The Car Shopping Thread

[Quickstrike]

Leasing makes a lot of sense for most but until this last year when I retired and we moved to where my wife is only 2 miles from work, we have both always driven over 25,000 miles per year. Leasing has not been a option for us with those kind of miles. I’ll likely keep driving our 2015 Tesla for 6-10 more years if it stays low maintenance. So far we have spent only $270 on all repairs & maintenance in 4 years 86,000 miles and have saved $10,000 in fuel costs. I really love the combination of high performance with almost zero maintenance and getting the equivalent of 120 mpg. I also don’t want to go back to having to stop at gas stations to refuel. Every morning when I hop in the car I have a full “tank”.

It can also depend on how often you replace a vehicle. A lot of people trade every few years and leasing makes perfect sense for them even if they put on a lot of miles. The depreciation on a 3 year old car with 90k miles costs more than leasing and paying the mileage overages. We see quite a few do high mileage leases and pay the mileage penalty upfront at a savings.

 

[OGputtnfool]

Mine too! :rockon: I can't wait to see what the 21' model year brings. Given what Ram has done with their exterior styling and infotainment system I'm sure Ford is going to make a big splash in 2021. Just in time for me to get myself a brand new truck!

My next vehicle will likely be an SUV. Thinking the new Bronco might be it, but waiting for the release.

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[Nicegy525]

What are you referring to? The Ford will do better on power mileage, resale, etc.

I’ve seen too many issues with the ford ecoboost engines. I work for a wholesale auto auction and manage the mechanic shop.

Granted I typically see the worst of vehicles at an auction but my shop is full of ecoboost engines and dodge 5.7L hemi’s


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[-CJ-]

I can't see myself ever financing a car again. If you can't afford to pay cash and afford the repairs that come with it then you should lease. Leasing is the way the car market is going and it makes sense with technology, maintenance, and repair costs.

I slightly disagree with the financing, pay cash thing. There are 0% and 0.9% deals at abundance out there, I can get a great return with my 30-40k over those 3-5 years. Even without factoring inflation a basic 5 year CD is sitting at a 3% rate, so no reason to pay outright liquid cash.

I agree leasing seems to be the most logical on new cars as the price creep has gone from creep to leaps. The same car I bought 11 1/2 years ago, if I would by new today the price is way more than one would think should be, it has increased by 5% each year since. Yes I get some will chime in and say "well that because it has added many more features and refinements". A 4 banger turbo is not more refined than a naturally aspirated 6, and the 6 is not even an option anymore. and yes with technology added it may cost more but with technology comes better automation in the manufacturing process which should offset the increased cost.

 

[M2Giles]

I slightly disagree with the financing, pay cash thing. There are 0% and 0.9% deals at abundance out there, I can get a great return with my 30-40k over those 3-5 years. Even without factoring inflation a basic 5 year CD is sitting at a 3% rate, so no reason to pay outright liquid cash.

I agree leasing seems to be the most logical on new cars as the price creep has gone from creep to leaps. The same car I bought 11 1/2 years ago, if I would by new today the price is way more than one would think should be, it has increased by 5% each year since. Yes I get some will chime in and say "well that because it has added many more features and refinements". A 4 banger turbo is not more refined than a naturally aspirated 6, and the 6 is not even an option anymore. and yes with technology added it may cost more but with technology comes better automation in the manufacturing process which should offset the increased cost.

Agreed on the financing portion. However they are not always available especially if you start wading into the used market. My wife and I both replaced our vehicles in December, but since we were both buying used (and for her replacing her truck that got totalled in a crash) we paid cash for both.

 

[BigDill]

One things that is often overlooked with respect to the cash vs finance purchase consideration is the threat of loss or theft. If you finance a vehicle, you can obtain GAP insurance for typically a reasonable cost, wherein if you pay cash, you assume that risk yourself. While this may sound minimal, as car prices continue to increase, it is becoming more and more substantial. When a car is a total loss, the insurance pays the actual cash value at the time of loss. That is not the replacement value. Thus, there is usually a financial gap that is created between the two.

If I can get free or near free financing, I always do, even if I have the cash to pay outright. I will then pay off the vehicle after year 3 or so, when the ACV of the vehicle is closer to replacement cost.

 

[Space Bandito]

I slightly disagree with the financing, pay cash thing. There are 0% and 0.9% deals at abundance out there, I can get a great return with my 30-40k over those 3-5 years. Even without factoring inflation a basic 5 year CD is sitting at a 3% rate, so no reason to pay outright liquid cash.

I agree leasing seems to be the most logical on new cars as the price creep has gone from creep to leaps. The same car I bought 11 1/2 years ago, if I would by new today the price is way more than one would think should be, it has increased by 5% each year since. Yes I get some will chime in and say "well that because it has added many more features and refinements". A 4 banger turbo is not more refined than a naturally aspirated 6, and the 6 is not even an option anymore. and yes with technology added it may cost more but with technology comes better automation in the manufacturing process which should offset the increased cost.

Your point is spot on. I'm so tired of the justification of increases in car pricing, this is the future dammit! We're supposed to have better technology for LESS money due to lower development and manufacturing costs. Now have fewer cylinders with turbos that require more maintenance, at higher service costs, and burn less fuel whilst paying more for it than we did when we burned more.

 

[Quickstrike]

The problem I see with the low interest financing is you lose most if not all of the rebates. You're better off taking most of the rebates and seeing if you can get in the 3-4% range with a different bank.

