What are the advantages of buying used right now?

[zrk]

are on the rent treadmill

Don't hate on renting. Some of us rent because we want to rent, not because we can't afford to buy a house.

This also doesn't mean we don't own real estate as investments.

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[Mason]

I think everyone here is on the same page. No one buys vehicles to « make » money. We are here because we spent money on something we enjoy.

 

[LinkMK5]

Don't hate on renting. Some of us rent because we want to rent, not because we can't afford to buy a house.

This also doesn't mean we don't own real estate as investments.

But that’s not really the rent treadmill then? You’re renting because you want to and can fiscally rationalize that decision based on other factors, not to mention if the costs of renting ever go up too much you’re not SOL. I guess my view is pretty west coast biased because here in the Seattle metroplex if you’re renting you’re usually getting screwed. My family rented only briefly on the East Coast bust that’s when we first came to the US and only until we could buy a home and back then it wasn’t the ridiculous rental prices we see today.

 

[bittermelon]

If you want a sound financial decision, buy a house, or invest in an index fund. When it comes to cars, just have a dollar amount you won’t go over, and answer some key questions, can I cover monthly payment? Is the financing sane? Do I want the car? Can my money better be served somewhere else (answer is always yes but can I live with parking funds in a depreciating asset)? Am I buying this to turn around and sell it? Do I love the car?

If you’re up to your eyeballs in debt and are on the rent treadmill, then maybe buying a car during one of the most expensive points in history isn’t a good idea. But assuming that you’re relatively stable in life, why not? I’ve buried enough of my friends who died with their whole life ahead of them to put things off for when I’m 50/60.

If you can’t find a dealer that has the car you want, or won’t not charge insane markup, buy it used if it hasn’t been flogged to a silly degree. Personally, I don’t trust anyone else to do break in correctly so I’d rather pay extra to be the first owner, but YMMV.

Yeah I completely agree with what you're saying. The Subaru was actually the first car I've ever bought and it's funny cause I read a review that said the Outback was like a top choice for people who over-research...and since it was my first car I really wanted to make sure I ticked all the boxes in price etc.
But I also realized that I'm 31, my fiance and I don't have kids yet so why did I buy this SUV?
I'm trying to weigh my options because having to deal with dealerships and such was such a pain last time... so I want to have a good gameplan and be confident that I'm not making a rash decision.

How do y'all think I should go with trading in my car? I was actually lucky cause I got it right before prices started to shoot up. KBB has it valued at $39k, I still owe $27k on it.

Would that $12k difference be the downpayment for the Supra? I also bought off the rest of my fiance's car earlier in the year and am selling it to Carvana and making a $7k profit on it which I would probably add onto this. I'm thinking the smartest choice would be to go through a Credit Union? I have one available to me that has interest rates around 1.74%

Any help would be greatly appreciated! Also does anyone know if any SoCal dealerships actually sell at MSRP?

 

[zrk]

But that’s not really the rent treadmill then? You’re renting because you want to and can fiscally rationalize that decision based on other factors, not to mention if the costs of renting ever go up too much you’re not SOL. I guess my view is pretty west coast biased because here in the Seattle metroplex if you’re renting you’re usually getting screwed. My family rented only briefly on the East Coast bust that’s when we first came to the US and only until we could buy a home and back then it wasn’t the ridiculous rental prices we see today.

Yeah- I suppose it's not. That's a fair point. I like to move around a little bit. I was in NYC for a while, now Chicago. I don't want to buy a new house and sell it every couple years. I'm very accustomed to 2500-3000/month for rent. I know I could.. not do that, but.. I'm going to still do it. I like what I like, I guess.

 

[Rando75]

Also does anyone know if any SoCal dealerships actually sell at MSRP?

Longo. 6 months wait.

 

[B58_ hwAyaq]

Come to think of it, it may no longer be a stretch to try to see if there's a social media presence for the car and see if previous owners were ever putting strain on the car, like street racing or drifting.

Definitely collect as much info as you can, but I’d rather have a car driven spiritedly with break in oil change and regular service then one that’s had 13k put on it without an oil change.

I heard someone on here mention it, but the people that track their cars actually tend to care more about maintenance then your average person.

 

[LoveSupra]

Best reason to buy a used early 2019/2020 model is that you can tune it easily and avoid the break-in period.

Only disadvantage is that you don't really know how hard the car has been driven. Then again the B58 motor is a beast. I'd probably only be concerned with the condition of the turbo.

