How do you scratch the new car itch?

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Originally Posted by supton
More than I want to spend, of course, but I'm guessing I could swing it (if I cut my 401k in half I'd still get company match and could "afford" this while still sitting on a large emergency fund). .


RED FLAG.

Plus increased fuel and insurance costs. In Az registration cost is tied to value, is it there too?

Minus the costs of the 2 you'll eliminate.
 
Originally Posted by Imp4
Originally Posted by supton
Originally Posted by Imp4
By thinking about all the hours I'd have to work to pay for the darn thing.

I'm salaried and because I short-changed my 401k for so long, I'm stuck working for about another 25 years. After being gone from home for 11 hours (2hr commute + 8hr day + 1hr lunch), and then I think about putting in extra time at home on projects... I really don't feel like "having" to fix my beater (again).

Short changing your 401k and buying new cars is the perfect plan to ensure that you work 'til you're 70....

Change your behaviors and you change your life.

Good luck!!!
cheers3.gif


Point taken. But. My 401k growth (on its own) has hit the point where it equals what I could add. It'd still grow quite nicely if I cut back my contribution to the amount that gets me all the "free" money from work.

Originally Posted by Railrust
Good thread, I developed one very similar to it last year.

Here's the thing, you just get sick of that old car. You itch for something else...then that old car needs some work, you put it off...then it needs more. Then you staring at $4000 in repairs and you think...ok, I've got almost 200,000 miles on this thing, it needs some work, plus it's consuming oil...now is a great time to bail and get that new car! Yay! Then you end up spending 4 grand on sales and excise tax. Then you insurance goes up. Then you get another $700 dollar excise tax bill next year (after that new car smell has faded away).

Now you're two years into this thing...it's got a few scratches now, a couple unexpected repairs of its own (and you're still shelling out $500-$600 excise tax bills). The payments are getting real old. You look in the classifieds and the vehicle you paid 40k for is selling for 26k...I just lost $14,000 grand! And yeah I like the car, but I don't really love it. Heck, I'm not even sure it's all that much better than my old one that needed $4,000 in repairs! And now my "new" one needs some of those very same repairs. And I'm getting sick of counting all the new scratches and dings people put into the doors while I'm food shopping. Ugh.

And hopefully that^^^^^ will keep me from selling my "new" truck I bought a year and a half ago...to go out and buy that "new" truck...which won't be "new" five seconds after I drive off the lot.

I was looking at $4k in repairs on my last car... but it had over 300k and there wasn't many VW diesel mechanics around. And I had dropped $4k into two years prior. My truck I've had for six years but it just doesn't fit my needs, and is 10 years old. I can't figure out my car, I've only had that for 3 years now (but it's 21 years old) so why would I want to trade out?

"Everyone" on this board insists that an automatic is toast after 150k and all mine are past that. That worries me! [Argues against new I know.]

I have been trying to buy and hold as long as possible, but there's a point where one hits where it might be--if not cheaper then wiser--to move on.
 
Originally Posted by AZjeff
Originally Posted by supton
More than I want to spend, of course, but I'm guessing I could swing it (if I cut my 401k in half I'd still get company match and could "afford" this while still sitting on a large emergency fund). .


RED FLAG.

Plus increased fuel and insurance costs. In Az registration cost is tied to value, is it there too?

Minus the costs of the 2 you'll eliminate.





I do believe so, but it's been too long since I've bought anything of value.

In the end I'll probably hold off, but sometimes I just need to talk these things out--all my friends just buy new every so often, so it's not like I can bounce ideas off them.
 
Just go drive a new Ridgeline or whatever else suits your needs. You may not even like them.

I realize that 90's Camrys and Crown Vics are held in high regard around here, but its ok to move on.
 
A 2005-06 Camry 4 cylinder would be a nice upgrade over the 1999 Camry. A 99 is getting pretty old and prob time to move on. I remember when you first bought it and posting about it. If you want to go nicer than that then the sky's the limit.
smile.gif
 
Originally Posted by SatinSilver
A 2005-06 Camry 4 cylinder would be a nice upgrade over the 1999 Camry. A 99 is getting pretty old and prob time to move on. I remember when you first bought it and posting about it. If you want to go nicer than that then the sky's the limit.
smile.gif


2AZ-FE? Dunno about that... but the 2AR-FE has been good in the wife's '11. The trans in that has been so-so though.

Originally Posted by wog
Do a lease

I could but what else would I drive? I do about 30k/year.
 
Originally Posted by MCompact
... I usually buy a "new to me" CPO car; that way depreciation is my friend. However, I'm seriously considering picking up a 2019 Stinger GTS AWD ...

The silver lining is that I can nab a GTS for $12k off of MSRP- or a bit over 1/3 the price of either the M5 or the E63 S.



There is a reason why KIA Stinger's are so heavily discounted ... wrong EMBLEM.

Decent car, but "just an expensive Kia ... " to many people.
 
