OT New Vehicle Purchase (by JR [ME]) Jul 31, 2016 5:34 AM
OT New Vehicle Purchase (by RB [MI]) Jul 31, 2016 6:02 AM
OT New Vehicle Purchase (by Ken [NY]) Jul 31, 2016 6:08 AM
OT New Vehicle Purchase (by David [MI]) Jul 31, 2016 6:08 AM
OT New Vehicle Purchase (by David [MI]) Jul 31, 2016 6:09 AM
OT New Vehicle Purchase (by David [MI]) Jul 31, 2016 6:11 AM
OT New Vehicle Purchase (by Homer [TX]) Jul 31, 2016 6:13 AM
OT New Vehicle Purchase (by Tim [IN]) Jul 31, 2016 6:39 AM
OT New Vehicle Purchase (by Jim in O C [CA]) Jul 31, 2016 6:42 AM
OT New Vehicle Purchase (by WMH [NC]) Jul 31, 2016 7:01 AM
OT New Vehicle Purchase (by J.C [ME]) Jul 31, 2016 7:01 AM
OT New Vehicle Purchase (by Vee [OH]) Jul 31, 2016 7:31 AM
OT New Vehicle Purchase (by RathdrumGal [ID]) Jul 31, 2016 7:36 AM
OT New Vehicle Purchase (by AllyM [NJ]) Jul 31, 2016 7:58 AM
OT New Vehicle Purchase (by Barbara [VA]) Jul 31, 2016 8:07 AM
OT New Vehicle Purchase (by Robert,Ontario,Can [ON]) Jul 31, 2016 8:43 AM
OT New Vehicle Purchase (by WMH [NC]) Jul 31, 2016 8:51 AM
OT New Vehicle Purchase (by Ken [NY]) Jul 31, 2016 9:01 AM
OT New Vehicle Purchase (by S i d [MO]) Jul 31, 2016 12:13 PM
OT New Vehicle Purchase (by Chris [CT]) Jul 31, 2016 12:56 PM
OT New Vehicle Purchase (by Beth [WI]) Jul 31, 2016 1:00 PM
OT New Vehicle Purchase (by David [MI]) Jul 31, 2016 2:07 PM
OT New Vehicle Purchase (by Robert,Ontario.Can [ON]) Jul 31, 2016 2:49 PM
OT New Vehicle Purchase (by Ray-N-Pa [PA]) Jul 31, 2016 2:52 PM
OT New Vehicle Purchase (by Sisco [MO]) Jul 31, 2016 3:18 PM
OT New Vehicle Purchase (by Chris [CT]) Jul 31, 2016 5:11 PM
OT New Vehicle Purchase (by LivetheDream [AZ]) Aug 1, 2016 12:15 AM
OT New Vehicle Purchase (by nhsailmaker [NH]) Aug 1, 2016 3:10 AM
OT New Vehicle Purchase (by Robert,Ontario,Can [ON]) Aug 1, 2016 11:13 AM
OT New Vehicle Purchase (by nhsailmaker [NH]) Aug 1, 2016 2:19 PM
OT New Vehicle Purchase (by Robert,Ontario,Can [ON]) Aug 1, 2016 3:40 PM
OT New Vehicle Purchase (by Chris [CT]) Aug 1, 2016 5:49 PM
OT New Vehicle Purchase (by Mark [OH]) Aug 2, 2016 1:53 PM
OT New Vehicle Purchase (by don [PA]) Aug 2, 2016 8:48 PM
OT New Vehicle Purchase (by NewInvestor [OK]) Aug 3, 2016 7:46 PM
OT New Vehicle Purchase (by JR [ME]) Posted on: Jul 31, 2016 5:34 AM Message:
I know we landlords tend to be frugal types. I am very well off financially, and except for a moment of weakness way back in college, I have never purchased a new automobile/truck in my life. While I could afford to now, I would never be able to justify to myself the extra expense and crippling depreciation that goes along with new vehicle ownership. I purchase used vehicles for cash, from private sellers, and rarely spend more than $10,000. I shop from Craigslist, and have travelled across the east coast to pick up what I am looking for. It is amazing to me how great a bargain one can get if one is flexible in terms of timing, color, etc.
