Tried to buy a lexus today

Topic: Tried to buy a lexus today (Read 3709 times) previous topic - next topic

Tried to buy a lexus today

Reply #15 – December 19, 2010, 11:55:37 PM

Quote from: shame302;346269

Never, never, never let the dealer put the financing together for you. Always get it yourself. Credit unions are usually the way to go.

Unless the dealer can beat the credit union by over 2%. Than always use the dealer. lol.

Tried to buy a lexus today

Reply #16 – December 20, 2010, 06:51:22 PM

They can't and won't. If they can. it's time to find another cred. union. Period.

Tried to buy a lexus today

Reply #17 – December 20, 2010, 08:16:18 PM

Quote from: shame302;346330

They can't and won't. If they can. it's time to find another cred. union. Period.

There are a lot of dealers offering 0% financing on many cars. It's tough to beat zero.

Tried to buy a lexus today

Reply #18 – December 20, 2010, 08:20:17 PM

Not on used.

Tried to buy a lexus today

Reply #19 – December 20, 2010, 09:35:57 PM

My goal for the new year is to get a hold on my finances, and maybe buy a house. Not sure how plausable that is. Before I was married, I never owed the bank any money, and had never gotten a loan out. Now I have $6-500 left on my 1K signature loan for the crown vic.

Tried to buy a lexus today

Reply #20 – December 20, 2010, 09:53:24 PM

Quote from: blain_gatterdam;346243

I dont want a 10-15k car, I dont need a 5th car, but if I was going to get one i think 25 is a good compromise between what is new and what I can afford.

The credit union will come through for me, it will be just the right amount of loan to give me credible credit for getting a mortgage once the payments are over.

Now if I bought it under my business.... thats a different story, I could have it tomorrow, but I keep that credit open for new cameras/ etc

Well if you already have 4 cars and are thinking about buying a 25k fifth car, (no offense here - I don't know your whole situation, just what I have read) but it seems like you may have more money (or credit) than sense. I know if I had 4 cars already (again, I don't know your situation, or the condition of your other cars, this is based solely on what I have read in this thread) I wouldn't think of going 25k into debt just to have a 5th car. Now that's just me, and I know said you are doing this to build credit, but right now you don't have to have a perfect credit score to buy a home, unless you plan on buying a 400k+ home. This is just my observation, and opinion, of course it really means nothing, but it kind of seems like a waste to me.

Tried to buy a lexus today

Reply #21 – December 21, 2010, 12:14:04 AM

I have now bought 2 brand new F150 trucks the first was a 2003 FX4 when I decided to leave Ford I went out and traded it on a 2006 FX4 now I do love my 2006 truck and with getting my A plan and 0% financing for 6 years it sounded like a win win but goddamit after 5 and a half years of making payments I dont think I will ever be buying a new truck and now for the last several years I keep thinking to my self do you know what I could have done to the bird with $650 a month. But on a high note it will be paid off by next june and will be finally all mine.

Tried to buy a lexus today

Reply #22 – December 22, 2010, 12:12:39 AM

Ive often thought that owning a brand new car is hard to do unless you can pay for it in a year or two.

I think that the only way to keep up with and inline with depreciation is to pay triple payments per month in order to stay ahead come resell time.
I may be off but thats what I see.

Tried to buy a lexus today

Reply #23 – December 22, 2010, 12:20:15 AM

I had enough business classes in college to realize this: never buy a new car. It's the worst investment you can make.

Tried to buy a lexus today

Reply #24 – December 24, 2010, 10:53:27 AM

Quote from: thunderjet302;346484

I had enough business classes in college to realize this: never buy a new car. It's the worst investment you can make.

Lou, I totally agree with you, buying a brand new car is one of the worst investments you could ever make. It's funny though, it's like my buddy who does appraisals for a living says, "One variable you can never account for in an appraisal is EMOTION." When you see that brand new Mustang under the lights in the showroom, it's like the song of the siren.... Buy me, buy me.... lol

Tried to buy a lexus today

Reply #25 – December 24, 2010, 03:04:08 PM

I don't know why people generally refer to cars as "investments" (poor or otherwise) anyway. They are a consumable commodity.

Tried to buy a lexus today

Reply #26 – December 24, 2010, 08:25:13 PM

And since when are commodities not considered investments? Nitpicking aside, I think Thunderjet302's point is that there are far more sensible places to put your money. Most of the reasons people give for buying new cars are not logical, IE not wanting to pay for repairs, or wanting something reliable. When you add up the payments and higher insurance on a new car it would take a lot of repairs to make a decent used car cost more, and as for reliability, brand new cars are no more reliable than 3-year-old cars, in fact they're probably worse. And when they break they're generally harder to get running.

My point, on the other hand, is that it's more sensible to save up and buy a car (whether it be new or used) than it would be to get a loan for one. The money saved and the security (if you save up for a car you'll never end up with one you can't afford, and if you lose your job you won't have to worry about the repo man) far outweigh the instant gratification.

Tried to buy a lexus today

Reply #27 – January 12, 2011, 11:26:41 PM

Quote

but it seems like you may have more money (or credit) than sense

Well its the fifth car on paper, once you set aside the tbird which is being painted, the camaro which is being restored, and the chevy van which has no floor... That leaves me with one car, which if it fails, I need a second car.

The lexus- Would be a nice presentable car for my WEDDING photography business, upscale and professional.

