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Alternative to Unaffordable New SUV? #5362401 02/28/20 12:24 PM
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Fitz98 Offline OP
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I have 3 vehicles. 04 Suburban, 98 Expedition and an 04 Sentra as a backup. About 150k on the Suburban, well over 200 k on the other 2.
My wife likes the Expedition. It is high, big and we use it to tow our boat and she likes the short wheel base plus the short wheel base fits in our driveway with the other 2 and the boat. She feels safe in it and my son likes the extra room. The Suburban is my work truck.
Last month, I dumped a 1000.00 into the Suburban for a fuel pump and another 200 for an alternator, now the AC is acting up.
Recently I put a few hundred into a brake job and while servicing the rear brakes, I see the rear axle seal needs replacing, about 250. I put about 1000.00 a few months ago on a cooling system failure and inserts in the sparkplugs and new plugs and boots. Non of this includes all the hours I put into it. A few years back, I had a 90k mile engine dropped in, I have kept all the fluids and filters maintained since I have had it and replaced transfer case bearings and forks. New Michelin tires, new calipers, shocks, rear suspension components 10 years ago, front suspension drivers side, interior is clean and leather is in great shape still.
The Nissan doesn't eat much, just needs brakes.
All vehicles need new paint on horizontal surfaces.
I foolishly thought I might be able to get a new full size SUV for 600.00/month to replace the Expedition so I could stop dealing with the breakdowns. That is not even close to enough.
My outlook has always been the same...cheaper to keep fixing what I have but every time I think I have it fixed, something else pops up...but I do own it and fix it as it breaks.
I really don't have much more than 500.00 - 600.00/month to work with and need a high SUV for towing and launching my boat.
I am nervous about getting into payments, since I went through a repo once on a vehicle I bought when things were good, but before paying it off, I fell on some hard times and missed payments.
Any ideas or advice? Concerned about getting into another used vehicle, thinking it will always be in need of something, in which case, why not just keep what I have?

Re: Alternative to Unaffordable New SUV? [Re: Fitz98] #5362410 02/28/20 12:44 PM
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Lolvoguy Offline
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To be totally honest if I were in your shoes, I'd start to question my motives and reason for having so many vehicles.

"Do I really need an SUV big enough to tow a boat? Do I still enjoy having a boat?...is there other, less costly hobbies I've been considering that would allow me to downsize to only 2 (or 1) vehicle(s)?"
Also....have you considered simply renting a boat when you feel the need to be on the water?

Those are only some of the things I'd consider.
2cents


06 Lexus IS350- Wife
88 BMW 325is- Mistress
Say "no" to Turbo!
Re: Alternative to Unaffordable New SUV? [Re: Fitz98] #5362413 02/28/20 12:47 PM
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RhondaHonda Offline
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How big is this boat? How much does it weigh?

$45,000 for 84 months at 2.9% interest is $593 a month. The cheapest Yukon XL at the big local dealer here is $56,369. You are in the ballpark with a reasonable down payment and trading in the Sentra and Suburban. I am not sure what your credit looks like with the repo so the rates may vary. They are doing 0% for 60 months which probably doesn’t work with your payment amount.

https://www.laurabuickgmc.com/Vehic...Edition-Collinsville-IL/3502774583#close

Last edited by RhondaHonda; 02/28/20 12:54 PM.

2019 Ford Raptor
2017 Corvette Grand Sport
2017 Yukon XL Denali
Re: Alternative to Unaffordable New SUV? [Re: Fitz98] #5362423 02/28/20 01:00 PM
Joined: Jan 2013
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WyrTwister Offline
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Fact of life . You are going to pay , one way or another . Either car payments or repairs .

Stop looking at what you want and look at what you need . Or have to have .

The boat is a hole in the water that you pour money into .


