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I am looking at financing a Mazda CX-5 right now. Out the door the prices I am looking at are around $26,000. I can afford to buy a ~$26,000 car up front without financing, but I can get a pretty decent loan rate at around 2.5% for 60 months. Is there any reason I shouldn't go with the financing at that rate (I would still make a down payment I think)? I am investing any extra money I have, so it should do better than 2.5% on average.
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Jun 29, 2015 17:08
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Mind_Taker posted:I am looking at financing a Mazda CX-5 right now. Out the door the prices I am looking at are around $26,000. I can afford to buy a ~$26,000 car up front without financing, but I can get a pretty decent loan rate at around 2.5% for 60 months. Is there any reason I shouldn't go with the financing at that rate (I would still make a down payment I think)? I am investing any extra money I have, so it should do better than 2.5% on average. You just probably want to put enough money down, or pay down early enough, that your loan balance isn't significantly higher than the car's value. That reduces any need whatsoever for gap insurance.
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Jun 29, 2015 17:21
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Mind_Taker posted:I am looking at financing a Mazda CX-5 right now. Out the door the prices I am looking at are around $26,000. I can afford to buy a ~$26,000 car up front without financing, but I can get a pretty decent loan rate at around 2.5% for 60 months. Is there any reason I shouldn't go with the financing at that rate (I would still make a down payment I think)? I am investing any extra money I have, so it should do better than 2.5% on average. I recommend people don't finance any of the taxes and fees of the car purchase if they can avoid it. I find it helps with that upside down situation when most people want to get rid of the car around the 3 year mark. Unless you're the type of person who drives cars into the ground, and you know 100% for sure that you'll keep the car for at long time, then borrow as much cheap money as you can. I like to use 7.5% as an annual rate or return for the S&P500, it's done much better than that in recent years, but it's a pretty safe number to use, just a touch lower than the all time average. That 26K invested, could be worth around 39K at the end of 5 years (assuming you don't add to it). You'll have paid 1700 dollars in interest on the car loan (assuming 26K @2.5%). On the opposite side of the coin, if you pay cash today, but invest $461/mo (your car payment), at the end of 5 years with a 7.5% annual rate of return, you'd have about 34.1K in the bank. You come out about 3K ahead by financing in this situation (34.1K +1.7K=35.8K) 39K > 35.8K.
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Jun 29, 2015 17:58
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KYOON GRIFFEY JR posted:AWD is retarded if you live in a major US city unless you happen to be EMS or something similar. Or you like parking lot snow drafts.
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Jun 29, 2015 18:52
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nm posted:Or you like parking lot snow drafts. RWD, son.
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Jun 29, 2015 19:50
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KYOON GRIFFEY JR posted:RWD, son. Eh, AWD is way more fun in the snow. Plus, you're less likely to get stuck in an unplowed lot after a foot or more falls. Also, if you're in Minnesota, the AWD really helps get you off the frozen lake after you're done (icy boat ramps).
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Jun 29, 2015 22:51
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skipdogg posted:You come out about 3K ahead by financing in this situation (34.1K +1.7K=35.8K) 39K > 35.8K. It's not quite a fair comparison, no one should be invested 100% in stocks. Once you start including cash and bond holdings, the numbers starts looking more like 5-6%. Nor can you really use your assumed rate of return for long-term holdings unless you are sure you can absorb the duration mismatch. And unless those are tax sheltered holdings, you need to knock off another 15% for taxes. That said, yeah, rates are low right now and loans for new cars get subsidized by manufacturers. It makes sense to borrow as much as possible (without hitting gap insurance) in most circumstances.
