Author Topic: Best Family Sedan? (Read 77638 times)

Yeki89 · « **Reply #180 on:** September 23, 2011, 12:12:10 AM »

didnt realize

aussiebochur · « **Reply #181 on:** October 11, 2011, 09:49:14 PM »

Perhaps this deserves its own (or belongs in a different) thread but with all the discussion re cars figured I could post here.

Im not looking to buy or lease a car so haven't really looked into it but just from observations I wonder.

It seems buying a car is about 100x the cost of leasing a car per month. Meaning a car you car you can get for $30k is $300/month.

So to reach the total cost of buying, you would have a leased car for 100 months or 8 years, 4 months.

Now obviously an almost 9 year old car would be worth something but the tradeoff is that you've had one car in that period instead of 3, so besides the "new car" factor servicing/fixing etc probably cost much more.

Or in a different scenario, after 6 years you want to sell your used car. Let's say you get $10k for it, if you would have leased that car would have cost you $21,600 and you would've had 2, again probably saving on servicing/upkeep.

So why do people buy cars?
Is my math way off?
Are there other variables that I've totally ignored/don't know about?
Or, is it getting the 25% off a new car which you just can't do on a lease?

Dan · « **Reply #182 on:** October 11, 2011, 10:10:03 PM »

I think your numbers may be off.
The sticker on my car was ~$28K (Altima with Leather/SL Moonroof Package) and I paid $21K. A 36 month lease would've been about $350/month or $12,600.
So basically I bought a 3 year old Altima for about $8,400. I don't think I'll have a hard time at all flipping it after 3 years for a profit if I'm so inclined.

Plus I don't have to worry about getting dinged for any scratches/alleged damages to the car, any disposition fees, and any fees for going over 12K miles per year.
And my insurance is cheaper (currently paying $290/6 months for 2 drivers with full coverage) than had I leased it.

BAHayman · « **Reply #183 on:** October 11, 2011, 10:35:20 PM »

Quote from: Dan on October 11, 2011, 10:10:03 PM

Plus I don't have to worry about getting dinged for any scratches/alleged damages to the car.

+1, that's why I financed. It's also an asset which depending on ones situation could be very useful...

aussiebochur · « **Reply #184 on:** October 11, 2011, 10:39:51 PM »

Fair enough.

Just heard that the Lincoln MKZ was being leased for $300/month.
With a sticker price of $36k, figured $30k is a fair price for comparison.

Although, the factors definitely add weight to buying.

BOTOH, the money put down could be racking up miles

Guess it depends on each ones situation, was just wondering...

smurf · « **Reply #185 on:** October 11, 2011, 10:53:31 PM »

Quote from: aussiebochur on October 11, 2011, 10:39:51 PM

Fair enough.

Just heard that the Lincoln MKZ was being leased for $300/month.
With a sticker price of $36k, figured $30k is a fair price for comparison.

Although, the factors definitely add weight to buying.

BOTOH, the money put down could be racking up miles

Guess it depends on each ones situation, was just wondering...

Did I get it right

myb821 · « **Reply #186 on:** October 11, 2011, 10:54:53 PM »

Quote from: smurf on October 11, 2011, 10:53:31 PM

Did I get it right

yup

Ergel · « **Reply #187 on:** October 15, 2011, 11:36:38 PM »

Just wanted to post my experience.

I test drove a bunch of cars (Honda Accord, Nissan Altima and Toyota Camry) and settled on the Hyundai Sonata Limited (the lowest level they have in leather). It seems like a pretty cool car and we are pretty excited about it.

Even though I posted before that I thought there was a big difference between a 4 and 6 cylinder engine when I test drove I didn't think it was that much of a idfference (and so far it seems fine). Definitely didn't seem to be worth the extra couple of thousand dollars or lost gas mileage, as Dan said.

In terms of price: Dan posted that he can get 20-30% of the sticker price, which is pretty impressive. I don't believe that most people will be able to reproduce what Dan was able to do. I will post my experience which I believe everyone can reproduce.

