Welp, ditching my 335xi won't save much on insurance, so I'm regrouping

"Textured Soy Protein" (texturedsoyprotein) 07/11/2019 at 09:59 • Filed to: None

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Remember the other day when my !!!error: Indecipherable SUB-paragraph formatting!!! turned into a Suze Orman episode about my financial planning abilities or the lack thereof? Well, I did some investigating and I might have to tweak my plans some.

To recap, my wife and I are trying to buy a house in the next year or two, and we’ve got a good start on our down payment savings. We make good money but we’re trying to reduce our fixed expenses. This is more to optimize our spending, not something that’s going to make a huge difference in our savings. But it helps a little.

My idea was to sell my 335xi privately and replace it with a brand new Civic Si, which I would finance. Normally, I only buy used cars or lease new ones with manufacturer incentive lease deals. But in this case I thought the Civic Si was cheap enough with dealers discounting them into the $21-22k range that a low-rate loan might be fine. I’d only save about $65/month on the payment doing that, but I figured I’d save more on fuel and insurance. Also, the new car warranty would prevent any surprise expensive repair bills.

Many of you didn’t like this idea.

But, I hadn’t actually checked how much money I’d save on insurance. Oh, and I was holding a couple of cheaper used car ideas in my back pocket that I didn’t want to bog y’all down with— BECAUSE IT WAS A REVIEW OF THE CIVIC SI, GEEZ —but here we are.

I called my insurance and asked for quotes on the following cars:

2019 Honda Civic Si sedan
2007-2008 Acura TL Type-S 6MT
2004-2007 Cadillac CTS-V

Turns out, all of these cars will only reduce my insurance by about $25-35 every 6 months. Which means that the savings would be in the area of the monthly payment, and in the case of the Si, fuel. Based on this, I decided I need to be more aggressive with how to lower that payment more.

One easy way to do this is Honda is !!!error: Indecipherable SUB-paragraph formatting!!! : $229/month for 36 months, 36k miles, $3199 + tax/tags down. The residual is $15,642.60, so they’re not doing any funny business with over-inflating the residual to make the payments cheaper. This is a very good lease deal. I asked the dealer if this could be tweaked at all. 36k miles is the minimum but you can make a smaller down payment and keep the same money factor, residual and Honda contribution to the cap cost reduction. This would of course make the payments higher.

The less easy way is to find a good TL-S 6MT or CTS-V, which I would take out a small loan on, because our down payment savings are tied up in investments we’d rather not sell now. While GM parts are cheap, I feel a little better about the long-term longevity of the TL, so that’s where my focus is among the two. I actually tried out an ’04 CTS-V back in (roughly) 2008 and at the time I felt like the car was a bit of a piece of crap with a great motor. It also would most definitely not save me money on fuel. Either way, with used cars this old, even reliable ones, there could be some additional spending on getting caught up on maintenance. So there’s some risk here.

I’m doing a few things. I’m keeping my eye out for good TL-S candidates, and I’m going to list the 335xi for sale with all the mods. Maybe I find a good TL-S by the time I sell the 335xi, maybe I don’t. If I don’t get any good offers on the 335xi, then I’ll rope a friend or two into helping me part it out and try again.

Worst case scenario, if I can’t find a good TL-S by the time I sell the 335xi, that Si lease deal is good until September 3. Oh, and I also need to get my wife to ride in the Si to make sure the sporty seats are comfy for her.

But hey, it’s a plan! Armchair finance majors, do your worst. But if you tell me to buy a boring normal car, you can fuck right the hell off.

CB > Textured Soy Protein 07/11/2019 at 10:05

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Cars are only boring if you let them be boring.

Jayhawk Jake > Textured Soy Protein 07/11/2019 at 10:10

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Try harder. Mitsubishi is running a 0% APR on the Mirage. You can get a Mirage for like $200 a month, pay no interest, save a ton on gas (43 MPG highway!), and I bet the insurance is cheaper.

I mean look at this thing, it’s definitely a car!

superdave847 > CB 07/11/2019 at 10:12

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FWD, 4 cylinder, CVT sedans are boring.

