Hmm. Darn.

"Dr. Zoidberg - RIP Oppo" (thetomselleck) 10/06/2018 at 12:16 • Filed to: Monies

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The idea of ever owning a new car is feeling wholly unlikely over the next decade or so.

Take the Corolla hatchback XSE, for example . It can be found for a hair under $ 24k at some dealers. That’s a cheap car. But it’s not a drop in the bucket. Plus I do all the usual “me” stuff:

- that money would be better spent elsewhere. Savings, the house, paying off debt. Also I don’t think I have $24k laying around!

- Financing? That payment plus insurance would be another bigly bill . Better spent on... [see above]

- Oh, maybe get sell the Sportcross for some fat cash, making the XSE much more affordable — But why would I surrender a car I like for one that costs over twice as much that I’ll barely drive? And that money could be better used for —

There exists no burning desire to buy a new car, really, though I dream of it at times like everyone else. But with how I’m wired, it’s like I’ll never be able to rationalize such a purchase — ever. I’m a tethered servant of opportunity cost. The Sportcross alone was one of the bigger monetary existential crises of my life. For an old Lexus! Why is my wife with me, again? 

dogisbadob > Dr. Zoidberg - RIP Oppo 10/06/2018 at 12:18

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Too bad Toyota doesn’t offer a sunroof on the Corolla hatchback. That would make it much more awesome and much more worth it.

Tristan > Dr. Zoidberg - RIP Oppo 10/06/2018 at 12:20

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These are all the same thoughts I have. I also can't manage to keep a daily driver for more than a year or two, anyway.

Wacko > Dr. Zoidberg - RIP Oppo 10/06/2018 at 12:28

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24 grand is alot for that amount of ugliness.

Take some if that money and go get an eye exam 

Dr. Zoidberg - RIP Oppo > Wacko 10/06/2018 at 12:29

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The car itself was not the focus of the post

bob and john > Dr. Zoidberg - RIP Oppo 10/06/2018 at 12:29

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meh, I have no real plans to replace my lexus. it runs. it drives. it doesnt break down. good for getting to and from work. yea shes a little bit of a heavy drinker, but eh.

next car will be a A4 Allroad. if someone just duumbed 60K in front of me, id probably spend it on other first first (new bike...or 3) and house hold stuff before a car

KingT- 60% of the time, it works every time > Dr. Zoidberg - RIP Oppo 10/06/2018 at 12:56

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Cars and getting expensive AF man. The average new car transaction price for 2018 is around $36K. And don’t even get me started on trucks.

My curent car cost $24K which is not bad on a middle class income but I got $10K on my trade in which was paid off . But even $14k s eems too big a 3 year loan for me sometimes.

Even used cars are getting more and more expensive. I am not sure how good a relatively newish car I can get again for the same cost a few years from now. I like to buy CPOs less than 40k miles newer than 4 years. Right balance of price reliability   and tech.

I have considered leasing but my financially responsible side of my brain keeps shooting it down. But I have never owned a new car and I might give it a try but then again has to be a really good car with a great deal. Let’s see

aquila121 > Dr. Zoidberg - RIP Oppo 10/06/2018 at 13:43

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For me, I’m actively considering that car as my front -runner to find in the used market five to seven years from now—it checks a lot of boxes I care about: can be had with a manual (because  ‘no stick/no care’), hatchback + good cargo space, acceptable power- to- weight ratio, good anticipated reliability, and Toyota is using traditional port injection to supplement the direct injection (so the valves shouldn’t get carbon buildup).

But yeah, I can’t stomach the price new, even if it’s reasonable by comparison. I’m always going to wait for the 12 k or under used market... I get what you're saying.

Highlander-Datsuns are Forever > Dr. Zoidberg - RIP Oppo 10/06/2018 at 14:11

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I have bought two new cars and it’s really not that big of an impact on my bottom line. For a $24,000 car I would do 8-10k down and finance for 48-60 months. You will be around $300/month for a payment or the equivalent of two Starbucks lattes a day.

Highlander-Datsuns are Forever > Dr. Zoidberg - RIP Oppo 10/06/2018 at 14:44

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At this price range I’m considering a Civic Si, 4 dr. 200 hp, and mechanical lsd.

Funktheduck > dogisbadob 10/06/2018 at 16:25

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I don’t understand this mentality. I’ve had two cars with them and have never missed them being gone. One car would leak when it was really cold and rained. Really not fun having 40ish degree water dump on your head at 7 am

Dr. Zoidberg - RIP Oppo > Highlander-Datsuns are Forever 10/06/2018 at 16:28

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I’ve accumulated new bills recently that eat that up, including life insurance (which... Really should’ve had some time ago. Good thing I’m alive!). Anyway, no 300 isn’t a lot and yet it isn't not NOT a lot  

Dr. Zoidberg - RIP Oppo > Highlander-Datsuns are Forever 10/06/2018 at 16:29

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I got 215 and a tape deck  oh wait no LSD tho

Highlander-Datsuns are Forever > Dr. Zoidberg - RIP Oppo 10/06/2018 at 17:06

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Life insurance is overrated.

fintail > Dr. Zoidberg - RIP Oppo 10/06/2018 at 18:08

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Yeah, pay down that turreted castle.  Also keep a reserve for when that pristine original Paseo convertible or 1981 Corolla hardtop hits the market.

Funny how real estate weasels its w ay into every facet of life.

Dr. Zoidberg - RIP Oppo > fintail 10/06/2018 at 18:10

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Well, it beats the mold-infested apartment I had 8 years ago.

