looking for a new car

[MGX]

If i had croaked as a teenager, i would roll over in my grave to hear i would someday think of a car as a tool - gearhead to minivan 'taxi'driver - it happens. . .

I'm in the same boat. In my teen years I was so passionate about cars I completed a vo tech course and got ASE certified. I worked 70 hours a week just because I loved cars and the money was good. The money spent fixing up my old hoopty with hot rod parts could have bought one very nice car that didn't need any hot rod parts!

Today however cars are mostly a money pit IMO.

Personally I'd buy whatever I could pay cash for, financing a depreciating item makes one a loser twice. You lose in the money lost in the value for the car and the second loss comes in the interest you pay to make the bank some money.

Isn't all this talk anti-American?

 

[EM_PS]

I got a buddy from college who owned a '67 Mustang back then (late 80's) and still does. It had the venerable 200ci straight six. Now, it has some kind of prepped 351 and he has it set up primarily just for drag / bracket racing. Last runs i heard he was pulling was low 14's at just over 100mph (he blames it on wheelspin). He wants to put 4.11's in place of the 3.50's he's running now, and he says he's a "torque converter away" from running in the mid 12's. As good as it was to hear 'Ol Rusty the Stang' was still pounding the asphalt, i had to burst his bubble a little and tell him a V6 Mustang today will pull in 14's @ 100mph. I'm seriously torn between the nostalgia of that old Mustang prowling phat w/ a prepped V8, and the fact that today's V6 bone-stock Mustang could give him some serious competition.

 

[MA_PE]

I got a buddy from college who owned a '67 Mustang back then (late 80's) and still does. It had the venerable 200ci straight six. Now, it has some kind of prepped 351 and he has it set up primarily just for drag / bracket racing. Last runs i heard he was pulling was low 14's at just over 100mph (he blames it on wheelspin). He wants to put 4.11's in place of the 3.50's he's running now, and he says he's a "torque converter away" from running in the mid 12's. As good as it was to hear 'Ol Rusty the Stang' was still pounding the asphalt, i had to burst his bubble a little and tell him a V6 Mustang today will pull in 14's @ 100mph. I'm seriously torn between the nostalgia of that old Mustang prowling phat w/ a prepped V8, and the fact that today's V6 bone-stock Mustang could give him some serious competition.

All true, but with us members of the geriatric set, that '67 has a mega-cool factor over the new stuff.

 

[Flyer_PE]

^What he said. ld-025:

I still regret selling my old '71 Z28.

 

[EM_PS]

Yeah, nothing like a non-smog equipped V8 loud&proud out the tailpipes! - Assigned homework (esp for the young'uns) watch this:

http://www.youtube.com/watch?v=Ohq5xIOrNFQ

 

[Capt Worley PE]

I had a few ground pounders in my day, but, yeah, the new stuff can outperform them in every area except for maybe the 'cool factor.' I go with the more modern stuff now. You don't have to keep futzing with it and there is something to be said for not drawing attention to yourself.

 

[Flyer_PE]

^ I guess the difference for me is that I wouldn't be happy with the old Z as a daily driver. Futzing with an old car is a blast so long as you don't have to have it running Monday morning in order to get to work.

 

[Flyer_PE]

Yeah, nothing like a non-smog equipped V8 loud&proud out the tailpipes! - Assigned homework (esp for the young'uns) watch this:http://www.youtube.com/watch?v=Ohq5xIOrNFQ

There's a reason why that movie has always been ranked pretty high on the "Best Car Chase Ever" lists.

 

[squishles10]

okay, before everyone thinks im a complete financial idiot, heres the deal. we could pay off the loan on mine. we could pay cash on a new one. we could do both. so its not like we're going to run out of money if we take out these loans. we jsut dont want to run down the savings account by $40k when im unemployed. me being unemployed isnt that big of a deal- remember we live in texas and its not that expensive to live here. we live off of my husbands paycheck each month fine without me making anything, and that assumes i dont get unemployment, which i do. we have to get a bigger car, or we have to rent one to get stuff home. we have two TINY cars. we can wait until one comes along, but mine is 7 years old and is incredibly expensive to repair. ive spent over $2500 in the last month to fix it. its only worth $10,000. i do not owe that much on it. the next car we buy will not be an expensive to repair german car and we will be keeping it longer, and as soon as i am employed probably just lump sum pay it off.