OPPOsaurus WRX > CB 07/11/2019 at 10:16

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that is not true, boring bares are boring. how do I know this? I went from a WRX to a Focus SEL. (yes there was an All road in between but that was a different type of excitement , like the Russian Roulette type)

BeaterGT > Jayhawk Jake 07/11/2019 at 10:16

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Even the color is exciting!

diplodicus forgot his password > Textured Soy Protein 07/11/2019 at 10:17

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Sounds like you should buy a 30yo bmw

https://frederick.craigslist.org/cto/d/hagerstown-rare-stanced-bmw-e28-535is/6924675089.html

https://baltimore.craigslist.org/cto/d/parkville-1991-bmw-e30/6920185902.html

https://washingtondc.craigslist.org/doc/cto/d/nokesville-84-bmw-735i-e23/6916842959.html

Long_Voyager, Now With More Caravanny Goodness > superdave847 07/11/2019 at 10:20

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You’re not driving them hard enough.

412GTI > Textured Soy Protein 07/11/2019 at 10:23

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Don’t put money down on a lease just to get a lower payment, it’s never a smart idea. 

E90M3 > Textured Soy Protein 07/11/2019 at 10:25

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When I was thinking about getting an E90 M3 in February of 2014, really before I was ready to actually get it. Well, I was thinking about just buying it from carmax and being done with it. I had found one that I’d be alright with and figured before I bought it, I should at least check insurance. I called Geico and it would’ve cost less than $100 more per 6 months as my 1997 Explorer, I was actually pretty surprised, mainly because I was 23 at the time. Sometimes insurance rates don’t make too much sense.

fintail > 412GTI 07/11/2019 at 10:27

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If the car gets written off, bye bye to that money.

merged-5876237249235911857-hrw8uc > Textured Soy Protein 07/11/2019 at 10:40

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The first gen CTS-Vs are a hoot to drive. I had one for 3-4 years. And was ready to replace the trans and driveshaft at about 140k when the engine let go. We were expecting our first child, so I didn’t bother fixing it and just sold it as is and bought a Q7. But it was a great car to drive. Especially once you ditch the dual mass flywheel and add a poly diff bushing. That LS6 was a great sounding motor. The interior is crap, but it holds up well. The plugs are tough to change, but easier than my S8, but there isn’t much space under hood. Parts are reasonable, the rear shocks were pricey to get the proper ones that auto self level without added air lines. The chassis is dead simple, but all the electronics are on a can bus type deal and you can’t just swap out the nav unit simply. I would have another one someday for a toy, but I’ll probably go to the gen 2 CTS-V for that, or just stick with a C5/6 Z06 for a toy. But those days are still a bit off. The Acura should be a much more trouble free ride for you. The caddy isn’t too bad, but the drivetrain is unique to that car, as is the trans case and clutch. It doesn’t cross reference with other LS cars. The 04 and 05s have the ls6 and then they switched to the LS2 for the 06 and 07 years. LS2 is supposed to have more torque, but I loved the LS6s rev happy nature and would have another in a heartbeat.

Have fun. 

Party-vi > Textured Soy Protein 07/11/2019 at 10:44

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I *think* we did an FHA loan with 3.5% down on a ~$200K house. We paid out the equivalent of 10% of the financed price in downpayment, fees, inspection costs, and PMI buyout. Shit ain’t cheap. Buying out the PMI saved us a few grand if I recall correctly.

Chuckles > Textured Soy Protein 07/11/2019 at 10:44

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I liked your analysis of the Civic Si, and if you decide to go the route of a new car, I think it's a great choice. But it did seem like it was going to be a lot of change for you without much of a financial impact. My vote would be to keep the car you have, or get something cheap enough that the difference is a lot more noticeable. 

MUSASHI66 > Textured Soy Protein 07/11/2019 at 10:48

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That is not a “very good” lease offer imo . When I was buying my WRX with the MSRP of $27500, lease offer was $220 per month with $2000 down for 36 months, for effective monthly payment of $275. Your lease would be $317 - granted, mine was for 30k miles, your deal is for 36k miles, but my car is also around $3000 more expensive.

