Having Second Thoughts
02-10-2009, 07:46 PM
#26
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Buy a used car. Don't take the 7k hit as soon as you drive it off the lot.
What's with buying new to keep Mazda in business? Screw that, I'm not their business plan. Capitalism means they get to figure it out. Not on my dime.
My 5 year warranty just expired last month, and I'm 2 months away from making my last payment. I've been playing $1000/mo. recently to pay off the 5 year loan in 3.5 years. Financed 21k for a car with 3k miles, didn't even have its first oil change yet.
Car payments suck, it's a money sink. Invest in retirement (stocks) OR continue to make "imaginary" payments into a car savings account. That way you earn 3-4% interest on your money when you don't even have the car, and when you do buy another car, you can pay cash. saves 3% (savings) + 5% (loan) = 8% saved on $27k, even more compounded over 5 or 6 years.
Wonder why our economy is in the hole after a huge rally in the 2000's? People buying **** they can't afford on credit. Does wonders for the economy, until the debt collector comes to get his money. Compound interest is the most powerful force on earth and screws over the common man more than you realize. Muslims are on to something with sharia law forbidding interest, unlike the Jews next door in Israel. Look up the history, it's fascinating. My Muslim friend bought his 3 with cash. Saved him $3-4k in interest which he used to do upgrades. "Free" upgrades.
Anyways, totally off topic. But don't carry a balance on your Credit Card either, unless you like pissing away money. Everyone wants to appear wealthy by buying stuff, when in reality it's making them less wealthy. Oh, the irony.
[/soapbox]
Just remember that $20k in your 20s is worth $320k when you're 60. Yes, it's true. People suck at math, so they remain poor. But hey, not everyone can be rich or we'd have massive inflation, so I guess I'm glad the majority of the population sucks at math.
What's with buying new to keep Mazda in business? Screw that, I'm not their business plan. Capitalism means they get to figure it out. Not on my dime.
My 5 year warranty just expired last month, and I'm 2 months away from making my last payment. I've been playing $1000/mo. recently to pay off the 5 year loan in 3.5 years. Financed 21k for a car with 3k miles, didn't even have its first oil change yet.
Car payments suck, it's a money sink. Invest in retirement (stocks) OR continue to make "imaginary" payments into a car savings account. That way you earn 3-4% interest on your money when you don't even have the car, and when you do buy another car, you can pay cash. saves 3% (savings) + 5% (loan) = 8% saved on $27k, even more compounded over 5 or 6 years.
Wonder why our economy is in the hole after a huge rally in the 2000's? People buying **** they can't afford on credit. Does wonders for the economy, until the debt collector comes to get his money. Compound interest is the most powerful force on earth and screws over the common man more than you realize. Muslims are on to something with sharia law forbidding interest, unlike the Jews next door in Israel. Look up the history, it's fascinating. My Muslim friend bought his 3 with cash. Saved him $3-4k in interest which he used to do upgrades. "Free" upgrades.
Anyways, totally off topic. But don't carry a balance on your Credit Card either, unless you like pissing away money. Everyone wants to appear wealthy by buying stuff, when in reality it's making them less wealthy. Oh, the irony.
[/soapbox]
Just remember that $20k in your 20s is worth $320k when you're 60. Yes, it's true. People suck at math, so they remain poor. But hey, not everyone can be rich or we'd have massive inflation, so I guess I'm glad the majority of the population sucks at math.
)
02-10-2009, 08:16 PM
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But in your original post you said you were going to loan the car.I wasn't arguing if he should take out a loan or not....I just think the money going back to mazda instead of to a dealership with which most of the people that work there are those forclosed home people you are talking about. (I used to work at a dealership) Also if you don't want to buy again for a long time and make it worth while keeping the car. Mazda out of business does affect if you get to repair or maintain your car.
Really putting it all in, wtf did you buy an rx8 then if you are so concerned with your money. Why didn't you just buy a honda civic or something very reliable and dirt cheap instead.