I know others feel differently, so I ask, what type of cars do you purchase and why? --166.182.xx.xx |
OT New Vehicle Purchase (by RB [MI]) Posted on: Jul 31, 2016 6:02 AM Message:
Cars. (4 cylinders)
One owner specials. (install a trailer hitch)
A 5'x 8' Utility trailer is used for materials / junk.
There are 90% more Pick- ups going down the road empty
versus carrying a load. (Cowboys without Stetsons)
Utility trailer sales are increasing as more people
figure this out.
When your not concerned about an image, you can make due
with a lot less and still get the job done.
--24.180.xxx.x |
OT New Vehicle Purchase (by Ken [NY]) Posted on: Jul 31, 2016 6:08 AM Message:
I put a lot of miles on a vehicle.I buy older trucks with low miles then wear them out in a few years.I am currently driving a 97 chevy S10 with a nice cap on it,I bought it 2 1/2 years ago with 42000 miles and already have 106000 miles on it,I paid $3000.Like you said I am flexible as far as brand,color etc because I don't really care.What I do care about is that it was being used fairly regularly since if you let it sit that will cause problems.I check craigslist and want ad digest when I start looking. --24.25.xxx.xxx |
OT New Vehicle Purchase (by David [MI]) Posted on: Jul 31, 2016 6:08 AM Message:
" It is amazing to me how great a bargain one can get if one is flexible in terms of timing, color, etc."
You can say the EXACT same thing about buying new, leasing or financing. ANd not have to deal with the uncertainties of buying used.
Paying 10k cash is a poor financial move compared to leasing or financing at today's rates
--104.1.xxx.xx |
OT New Vehicle Purchase (by David [MI]) Posted on: Jul 31, 2016 6:09 AM Message:
Take a look at the blog leasehackr.com --104.1.xxx.xx |
OT New Vehicle Purchase (by David [MI]) Posted on: Jul 31, 2016 6:11 AM Message:
Ken, how could a 16 to 17 year old truck have only 42k miles on it? --104.1.xxx.xx |
OT New Vehicle Purchase (by Homer [TX]) Posted on: Jul 31, 2016 6:13 AM Message:
We have always had at last one car we purchases new. Usually keep it for 7-10 years before buying another. Out of the 8 cars my wife and I have now, 3 we purchased new. One of them two years ago, the sports car I always wanted, camaro ss convertible. It has a big ol American v8, that will fly. My new truck was 3 years ago, just because I wanted one. Why not, I have cash cows scattered all over town, and I can afford it. Live below your means, as we still do, even though we have so many cars. 5 of them are collector cars which I enjoy tinkering with and cruzing around town. --75.141.xxx.xxx |
OT New Vehicle Purchase (by Tim [IN]) Posted on: Jul 31, 2016 6:39 AM Message:
For the apts, we just purchased a 2 yr old ram promaster. New, 30k. Paid 20k. More than we normally pay for a vehicle, but we figure this should last 10+ yrs. We only put 8k miles on a year.... --166.137.xx.xx |
OT New Vehicle Purchase (by Jim in O C [CA]) Posted on: Jul 31, 2016 6:42 AM Message:
Bought a new Mercedes diesel 240D and drove it for 310,000 miles for 16 years . My wife's used 300 D went 280,000 and only 15 years. I think you get your money's worth the longer you can drive them. --108.196.xxx.x |
OT New Vehicle Purchase (by WMH [NC]) Posted on: Jul 31, 2016 7:01 AM Message:
David/MI, we purchased a new work van for zero percent interest. We were going to pay cash but at that rate, why??
And we got to deduct pretty much the entire purchase price the year we bought it.
The rates on used vehicles were much higher, and the purchase price was only a few thousand dollars difference!
We hadn't shopped for a new vehicle in YEARS so we were shocked at how much better a deal the new vehicle was compared to used.
