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necrobobsledder posted:I'm going to toss in that sometimes leasing a car is actually cheaper than buying it due to worse than average depreciation and cost of maintenance if you're not very savvy at doing your own maintenance. This is common among luxury cars. You pay for both depreciation and maintenance whether you own or lease. With owning, you pay for actual depreciation. With leasing, you pay for expected depreciation. Therefore, you come out ahead with leasing if the actual depreciation over the term is worse than the expected depreciation priced into the lease. Car manufacturers used to do this intentionally by screwing with residuals to make leasing more attractive. I don't think anyone dos this any more. They can also do this accidentally by screwing up the models they use to predict residual values, but they're usually pretty good about getting it right, since they have financial incentive to do so - leases are effectively call options in this regard. The buyer can recapture any excess depreciation he paid for by buying the car at the buyout price and selling it at market value, but the seller cannot recover any deficient depreciation he failed to price into the original contract.
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Oct 12, 2009 16:50
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hobbesmaster posted:Brakes are also critical of course. If your disk brakes are squealing it means that they need to be replaced now. Disc brakes that are squealing need to be looked at by someone who knows brakes. Squealing might mean they just need more anti-squeal applied to the pads, or it might mean it's time to replace them. I agree that suspensions are more degredation-tolerant than tires or brakes, but suspensions play an important role in handling and safety, too. It's responsible for keeping the tires in good contact with the road. Here's a quick test for shock absorbers: at each corner of the vehicle, press down with all your weight, then release suddenly and watch the body of the car. Ideally, it will rise back to its resting position and stop. It's acceptable to overshoot slightly, and stop on the way back down. Any more bouncing than that and it's time to replace the shocks/struts. SlapActionJackson fucked around with this message at 20:36 on Oct 12, 2009 |
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Oct 12, 2009 20:30
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Are you sure the brakes and alignment need to be done? Both of those should be OK at 35K miles on ordinary cars, in ordinary use.
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Oct 16, 2009 23:51
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CornHolio posted:Payoff balance this month, after 51 payments: $3988.89 These numbers don't make sense. You can calculate an NPV at various discount rates to find out the original balance for different interest rate scenarios, then calculate a simple amortizing payment on that NPV amount at the same rate, for the expected period, and the payment should match if everything's right. But I can't get it to converge with your numbers. I don't think that term could possibly be right, it just doesn't work out to have payments that high, but a payoff that low with 24 months left to go. Closest I can get to making sense is a 61 month term on $20,094 financed at 9.1%. That works out to a $412.68 payment with a $3959.76 balance owed after payment 51, with about $1/day accumulating in interest. Since 61 month auto loans aren't typical, I instead guess you're off by one payment: 60 months on $19834 @ 9.1% is $3959.82 owed after payment 50 plus $1/day.
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Nov 11, 2009 05:13
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Many car allowances come with strings attached as to what is an acceptable car. Does the Saturn meet the qualifications? How much is the overage penalty on the lease?
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Jan 29, 2010 14:48
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According to Edmunds, $.15/mi is WAY more than the actual depreciation hit for extra miles on an '07 ($.03 - $.08 is the rage it seems to be pricing in). So I wouldn't go over your lease miles if you can help it. I'd probably drive the saturn 3K more miles then park it until July. (Not literally. Drive it for 20 minutes once a week to keep it in running order - cars don't like to just sit). Once you add the second car and tell them you're basically not driving the saturn any more, the cost to insure it will drop down to peanuts.
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Jan 30, 2010 18:48
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Throatwarbler posted:This is why carmakers also use the EPA mileage figure in their promotional material Carmakers use EPA figures in all of their materials because they are prohibited from using anything else.
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Jun 1, 2010 05:19
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^^^ You're over thinking this. In your car-lease-is-a-valuable-option mindset, you unambiguously want a higher residual; it lowers your payments and increases your option value. However, car lease residuals are set by actuarial models and are not negotiable, so it's kinda moot point.
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Jun 15, 2010 14:46
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3rd party warranties are almost never worth it. I would never buy one. Take the $1750 and buy an I-bond instead.
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Aug 26, 2010 17:02
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SouthShoreSamurai posted:(I for one would definitely be interested. I don't know how to go about learning this without signing up for "career" mechanic classes. There seem to be no "common maintenance" classes.) Most of us shade-tree mechanics don't have any formal automotive education. Hell, I didn't even have any familial know-how passed down to me. (Ever walk outside your house and see your dad kneeling down on the driveway beating the poo poo out of a pop-up sprinkler with a claw hammer because he couldn't figure out how to install it correctly? I have.) You can start with a minimal set of tools and a haynes manual for your car (It's not as good as more expensive manuals, but it's a cheap and good enough for beginner stuff). Most people start with an oil change and progress to belts & brakes from there. Once you've done that, you'll get a better idea of what you're comfortable with and willing to tackle. Resources like AI or DIY posts online can make repairs that seem daunting way less intimidating.
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Sep 1, 2010 03:19
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alreadybeen posted:Doing all of your own repairs also has the tremendous cost of time. This is true, but it's generally high value you're getting for this time. Even small shops around here charge $80+ per hour of labor. Even considering that a novice isn't as efficient as a real pro, you can save a bundle of money by fixing your own poo poo. It's not for everyone, but anyone interested enough to learn can do basic maintenance.
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Sep 1, 2010 04:05
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asmallrabbit posted:The 3M rockguard actually sounds useful but again except for when i drove on gravel roads, I never had much of an issue with rock chips on my truck although it was higher up so i don't know if this is more of a concern with cars. The 3M rockguard is definitely not a scam, but you can almost certainly get it installed for much less at an auto tint shop instead of the dealer if you call around. It's not just useful on gravel roads, either. I drive on concrete freeways a lot with suvs and trucks with no wheel flaps that are very good at picking up debris from the road and throwing it at my car. It's very hard on paint & windshields. I have the clear bra but the kit I got only goes about 1/3 of the way up the hood. The paint under the clear bra is still perfect, the paint above it is chipped to hell from the daily sandblasting. The next new car I buy I will find someone to cut me a custom kit to do the full hood, fenders and A-pillars.
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Apr 12, 2011 14:26
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Jan 9, 2024 00:44
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You "admit it" up front. Dealerships make money off of financing, so they want to finance through them. You should also have a rate quote from a/your bank beforehand so you don't get ripped off.
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Mar 20, 2024 04:01
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