You can view the economy at any angle. It will all be oppinons. I DO however know that it is not loans, it's people not paying them. Also I put the entire economy dump on people not spending money. Thats why the stimulus is such a struggle. People like you view it as SAVE SAVE SAVE, but honestly.
If you work for say... Dell. Ok you decide today you are only going to save because you think the economy is oh no. So you decide no more eating out for dinner anymore. Ok so everyone else agree's. Now resturants you used to pay for go out of business. Guess what those resturants bought Dell Computers, you now don't have a job. F- the save your money B.S. that is the LAST thing our economy needs right now. And for other countries guess what, watch your stock market our economy also affects you.
^Not on your "dyme" I beg to differ.
02-10-2009, 08:29 PM
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Where did the hostility come from anyway?
02-10-2009, 09:09 PM
#29
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Who said I still wasn't going to. It's still the plan to get a loan, just on a used car.
I'm going to ignore that because you don't know dick about my money.
It's a good idea to save money whatever the economic conditions are. I didn't go to school to live paycheck to paycheck because I don't care about saving.
Where did the hostility come from anyway?
I'm going to ignore that because you don't know dick about my money.
It's a good idea to save money whatever the economic conditions are. I didn't go to school to live paycheck to paycheck because I don't care about saving.
Where did the hostility come from anyway?
You know what you need to do to secure your finances...besides, you are buying a frickin car...looks ike you are helping to keep the economic gears greased to me.
02-10-2009, 09:46 PM
#31
Why are you buying an RX8? What do you like most in a car? What could you not care less about in a car? Simple but important questions.
For example, people get caught up in the navigation, leather, sound system and other options only to buy $2000 wheel latter to save 2lbs per wheel so they are faster at the track. Its silly. While others buy a basic sports model and spend thousands adding fancy parts to the car and never go to the track. Buy the car with the features you want. I would buy a R3 because the 09 has improvments to the engine you cant add on and the R3 has the recaro seats. I would buy used because in this market depreciation is really fast which makes a used car a steel and a new car, well very expensive.
Patiance goes a long way when buying a car. I trick I learned is wait as long as you think you can, then wait 2 more weeks. Unless you find a screaming deal, always wait a little longer and look a little more.
Last, if you think you will keep the car for a long time then dont compromise on anything. If you are going to be commuting and putting thousands of miles on the car, then buy cheep now and upgrade latter. The alst thing you want to do is spend all your money on a car and drive it into the ground in a couple of years.
For example, people get caught up in the navigation, leather, sound system and other options only to buy $2000 wheel latter to save 2lbs per wheel so they are faster at the track. Its silly. While others buy a basic sports model and spend thousands adding fancy parts to the car and never go to the track. Buy the car with the features you want. I would buy a R3 because the 09 has improvments to the engine you cant add on and the R3 has the recaro seats. I would buy used because in this market depreciation is really fast which makes a used car a steel and a new car, well very expensive.
Patiance goes a long way when buying a car. I trick I learned is wait as long as you think you can, then wait 2 more weeks. Unless you find a screaming deal, always wait a little longer and look a little more.
Last, if you think you will keep the car for a long time then dont compromise on anything. If you are going to be commuting and putting thousands of miles on the car, then buy cheep now and upgrade latter. The alst thing you want to do is spend all your money on a car and drive it into the ground in a couple of years.
02-10-2009, 09:46 PM
#32
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Get a Nash Metropolitan. Like the RX8, its unique, relatively rare, sort of small, has no equals and only a few people like them.
-1.3L
-1.3L
Last edited by 1.3L; 02-10-2009 at 09:52 PM.
02-11-2009, 08:34 AM
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Buy a used car. Don't take the 7k hit as soon as you drive it off the lot.
What's with buying new to keep Mazda in business? Screw that, I'm not their business plan. Capitalism means they get to figure it out. Not on my dime.
My 5 year warranty just expired last month, and I'm 2 months away from making my last payment. I've been playing $1000/mo. recently to pay off the 5 year loan in 3.5 years. Financed 21k for a car with 3k miles, didn't even have its first oil change yet.