And I dont know where your "sense" is coming from, but I have just as good a chance at a $400k house as I do a $10k crack den, Nadda!

I ended up looking at a 2011 honda fit. It is lame as all get out and far from a lexus, but it is 18k out the door with 0.9 financing. As posted before pay that sucker off in a year or two, voila! credit!

Plus- things that I need are established credit, and previous loans... Now we could go to best buy and finance a TV which will be worth nothing in 5 years, get a signature loan and pay interest on my own money, or get a car loan, better reliability, and mpg while I am at it. That seems to make sense to me....

Tried to buy a lexus today

Reply #28 – January 12, 2011, 11:36:51 PM

Quote from: blain_gatterdam;349507

Well its the fifth car on paper, once you set aside the tbird which is being painted, the camaro which is being restored, and the chevy van which has no floor... That leaves me with one car, which if it fails, I need a second car.

The lexus- Would be a nice presentable car for my WEDDING photography business, upscale and professional.

And I dont know where your "sense" is coming from, but I have just as good a chance at a $400k house as I do a $10k crack den, Nadda!

I ended up looking at a 2011 honda fit. It is lame as all get out and far from a lexus, but it is 18k out the door with 0.9 financing. As posted before pay that sucker off in a year or two, voila! credit!

Plus- things that I need are established credit, and previous loans... Now we could go to best buy and finance a TV which will be worth nothing in 5 years, get a signature loan and pay interest on my own money, or get a car loan, better reliability, and mpg while I am at it. That seems to make sense to me....

Quote from: 20thanniver-ls;346378

(no offense here - I don't know your whole situation, just what I have read) but it seems like you may have more money (or credit) than sense. I know if I had 4 cars already (again, I don't know your situation, or the condition of your other cars, this is based solely on what I have read in this thread)

It's just the way you came off to me,,, as I originally stated, I wasn't trying to be offensive toward you, my post clearly states that, I was merely voicing my useless opinion. It's understandable wanting to have a presentable car for your business, I can't say I wouldn't want the same.

Tried to buy a lexus today

Reply #29 – January 13, 2011, 12:34:23 PM

Quote from: thunderjet302;346484

I had enough business classes in college to realize this: never buy a new car. It's the worst investment you can make.

I sort of have to disagree. While 300 a month is a lot for a car, when it is paid off, it is still worth quite a bit. A lot of you guys keep saying you could use that 300 a month for your Thunderbird or cougar. That is much more of a waste than a new car. Our cars aren't worth much, sadly. No matter what we do to them, they won't be worth anything near what a new car would be worth. For me, when my 88bird starts costing me 200+ a month for repairs, it's gone. I put a starter in it and I may need a new fuel pump. Now the fuel pump may be $100, depending. I might need a new sending unit, etc. It'd be better off putting that money towards a new car. Many of us have already put way more into our fox tbirds and courgars than they will ever be worth. At least a lexus, or a camaro in my case, will be appealing to someone in 5-6 years when maybe I want something new. And a warranty for 5 years? How can you go wrong. Many car companies offering free maintenance. So all you’d pay for is gas. I don’t know about everyone financial situations here, but that seems worth it, if you can swing it. That may be the key, many of us simply can’t afford it.

Quote from: Thunder Chicken;346981

And when they break they're generally harder to get running.My point, on the other hand, is that it's more sensible to save up and buy a car (whether it be new or used) than it would be to get a loan for one. The money saved and the security (if you save up for a car you'll never end up with one you can't afford, and if you lose your job you won't have to worry about the repo man) far outweigh the instant gratification.

So say a 2006 fusion would be harder to get running when its broke than a 2011 fusion? How so? Now while you may have to worry about the repo man, many of us don't have credit because we're young. The credit boost from a car would help, for say in 5-10 years when we decide to buy a house. Because no one is ever going to be able to pay for a house outright, you’d be saving till you were 50 before you could buy a house, and as housing prices go up while you are saving, you’d never get into one.
I really like my bird, and it sort of breaks my heart to say it’d give up one it, but it’s not worth anything. I use it as a DD and probably would be hard pressed to find someone to pay $2,000 for it. And it’s a money pit. But if I spend $100 in repairs a month, that is still 200 in my pocket over a new car payment, and all those $200 do get put into a separate account for then the bird falls apart and I can’t drive it. Hell, the motor and tranny have like 70k on them, if the tranny let go, I would never ever spend 700 to get it rebuilt, and I’m certainly not going to buy a used one or a junkyard one, because who knows how long that one would last. If it wasn't for the forum here, the knowledge and the step by step instructions how to fix things, my car would have been gone long ago. But if I ad up the time I spend researching how to make this work, or how to fix that, every week, I could probably get a part time job and buy that new car. But I guess the troubleshooting, to this point, is sort of enjoyable, and thats why I do it. I've met a lot of good people, and learned a lot. But it all depends on where a person is. Again, I'm close to having to throw in the towel with my car, I can't always be troubleshooting everything. With all the little quirks it's got, unless I can fix them super cheap and easily, it comes a time when you gotta know when enough is enough. That's my situation, that's why I feel a new car would be nice. Yeah I could get a used car, and save 7-8k maybe a little more, and probably get it now, but there is something about knowing the car was made just for you, and you are the only one to have driven it. I mean the last owner of a used car could have beat it to death, and the dealer just covers it up. In two months it could explode, you don't know.