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kc17

Might be car shopping soon, anyone selling?

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I know, I know horrible time to be shopping. If it happens, it will not be by choice, trust me.

Wife's car got hit at high speed in a parking lot. Everyone is fine, she was in a store when it happened. Her car was pushed into the car parked in the next stall over, both cars pushed over a good 8-12 feet. I think it's borderline on being totaled. The inner body frame was pushed in so far that it broke the interior panels. Woman jumped an island in reverse with an SUV, so our car was hit up higher than a typical hit would have been. 

Wife just started taking online classes to get her Master's Degree. Can't swing that and a car payment, so if it is totaled, she wants to buy something to get through one-two years until she's done. I don't want to buy someone else's headache, but would be willing to buy something with a known and documented history. I also don't want to pay stupid money for used. If I'm going to pay stupid money I'd rather be stupid with her in a new car. 

Budget would be based on insurance payout, I'm thinking minimum in the range of $15-$20k. Offending driver stayed on the scene, she was even the one to call the cops. She did have insurance, so payment ultimately will come from her company, and I'll be pushing my adjustor for a high payout. I'll probably push for $30k, call it a COVID surcharge, why not, everyone else is doing it? Would prefer a larger sedan/hatchback or CUV/SUV, she needs to haul stuff back and forth to her job (teacher). AWD would be a bonus.

 

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6 hours ago, kc17 said:

I know, I know horrible time to be shopping. If it happens, it will not be by choice, trust me.

Horrible is an understatement, probably the worst time in history to be shopping for a new or used vehicle, aside from the war years.

Get ready to fork over big time.

https://wolfstreet.com/2021/12/16/the-inventory-supply-mess-of-new-used-vehicles-in-dollars-and-units/

 

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Brother In Law is an Asst GM at a Ford dealer and is as honest as they come.  He said that inventory is so low and demand is so high they have no choice but to ask and get sticker.  Also, if you finance through Ford they have more flexibility on price but if you have your on financing or even cash, the out the door price goes up because they are making money on the financing as well.

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I've accepted if I buy from a dealer I'll be paying sticker. I worked long enough at a dealership in a previous life to know a few things, and I know they basically get a kick-back from the banks when financed. I also get the whole supply & demand thing. I don't think I'm willing to pay over sticker; unless my insurance payout is over book value an equal percentage.

I contemplated a lease, the monthly payment always looks good, but it's essentially a long term rental and you're left with zero equity at the end. That just doesn't seem to make financial sense to me. Especially a short term (~18 month) that I'd be after. Maybe for a business, but not personal use. I've also heard too many bad lease experiences. I did stumble across those "take over my lease" deals. That might be a possibility, as long as the factory warranty doesn't expire before the end of the term. If the payout is high enough, I might be able to set aside enough of that to cover the remaining tuition, then put the balance towards a down payment for a purchase. I'm probably being too hopeful on the payout amount though. 

Car arrived at the body shop yesterday. This shop is a "partner" with my Insurance company, which means the insurance company doesn't send their own rep. The shop is pre-approved and trusted to make the decisions. I'm going to go there today to see the car in daylight and talk to the advisor. With any luck he can give me a definitive answer on repair or total without going through the full tear down and inspection process. I just want to know if I need to find a replacement or not. Right now that's the worst part for me. Then it's on to the payout or how long of a repair. I'm no expert, but I'd think minimum a month, that's without any supply chain issues. A friend's neighbor recently waited three months due to delay on a part. 

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31 minutes ago, 45Doll said:

It certainly is a mess. I've been looking for a used cargo van to convert to a camper van, since the beginning of the year, prices have climbed $10K all year. Vans that are a few years old with like 60K miles, sell for close to what their sticker price was new. It's nuts.

Also been looking for a new SUV for wifey. The lack of inventory is stunning. Trying to find the model with the configuration she wants is virtually impossible.

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7 minutes ago, Sniper said:

Vans that are a few years old with like 60K miles, sell for close to what their sticker price was new. It's nuts.

Our Rav4 LE lease is up in February. I checked out the average price for a used 2019 with 16K miles, and it was just about the sticker price when new.

So, we could have bought the car in 2019, used it for three years, then sold it for what we paid for it and avoided all the lease interest.  Maybe we even would have made a few dollars. Who knew?

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1 hour ago, 45Doll said:

So, we could have bought the car in 2019, used it for three years, then sold it for what we paid for it and avoided all the lease interest.  Maybe we even would have made a few dollars. Who knew?

I had bought wifey a new Subaru BRZ in the Spring of 2019, as a retirement present. In the two and a half years we had it, she didn't drive it much, like 10K miles. She preferred her Jeep. So I sold it last month (to a dealer), and got just about what I paid for the car (not counting sales tax, tags).

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In 2012 I  bought a 2013 Taco for $26,600. Traded it in this past summer for a value of $23,000. Got a new 2021 Upgraded Taco for $8,000 out of pocket. What's even cooler is in FL that 23K if applied to a trade in is state sales tax free.

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1 hour ago, siderman said:

2013 Taco

Wow, Mexican food is really expensive in Florida..:scratchhead:

1 hour ago, Bomber said:

Can't you buy out the lease then turn around and sell the car for a profit?

I believe most leases have a buy-out price when they are written. I guess it depends on the market at the end of the lease if that price is worth it.

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2 hours ago, Sniper said:

I believe most leases have a buy-out price when they are written. I guess it depends on the market at the end of the lease if that price is worth it.

I bet he could buy out that lease and pocket a few grand if not more at resale. 

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3 hours ago, Bomber said:

Can't you buy out the lease then turn around and sell the car for a profit?