People talk about the depreciation on a new vehicle, but if you intend to keep it forever, what do you care what it's technically "worth?" --173.22.xx.xx |
OT New Vehicle Purchase (by J.C [ME]) Posted on: Jul 31, 2016 7:01 AM Message:
I drive a 94 2wd toyota pickup 4cyl with about 170k miles. Always starts and is almost as cheap as a bicycle to drive. My family owns 2 dealerships and I always get a laugh driving in to work. --70.192.xx.xx |
OT New Vehicle Purchase (by Vee [OH]) Posted on: Jul 31, 2016 7:31 AM Message:
I had to retire my 96 ford 250 van, it was kinda young with 325k miles but the metal moths had taken away the body supports so 1 morning I turned a corner and the steering shaft pulled completely out of the gearbox - a fun time jacking it back together so I could get back to the shop, found a larger one and had the mounts welded stronger before transferring the repair goodies... --76.188.xxx.xxx |
OT New Vehicle Purchase (by RathdrumGal [ID]) Posted on: Jul 31, 2016 7:36 AM Message:
When I moved to Northern Idaho, I needed a AWD car as I commute to the hospital over snowy roads. I have always been of the "buy a 2 year old low mileage car for cash and negotiate like hell" school of thought. I found a website where you put in specifics of the vehicle you want to purchase, and how far you are willing to travel to purchase it. They send you emails of cars that fit your criteria from area dealerships. I printed out a stack of these emails and went shopping. I ended up getting a great deal on a 2 year old Subaru from a BMW dealer. The car was perfect except for an inexpertly repaired windshield ding. The salesman told me that the fact that I had a stack of emails from this website helped my negotiating. They saw I was holding the emails when I used them to make notes on each car. I would never have shopped at a BMW dealership if this service had not directed me there. The Beemer dealership also said that if I hadn't bought the car they would wholesale it to a Subaru dealer. I cannot remember the name of the email service, but I am sure it could be found. --98.145.xx.xxx |
OT New Vehicle Purchase (by AllyM [NJ]) Posted on: Jul 31, 2016 7:58 AM Message:
I have purchased useful vehicles from my first, a VW bug tat was used to get to my teaching job. I wore that out.
Then I bought a used Chevy from my husband's aunt's estate. It was a Nova and I drive it around and it looked shabby and then I sold it.
I bought a Bronco II in 1989 since I had to travel twenty miles to my job and it does snow here. Of course after that there was no snow for years.
I bought a new van for the LL business and also to double as Mom's handicap van and I had a ramp put in the side.
I bought a new Taurus wagon before the van since it would transport Mom's wheelchair when she could still move enough to get into the low vehicle. It also carried a piece of plywood or other similar.
Mom and Dad had a big Olds Diesel wagon and I also used that to transport paneling and plywood. Sold that to a kid that was repairing vehicles.
From the money I saved by doing all the yard work I bought a Ford Explorer which carried a lot of stuff and the Taurus carried the plywood but the Explorer is great in snow and has actual four wheel drive. I bought it used at two years old and it was the dealership's manager's car. It is a 2008 and only has 27 thousand miles on it now.
Then I needed a reliable new car to be an ambulance for me and my dogs. It had to be new to give me confidence so I got a new Subaru Forrester. I transported my little dog for many treatments and they overtreated her surgically for cancer last year on this very week and she passed. They should have told me it was too much surgery but they wanted the money. I can still see them all dancing around the issue trying to hint but not coming out and saying it.
I like the Subaru but it bounces around too much on ice.
In the meanwhile back there somewhere with the Chevy Nova, I was driving past a car place and saw a red Porsche 914 I think it was. My husband had a 944 I think it was. It was really pretty cheap because it had a bullet hole in the fender. I drove it a lot and it was fun but if you drive a Porsche, it breaks. My former husband said that and he bought his new.
So that's my car story. I have the Soob and I have the Explorer. I might get a new Soob in December or I might not. --73.33.xxx.xxx |
OT New Vehicle Purchase (by Barbara [VA]) Posted on: Jul 31, 2016 8:07 AM Message:
Usually all I care about is cheap and semi dependable. However, I did use cash to purchase a brand new truck in '07. I got a great deal on it. Still driving the truck now, and still absolutely love it. It's still running great, and I haven't had any issues with it beyond normal wear and tear type stuff. I see myself driving the truck for many more years, as I love the truck as much as the day I got it.
