***New Car Advice Thread*** (1 Viewer)

[Dentist]

Yeah the point is that you don't know what his financial situation is. He may be in great shape for retirement. It's important to be fiscally responsible and save for retirement but its also important to enjoy your life while you're young. I don't see why it's impossible to have both. If the guy wants a nice car, who are we to judge?

you're right I don't know what his situation is.

But generally speaking someone who's looking to lease or make 5-7 year payments on a vehicle is not doing as well financially as he or she could be doing or is getting ready to make a decision that is going to downgrade, not upgrade their situation.

if you've got the cash to purchase one of those vehicles outright without jamming up your month to month activity I've got zero issue with purchasing something outlandish like a luxury automobile.

 

[jon_mx]

If you were a night shift Manager at Walgreens pulling in the big bucks living in your mom's basement with multiple unused credit card offers available, I would say go for the BMW. But most of us just ain't that fortunate.

 

[tjnc09]

Why exactly do you want a Lexus or BMW?

And I don't mean that in a Dentist kind of way.

 

[jon_mx]

Why exactly do you want a Lexus or BMW?

And I don't mean that in a Dentist kind of way.

Good question....Chick magnet? Like the drive? Like the luxury? Want to impress the buddies?

 

[tjnc09]

What's the obsession with high quality transportation... do you guys have long commutes whereby really taking advantage of the car's luxury? Do you have to take clients around and thus desire a car that makes you look extra professional?

I don't get it... It's getting from one place to another... As long as the vehicle is reliable and clean I truly don't understand spending on elite transportation unless you are so rich that you can just pay cash for the whole thing and it's a "why not" kind of thing.

I mean if I was a multi-millionaire and the difference between a Chevy Traverse and a Land Rover meant nothing to me I suppose I'd pick the Land Rover.... but if I had to make payments or something... well.. i don't understand.

I don't get the desire to drive a ####ty car day in and day out.

 

[Leroy's Aces]

What's the obsession with high quality transportation... do you guys have long commutes whereby really taking advantage of the car's luxury? Do you have to take clients around and thus desire a car that makes you look extra professional?

I don't get it... It's getting from one place to another... As long as the vehicle is reliable and clean I truly don't understand spending on elite transportation unless you are so rich that you can just pay cash for the whole thing and it's a "why not" kind of thing.

I mean if I was a multi-millionaire and the difference between a Chevy Traverse and a Land Rover meant nothing to me I suppose I'd pick the Land Rover.... but if I had to make payments or something... well.. i don't understand.

Personally, my company pays for my lease and I own the company so there is a savings there. And I like driving fun cars. I really don't consider a BMW 335 lease to be some big luxury or prestige car though. It isn't like buying a Maserati or Bentley that is more of a "f-you, I'm rich" kind of car. That said, I am sure I would have saved some money driving something cheaper. I would consider something cheaper if it was a quality ride, fun to drive and didn't have a crummy interior. Not sure what that car would be.

ETA two comments:

1. Once you drive a better quality car, it is tough to go back. I owned a Camry Hybrid during the recession and hated it. Rented a cheap car at Enterprise at the time and got a free upgrade to a Cadillac CTS. Turning in the Caddy after a 4 day rental and going back to the Camry sucked.

2. When I was much younger, I could only afford cheap cars. As in a 1979 Buick Regal, a 1983 Mercury Lynx, a $700 Lincoln that broke down on the highway more than once. Now that I can afford better, I go that route and don't regret it for a minute. I feel like I have put in my time in high mileage, sh*tty cars that break down all the time.

 

[fantasycurse42]

Why exactly do you want a Lexus or BMW?

And I don't mean that in a Dentist kind of way.

Love how BMW drives...Intrigued by The reasonable pricing for Lexus.

 

[fantasycurse42]

We have a baby who is now 16 months...

Before having the kid, we were sharing a nice new Mercedes. Once my wife got pregnant, we decided we would save money on the car. I had my car from college sitting at my mothers house in NJ for a few years. She used it as a beater to take the dog to the vet, park, if she was going to Home Depot, etc... It is a 2001 Maxima with 140k miles. We took this car back after the Mercedes around 2 years ago. It's an old POS. I honestly don't like my wife and kid in the car.

I'd rather have them in something new. If it comes down to $240 or $370 a month for a much nicer car, I'll splurge the difference.

 

[fantasycurse42]

Gotten feedback on the G37, 3 series, TL, & X3...

Are there any FBG's driving a 2013-14 ES 350?

TIA

 

[fred_1_15301]

Gotten feedback on the G37, 3 series, TL, & X3...

Are there any FBG's driving a 2013-14 ES 350?

TIA

I'll add another vote to the G37. I got a 2008 G35x and love the ride. Significantly cheaper than a BMW but similar power and performance. Also, in 6 years I haven't had a single problem with the car. By the way, Infiniti now has a pretty cool personal assistant promotion (although not sure if it has to be a new car)

 

[tjnc09]

Why exactly do you want a Lexus or BMW?

And I don't mean that in a Dentist kind of way.

Love how BMW drives...Intrigued by The reasonable pricing for Lexus.

The down payment for those leases isn't going to be cheap - I'm guessing ~$3500.