But, that lease deal is only $100-ish cheaper per month than buying at 60 months - switch that to 72 months and you’re only saving around $40 per month based on $25k purchase price and 1% interest. Drop that down to $22k purchase price, and you are at $376 per month at 60 months and $315 at 72 months. With low interest rates someone with good credit can get, 72 months makes sense to lower the payments. My dad got a 2018 Tundra with 0% at 60 months recently, and it is so much better than just paying cash in advance.

I am not sure how buying a decade old Acura or Cadillac plays into “let’s not have unexpected repair bills”, but that’s just my 2 cents.

Textured Soy Protein > Jayhawk Jake 07/11/2019 at 10:48

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CobraJoe > Textured Soy Protein 07/11/2019 at 10:49

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I’d only save about $65/month on the payment doing that, but I figured I’d save more on fuel and insurance.

Turns out, all of these cars will only reduce my insurance by about $25-35 every 6 months. Which means that the savings would be in the area of the monthly payment, and in the case of the Si, fuel. Based on this, I decided I need to be more aggressive with how to lower that payment more.

Potentially stupid question: Are you willing to give up your current car for only $70 a month in savings, or are you interesting in driving something different and you’re trying to justify it by saving money?

I only ask, because I’ve done several spreadsheets and mental calculations to justify getting a different car after tiring of my current one.

That being said, it’s not a bad thing to want a different car, and you’re doing your research and verifying that you’ll actually save money on it month to month.

However, if you’re serious about saving money, there are better ways than to buy a brand new car. Older cars will be cheaper to buy, will probably be cheaper to insure, and will definitely be cheaper on taxes (My ‘05 truck cost $25 to renew the plates , my wife’s ‘12 outback cost $225). Repair costs could be a factor, but older vehicles are also easier to research about potential problems. (But if you’re worried about repair costs, please avoid the CTS-V. It’s an amazing car, but everything about it is expensive to repair, and it’s old enough to potentially need a pair of $600 rear shocks, for example )

As for fun cars to consider on the “cheap” end of the spectrum: 3.7L V6 Mustangs, 4.6L GT mustangs (both can be found in various trim levels for under $10k), Focus/Fiesta ST or WRX (under $15k, some as low as $10k ), older Civic SIs (under $ 10k for a 2013 near me). I’ve even heard that a chevy Spark with a turbo and a manual can be fun, and those are $10k for a 2 year old, under 20k mile example.

Sovande > Textured Soy Protein 07/11/2019 at 10:50

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This sounds like an even worse plan than buying new.  An 11 year old Honda, while probably reliable, is going to need work.  

Textured Soy Protein > Sovande 07/11/2019 at 10:51

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I need to add this to the post because it’s definitely part of my thinking. That’s not the only plan though, and I’d only go this route if I found a really good one with maintenance records. Otherwise getting caught up on the maintenance could maybe be looking at a couple grand. 

Textured Soy Protein > 412GTI 07/11/2019 at 10:53

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Right, I’d see about only paying the tax & tags up front and let the payments fall where they may. Would probably still be well under $300/month.

Textured Soy Protein > CobraJoe 07/11/2019 at 10:57

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It’s not a stupid question, but one I’ve already answered “no” to, hence this new plan to lease the Si or buy something older and cheaper, $15k tops, hopefully less. Each of which would save me a couple hundred bucks a month on the payment.

As for your other ideas, the older Si’s have shitty paint that will peel to hell in the heat and humidity, I hate Fords, and I’m skeptical that any $10-15k WRX isn’t beat to shit.

Sovande > Textured Soy Protein 07/11/2019 at 10:58

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What year is your BMW?  And what kind of money are you hoping/looking to save?  

Textured Soy Protein > Chuckles 07/11/2019 at 10:59

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The Si becomes cheap with the lease deal! 

CobraJoe > Long_Voyager, Now With More Caravanny Goodness 07/11/2019 at 11:00

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You’re not driving them hard enough.

I’ve driven cars that go from boring to depressing once you start driving them hard.

My wife’s old ‘09 Corolla was one of those. Push the gas harder, and you didn’t get any more power and it hated revs. Go faster through a corner, and you get instant understeer. It even took an act of congress to get it to downshift.

I hated that car, and I’ve owned and enjoyed many other cars in the boring spectrum.  