So, I don't see where buying new is always a bad thing. --68.107.xxx.x |
OT New Vehicle Purchase (by Robert,Ontario,Can [ON]) Posted on: Jul 31, 2016 8:43 AM Message:
A smaller pick up truck is useful for trips to the dump along with carry tools and appliances. If one needs to carry more then adding a trailer is option where when one needs to carry more. One has to weight the depreciation over the first three years to see if it worthwhile. Most vehicles depreciate a lot within the first three years. --74.220.xxx.xxx |
OT New Vehicle Purchase (by WMH [NC]) Posted on: Jul 31, 2016 8:51 AM Message:
But...unless you want to sell it...who cares about paper depreciation, Robert? --173.22.xx.xx |
OT New Vehicle Purchase (by Ken [NY]) Posted on: Jul 31, 2016 9:01 AM Message:
David(MI)You would be surprised what you can find if you look around and are not in a hurry.It was owned by the second owner who had it about 10 years and only took it out every couple weeks to take garbabe to the dump just a few miles away.When I start looking I have weeks before I need something and I don't care about brand as long as American made and I don't care about color,minor rust etc but when you find it you need to be ready to buy it right away because they don't last very long --24.25.xxx.xxx |
OT New Vehicle Purchase (by S i d [MO]) Posted on: Jul 31, 2016 12:13 PM Message:
I pay cash for decent used vehicles. My work truck is a 2002 Dodge Ram 1500 with trailer hitch and shell on the bed. Bought it 16 months ago for $3500. Total maintenance costs so far is $12 for spark plugs + 1.5 hours of my time to install. If it dies tomorrow, I've more than gotten the value out of it. The savings from carrying liability insurance only and low property taxes are also significant. --173.19.xx.xxx |
OT New Vehicle Purchase (by Chris [CT]) Posted on: Jul 31, 2016 12:56 PM Message:
My work truck is a 2015 Ram 1500, paid $32,500 for it. I'm paying cash for it as well, just over 5 years at 0% interest, thanks FCA financial!
I work hard so I don't have to mess with old stuff. I'll run the Ram to 100k or so and buy another new truck. --67.82.xxx.xx |
OT New Vehicle Purchase (by Beth [WI]) Posted on: Jul 31, 2016 1:00 PM Message:
Last 2 vehicles purchased: brand new Subaru Forrester at the cheapest price possible (zero extras of any kind) and a Honda CR-V with close to 200K.
We live in the country and get a fair amount of snow. That, and I am not getting any younger and wanted a good, reliable snow vehicle. I had a severe ankle fracture 2 years ago and that has changed my mindset forever on feeling young and being vulnerable.
The nearly 200K Honda I bought from my boss. Couldn't negotiate a lower price since it was my boss but was worth it knowing it had been well-maintained.
So, a combination of safety and frugality dominated the decision of the last 2 purchases. --24.181.xxx.xx |
OT New Vehicle Purchase (by David [MI]) Posted on: Jul 31, 2016 2:07 PM Message:
A couple weeks ago I helped my dad buy a new small SUV. We looked in the newspaper ads and found a nice price from one dealership. Then I take this ad to closer dealerships and try to get them to match. two out of the first three we went to were able to match the price and we went with the one in the suburb I have most rentals in.
No worrying about the condition of the car, how many miles etc. and they took a personal check for the full amount.
I don't know anything about cars and I don't feel like learning for something I don't plan to own more than 2 of at one time. --104.1.xxx.xx |
OT New Vehicle Purchase (by Robert,Ontario.Can [ON]) Posted on: Jul 31, 2016 2:49 PM Message:
In some areas the vehicles never operate during the winter where they use road salt. In those areas the vehicles do not rust out. Find North American vehicles depreciate faster then other vehicles. European and Asian vehicles depreciate faster in the six to ten year range. Here parts are very expense on those vehicles as there is heavy duty on parts. Even with dollar around 75 cents it is still cheaper to buy parts in the Us as there is no duty on those parts. Usually the part will cost approximately half. --74.220.xxx.xxx |
OT New Vehicle Purchase (by Ray-N-Pa [PA]) Posted on: Jul 31, 2016 2:52 PM Message:
Two months ago I bought an three year old Escape from the federal government. There is a large car auction over in Akron that sells them.......so I avoid the location where there would be lots of buyers. Instead I had to drive to just outside of Columbus. The NADA on the thing was between 12-15 and I was able to get it for $7,750. But there is a risk with buying this way so you have to do your homework.
