated by this lease hacker stuff, and don't really understand how it works.  If I was interested, I'd contact the broker who posted it via PM? (yes, I'm lazy tonight)

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34 minutes ago, Pam said:

I'm fascinated by this lease hacker stuff, and don't really understand how it works.  If I was interested, I'd contact the broker who posted it via PM? (yes, I'm lazy tonight)

Takes a bit of reading to get into the groove, but reading that forum is among my newer favorite ways to kill time while trying to fall asleep.

 

Right now I could lease a 2019 BMW 750i with a $103,000 MSRP for $749 + tax with about $2,200 due at signing.  7.5k miles per year / 36 months.  

 

I wasn't planing to get something brand new, but good lord.  That's almost free.

 

The 2020 7 series just landed in showrooms last month and the 2019s aren't moving, so I'm hoping for even more incentives in June.

 

Of course none of this should matter since I wasn't going to get another car until January...  but here we are.

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And then my rational side kicks in.

 

$2,200 upfront + (800 with tax * 36) = $31,000

 

for a car I'll drive maybe 6,000 miles in three years.  

 

Expressing this deal as "$5.17 per mile for three years" seems a lot less appealing.  

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Plus my the difference in insurance premiums between the 2010 Prius and a 2019 750i.  That's another $60/month.

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Anything you see on LeaseHacker can be obtained on your own, and likely beaten, if you are willing to put in the time and effort.  All they are doing is showing pre-negotiated deals with the incentives currently available to any consumer.  If you don't want to expend the time, or are uncomfortable in car purchases negotiations, this might work for you.  In my opinion, by using them, all you're doing is adding an extra layer of cost.

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13 minutes ago, CTSoxFan said:

Anything you see on LeaseHacker can be obtained on your own, and likely beaten, if you are willing to put in the time and effort.  All they are doing is showing pre-negotiated deals with the incentives currently available to any consumer.  If you don't want to expend the time, or are uncomfortable in car purchases negotiations, this might work for you.  In my opinion, by using them, all you're doing is adding an extra layer of cost.

Leasehackr is just one of many sources of online pricing/deal information.  It's just a forum; there is no extra layer of cost.  

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3 hours ago, cv91915 said:

Leasehackr is just one of many sources of online pricing/deal information.  It's just a forum; there is no extra layer of cost.  

I was more responding to Pam's question about contacting a broker than the site in general.  If there is a lease broker, he has to make money somehow, either as a fee to the buyer, or kickback from the dealer.  If it is the latter, then that is $$ that the dealer doesn't take off the car.  Either way the customer pays for the convenience in the end.  

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2 hours ago, CTSoxFan said:

I was more responding to Pam's question about contacting a broker than the site in general.  If there is a lease broker, he has to make money somehow, either as a fee to the buyer, or kickback from the dealer.  If it is the latter, then that is $$ that the dealer doesn't take off the car.  Either way the customer pays for the convenience in the end.  

For the average consumer on a car lease, an experienced broker's fee will likely be a lot less expensive than the consumer's ignorance.

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13 minutes ago, cv91915 said:
For the average consumer on a car lease, an experienced broker's fee will likely be a lot less expensive than the consumer's ignorance.

Agree totally.  And those are the people that I am thankful for, as the profits dealerships make off them (and other less than optimally informed buyers) allow me to negotiate great deals for myself.  Like most things, those who have the most knowledge generally end up with the best results.

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"Choose any car sold in the US.  It's our gift to you."

 

I'm stuck with the Prius today, and I just relived this proposition from TAD's parents over and over on the way to the grocery store and back.

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When did they give you that proposition?  Was that for your wedding gift or something?  Did you not take them up on it, now you're kicking yourself?  We need details, man!

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16 minutes ago, CTSoxFan said:

When did they give you that proposition?  Was that for your wedding gift or something?  Did you not take them up on it, now you're kicking yourself?  We need details, man!

No, that's how he ended up with this Prius.

 

A car was his gift for finishing his Ph.D.  

 

Any car, regardless of price.  

 

So why not a Prius 2?

 

 

 

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