The sticker price was $27,495 and the first quote I recieved was 27k (obviously ridiculous). I went on AMEX ZAG and received an offer of $24,650. I emailed a bunch of the dealers in Baltimore and the best I received was $24,750. I then emailed all the dealers in New Jersey and received an offer of $24,292. I then emailed that offer to all the dealers in New York and Atlantic Hyundai said they could beat it by $300. I emailed them what additional fees will added and they said just DMV fees, taxes and 75 documentation fee 10 and 12.50. When I got to the dealership they honored the quote and what they brought out the papers with the total price they added a $379 dealership fee. I said I have it in writing that there will be no additional fees and because I had it in writing they honored that (actually took the $379 off the price of the car because they said that they have to charge this $379 fee) so in the end I paid $23,549 (which is 15% off the sticker). And I had a bunch of dealerships refusing to match even at $24,750.

sky121 · « **Reply #188 on:** October 15, 2011, 11:44:47 PM »

When I was helping my family out to buy a Town and Country a few years back I called a bunch of dealers in NY/Balt etc and then I called Detroit. When I came back to Baltimore I had dealers who didn't believe the low prices I was being offered and wanted to call to see for themselves.

Dan · « **Reply #189 on:** October 16, 2011, 12:15:30 AM »

Quote from: Ergel on October 15, 2011, 11:36:38 PM

Just wanted to post my experience.

I test drove a bunch of cars (Honda Accord, Nissan Altima and Toyota Camry) and settled on the Hyundai Sonata Limited (the lowest level they have in leather). It seems like a pretty cool car and we are pretty excited about it.

Even though I posted before that I thought there was a big difference between a 4 and 6 cylinder engine when I test drove I didn't think it was that much of a idfference (and so far it seems fine). Definitely didn't seem to be worth the extra couple of thousand dollars or lost gas mileage, as Dan said.

In terms of price: Dan posted that he can get 20-30% of the sticker price, which is pretty impressive. I don't believe that most people will be able to reproduce what Dan was able to do. I will post my experience which I believe everyone can reproduce.

The sticker price was $27,495 and the first quote I recieved was 27k (obviously ridiculous). I went on AMEX ZAG and received an offer of $24,650. I emailed a bunch of the dealers in Baltimore and the best I received was $24,750. I then emailed all the dealers in New Jersey and received an offer of $24,292. I then emailed that offer to all the dealers in New York and Atlantic Hyundai said they could beat it by $300. I emailed them what additional fees will added and they said just DMV fees, taxes and 75 documentation fee 10 and 12.50. When I got to the dealership they honored the quote and what they brought out the papers with the total price they added a $379 dealership fee. I said I have it in writing that there will be no additional fees and because I had it in writing they honored that (actually took the $379 off the price of the car because they said that they have to charge this $379 fee) so in the end I paid $23,549 (which is 15% off the sticker). And I had a bunch of dealerships refusing to match even at $24,750.

To be fair, I got a $1,000 financing rebate and a $500 college grad rebate which lowered the price of my Altima. Entirely possibly I could've wound up with the Sonata had the passenger seat been a bit higher-up or if they just made it height adjustable.
No mater though as we're absolutely in love with the Altima.

aussiebochur · « **Reply #190 on:** October 16, 2011, 12:24:36 AM »

Quote from: Ergel on October 15, 2011, 11:36:38 PM

Just wanted to post my experience.

I test drove a bunch of cars (Honda Accord, Nissan Altima and Toyota Camry) and settled on the Hyundai Sonata Limited (the lowest level they have in leather). It seems like a pretty cool car and we are pretty excited about it.

Even though I posted before that I thought there was a big difference between a 4 and 6 cylinder engine when I test drove I didn't think it was that much of a idfference (and so far it seems fine). Definitely didn't seem to be worth the extra couple of thousand dollars or lost gas mileage, as Dan said.

In terms of price: Dan posted that he can get 20-30% of the sticker price, which is pretty impressive. I don't believe that most people will be able to reproduce what Dan was able to do. I will post my experience which I believe everyone can reproduce.