412GTI > Textured Soy Protein 07/11/2019 at 11:01

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Definitely the way to go. I think that could be possible for around 300/mo with just the drive offs down. I know DC VW dealers are pretty aggressive, maybe the Honda ones are as well. 

Textured Soy Protein > Sovande 07/11/2019 at 11:03

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It’s a 2011 and I’d like to save a couple hundred bucks a month. My current payment is $423. I played with the fueleconomy.gov calculator and I could probably save another $50/month on fuel with the Si vs. the 335xi. 

Textured Soy Protein > 412GTI 07/11/2019 at 11:06

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VW is running a program on the Jetta GLI but it’s $309/month for 39 months, 36k miles, $2,999 down. There’s a $189/month deal on a base Jetta S but nope, not gonna do that. 

BrianGriffin thinks “reliable” is just a state of mind > Textured Soy Protein 07/11/2019 at 11:07

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You can come close to getting a certified Mk7 GTI for $15k or so;  get the fun car while being relatively reliable and great on gas plus not that much to insure.

CompactLuxuryFan > Textured Soy Protein 07/11/2019 at 11:20

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I definitely wouldn’t think any brand new car would save you insurance vs pretty much any E90. Even Civics have cameras in their mirror housings.

As for the lease deal, pretty much nothing that is advertised sounds like a good lease deal to me because in my mind leases must be $0 down. At least with the luxury brands, I’ve found I can do much better than advertised just by walking in and asking for numbers on a specific car. Browse   https://leasehackr.com/ and their forums before you start dealing to see where you really stand. I wouldn’t go off anything advertised.

Manwich - now Keto-Friendly > Textured Soy Protein 07/11/2019 at 11:28

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I’m not surprised you’re not saving much money on insurance on these over the BMW as they are all still vehicles with a reputation for performance.

If you’re serious about saving money, get something like a lightly used Prius.

You’ll likely save on fuel, insurance, maintenance and repairs.

I don’t think the cars you are looking at will save you a meaningful amount of money.

Textured Soy Protein > MUSASHI66 07/11/2019 at 11:33

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I’m not sure where you’re getting the $317 number since I don’t know what the money factor on this lease is. I tried to back into it using a lease calculator and the numbers provided by Honda, and I got 10.2675% for the money factor, but when doing that and removing any down payment it gives me $337.70/month.

Textured Soy Protein > Manwich - now Keto-Friendly 07/11/2019 at 11:36

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PRIUS???

CobraJoe > Textured Soy Protein 07/11/2019 at 11:45

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A couple of hundred a month does make for better savings, though with a lease you don’t keep any of the car’s value at the end of the lease, so you might end up worse off by the end of the lease. (just something to consider, I’m not well versed in leases. )

As for your other ideas, the older Si’s have shitty paint that will peel to hell in the heat and humidity, I hate Fords, and I’m skeptical that any $10-15k WRX isn’t beat to shit.

Would an older Acura have the same paint problems?

Fair enough disliking Fords, but there is also a V6 Camaro and GTI and Jetta and Mini Cooper S and JCW and Honda Fit, and CR-Z and V6 accord and... Well, there’s a pretty big list of potentials.

Though looking at that list, I’m betting that some peeling paint would be far easier to live with than aging German electronics.

nermal > Textured Soy Protein 07/11/2019 at 11:52

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I think you’ve been desensitized by your beemer, and will become bored with a plebeian Honda after the novelty wears off. You’ll be back here in 3-6 months complaining about how you made a terrible mistake.

My vote is still with getting a new M2. Use your savings to pay for the Euro delivery trip and go drive on the Autobahn and do other German stuff.

Alternatively, a regular 2-series would work to save some cash. Or a Golf R .

Manwich - now Keto-Friendly > Textured Soy Protein 07/11/2019 at 11:59

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LOL... but hey... if you’re SERIOUS about spending less money on cars, you know that something like that is the real answer.

Or if not a Prius, then a Honda Insight, Corolla or Camry hybrid.

OR... a nice Scion xB:

Discerning > Textured Soy Protein 07/11/2019 at 12:04

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H ow long do you plan on keeping the car? Do you plan on selling it at the end of your use?

