I remember when people did not perpetually lease or buy cars all the time.

austinp · Dec 17, 2008

<i>"Unless, of course, BS Bernanke destroys confidence in fiat and even the people with cash find themselves effectively bankrupt!"</i>

Reality check: we're still on Bush & GOP timecard here. Have you seen the USD and savings rates this morning? What's left to be destroyed by anyone who follows? Damage is already done, courtesy of the GOP.

Registered Independent

Bytehoven · Dec 17, 2008

Quote from EMRGLOBAL:

I bought Just bought an Audi S8, (08) with 25k miles. Got a great deal on Cash purchase.

I'd love to hear the specifics on your A8 deal if you are willing to comment.

gnome · Dec 17, 2008

Quote from austinp:

<i>"Unless, of course, BS Bernanke destroys confidence in fiat and even the people with cash find themselves effectively bankrupt!"</i>

Reality check: we're still on Bush & GOP timecard here. Have you seen the USD and savings rates this morning? What's left to be destroyed by anyone who follows? Damage is already done, courtesy of the GOP.

Registered Independent

Oh no... only the tip of the iceberg so far. STUFF YOUR LIBERAL/NOBAMA BIAS... He and DemoCraps are also powerless to stop the rot.

Bush did more than his share of destruction, but this "situation" had it's origins in FDR's day. DemoCraps and RepupliClowns have both contributed mightily... much stink all around.

volente_00 · Dec 17, 2008

Quote from RedDuke:

I am glad, you all are enjoying you old cars, but there is nothing wrong with owning a great car and get a new one every 3 years.

I personally really enjoy driving a new luxury car.

The same logic can be applied to many other things. Why ever go to a fancy restaurant? I work hard and like to enjoy the fruits of my labor with my wife and friends and go to good restaurants at least few times a month.

I am not saying that one should go and spend money he does not have, but if one can spoil himself and his family a bit, why not? After all, we only live once.

Because one should never pay interest on a depreciating asset in a continuous cycle. If you have the cash then knock yourself out but you still have an opportunity cost of spending it on a depreciating asset. I have owned 12 different cars in the past 17 years. Then I bought a new toyota. It's a few years old now but still drives and looks like new and I will probably drive it at least 10 years or as long as it keeps on being reliable and low maintenance. Stop by a toyota dealership sometime and look as some of the mileage of the vehicles in there for oil changes. 100k is not even broke in. 200k is normal and many run to 300+ with nothing more than oil changes, tires, brake pads.

volente_00 · Dec 17, 2008

Quote from gnome:

Oh no... only the tip of the iceberg so far. STUFF YOUR LIBERAL/NOBAMA BIAS... He and DemoCraps are also powerless to stop the rot.

Bush did more than this share of destruction, but this "situation" had it's origins in FDR's day. DemoCraps and RepupliClowns have both contributed mightily... much stink all around.

Was it FDR's fault he inherited Hoover's bull$hit ?

Anaconda · Dec 17, 2008

Quote from gnome:

Oh no... only the tip of the iceberg so far. Stuff you Liberal/NObama bias... He and DemoCraps are also powerless to stop the rot.

Bush did more than this share of destruction, but this "situation" had it's origins in FDR's day. DemoCraps and RepupliClowns have both contributed mightily... much stink all around.

Is it really that hard to connect the dots? I don't get why anyone would say something like that and then continue being polarized by the whole Republican versus Democract theatre. It's about as real as WWE.

gnome · Dec 17, 2008

Quote from volente_00:

Was it FDR's fault he inherited Hoover's bull$hit ?

Don't think that matters... but in FDR's day it was conceived that deficit spending (however perceived as necessary at the time) began/accelerated the rot.

You must understand... without Gummint and Fed "intervention", we would NEVER experience bubbles, deflation, recession nor depression.... these are ALL "Gummint/Fed interventionist phenomenon"... and the entire premise of this intervention is THEFT BY DECEPTION...

Actually, Hoover's actions were best... even if he didn't understand why.

Lucrum · Dec 17, 2008

With the exception of an old Porsche I bought to drive (in case I got caught) without a DL for a year. I've owned every car I've had for a minimum of 6 years.
Current ride is a 99' Jeep Wrangler with 133K miles.

Self indulgence, living beyond your means
and having to out do your neighbors are expensive hobbies.

gnome · Dec 17, 2008

Quote from Lucrum:

With the exception of an old Porsche I bought to drive (in case I got caught) without a DL for a year. I've owned every car I've had for a minimum of 6 years.
Current ride is a 99' Jeep Wrangler with 133K miles.

Self indulgence, living beyond your means
and having to out do your neighbors are expensive hobbies.

Years ago I worked with a leasing brokerage, which included autos.

As it turns out, either "leasing cheaply" or "buy and drive 'till the wheels fall off" are about the same when measured by "time value of money"... NOT including the cost of insurance and licensing.... and presuming average repair costs.

If you're able to write off the cost of a lease for your business, that's the way to go for sure. But you need to shop wisely.

A good measure of value is whether the "lease payment + down stroke... amortized over the initial lease period" = 1-1.25% of MSRP.

If you're considering a deal where the "monthly payment + drive-off costs amortized over the life of the lease" = 2% of MSRP, you're getting HOSED!

krazykarl · Dec 17, 2008

I drive a 2004 Grand Prix with 82k miles on it. As soon as it's paid off, I'm driving it until the wheels fall off.

Knock-on-wood - nothing major with it. Had the sunroof motor go around 30k miles and GM replaced it without a hassle.

I'm actually happy with my car - it's very much a driver's car. I love when little rice burners pull up along side me on I75 and act all hard like they have something to prove.