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Not much out there is paying more than 2% though. 5 year CD's are paying 1.5 to 1.8 right now...anything shorter than that is closer to 1%. A decision like that for me would be a tossup depending on monthly cash flow. If household cash flow could easily absorb that payment, sure might make sense to ladder some CD's, hold that cash back in case of emergency when borrowing someone's money for basically free. On the flip side there is peace of mind not having to make that monthly car payment.
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Aug 5, 2013 21:32
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Leperflesh posted:The one caveat to that is that you need to put enough down that you are never upside-down on the car, or you'll have to pay for gap insurance to cover the difference and the cost of the gap insurance is likely to exceed the additional interest you're earning with your investment.  Or maybe they'll just buy a $32k car because that's what they like and people are allowed to spend their own money buying poo poo they like. Jesus Christ. Do you think every car that costs more than a bare bones Kia is some kind of elaborate Gordon Gecko fraud?
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Aug 5, 2013 21:52
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no, I'll be paying in cash.
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Throatwarbler posted:
hes saying that you intended to spend 20k and walked out spending 32k+. Its just example numbers: Your dotcom does well in its IPO so you walk in intending to buy the 200k bentley for cash but you walked out making payments on the 320k McLaren.
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Aug 5, 2013 23:11
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Is there really a "best" time of year, or time of month, to buy a car or is that a myth? Like the "we have to sell all the 2013s right now to make room for the 2014s so we are just giving these cars away" thing.
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Aug 6, 2013 00:56
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FrankeeFrankFrank posted:Is there really a "best" time of year, or time of month, to buy a car or is that a myth? Like the "we have to sell all the 2013s right now to make room for the 2014s so we are just giving these cars away" thing. Yes and No. The main difference is going to be the incentives offered by the manufacturer. End of model year can be a good time to pick up a car from a manufacturer that doesn't normally have to offer incentives. Honda and Toyota are good examples, their cars sell themselves so they rarely have to do incentive sales during a normal model year, but for their end of model year sales they might throw out a 1000 dollar rebate or a promo APR through their captive finance company or even both. Generally in most major markets you shouldn't have an issue negotiating close to invoice on a new car, but if you can stack a factory rebate on top of that you can get a pretty good deal. When I bought my Fusion I did something like that. Invoice + 2K in rebates and I ended up paying 5K off MSRP for my car and I snagged 1.9% from Ford Credit.
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Aug 6, 2013 02:38
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skipdogg posted:Not much out there is paying more than 2% though. 5 year CD's are paying 1.5 to 1.8 right now...anything shorter than that is closer to 1%. And you have to pay taxes on that interest.
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Aug 6, 2013 03:17
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Leperflesh posted:The one caveat to that is that you need to put enough down that you are never upside-down on the car, or you'll have to pay for gap insurance to cover the difference and the cost of the gap insurance is likely to exceed the additional interest you're earning with your investment. Customer: "I want to buy car X, in this trim, in this color. Do you have it in stock, and if so, how much?" Saleseman: "No, but I have it in a different color. Have you considered this luxery model?" Customer: "No, I'm here to buy car X, in this trim, in this color." Dominoes fucked around with this message at 03:22 on Aug 6, 2013 |
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Aug 6, 2013 03:19
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skipdogg posted:Not much out there is paying more than 2% though. 5 year CD's are paying 1.5 to 1.8 right now...anything shorter than that is closer to 1%. A decision like that for me would be a tossup depending on monthly cash flow. If household cash flow could easily absorb that payment, sure might make sense to ladder some CD's, hold that cash back in case of emergency when borrowing someone's money for basically free. On the flip side there is peace of mind not having to make that monthly car payment. All sorts of ETFs and preferred shares pay regular dividends in the 4 to 5 %. Yes the capital is "at risk" but they do pay you to own them.
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Aug 6, 2013 03:38
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I'm looking for advice/input on a toy/alternate driver. I ride my motorcycle to work pretty much every day and I'm totally fine with that. I want something that I can take when I'm running late, don't really feel good or take in the rain. That may sound like it contradicts what I'm about to say. I would like for it to be something fairly sporty that I can tinker with and do upgrades to(no fart cans or spinning rims, but upgrading suspension or possibly an engine swap/forced induction). I don't want to spend to much because I'm dumping money into my wife's Thunderbird. I'm thinking around $2500-3500 for a decent running car I don't care about exterior or interior cosmetics. Right now I've been considering an MR2 or maybe a Miata. What other cars should I consider?