... And thanks for reminding me about the Te72 liftback. Another dream I will NEVER REALIZE

Dr. Zoidberg - RIP Oppo > Highlander-Datsuns are Forever 10/06/2018 at 18:11

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It’s a scam I tell ya. If I die , I’ll never see one cent!!!

fintail > Dr. Zoidberg - RIP Oppo 10/06/2018 at 18:16

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90% of local apartments = all the crap quality of a PNW house, but none of the profits via an insane artificial market.  Although sometimes it still might not be a bad deal, if one factors in condo HOAs.

Your place was probably built when McKinley was in office - I am sure it has a surprise for you hidden somewhere ;)

Cars are out there. The only limit is your willingness to spend :)

dogisbadob > Funktheduck 10/06/2018 at 18:21

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Sunroofs are awesome. Stop the hate :o)

In fact, I’d consider an Astra even though I hate GM, because of the manual hatch with panoramic.

Oh man I’d love to get a panoramic sunroof! If I could afford a new car, I’d go up to Canada and get a brand new Elantra GT in orange, manual transmission, and the big funroof. (NOTE: Down here, the GT isn’t offered in orange, and more importantly, the sunroof is a $6000 option, and only with the automatic, so like 27k total. But Canada offers a manual GT with the panoramic for 22k)

Leaky sunroof has never been a problem for me, and I have owned several of them. And Toyota knows how to make cars, so they know how to make a sunroof that doesn’t leak.

The leaks mostly happen with aftermarket sunroofs.

E92M3 > Dr. Zoidberg - RIP Oppo 10/06/2018 at 18:29

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I’ve never owned a brand new car. I just can’t swallow the depreciation. I have convinced myself a few times that I could allow myself to buy a new Ridgeline, but only because they hold their value so well. Once the 2nd gen starts having a decent used inventory, that won’t be true anymore. Right now it doesn’t make sense to buy one with 20-30 k miles, when you can buy a brand new for just $3- 4k more ( after negotiating $3500-4000 off MSRP).

I would love to be at the point financially where I could justify a brand new, sensible vehicle purchase every 5 years.

Dr. Zoidberg - RIP Oppo > E92M3 10/06/2018 at 18:34

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Yeah I’m not going hungry or nothing, but I see all the people with new cars parked in front of their homes — including very modest homes  and I’m like, “but how?!” I assume extreme financial savvy or extreme debt.

E92M3 > Dr. Zoidberg - RIP Oppo 10/06/2018 at 19:20

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I know a couple families with six figure student loan balances, and another six figures (or very close to it) in car debt. The y also have mortgages. I don’t know how they sleep at night. They don’t seem too worried, “intrest rates are low, no sense trying to pay them off early. We use that money to invest and make more that the 4-5% it costs us. ”

Ok, then....

Dr. Zoidberg - RIP Oppo > E92M3 10/06/2018 at 19:28

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When one’s income is high enough, the options to exploit your opportunities are endless. I suppose if you have a high-paying job that's recession proof and you're incapable of losing said job, debt loses some meaning. It's like a radiologist who's six figures in debt from his education -- but now makes 200k a year. "Meh, tiny bill, pay the minimum, jump in my Porsche."

Funktheduck > dogisbadob 10/06/2018 at 20:23

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My leak was on my Lexus......

But you did illustrate another issue I have. They always have to come with some sort of expensive package and almost always auto only.

If I’m buying a new car I want it the way I want it and I refuse to pay some ridiculous Marie up for one feature I want because it only comes bundled in a tech or luxury package. 

merged-5876237249235911857-hrw8uc > Dr. Zoidberg - RIP Oppo 10/06/2018 at 21:10

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Leases, that’s how. But then again, my wife and I bought the first, and hopefully last new new car when we got the pacifica. They were too new to have used ones on the market. But we only have our house payment and that one car payment. So it’s not too bad. We have only carried one payment at a time, and we go 3 year terms. So it’s paid off quick and we get a reprieve for a year or two.... maybe, if I don’t get the itch to change cars. But we also ran two 7 paid off year old cars for a couple years when we first got married to pay down debts. Now we have a bit more flexibility, but we also have four little ones as well.

But most of the new cars around us are leases...  never made sense to me to rent a car and have no asset once your 2-3 years is up.  To each their own though.  But new cars are a waste of money, a good 2-3 year old CPO is where it’s at.  Let somebody else take the depreciation hit and you get a better warranty typically.  Win win.  

merged-5876237249235911857-hrw8uc > Dr. Zoidberg - RIP Oppo 10/06/2018 at 21:16

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Just keep plugging away. It’s tough to ever justify a car purchase if you’re up to your eyeballs in debt. When I got married we buckled down for 2 years to pay off our debts, mostly mine. Now we are finally are down to a single car payment and a house payment. But we also stayed in our, too small for our family, house for 5 years longer than we really wanted to, but it afforded us a lot of flexibility.  Living below your means is awesome.  But it takes discipline and patience.  

RiceRocketeer Extraordinaire > Dr. Zoidberg - RIP Oppo 10/08/2018 at 00:28

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I think having recurring payments (and insurance and registration) start making cars look like rolling money pits. I miss my ‘99 Camry that was dirt cheap to run, repair, and insure. It was a h orrible car but running it felt like being almost outside the depreciation trap.

That said, wifey gets new(ish) cars that have all the active safety crap because her driving terrifies   me. Self driving cars cannot come soon enough.

E92M3 > Dr. Zoidberg - RIP Oppo 10/08/2018 at 01:55

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Fair point, I guess compared to their mortgage they are   small debts . Sounds like a glorious position to be in. “ Meh, we could pay that off in 6 months if we wanted”.