|
Proposed Budget: This part is my biggest problem. I don't really know how much car I can afford. I'm a fresh college grad, single, no student loans or any debt except my current car note (275/mo). I'll be making about 80k a year in the Florida panhandle. I'm looking to buy a nicer car, so on the upper end of whatever budget makes sense under that situation. New or Used: New, although I'm open to used if it is highly recommended Body Style: I'd like to keep it in the range of 2 dr coupe to small SUV. No real preference on which end of the spectrum, though. How will you be using the car?: Daily driver. 15ish minute commute to work and driving around town. Handling/performance is important, but comes second to the gizmos and doo-dads. I listen to a lot of music on my drives, so a decent sound system is a must. Definitely looking for a backup camera as my current car (2012 Nissan Juke) has me hooked on them. Really looking for a car with a nice array of features. What aspects are most important to you? 1. Features. Maybe not the most responsible thing to list first but whatever. Apple CarPlay looks cool! 2. Reliability. The less time/money I invest between scheduled maintenance visits the better. 3. Handling/Performance. I'd definitely like something that's a blast to drive on top of all that other stuff, but I can make sacrifices here if need be. I haven't done a lot of research, but the Audi Q5 has caught my eye as a possibility. I'm not very knowledgeable of car brands, though, so I'm not sure if that's a good one or not.
|
#
¿
May 20, 2014 04:59
|
|
|
|
| # ¿ Apr 28, 2024 17:56 |
|
|
Uncle Jam posted:How much money are you going to put down on it? An Audi Q5 is getting up there for $80k/year. Don't forget to estimate like $200/mo for insurance as well. Edit: That's my Michigan mind, I dunno what insurance is like in Florida. Down payment is probably gonna be whatever trade-in I get (or if I can do so easily, whatever I sell my current car for) plus maybe 5 - 10k depending on how long I decide to save. I guess I should mention I wasn't planning on buying right now - I'll likely wait until I get my current car paid off next year before I start getting really serious. Just trying to get a feel for what I should look at. nm posted:Lets start with the BFC part here. Why do you want/need a new car to replace a 2012? I mean if it just isn't working out for you, fine, but the reasons would help. I mean 2012 is pretty new. Like you mentioned, the charm is starting to wear off on my current car. I liked it at first, but I'm looking for something more "professional" or "adult" now if that makes any sense. And the Audi bit you mentioned is just the kinda stuff I'm unaware of! I'm really just trying to get in the ballpark of what I should be doing research on. I'm not entirely sure what you mean by the second part. Could you clarify? Do you mean don't shop cars based on monthly payments but rather cost to own over the entire loan? I get that part, I didn't mean to imply I was looking for the smallest monthly payment possible if I did. If you're talking about my payment on my current car being low, I did put 13k (including trade-in) down on it.
|
|
#
¿
May 20, 2014 06:05
|
|
|
nm posted:Don't shop on payment. Say I want a $20k car or whatever. Appreciate the input. I'll definitely get a better handle on what my finances look like between now and some time next year - I'm mostly just window shopping at this point and trying to get an idea of what I should look into more when I do want to buy. e: The BRZ looks pretty cool, but I guess I should also mention I'm planning on getting an automatic transmission as well cause I'm a weenie that can't drive manual. I know the BRZ can have an AT, but I feel like it's one of those that you get the most out of by driving with a stick. That's why the performance/handling bit was last on my list. Traitorous Leopard fucked around with this message at 07:00 on May 20, 2014 |
|
#
¿
May 20, 2014 06:42
|
|
|
plester1 posted:If you want something more "professional" or "adult" for yourself, that's cool, That's what I meant, the visual style of my current car just doesn't really appeal to me anymore.  I mean look at it, that's got kid's table written all over it
|
|
#
¿
May 20, 2014 07:05
|
|
|
quote:Oh yeah, you bought a Juke huh? Those things are not terrible cars, but boy are their looks polarizing. Personally I think they'd look OK if those weird top-of-the-hood headlights were eliminated and they just used the lower headlights as the regular ones. It's a pretty fun car to drive for sure - a lot more pep than the car I had before (an 06 Sentra). I also really liked the visual styling at first, but now not so much unfortunately. I'm not really sure what changed ha. The lights on the top of the hood actually look kinda cool at night from the driver's seat. Leperflesh posted:
Oh, sorry for the confusion. The $275/mo I listed in my OP is what I pay for my Juke now, not what I'm looking to pay for a new car. I don't have a solid total value in mind at the moment (although taking some of nm's advice into consideration maybe 30k + or - 3k). quote:The range of 2 door coupe to small SUV covers basically every car short of a large SUV or a pickup truck I guess? There are a lot of nice cars man, we need more specifics if we're gonna recommend you something. Yep! I'm not too picky I guess. I guess I get more for my money if I drop SUVs outta consideration so maybe larger 2 door coupes to smaller 4 door sedans? That's still a pretty big range, though. I'm not super into the whole "sports car" look when it comes to coupes if that helps any. quote:We also can't guess how much your tradein will be worth because we don't know how much is left on the note on your current car. You can use Edmonds to find out the estimated tradein value for your car based on its exact specs, mileage, and your zip code, and then subtract whatever you still owe, and that will give you a ballpark figure (but not really what you'll get for it a year from now). I'm for