How much should you spend for a car?
How much should you spend for a car?
Posted by: Barthélemy Barbancourt
on Mar 05, 2010 
Tagged in: Untagged
There are rules of thumb for housing but I don't know of one for transportation. I'm thinking of getting a new ride so this has been on my mind. Almost every new vehicle has been the most expensive car I had ever purchased at the point in time. and this next one will be the same.
Sometimes I step back and look at the numbers and just think "Wow, that is a lot of money".
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written by kow , March 05, 2010
What is the main function of your car? I look for what I need the car to do. In my case I needed a large vehicle so the Vettes and Vipers were out of the question. That usually narrows it down quite a bit.
I bought last year so not knowing if Government Motors, Ford or Chrysler were going to be around the next day had a lot to do with going import.
It's your car, so screw everybody else who thinks you should buy an eco car or the flashiest ride.
When you look over the price tag on the car you want and think "wow, that's a lot for that car" it probably is. On the other hand, if it's really what you want, why not? It's your car.
written by Barthélemy Barbancourt , March 05, 2010
Comfort and safety are big factors. I have driven a Jeep Grand Cherokee Limited V-8 for the past 12 or 13 years. It's time for a change.
I'm looking at possibly a 5 or 7 series BMW, Audi A6 or A8 or a Mercedes, all used. The issue is just where should I draw the line.
written by tswift , March 05, 2010
I've owned 2 5 series BMW's...both were outstanding cars; until about 150k miles when "consumables" like water and fuel pumps started needing replacement. How's $900.00 to replace a water pump sound?
OUCH!
So then I got smart and bought a VW Passat. Performance was nearly as good, and it should be because it was no cheaper to maintain.
Bought myself a '01 Eldo in '02...I love it, and it loves me.
written by Kermit , March 05, 2010
My wife got a Ford Escape after she got t-boned in the minivan. She wants to sit up higher, because she feels safer that way. Plus my boy is about 6'3" so we need room. He bought himself s Crown Vic Police Interceptor. It's got room, and that's important. You couldn't wedge him (or me) into a friggin Mini Cooper.
written by Nobody , March 05, 2010
You can go used with either BMW or Audi. The trick is to keep them until they won't move. If you do that, the $25K won't feel too bad after 10 years. I personaly drive beater trucks because, well, I'm cheap.
written by Clark Carter , March 07, 2010
I drive older cars. While the first generation of On Board Diagnostics were largely a boon, OBD II got out of control. I don't believe the present generation of "fly-by-wire" (no mechanical connection between the gas pedal & the engine) cars are at all safe unless they come with some sort of kill switch, or at least a direct mechanical shifter (the Toyota Pious has an electronically controlled shifter. The electronics will eventually have a problem. If you're driving it when that happens, you better find something to sideswipe, because otherwise you're just along for the ride & to steer.
My main ride is a 94 Roadmaster wagon I bought when I had kids home & I didn't want a minivan. I kept it because I was not impressed with the overpriced, overengineered cars on the market, so when the tranny went at 115,000 I had it & the motor rebuilt. Cost almost $5 large (the weakest cylinder was 97% so the engine didn't need much more than bearings & new timing chain & gears). Car now has 215,000 - I frequently drive it to South Carolina & Maine. It's fast, comfortable, and gets over 20 MPG on the road (over 23 without ethanol gas, but less than 20 if you drive from Brunswick Maine to Roanoke, Virginia in one day, which it's nice to be able to do).
My advice, find an older, simpler car you like that's solid & doesn't rape you for parts. Bank the money you save, add some every month, and use that pile to rebuild it when it's old & tired. And since we live up north, get a winterbeater - I picked up an old rental Saturn cheap & it runs well, albeit while using some oil, but it's comfortable & since I injured my back in a building collapse I need good seats - I can't even sit in a Toyota, never mind drive one.
written by Clark Carter , March 07, 2010
Roadmaster tranny went at 200,000 miles. Before that the car was trouble free except for one bad electrical connector to the computer, which was a B I C H to find
written by Nobody , March 07, 2010
I too am leary of the fly by wire throttles ect. BUT we've been flying them for years. Air Bus is all electronic controls. I like a mechanical lash up to the gas and steering.
written by Barthélemy Barbancourt , March 07, 2010
Sometimes I am amazed at how everyone has different priorities. Some people are worried about cost per mile, others about technology and some politics. I agree with some of these, couldn't care less about others and have a few unique ones of my own.