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Aug 6, 2013 04:55
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Just wanted to say thanks everyone for the advice and tips. This is a great thread, thank you!
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Aug 6, 2013 14:03
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skipdogg posted:Not much out there is paying more than 2% though. 5 year CD's are paying 1.5 to 1.8 right now...anything shorter than that is closer to 1%. A decision like that for me would be a tossup depending on monthly cash flow. If household cash flow could easily absorb that payment, sure might make sense to ladder some CD's, hold that cash back in case of emergency when borrowing someone's money for basically free. On the flip side there is peace of mind not having to make that monthly car payment. What CD's? The highest ours go are 0.1% and that's depositing $100,000. Wells Fargo's go as high as 0.5%; that's with their "Special CD Rates". And Bank of America's goes up to 0.4%. Move your decimal point over one place dawg. Content: Any huge reasons I shouldn't buy a Porsche 944/928? I Am Not Spor fucked around with this message at 18:03 on Aug 6, 2013 |
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Aug 6, 2013 17:57
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Ahhh. I bank with credit unions. My wife put some of my kids money in a promo 15 month cd she has at her job @ 1.09%APR, and a 5 year with them is paying 1.59 right now. The CU we actually bank with is paying 1.62%APR on a 5 year. Bankrate shows a couple other banks paying a little higher than that. It's not much but it's better than .1% sitting in a savings account.
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Aug 6, 2013 18:06
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Fuckin' credit unions. Hippie poo poo man. Hippie poo poo. I never understand why people tie their money up for 5 years in bank's CD's; 0.1% is better than nothing, but it's so little money.
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Aug 6, 2013 18:11
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Xguard86 posted:hes saying that you intended to spend 20k and walked out spending 32k+. Its just example numbers Exactly this, right. Used car salesmen are infamous for a reason. They are very good at convincing people to spend way more than they intended to, going in. I was addressing the erroneous belief a lot of people seem to have, that an all-cash offer is the way to get a great deal on a car, as opposed to the reality that not only does it not get a great deal, it provides a salesman with strong evidence that you can afford more, and therefore makes him push harder for the upsell. Dominoes posted:So what's the other side? If the customer tells the salesman he wants the deal, does the salesman cut $3000 off the sales price? It's easy to say "no". If it were easy to say "no", people wouldn't routinely overpay for things all the time. I've met lots of people who have a hard time saying "no." Especially when what is being offered is tempting, and the person doing the offering is a professional at obscuring how much you're actually going to pay for it. Also: lots of people go car shopping without having previously settled on a specific car X in a specific trim and color which they're certain they want and nothing else is of interest. In fact I'd guess the large majority go shopping with a list of possibilities, and an openness to considering other options they might not have thought about.
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Aug 6, 2013 18:12
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Goddamn am I really tired of keeping up with maintenance and driving my 03 TT. poo poo is slow and heavy, suspension and body roll just suck the life out of everything except placid highway cruising. It's starting to just fall apart not really from use but from existing for 11 years. I'm starting the process of looking for a new ride. Proposed Budget: $25k New or Used: No preference. Used I could go back 3 years and this would expand my options, as I understand it. Body Style:) 2 door 2-seater or coupe, or possibly hot-hatch. Sporty and irresponsible. Not a convertible this time. How will you be using the car?: Weekender trips and occasional daily-driver. I work from home so commuting isn't a big deal. The waifu and I like to get out of town on weekends because central South Carolina is a terrible place. Do you prefer a luxury vehicle?: Not particularly in that I don't care about gizmos, but I'd like an interior that is actually well-built. A lot of the smaller cars I've driven tend to feel plasticky and ramshackle inside. Don't need a navigation system or satellite radio or seat heaters or whatever. What aspects are most important to you?: Fun to drive (manual a must) and reliability. I'd prefer to steer clear of muscle cars (I've seen the Mustang/Challenger pop up as a routine recommendation in this thread). I know enough about how cars work, but have never wrenched on my own and do not have the means to do so right now. I've gleaned a few good options from previous posters in my boat: Infiniti G35/37 and Nissan 370z Mazda RX-8 New FR-S/BR-Z Ford Focus ST Mazdaspeed 3 Anything I'm missing on a test-drive list? Regarding trade-ins, is it worth the extra bux to put currently outstanding maintenance items into my current car? I'm guessing that will be factored into its trade-in value, but would it be a dollar-for-dollar type of transaction? I guess for example, my timing belt is due for a 5-year replacement come like October. Would it be better to have someone do it, or just hold off and let whatever dealer I trade to do it? Thanks y'all, just reading through this thread has been a big help. Gunshow Poophole fucked around with this message at 20:06 on Aug 6, 2013 |
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Aug 6, 2013 20:02
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Stew Man Chew posted:
Volvo C30 and BMW 128i coupe(135i is probably more than you want to spend) comes to mind immediately. Also Fiesta ST and FIAT 500 Abarth depending on how small you want to go.