Also, do you really want to lease a nice car with a baby who will love to spill and have accidents of the solid and wet kind?

Personally for me, I would choose a faster car at a comparable price. It's 2014 - all cars drive nice.

 

[Dentist]

What's the obsession with high quality transportation... do you guys have long commutes whereby really taking advantage of the car's luxury? Do you have to take clients around and thus desire a car that makes you look extra professional?

I don't get it... It's getting from one place to another... As long as the vehicle is reliable and clean I truly don't understand spending on elite transportation unless you are so rich that you can just pay cash for the whole thing and it's a "why not" kind of thing.

I mean if I was a multi-millionaire and the difference between a Chevy Traverse and a Land Rover meant nothing to me I suppose I'd pick the Land Rover.... but if I had to make payments or something... well.. i don't understand.

I don't get the desire to drive a ####ty car day in and day out.

hold on tiger... there's a HUGE amount of in between a BMW and a bottom level Kia or something.

are you telling me a run of the mill ford focus, chevy impala or honda accord is "####ty" provided it is in great shape?

define "####ty" ? My 10 year old chevy with 125,000 miles gets me to work every single day and back and has never broken down.... are you guys driving these BMW's geting boners whilst driving because of some "experience"? Speed limit is 65 mph... and my sister's 15 year old cavalier achieves that speed just fine.... so your BMW does 150 mph.. congrats on buying something illegal to fully take advantage of.

 

[tjnc09]

What's the obsession with high quality transportation... do you guys have long commutes whereby really taking advantage of the car's luxury? Do you have to take clients around and thus desire a car that makes you look extra professional?

I don't get it... It's getting from one place to another... As long as the vehicle is reliable and clean I truly don't understand spending on elite transportation unless you are so rich that you can just pay cash for the whole thing and it's a "why not" kind of thing.

I mean if I was a multi-millionaire and the difference between a Chevy Traverse and a Land Rover meant nothing to me I suppose I'd pick the Land Rover.... but if I had to make payments or something... well.. i don't understand.

I don't get the desire to drive a ####ty car day in and day out.

hold on tiger... there's a HUGE amount of in between a BMW and a bottom level Kia or something.

are you telling me a run of the mill ford focus, chevy impala or honda accord is "####ty" provided it is in great shape?

define "####ty" ? My 10 year old chevy with 125,000 miles gets me to work every single day and back and has never broken down.... are you guys driving these BMW's geting boners whilst driving because of some "experience"? Speed limit is 65 mph... and my sister's 15 year old cavalier achieves that speed just fine.... so your BMW does 150 mph.. congrats on buying something illegal to fully take advantage of.

Man, you really do hate nice cars.

 

[Bucky86]

Dentist is probably that ######## you split dinner with that has to point out his beer was $4 cheaper than your glass of wine.

 

[Bucky86]

What's the obsession with high quality transportation... do you guys have long commutes whereby really taking advantage of the car's luxury? Do you have to take clients around and thus desire a car that makes you look extra professional?

I don't get it... It's getting from one place to another... As long as the vehicle is reliable and clean I truly don't understand spending on elite transportation unless you are so rich that you can just pay cash for the whole thing and it's a "why not" kind of thing.

I mean if I was a multi-millionaire and the difference between a Chevy Traverse and a Land Rover meant nothing to me I suppose I'd pick the Land Rover.... but if I had to make payments or something... well.. i don't understand.

I don't get the desire to drive a ####ty car day in and day out.

hold on tiger... there's a HUGE amount of in between a BMW and a bottom level Kia or something.

are you telling me a run of the mill ford focus, chevy impala or honda accord is "####ty" provided it is in great shape?

define "####ty" ? My 10 year old chevy with 125,000 miles gets me to work every single day and back and has never broken down.... are you guys driving these BMW's geting boners whilst driving because of some "experience"? Speed limit is 65 mph... and my sister's 15 year old cavalier achieves that speed just fine.... so your BMW does 150 mph.. congrats on buying something illegal to fully take advantage of.

Man, you really do hate nice cars.

He's going to be retired at 50 spending his days getting to-go boxes from the early bird specials while we're all slaving away at the office because we like to drive nice cars.

 

[tjnc09]

What's the obsession with high quality transportation... do you guys have long commutes whereby really taking advantage of the car's luxury? Do you have to take clients around and thus desire a car that makes you look extra professional?

I don't get it... It's getting from one place to another... As long as the vehicle is reliable and clean I truly don't understand spending on elite transportation unless you are so rich that you can just pay cash for the whole thing and it's a "why not" kind of thing.

I mean if I was a multi-millionaire and the difference between a Chevy Traverse and a Land Rover meant nothing to me I suppose I'd pick the Land Rover.... but if I had to make payments or something... well.. i don't understand.

I don't get the desire to drive a ####ty car day in and day out.

hold on tiger... there's a HUGE amount of in between a BMW and a bottom level Kia or something.

are you telling me a run of the mill ford focus, chevy impala or honda accord is "####ty" provided it is in great shape?

define "####ty" ? My 10 year old chevy with 125,000 miles gets me to work every single day and back and has never broken down.... are you guys driving these BMW's geting boners whilst driving because of some "experience"? Speed limit is 65 mph... and my sister's 15 year old cavalier achieves that speed just fine.... so your BMW does 150 mph.. congrats on buying something illegal to fully take advantage of.