The sticker price was $27,495 and the first quote I recieved was 27k (obviously ridiculous). I went on AMEX ZAG and received an offer of $24,650. I emailed a bunch of the dealers in Baltimore and the best I received was $24,750. I then emailed all the dealers in New Jersey and received an offer of $24,292. I then emailed that offer to all the dealers in New York and Atlantic Hyundai said they could beat it by $300. I emailed them what additional fees will added and they said just DMV fees, taxes and 75 documentation fee 10 and 12.50. When I got to the dealership they honored the quote and what they brought out the papers with the total price they added a $379 dealership fee. I said I have it in writing that there will be no additional fees and because I had it in writing they honored that (actually took the $379 off the price of the car because they said that they have to charge this $379 fee) so in the end I paid $23,549 (which is 15% off the sticker). And I had a bunch of dealerships refusing to match even at $24,750.

Did you look into leasing the same car?
Was it a feasible option?

Name Changed · « **Reply #191 on:** October 16, 2011, 12:55:59 AM »

I also just bought the sonata. I got the GLS Model for 18,000

I did negotiating by a few dealers.... I learnt on thing - all the ads are lies - They just want you to come in

I was thinking about the altima too... And at the time I got my sonata (in May) I did see good price options on the altima

Just a tip to the public... Research the rebates you are eligible before you speak to the dealer, and get a price from them... (without telling them what you are eligible for) then use the rebates to lower your price...

Dan · « **Reply #192 on:** October 16, 2011, 12:58:57 AM »

Quote from: Name Changed on October 16, 2011, 12:55:59 AM

Just a tip to the public... Research the rebates you are eligible before you speak to the dealer, and get a price from them... (without telling them what you are eligible for) then use the rebates to lower your price...

+1

interested · « **Reply #193 on:** October 16, 2011, 10:59:01 AM »

just bought 2012 altima 2.5S for $18,100 + $900 finance charge. excluding finance charge it is a 30% discount of sticker price of $23,805. they told me they are losing $500 on the deal. Also i was able to put $6000 on my credit card.

Dan · « **Reply #194 on:** October 16, 2011, 11:02:57 AM »

Quote from: interested on October 16, 2011, 10:59:01 AM

they told me they are losing $500 on the deal.

lol

sguitarist18 · « **Reply #195 on:** October 16, 2011, 12:23:20 PM »

Another point when it comes to leasing vs. buying is that from what I've heard, when you lease, you pay at least an extra $1000 in the first month.

The issue with your math is that it also doesn't take into account what happens after 10 years (sounds kinda like this administration's health care plan). When you lease, you just keep paying and paying. When you buy, you can have a car for much longer than that, and after those 100 months, it's totally free (aside from repairs).

Dan · « **Reply #196 on:** October 16, 2011, 12:24:41 PM »

Quote from: sguitarist18 on October 16, 2011, 12:23:20 PM

Another point when it comes to leasing vs. buying is that from what I've heard, when you lease, you pay at least an extra $1000 in the first month.

The issue with your math is that it also doesn't take into account what happens after 10 years (sounds kinda like this administration's health care plan). When you lease, you just keep paying and paying. When you buy, you can have a car for much longer than that, and after those 100 months, it's totally free (aside from repairs).

If the payback period was 10 years then I would have leased. I think it's much less than that especially with negotiation.

sguitarist18 · « **Reply #197 on:** October 16, 2011, 12:35:37 PM »

Even according to the calculations listed above, it would only have been a bit over 8 years, and less than that when you calculate in the down payments.

I wasn't calculating in negotiations, but the price/lease ratio may be different depending on the car. For example, a toyota camry has a base price of about 22,000, I think - but there were deals to lease it for $200 a month.

Dan · « **Reply #198 on:** October 16, 2011, 12:47:39 PM »

Quote from: sguitarist18 on October 16, 2011, 12:35:37 PM

the price/lease ratio may be different depending on the car.

It most definitely will be different based on the model and its predicted residual value.

Name Changed · « **Reply #199 on:** October 16, 2011, 12:50:08 PM »

A friend of mine leased a Accord and at the time of signing negotiated the buyout price. He will end up (if he buys it) paying about $18,500!

Quote from: interested on October 16, 2011, 10:59:01 AM

they told me they are losing $500 on the deal.

They are losing money on the sale of the car... but they really are making money from the incentives they get form the car manufactures
I read this before I bought a car - http://www.carbuyingtips.com/carintro.html - a lot of useful info to know before walking into a dealership.