New car for the fiancee

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buster

buster

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We've decided it was best for her to trade in her 2000 Cabrio. This was her second one. It has about 68k miles on it and it has had so many repairs. This is one of the worst cars I've ever seen in terms of repairs. Engine is fine, nothing wrong there, but everthing else breaks. (Anything electrical/waterpump/windows/airbag/fuel injectors etc). All have been replaced. Horrible car. Nice looking and good engine, but thats it. She has sunk so much money into this car that it's time now to get a new one.

She is going to buy a Mazda 3 (2007). She paid $300 over invoice and got a good finance rate. Another great thing this dealer is throwing in is FREE oil changes for 10 years. Oil is changed every 7,500 miles. Car has a 8yr 100k pwtrn warranty. I was with her when we test drove it and also the new Civic. We both liked the 3 better.

.....so my oil decision for this car has already been determined by the dealer. Any API SM oil every 7,500 miles for free is tough to beat!
grin.gif
 
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Why not used? Why more debt? Just makes no econimic sense at this point to me. Did she pass the bar? Why not wait for results?



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Pablo, the VW isn't paid off yet. Her monthly payment for the new Mazda will be $50 more per month. She has been spending more than $600 a year on repairs for this car. I believe she has 2 years left to pay it off. Dealer is giving her a good price for the trade in. I think it does make sense. We've been going back and forth on it but she can't keep forking out large chunks of $$ for these repairs. The car is truly a money pit. Any thoughts on why it wouldn't be worth it?
dunno.gif
 
Warrantee's are rarely used for japanese cars. Aftermarket warrantees especially are a rip-off.

BTW congratulations Buster.

You will have to teach her to say no to all of the add-on services they will try to sell her with the "free" oil changes.
 
When she brings it in for an oil change, they will call her for additional, sometimes needless repairs/replacements.

Change your own oil instead. That way you know it's not a on-sale hypothetical Meijer-housebrand going in that engine - not a wipe-down of the filter exterior instead of a filter replacement. Instead of oil changes, I would ask for something else... like the next upgrade stereo (or) remote start with two-users keypads.
 
“Pablo, the VW isn't paid off yet.”

I’m not sure what debt is left but sell it and pay loan off. Mazda dealer will give you how much? Just enough to pay loan off or true value? Then how much left for a down payment? I actually need more information here.

“Her monthly payment for the new Mazda will be $50 more per month.”

IMHO this is not great monetary thinking. If you are forced into a debt position, the debt amount and interest rate (and time) are what you should concentrate on – not this payment vs. that payment.

“She has been spending more than $600 a year on repairs for this car.”

This is relatively high, but a LOT more than interest alone for maybe 3 months.

“I believe she has 2 years left to pay it off.”

Well such is time debt. How much $ left?

“Dealer is giving her a good price for the trade in.”

See above – how much?

“I think it does make sense. We've been going back and forth on it but she can't keep forking out large chunks of $$ for these repairs. The car is truly a money pit. Any thoughts on why it wouldn't be worth it”

Well as I stated – can’t you guys keep it limping until she pays her old car off? Or at least find out if she passed the bar? I’m not trying to be an a~~ - I’m just “life experienced” in this khrap and trying to help you - read some of the books on the thought patterns of accumulating wealth. A car is a tool – if you need to borrow money for the tool, then so be it. But borrow the least amount, for the lowest rate, for the shortest amount of time – it does not sound like this is what you are doing, that’s all.
 
Pablo, I love your financial thinking - it echoes mine very much. I want to get a Mazda3, but will wait a couple more years and buy one used. My Mazda MX-6 still has some miles left; its only at 212k
laugh.gif


buster, you left out some important stuff...engine 2.0 or 2.3? 5spd auto I'm assuming for the lady. Hatch or sedan? ...and color?
 
Ok, here is some more info. I realize I didn't give you enough but I was lazy.

Obviously selling her car privately she will get more. KBB has it at $8k. She owes $6,500. The dealer is giving her $6k for the car. So she eats $500. The car needs right now a $500 fix for the airbag.

