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Re: Why you should save instead of spend!
Old 05-10-2006, 02:10 PM   #21
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Re: Why you should save instead of spend!

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Originally Posted by LOL!
One of those Lexi is mine and it cost me less than your new car (and less than most of the other cars in the parking lot). I bought mine used and I also paid cash.

I enjoy the quietness, the smooth ride, the impeccable service, the safety features of my car. I know you will enjoy the features of your car as well. Have fun with the new car smell!
Nothing wrong at all with a well priced, quality, used vehicle (or is that pre-owned ).
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Re: Why you should save instead of spend!
Old 05-10-2006, 02:22 PM   #22
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Re: Why you should save instead of spend!

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Originally Posted by cj
Yeah baby! *Count me in with a 1994 Accord, 135,000 miles. *Bought it brand new. *It probably has another 12 years, 135K miles in it. *Gets 30 mpg in my normal driving. *On long trips it gets 36-37 mpg. *Paid cash for it in 1994. *What's a car payment??

I'm with you, SolidA!

CJ
Yeah, I own the Subie free and clear and it is a good car, but I am pounding the crap out of it every day on my lengthy commute. *No complaints thus far in 60k miles over 3 years, but I am doing 30k a year now.

Incidentally, I just had the 60k tune-up done, and it was amazing how much of a difference it made. *Runs smoother, gets better gas mileage, slightly better acceleration, etc.
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Re: Why you should save instead of spend!
Old 05-10-2006, 02:29 PM   #23
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Re: Why you should save instead of spend!

Brewer, your post reminds me I wanted to start a thread on that subject, hold on...
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Re: Why you should save instead of spend!
Old 05-10-2006, 02:32 PM   #24
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Re: Why you should save instead of spend!

Cars used to depreciate a lot in the first 3-4 years because after that time they really started falling apart. *These days though good cars are much more reliable and don't really start falling apart until 10-15 years.

For japanese cars, I no longer see much value in buying a 2-3 year old used car over buying new. *The price of the used car is so close to the new car that the new car often makes sense because you eliminate the possibility of getting a poorly treated vehicle.

I think saving money these days comes down to buying less luxury or buying a used car 4-5 years old.
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Re: Why you should save instead of spend!
Old 05-10-2006, 03:01 PM   #25
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Re: Why you should save instead of spend!

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I no longer see much value in buying a 2-3 year old used car over buying new.* The price of the used car is so close to the new car that the new car often makes sense because you eliminate the possibility of getting a poorly treated vehicle
I agree ... seems that everyone is asking for absolutely top dollar for used car ... so that new seems the better deal
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Re: Why you should save instead of spend!
Old 05-10-2006, 03:45 PM   #26
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Re: Why you should save instead of spend!

Except if you're in the market for a luxury car. A Porche Carrera can be found for 30-40k below new price with only 20k miles on it. Obviously, we've left the world of LBYM far behind at that point....
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Re: Why you should save instead of spend!
Old 05-10-2006, 03:56 PM   #27
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Re: Why you should save instead of spend!

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Cars used to depreciate a lot in the first 3-4 years because after that time they really started falling apart. These days though good cars are much more reliable and don't really start falling apart until 10-15 years.

For japanese cars, I no longer see much value in buying a 2-3 year old used car over buying new. The price of the used car is so close to the new car that the new car often makes sense because you eliminate the possibility of getting a poorly treated vehicle.

I think saving money these days comes down to buying less luxury or buying a used car 4-5 years old.
Thanks for the explanation. I have been thinking about this one for awhile. I have been taught in my family to buy new and keep it until it no longer is worth repairing (run into the ground). Seems like with new safety features and u.s. car companies hurting for business, new might be the way to go.
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Re: Why you should save instead of spend!
Old 05-10-2006, 03:58 PM   #28
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Re: Why you should save instead of spend!

Porsche Carrera... Isn't she a porn star?
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Re: Why you should save instead of spend!
Old 05-10-2006, 03:58 PM   #29
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Re: Why you should save instead of spend!