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Aug 6, 2013 20:40
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Throatwarbler posted:Volvo C30 and BMW 128i coupe(135i is probably more than you want to spend) comes to mind immediately. Also Fiesta ST and FIAT 500 Abarth depending on how small you want to go. Test drove the C30 back when and wasn't particularly impressed, but I'll take another look. I'd forgotten the 1-series but I'll put it on my list, the 128 with a V6 sounds like a good trip. The Abarth is too small. Fiesta might just make it, I wasn't aware it was available in that trim, but it... kinda looks funny  Thanks!
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Aug 6, 2013 20:52
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Stew Man Chew posted:Test drove the C30 back when and wasn't particularly impressed, but I'll take another look. Have you checked out any of the turbo Minis? Those are fun cars and with some basic mods ride like a big go-kart.
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Aug 7, 2013 00:29
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Leperflesh posted:If it were easy to say "no", people wouldn't routinely overpay for things all the time. I've met lots of people who have a hard time saying "no." Especially when what is being offered is tempting, and the person doing the offering is a professional at obscuring how much you're actually going to pay for it. Dominoes fucked around with this message at 00:45 on Aug 7, 2013 |
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Aug 7, 2013 00:33
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Dominoes posted:My post was in response to your advice to hide the intention to pay cash. You implied mentioning paying cash could cause a salesman not to give a discount. Why is this, and how would it play out when hiding the cash intention? A lot of car salesmen will just quote a price and not detail out "XXX comes due to this incentive, YYY comes from this incentive", even though they're using that money behind the scenes to get the deal done. If some of that money would normally come as a kickback from financing and you tell them you have no interest in their financing, there goes the incentive money from it. Stew Man Chew posted:Regarding trade-ins, is it worth the extra bux to put currently outstanding maintenance items into my current car? I'm guessing that will be factored into its trade-in value, but would it be a dollar-for-dollar type of transaction? I guess for example, my timing belt is due for a 5-year replacement come like October. Would it be better to have someone do it, or just hold off and let whatever dealer I trade to do it? Leave it for the dealer. When I traded in my MS3 they didn't even look or ask for any maintenance records.
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Aug 7, 2013 00:39
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Ponies ate my Bagel posted:Have you checked out any of the turbo Minis? Those are fun cars and with some basic mods ride like a big go-kart. I have not, should I? Just seemed too gimmicky for me, and a backseat/trunk that would pretty much be a waste for my purposes. IOwnCalculus posted:
Wonderful, thank you. When I test drive the MS3 I might send you a PM and ask for your take on that car as well if you don't mind 
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Aug 7, 2013 00:45
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Stew Man Chew posted:I have not, should I? Just seemed too gimmicky for me, and a backseat/trunk that would pretty much be a waste for my purposes. Yes. They're among the best driving FWD cars out there.
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Aug 7, 2013 06:34
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Dominoes posted:My post was in response to your advice to hide the intention to pay cash. You implied mentioning paying cash could cause a salesman not to give a discount. Why is this, and how would it play out when hiding the cash intention? Basically, cash is the least-attractive payment option for a dealer. That gives them the lowest incentive to try to win your business. Moreover, many new cars come with factory incentives that are different depending on whether you finance or not; the incentive for financing goes to both the dealer and, often, to the buyer (cash back or a promotional rate or both). My point, then, isn't that you will definitely pay more if you pay in cash; only that the common belief that offering cash means getting a better deal from a dealer is incorrect. I think this perception comes from the fact that most retailers prefer cash over a credit or debit card, because merchants have to pay transaction fees for every credit card purchase. Those fees are of course built into the price you pay for things at the register, as a cost of doing business; but every cash sale means the built-in premium the merchant has added to his wholesale prices as part of his markup gets to go into his pocket instead of the payment processor. So people get the idea that cash is always the most attractive option to a retailer, and apply that, erroneously, to car purchases.