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Jun 29, 2015 23:43
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I don't know if this is the right thread for this question, but I'm going to ask anyways. Recently my 2005 Acura TSX has come across with some sort of horrifying issue where it shakes violently, check engine light blinks, and randomly stalls. This happened last Friday, I took it into the shop Saturday morning and they are looking into it. They have yet to tell me how much the damage is but they indicated it sounds bad. My TSX is 230k miles on it, completely paid off. It's completely clean, no body damage, no rust spots. I love the car. I've driven it from Maryland to Ontario back and forth twice and have had minimal major issues with it throughout it's lifespan. Hypothetically if it is as bad as it sounds, should I shell out the cash to fix it if it's over $2000? I can afford a new car, though I would prefer not to as I'm saving up to buy a house. Dick Boat fucked around with this message at 23:56 on Jun 29, 2015 |
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Jun 29, 2015 23:49
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Dick Boat posted:I don't know if this is the right thread for this question, but I'm going to ask anyways. Probably. It's a car you love. As you get to that level of mileage, there are going to be more repairs, but you should still come out ahead compared to a car payment. If you wanted a new car, I'd say get a new car, but from a pure min/max situation, it's better to keep your car, and you have the added bonus of not wanting a new car.
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Jun 30, 2015 00:12
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Dick Boat posted:I don't know if this is the right thread for this question, but I'm going to ask anyways. Based on your limited description it may not be that bad. Shaking, CEL and random stalls sound like an spark/ignition issue, or possibly a loose battery cable or some similar electrical glitch, which are pretty cheap to deal with as far as these things go. Is it a manual or auto? I guess depending on the kind of shaking it could also be the automatic trans is on its way out which is pretty bad.
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Jun 30, 2015 00:19
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That absolutely sounds like an ignition problem, which tend to be relatively cheap to fix. Could be a bad coil, a bad ground, bad wiring harness, things like that. Only downside is that ground issues can be tough to diagnose.
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Jun 30, 2015 01:42
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Grumpwagon posted:Probably. It's a car you love. As you get to that level of mileage, there are going to be more repairs, but you should still come out ahead compared to a car payment. If you wanted a new car, I'd say get a new car, but from a pure min/max situation, it's better to keep your car, and you have the added bonus of not wanting a new car. KYOON GRIFFEY JR posted:That absolutely sounds like an ignition problem, which tend to be relatively cheap to fix. Could be a bad coil, a bad ground, bad wiring harness, things like that. Only downside is that ground issues can be tough to diagnose. Throatwarbler posted:Based on your limited description it may not be that bad. Shaking, CEL and random stalls sound like an spark/ignition issue, or possibly a loose battery cable or some similar electrical glitch, which are pretty cheap to deal with as far as these things go. Is it a manual or auto? I guess depending on the kind of shaking it could also be the automatic trans is on its way out which is pretty bad. It's an automatic. Thanks for the advice. They should be calling me today to tell me what the exact issue is. I Googled around and saw that was the most common (coil/ignition), so that makes me feel a little better about it.
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Jun 30, 2015 15:13
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This is for a friend who is very timid, so I can only give rough details. He's torn between a Miata and a Mustang, which are as far as I'm concerned two very different cars (I4 vs. V-6 Ecoboost/V-8). I think his max ceiling budget was around ~27,000. He wants something he can drive in the summer that's fast, sporty, and comfortable. I personally think he's better off with the Mustang but I would like others input as well.
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Jun 30, 2015 17:28
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Top Hats Monthly posted:This is for a friend who is very timid, so I can only give rough details. That question can be answered by a test drive. They're as opposite as sports cars can be.
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Jun 30, 2015 18:44
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Top Hats Monthly posted:This is for a friend who is very timid, so I can only give rough details. I replaced an NB Miata with a 2013 Mustang and have very mixed feelings about it. If we wants a convertible, get a Miata hands down. If this is really to be a pleasure car that he doesn't drive during winter, get a Miata. If he doesn't need the backseat occasionally, get a Miata. There's no V6 Ecoboost Mustang and $27k doesn't get a new 4-cylinder Ecoboost Premium. If he actually needs a backseat / a year round daily driver / more power, he should look for a V6 Performance Package 2011-2014 Mustang for $14k-17k or just a V8 2011-2014 for $22k-24k. Basically, he should get a Miata unless there's some reason he can't. If he's looking for Mustangs and "comfort" was on the list, I'd prioritize a Premium over a base. Twerk from Home fucked around with this message at 18:52 on Jun 30, 2015 |
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Jun 30, 2015 18:50
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Going on recommendations, I finally got down to the dealership to test drive a Honda Fit and I just wont fit in it. My knees will bump into the dash/console, head is less than an inch from the roof. Any other tall people ITT? Im 6'4" & fat, looking for a commuter/road trip kinda car with good mileage, ideally a hatchback. Looking for low $20k, but definitely under 30k. Would people say the Prius is slightly bigger? e: I test drove a Crosstour that was okay, but I dont really like the idea of buying a car that nobody else wants so its being discontinued. KoB fucked around with this message at 20:24 on Jun 30, 2015 |
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Jun 30, 2015 20:21
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The Crosstour is fine if you like it, mainly Accord mechanicals and Honda ain't goin anywhere. You could try the other little hatches - Chevy Sonic and Cruze, Mazda 2 and 3, Ford Fiesta and Focus, Nissan Versa Note, Subaru Impreza just to name a few off hand. If you have size issues, you kind of have to take what you fit in to.