Man, you really do hate nice cars.

He's going to be retired at 50 spending his days getting to-go boxes from the early bird specials while we're all slaving away at the office because we like to drive nice cars.

 

[eoMMan]

We have a baby who is now 16 months...

Before having the kid, we were sharing a nice new Mercedes. Once my wife got pregnant, we decided we would save money on the car. I had my car from college sitting at my mothers house in NJ for a few years. She used it as a beater to take the dog to the vet, park, if she was going to Home Depot, etc... It is a 2001 Maxima with 140k miles. We took this car back after the Mercedes around 2 years ago. It's an old POS. I honestly don't like my wife and kid in the car.

I'd rather have them in something new. If it comes down to $240 or $370 a month for a much nicer car, I'll splurge the difference.

Have you started the kid's college fund yet?

 

[fantasycurse42]

We have a baby who is now 16 months...

Before having the kid, we were sharing a nice new Mercedes. Once my wife got pregnant, we decided we would save money on the car. I had my car from college sitting at my mothers house in NJ for a few years. She used it as a beater to take the dog to the vet, park, if she was going to Home Depot, etc... It is a 2001 Maxima with 140k miles. We took this car back after the Mercedes around 2 years ago. It's an old POS. I honestly don't like my wife and kid in the car.

I'd rather have them in something new. If it comes down to $240 or $370 a month for a much nicer car, I'll splurge the difference.

Have you started the kid's college fund yet?

 

[rascal]

In all seriousness, I say this every time someone is looking at cars in this range:

Go check out the Acura TL. It comes fully loaded and is a beautiful car. I'm not saying you'll buy it over the other ones you've listed, but you should at least check it out.

My wife has this car and we absolutely love it. Shame we are going to have to sell it for a crossover....ugh.

 

[Drifter]

Why the bmw 3 sites but not the Lexis is350? That would be the comparable car. Drove the fsport trim a couple weeks back. Fun drive. Hate the spindle grill.

I ended up getting an Infiniti Q50 hybrid sports trim. Love it. Best looking car in the entry level luxury performance class imo. Also drives as well as the Lexus and had a nice cabin that blends luxury, sporty and techy perfectly.

Money factor was lower than Lexus (.0006 to Lexus' .0009). Also was able to get it for several thousand below msrp.

 

[Drifter]

See some talk on the G37. Great car and a good deal in the segment right now. Body is a little dated being the 07 engineering and it's lacking on the tech side inside. It's also a driver's car more than a luxury car so a little bumpy and most. The Q50 sacrifices a little of the pure driving machine for some comfort, tech and looks while still providing a fun drive in "sport" mode in the s trim

 

[Drifter]

What's the obsession with high quality transportation... do you guys have long commutes whereby really taking advantage of the car's luxury? Do you have to take clients around and thus desire a car that makes you look extra professional?

I don't get it... It's getting from one place to another... As long as the vehicle is reliable and clean I truly don't understand spending on elite transportation unless you are so rich that you can just pay cash for the whole thing and it's a "why not" kind of thing.

I mean if I was a multi-millionaire and the difference between a Chevy Traverse and a Land Rover meant nothing to me I suppose I'd pick the Land Rover.... but if I had to make payments or something... well.. i don't understand.

Personally, my company pays for my lease and I own the company so there is a savings there. And I like driving fun cars. I really don't consider a BMW 335 lease to be some big luxury or prestige car though. It isn't like buying a Maserati or Bentley that is more of a "f-you, I'm rich" kind of car. That said, I am sure I would have saved some money driving something cheaper. I would consider something cheaper if it was a quality ride, fun to drive and didn't have a crummy interior. Not sure what that car would be.

ETA two comments:

1. Once you drive a better quality car, it is tough to go back. I owned a Camry Hybrid during the recession and hated it. Rented a cheap car at Enterprise at the time and got a free upgrade to a Cadillac CTS. Turning in the Caddy after a 4 day rental and going back to the Camry sucked.

2. When I was much younger, I could only afford cheap cars. As in a 1979 Buick Regal, a 1983 Mercury Lynx, a $700 Lincoln that broke down on the highway more than once. Now that I can afford better, I go that route and don't regret it for a minute. I feel like I have put in my time in high mileage, sh*tty cars that break down all the time.

This is true. I also drove the top trim Mazda 6, Kia Optima and Ford Fusion and they are not the same at all. The Mazda came closest in drivability but was underpowered and not quite there on the interior. The Optima had decent power and was loaded with tech on the inside but felt like it was trying too hard while just missing and the Fusion flat out sucked.

 

[Drifter]

Do NOT (I repeat DO NOT) go in and just negotiate on monthly lease payments.

This is advice I just don't understand... I have ZERO intention of buying the car out. I am going to beat it to ####, get an oil change every 10k miles, and then give it back in 27 months and let someone deal with the problems.

All I care about is my cost for the next 27 months, that is it.