Car payments suck, it's a money sink. Invest in retirement (stocks) OR continue to make "imaginary" payments into a car savings account. That way you earn 3-4% interest on your money when you don't even have the car, and when you do buy another car, you can pay cash. saves 3% (savings) + 5% (loan) = 8% saved on $27k, even more compounded over 5 or 6 years.
Wonder why our economy is in the hole after a huge rally in the 2000's? People buying **** they can't afford on credit. Does wonders for the economy, until the debt collector comes to get his money. Compound interest is the most powerful force on earth and screws over the common man more than you realize. Muslims are on to something with sharia law forbidding interest (called usury), unlike the Jews next door in Israel. Look up the history, it's fascinating. My Muslim friend bought his 3 with cash. Saved him $3-4k in interest which he used to do upgrades. "Free" upgrades.
Anyways, totally off topic. But don't carry a balance on your Credit Card either, unless you like pissing away money. Everyone wants to appear wealthy by buying stuff, when in reality it's making them less wealthy. Oh, the irony.
[/soapbox]
Just remember that $20k in your 20s is worth $320k when you're 60. Yes, it's true. People suck at math, so they remain poor. But hey, not everyone can be rich or we'd have massive inflation, so I guess I'm glad the majority of the population sucks at math.
What's with buying new to keep Mazda in business? Screw that, I'm not their business plan. Capitalism means they get to figure it out. Not on my dime.
My 5 year warranty just expired last month, and I'm 2 months away from making my last payment. I've been playing $1000/mo. recently to pay off the 5 year loan in 3.5 years. Financed 21k for a car with 3k miles, didn't even have its first oil change yet.
Car payments suck, it's a money sink. Invest in retirement (stocks) OR continue to make "imaginary" payments into a car savings account. That way you earn 3-4% interest on your money when you don't even have the car, and when you do buy another car, you can pay cash. saves 3% (savings) + 5% (loan) = 8% saved on $27k, even more compounded over 5 or 6 years.
Wonder why our economy is in the hole after a huge rally in the 2000's? People buying **** they can't afford on credit. Does wonders for the economy, until the debt collector comes to get his money. Compound interest is the most powerful force on earth and screws over the common man more than you realize. Muslims are on to something with sharia law forbidding interest (called usury), unlike the Jews next door in Israel. Look up the history, it's fascinating. My Muslim friend bought his 3 with cash. Saved him $3-4k in interest which he used to do upgrades. "Free" upgrades.
Anyways, totally off topic. But don't carry a balance on your Credit Card either, unless you like pissing away money. Everyone wants to appear wealthy by buying stuff, when in reality it's making them less wealthy. Oh, the irony.
[/soapbox]
Just remember that $20k in your 20s is worth $320k when you're 60. Yes, it's true. People suck at math, so they remain poor. But hey, not everyone can be rich or we'd have massive inflation, so I guess I'm glad the majority of the population sucks at math.
02-11-2009, 09:04 AM
#34
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Just for perspective, and my $0.02........
My wife and I have had a long string of whatever we wanted <$40k brand new cars, refused to accept a car where someone else had put a scratch on it. Falling Economy, Falling Job, too many high payments and I just bought my first $13k car since I was a teenager (which was quite a while ago). I won't go into details of the past or even current as the folks in this thread would probably crucify me but suffice to say we have reversed some mistakes we made
.
You know what, I'm the happiest in my "new" car that I've been in years A week of detailing has it looking perfect enough that from 5' most would swear it's brand new. It's got warranty left for years, only 32k miles, and it's virtually perfect.
My point is we have turned a corner, I had a target of <$15k and found a great car for less than that. If we were still in our more stable times I would have gotten one of the $21k '01 911's I was pondering. Never again will we go first to the new car dealer when there are so many good options at around half the price of what we had come to accept.
.....I know you are pondering a much newer car than what I got but obviously my vote is for the pre-owned one, and dealers are HARD up willing to deal at the moment!