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Jun 30, 2015 20:59
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Twerk from Home posted:I replaced an NB Miata with a 2013 Mustang and have very mixed feelings about it. If we wants a convertible, get a Miata hands down. If this is really to be a pleasure car that he doesn't drive during winter, get a Miata. If he doesn't need the backseat occasionally, get a Miata. Oh the ecoboost is an inline 4 
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Jun 30, 2015 21:18
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Top Hats Monthly posted:Oh the ecoboost is an inline 4 Your friend should drive both and decide. However, if your friend is considering an automatic WHICH THEY MOST CERTAINLY SHOULD NOT BE FOR A SPORTS CAR, I would recommend the Mustang.
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Jun 30, 2015 21:48
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Posted in here a few weeks back about eventually replacing our Celica or Volvo S60. Well the Volvo suddenly needs a new throttle ($650 quote) immediately, and in the near future various other repairs totaling >$2,000 (wheel strut, axle boots, a/c condenser). We are going to get rid of it. It's an '02 and worth probably 3-4k I would guess in its current state. I think we are going to get a gen2 Prius ('06-'08 most likely). What is a ballpark fair price to look for one around 100k miles? I think we are going the dealer route since we want to trade in the Volvo. khysanth fucked around with this message at 02:00 on Jul 1, 2015 |
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Jul 1, 2015 01:04
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KYOON GRIFFEY JR posted:Your friend should drive both and decide. However, if your friend is considering an automatic WHICH THEY MOST CERTAINLY SHOULD NOT BE FOR A SPORTS CAR, I would recommend the Mustang. Isn't the auto in the Mustang pretty famous for being terrible from the factory? All the people in the Mustang thread who have autos are falling over themselves installing aftermarket controllers and poo poo. Maybe look at other cars if you can't drive stick.
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Jul 1, 2015 04:01
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khysanth posted:Posted in here a few weeks back about eventually replacing our Celica or Volvo S60. Well the Volvo suddenly needs a new throttle ($650 quote) immediately, and in the near future various other repairs totaling >$2,000 (wheel strut, axle boots, a/c condenser). We are going to get rid of it. It's an '02 and worth probably 3-4k I would guess in its current state. Your S60 that needs $600 in repair immediately and $2k in repair int he near future might, from the right angle, if everything else is really great about the car, be worth two grand.
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Jul 1, 2015 12:55
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Proposed Budget: $300/mo or roughly $12k financed New or Used: Used Body Style: sporty 4 door or wagon. How will you be using the car?: 15 mile commute, single dog hauling, road trips. What aspects are most important to you? Speed and class. I've got a kick rear end job and would like something a bit classier than my previous cars without giving up the performance i had from my WRX. Currently the WRX is a project car and I've got an 02 Altima that I am less than thrilled with. (oil leak, beat up body, CEL for O2 sensor, but cold A/C in KS and just not an inspiration/fun to drive/awesome) However, paying it off has made me realize a $250/mo car payment isn;t that bad anymore with my current income. (I got it for $2500 and paying a coworker @ 0%) I'm looking at something nicer, currently this 2007 S60R. I'll be getting my bonus from work next Friday, and am seriously considering driving out there and trading the altima + cash down for it. Doing some rough out the rear end math, financing $12K @ 3.9% for 60 months comes out to about 225/mo. I'd be setting aside cash for repairs and such as well as i'm aware of several of the common pitfalls of this model. Test quote with my current auto ins saw a rate increase of $30/mo for full coverage (no gap). Thoughts? Other options include spending ~$700 on the Altima and selling it private party (respray/dip and window tint), then using the cash as payments/repair savings/project finance vs trading it in. (with a new paint job it may be worth closer to $4.5k private party vs the $1500 trade in)
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Jul 1, 2015 21:07
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I didn't see this mentioned in the OP at all, but what are people's views on Certified Pre-Owned vehicles? I gather this is something like having a refurbished vehicle, where the manufacturer has actually taken it in for a look? Is it worth the additional price you pay for it, or are you better off just buying a regular used car and doing diligence on its history/condition?