You should still not negotiate off of monthly payment. The money factor is going to be fixed based on your credit rating and the financial institution doing the lending but the Capital Cost of the car and the residual value of the car are what you should be negotiation around. If you have excellent credit you should start ever conversation with every dealership with what money factor you are going to get from them with an Excellent rating. The, what you want to do if you have no intention of keeping the car is negotiate the lowest Capital Cost and highest residual value you possibly can. That will lead to the lowest monthly payment.

Knowing the building blocks will get you farther while allowing you to compare offers across delaerships. Also the dealership will be less likely to #### with you because they think you are a rube who doesn't understand how a lease works.

 

[mquinnjr]

See some talk on the G37. Great car and a good deal in the segment right now. Body is a little dated being the 07 engineering and it's lacking on the tech side inside. It's also a driver's car more than a luxury car so a little bumpy and most. The Q50 sacrifices a little of the pure driving machine for some comfort, tech and looks while still providing a fun drive in "sport" mode in the s trim

I couldn't afford the Q50 with all the toys in it, so I went with the G37x which better fits my budget for a leased car. it, nicest car I've driven to this point. Hard to get a better bang for the buck in the entry level segment right now.

As for lease calculations, your post above is spot on. Money Factor = interest rate charged to you. I think they use that term purposely to confuse people, but you multiply it by 2400 to get your interest rate as a % of 100. For example, a MF of .0009 = .0009 x 2400 = 2.16% interest rate. Residual is a fancy word for salvage value at the end of the lease. The more miles you ask for per year, the lower the residual %, the higher capitalized cost you need to pay for over the course of the lease. Need to know your state sales tax rate, which will also be a factor. Also need to find out if the brand your leasing charges an acquisition fee, which you can roll into the negotiated sale price or pay at inception. Same for tags & gov't fees.

All the above is factored against the negotiated price of the car. While it might seem overwhelming, those are all the variables the dealer has to tinker with on the other side of the computer screen you can't see to when you negotiate a monthly payment number, which is the end result of the calculation. When you negotiate the sale price of the car, then have them walk you through the above, they effectively have to show your their hand (outside of dealer incentives, which are off the books (we see as customers) rebates the dealer gets from the parent company when they sell a car to you via a lease/sale). To know what those are, you need to hop on the Edmunds forums or know a dealer to find out how low you can truly take them down on the sales price of the car, since this is a big, fat unknown to the consumer.

I used a spreadsheet that has all of these factors tweaked so you only need to enter a few pieces of information, and it calculates your monthly lease payment price, which you then compare against the dealer at the table. PM me and I'll shoot it over.

 

[gianmarco]

Do NOT (I repeat DO NOT) go in and just negotiate on monthly lease payments.

This is advice I just don't understand... I have ZERO intention of buying the car out. I am going to beat it to ####, get an oil change every 10k miles, and then give it back in 27 months and let someone deal with the problems.

All I care about is my cost for the next 27 months, that is it.

You should still not negotiate off of monthly payment. The money factor is going to be fixed based on your credit rating and the financial institution doing the lending but the Capital Cost of the car and the residual value of the car are what you should be negotiation around. If you have excellent credit you should start ever conversation with every dealership with what money factor you are going to get from them with an Excellent rating. The, what you want to do if you have no intention of keeping the car is negotiate the lowest Capital Cost and highest residual value you possibly can. That will lead to the lowest monthly payment.

Knowing the building blocks will get you farther while allowing you to compare offers across delaerships. Also the dealership will be less likely to #### with you because they think you are a rube who doesn't understand how a lease works.

This.

 

[thecatch]

We have a baby who is now 16 months...

I'm a 328 owner expecting a kid soon. While I think fitting the car seat/stroller/etc. in the car is doable, it's going to be a tight fit. I've been thinking about upgrading to a 5-series because I love BMWs but really want more space, FWIW.

 

[thecatch]

Gotten feedback on the G37, 3 series, TL, & X3...

Are there any FBG's driving a 2013-14 ES 350?

TIA

I'll add another vote to the G37. I got a 2008 G35x and love the ride. Significantly cheaper than a BMW but similar power and performance. Also, in 6 years I haven't had a single problem with the car. By the way, Infiniti now has a pretty cool personal assistant promotion (although not sure if it has to be a new car)

The G37x will be very comparable in price to the 328. The Infiniti will have a ton more power (which is why it's usually compared to the 335) but the handling isn't nearly as nice, IMO. Depends on what you are looking for in a car.

 

[BobbyLayne]

Are you moving to the suburbs? If not then surely parking plays into the equation. Do you have a garage for the Maxima, or do you move it 3 times a week?

I live in midtown and pay $200 (w/ taxes) for an indoor lot through our building. Market would be twice that and I'm sure BH is in the high 300s, no? I've paid cash for last four cars so no payment, high deductible insurance and the sweetheart parking makes it easy to justify something I never use more than 3-5 times a month.

I'm guessing you have family & in-laws nearby who like to see there grandchild often. I walk to work and haul the kids around to school & events via public transportation. I rarely use the car as a grocery getter, it's just a weekend escape pod. I suppose you drive over to Red Hook Fairway or Gowanus Whole Foods?

If you're doing alternate side and staying in BH, I'd stick with the Nissan. At 140K you have years of good use ahead. It won't impress anyone but there are more important uses if your money. Regarding BMW, yes the 3 series is an impractical family car, step up to the 5 or go with the Infiniti if you're set on getting something newish.