I often warn sales people that I just don't give a shit about some of the things other people care about. I test drove the BMW 745 last night and the sales guy just didn't get it. It was a Walser dealership so he told me about the 10 cent discount on gas that you get for a year. (I had bought a Jeep from a Walser before so he assumed that I loved their give-aways.) I politely told him that I didn't really care about a 10 cent discount on gas and advised him that none of that mattered to me. 5 minutes later he asked where I got my free car washes. I told him, a bit more firmly this time, that I had never gotten a free car wash and no intention of every getting one and that I was serious when I said I really didn't give a shit about his freebie program. The guy really didn't get it because he was either incapable of listening or couldn't grasp that my priorities weren't his.
So, here are a few priorities that I have. The car must run perfectly. I can't have something that is even remotely unreliable. I am not concerned about gas mileage. $10K a year or less is a small price to pay for an integral part of my business so depreciation isn't really a factor. It has to ride nice and it has to be faster than at least 95% (preferably 99%) of the cars on the road today. I care more about a sunroof than cost of maintenance. Sirius radio is important, but not a deal breaker.
The car has have an image that I want to project. A Prius is all about image and it is not the image I want to project. I refuse to buy an Obama motors car even though my last 3 purchases have been Chryslers. (They had the best design teams for American cars) I am not even looking at Japanese cars for a variety of reasons. The best I can figure there are only a handful of cars that meet all of my criteria and most of them are built in Germany, but some are built in Italy and England. The products from the latter 2 countries are still outside my price range.
written by Nobody , March 07, 2010
The rule of thumb for housing is 25-35% of net income. As cars are one of the worst investments you can make the best you can hope to do is lose money slowly. The last car I financed was about 15% of my take home at the time.
written by Barthélemy Barbancourt , March 07, 2010
That would kick ass! I was trying to stay around 10%.
I was thinking about shopping in that area but it seemed excessive. But hey, life is short so what the hell.
I found a black E550 with a tan interior with very low miles that just might work and it fits well under that limit.
written by Nobody , March 08, 2010
Have you hammered around the 'net? I would want to see the cars, but there are a ton of sites that sell cars. The "E" MB's were named as "Economy", ie a starter Benz. Be careful.
written by JW of Minnesota , March 08, 2010
Yes, the internet might be a good option. Too bad about your BMW experience at Walser. I don't know why BMW allows Walser to sell their new cars. Back in the day, I toured the old Motorwerks dealership. Very professional, only the best salespeople who knew what their customers wanted. The direction from BMW was very clear as to how to run the place, including the color of tiles and exact layout of the showfloor.
Shit, for a BMW 7-series, methink the customer is looking for something different than free mini-van carwashes.
written by Barthélemy Barbancourt , March 08, 2010
I hand the guy my DL, or not even that at Sears since they know me, and the sales guy hands me the keys and says have fun. They discuss things that I care about like the extended warranty that goes with a certified used vehicle and what it takes to be a certified used Benz. Things like they already pulled the CarFax and if it had an accident, it isn't certified.
Yeah, the car washes weren't really helping the sale.
written by Nobody , March 08, 2010
No sale without a Car Fax. The only time I buy a warranty is with a used car. They are usualy for only the big stuff (eng/trany) but worth it. Hey Bart, try a Jag.
written by bikebubba , March 08, 2010
What about a bicycle, Duce? (runs for cover)
I'm with the "drive it until the wheels fall off" crowd. I've got a 2000 Chevy Venture with 203K & few major repairs, as well as a 1997 GMC Sierra with 131k and not too many repairs, either.
Schwinns and Treks are good, too, especially with Michelins.
written by Kermit , March 08, 2010
Hah. I'm in a 95 Dakota. It has the best feature of all. It's paid for.
written by Nobody , March 08, 2010
Shoot Kermie, mine's a 91. I had a Honda with just short of 500K miles until my daughter wreaked it. If Bart goes with a Benz 500K won't crack a sweat.
written by Barthélemy Barbancourt , March 08, 2010
They can't be as unreliable as they used to be.
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