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Jul 1, 2015 21:38
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toplitzin posted:Proposed Budget: $300/mo or roughly $12k financed Buddy, you're talking about an eight year old car that is known to cost about two grand a year in M&R, and you're going to finance it over five years? I love the Rs, but turn left. Just based on your post, it doesn't seem like you have a very clear handle on your actual budget since you talk about $300/mo as your budget.
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Jul 1, 2015 21:48
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Ashcans posted:I didn't see this mentioned in the OP at all, but what are people's views on Certified Pre-Owned vehicles? I gather this is something like having a refurbished vehicle, where the manufacturer has actually taken it in for a look? Is it worth the additional price you pay for it, or are you better off just buying a regular used car and doing diligence on its history/condition? The dealer does a basic checkup of the car and if it's not literally on fire charge you for an extended warranty on it. Whether that's worth it is up to you, but no they don't go and "refurbish" anything.
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Jul 1, 2015 21:48
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Ashcans posted:I didn't see this mentioned in the OP at all, but what are people's views on Certified Pre-Owned vehicles? I gather this is something like having a refurbished vehicle, where the manufacturer has actually taken it in for a look? Is it worth the additional price you pay for it, or are you better off just buying a regular used car and doing diligence on its history/condition? A guy looked at it for a good while and then there's some extended warranty of some kind, usually. I might pay up to $500 more over a good condition used car with good records.
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Jul 1, 2015 21:49
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Ashcans posted:I didn't see this mentioned in the OP at all, but what are people's views on Certified Pre-Owned vehicles? I gather this is something like having a refurbished vehicle, where the manufacturer has actually taken it in for a look? Is it worth the additional price you pay for it, or are you better off just buying a regular used car and doing diligence on its history/condition? "CPO" is a very fancy way for a dealer to sell you a used car with a very good warranty. Normally you have the option to buy the exact same car without a warranty for cheaper. The manufacturer hasn't "taken it in for a look" any more than any other used car.
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Jul 1, 2015 21:49
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http://occasions.aclauto.nl/Volvo/V40/1.8-Sports-2120473/4691/1/3/details.aspx?zoek=&dgid=3&so=gallerij Is this a good price/car?
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Jul 1, 2015 22:40
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KYOON GRIFFEY JR posted:Buddy, you're talking about an eight year old car that is known to cost about two grand a year in M&R, and you're going to finance it over five years? I love the Rs, but turn left. Just based on your post, it doesn't seem like you have a very clear handle on your actual budget since you talk about $300/mo as your budget. Not really. the $300/mo is whats coming out of my discretionary income after the bills and no more debt payments. I've been aggressively reducing CC debt for quite some time and now that they are paid off I have money for both savings and "fun" money. i'm willing to have less "fun" money and have a more fun car instead. I tend to pay off loans aggressively anyway, so regardless of the monthly payment I'd be paying minimum $300/mo on the note. edit: A bit more background. The WRX had engine failure and forced me to buy a replacement car. I picked up the Altima because it was cheap and worked and was a utility car and i needed a car right then, because well car. I really don't enjoy a utility car. Instead of choosing to rebuild the WRX on an aggressive schedule(Over the next 4-6 months), I'd rather turn that money into a much nicer/enjoyable daily driver, and get around to the WRX a bit later (12-18month). Double edit: Got my pre-approval back from the credit union, if I were to finance the entire amount (dear god no, good thing I have a down payment+trade) It would be a roughly $15,000 loan at 5% over 60 months, $285/mo. No pre-charged interest and no early payoff penalty. toplitzin fucked around with this message at 23:39 on Jul 1, 2015 |
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Jul 1, 2015 22:46
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toplitzin posted:Not really. the $300/mo is whats coming out of my discretionary income after the bills and no more debt payments. I've been aggressively reducing CC debt for quite some time and now that they are paid off I have money for both savings and "fun" money. i'm willing to have less "fun" money and have a more fun car instead. This is a stupid idea and you should keep driving the Altima until you have more money but if you must buy a car buy something less stupid like a Mustang or Camaro or Miata that isn't going to bankrupt you.