 

[TheIronSheik]

Yeah the point is that you don't know what his financial situation is. He may be in great shape for retirement. It's important to be fiscally responsible and save for retirement but its also important to enjoy your life while you're young. I don't see why it's impossible to have both. If the guy wants a nice car, who are we to judge?

you're right I don't know what his situation is.

But generally speaking someone who's looking to lease or make 5-7 year payments on a vehicle is not doing as well financially as he or she could be doing or is getting ready to make a decision that is going to downgrade, not upgrade their situation.

if you've got the cash to purchase one of those vehicles outright without jamming up your month to month activity I've got zero issue with purchasing something outlandish like a luxury automobile.

I hope you don't have a TV that's too big. Or spend money on beer. Because I don't understand why people would waste money like that.

 

[johnjohn]

Yeah the point is that you don't know what his financial situation is. He may be in great shape for retirement. It's important to be fiscally responsible and save for retirement but its also important to enjoy your life while you're young. I don't see why it's impossible to have both. If the guy wants a nice car, who are we to judge?

you're right I don't know what his situation is.

But generally speaking someone who's looking to lease or make 5-7 year payments on a vehicle is not doing as well financially as he or she could be doing or is getting ready to make a decision that is going to downgrade, not upgrade their situation.

if you've got the cash to purchase one of those vehicles outright without jamming up your month to month activity I've got zero issue with purchasing something outlandish like a luxury automobile.

I hope you don't have a TV that's too big. Or spend money on beer. Because I don't understand why people would waste money like that.

hey everyone, theironsheik spent a lot of money on his car, and if you have a negative opinion about that he will nag you until his insecurities go away

 

[fantasycurse42]

Are you moving to the suburbs? If not then surely parking plays into the equation. Do you have a garage for the Maxima, or do you move it 3 times a week?

I live in midtown and pay $200 (w/ taxes) for an indoor lot through our building. Market would be twice that and I'm sure BH is in the high 300s, no? I've paid cash for last four cars so no payment, high deductible insurance and the sweetheart parking makes it easy to justify something I never use more than 3-5 times a month.

I'm guessing you have family & in-laws nearby who like to see there grandchild often. I walk to work and haul the kids around to school & events via public transportation. I rarely use the car as a grocery getter, it's just a weekend escape pod. I suppose you drive over to Red Hook Fairway or Gowanus Whole Foods?

If you're doing alternate side and staying in BH, I'd stick with the Nissan. At 140K you have years of good use ahead. It won't impress anyone but there are more important uses if your money. Regarding BMW, yes the 3 series is an impractical family car, step up to the 5 or go with the Infiniti if you're set on getting something newish.

Alternate Side Parking is only Monday and Tuesday by me... Parking is somewhat easy in comparison to other locations on my block. We usually drive on the weekends, a lot in the summer. When we get home on Sundays I'll find a spot on the Tuesday side and my wife will go move it to the Monday side around 9:30.

We took a ride to Philly last month and the car starting shaking over 65 - I had the wheels balanced and it didn't solve the problem so it has to be something a little more serious. Driving the car, it just doesn't feel safe. The airbag light is flashing, the ABS light is on, service engine light is on, traction control light is flashing, etc. etc. Basically, after beating the #### out of this thing for the last decade, it just doesn't feel safe and I don't want to invest a few K into fixing it... New problems will be around the corner after I fix the current ones.

After doing some HW last night, the 3 series def isn't practical and the 5 series might be a little too expensive to park on the street... Going to compare pricing from an Accord, the Infiniti, & an ES 350 - If the monthly difference is around $100 or less between the Accord and the Lexus or Infiniti we'll go with the nicer car.

 

[Dentist]

Yeah the point is that you don't know what his financial situation is. He may be in great shape for retirement. It's important to be fiscally responsible and save for retirement but its also important to enjoy your life while you're young. I don't see why it's impossible to have both. If the guy wants a nice car, who are we to judge?

you're right I don't know what his situation is.

But generally speaking someone who's looking to lease or make 5-7 year payments on a vehicle is not doing as well financially as he or she could be doing or is getting ready to make a decision that is going to downgrade, not upgrade their situation.

if you've got the cash to purchase one of those vehicles outright without jamming up your month to month activity I've got zero issue with purchasing something outlandish like a luxury automobile.

I hope you don't have a TV that's too big. Or spend money on beer. Because I don't understand why people would waste money like that.

I don't have a problem with any purchase one makes provided they:

1) have a 6 mo. fully funded emergency fund

2) don't have any non-mortgage debt

3) have funded their retirement accounts to at least 20% of their gross salary

4) are properly insured

5) aren't going into further debt or degrading their financial situation to buy it

So, I don't know if my TV was "too big" and i might have a few beers in the fridge but in my personal situation it doesn't matter because i meet all the criteria for total financial solvency.

And if I decided i had to have a land rover because it fellates me whilst i drive, it would be a waste of money but i'd approve myself on the purchase because the 80K I'd shell out in cash wouldn't affect my monthly budgets in any way.

 

[fantasycurse42]

Yeah the point is that you don't know what his financial situation is. He may be in great shape for retirement. It's important to be fiscally responsible and save for retirement but its also important to enjoy your life while you're young. I don't see why it's impossible to have both. If the guy wants a nice car, who are we to judge?

you're right I don't know what his situation is.