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Aug 7, 2013 07:13
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I Am Not Spor posted:Content: Any huge reasons I shouldn't buy a Porsche 944/928? 928 - it's expensive if something goes wrong, which happens what you expect for 20+ year old luxury grand tourer.
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Aug 7, 2013 07:19
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Everyone knows a wheelbarrow full of precious metals and gems is the best way to buy a car.
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Aug 7, 2013 07:20
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Rhyno posted:Everyone knows a wheelbarrow full of precious metals and gems is the best way to buy a car. Car buying guide. Its a little dated but still has some solid advice: https://www.youtube.com/watch?v=Z8g__x6ExM8
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Aug 7, 2013 19:38
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Proposed Budget: $6-7000 New or Used: Used Body Style: Four door sedan, but not particularly picky on two doors. How will you be using the car?: Driving to work 25-30 miles, store trips, nothing too crazy. Do you prefer a luxury vehicle with all the gizmos? Nope, as long as the AC/Heat and stereo work I'm good to go. What aspects are most important to you? It actually loving working, good gas mileage, not an utter eyesore. I'll put it bluntly: My dad is not the best at buying cars. He's helped all of my siblings out with purchases, and it seems he always 'has a guy' who's selling a car and there are details left out about it. I had a '94 lumina before I liked that was owned by an older lady giving up driving. No complaints about it, good car and did what I needed it to do. The last car we bought though, holy poo poo. '01 Taurus and it has been nothing but a goddamn nightmare since we picked it up. Should've backed up when it was being sold by a 'retired' used car dealer but it seemed like a good deal at the time. Never mind we've dumped the cost of the car into getting it to work. Lately it's been having problems turning over (again) and I'm tired of dealing with it. Hoping to get it sold in two weeks and finding something that can just do simple things like run for more than three weeks without having battery or ignition problems.
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Aug 7, 2013 21:21
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kimbo305 posted:944 - go for it. Get on Motronic's good side. Exactly the stuff I wanted to hear. My short list is useful cars for the poo poo I do: A6 wagon, A4 wagon, Jetta wagon, Passat wagon, and then I'm looking at a 944 and my neighbors MGB GT, which may not even work. 
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Aug 8, 2013 05:39
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Got an update from the Adventurists saying that the 2014 Mongol Rally will have a lower entry fee, and the age restriction will be removed from all cars. In 2012 I got as far as Astrakhan in a cruddy Renault Clio-- never again will I be in one of those things. The Rally's supposed to be a sort of prize-free road trip from Britain to Mongolia, and there's no set route. The only limits are on the cars, and in 2014 I think the engine limit will still be 1.2L. From the previous experience with the Renault (never again), the importance of repairability really stuck with me. What would be the most easily-repairable car that one could buy used in Western Europe or America, but could be likely fixed by a mechanic in Kazakhstan, while still within a 1.2L engine limit?
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Aug 8, 2013 06:44
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A Lada of some sort? Look, I found a perfect specimen for you: 1198 cm³ of fury and pretty agricultural, so should be fixable in Kazakhstan, very nice! http://www.autoscout24.de/Details.aspx?id=234810403&asrc=st Otherwise a Yaris maybe, or a probably less reliable but more fixable (and popular in the region) Chevy/Daewoo Matiz. Sadly it looks like the smallest Suzuki Samurai was 1.3 as far as I can tell. May I suggest cheating or an engine swap? If you don't mind my asking, how much does something like this cost on top of the car purchasing price/entry fees? I already have a vacation taken care of for this year, but 2014 could be possible, and it sounds really fun. mobby_6kl fucked around with this message at 09:40 on Aug 8, 2013 |
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Aug 8, 2013 09:38
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mobby_6kl posted:A Lada of some sort? Look, I found a perfect specimen for you: quote:If you don't mind my asking, how much does something like this cost on top of the car purchasing price/entry fees? I already have a vacation taken care of for this year, but 2014 could be possible, and it sounds really fun. Visa application fees were in the hundreds of dollars, as well. The route our team was taking was, from a British starting point, east to the Czech Republic, a little detour in the Tirolian Alps, then down through the Balkans, up into Russia through the Caucasus, cutting through Kazakhstan and briefly re-entering Russia in the Altai Republic before entering Mongolia. For that route, as an American, I had to apply for Russian and Kazakhstan visas months in advance, and had to pay somewhere around $300 for application fees and for going through a visa ordering service (Visa HQ, in my case). Everybody also had to buy a $20 little sticker at the Turkish border, which I guess counts as a sort of visa? Inoculations and immunizations were also important to get-- I don't have the paperwork and cannot recall