Wyr
God bless
Re: Alternative to Unaffordable New SUV? [Re: Fitz98] #5362426 02/28/20 01:04 PM
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FT92 Offline
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to me there isn't a truck or suv that is worth the money they ask for....i'd rather put some money into a vehicle every so often then be stuck with payments

Re: Alternative to Unaffordable New SUV? [Re: Fitz98] #5362435 02/28/20 01:21 PM
Joined: Dec 2011
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BISCUT Offline
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$600 a month for years is nothing to sneeze at. Just me but insurance on 3 vehicles (at least here in NY) is costly right there. I have 2 vehicle and that rough enough. Outside looking in appears ditch the boat (they are costly anywhere!) and go new truck or be ready for a used truck and possible repairs down the road.


2015 F150 Lariat M1 5-30 EP FRAM Ultra(44k)
2017 Sub OB M1 5-30 EP FRAM Ultra(74k)


Re: Alternative to Unaffordable New SUV? [Re: Fitz98] #5362436 02/28/20 01:21 PM
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ecotourist Offline
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I've always tried to have at least one very reliable vehicle. If you need a big vehicle to tow your boat, why do you need more than one? You could have a new Camry or a new Accord as the reliable vehicle (good for 2 - 300,000 miles or 15 - 20 years) and keep spending freely on the other. I'd get really tired of all the spending but to each to his own.

My BMW has been fairly reliable but it's no-where near as reliable as a Honda or Toyota. I didn't expect it to be.

My sailing partner said sailing was like standing in a cold shower tearing up $100 bills. And that's close to the truth. I wouldn't use a boat enough any more to justify the cost.


2000 BMW 528i 5MT M Sport
2007 Honda Accord EX-L 4Door V6 6MT
Re: Alternative to Unaffordable New SUV? [Re: Fitz98] #5362439 02/28/20 01:25 PM
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dadto2 Offline
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How big is your boat? Do you really need a full size SUV to tow it? Do you need an SUV for your work truck, or will a van or pickup do the job just as well? I bought my Sierra when it was almost 2 years old, 17k miles. Paid $23,700 for it. Another $1,700 for a new cap on the bed. Still had warranty left on it and the PO took the big depreciation hit.

Seems to me that something like that would do well for you, as long as your boat isn't more than 6500 lbs. I haven't had any trouble towing with mine. The new ecotec3 V6 has about the same power as the 4.8 V8 from the previous generation. The truck is lighter now too.


'16 GMC Sierra 1500 Crew Cab 4.3
'15 Volvo S60 T5 AWD
'99 Volvo S70 2.4
Re: Alternative to Unaffordable New SUV? [Re: Fitz98] #5362448 02/28/20 01:35 PM
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dtownfb Offline
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Before purchasing another vehicle, get your finances in order. Lots of people had difficult financial times during the recession and have overcome them.

My concern is when you state you have between "$500-$600/month to work with". Does that mean the rest of your income is spoken for? Or is that what you are budgeting?

You have to develop a plan to get your house in order. There are a few high profile folks with plans to help you get debt free (I like Dave Ramsey but to each their own). They work if you stay disciplined. Even if your goal isn't to become debt free, the budgeting process will be very helpful in finding over spending.

Considering the past repo financing a vehicle is going to be expensive for you. You want save as much as you can for a down payment to reduce how much you finance.

Also be honest about what you need versus what you want. Your wife wants an Expedition. Big, beautiful cars but really expensive. Can you get away with an off lease Tahoe, Expedition, Pilot, etc.? Buy a used vehicle with 60k miles on it? It will likely be close to half the original MSRP and get you around your $500-$600 per month. I would recommend not financing past 60 months if you can. My last 3 few cars have been used and I've had great experience with each (My wife gets the new cars).

Good luck


2006 Toyota Camry
2013 Toyota Sienna
2015 Toyota Camry
Re: Alternative to Unaffordable New SUV? [Re: RhondaHonda] #5362449 02/28/20 01:37 PM
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PimTac Offline
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Originally Posted by RhondaHonda
How big is this boat? How much does it weigh?

