I need a new car

ESP47 said:
Just because they're smart businessmen doesn't mean they're making a smart financial decision. They probably make enough money as it is so they can justify spending the extra cash to always have a newer vehicle. It's the guys that are closer to paycheck to paycheck that are screwing themselves.

No one in this society wants to save their money and buy their own things anymore. A new car should only be for people that make a lot of money and can afford it. They have it set up so anyone can buy a new car and sure enough pretty much everyone owns a new car these days. The only problem is that it straps you financially for 5-6 years so most people are paycheck to paycheck because of it. Then once they get close to paying it off or get it paid off, they immediately trade it in for something new and repeat the cycle of stupidity over again. Unless you're well off financially, buying a new car is a suckers move.
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That is essentially what I've said in this thread. THough, I agree with sturg or whoever in that it's not as big of a difference as people make it seem.
 
Paying off a car is the way to go. It is this frame of mind that has America broke.

BRule said:
To each their own but I have no interest in keeping a car for 7+ years......If I'm going to pay 300-500$ a month to finance a car for 5 years and then just sell it in the 6th year....why wouldn't I lease the car for $100-$200 less and keep getting a new one every 2-3 years.....assuming you don't mind a car payment/can afford it.

Also....you're giving up your comfort in a vehicle you'll drive EVERY DAY, FOR YEARS......over 2-3$ a day or 80$ a month or 20$ a week. That just doesn't make sense to me...
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zitothebrave said:
Yes I would. And I was going on a relatively conservative guestimate. Could be saving more.

If I use Edmond's true cost to own calculator they have the Prius C at 34,947, that's factoring in depreciation, insurance, financing, etc. The Tacoma is at 46,864, pretty much the entire difference is an estimated savings of around 10K in fuel with an estimate of 15K miles driven a year. If this is a long term investment and the initial cost is close to the same, why wouldn't you take something that pays out much higher?

By the way the 3 dollars a day thing is how sales people convince someone to buy **** they dont' really need. Hey if you get this GPD unit it's only 15 more bucks a month, 50 cents a day. Not telling you of course that you're spending 900 bucks for something you really don't need, but instead hooking you on the "ppennies a day" problem is those pennies a day quickly add up to several dollars.
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What Tacoma were you looking at, one with gold plated rims? Pretty sure you can get a Tacoma for 20-25k
 
BlackwaterPark said:
Paying off a car is the way to go. It is this frame of mind that has America broke.
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Not really....As giles and I have said, if you don't want to have a 10 year old car and you can afford a car payment then leasing is the way to go. I understand not everyone can afford or wants a car payment their whole life but for those who don't mind it/can afford it....and want a new car every 3 years, leasing is cheap. Toyota pays for all of your maintenance, I know a few others do as well....so you don't put a dime into the car other than your car payment. You'll never have to worry about spending 3-5k on some major job because your car is out of warranty, or worry about when your car is going to die and you get nothing for it.

And to Zito, the reason dealers like to lease is....it keeps you coming back every 3 years, it's not because they rape you on a lease. Dealers make no money on leases, the reason they do it is, they can count on you being back in 2-3 years...assuming you don't buy out your lease.
 
BRule said:
What Tacoma were you looking at, one with gold plated rims? Pretty sure you can get a Tacoma for 20-25k
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That's true cost to own which are the costs associated with the car after purchase. Like insurance, maintenance, depreciation and gas. Think I made that pretty obvious in the post.
 
BRule said:
Not really....As giles and I have said, if you don't want to have a 10 year old car and you can afford a car payment then leasing is the way to go. I understand not everyone can afford or wants a car payment their whole life but for those who don't mind it/can afford it....and want a new car every 3 years, leasing is cheap. Toyota pays for all of your maintenance, I know a few others do as well....so you don't put a dime into the car other than your car payment. You'll never have to worry about spending 3-5k on some major job because your car is out of warranty, or worry about when your car is going to die and you get nothing for it.

And to Zito, the reason dealers like to lease is....it keeps you coming back every 3 years, it's not because they rape you on a lease. Dealers make no money on leases, the reason they do it is, they can count on you being back in 2-3 years...assuming you don't buy out your lease.
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The average car payment is $450 a month. If from age 20-60 you lived car payment free, and invested that $450 a month, you could retire with 4.5 million dollars....Just because you can afford a payment, doesnt mean you should buy something. It is this mindset, like I said, that causes 75% of Americans to live paycheck to paycheck.
 
