Always remember, cars cost twice or more everywhere else in the world.
Plus, the US seems to get only the higher end motors, unless it has changed in the last couple of years and you can order every model with the little 0.9-1.5L turbos and NA 1.4-1.6L's etc .
For example, Mazda's 3 only comes with the 2L 155hp engine. In Israel that is a rather rare variant due to price, most come with the 1.5L engine. Would you take that (with 2/3 the hp) for 2-3K less?
* All of those special lease deals "$199/mo!" assume rather large down payments. If you look at the total cost of ownership for leasing, it's not much different than buying.
Always remember, cars cost twice or more everywhere else in the world.
Plus, the US seems to get only the higher end motors, unless it has changed in the last couple of years and you can order every model with the little 0.9-1.5L turbos and NA 1.4-1.6L's etc .
For example, Mazda's 3 only comes with the 2L 155hp engine. In Israel that is a rather rare variant due to price, most come with the 1.5L engine. Would you take that (with 2/3 the hp) for 2-3K less?
SUV prices have gone through the roof, and people are still buying them.
I have a 2004 Suburban. Bought it used in December 2004, with 26k on it. Sticker was about 43-ish. I think I paid 31 for it.
Right now, I can't even buy a 2012 Suburban, with 50k on it for what I paid for mine.
Looked at a new Yukon XL the other day...sticker was $88. Say WHAT?
So they have basically almost doubled in price in less than 10 years.
That's ridiculous.
Millennial car buyers opt to lease their vehicles at a higher rate than the overall car buying population, according to a new analysis from car-buying platform Edmunds.com. The finding suggests that millennials are more willing than older adults to sacrifice the long-term financial benefits of car ownership to get into bigger or more luxurious vehicles that are typically more affordable through leasing.
I'm sorry for your loss.In 1985 I purchased a new Pontiac Sunbird sedan.
Wow, I didn't even realize Hyundai was selling cars in the US in the 80s.30 years ago Hyundai XL's were around 8 or 9 grand. They were incredibly cheaply made. The quality of a mid 80's American car was MUCH better than the XL of the same time period. And that's saying something. Today you can get a low end Hyundai for $14k ish with better features and much better quality/reliability.
I thought this was interesting in relation to this discussion:
http://www.edmunds.com/about/press/millennials-more-likely-to-lease-vehicles-than-older-americans-reports-edmundscom.html
Or you can choose a more practical car and still lease to save money. Why pay more every month just to "own" the vehicle?
Because when you own it, you still have the car when the payments are done? If you're buying new every 3 years, then yeah I could see that.
My strategy has been to buy expensive 3 year old cars. That way most of the depreciacion is gone, it still has some warranty on the powertrain, and it has a fairly modern interior. I'll keep it 3-5 years and then trade up. Seems to work well.
My wife started with a Caravan, then a Grand Caravan, then an Envoy XL, then a GMC Terrain. Think we're going for an Infinity QX60 next
Winner Winner Chicken Dinner, though I appreciate Jlee's taste a bit better (GX is awesome, Forester XT, Mr2, CTS-V, the man likes cool shit .....)
My woman's car is dead, Im hoping to find a decent RX in the 15K price range, seems like 2007-2008 model year, but I looked for GX/Land Cruisers too, would just need to go back to like 2003ish model year ...
You should be able to find an 05-06-ish GX470 in that range if mileage doesn't scare you. I would aim for 2005+ (more ponies vs 03-04). There was a nav refresh in '07, but that's likely pushing out of your price range.
A very nicely built '06 with ~130k just went up for sale on ih8mud for $17k...I was tempted, because he's got many thousands into suspension, roofrack/tent/awning, storage system, bumper, winch, dual batteries, etc....sigh!!
Because when you own it, you still have the car when the payments are done? If you're buying new every 3 years, then yeah I could see that.
Mileage doesn't scare me, but years of wear and tear do, especially here in IL where cars are bathed in salt for 4 or 5 months of the year. I want something I can get for the woman to drive to the store twice a week and then for us to ride in together a couple times a year when we drive 1000 miles to visit friends out of town ... Also something she can use as a DD if she finds a job ...
The GX apears to be pretty close to immortal, but, the years kinda scare me. I know if it is maintained, then it should be solid, and might just need tune up, oil, brakes, tires, etc ... but I worry about electrical things having trouble and various random breakdowns happen, which is more likely on an older vehicle than a newwer one ....
This is simply unfathomable to me.I would never do that. I would have had a new car a couple of years before that.
I don't plan to never have a car payment. It is just another monthly bill.
IMO- yes, new cars are no longer affordable. Automakers know this, and this is why they now offer ridiculous 72 and 84 month loans.