Good luck
My wife and I have had a long string of whatever we wanted <$40k brand new cars, refused to accept a car where someone else had put a scratch on it. Falling Economy, Falling Job, too many high payments and I just bought my first $13k car since I was a teenager (which was quite a while ago). I won't go into details of the past or even current as the folks in this thread would probably crucify me but suffice to say we have reversed some mistakes we made
.You know what, I'm the happiest in my "new" car that I've been in years A week of detailing has it looking perfect enough that from 5' most would swear it's brand new. It's got warranty left for years, only 32k miles, and it's virtually perfect.
My point is we have turned a corner, I had a target of <$15k and found a great car for less than that. If we were still in our more stable times I would have gotten one of the $21k '01 911's I was pondering. Never again will we go first to the new car dealer when there are so many good options at around half the price of what we had come to accept.
.....I know you are pondering a much newer car than what I got but obviously my vote is for the pre-owned one, and dealers are HARD up willing to deal at the moment!
Good luck
02-11-2009, 09:20 AM
#35
3.2 Liter Inline Sex
It's really easy to set up an amortization schedule in excel for your existing loans...play around with different payment schemes and additional principal amounts over the term of the loan...you would be surprised how much money you can save.
Come up with a plan and be self-disciplined enough to pay EXTRA on the principal every single month as if the extra amount was an absolute requirement. If the crap hits the fan then you can back off to your actual payment amount until the smoke clears...then get back to the higher payment again.
Most vehicles are so short term it is not too big an issue...depreciation is your biggest enemy in this area...but a 20yr or 30yr mortgage will eat your lunch..screw it, exercise some discipline and pay it in 10yrs instead.
Last edited by Kevo; 02-11-2009 at 09:23 AM.
02-11-2009, 11:39 AM
#36
Grand Chancellor
02-11-2009, 12:33 PM
#37
No! No! No! The economy is stimulated when people spend spend spend! Otherwise how can the sales guy gets paid to spend it on a new LCD tv so that the LCD diode factory worker gets paid to spend on pirated Blu-Ray discs who in turn helps pay for the pirate to invest in cheap Blu-Ray burners that will fuel the electronic mfg. See it doesn't end! So Spend Spend Spend!
This economic down turn wont be fixed by people going out and buying cars and maxing out credit cards at the mall. It is a goverment problem. We dont charge to import but every other country charges on import. Needless to say, we use too many foreign products. Americans can only blame themselves, they dont want to work blue collar and farm labor jobs anymore. So instead we pay someone else to do it and the money goes into a foreign economy.
My idea of a solution is to charge more to import goods and take the money to subsidize american companies to make the same products on american soil with american workers.
Thats my 2 cents on the economy.
As far as the car goes. Buy lightly used.
02-11-2009, 12:53 PM
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I wasn't being hostile. You partially miss read, wasn't directed at you P.M. sent.
I'm all about saving, just not at a rate that you no longer spend just because of the economy. All I was saying.
Also if what everyone says that new mazda's have great interest rates (all you bank people have noticed I'm sure) Used care interest rates are very high right now. How much of that 7k will go back into the interest?
I also agree on paying way over the "minimum payment". I have great credit and do very very well with my money.
Talk about hostility my lord, you asked for opinions I gave you mine. If you already know don't ask.
I also see Highway 8's view, but if we don't like japan what are we doing in japanese cars trying to put "jdm" parts on left and right? Wait a year new Camaro is coming out *shrugs*
I'm all about saving, just not at a rate that you no longer spend just because of the economy. All I was saying.
Also if what everyone says that new mazda's have great interest rates (all you bank people have noticed I'm sure) Used care interest rates are very high right now. How much of that 7k will go back into the interest?
I also agree on paying way over the "minimum payment". I have great credit and do very very well with my money.
Talk about hostility my lord, you asked for opinions I gave you mine. If you already know don't ask.
I also see Highway 8's view, but if we don't like japan what are we doing in japanese cars trying to put "jdm" parts on left and right? Wait a year new Camaro is coming out *shrugs*
02-11-2009, 01:25 PM
#39
I wasn't being hostile. You partially miss read, wasn't directed at you P.M. sent.