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Originally Posted by d
I agree ... seems that everyone is asking for absolutely top dollar for used car ... so that new seems the better deal
I've noticed that trend as well. *Why would I want to pay someone for a car with 30k miles on it when a brand new car will only cost me another $2k more? *They've used up 2 of the 3 years of warranty, probably driven the car rougher than I would, failed to change the oil on time, failed to get regular maintenance done (e.g., tire rotation, alignments, etc...) and just overall abused something that cost them over $20k brand new. *I don't know about you, but if I spend $20k on something, you bet I'd take care of it!
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Re: Why you should save instead of spend!
Old 05-10-2006, 04:07 PM   #30
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Re: Why you should save instead of spend!

I drive a standard Honda. When we bought it in 1999 new, I shopped around to several dealers, both Toyota and Honda and sat back and waited for a good deal. I had no trade in (gave 1988 Honda to son graduating from college) and was going to pay cash. I don't think I could have gotten a used car cheaper than the deal I made. Since then, DH is nuts about oil changes etc. He does as much maintenance as possible, but we also bring to dealer on the recommended miles until the warranty runs out.

Some of my coworkers ask me when I am going to get a new car ( I probably have the cheapest valued car in the parking lot.) Wait till I drive away for good in a few weeks. I don't think they will get the connection between no car loans and one of the reasons for being able to retire early.
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Re: Why you should save instead of spend!
Old 05-10-2006, 04:10 PM   #31
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Re: Why you should save instead of spend!

Drove my '92 Chev PU for eight years, about 115k mi. Have had my '00 Chev PU for six years, currently at 64k mi. Intend to drive it another few years, then buy a gas miser for everyday driving, but keep the PU for, well, a PU...
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Re: Why you should save instead of spend!
Old 05-10-2006, 07:38 PM   #32
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Re: Why you should save instead of spend!

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Originally Posted by CybrMike
OR you could have leased a BMW, been out only $500 cash for first months payment, then you would have an extra $19K in your account + whatever three weeks growth would have been. BMW's lease programs are running at about 2.4% interest right now. Should be able to beat that in a MM account.

Ummm...lease bad...buy good...
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Re: Why you should save instead of spend!
Old 05-11-2006, 10:37 PM   #33
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Re: Why you should save instead of spend!

Quote:
Originally Posted by brewer12345

Incidentally, I just had the 60k tune-up done, and it was amazing how much of a difference it made. *Runs smoother, gets better gas mileage, slightly better acceleration, etc.
What, you waited too long to get the tune up and were therefore burning more gas than you could have been?* I guess, by your own definition, you were just being an unAmerican SOB eh?* hypocrit
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Re: Why you should save instead of spend!
Old 05-12-2006, 01:07 AM   #34
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Re: Why you should save instead of spend!

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Originally Posted by SolidA
Love my PAID FOR A LONG TIME AGO IN CASH 1996 Honda Accord (Purchased in 2000 with more than 100,000 miles on it)with 200,000+ miles on it now.* It'sa CHAMP and runs like a top with good gas mileage.* My son had a BMW that drove him to the poor house with maintenance.* He told me next time he'll listen to his mom.* There has to be a first time for everything!!!!!*
I've also got a 96 Honda Accord. Has 87,000 miles on it and not a problem. Bought it used in 98 with 11,000 miles on it for about $13,000. Its still worth about $6500. I will keep it till it drops which may be a while.

Also had a 94 Accord and that went up to 325,000 miles without any major repairs. Then my sister totaled it. Who knows how much more we could have sucked out of it?

Just bought a Honda Pilot and absolutely love it. It will be on the road a long time.

I don't think I'll get off the Honda kick ever or at least until someone proves me wrong that it isn't one of the best values on the road.

I should've been a Honda salesmen. Grandpa always said I could sell ice cubes to eskimo's. 8) But seriously these figures speak for themselves and I have never heard a bad Honda story. If you want to keep a vehicle forever, buy a Honda.
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Re: Why you should save instead of spend!
Old 05-12-2006, 04:02 AM   #35
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Re: Why you should save instead of spend!

im taking a lease next week on a bmwx3....great deal on it,actually cheaper to lease it for 4 yrs than to try to buy it and sell it after 4 years or so...i like new cars every 3-4 years so leasing is usually cheaper for me....of course if you keep the car long term nothing beats buying it but at this point we are still working and enjoy new cars as well as the reliability factor ....the thing that makes me crack up is those that argue that leasing is bad and then they go and negotiate the best deal they can on a car,then after 3-4 years when the vehicles most reliable days are usually behind it they trade the car in to the dealer at the low wholesale price anyway...yeah big savings there ha ha ha
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Re: Why you should save instead of spend!
Old 05-12-2006, 04:27 AM   #36
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Re: Why you should save instead of spend!