The car is the 2.3 5spd auto, 4 door sedan, black fully loaded other than leather. $400 over invoice for the car. 4.9% for 60 months.

The problem here is the repairs to the VW. If it were any other car, believe me, we wouldn't be thinking of buying another car. However, this car is just a POS and she will spend at leat $1,000 this year for repairs. It's just not worth it. IMO.

BTW, used 3's have good resale values and to be honest, their wasn't that many we came across that were priced very well IMO.

*I can't even count the number of people I know that have had so many issue with VW's. I will NEVER buy one. I think they are nice cars, and actually fairly refined but the mechanical reliability is so awful. Having to keep coming up with $500 here and there for repairs is just ridiculous.
 
VW's are nice to lease.. I would never own one.

My father has an '04 Passat 4motion. This is his 2nd 3-year lease, and never had any issues within that time-period.
 
Clearly, the love is lost for the VW; I'm sensing any reasonable financial scenario to get rid of this thing may not "add up" perfectly, but there is no $$ for piece of mind.
 
Yeah - financially it looks lousy......oh well. So basically the future wife/you are borrowing more than the car will be worth. Ouch.

Bernard - I've been married for 22 years. My wife is perfect. I'm not.
 
The 3 is a good choice, I think you will like it. My sister has a 2006 model. It has had a couple of small quirks; the radio sometimes resets itself to 12:00, and it stalled once, but otherwise it has been a great car. It is very fun to drive and has very good fit and finish.
 
Quote:

Obviously selling her car privately she will get more.

*I can't even count the number of people I know that have had so many issue with VW's. I will NEVER buy one. I think they are nice cars, and actually fairly refined but the mechanical reliability is so awful. Having to keep coming up with $500 here and there for repairs is just ridiculous.

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I agree you should sacrifice whatever you must to get out from under that VW. I hope that posting your experiences about VW will keep other people from making the same mistake.
I just wanted to point out that selling said car privately could be a major hassle and endless wait for that one gullible customer wanting your used Cabrio. Maybe the KBB value is for those cars that actually sold, while there are countless unsold others not accounted for in the KBB average (like unemployment figures).

PS. Why not the Mazda3 Hatch?
 
Quote:

We've decided it was best for her to trade in her 2000 Cabrio. This was her second one. It has about 68k miles on it and it has had so many repairs. This is one of the worst cars I've ever seen in terms of repairs. Engine is fine, nothing wrong there, but everthing else breaks. (Anything electrical/waterpump/windows/airbag/fuel injectors etc). All have been replaced. Horrible car. Nice looking and good engine, but thats it. She has sunk so much money into this car that it's time now to get a new one.

She is going to buy a Mazda 3 (2007). She paid $300 over invoice and got a good finance rate. Another great thing this dealer is throwing in is FREE oil changes for 10 years. Oil is changed every 7,500 miles. Car has a 8yr 100k pwtrn warranty. I was with her when we test drove it and also the new Civic. We both liked the 3 better.

.....so my oil decision for this car has already been determined by the dealer. Any API SM oil every 7,500 miles for free is tough to beat!
grin.gif


Click to expand...


My VW Jetta had a rock-solid engine and transmission. Never any problems. However electrical problems drove me up the wall. I did drive it for over 200K though.

I'm now on my second Mazda and both have been very good cars and very trouble free. With my 2001 626, i have had it repaired under warranty twice in the 5 years i've owned it. Both were suspecsion related (new ball joints and new sway bar bushings replaced last year). So far no electrical or engine/transmission problems at all (knock on wood).

I have tried many oils but seem to like motorcraft and OEM filters best.

If i were to buy a new car today, the Mazda3 would be my first choice. Then again, i plan on keeping my 626 for a while to come!
wink.gif
 
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Congrats on the new car.

I have to say one point though. $600/year in repairs is not pleasant but not horrible either especially if car is paid for. Thats only $50/month.
 
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