BRule said:
And to Zito, the reason dealers like to lease is....it keeps you coming back every 3 years, it's not because they rape you on a lease. Dealers make no money on leases, the reason they do it is, they can count on you being back in 2-3 years...assuming you don't buy out your lease.
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Car prices are ridiculous. Car dealerships are assholes.

They want me to trade my car in for 11k....but they are selling the same car with higher mileage for 15-17k...

I asked some of those assholes why there was such a large gap in the price they pay for the car and the price they sell it for. I was told it was for inspections and repairs and Im paying for piece of mind. They only make about 1k on used cars.

LMAO and die...please.
 
BlackwaterPark said:
The average car payment is $450 a month. If from age 20-60 you lived car payment free, and invested that $450 a month, you could retire with 4.5 million dollars....Just because you can afford a payment, doesnt mean you should buy something. It is this mindset, like I said, that causes 75% of Americans to live paycheck to paycheck.
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And a lease payment on a sedan is 200-250$ a month, saving 200$ a month or more...there you go, invest your heart out.
 
GMAJAH25 said:
Car prices are ridiculous. Car dealerships are assholes.

They want me to trade my car in for 11k....but they are selling the same car with higher mileage for 15-17k...

I asked some of those assholes why there was such a large gap in the price they pay for the car and the price they sell it for. I was told it was for inspections and repairs and Im paying for piece of mind. They only make about 1k on used cars.

LMAO and die...please.
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Of course dealers are assholes, of course they are going to buy your trade for 10k and sell it for 14. It's what they do
 
BRule said:
And to Zito, the reason dealers like to lease is....it keeps you coming back every 3 years, it's not because they rape you on a lease. Dealers make no money on leases, the reason they do it is, they can count on you being back in 2-3 years...assuming you don't buy out your lease.
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BUAHAHAHAHA

No dealers love leases cause you pay more money than the car is worth, the hide fees into their cost and they keep you on perpetual purchase. Seriously there's a reason they love leases and it's not cause they love selling used cars.
 
A car is a heavily depreciating asset. I'm not a fan of paying for something at 30 outright then four years later its only worth 10.
 
zitothebrave said:
BUAHAHAHAHA

No dealers love leases cause you pay more money than the car is worth, the hide fees into their cost and they keep you on perpetual purchase. Seriously there's a reason they love leases and it's not cause they love selling used cars.
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So my friends family who has owned a large dealership for 50 years has no idea what they do and don't make money on?

Interesting
 
BRule said:
So my friends family who has owned a large dealership for 50 years has no idea what they do and don't make money on?

Interesting
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They're either exaggerating or doing it wrong. The whole purpose of a lease is to get someone to pay MSRP or higher with proper depreciation.
 
And the way they make money is a few ways:

Selling you that BS that everyone gets offered, alarm, remote start, etc

When you bring your lease back, assuming your buyout is 15k, they sell it for 18-19

And then when you lease again.

Dealerships make all their money on used cars, financed cars and service....leasing is last on the list
 
BRule said:
And a lease payment on a sedan is 200-250$ a month, saving 200$ a month or more...there you go, invest your heart out.
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His logic is flawed, as obviously you are not going to find 1 car to last you 40 yrs so you'll have to buy at least 2-3 more cars during this span. But even so, if you're saving 200 bucks a month on a lease, after 5 yrs, I'll own my car outright, and you'll still be rolling 200-250 bucks a month until you die. So it'll even out. Over time. The difference is, my truck will still be worth 5,000 or more after it's 10 yrs old. And I can put that towards a trade in on a new/newer car and make my monthly payments close to the same as your lease payment.0
 
BRule said:
And the way they make money is a few ways:

Selling you that BS that everyone gets offered, alarm, remote start, etc

When you bring your lease back, assuming your buyout is 15k, they sell it for 18-19

And then when you lease again.

Dealerships make all their money on used cars, financed cars and service....leasing is last on the list
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Leasing is financing.
 
BlackwaterPark said:
The average car payment is $450 a month. If from age 20-60 you lived car payment free, and invested that $450 a month, you could retire with 4.5 million dollars....Just because you can afford a payment, doesnt mean you should buy something. It is this mindset, like I said, that causes 75% of Americans to live paycheck to paycheck.
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What the hell kind of investment gets you $4.5 million on like $200,000 some odd thousand dollars?
 
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