every shot I got, but I think the bill ended up being something like $250 for everything, all told. Didn't get malaria pills, we never planned to go into regions where that was a serious issue. Lodging costs seriously varied for everyone. I traveled with a couple who weren't big fans of camping, so we tended to stay in hostels and hotels more than we ever roughed it out in the countryside. Beds at a cheap hostel could vary from anywhere between $10 and $30 a night in my experience, depending on where exactly you are. I ended up bailing out in Astrakhan because my money was running out a lot sooner than I had planned-- the Renault's throttle position sensor had died on us during the Alpine detour (the team captain saw Top Gear and wanted to drive through the Stelvio Pass in our overloaded Clio), so we ended up spending extra days in one of the most touristy and expensive parts of Europe, having to repair a costly electronic bit in our car. A mechanic in Bolzano eventually just swapped out the sensor with the sensor from another Clio that was in the shop for something else. e: Plus every team had to raise at least £1000 for charity. That bit isn't too hard if you just talk to friends and get a piece or two in the local paper. Ofaloaf fucked around with this message at 13:34 on Aug 8, 2013 |
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Aug 8, 2013 13:18
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puberty worked me over fucked around with this message at 05:42 on Jun 23, 2019 |
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Aug 8, 2013 15:01
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A friend of mine is replacing a POS college car with a brand new economy car. We've worked out the purchasing details, but I have no clue how to get the most money out of a 150K mile Hyundai Accent with a hosed transmission. Quotes from mechanics are in the $2500 range to replace the hosed transmission and it's not worth that, so it's getting replaced. Is the best place to sell a car that moves under its own power, but can't go into Reverse, 2nd, or 4th gear on Craigslist, to a mechanic, or trading it into the dealer as we can manage to limp it in there? One of the mechanics who quoted him $2600 to replace the tranny with a used one offered him $200 for the car, less than a junkyard would pay.
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Aug 8, 2013 15:17
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Extra posted:Proposed Budget: Least amount of money physically possible. Wait your cost to insure a $2k car for a year is $2k? Do you have a laundry list of accidents or tickets? I pay less than $1k a year for my Infiniti EX35 for comprehensive with high property values. Granted I've never had a driving infraction in my 12 years of driving.
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Aug 8, 2013 17:38
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Extra posted:vvv At least in the mean-time while you're figuring it out what to do with it, throw it up on CL for $700. That mechanic's lowball was pretty funny though. vvv Thanks, I guess we'll toss it up on CL and see who bites. Because it drives and a new Hyundai is among the possible options, maybe we dump it on some dealer to get loyalty bonus? Haha. Did a quick used car check to see if used could make more sense than new, and we found a 2007 Fit Sport with 78K miles for $6500. That feels suspicious and too good to be true, if the carfax is clean just jump on that poo poo? Pictures are complete online and the dude didn't sound shady on the phone.
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Aug 8, 2013 17:41
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Stew Man Chew posted:When I test drive the MS3 I might send you a PM and ask for your take on that car as well if you don't mind It's a mental little car and a loving riot because of it. It's the first car I've ever gotten rid of where even with the overwhelming stack of reasons in the "get rid of" category, I still wish it would've made sense to keep it.
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Aug 8, 2013 18:28
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puberty worked me over fucked around with this message at 05:42 on Jun 23, 2019 |
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Aug 8, 2013 19:27
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For under $2000, you're looking at individual condition rather than car model. You can't go into sub-$2000 cars and say "I want an X." You can have an idea, but be really for anything that fits, is in good condition, and isn't a Maserati bi-turbo. Paseos do kind of suck for that era-Toyoa, but you're shopping $2000 cars. That said, I haven't seen you mention domestics once. A used final gen escort is probably going to be a good one to look at. Do you live in the rust-belt?
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Aug 9, 2013 06:06
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Look at the first gen ford focus. The newer, safer thing might be less on insurance and you can get a good one for $3000. I routinely saw them for prices that I would talk down to 2k on craigslist in southern California. If you are looking at a car that cheap I am assuming that you expect them to need work. ex: http://inlandempire.craigslist.org/cto/3956628322.html http://inlandempire.craigslist.org/cto/3988736918.html
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Aug 9, 2013 07:34
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puberty worked me over fucked around with this message at 05:42 on Jun 23, 2019 |
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Aug 9, 2013 08:16
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