03-05-2017 03:44 PM
Thank you all for your input. I am going to share with my husband. We will definitely not make an uninformed decision and learn as much as we can and look at the numbers. There is a lot of ins and outs.
He hasn't even decided yet what make/model, but some of the names he is throwing out is scaring me.
@Annabellethecat Yes, Acuras are great. I purchased one that was (used/leased) and owned it for 11 years and probably would still be driving it today if the transmission didn't fail at 49,000. After fixing I traded it for a Nissan Maxima. No problem with the Maxima, but my heart still yearns for the Acura. Just couldn't get the deal I wanted.
@151949 The Buick Enclave is another one he is considering, along with a Cadillac XT5, then he started talking about a Jaguar and Range Rover and I started getting really nervous. I said to him, "hey, come back down to earth, we don't live that kind of life style."
03-05-2017 03:54 PM - edited 03-05-2017 04:03 PM
@Allegheny I know what you mean -- they start talking cars and you feel like they need a Tony Denozo smack on the head!
Since we get the GM retiree discount we ALWAYS buy GM - for that reason we got a GM credit card. We get points for using the card and those points turn into $ off. We use our GM card for everything. Gas , groceries, eating out, we pay our tithe to church on it and even the newspaper and our utilities. We add up those points pretty quickly and always have several thousand dollars off on our car purchases.
If we had to pay for & insure 2 cars we would not be able to afford the car we have, but since we chose to go to just one vehicle we save a ton of money - esp. insurance. We haven't found one car in retirement to be too much of an inconvenience. One time I did call uber to go to a doctor's appt when DH needed the car.It was expensive but not near as expensive as owning a second car.
03-05-2017 05:02 PM
@Allegheny It's not like I know but my son-in-law did all of the research, everything when I was looking at cars. This last one I knew I wanted another Acura.
My son-in-law said, "What color"? I said, "Anything but a red one (the color bright red)". He did everything on line (looking for a color, prices, you name it).
When he decided on a good price he called the place where I'd bought my other Acura and they matched the price and even came under because I was a returning customer. My friend is the manager of the repair department (whatever it is called) so I knew I'd never pay for oil changes, etc, (which helps) plus he always gives me a loaner for however many days it takes me to get back there...Ha!
Anyway, my son-in-law said you can go on line and find out what people located all around you are paying for the same car. He said you can find out everything on line now. He would have bought the car on line if I had not wanted to go to my friend's dealership.
What people don't realize is there are so many incentives given to the dealers from the car companies they make pretty good money no matter what they sell you the car for. I was just going to pay cash for the car but the dealership said if we finance it for 45 days we'd pay even $1,500 less than the agreed price. We decided to do that. At the end of 45 days (no finance charges), I just paid cash for the car. I know it doesn't make any difference to the dealership but I'm amazed these days that places don't knock off money for paying cash. They'd rather you finance the car. I just don't like messing with paying things on time. Most of my bills come out automatically or I'd forget about them.
My late husband used to loan money to car dealerships and they gave him a dealer's license. He would go to Pennsylvania to the car auction (where you can get new cars never even driven) but you need to have a dealer license. He'd bring home a car and I'd drive it for a month or two (many different kinds and makes, etc) then we'd sell it for what we paid for it (they'd get a good deal and we never had trouble selling them. He just enjoyed doing it and he'd go with his friends. I'd drive Mercedes some were very, very expensive cars. It helped me learn what I really did not like (Mercedes was one (the SUV)) I really didn't like the changer in the back.
Cars are just so overpriced these days. I hope it helps you to know you can find out prices in your area on the computer. I never knew any of that. Were it not for my son-in-law I'd just go and buy one and pay way too much money.
I remember the old days when it would drive me crazy when the salesman would go in the back (to his boss) about price and you'd go back and forth. I would say, "Just give us a price". I have no patience for this kind of stuff!
Good luck and please come back and let us know what you got (not the price) just if you are happy about it.
Remember in the old days when someone got a new car everyone would come out and look at it (the neighbors). They were genuinely happy for you. They wanted to ride in it, etc. That was in the 50's. My goodness how times change.
I guess it's the second biggest thing we all buy/lease, etc except for our houses, isn't it?
Take care, Annabelle
03-05-2017 06:17 PM
They don't charge you for dings only major damage and if that insurance should pay for that. The residual value, years ago referred to as balloon payment, can be financed if you love the car or decide to keep. Unless you buy a high end value keeper car at the end of 5 years you have nothing. No car payment but could become a money pit. When you leave the lot your car has depreciated and every year thereafter.
Really weigh all the options.
03-05-2017 06:21 PM
I always buy a vehicle because when I pay it off I have many, many more years of no car payments. It is the smartest thing to do - just think what you could do with the extra money.
And if you like the idea of getting a new car every 3 years- just trade in your purchased car for something new! Even though it depecites you at least own something after all is said and done.
I would never lease- it's money out the window.
03-05-2017 06:23 PM
I love leasing. Yes -- it is more expensive to lease. BUT -- if you get a new car every 3 years -- as I do -- it is ridiculous to buy. With leasing the car is always under warranty so there will be no large repair bills. Right now we have two Lexus ES350s. One we bought when it came off lease -- and we are leasing a new 2016. A few weeks ago I was driving out of the garage with the new car and stupidly got the front caught on the snow blower and managed to pull out the front end. It looked horrible and I was hysterical when I saw it but fortunately the damage was all aesthetic and only needed one large new piece to fix it. I said to my husband that I am SO happy that we are leasing because there will be no issue of trading it in at some point having had an accident. The decision to lease vs. buy totally depends on your own personal needs. How long you plan to keep the car -- etc. As I said -- I am well aware that leasing is more expensive -- but for my needs -- and given depreciation -- it makes the most sense.
I should add that I hate -- hate -- hate owing anybody money. We have actually done "one pay" leases in the past where you pay the entire lease upfront. The money for the lease is not money we would invest anyway and with interest rates on checking/savings being as low as they are -- it was worth it for me to sleep better at night knowing that I did not have an outstanding bill. We did not do it with this car because for some reason having to do with taxes the total of what we paid over the three years would have increased.
03-05-2017 06:25 PM
Leasing is a scam. So if you are financially stable, just buy outright.
I buy cars, no payments. Another scam, financing a car. Even at zero interest.
I agree with you.
I'm not a fan of leasing. You pay and you pay and you pay and at the end of the lease you have nothing.
How is financing a car at 0% a scam? ??
03-05-2017 06:37 PM
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