De pending on how much you actually care about financial impact, make sure to account for the time value of your money.

I typically advise people to look mostly for the lowest rates and lowest down payment. But there’s obviously a lot more to consider.

davesaddiction @ opposite-lock.com > Textured Soy Protein 07/11/2019 at 12:12

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Buy this.

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=519562911

Long_Voyager, Now With More Caravanny Goodness > CobraJoe 07/11/2019 at 12:13

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‘09 Corolla

Had a 2012 S with a manual, can confirm there was no amount of hard driving that made it fun. The e-brake however brought fun to the party.

412GTI > Textured Soy Protein 07/11/2019 at 12:15

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I was curious and looked up the Si’s money factor. It’s currently 0.00108 for 12k mikes with a 62% residual in case you want to do any calculations against the dealer quotes. 

CobraJoe > Long_Voyager, Now With More Caravanny Goodness 07/11/2019 at 12:19

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Hers was a CE with an auto. It also wasn’t comfortable to sit in, and it was the softest and bounciest ride I can remember.

I miiiiight have made her trade it in early at an unnecessarily high cost...    (Leasing that thing was not a good idea).

Sovande > Textured Soy Protein 07/11/2019 at 12:20

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To save a couple hundred you will need a car in the $12,000 range, no? A $12,000 loan at 4% is about $220 a month. $16,000 at 4% is about $320 a month. These figures don’t include a downpayment.

AestheticsInMotion > Textured Soy Protein 07/11/2019 at 12:22

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Go back to an NB for awhile?

Tapas > Manwich - now Keto-Friendly 07/11/2019 at 12:23

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I mean you might as well eat beans for all your meals, get on a bicycle and let your farts propel you around.

Neil drives a beetle and a fancy beetle > Textured Soy Protein 07/11/2019 at 12:24

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I understand the desire to free up money. It all adds up. That said; I’d be curious to know if there is anything between a 2005ish car and a brand new civic that would meet your wants. I’m thinking something like a manual 2012-2014 Acura TSX or ILX; or maybe a newer  warm hatch like the Hyundai Elantra GT Sport with the 1.6T . Or just a sport sedan with better economy than the 335xi like a 2.0T ATS.

Long_Voyager, Now With More Caravanny Goodness > CobraJoe 07/11/2019 at 12:26

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Ours was a hateful little crap can. We bought it brand new to have one vehicle we could count on for years to come ( #toyotareliablity ).

It rode terribly, but handled like garbage. It hated revs, yet needed revs to have any semblance of go. It got worse mileage than my built Acclaim I was driving at the time. The seats were garbage, surrounded by cheap creaky interior everywhere.

In the 85k we had that car, it had 2 engines and 3 transmissions replaced under warranty, on a dealer maintained vehicle.

That car burned us, not only from Toyota, but from new cars in general. We finally bought a newer vehicle last weekend, but only because we found exactly what we had been looking for, otherwise that car made my 90s, 170k+ Mopars look like luxury cars with stellar reliability.
 

Textured Soy Protein > AestheticsInMotion 07/11/2019 at 12:46

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Unfortunately no sports cars or coupes.

M y wife hates riding in the 335xi on the highway because it’s low, bumpy, loud, and fast.

If I get something new it needs to be a suitable dad car in the event that chitlins present themselves because I don’t want to have to buy yet another car when that happens. 

Textured Soy Protein > Neil drives a beetle and a fancy beetle 07/11/2019 at 12:49

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There’s definitely a potential middle ground, but I’ve yet to really get to the point of identifying what I’d really go for in that middle ground. I’m still noodling on it.

The thing about the TL-S 6MT is it's got an LSD and Brembos, both of which I dig. A lot.

Textured Soy Protein > Sovande 07/11/2019 at 12:50

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Yes, 12k is the magic number. Obviously if whatever I buy at that number then needs a bunch of extra money thrown at it then it defeats the purpose.

Textured Soy Protein > 412GTI 07/11/2019 at 12:52

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Where did you find those numbers? That’s not quite lining  up with the math I did from the numbers posted on Honda's deal site.

Textured Soy Protein > davesaddiction @ opposite-lock.com 07/11/2019 at 12:53

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Too normal!

