Bells and whistles or plain jane
- Thread starter ram_man
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I'm generally somebody who goes for all the options. I'm not a fan of a low or no-frills vehicle, but I go into the situation knowing full well the potential implications of that decision and am comfortable spending that extra amount of money. Hence you don't see me soliciting for opinion on my purchasing decisions.
There was a time, almost 20 years ago, when I was fresh out of school and had yet to find or create a situation of stable employment. I was saddled with payments for a vehicle I had a very hard time affording at the time, which was my "to school" transportation. Instead of buying something cheap, I had, under the encouragement of my parents, purchased an "almost new" (it was two years old) Explorer. It sucked fuel, drained my bank account for payments and insurance and was generally a massive burden. I was single teenager, living at home at the time, and still, it was a struggle. And when I got my first "out of school" job and my own place, and was still paying on that beast, that struggle continued until I was no longer making those payments, which was a massive relief.
So, based on what you've shared, given the lack of stability your situation appears to afford, the fact that you have children, a (broken?) marriage and no real prospect of long-term employment, I would be extremely hesitant to saddle yourself with payments again. What you can "afford" on paper now doesn't matter. Until you are in a situation where the outlook for stable income far exceeds the period for which you'll be making payments, the risk is substantial.
Now, I'm not saying you need to be able to pay cash for your vehicles or any of the other lovely BITOG financial advice that seems to accompany any discussion of vehicle purchases on this site. My two cents is entirely based on the information you've provided regarding the lack of stability with your work life, your relationships and subsequently your finances. In my mind, a payment is not something I would consider adding to that type of situation. With the insanely low interest rates (0% anyone?) available, and the potential return from investments, one can be (IMHO) better served by plopping down a decent downpayment and having payments on a low or no interest vehicle loan while the money they would have spent makes them money. However this relies on having a solid source of income with long-term stability and cash in the bank.
There was a time, almost 20 years ago, when I was fresh out of school and had yet to find or create a situation of stable employment. I was saddled with payments for a vehicle I had a very hard time affording at the time, which was my "to school" transportation. Instead of buying something cheap, I had, under the encouragement of my parents, purchased an "almost new" (it was two years old) Explorer. It sucked fuel, drained my bank account for payments and insurance and was generally a massive burden. I was single teenager, living at home at the time, and still, it was a struggle. And when I got my first "out of school" job and my own place, and was still paying on that beast, that struggle continued until I was no longer making those payments, which was a massive relief.
So, based on what you've shared, given the lack of stability your situation appears to afford, the fact that you have children, a (broken?) marriage and no real prospect of long-term employment, I would be extremely hesitant to saddle yourself with payments again. What you can "afford" on paper now doesn't matter. Until you are in a situation where the outlook for stable income far exceeds the period for which you'll be making payments, the risk is substantial.
Now, I'm not saying you need to be able to pay cash for your vehicles or any of the other lovely BITOG financial advice that seems to accompany any discussion of vehicle purchases on this site. My two cents is entirely based on the information you've provided regarding the lack of stability with your work life, your relationships and subsequently your finances. In my mind, a payment is not something I would consider adding to that type of situation. With the insanely low interest rates (0% anyone?) available, and the potential return from investments, one can be (IMHO) better served by plopping down a decent downpayment and having payments on a low or no interest vehicle loan while the money they would have spent makes them money. However this relies on having a solid source of income with long-term stability and cash in the bank.
I would look beyond Chrysler. Whats special about a Dodge Dart? I thought the car to have awhile ago was a Dodge Challenger or Plymouth Barracuda?
I had a 2000 Neon bought new. Great car. Unstopable. Glued to the road.
Dart....meh.
Get a Corolla.
Dart....meh.
Get a Corolla.
Yeah, I'm not sure why the OP keeps buying new cars. New cars are for rich people. Only about 1/4 of the cars sold each year are new, the rest are all used.
If you need financing, then you are not rich. You can join a credit union like Penfed and they have 2-3% interest rates on used cars for 3-5 years. Get something like a used Fusion that still has some of the factory warranty and get the Ford extended warranty, can be good for 8 year/125k, but if you're a mechanic you might be able to get something older and skip it.
I could pay cash for a new Camry or Accord, but prefer a used Mercedes, it was less money and I got a lot more options that aren't even available on a Camry or Accord. Used cars with high depreciation are the best bang for the buck.
