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re: When would you all recommend getting a new car?
Posted on 9/12/23 at 2:00 pm to tigeralum06
Posted on 9/12/23 at 2:00 pm to tigeralum06
quote:
must not know many women
Extremely underrated reply...2nd upvote.
Posted on 9/12/23 at 2:24 pm to soccerfüt
quote:
It's a differential equation solution of multiple variables, definitely not an arithmetic problem.
Fully agree. It's also something that isn't widely considered by many. I would also add that there are other factors to consider as well. Primarily safety increases over time but also comfort, which is very individual specific.
Posted on 9/12/23 at 3:47 pm to justaniceguy
Agreed. People still have it in their minds from 50 years ago that 100k miles is the end of life for a car.
Posted on 9/12/23 at 3:59 pm to Civildawg
If she’ll be happy with it for 10 yrs and you can afford it, get it. Might not be the best financial decision but that is how I look at new vehicle purchases.
Posted on 9/12/23 at 4:04 pm to LSUTitan99
quote:
Great point. I did fail to mention we are trying for our second child.
In that case, you may want to put that $25k aside for things you might actually really need.
Posted on 9/12/23 at 4:08 pm to LSUSports247
quote:
I often wonder how much do you actually save by driving a vehicle longer.
Wonder no longer. The longer you drive it the more value you get out of it.
A new car is never the answer to "save money." For gas or anything else.
A late model Explorer with 100k on it needs to go "because we have a kid?" Wtf.
Posted on 9/12/23 at 4:23 pm to LSUTitan99
I won't criticize your financial decision of buying. But I can say there are deals to be had on Expeditions. Also, buy the big one. Good chance you will eventually want the extra room, little chance you will regret having too much. If you have kid 3, you'll be ready.
Ford also has good financing deals currently. Don't put the 25k toward the car. Trade, get that sweet 2% and steal the difference in interest. Keep $ for rainy day
Ford also has good financing deals currently. Don't put the 25k toward the car. Trade, get that sweet 2% and steal the difference in interest. Keep $ for rainy day
Posted on 9/12/23 at 5:03 pm to questionable
Consider a Honda Odyssey.
Posted on 9/12/23 at 5:40 pm to LSUTitan99
quote:
she has a ford explorer with around 100k miles and it is time for us to upgrade since we have a kid)
How big is the kid that he can't fit into an Explorer?
Seriously, only 100K on the Explorer and only 1 kid? If it was me, unless there was anything wrong with the Explorer mechancially, I would bank the $25,000 and drive the Explorer for another 100,000 miles.
Posted on 9/12/23 at 5:53 pm to lsujro
quote:
But I can say there are deals to be had on Expeditions.
Can you elaborate here? Genuinely curious as I'm considering an Expedition.
Posted on 9/12/23 at 6:25 pm to LSUTitan99
100k miles is nothing on a vehicle today. Save the money
Posted on 9/12/23 at 6:37 pm to LSUTitan99
quote:
Her car is just worn down and she really wants something like a Tahoe or Expedition.
So she doesn't NEED a new car. She WANTS a new car. The smart thing to do is to put that $25,000 into something short-term and generate a return until you actually NEED a new vehicle. Prices *may* have come down by then.
Posted on 9/12/23 at 6:57 pm to Burt Orangello
quote:
Prices *may* have come down by then.

Posted on 9/12/23 at 7:00 pm to Jag_Warrior
quote:
For example, someone who traded a lower mileage vehicle at say year 3 would take a huge depreciation hit, while the value was also still in decline. But maybe at year 8, the depreciation had dramatically slowed and the value had reached a relative low point.
It isn't a terrible idea to buy a three year old car that was originally leased. Providing you have a thorough inspection to find any unexpected issues.
You would avoid the worst of the depreciation. I have a friend that does this with Lexus every few years.
Posted on 9/12/23 at 7:24 pm to molsusports
I agree. As the buyer, the situation is the flip side of the seller’s. Your friend is probably getting the best of both world’s: avoiding the initial depreciation hit and getting relative valuation stability by year 3 or so. Smart move.
An acquaintance of mine, who I’ve known for about 10 years, does just the opposite. He trades vehicles every 2-3 years and buys a new vehicle. In the time I’ve known him, I’m fairly certain that I could have bought a nice Porsche 718 or Vette for what he’s lost in total depreciation and dealer markups. Only his pension and his wife’s salary allow them to roughly out earn their stupidity when it comes to money matters. They’re both financial idiots (although very likable people - we can discuss his boat later.
)
An acquaintance of mine, who I’ve known for about 10 years, does just the opposite. He trades vehicles every 2-3 years and buys a new vehicle. In the time I’ve known him, I’m fairly certain that I could have bought a nice Porsche 718 or Vette for what he’s lost in total depreciation and dealer markups. Only his pension and his wife’s salary allow them to roughly out earn their stupidity when it comes to money matters. They’re both financial idiots (although very likable people - we can discuss his boat later.

Posted on 9/12/23 at 7:44 pm to Jag_Warrior
quote:
An acquaintance of mine, who I’ve known for about 10 years, does just the opposite. He trades vehicles every 2-3 years and buys a new vehicle.
I see this too. Worst possible value for the buck.
quote:
we can discuss his boat later
Boats are just killers. Not just the tens of thousands (or hundreds of thousands) of purchase price. The costs of maintenance, docking, insurance, and repair are enormous.
I see way too many middle class or lower upper class people destroying themselves financially (without even realizing) with what is a luxury purchase. Renting a charter is probably the best option for the ten or fewer times a year that recreational boaters get out on the water.
Posted on 9/12/23 at 9:25 pm to LSUTitan99
It sounds like your 4 runner just sits in the driveway most of the time. I'd put my wife and kids in the low mileage 4runner and let the explorer sit in the driveway. And keep the 25. Just me though
Posted on 9/12/23 at 9:36 pm to tigeralum06
quote:
You must not know many women.
I'm married with an 7 week old, I know.
But again zero reasonto get a body on frame big honking SUV with 1 kid unless there's some massive towing requirement.
We have a MDX 3 row literally at our parents right now and filled up the trunk with 3rd row DOWN very easily with 1 newborn on the road trip here

I get wanting a bigger 3 row SUV even with 1 or 2 kids for the crap you can haul/friends etc...but there's zero need to get the yukon/tahoe/expedition class unless you DO tow very heavy things (5000+ lbs) fairly regularly, because they get significantly worse fuel economy and cost way more than equivalent car based 3-row SUVs like the Pilot/Pathfinder/Telluride/Palaside class 3 row types. Heck even those can typically tow 3500-5000 lbs. MY friend has an Acadia he uses to tow his 20 foot bowrider a couple times a year and it's probably around 4000lbs with trailer and it gets the job done.
People overbuy on vehicles like Expeditions/Yukons for no reason and they cost way more than the unibody models which typically have just as much room inside (short of the long wheelbase models) with better fuel economy.
This post was edited on 9/12/23 at 9:42 pm
Posted on 9/14/23 at 9:52 am to skewbs
I believe for the entire month of September they have 1.9% financing for 5 years (if you have good credit of course). I also found a dealer in TX offering $5k+ off sticker. In today's environment, I considered it a decent deal. Also the XLT has almost everything you could want on a vehicle for much less than the higher end trims. So for ~$60k you can get a new XLT with leather, chilled seats, lane keep, etc. Again, I recommend the big one.
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