$45,000 for 84 months at 2.9% interest is $593 a month. The cheapest Yukon XL at the big local dealer here is $56,369. You are in the ballpark with a reasonable down payment and trading in the Sentra and Suburban. I am not sure what your credit looks like with the repo so the rates may vary. They are doing 0% for 60 months which probably doesn’t work with your payment amount.

https://www.laurabuickgmc.com/Vehic...Edition-Collinsville-IL/3502774583#close




84 months to pay on a vehicle is obscene. That’s the nicest way I can put it.


2017 Mazda CX5
Valvoline Advanced Synthetic 0w20
Roki OEM filter.
Re: Alternative to Unaffordable New SUV? [Re: Fitz98] #5362450 02/28/20 01:39 PM
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atikovi Offline
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Originally Posted by Fitz98
Last month, I dumped a 1000.00 into the Suburban for a fuel pump and another 200 for an alternator, now the AC is acting up.
Recently I put a few hundred into a brake job and while servicing the rear brakes, I see the rear axle seal needs replacing, about 250. I put about 1000.00 a few months ago on a cooling system failure and inserts in the sparkplugs and new plugs and boots.


If you're going to own 20 year old 200,000 mile vehicles, you really need to learn how to DIY.

Re: Alternative to Unaffordable New SUV? [Re: Fitz98] #5362460 02/28/20 01:45 PM
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BMWTurboDzl Offline
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Do you absolutely need a suburban as a work truck? - It's a huge vehicle, gets poor mpgs and takes forever to cool down in that humid florida sun.

Are you self-employed? - If so there may be some tax advantages that you can realize on a new vehicle.

If you have two reliable vehicles could you ditch the Nissan?


Sometimes you can get a deal when you buy two vehicles. Maybe two 4Runners?

How big/heavy is the boat?


“It took untold generations to get you where you are. A little gratitude might be in order. If you’re going to insist on bending the world to your way, you better have your reasons.”

435i
Re: Alternative to Unaffordable New SUV? [Re: BMWTurboDzl] #5362466 02/28/20 01:52 PM
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Danno Offline
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Originally Posted by BMWTurboDzl

How big/heavy is the boat?

And how many people do you haul regularly?


2019 Jeep Grand Cherokee Summit 5.7L Hemi
2019 RAV4 Limited Hybrid
2016 Sorento SX V6 AWD
2010 Mazda 3 2.0L
Re: Alternative to Unaffordable New SUV? [Re: Fitz98] #5362477 02/28/20 02:04 PM
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Fitz98 Offline OP
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Should be clear up front. The boat is a must!
It is a passion that my wife and I share. I wish I could afford a new boat too, but I have customized mine a little at a time for fishing here in Florida and it gives me what I need/want. I would assume those who talk about getting rid of the boat don't share the same passion.
Boat and trailer is probably about 6k lbs, but I would like the option to upgrade to a bigger boat in the future.
I have what I need already with regards to vehicles.
I am O.K. with what I have, but I do spend a lot of hours keeping them running and looking good, Just starting to consider one with less time and money dealing with breakdowns.

Re: Alternative to Unaffordable New SUV? [Re: Fitz98] #5362491 02/28/20 02:19 PM
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Fitz98 Offline OP
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My repo was 10 years ago and my credit has improved greatly, but I want to keep it that way.
The 500-600 is what I would consider doable, but not budgeted, but when I consider an average cost of 200-300.00/ month for maintenance that is a little incentive.
My Suburban is setup for working out of. Removed back seats and built a system to stack all my work stuff in layers. I do a lot of driving, so I like the comfort of an SUV, vs all the noise and rattling of a van. The van makes more sense, but I hate them for driving, but that's just me. My neighbor has a new Ford hightop van. Rides great, but noisy and not very comfortable in the long ride and the radio is not even listenable. I am being picky, but I know what I like.
I can't use it for the boat, mostly because it only has 2 seats now and it is not practical for unloading and putting the seats back every time I want to hook up the boat.
However, some suggestions got me thinking. Maybe a smaller import type SUV could work and I will keep the Expedition for towing and the backup vehicle. I wouldn't get much for it to sell or trade.
Insurance and registration is not an issue.

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