 

[BigDill]

The problem I see with the low interest financing is you lose most if not all of the rebates. You're better off taking most of the rebates and seeing if you can get in the 3-4% range with a different bank.

Often times you are correct. It’s so difficult to make the decision in the abstract because incentives and rebates carry so much by manufacturer and model. Some rebates will stack and others not. Some finance deals will stack and others not. It’s a challenging game, for sure.

 

[-CJ-]

Agreed on the financing portion. However they are not always available especially if you start wading into the used market. My wife and I both replaced our vehicles in December, but since we were both buying used (and for her replacing her truck that got totalled in a crash) we paid cash for both.

I was more speaking to new cars on the financing, as I think the lowest on used cars without using a credit union is 5%-6%. Which like you said, is most of the time better if done cash. How was it dealing with the insurance on a totaled car?

One things that is often overlooked with respect to the cash vs finance purchase consideration is the threat of loss or theft.

I have never thought about that, good point.

Your point is spot on. I'm so tired of the justification of increases in car pricing, this is the future dammit! We're supposed to have better technology for LESS money due to lower development and manufacturing costs. Now have fewer cylinders with turbos that require more maintenance, at higher service costs, and burn less fuel whilst paying more for it than we did when we burned more.

Right on! And seriously its already the dang future why in the heck can't I find a car under $70 that has auto Up and DOWN on all 4 of my windows?????????

The problem I see with the low interest financing is you lose most if not all of the rebates. You're better off taking most of the rebates and seeing if you can get in the 3-4% range with a different bank.

If you are dealing with a good dealership, you can still loose out on the rebates but they can bring that amount back in on your trade-in or off msrp haggling while still getting the good interest rates.

 

[-CJ-]

Great, all this car talk I got the itch again. Golf won't solve it, raining all weekend. So I am going to go on a couple test drives tomorrow, Genesis G70 & Buick Regal GS anybody got opinions on those?

 

[M2Giles]

I was more speaking to new cars on the financing, as I think the lowest on used cars without using a credit union is 5%-6%. Which like you said, is most of the time better if done cash. How was it dealing with the insurance on a totaled car?

She was hit by an uninsured motorist. We needed a new car for her pretty quick so we dipped into some of our cash reserves. While I wouldn't of minded her getting a new truck she just wanted her old truck again so we got the same one with a bunch of miles on it.

After I think 6 weeks we actually got the check in the mail for the value of the truck spanning the winter holidays. To fully close out the claim took several months.

 

[M2Giles]

Great, all this car talk I got the itch again. Golf won't solve it, raining all weekend. So I am going to go on a couple test drives tomorrow, Genesis G70 & Buick Regal GS anybody got opinions on those?

Genesis g70 is an excellent vehicle. I'm driving a 2015 genesis.

 

[-CJ-]

After I think 6 weeks we actually got the check in the mail for the value of the truck spanning the winter holidays. To fully close out the claim took several months.

Do you feel the amount was acceptable, or undervalued?

Genesis g70 is an excellent vehicle. I'm driving a 2015 genesis.

Ended up planting flowers and digging up old landscaping instead. For the best as the itch went away

I almost bought the Hyundai Genesis, even worked out a deal with the salesman, but the final walk through before signing the papers I found out the back seats don't fold down so in all sense of the phrase "it was a deal breaker". Great car, amazing price, and crazy quiet.

 

[MPlefty]

I broke down and bought another Golf. Gosh I missed VW

 

[Golf Ghost]

I broke down and bought another Golf. Gosh I missed VW

Last one was a MK6?


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[MPlefty]

Last one was a MK6?


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Not sure about the mk thing, last one was a 2013, I will get my 2019 on Friday

 

[Golf Ghost]

Not sure about the mk thing, last one was a 2013, I will get my 2019 on Friday

Yeah that would be a 6 then. New one would be a MK 7.5 (updates to the 7 from 17 to 18).

Solid choice. New interior must feel like a major upgrade?


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[MPlefty]

Yeah that would be a 6 then. New one would be a MK 7.5 (updates to the 7 from 17 to 18).

Solid choice. New interior must feel like a major upgrade?


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Yeah I went with the highline with leather and all, it looks and feels great.

I had no complaints about the other two golf I had however

 

[Golf Ghost]

Yeah I went with the highline with leather and all, it looks and feels great.

I had no complaints about the other two golf I had however

Nice. Congrats on the purchase.


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[Just_Brad]

Have started looking for a gently used mini-van, probably a Caravan.

Exciting I know, but honestly, I have wanted a mini-van for the past 20 years lol.

 

[OGputtnfool]

Have started looking for a gently used mini-van, probably a Caravan.

Exciting I know, but honestly, I have wanted a mini-van for the past 20 years lol.

They're very functional if a bit emasculating.

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[pumbaa]

I will start looking soon. My car was tboned by a driver rushing home to get her phone back in November of last year, only 4 months after I got it. It hasn't felt right ever since and the dealer even though they did all the repair work swears the car is fine. Off to look at the midsize SUV, something comparable to the current Sorento I am driving.

 

[Thrillbilly Jim]

I will start looking soon. My car was tboned by a driver rushing home to get her phone back in November of last year, only 4 months after I got it. It hasn't felt right ever since and the dealer even though they did all the repair work swears the car is fine. Off to look at the midsize SUV, something comparable to the current Sorento I am driving.

Take a look at the Mazda CX-7 and CX-9. Very high rated at a lower price.

 

[ohnolan]

Take a look at the Mazda CX-7 and CX-9. Very high rated at a lower price.

They don't make the CX-7 anymore. Just the 5 and 9.

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