But generally speaking someone who's looking to lease or make 5-7 year payments on a vehicle is not doing as well financially as he or she could be doing or is getting ready to make a decision that is going to downgrade, not upgrade their situation.

if you've got the cash to purchase one of those vehicles outright without jamming up your month to month activity I've got zero issue with purchasing something outlandish like a luxury automobile.

I hope you don't have a TV that's too big. Or spend money on beer. Because I don't understand why people would waste money like that.

3) have funded their retirement accounts to at least 20% of their gross salary

This includes matching?

 

[Drifter]

Gotten feedback on the G37, 3 series, TL, & X3...

Are there any FBG's driving a 2013-14 ES 350?

TIA

I'll add another vote to the G37. I got a 2008 G35x and love the ride. Significantly cheaper than a BMW but similar power and performance. Also, in 6 years I haven't had a single problem with the car. By the way, Infiniti now has a pretty cool personal assistant promotion (although not sure if it has to be a new car)

The G37x will be very comparable in price to the 328. The Infiniti will have a ton more power (which is why it's usually compared to the 335) but the handling isn't nearly as nice, IMO. Depends on what you are looking for in a car.

No it won't. There is no more G series sedan so the last manufacturer year is 2013 and the MSRP fully loaded is around $35k now.

Also, the handling isn't the main factor most will point to. The G37 handling is top notch - it's the ride comfort and interior that most tend to point to

 

[chet]

Pretty sure you can get a good deal on a London based Lambo that needs some bodywork.

 

[TheIronSheik]

Where can you find out the residual value of a car?

 

[TheIronSheik]

Yeah the point is that you don't know what his financial situation is. He may be in great shape for retirement. It's important to be fiscally responsible and save for retirement but its also important to enjoy your life while you're young. I don't see why it's impossible to have both. If the guy wants a nice car, who are we to judge?

you're right I don't know what his situation is.

But generally speaking someone who's looking to lease or make 5-7 year payments on a vehicle is not doing as well financially as he or she could be doing or is getting ready to make a decision that is going to downgrade, not upgrade their situation.

if you've got the cash to purchase one of those vehicles outright without jamming up your month to month activity I've got zero issue with purchasing something outlandish like a luxury automobile.

I hope you don't have a TV that's too big. Or spend money on beer. Because I don't understand why people would waste money like that.

hey everyone, theironsheik spent a lot of money on his car, and if you have a negative opinion about that he will nag you until his insecurities go away

Yes. You know me so well. Good job.

 

[Dentist]

Yeah the point is that you don't know what his financial situation is. He may be in great shape for retirement. It's important to be fiscally responsible and save for retirement but its also important to enjoy your life while you're young. I don't see why it's impossible to have both. If the guy wants a nice car, who are we to judge?

you're right I don't know what his situation is.

But generally speaking someone who's looking to lease or make 5-7 year payments on a vehicle is not doing as well financially as he or she could be doing or is getting ready to make a decision that is going to downgrade, not upgrade their situation.

if you've got the cash to purchase one of those vehicles outright without jamming up your month to month activity I've got zero issue with purchasing something outlandish like a luxury automobile.

I hope you don't have a TV that's too big. Or spend money on beer. Because I don't understand why people would waste money like that.

3) have funded their retirement accounts to at least 20% of their gross salary

This includes matching?

approved

 

[Drifter]

Where can you find out the residual value of a car?

In a lease it's part of your contract. It's based on the expected depreciation of the vehicle under the terms and length of the lease. It's one area you can come out ahead as well. If the actual value of the car at lease termination is greater than the residual value, you can actually purchase the car at residual value then turn around and trade it in and take that equity back.

 

[mquinnjr]

Yeah the point is that you don't know what his financial situation is. He may be in great shape for retirement. It's important to be fiscally responsible and save for retirement but its also important to enjoy your life while you're young. I don't see why it's impossible to have both. If the guy wants a nice car, who are we to judge?

you're right I don't know what his situation is.

But generally speaking someone who's looking to lease or make 5-7 year payments on a vehicle is not doing as well financially as he or she could be doing or is getting ready to make a decision that is going to downgrade, not upgrade their situation.

if you've got the cash to purchase one of those vehicles outright without jamming up your month to month activity I've got zero issue with purchasing something outlandish like a luxury automobile.

I hope you don't have a TV that's too big. Or spend money on beer. Because I don't understand why people would waste money like that.

3) have funded their retirement accounts to at least 20% of their gross salary

This includes matching?

Guys,

This thread is coming off the rails with the mixing in of retirement talk and car affordability. There's numerous threads that touch on the "can you/can you not afford XYZ" discussions, most of which are current and near the front page of the FFA. Let's keep the pontificating regarding what you should/should not do regarding automobile purchases within those threads.

Assume that people posting in this thread have read through those threads/determined on their own that they can afford what they're looking at and interested in discussing within this thread, and leave it at that within these walls.

 

[fantasycurse42]

Basically, I want to ask two questions...

What is the cap cost & residual value? Then I want to drive the cap cost down and residual value up...