Textured Soy Protein > Discerning 07/11/2019 at 12:56

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I’m going to keep it for at least 3 years and hopefully longer. The Si lease gives flexibility to keep the payments low for now and then buy the car for a reasonable number later. Or if I make the career progress I'm trying to make by then, maybe I'll be in a position to spend more. But it at least sets up the situation to be manageable regardless of income gains.

Textured Soy Protein > Manwich - now Keto-Friendly 07/11/2019 at 12:57

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I’m trying to make a dent in the monthly spending while still driving something I enjoy. I don't need to become a vehicular monk.

Textured Soy Protein > CobraJoe 07/11/2019 at 12:59

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Leasing doesn’t net you any equity, but that’s the point. You’re giving up the equity in exchange for lower payments. But as long as the numbers are done right on a lease it can be a totally viable option. In this case, if I wanted to keep the Si at the end of the lease, I’d have to buy it for $15.6k. There was no 2016 So to give an exact equivalence, but 2015s are going for 14-18k right now, and 2017s are 19-23k. So basically, I'd be starting from scratch with the opportunity to buy my own well cared-for Si for a good price.   

The paint problems I’ve seen tend to be on Civics and to a lesser extent, Accords. Usually once you get past the entry-level Acura (Integra, RSX, ILX) the paint is better than Hondas.

I’m definitely not getting anything European unless there were some kind of special lease deal on a new one.

davesaddiction @ opposite-lock.com > Textured Soy Protein 07/11/2019 at 13:03

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To reach your financial goals, “normal” but fun to drive is your best bet.

A Civic Si is pretty normal, too...

412GTI > Textured Soy Protein 07/11/2019 at 13:10

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https://forums.edmunds.com/discussions/tagged/honda/civic

Usually very accurate, the guy that gives out MF & residuals is pretty trustworthy. Our Accord lease matched up this past January. 

Textured Soy Protein > davesaddiction @ opposite-lock.com 07/11/2019 at 13:13

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Aside from the fact that I think a regular old Mazda 3 is too boring, if I were to get a used car, I’d want to keep it in the 12-14k range so I can stick with a 48 month loan and keep the payments low .

The thing is, to get one of the few reliable-but-interesting cars in that price range, they’re probably going to be old, and might require maintenance. But I’m not giving up hope that there’s something out there.

And yes, the Civic Si has plenty of normal to it, and that’s what makes it great. It’s a totally normal Civic with all the practicality that entails, but it has enough power to feel un-slow, LSD, adaptive shocks, and telepathically good steering.

Textured Soy Protein > 412GTI 07/11/2019 at 13:20

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Weird, I’m not sure how those numbers add up, they’re not coming out that way when I plug them in to a lease calculator. I’ll have to see what happens in the finance office. 

Sovande > Textured Soy Protein 07/11/2019 at 13:23

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Yeah, I hear you.  Good luck with whatever you decide!

Textured Soy Protein > nermal 07/11/2019 at 13:24

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I think you think I’m spending more on my 335xi than I’m actually spending on it because a 230i or Golf R wouldn’t be a reduction in payment unless I did a lease, and either of them would cost much more to lease than the Si.

Don’t underestimate how much I liked the Si, it was a legit excellent car. It’s not as fast as my 335xi but the steering is better and the ride comfort over rough stuff is no comparison. My first car I bought with my own money was a ’92 Integra GSR, an Si would be going back to my roots. 

davesaddiction @ opposite-lock.com > Textured Soy Protein 07/11/2019 at 13:24

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Good luck finding the right fit! 

Manwich - now Keto-Friendly > Textured Soy Protein 07/11/2019 at 13:30

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Used Honda Fit.

They’re decently fun to drive... and you can drive it hard and feel like you’re going fast, even if you really aren’t (compared to your BMW or a 2019 Civic SI). And that means, fewer speeding tickets.

You’ll likely be able to buy it outright or have a TINY car payment. And you’ll save on fuel definitely. Insurance is likely only to be marginally cheaper though.

Here’s a 2015 one with only 80,000 miles, with a manual and for only $9500

The 2015+ models got an all-new DOHC 1.5L good for 130hp @6600rpm and a 7000 rpm red line. It’s more or less the non-turbo version of the motor found in the new Honda Civic SI.