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Jul 1, 2015 23:51
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OEM shocks from volvo are $1000 per corner. There are cheaper sources (though there is no generic), bit that gives you an idea as to costs.
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Jul 2, 2015 00:58
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2000 LS400, 90k miles, $5500--how does this look to the thread? http://seattle.craigslist.org/oly/cto/5102676455.html I am a little concerned about the maintenance, as well as the fuel costs associated with a V8, but it seems to be a pretty decent price for a car in this condition.
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Jul 2, 2015 17:09
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How the heck should I negotiate a new car purchase if I'm buying via Ford A-plan, so the only difference between dealers is the price I get on my trade in? I found out that I can get more in trade for my 2013 V6 Mustang with 40k miles than a Fiesta ST costs under A-plan, so I'm considering doing a free swap. I want to get the most that I possibly can for the Mustang though, so I'm willing to shop around some.
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Jul 2, 2015 17:42
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Bro Enlai posted:2000 LS400, 90k miles, $5500--how does this look to the thread? The LS is extremely reliable. Parts are a bit more expensive but you shouldn't have too much issue with maintenance cost.
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Jul 2, 2015 17:59
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nm posted:OEM shocks from volvo are $1000 per corner. There are cheaper sources (though there is no generic), bit that gives you an idea as to costs. Buying and owning a Volvo is basically as/more expensive as a BMW/Mercedes/Audi, yet somehow they don't have the "expensive" stigma. In the cases of parts they can be even more expensive since they're such a smaller manufacturer with a much smaller market share and way less third-party support. Volvos haven't been overbuilt, relatively-simple tanks since about 1992. Modern Volvos are very complex cars and actually don't score very well on reliability, especially the extra-niche models.
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Jul 2, 2015 18:30
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Bro Enlai posted:2000 LS400, 90k miles, $5500--how does this look to the thread? http://carbuying.jalopnik.com/im-driving-a-lexus-with-900-000-miles-across-the-countr-1684015600/1686272604
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Jul 2, 2015 20:42
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Bro Enlai posted:2000 LS400, 90k miles, $5500--how does this look to the thread?
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Jul 4, 2015 00:34
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Proposed Budget: Variable between 3-10k New or Used: Used Body Style: 2 Door Convertible How will you be using the car?: I've recently moved back to LA and have a <20 minute commute to and from work. I also would occasionally consider driving to Vegas or Phoenix to visit family. My first stint through here I drove a 1998 BMW Z3 that I adored, but I picked it up as a beat for under 4k and sold it off for nearly that when I left 5 moths later. Now I'm back and going to be here a bit more 'long-term' and considering the possibility of upgrading to a hard-top model that is more comfortable for driving long-distances. What aspects are most important to you? I'd love to have a reliable, 'fun' European import (personal preference here) that I can enjoy dropping the top on and driving up Highway 1 in the summertime. I'm a chronic bachelor and never haul cargo, I'm not looking to finance anything. It is always a possibility I'm going to have to pack up and move across the world, so resale value would be good to. I've been mostly looking at either another Z3 from the same era as my old one (1998-2001) - https://losangeles.craigslist.org/sgv/ctd/5090976420.html or Mercedes SLK's in that same age range - http://www.cargurus.com/Cars/l-Used-Mercedes-Benz-SLK-Class-Los-Angeles-d87_L2163#listing=110533940. Links are so far solid examples of both I've found. I'm going to be test-driving one of the Benz cars in a few days to compare to how I remember the Z3, but if there was any sage advice to be had regarding either of these or alternative possibilities I'm very open.
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Jul 7, 2015 01:50
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miata miata miata miata miata MIATA buy a Mazda Miata It checks every single box that you have other than "is European"
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Jul 7, 2015 13:29
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