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Originally Posted by Jay_Gatsby
I've noticed that trend as well. *Why would I want to pay someone for a car with 30k miles on it when a brand new car will only cost me another $2k more? *They've used up 2 of the 3 years of warranty, probably driven the car rougher than I would, failed to change the oil on time, failed to get regular maintenance done (e.g., tire rotation, alignments, etc...) and just overall abused something that cost them over $20k brand new. *I don't know about you, but if I spend $20k on something, you bet I'd take care of it!

i agree ,the problem is car prices have not been going up much at all killing resale value on alot of vehicles...my nissan xterra which is a 2002 is worth far less today than the lease figured residual value at because the new ones are only up about 2,000* more.in fact if i bought the truck instead of leased itand was trying to trade it back in id gotten killed..i could have bought my truck out at the lease end for 13,500 which i was going to do..then i figured 1500 for the warranty,,,new tires,,60,000 mile service,,a new battary,brakes , sales tax on everything ,a timing belt change in another 15,000 miles...........needless to say back it goes and for 349.00 a month im taking a new bmw x3 instead......
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Re: Why you should save instead of spend!
Old 05-12-2006, 05:12 AM   #37
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Re: Why you should save instead of spend!

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Originally Posted by mathjak107
....the thing that makes me crack up is those that argue that leasing is bad and then they go and negotiate the best deal they can on a car,then after 3-4 years when the vehicles most reliable days are usually behind it they trade the car in to the dealer at the low wholesale price anyway...yeah big savings there* *ha ha ha
In most cases the buyer would be ahead in that situation. The complicated way lease prices are calculated allows the dealer to take advantage of people without them even noticing. More importantly the lease makes negotiating very dificult or impossible. When you buy you negotiate one number, the bottom line (well maybe an interest rate too if you finance). When you lease you are typically stuck with the residuals, buyback prices, and finance charges the dealer quotes. Do you know what interest rate you are paying in your x3 lease agreement without pulling out the agreement?
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Re: Why you should save instead of spend!
Old 05-12-2006, 06:49 AM   #38
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Re: Why you should save instead of spend!

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Originally Posted by getoutearly
What, you waited too long to get the tune up and were therefore burning more gas than you could have been?* I guess, by your own definition, you were just being an unAmerican SOB eh?* hypocrit
Actually, I had the 60k servivce done a little early, since it was more convenient that way and the car was not running quite as well as I thought it should. But thanks for your concern.
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Re: Why you should save instead of spend!
Old 05-12-2006, 05:26 PM   #39
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Re: Why you should save instead of spend!

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Originally Posted by free4now
In most cases the buyer would be ahead in that situation.* The complicated way lease prices are calculated allows the dealer to take advantage of people without them even noticing.* *More importantly the lease makes negotiating very dificult or impossible.* When you buy you negotiate one number, the bottom line (well maybe an interest rate too if you finance).* When you lease you are typically stuck with the residuals, buyback prices, and finance charges the dealer quotes.* *Do you know what interest rate you are paying in your x3 lease agreement without pulling out the agreement?

probley wouldnt matter what the rate is ,its the overall lease payment that counts..but i bet take the cost of a lease for 4 years,then take the cost of buying and trading in the vehicle at the end of 4 years at the wholesale price....i bet you will be very surprised which cost less overall
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Re: Why you should save instead of spend!
Old 05-12-2006, 05:52 PM   #40
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Re: Why you should save instead of spend!

the only thing that bugs me about a 4-year lease is if it is on a car with a 3-year warranty. if so, i'd have to factor in the cost of an extended warranty, or take the car for 3 years at a higher rate. imagine replacing the engine on a lease. ouch.
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