Well Crap Crap Crappity Crap Crap
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Breaking all my rules…
Rule number 1 in Brad’s rules of car buying - Never buy when you HAVE TO… Well, my wife’s Ford just died…Tight in the middle of the shortage, too.
Rule number 2 in Brad’s rules of car buying - Never buy new…The used version of the car we want is only 15% less than the new version through the Costco program… Plus, Honda is offering .9% for up to 60 months… Used interest rates are starting at 4%… Plus, we really want at least 10 years out of this next vehicle. Two extra years is two extra years… Plus the general assurance you get from a new car with Karla and Finley driving down to visit Lucas…
So I put the deposit down this morning to reserve a new 2022 Honda Pilot. Now we’re just figuring out the details, which leads to…
Brad’s rules of car buying #3: Never lease! Right now, the cash difference between purchasing outright and leasing 3 years and buying it at the end of the lease is only $4500… There are significant tax benefits for Karla to lease it and apply 60% for her business use… Yes, she can depreciate up to 6K the first year if we just buy it, but 60% of the lease payments over 36 months is a lot better, then she can still depreciate the 6K if we buy it at the end of the lease (and the buyout is 6K less than what used versions are going for today…) The payments and down payment are a lot lower with the lease (more in line of what my cheap ass was willing to spend when we started this process) and would be welcome over 3 years while Lucas is in college…The biggest catch in my opinion is the interest we would be paying on the used would be much higher. We are probably not going to choose to lease, but it is a far closer thing than I originally figured…
@lufins-dad said in Well Crap Crap Crappity Crap Crap:
Breaking all my rules…
Rule number 1 in Brad’s rules of car buying - Never buy when you HAVE TO… Well, my wife’s Ford just died…Tight in the middle of the shortage, too.
Rule number 2 in Brad’s rules of car buying - Never buy new…The used version of the car we want is only 15% less than the new version through the Costco program… Plus, Honda is offering .9% for up to 60 months… Used interest rates are starting at 4%… Plus, we really want at least 10 years out of this next vehicle. Two extra years is two extra years… Plus the general assurance you get from a new car with Karla and Finley driving down to visit Lucas…
So I put the deposit down this morning to reserve a new 2022 Honda Pilot. Now we’re just figuring out the details, which leads to…
Brad’s rules of car buying #3: Never lease! Right now, the cash difference between purchasing outright and leasing 3 years and buying it at the end of the lease is only $4500… There are significant tax benefits for Karla to lease it and apply 60% for her business use… Yes, she can depreciate up to 6K the first year if we just buy it, but 60% of the lease payments over 36 months is a lot better, then she can still depreciate the 6K if we buy it at the end of the lease (and the buyout is 6K less than what used versions are going for today…) The payments and down payment are a lot lower with the lease (more in line of what my cheap ass was willing to spend when we started this process) and would be welcome over 3 years while Lucas is in college…The biggest catch in my opinion is the interest we would be paying on the used would be much higher. We are probably not going to choose to lease, but it is a far closer thing than I originally figured…
Look at what the high mileage lease costs. You might be surprised, depending on how much you use the car and what the tax benefits are. One in three new cars are leased today. There is a reason...
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BTW, my daughter is taking a new job, outside of the public school system. Hate to see it in some respects (she becomes eligible for early retirement in six years), but it is still working with public school teachers, albeit with a private company.
Mainly, it's because they made her an offer at double her present salary.
So...She drives a leased Honda Pilot. Loves the car, but she's got some traveling to do a couple of days a week. Nothing overnight, but maybe as much as 150 miles or more in a day. This means the purchase of an economical road car, preferably used...Think Toyota Corolla, etc.
You ought to see the prices...
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Breaking all my rules…
Rule number 1 in Brad’s rules of car buying - Never buy when you HAVE TO… Well, my wife’s Ford just died…Tight in the middle of the shortage, too.
Rule number 2 in Brad’s rules of car buying - Never buy new…The used version of the car we want is only 15% less than the new version through the Costco program… Plus, Honda is offering .9% for up to 60 months… Used interest rates are starting at 4%… Plus, we really want at least 10 years out of this next vehicle. Two extra years is two extra years… Plus the general assurance you get from a new car with Karla and Finley driving down to visit Lucas…
So I put the deposit down this morning to reserve a new 2022 Honda Pilot. Now we’re just figuring out the details, which leads to…
Brad’s rules of car buying #3: Never lease! Right now, the cash difference between purchasing outright and leasing 3 years and buying it at the end of the lease is only $4500… There are significant tax benefits for Karla to lease it and apply 60% for her business use… Yes, she can depreciate up to 6K the first year if we just buy it, but 60% of the lease payments over 36 months is a lot better, then she can still depreciate the 6K if we buy it at the end of the lease (and the buyout is 6K less than what used versions are going for today…) The payments and down payment are a lot lower with the lease (more in line of what my cheap ass was willing to spend when we started this process) and would be welcome over 3 years while Lucas is in college…The biggest catch in my opinion is the interest we would be paying on the used would be much higher. We are probably not going to choose to lease, but it is a far closer thing than I originally figured…
@lufins-dad Right there with you
My trusty ´09 car, which I had bought brand-new, was deemed a total loss after a collision last week, and I suddenly found myself in the "oh shit I need a car now" situation. Never a good situation, but right now is a horrible time to be in that situation. The used cars I was finding online were selling out within a day or two of me saving them to my list.I broke one of my car buying rules, too--if buying used, take it for a pre-purchase inspection--because if I waited until I could get it checked out, it would have surely been gone. Lots of anxiety over that, but it just passed inspection, and fingers crossed, I won´t need to buy a car in the next decade or so.