 

[TheIronSheik]

Where can you find out the residual value of a car?

In a lease it's part of your contract. It's based on the expected depreciation of the vehicle under the terms and length of the lease. It's one area you can come out ahead as well. If the actual value of the car at lease termination is greater than the residual value, you can actually purchase the car at residual value then turn around and trade it in and take that equity back.

I should have been more specific. Where can you find the residual value of a car before you lease it? The advice said to get the RV of a car and put it into a lease calculator to know what number to go into the dealership with.

 

[thecatch]

Gotten feedback on the G37, 3 series, TL, & X3...

Are there any FBG's driving a 2013-14 ES 350?

TIA

I'll add another vote to the G37. I got a 2008 G35x and love the ride. Significantly cheaper than a BMW but similar power and performance. Also, in 6 years I haven't had a single problem with the car. By the way, Infiniti now has a pretty cool personal assistant promotion (although not sure if it has to be a new car)

The G37x will be very comparable in price to the 328. The Infiniti will have a ton more power (which is why it's usually compared to the 335) but the handling isn't nearly as nice, IMO. Depends on what you are looking for in a car.

No it won't. There is no more G series sedan so the last manufacturer year is 2013 and the MSRP fully loaded is around $35k now.

Also, the handling isn't the main factor most will point to. The G37 handling is top notch - it's the ride comfort and interior that most tend to point to

I'll defer to you on the latest in new car prices. When I was shopping for a slightly used model in 2011, the G37x was actually slightly more expensive than the 328xi and the inventory was a lot lower in my area. MSRP for the Infiniti new may have been a little lower at the time but they were in the same ballpark.

I don't know what to tell you about the handling. I test drove both extensively and really liked them both but the handling felt a lot more solid in the 328. Ride comfort isn't a huge selling point for the 328 as the sporty suspension doesn't make for a particularly smooth ride. I wouldn't criticize anybody for picking the Infiniti.

 

[tjnc09]

Yeah the point is that you don't know what his financial situation is. He may be in great shape for retirement. It's important to be fiscally responsible and save for retirement but its also important to enjoy your life while you're young. I don't see why it's impossible to have both. If the guy wants a nice car, who are we to judge?

you're right I don't know what his situation is.

But generally speaking someone who's looking to lease or make 5-7 year payments on a vehicle is not doing as well financially as he or she could be doing or is getting ready to make a decision that is going to downgrade, not upgrade their situation.

if you've got the cash to purchase one of those vehicles outright without jamming up your month to month activity I've got zero issue with purchasing something outlandish like a luxury automobile.

I hope you don't have a TV that's too big. Or spend money on beer. Because I don't understand why people would waste money like that.

I don't have a problem with any purchase one makes provided they:

1) have a 6 mo. fully funded emergency fund

2) don't have any non-mortgage debt

3) have funded their retirement accounts to at least 20% of their gross salary

4) are properly insured

5) aren't going into further debt or degrading their financial situation to buy it

So, I don't know if my TV was "too big" and i might have a few beers in the fridge but in my personal situation it doesn't matter because i meet all the criteria for total financial solvency.

And if I decided i had to have a land rover because it fellates me whilst i drive, it would be a waste of money but i'd approve myself on the purchase because the 80K I'd shell out in cash wouldn't affect my monthly budgets in any way.

A lot of home values in major metropolitan areas are now $200k+ upside down. Apparently that is okay as long as that is your only debt.

 

[TheIronSheik]

Yeah the point is that you don't know what his financial situation is. He may be in great shape for retirement. It's important to be fiscally responsible and save for retirement but its also important to enjoy your life while you're young. I don't see why it's impossible to have both. If the guy wants a nice car, who are we to judge?

you're right I don't know what his situation is.

But generally speaking someone who's looking to lease or make 5-7 year payments on a vehicle is not doing as well financially as he or she could be doing or is getting ready to make a decision that is going to downgrade, not upgrade their situation.

if you've got the cash to purchase one of those vehicles outright without jamming up your month to month activity I've got zero issue with purchasing something outlandish like a luxury automobile.

I hope you don't have a TV that's too big. Or spend money on beer. Because I don't understand why people would waste money like that.

I don't have a problem with any purchase one makes provided they:

1) have a 6 mo. fully funded emergency fund

2) don't have any non-mortgage debt

3) have funded their retirement accounts to at least 20% of their gross salary

4) are properly insured

5) aren't going into further debt or degrading their financial situation to buy it

So, I don't know if my TV was "too big" and i might have a few beers in the fridge but in my personal situation it doesn't matter because i meet all the criteria for total financial solvency.

And if I decided i had to have a land rover because it fellates me whilst i drive, it would be a waste of money but i'd approve myself on the purchase because the 80K I'd shell out in cash wouldn't affect my monthly budgets in any way.

You're kind of missing my point. And by kind of, I mean totally. No one's asking you how we should spend our money. What makes you happy may not make others. And what makes us happy, may not make you happy. So it's great that you think you're all set for you future. Hopefully you don't die in a car accident at age 45 because the car you owned didn't have enough pick up to get you out of the way of a speeding Audi driven by a young guy enjoying his money.

 

[Drifter]

Basically, I want to ask two questions...

What is the cap cost & residual value? Then I want to drive the cap cost down and residual value up...