sure not going to buy a new car until I finish paying this one off. Right now Edmunds says trade-in is 17k (I estimated the mileage I expect to be at next year as well). So conservatively 13k? Like you implied, a lot can change in a year. quote:Gizmos and features narrows it down a little, but surprisingly not that much. A premium stereo is typically available at higher trim levels on most cars, and you can of course add aftermarket audio to any car (often for less than what you pay for a factory premium stereo). Most new cars are very reliable, and that just leaves the performance thing which is why people are asking about that a bit. Like I posted above, I'm definitely getting an AT so when I say handling/performance I only mean so in the most basic sense. Just something with some pep in its step. After looking over the BRZ that nm suggested, it looks like it covers most of the bases tech-wise that I was looking for (except I don't think I saw a backup camera, gotta have one of those). Traitorous Leopard fucked around with this message at 08:09 on May 20, 2014 |
|
#
¿
May 20, 2014 08:05
|
|
|
Throatwarbler posted:Volvo S60/V60, Buick Regal, Acura TSX/TSX wagon. Although this is the last year they're going to make them. My buddy has a fairly recent model Acura TL that I'm pretty fond of so I'll definitely check out the TSX. Their site lists the TLX as a new one coming out this year that looks cool as well. The reliability point is a big one, too.
|
|
#
¿
May 20, 2014 09:27
|
|
|
I appreciate all the help fellas. I'm definitely gonna keep an eye on the TSX and see what it does price-wise when the TLX comes out. Depending on how affordable the TLX is, I'll keep that one in mind as well. Does anyone have any ideas on what the price point will be for the TLX? Is it expected to be between the TSX and TL or likely higher than the TL?skipdogg posted:I'm going to go anti-BFC and go against the grain of this thread for a moment and say gently caress it all. You're a high earning kid with no family responsibilities right now, go lease a fun as gently caress car to drive and drat the payment. You have the rest of your life to make smart financial decisions and drive more practical cars. Have fun now, if your life takes the traditional wife->kids etc route the next time you'll get to own an impractical car is sometime around 50 years old. If the experience is important to you now is the time to do it. Ha, this is the kinda advice I wanna see! The OP mentions that leasing is pretty much always a bad idea, though. What if, hypothetically, I was interested in getting a new car every 3-4 years - is it still better to buy and trade-in than to lease? Traitorous Leopard fucked around with this message at 21:55 on May 20, 2014 |
|
#
¿
May 20, 2014 21:34
|
|
|
skipdogg posted:I'm personally a big fan of leasing *If it fits your lifestyle*. From a BFC perspective any kind of newer vehicle isn't the best way to spend your money, but for folks that like to spend some of their disposable income on driving a newer car, I believe it is the way to go as long as you fit certain criteria. drat, those posts were super helpful. Leasing is another thing to keep in mind I guess! Just for a general example, would a car like an Acura that is known for keeping its resale value still be good to lease or is it better to purchase in that situation (just an in general sort of thing - I don't need hard numbers here)? I'm guessing a cars reputation for holding resale value is something that is taken into consideration when calculating the residual anyway?
|
|
#
¿
May 20, 2014 23:22
|
|
|
Ciaphas posted:
Maybe I'm wrong, but I figure cap cost reductions like that are a bad idea from a "time value of money" perspective. Putting that "down payment" on the lease doesn't actually change the total amount of money you spend over the whole lease term so you're better off just holding onto it and making the monthly payments as you go. That money is more useful to you now in the present than in the future.
|
|
#
¿
May 22, 2014 20:59
|
|
|
Ok so I consulted this thread a little while back on getting a new car. After a lot of thought, I'm actually looking at leasing an Audi S4 (on recommendation of this thread, actually), and I wanted to make sure I understand the leasing game correctly and have the proper strategy. So, first things first, after the test drive and when I've made my decision, it's dealing time. As I understand, I shouldn't let on that I'm looking at leasing or trading in at first and should strictly haggle the purchase price, correct? Then, once I have a price on paper, I ask about getting that on a lease. From what research I've done, it appears the 2014 S4 has a residual of 57% and a MF of 0.0007. Both sound fairly good to me, but how much can the dealer play around with that? I'm a young guy, so I'm assuming they'll definitely run my credit before committing to a money factor. For what it's worth, my credit is "good" insofar that the only knock against it is my oldest account is only 2 years old (my current car payment). I've recently opened a credit card account (something I should have done while in school) to have a more permanent credit building option. Anyways, assuming they don't try to jack up the interest on me and I think I've got a deal I like, then I could bring up the trade in, right? From other reading I've done, I shouldn't put the equity in my current vehicle towards capital cost reduction, though. I'm sure I could get a better price selling privately, but if I so choose, would the dealer offer to cut me a check for what remains after the payoff? Also, one last question: I don't want to do CCR because if the car gets totaled or stolen then that money is gone. I can, however, pay multiple security deposits to "buy down" the money factor, right? This will lower the monthly payment as well, but I get that money back at the end of the lease (or if it's totaled or stolen). Also also, GAP insurance yea or nay? Does all of that sound right? Have I made any glaring errors?