If you need financing, then you are not rich. You can join a credit union like Penfed and they have 2-3% interest rates on used cars for 3-5 years. Get something like a used Fusion that still has some of the factory warranty and get the Ford extended warranty, can be good for 8 year/125k, but if you're a mechanic you might be able to get something older and skip it.
I could pay cash for a new Camry or Accord, but prefer a used Mercedes, it was less money and I got a lot more options that aren't even available on a Camry or Accord. Used cars with high depreciation are the best bang for the buck.
What is your zip code and do you want a manual or automatic?
Last edited:
Wolf,
Only rich people buy new cars ???
Only rich people buy new cars ???
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Originally Posted By: Mr Nice
Wolf,
Only rich people buy new cars ???
Sounds like another BITOG-ism.
Wolf,
Only rich people buy new cars ???
Sounds like another BITOG-ism.
Originally Posted By: Mr Nice
Wolf,
Only rich people buy new cars ???
New cars are for rich people, but poor people buy new cars all the time and it's a big financial mistake. Anyone who needs gap insurance shouldn't be buying a new car. That means that they don't have enough money for a decent down payment on a car and that they're going to be spending even more money because they don't have any money. There is some truth to the line about how the rich get richer and the poor get poorer.
Wolf,
Only rich people buy new cars ???
New cars are for rich people, but poor people buy new cars all the time and it's a big financial mistake. Anyone who needs gap insurance shouldn't be buying a new car. That means that they don't have enough money for a decent down payment on a car and that they're going to be spending even more money because they don't have any money. There is some truth to the line about how the rich get richer and the poor get poorer.
ram_man, we're very happy with our '16 Optima SXL Turbo. We bought every option they offer. My wife chose it over the Audi A4!
I would pick a 2.4L N/A Optima over a Chrysler product all day long. The Koreans have done an awesome job with this car (the designer used to work for Audi).
I would pick a 2.4L N/A Optima over a Chrysler product all day long. The Koreans have done an awesome job with this car (the designer used to work for Audi).
Originally Posted By: Wolf359
New cars are for rich people, but poor people buy new cars all the time and it's a big financial mistake. Anyone who needs gap insurance shouldn't be buying a new car. That means that they don't have enough money for a decent down payment on a car and that they're going to be spending even more money because they don't have any money. There is some truth to the line about how the rich get richer and the poor get poorer.
More truth in "The rich earn interest while the poor pay interest."
New cars are for rich people, but poor people buy new cars all the time and it's a big financial mistake. Anyone who needs gap insurance shouldn't be buying a new car. That means that they don't have enough money for a decent down payment on a car and that they're going to be spending even more money because they don't have any money. There is some truth to the line about how the rich get richer and the poor get poorer.
More truth in "The rich earn interest while the poor pay interest."
Originally Posted By: Quattro Pete
Originally Posted By: ram_man
Originally Posted By: Quattro Pete
Originally Posted By: ram_man
The dart is also the only car in its class that I really like . You can get a stick in any trim level, they look nice drive nice ect. No other small car does all that in my opinion.
Golf?
The golf is nice I forgot about them but Volkswagens reliability and complexities to work on steer me away. If it wasn't for that I'd consider one.
So you think Chrysler will be more reliable?
By orders of magnitude!
Originally Posted By: ram_man
Originally Posted By: Quattro Pete
Originally Posted By: ram_man
The dart is also the only car in its class that I really like . You can get a stick in any trim level, they look nice drive nice ect. No other small car does all that in my opinion.
Golf?
The golf is nice I forgot about them but Volkswagens reliability and complexities to work on steer me away. If it wasn't for that I'd consider one.
So you think Chrysler will be more reliable?
By orders of magnitude!
Get a Fiat 500 POP
Originally Posted By: 440Magnum
Originally Posted By: Quattro Pete
So you think Chrysler will be more reliable?
By orders of magnitude!
Chrysler seems to be on par or worse than VW in most of the recent industry rankings. Granted, I don't know how these rankings translate into real world experiences. I have never owned either brand.
Originally Posted By: Quattro Pete
So you think Chrysler will be more reliable?
By orders of magnitude!
Chrysler seems to be on par or worse than VW in most of the recent industry rankings. Granted, I don't know how these rankings translate into real world experiences. I have never owned either brand.
Why does reliability even come into question with the OP? He'll have a new car in less than 14 months!!!
Originally Posted By: surfstar
Why does reliability even come into question with the OP? He'll have a new car in less than 14 months!!!
LOL! Good point.
Why does reliability even come into question with the OP? He'll have a new car in less than 14 months!!!
LOL! Good point.
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