Cap cost is the equivalent of the selling price of the car if you were buying it. You don't buy at MSRP why would you lease based on an MSRP value?

Residual is the expected value at the end of the lease. Higher residual value means lower payments but a lesser liklihood that there is value there for you to purchase the car or that you'll be able to remove some equity. Lower residual will be a higher payment but a higher liklihood of value should you choose to purchase or if you want to get some trade in value at termination.

 

[Drifter]

Where can you find out the residual value of a car?

In a lease it's part of your contract. It's based on the expected depreciation of the vehicle under the terms and length of the lease. It's one area you can come out ahead as well. If the actual value of the car at lease termination is greater than the residual value, you can actually purchase the car at residual value then turn around and trade it in and take that equity back.

I should have been more specific. Where can you find the residual value of a car before you lease it? The advice said to get the RV of a car and put it into a lease calculator to know what number to go into the dealership with.

If you look at the fine print popups on dealer websites, it should tell you what the offer is using for both cap cost as well as residual value. Both these items are fully negotiable.

 

[mquinnjr]

Basically, I want to ask two questions...

What is the cap cost & residual value? Then I want to drive the cap cost down and residual value up...

Yep, capitalized cost is the capitalization of the leased asset on the lessor's books.

To you, the consumer/lessor, interpret this as the sales price you're negotiating for the asset (the car) you're going to lease from the lessor, which is a key factor in the calculation of monthly payment. The lessor subtracts from the capitalized cost the salvage value, aka residual value, aka what the lessor forecasts the car to be worth at the end of the lease period after you, the lessee, "consume" the car, which is depreciation over the term of the lease period.

There are other factors as mentioned previously in play (taxes, money factor, etc.), but in theory the difference between capitalized cost and residual value is what you will need to pay to rent the car and make up the gap for the dealer between the sale price of the asset, and what it will be worth to the dealer when you're done using the asset at the end of the lease term.

 

[BobbyLayne]

Are you moving to the suburbs? If not then surely parking plays into the equation. Do you have a garage for the Maxima, or do you move it 3 times a week?

I live in midtown and pay $200 (w/ taxes) for an indoor lot through our building. Market would be twice that and I'm sure BH is in the high 300s, no? I've paid cash for last four cars so no payment, high deductible insurance and the sweetheart parking makes it easy to justify something I never use more than 3-5 times a month.

I'm guessing you have family & in-laws nearby who like to see there grandchild often. I walk to work and haul the kids around to school & events via public transportation. I rarely use the car as a grocery getter, it's just a weekend escape pod. I suppose you drive over to Red Hook Fairway or Gowanus Whole Foods?

If you're doing alternate side and staying in BH, I'd stick with the Nissan. At 140K you have years of good use ahead. It won't impress anyone but there are more important uses if your money. Regarding BMW, yes the 3 series is an impractical family car, step up to the 5 or go with the Infiniti if you're set on getting something newish.

Alternate Side Parking is only Monday and Tuesday by me... Parking is somewhat easy in comparison to other locations on my block. We usually drive on the weekends, a lot in the summer. When we get home on Sundays I'll find a spot on the Tuesday side and my wife will go move it to the Monday side around 9:30.

We took a ride to Philly last month and the car starting shaking over 65 - I had the wheels balanced and it didn't solve the problem so it has to be something a little more serious. Driving the car, it just doesn't feel safe. The airbag light is flashing, the ABS light is on, service engine light is on, traction control light is flashing, etc. etc. Basically, after beating the #### out of this thing for the last decade, it just doesn't feel safe and I don't want to invest a few K into fixing it... New problems will be around the corner after I fix the current ones.

After doing some HW last night, the 3 series def isn't practical and the 5 series might be a little too expensive to park on the street... Going to compare pricing from an Accord, the Infiniti, & an ES 350 - If the monthly difference is around $100 or less between the Accord and the Lexus or Infiniti we'll go with the nicer car.

Street parking is hell on a car, especially in Brooklyn. Get those rubber attachments for the back and put a diaper on the front. It doesn't matter how you drive/park, the average alternate side parker around the Heights doesn't give a #### and they'll slam into both the car in front and behind while wedging into a parking spot. You know this already, I'm sure you see it all the time.

Accord is the most practical IMO, love the Infiniti you're looking at, all three are great choices. But if you're not ponying up for the garage just make sure you do what you can to protect the bumpers.

 

[fantasycurse42]

Street parking is hell on a car, especially in Brooklyn. Get those rubber attachments for the back and put a diaper on the front. It doesn't matter how you drive/park, the average alternate side parker around the Heights doesn't give a #### and they'll slam into both the car in front and behind while wedging into a parking spot. You know this already, I'm sure you see it all the time.

Accord is the most practical IMO, love the Infiniti you're looking at, all three are great choices. But if you're not ponying up for the garage just make sure you do what you can to protect the bumpers.

I told my wife I might put a hitch on the back this will mess anyone up who hits me from the back... If not, probably just get a bumper protector... I'm trying to find one with some sort of spike that will damage the car who hits me.

For the front we are going to get one of these http://www.amazon.com/BumpShox-XL-Protection-Ultimate-License/dp/B0041LN1L4#productDetails