|
|
#
¿
Jul 6, 2014 23:02
|
|
|
skipdogg posted:Dealers can, and often do mark up the MF rate. Audi Financial might be offering .0007 as their buy rate, but if a dealer can get you to .0010 or maybe a little higher they will pocket the difference. That .0007 is also for 'prestige' credit tier which is going to be very well established income and high credit score. Going by Internet prices I've got roughly $5k in equity in my current car. I know it's less convenient to sell privately, but how much so? Finance-wise, I should be able to swing the payments provided the dealership is able to give me a decent (but not unreasonable) deal. All the budget planning I've done with this lease in mind has used conservative numbers, and while it is on the upper bounds of what I can responsibly afford, I think the amount of fun this car can be will be worth it.
|
|
#
¿
Jul 7, 2014 00:15
|
|
|
Grumpwagon posted:I know you've been down this road with the thread already, but stretching your budget to the limit to lease a $55k car seems like a dumb idea to me. There are plenty of fun cars that cost half as much. Yeah making payments on both cars each month doesn't sound super fun. I've never done anything like selling a car privately, so if the dealer isn't trying to completely rip me off I may just go with what they offer for the convenience. quote:Yeah, an S4 for 55k... You're paying a lot for the luxury, not necessarily the drive. It's the combination of the luxury and the drive that I find so appealing. I am open to suggestions if y'all can think of cars that fill a similar role but can be had for less.
|
|
#
¿
Jul 7, 2014 04:36
|
|
|
Sole Survivor posted:If you're honestly looking for a fun drive, I'd highly recommend looking at the BMW M235i. It's probably the best sports car money can buy, and it's a decent bit cheaper than an S4. I was considering that one at first, but none of my nearby BMW dealers have one on the lot to test drive. It does sticker about $6k cheaper at the base model, though. Insurance-wise, however, I would imagine it would be noticeably more expensive than the S4 since it's a coupe. I got a quote for the S4 and S5, and the S4 would run about $750 every 6 months whereas the S5 was almost $1200. Maybe I'm missing something, but there isn't much difference between those cars aside from one being a sedan while the other is a coupe.
|
|
#
¿
Jul 7, 2014 04:49
|
|
|
The S4 I had in mind was actually stickering for $57k (you were right about the options!). As for the practicality side of things, I just really prefer the styling of sedans to the coupe/sports car look. Plus, I'd like to be able to provide a slightly more comfortable ride to friends if I've gotta pack more than one of them in there. I put together a rough, conservative budget earlier, and I calculated I'd have an extra $600/mo left over if my lease payment was about $700/mo. This budget was assuming I maxed out 401k contributions, spent $23/day on food (weekends included), and blew $125 every weekend on entertainment. The tax amount I used for my budget was also high because the number was based on my income before 401k contributions. Looking it over, $600/mo in savings is a little light. I would definitely say I overestimated some expenses, though. End of the day, I'm not going in on this car unless I can get a reasonable deal.
|
|
#
¿
Jul 7, 2014 06:00
|
|
|
skipdogg posted:700 is probably doable if you trade your car in... quick 1 AM back of the paper math shows 0 down is going to be around 775 a month with no extra security deposits, and no cap cost reduction, but includes all your fees. If your trade in equity covers your dealer fees, acquisition fee, first months payment (you pay ahead of time on a lease..you'll make your first payment when you sign) and takes the cap cost down a couple grand you should be able to swing under 700...(ballpark 680 ish). I would need specifics like what city/state you are in to run more accurate numbers.. That's also including getting 2K off MSRP which should be doable if you're in a major metro area. Ha, well if ya get bored, I live in Florida, but the dealership is in Alabama. Appreciate it.
|
|
#
¿
Jul 7, 2014 13:26
|
|
|
|
| # ¿ Apr 28, 2024 17:56 |
|
|
Alright so I went by the dealer today to test out the S4 - holy moley. What a car. Anyways, the deals they could offer me on one that's stickered for $57k were $740/mo for 36 months or $700/mo for 42 months. That includes all taxes and fees and such, with no money down (aside from the equity in my trade-in that they actually gave me a decent offer on). Are those "gently caress off, kid" deals or do they seem reasonable? They seem reasonable to me. Also, is there any reason to go for the 36 months over 42 aside from being able to get out of the lease sooner? I'm still giving myself several days to decide for sure, but I don't think I can haggle the dealership much more. If that's a bad deal, then I'm just gonna keep my current car and save for a bit I guess. Thanks in advance for all the advice, fellas.
|
|
#
¿
Jul 8, 2014 05:47
|
|