Knock on wood, I am very happy with the thing.
In the snow belt NWPa, AWD is an absolute requirement.
My other vehicle is a small Ranger. I typically drive a truck until it dies. The ranger doesn't drive well in the snow so it is only a three and half season thing. --72.23.xxx.xxx |
OT New Vehicle Purchase (by Sisco [MO]) Posted on: Jul 31, 2016 3:18 PM Message:
I buy new. I used to drive 70k miles per year and would buy new every 12 months. Nowadays I buy every 48 months.
If you option the vehicle well and keep it in top condition, used car values have been very high the past 6-8 years.
New cars are like everything else...your buy/sell largely determines how much the vehicles cost was.
--72.172.xxx.xx |
OT New Vehicle Purchase (by Chris [CT]) Posted on: Jul 31, 2016 5:11 PM Message:
Last winter the guy who does my site work got one of those "we will buy your vehicle!!" letters from the GMC dealer he bought his truck from.
Since it was winter he had time and on a lark took the truck to them, its a 2011 GMC 1500 regular cab, short bed. But it has lots of options he paid around $31k for it, 5 years ago. It has about 30k on it.
They offered him $22k.
With the tax write offs they give you, a new one would have been a wash.
Vehicles deprecate very slowly these days. --67.82.xxx.xx |
OT New Vehicle Purchase (by LivetheDream [AZ]) Posted on: Aug 1, 2016 12:15 AM Message:
Well I go a little different. My work truck is a 1980 F100 that I bought used in 1984 for $1,800. We are starting the third major restoration, when done I will maybe have $8,000 in this truck after driving it 300,000+ miles on two engines. Insurance has skyrocketed to $160 a year.
My company car I RENT a truck from Enterprise. Straight monthly rental. I get a new 4x4 Super Crew two or three times a year and they sell the old one. I don't like headaches. It is also a business expense rather than depreciated.
Our personal around town car is a 2002 Mitsubishi with 165,000. We are going to replace it soon. Probably with a new Explorer 4x4.
I like new cars. The most important miles are the first 50 and first 500, followed by first 5,000. I change oil at 50, 500, 1,500, 3,500 and every 3,500 after.
My rice rocket's oil still looks golden and it runs like a sewing machine after 14 years. Desert sun killed the paint in 4 years though.
--64.134.xxx.xx |
OT New Vehicle Purchase (by nhsailmaker [NH]) Posted on: Aug 1, 2016 3:10 AM Message:
I will never EVER buy a FORD EVER again, Had used FORDS and then a new FORD and I will NEVER EVER buy a FORD again. NEVER NEVER NEVER ! Bought a new TOYOTA and I will drive that forever and even if I do buy another car it will be a Toyota and I will keep the old one in the garage to use as a generator (prius) . I am with RB from MI and I use trailers - not trucks. I like my 50 MPG without trailer and 33MPG with the full trailer. Did I say I will never EVER buy a FORD !!!!!!!!!!again --96.61.xx.xx |
OT New Vehicle Purchase (by Robert,Ontario,Can [ON]) Posted on: Aug 1, 2016 11:13 AM Message:
While my Ford Ranger is good vehicle it is far from the best vehicle on the market. The only positive is they depreciate more then Toyota or Nissan. Here the parts for Toyota and Nissan are extremely expensive as there is a large duty on parts. Found that Toyota or Nissan do not depreciate much in the first three years. Standard shift vehicles are often $3,000 less then a automatic as many buy a second vehicle which the wife can drive. The F series outsells the competition by two to one. So there is easy answer here. Domestic vehicle manufactures are favoured here as parts and service is easier along with fact one can buy parts from the wreckers. While domestic manufacturers have improved some say they are never as good as Toyota or Nissan. --74.220.xxx.xxx |
OT New Vehicle Purchase (by nhsailmaker [NH]) Posted on: Aug 1, 2016 2:19 PM Message:
PS - I will Never - ever buy GOODRICH TIRES Again - NEVER NEVER NEVER NEVER NEVER NEVER NEVER NEVER NEVER --96.61.xx.xx |
OT New Vehicle Purchase (by Robert,Ontario,Can [ON]) Posted on: Aug 1, 2016 3:40 PM Message:
Found Michelan to be best tires where Goodyear is ok. With 4X4 one will have to change all the tires at the same time if there is a different tread. Pick up trucks use larger diameter tires where the tires last longer then car tires. Found if one does basic maintenance on a vehicle then the vehicle will last longer. On the truck every 5,000 kilometers the oil and filter is changed. Found synthetic to be better. Synthetic flows better when the oil is used close to the change interval. One can easily get 500,000 kilometers or more out of vehicle. Some vehicles here reached one kilometers where still running. Spark plugs replaced at 100,000 kilometers. Last week changed the air filter. Oil is the primary cooling of a engine where when oil fails the engine is finished. After 200,000 to 300,000 kilometers tie rods along with suspension components start to fail. Parts on vehicles have a certain life expectancy. --74.220.xxx.xx |
OT New Vehicle Purchase (by Chris [CT]) Posted on: Aug 1, 2016 5:49 PM Message:
I enjoy watching the flat beds of Toyota truck frames that they bring into our local Toyota dealer.
They have not really figured out rust proofing yet. --67.82.xxx.xx |
OT New Vehicle Purchase (by Mark [OH]) Posted on: Aug 2, 2016 1:53 PM Message:
I see a lot of people talking about their great deals by financing 0% and having worked in auto finance in my past, you people might have been played :-/
Often, you will see offers that look like this:
Buy this truck! Get 0% financing or $4,000 off the purchase price for 48 months! They don't automatically tell you that the dealership can still get you that $4,000 off if you pay cash or finance through an outside bank (because it looks like cash to the manufacturer)
So, quick back of the envelope math assuming you take the additional $4,000 off on a $40,000 vehicle (so $36k financed) at 2.99%, for the life of the loan, you will pay $1,469 in interest if you hold the note to term. So, you're getting the vehicle for $37,469.
If you took the manufacturer financing, you're paying $40,000 over 4 years. How the hell is that 0% financing a better deal!?!?!
Some of you probably did get 0% financing where it was advantageous. However, if you're actually considering a new purchase, that 0% or low interest manufacturer financing sounds great, but rarely is. --151.145.xxx.xx |
OT New Vehicle Purchase (by don [PA]) Posted on: Aug 2, 2016 8:48 PM Message:
The biggest depreciation hit in a new car is in the 1st 2 years. Heck, it loses 20% as soon as it leaves the lot and is no longer "new." When you do 3 year leases, you are taking that hit over and over and over again. There is no way around that.
As far as trailers, I am also a big fan. I started off using one out of necessity when I had no truck and could not afford one. Now, I have a Ranger with upgraded suspension, a Jeep liberty which tows like a Mack truck, and my 4 by 8 foot utility trailer which I have rebuilt 3 times at least. The trailer holds 2000 lbs., and doubles my Ranger's capacity. It is still small enough to maneuver by hand when not filled to capacity. When I hitch it to the Jeep, I can carry 4 guys AND supplies. --73.141.xxx.xxx |
OT New Vehicle Purchase (by NewInvestor [OK]) Posted on: Aug 3, 2016 7:46 PM Message:
LTD,
Obviously you like your long term rental trucks as I remember you mentioning them before. You have caught on to what big companies often do with lease expense vs keeping assets on their balance sheet and the depreciation hassle. I digress.
In any case, can you tell us more about it? Cost, discounts over time, hassle factor, etc.? Thanks --72.192.xx.xxx |
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