Also note that the Honda Fit is basically what the Honda Civic SI used to be.... only with more safety.

Manwich - now Keto-Friendly > Tapas 07/11/2019 at 13:35

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Since being on the Keto diet, my fart production has greatly decreased.... which makes me a bit sad.

Also, non-green beans are not keto-friendly, thus I haven’t been eating them. 

Now having said that, if I want to go into the city and it’s a nice day, often riding my bicycle is the FASTEST way to get there... especially when there are large events going on.

Textured Soy Protein > Party-vi 07/11/2019 at 13:44

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Aren’t you somewhere in like Howard County or something?

My problem is we live in Rockville and we’re looking at houses in Rockville and North Potomac (a.k.a. Southwest Gaithersburg). Unless you go to certain older, less-desirable neighborhoods in Rockville, in the “wrong” school district, it’s $ 500k minimum for anything halfway decent. We’re trying to stay under $550k. I’d rather spend much less than that, but to do that we’d have to go way far out into the sprawl, or to less appealing areas like Aspen Hill or Wheaton .  

North Potomac gets you more house for your money but it’s still not cheap. I n our price range in Rockville, there’s probably no garage, maybe a carport . Might get lucky and score a 1-car garage but it’s rare . Hell, the only way to get a 2-car garage under $600k is a townhouse in North Potomac . And of course, all else equal I’d rather be in Rockville.

Stupid goddamn MoCo!

Party-vi > Textured Soy Protein 07/11/2019 at 14:27

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I’m in Baltimore County - more trailers and cheaper houses! Damn that’s rough.

CobraJoe > Textured Soy Protein 07/11/2019 at 14:28

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Leasing doesn’t net you any equity, but that’s the point. You’re giving up the equity in exchange for lower payments. But as long as the numbers are done right on a lease it can be a totally viable option.

I can’t remember my exact reasoning on this, but I’m pretty sure for us leasing only worked if we planned on getting a newer vehicle every 2 years or so. A car bought on a loan that is kept for a bit longer than that, and you’ll have paid down the loan to where the value of the car is higher than the loan payoff. Sure, it brings the monthly price of a $22k car down to a $15k car, but after the lease is up the $22k car and all the payments you made toward it are gone, while the $15k car would still be fully functional and worth $10k or so (Although still probably still being paid off) .

It’s not a bad method if you value having a new or more expensive car every couple of years, but it’s not the best way to save money.

Now, if you were looking for a way to save maximum money on your vehicle, I have plenty of experience there.  My basic strategy was to find something 15-20 years old, usually something interesting yet generally forgotten about, research for potential issues, inspect closely before buying, then pay cash and insure for liability only.  It’s been a few years, but I used to buy a car for under $1000, drive it for 2-3 years, sell it for $800, then buy a new car for under $1000.  Sometimes they needed repairs, but they were far from shitboxes, and they were hard to beat in terms of transportation for the price.  

Tapas > Manwich - now Keto-Friendly 07/11/2019 at 15:11

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Cook them in bacon fat. Everything is Keto with Bacon fat.

Problem solved!

Manwich - now Keto-Friendly > Tapas 07/11/2019 at 15:19

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My doctor also told me to go low salt/low fat.

So no bacon or bacon fat.

Tapas > Manwich - now Keto-Friendly 07/11/2019 at 15:21

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Well fuck...

Manwich - now Keto-Friendly > Tapas 07/11/2019 at 15:22

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“Well fuck...”

I can do that since that is also low-carb...

LOL

Dr. Zoidberg - RIP Oppo > Tapas 07/11/2019 at 20:31

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Is this how you afford Toronto?

Dr. Zoidberg - RIP Oppo > Textured Soy Protein 07/11/2019 at 20:35

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Those are highly sought after and while it will be cheaper than a new Civic, it will not be cheap. I’d just keep the Bimmer if it’s not giving you any problems... A really clean TL-S is probably worth more than your car. That’s not gonna help save money.

Tapas > Dr. Zoidberg - RIP Oppo 07/11/2019 at 21:57

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Well I tried the sugar babe  angle. No one wants me lol