´16 Mazda 3 hatchback, manual, 19K miles
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@lufins-dad Right there with you
My trusty ´09 car, which I had bought brand-new, was deemed a total loss after a collision last week, and I suddenly found myself in the "oh shit I need a car now" situation. Never a good situation, but right now is a horrible time to be in that situation. The used cars I was finding online were selling out within a day or two of me saving them to my list.I broke one of my car buying rules, too--if buying used, take it for a pre-purchase inspection--because if I waited until I could get it checked out, it would have surely been gone. Lots of anxiety over that, but it just passed inspection, and fingers crossed, I won´t need to buy a car in the next decade or so.
´16 Mazda 3 hatchback, manual, 19K miles
@optimistic said in Well Crap Crap Crappity Crap Crap:
@lufins-dad Right there with you
My trusty ´09 car, which I had bought brand-new, was deemed a total loss after a collision last week, and I suddenly found myself in the "oh shit I need a car now" situation. Never a good situation, but right now is a horrible time to be in that situation. The used cars I was finding online were selling out within a day or two of me saving them to my list.I broke one of my car buying rules, too--if buying used, take it for a pre-purchase inspection--because if I waited until I could get it checked out, it would have surely been gone. Lots of anxiety over that, but it just passed inspection, and fingers crossed, I won´t need to buy a car in the next decade or so.
´16 Mazda 3 hatchback, manual, 19K miles
So...how is Opti doing after the wreck?
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@optimistic said in Well Crap Crap Crappity Crap Crap:
@lufins-dad Right there with you
My trusty ´09 car, which I had bought brand-new, was deemed a total loss after a collision last week, and I suddenly found myself in the "oh shit I need a car now" situation. Never a good situation, but right now is a horrible time to be in that situation. The used cars I was finding online were selling out within a day or two of me saving them to my list.I broke one of my car buying rules, too--if buying used, take it for a pre-purchase inspection--because if I waited until I could get it checked out, it would have surely been gone. Lots of anxiety over that, but it just passed inspection, and fingers crossed, I won´t need to buy a car in the next decade or so.
´16 Mazda 3 hatchback, manual, 19K miles
So...how is Opti doing after the wreck?
@jolly A lot shaken (I had a friend in the passenger seat who needed to be checked out; luckily, just arm bruising from the air bag), but not so much as a scratch or an ache for me, thankfully. It could have been much worse in so many ways.
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@jolly A lot shaken (I had a friend in the passenger seat who needed to be checked out; luckily, just arm bruising from the air bag), but not so much as a scratch or an ache for me, thankfully. It could have been much worse in so many ways.
@optimistic said in Well Crap Crap Crappity Crap Crap:
@jolly A lot shaken (I had a friend in the passenger seat who needed to be checked out; luckily, just arm bruising from the air bag), but not so much as a scratch or an ache for me, thankfully. It could have been much worse in so many ways.
Thank goodness!
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@lufins-dad Right there with you
My trusty ´09 car, which I had bought brand-new, was deemed a total loss after a collision last week, and I suddenly found myself in the "oh shit I need a car now" situation. Never a good situation, but right now is a horrible time to be in that situation. The used cars I was finding online were selling out within a day or two of me saving them to my list.I broke one of my car buying rules, too--if buying used, take it for a pre-purchase inspection--because if I waited until I could get it checked out, it would have surely been gone. Lots of anxiety over that, but it just passed inspection, and fingers crossed, I won´t need to buy a car in the next decade or so.
´16 Mazda 3 hatchback, manual, 19K miles
Glad to hear you're okay.
Mazda 3 2014 manual is what we got for my daughter. It's been a good car for her these past 4 years; needs nothing but regular maintenance so far. I hope you enjoy driving your Mazda as much as she does.
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@jolly A lot shaken (I had a friend in the passenger seat who needed to be checked out; luckily, just arm bruising from the air bag), but not so much as a scratch or an ache for me, thankfully. It could have been much worse in so many ways.
@optimistic So glad to hear you are OK.
Surprised you found a manual transmission car!
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@jolly A lot shaken (I had a friend in the passenger seat who needed to be checked out; luckily, just arm bruising from the air bag), but not so much as a scratch or an ache for me, thankfully. It could have been much worse in so many ways.
@optimistic glad you're OK!
Scary, scary stuff!
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Well this happened today
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That's great, congrats! We are a Honda family btw. Now that it's in the past and obv YMMV (literally?) but with car buying I'm very much of the approach of not worrying too much about this deal or that deal or the sell vs lease vs used vs new. Get something (within budget) that you'll be happy driving (and watching other family members drive) for the next few years. Everything else is just in the weeds.