Make a payment to yourself every month for a year or two and then buy something cash. Hertz rental cars is a good place to look. I just saw a 2017 Yaris hatchback for $8,500 with 45k miles this morning. I'd buy something like that if I needed to replace my CRV. I guess you have to ask yourself what matters more? I'm 6 years away from military retirement and will buy my first house. My end goal is to have a 15 yr mortgage but pay it off quicker if possible. I am 32, about to be 33, and I don't plan to work a day after 60. What is your long-term plan? If you still have a mortgage payment my advice is keep what you have or buy something else cash and make principle payments to your mortgage to pay it off quicker.
 
Originally Posted by madRiver
Pay cash for it.


Not when they are giving cars loans for free.

A conservative bond fund and a GVT moneymarket blend will still five you 3-4% annual in an IRA
 
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Originally Posted by supton


Originally Posted by wog
Do a lease

I could but what else would I drive? I do about 30k/year.


I just saw the 2 hour commute you posted otherwise I wouldnt have even made the Murano lease tease
smile.gif


I had a 1 hour 10 min to Wilmington Ma one way.

That was my limit.

Now I just quite working last November Im putting 7K a year on the car so I can do these short mileage give-a-way leases.

I you recall I just got the Jetta and now its done in 10 months!

I'm thinking VIntage restored truck or car next.

Don t need the commuter car.

Bradley GT glass job on the classic VW pan?
 
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Originally Posted by geeman789
Originally Posted by MCompact
... I usually buy a "new to me" CPO car; that way depreciation is my friend. However, I'm seriously considering picking up a 2019 Stinger GTS AWD ...

The silver lining is that I can nab a GTS for $12k off of MSRP- or a bit over 1/3 the price of either the M5 or the E63 S.



There is a reason why KIA Stinger's are so heavily discounted ... wrong EMBLEM.

Decent car, but "just an expensive Kia ... " to many people.


I realize that, but knowing Albert Biermann played a major part in the design of the Stinger means more to me than the badge- although I do wish that it was significantly faster than my 2er.
 
Originally Posted by Coastie05
Make a payment to yourself every month for a year or two and then buy something cash. Hertz rental cars is a good place to look. I just saw a 2017 Yaris hatchback for $8,500 with 45k miles this morning. I'd buy something like that if I needed to replace my CRV. I guess you have to ask yourself what matters more? I'm 6 years away from military retirement and will buy my first house. My end goal is to have a 15 yr mortgage but pay it off quicker if possible. I am 32, about to be 33, and I don't plan to work a day after 60. What is your long-term plan? If you still have a mortgage payment my advice is keep what you have or buy something else cash and make principle payments to your mortgage to pay it off quicker.

My long term plan is to live for a long time...

We just bought our second house and the wife insists that she will get a full time job in a few years, once the kids can drive themselves around. For now we have a couple months shy of 30 years left on the mortgage; we aggressively paid on our prior house, got close to paying it off, and took a bath when we sold it. In some ways we are jaded and have stopped caring about "getting ahead" and until she is working, just plan on paying on a 30 year payoff. And enjoying the last few years we have with the kids (which need driving all around! my stay at home wife travels 25k/year).

I'm 43 and I hate to say it but I'm starting to feel entitled. I've tried to talk myself into a Yaris and then a Prius C for my commute (which is 55 minutes each way according to my phone); it's all highway and all of 54 miles according to Google. A Yaris (or a C) might last a long time but I'm afraid I'd be right back to where I am now after a few years, and others on this site talked me out of it each time. The last time I shopped I got my Camry and while it's been wonderful, I wonder when it's time to move on. The Camry is easy to repair and I feel like I should keep it as a spare vehicle, but I'm not sure I want to pass it down to any new drivers (call me a nanny if you want but I've grilled my kids and confirmed that they have no desire to drive, unlike my generation, and so I'm starting to wonder how many safety nannies I want in the thing carting around my 16 year plus investment of time and money).

I don't feel comfortable working on my Tundra anymore, the driveway has a slope to it now and it's just too big all around. This past fall I could barely lift the wheels into the bed to take to a shop to have my snows installed. I like the simplicity of the two vehicles and would miss that, but neither is new & reliable anymore.

In many ways I'm beaten by middle age. I've accomplished the goals I set out for in life, found some disappointing, some satisfying, but all have been accomplished, and now am settling for whatever makes my life easier. The only long term plans I have now is retirement and death--getting new toys is all that is left that doesn't take 20+ years of waiting.
 
There are no guarantees in life.

Being retired and being able to do whatever you want every day, is hard to beat, IMO. If delaying buying a new vehicle means you can retire sooner, I'd advise that.
 
The commute gets me, I don't have but 12 minutes, so my downsize plan would be about $1 to 4k and a Corolla, reliable, easy to work on, and parts availability. With the commute I'd be looking at the 4 cyl Camry or Rav4. I'd get a trailer or rent something for hauling when necessary. Of course, I'd rather budget a used car and update all the service work then have a car payment, there's lots of satisfaction and just having something interesting to do that appeals to me as much as having a new car might.
 
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