 

[B58_ hwAyaq]

Don't hate on renting. Some of us rent because we want to rent, not because we can't afford to buy a house.

This also doesn't mean we don't own real estate as investments.

Or have well funded retirement accounts/plans. Owning a home is not a requirement to have enough money to stop working It can help, but not a requirement by a long shot.

 

[LinkMK5]

I think everyone here is on the same page. No one buys vehicles to « make » money. We are here because we spent money on something we enjoy.

Exactly, buying a Lamborghini is objectively stupid. Still absolutely will do it when I have the chance.

Yeah- I suppose it's not. That's a fair point. I like to move around a little bit. I was in NYC for a while, now Chicago. I don't want to buy a new house and sell it every couple years. I'm very accustomed to 2500-3000/month for rent. I know I could.. not do that, but.. I'm going to still do it. I like what I like, I guess.

I did the same thing when my wife and I moved to Seattle, we rented until we figured out exactly where we wanted to be and life circumstances forced our hand.

Or have well funded retirement accounts/plans. Owning a home is not a requirement to have enough money to stop working It can help, but not a requirement by a long shot.

See part about index funds . The point wasn't to shit on renting, but advise against sinking money on sports car without having some sort of plan for life in place. Soooooooo many of the guys I grew up with had the M3's and STI's young and early and were financially screwed because they got in over their head and then boom, here's a baby so now a one bedroom apartment makes less sense and hey, we won't lend to you at your current DTI.

@bittermelon more than likely the rate you'll get at your CU is better than anything the dealership will offer you. IANAFA but don't bother putting much more down than your trade in value (that's assuming the dealership makes you put a deposit to hold a VIN). If you do put a deposit, make sure you have a back out contract (if car not there in x days, your deposit back) and you have a VIN. Way too many assholes trying to bait and switch.

 

[romanLegion9574]

Definitely collect as much info as you can, but I’d rather have a car driven spiritedly with break in oil change and regular service then one that’s had 13k put on it without an oil change.

I heard someone on here mention it, but the people that track their cars actually tend to care more about maintenance then your average person.

Same here, I'd prefer one with regular maintenance.

Track days are expensive, so I'd figure people who track their cars maintain them for the amount of stress a track day applies on a car, so making sure the fluids are fresh, the pads aren't worn, and so on, is even more important. Not to mention most insurance doesn't cover track days.

I'm more worried about people who buy cars for recognition and go through many in a short period of time -- that's when I think lack of maintenance and bad driving habits really negatively impact the car.

 

[mmspider]

I'm more worried about people who buy cars for recognition and go through many in a short period of time -- that's when I think lack of maintenance and bad driving habits really negatively impact the car.

I would say over half of ALL performance cars are under maintained (to some degree) and driven aggressively.

 

[romanLegion9574]

I would say over half of ALL performance cars are under maintained (to some degree) and driven aggressively.

Driven aggressively, I'd say the vast majority of performance cars are at some point driven like they've been stolen.

I'd say there's a correlation between maintenance (note this doesn't mean reliability) and market value of the car.

As for under-maintained, I'd say the worst example I've seen is the infamous "ghetto Gallardo" that pops up here in Seattle. Some kid had enough money to buy a used one, but drives it with no rear bumper and a damaged suspension (think noticeable wheel wobble at any speed) because he couldn't pay for repairs after crashing it street racing or something else that was dangerous and stupid.

 

[Grady60]

Longo. 6 months wait.

I’m buying my GR86 from them, and they will deliver it for free. Put my deposit down in September. They told me end of the month,

 

[Mason]

Driven aggressively, I'd say the vast majority of performance cars are at some point driven like they've been stolen.

I'd say there's a correlation between maintenance (note this doesn't mean reliability) and market value of the car.

As for under-maintained, I'd say the worst example I've seen is the infamous "ghetto Gallardo" that pops up here in Seattle. Some kid had enough money to buy a used one, but drives it with no rear bumper and a damaged suspension (think noticeable wheel wobble at any speed) because he couldn't pay for repairs after crashing it street racing or something else that was dangerous and stupid.

I looked at buying a Gallardo briefly. 90k and needed a new clutch. Come to find out that the clutch is 40k installed. I get not being able to pay for major super car problems.

I’ve « seen » a lot of street races and never even heard of one that left a bad driver busting off his rear bumper. More likely for it to be from a different driver. I don’t feel bad for the kid, but I sympathize

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