 

1 hour ago, Bomber said:

I bet he could by out that lease and pocket a few grand if not more at resale. 

Yes, we are looking at that. I suppose I could put up a 'feeler' ad on the board to see if anyone's interested. Not sure if that's kosher though.

We might actually recoup all the lease costs. I've run a spreadsheet on this but Mrs. 45Doll and I have a few options to iron out to decide what to do next. Buying the vehicle for ourselves is on the table, given replacement vehicle availability.

Thanks @Bomber If we decide to flip it this board will be the first to know!

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1 hour ago, kc17 said:

Anyone have a Mazda CX-5 or CX-9?

Do they live up to all of the hype on handling and reliability?

 

We have 2016 CX5, more my wife's car. I tease her that it's a waste on her lol, that car is way to peppy and agile for her style of driving. For what it is it's pretty quick ,handles great and is designed for sportier driving. Also it's very safe, at least for us. This is our second one as the first 2015 was totaled   after an ahole ran a Red light and and did a 50mph header at an intersection. Wife and her sister sustained only seatbelt injuriis and minor at that. Took ins money and got the current 2016. Back seats can be a bit tight getting in/ out and I'm not fond of the overall cockpit feel but all in it's a great vehicle. 

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Glad to hear it protected your wife in the accident.

We're going through Enterprise for the rental. They'll allow us to exchange cars as often as we want, but they haven't had much of a selection. I think she'd appreciate the better handling, she can drive enthusiastically at times. I've always like the styling, especially the front end. I can't recall why we ruled out Mazda when we bought this car. Possibly price. We're both picky about interior comfort, obviously that's very subjective and can't tell by pictures. 

It looks like the Mazda turbos require premium gas? She wouldn't like that. 

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8 minutes ago, kc17 said:It looks like the Mazda turbos require premium gas? She wouldn't like that. 

I don’t think it’s *required* but the timing can be advanced to use it. Even my Focus ST can pull enough timing to use 87 because mfrs know people are morons and don’t pay attention 

if premium was 12% more expensive but it gave you 25% more power and mileage why wouldn’t you?

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5 minutes ago, Shocker said:

if premium was 12% more expensive but it gave you 25% more power and mileage why wouldn’t you?

I would run what the engineers designed it to run, so would my wife, just like she did when she had other cars that required premium. She tends to focus more on price and mpg than I do though. She's the more financially responsible one in our relationship. That's why she's still pushing against a car payment at all. I'd rather have a fixed monthly payment with lower risk of surprise repair bills.

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1 hour ago, kc17 said:

 That's why she's still pushing against a car payment at all. I'd rather have a fixed monthly payment with lower risk of surprise repair bills.

Self insure. Put the money saved on car payments into separate account for the outside chance of an unexpected repair bill.

Chances are if you buy a model with a proven reliability history you won't need it any time soon.   

Also, if repair bills are an issue stay away from models with complicated and expensive to repair drivetrains. 

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Preliminary estimate came in from the body shop. I'd be shocked if the insurance company doesn't total it. 

Stopped in at a few dealers today. Only asked one guy about pricing, he said the price on the sticker is the price, that was for used, he had nothing new that we were interested in. Guy at Dayton Toyota asked if I knew about the "premium pricing"; they're tacking on an extra $3-4k on top of everything. I told him I understood that was the dealer's business decision, and I'd be willing to pay sticker but not over. I don't get paid a premium salary. He still wanted my info so he could add me to his spam list and harass me. I declined. 

We sat in a CX-5. Pretty nice, it's a possibility, I think the CX-9 will be beyond budget. Didn't drive anything today. Outback & Forester are nice also, RAV4 decent. I think Nissan is out due to bad taste from their CVTs. Ford and GM probably a no-go due to their stupid shifter setups. Didn't get to a Honda dealer today. 

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On 12/21/2021 at 5:50 PM, Bomber said:

Can't you buy out the lease then turn around and sell the car for a profit?

My 2019 Nissan Rogue is up in Feb too.  The residual is 14k.  It only has 3000 miles on it.  I see 2019 models on the Dealer lot where I bought it going for 24-26k with 30-40k miles..  I am going to buy it as I believe this shortage will go on for a few years at least.  If I needed a car I might check the lease price and the residual value right now.  It be a better deal than trying to buy one used.  I would consider letting mine go for 21k right now.

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On 12/24/2021 at 7:36 PM, Tunaman said:

My 2019 Nissan Rogue is up in Feb too.  The residual is 14k.  It only has 3000 miles on it.  I see 2019 models on the Dealer lot where I bought it going for 24-26k with 30-40k miles..  I am going to buy it as I believe this shortage will go on for a few years at least.  If I needed a car I might check the lease price and the residual value right now.  It be a better deal than trying to buy one used.  I would consider letting mine go for 21k right now.

At Christmas dinner today my aunt was just telling me how she made money on her lease.  Don't qoute me on exact specifics but she basically said she was going to purchase it(bmw lease). The payoff figure was less than what it's worth. She basically got a $8k credit towards new lease and also got a $2k cash back rebate. 

Something to consider when turning in your lease.   Also look at places like CarMax, etc as they may give you well above what the car is worth.  

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Toyota.  Toyota.  Toyota.  Will be more expensive upfront but in the long haul you will be much better off.

Don't touch anything GM.  They are mostly garbage.

I feel sorry for anyone tha must buy a car in the current environment we find ourselves in.  Prices are beyond ridiculous.  

 

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We've decided to buy out our Rav4 LE lease the first week of February and put it up for sale. I expect I'll post it appropriately on this forum as the date nears.

And if it doesn't sell, we'll just keep it.

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