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Should I buy a new car next week or a used one?


best3444

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15 hours ago, Biggie said:

According to @Spork3245 it’s a sweeeeet ride 

 

Napoleon Dynamite Sunglasses GIF


Learn to read. I know it’s difficult with your education level but it’s essential to life.

 

9 hours ago, Ominous said:

I mean if you want to know what a tesla rides like find an old civic and then downgrade the interior and then there you go. 

 

And cut off the steering wheel of the civic and replace it with a console controller :p 
 

7 hours ago, best3444 said:

 

Sweet!

 

7 hours ago, Biggie said:

Black or dark blue? Either way looks really good. 


bUt It’S a FoRD

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On 3/23/2024 at 9:58 AM, SmugPrick said:

I just traded in my TRX for a BMW M2 last week. tripled the gas mileage and have something more fun in the twisties!

But how do you tow things take up two parking spots?

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11 minutes ago, best3444 said:

What's everyone's thought on KIA's?

As someone who worked at a major automaker for 20 years (about half in product development finance).

The specific vehicle from a brand is probably more important than the brand itself.  All brands have vehicles that are much better than their average, and others that are much worse.

If you're willing to get used, the best deals are usually on 2-3 year old vehicles (particularly low mileage ones).  They've depreciated a fair bit, but still haven't seen much wear.  Avoid buying used cars at dealers, as they have huge markups.

Pay attention to the incentives, the MSRP is not always a good gauge of what your price out the door will be.

And for god sakes, don't buy extended warranties, rust protection, etc.

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6 minutes ago, best3444 said:

 

My dad brought it to my attention. They have great warranties but @AbsolutSurgen says not to buy them?

Is that what he said, or did he say that the specific car model matters more than a generalization about the brand? :silly::p

 

For what it's worth, the Koreans (Kia, Hyundai, Genesis, etc) all pack their cars with tech features which are really nice and they have some of the best warranties in the industry too. 

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3 minutes ago, Nokra said:

Is that what he said, or did he say that the specific car model matters more than a generalization about the brand? :silly::p

 

For what it's worth, the Koreans (Kia, Hyundai, Genesis, etc) all pack their cars with tech features which are really nice and they have some of the best warranties in the industry too. 

 

I meant that he said not to buy warranties if that even makes sense?

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4 minutes ago, best3444 said:

 

I meant that he said not to buy warranties if that even makes sense?

I see, I'm tired as shit and misread your post, apologies. :blush:

 

In my understanding, normally car extended warranties are a way for the dealerships to just make easy money. Especially when the standard warranty on Kias, Hyundais, etc. is so good (up to 10 years on some parts) and vehicle reliability is generally good these days it hardly is necessary, plus there are often all kinds of limitations on the warranty and they can cost thousands of dollars more. Unless a sudden incident costing $1000+ is going to severely mess you up financially to where a warranty would be nice, you're probably better off just foregoing the extended warranty. 

 

But I'm certainly no expert, and your situation might be different, of course. 

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3 minutes ago, Nokra said:

I see, I'm tired as shit and misread your post, apologies. :blush:

 

In my understanding, normally car extended warranties are a way for the dealerships to just make easy money. Especially when the standard warranty on Kias, Hyundais, etc. is so good (up to 10 years on some parts) and vehicle reliability is generally good these days it hardly is necessary, plus there are often all kinds of limitations on the warranty and they can cost thousands of dollars more. Unless a sudden incident costing $1000+ is going to severely mess you up financially to where a warranty would be nice, you're probably better off just foregoing the extended warranty. 

 

But I'm certainly no expert, and your situation might be different, of course. 

 

This makes sense. Thanks for the post. 

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15 minutes ago, best3444 said:

 

I didn't yet. I'm in no hurry that's why I was inquiring abou Kia. It will be "soon" though. 

Real talk. Shouldn’t you make sure you have steady income before taking on a car payment along with insurance?

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5 minutes ago, Biggie said:

Real talk. Shouldn’t you make sure you have steady income before taking on a car payment along with insurance?

 

Real talk I get $750 a month for the rest of my life. Plus the $54K I have in my bank right now. 

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6 minutes ago, best3444 said:

 

Real talk I get $750 a month for the rest of my life. Plus the $54K I have in my bank right now. 

Is that $54k your only savings and the $750/month your only income for the foreseeable future? 

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21 minutes ago, Nokra said:

Is that $54k your only savings and the $750/month your only income for the foreseeable future? 

 

$54K I just got last week for retirement. I will be getting a job so no the $750 will not be my only income. Plus I have absolutely no expenses as I'm living for free. The $750 can be used for a car payment and insurance. 

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1 hour ago, best3444 said:

 

$54K I just got last week for retirement. I will be getting a job so no the $750 will not be my only income. Plus I have absolutely no expenses as I'm living for free. The $750 can be used for a car payment and insurance. 

Your 54k is all you have for retirement?  Are you taking your payout from your pension and spending it on living?

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3 hours ago, best3444 said:

 

My dad brought it to my attention. They have great warranties but @AbsolutSurgen says not to buy them?

Extended warranties are huge margin opportunities for both the dealers, and to a slightly smaller extent the insurance companies.

(I may have been invloved in the pricing and profitability analysis of Extended Warranties for a well-known OEM in Canada about 20 years ago.)

Anytime there are huge margins on an insurance product, it's in your long-term interest not to buy them.

Manufacturer warranties are included in the price of your car -- so aren't the same thing.

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