Help me choose an SUV - ...

[Goatweed]

:thumbs-up:

[Goatweed]

so I ended up with the Highlander :

<img src=http://img2.photobucket.com/albums/v11/Goatweed/misc/highlander.jpg>

I pick it up next Saturday. I made out great, too - I essentially got the base model, but with practically all of the available options (no leather, no moonroof, no spoiler and no runningboards) for a cost slightly above the base invoice price. Got a decent 3.9% over 5 years as well.

I'm gonna get so many bitches with this ride, too.

[Keyser Soze]

what are your monthly payments? how much did you put down?

[Mad]

What kind of gas mileage does it get and what color you end up with?

[Goatweed]

what are your monthly payments? how much did you put down?

$460/munF, total - and I can prepay anytime I like.

What kind of gas mileage does it get and what color you end up with?

it gets 18 city/24 highway, and looking over several Toyota boards that's pretty much the case (though it takes a little time for the engine to adjust to that, or something). I settled on silver, mainly because I got a great quote fro a dealership in NJ, but I used it as leverage to get the car here on SI (saving me the trip over the bridge) and it was way below what the SI dealer was offering - so it was a "beat/match this, and I'll take it today" thing, and he only had what I wanted in silver or white. White is a bitch to maintain, so silver it is.

[drusilla]

enjoy dude. i'm glad you didn't go for the new durango. i think they are a fucking disgrace.

[Keyser Soze]

what was the base invoice price?

[Goatweed]

what was the base invoice price?

with all of the options included (at invoice price) it came to $27K, and I didn't pay much more than that - including the immobilizer key, engine kill alarm and window etching.

[Keyser Soze]

wow, and its all yours in 5 years? not bad.

[Goatweed]

yeah, researching online really helped a lot - as did getting internet quotes because the draw of the quotes is a low price with a set amount of options - thereby cutting out the negotiations (mostly). Most dealerships want any business though, so they match or beat these quotes which ultimately hurts the salesguys, NOT the dealerships because even if they sell cars at invoice the dealer makes money - the sales reps need to seel above invoice to make a commission (which part of still goes to the dealership anyway).

They tried to snow me on the financing too, because they just had a sale with 1.9% on this SUV bit for 3 years and I couldnt afford that (I needed 5) - the sale expired and they tried to get me a rate over 5 despite the fact that my credit is near platinum - so I kinda lied and told them that if they cant get me 3.9 Im gonna go to an online bank and get it - once they heard that, they went down for me (even though I didnt have an online bank). Overall I made out really good on it, and anyone who doesnt go online to research buying a car is not only a fool but will most likely get ripped off.

[Kid Afrika]

Anyone who buys a car today without putting 50% down or paying all cash is a fool.

Then again, I lease.

Online deals are okay, but buying from a sales manager you've known for 10 years really helps out quite a bit too.

[Goatweed]

well I didnt have all cash, let alone 50% to put down - and leasing is just renting, at least I'm paying to own.

[Keyser Soze]

once again kid tries to sound smart without using any logic whatsoever.

[Kid Afrika]

When you finance a car, you end up paying so much in interest and at the end of the loan your car is paid for, but it's now a 5 or 6 year old car that's worth about 25% (on average) of what you paid for it.

Is that logical?

Buying a house makes more sense than renting. That I'll agree with. Buying a car, for me, is not worth it unless you avoid long loan terms and paying a lot of interest by making a huge down payment or paying in full in cash.

But hey, I get tired of driving the same car after about 2 years, so leasing is great for me. Also, I'll never have to pay maintenance with a warranty that outlasts my lease.

[Goatweed]

I agree that the value of the car decreses as soon as you drive it off the lot, but foreign cars, Toyotas especially retain their resale value very well.

Believe me, if I had the spare cash to use I would pay it that way - despite the rumors, I am far from rich. And while leasing is a nice idea in that the payments tend to be less than financing, they often place restrictions on the lease (mileage, physical additions/replacements [changing the radio is often a HUGE no-no], etc.) and I don't like restrictions.

[Kid Afrika]

Mileage is a concern for many people with leasing. I don't put a ton of mileage on my vehicles, so it's not a problem for me. As far as payments...

On the same day, my mother bought a 2003 Ford Escape and I leased a 2003 Dodge Durango SLT. Here's the tale of the tape...

My down payment on a $33,000 Durango, $1,000, monthly payment, $410. 39-month lease.

My mother's down payment on a $24,000 Escape, $5,000, monthly payment, $425. 60-month financing.

So, that's another advantage (IMO) to leasing... less down, lower payment. And to be totally honest, if it weren't for leasing, I'd be driving about a $12,000 car and paying the same $410/month.

[Keyser Soze]

my point was very few people can afford to put 50% down on a car.

[Kid Afrika]

my point was very few people can afford to put 50% down on a car.

No, your point was to say that I don't know that the fuck I'm talking about.

I didn't say anyone could afford it, I said it's the ideal situation. Anything less and you're getting fucked. Hell, if you think about it, you're getting fucked regardless if you buy a car. Once it's titled, it loses quite a bit of it's value. So, in reality, you're actually paying more than it's worth to start with even if you get a killer deal.

By the way, dealer invoice pricing doesn't really mean shit. They get discounts and rebates that you'll never know of that save them thousands of dollars on any car over 25K. Sub-25K cars typically have less profit built-in and that's why they hit you so hard with aftermarket accessories, services and extended warranties.

Most dealerships get a discount of several thousand dollars per car for stocking so many units on their lot. They get secondary paybacks for moving so many units per month. Sales people get bonuses for selling certain models during some promotions and as such they can take a hit on the "sale price" because they make it back in incentives.

The funniest thing I could never begin to share with you is the shit that car salespeople say about you "educated buyers" behind your backs. I spent many years working with sales managers and sales people trying to make "spot" deals. I sat in the smoker's gazebo at several dealerships listening sales people talking about how dumb customers are and how they hit this guy over the head... In general, no matter how educated you are, you can still get taken for a ride.

[Goatweed]

<!-- m --><a class="postlink" href="Http://www.edmunds.com">Http://www.edmunds.com</a><!-- m --> - theres an article on here called "Confessions of a car salesman" - I HIGHLY recommend everyone read it. It's a very candid look at what goes on at dealerships.

Kid is absolutely right in regards to the unknown rebates and breaks dealerships get - so even in you pay invoice, they're making money on you (despite the misconception that the dealer pays invoice - he doesnt, nowhere near). From Invoice to sticker is where the leadership and the sales rep make theyre $$, and I assume the percentage differs among dealerships. That's why its perfectly fine to go into a dealership and completely ignore the sticker price, and ask to get or at least start at invoice price.

Like I said, I didn't pay much above invoice so Im pretty happy - there are people out there that actually pay sticker, or close to it. It's pretty sad.

[Keyser Soze]

No, your point was to say that I don't know that the fuck I'm talking about.

No, everything you are saying is true, but my point was your warped logic that it was no big deal to lay down 50% on a car and anyone who does not is a fool.