 

[MA_PE]

squish:

you're in TX and you need a bigger car. There can be only one solution-----> GMC/Chevy Suburban. You want fancy? Get one in the Denali trim.

done.

 

[RIP - VTEnviro]

we jsut dont want to run down the savings account by $40k when im unemployed.

I'd just be happy to have $40k in the bank!

 

[CivE Bricky]

My husband and I tend to drive cars ‘til they’re not fixable any more.

My brother buys new or late model used and sells them after owning them just a few years – perhaps before they’re paid off.

I was surprised to do the math and learn that we both spend about the same amount on transportation. My family puts on way more miles than his does – but his average car over the whole period we looked at is nicer and newer than my choices.

It all depends.

*******************************

If you're not tied to the SUV idea, consider a higher end mini-van. It really is the ideal car for a family and the nicer ones like Honda Odyessy get better mileage than a similar SUV and can carry cargo you wouldn't believe. And it's a comfy ride. And ours has carried around 8 people quite a few times in the short year and half we've owned it.

 

[squishles10]

oh good lord i dont want a suburban!

 

[Chucktown PE]

not to beat a dead horse but Dave Ramsey says that the value of your vehicles should never be more than 50% of your annual income. So if you make $100k, the blue book value of your vehicles (include boats, 4 wheelers, motorcycles, airplanes, etc) should not be more than $50k. Also, I don't know if anyone has read The Millionaire Next Door but one thing I learned in reading that book is that most rich people (defined by a net worth of > $1 million) drive used cars. Dave Ramsey also says you shouldn't buy a new car unless you have a net worth of > $1 million.

 

[Capt Worley PE]

oh good lord i dont want a suburban!

Get a Tahoe. Nice used Tahoes can be had all day for about 20K.

Ford Edge is a pretty nice vehicle and can be had cheaply.

But seriously, I'd go with a Suburbayukahoe.

 

[squishles10]

thats probably because rich people can afford to fix them when they break... i prefer the warranty. this is the first new car ill ever have owned but every other used car hasnt lasted long enough to have been worth it. if my first car had been new it would have been a better deal. i get rid of the used ones when the cost me around a third of their value in a shirt period of time and their older than 6 years. at that point i figure im just going to be dumping money in them and i dont like having cars in the shop all the time- too much of a hassle. i like to drive what i pay for.

 

[MA_PE]

oh good lord i dont want a suburban!

heck! there's a LOT of 'em down in Texas.

you never know.

My SIL has driven 'burbans / Yukon XLs since 'their first son was born in '88. They have 3 kids and when we all went out, thier family of 5 and our family of 4 we generally could get by with one vehicle (when the kids were small we could squeeze 4 across in either the second or third seat). Of course all the kids drive now so she's "down-sized" to a Range Rover HSE, but they keep a 'burban in the stable for those nights when 6+ adults want to go somewhere.

If you get the room it's easy to fill it up.

When our kids were younger my wife had a full-size Caprice wagon. (sigh) they just don't make 'em like that anymore.

 

[Supe]

Have you considered the Hyundai SUV's? Kind of hard to beat the warranty on those things.

 

[benbo]

not to beat a dead horse but Dave Ramsey says that the value of your vehicles should never be more than 50% of your annual income. So if you make $100k, the blue book value of your vehicles (include boats, 4 wheelers, motorcycles, airplanes, etc) should not be more than $50k. Also, I don't know if anyone has read The Millionaire Next Door but one thing I learned in reading that book is that most rich people (defined by a net worth of > $1 million) drive used cars. Dave Ramsey also says you shouldn't buy a new car unless you have a net worth of > $1 million.

I have two cars with 150K miles plus on each. I'd be surprised if the value of my vehicles is 5% of my salary.

But people look at me sort of funny. Probably not because of the cars though.

I bought them new, and both are over 12 years old. So I think I got my money's worth.

 

[Flyer_PE]

^ I tend to buy new and Run To Failure also.

I still have my 1991 Toyota MR2 that I purchased new in May of 1990

1999 GMC Sierra also purchased new

2004 Jeep Liberty

They are all paid for. I was thinking about a new truck and even test drove a couple. However, when it came time to figure out the financing, I found the idea of having no car payment was far more appealing than having a shiny new truck.