I'm all about saving, just not at a rate that you no longer spend just because of the economy. All I was saying.
Also if what everyone says that new mazda's have great interest rates (all you bank people have noticed I'm sure) Used care interest rates are very high right now. How much of that 7k will go back into the interest?
I also agree on paying way over the "minimum payment". I have great credit and do very very well with my money.
Talk about hostility my lord, you asked for opinions I gave you mine. If you already know don't ask.
I also see Highway 8's view, but if we don't like japan what are we doing in japanese cars trying to put "jdm" parts on left and right? Wait a year new Camaro is coming out *shrugs*
I'm all about saving, just not at a rate that you no longer spend just because of the economy. All I was saying.
Also if what everyone says that new mazda's have great interest rates (all you bank people have noticed I'm sure) Used care interest rates are very high right now. How much of that 7k will go back into the interest?
I also agree on paying way over the "minimum payment". I have great credit and do very very well with my money.
Talk about hostility my lord, you asked for opinions I gave you mine. If you already know don't ask.
I also see Highway 8's view, but if we don't like japan what are we doing in japanese cars trying to put "jdm" parts on left and right? Wait a year new Camaro is coming out *shrugs*
02-11-2009, 01:36 PM
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Totaly agree. I just really like the brand as even my first car was a mazda 626. (granted made all in america). I just don't think Mazda will survive if we tell everyone not to buy a new one. Also dealership still gets alot of money for selling new or used. Margins are higher on used, but not if you rip them down to cost.
Everyone sorry if my posts are being read as flaming. Usually someone attacks my post and I justify it. I need to work on it if Dubbsluv thought I meant him (as he called me a dick)
Everyone sorry if my posts are being read as flaming. Usually someone attacks my post and I justify it. I need to work on it if Dubbsluv thought I meant him (as he called me a dick)
02-11-2009, 01:52 PM
#42
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I thought the same thing, the dealer told me the previous owner was a middle aged female. But my dad does body work and he's going to come with me to see it. He sees a lot of things that no one else will notice...it's scary sometimes.
02-11-2009, 01:59 PM
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Tough to answer loaded questions. Either way, Dubb has 12k to bank as savings each year so should have good enough credit to get a 0% loan and let his money earn while paying the car off early.
W/e. Get a used, just don't bother asking questions when all you want is confirmation that the decision you made is the right one.
02-11-2009, 04:12 PM
#46
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you guys are making this far more complicated then it needs to be.
Buy the one that makes the most sense to YOU. You obviously ordered the R3 for a reason so it's time to check those reasons again and see if they still make sense.
Grab a piece of paper, on one side write R3, on the other write GT. Jot down the 3 reasons for getting each one and the 3 disadvantages in getting it. (consider cost, value, warranty, length of ownership, financing rates, etc)
This will give you an answer.
Buy the one that makes the most sense to YOU. You obviously ordered the R3 for a reason so it's time to check those reasons again and see if they still make sense.
Grab a piece of paper, on one side write R3, on the other write GT. Jot down the 3 reasons for getting each one and the 3 disadvantages in getting it. (consider cost, value, warranty, length of ownership, financing rates, etc)
This will give you an answer.
02-11-2009, 05:11 PM
#48
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Zero percent loans are not gifts. You can take the loan or get the cash equivalent discounted off the price. No such thing as a free lunch. The real question is how much debt you want or what else might you want to do with your cash and credit, eg, buying a home, etc.
02-11-2009, 05:34 PM
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Being general he could be married already have a house and had the job for years. I'm not flaming or attacking or anything; legit conversation.
The only reason I purchased a car over a house, was denied because I changed to a better job recently.
02-16-2009, 11:00 AM
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Ok, so I've decided to go used, looking for an '07 GT, Black or White, maybe Gray. But anyway, the question now is how does Mazda's policy work for warranties?
I can see three different scenarios:
Purchase from a non-Mazda dealer.
Purchase from a private seller.
Purchase certified pre-owned.
Obviously, Mazda certified would be the best choice, but how does the Warranty work with the other two options. There aren't too many certified choices in my area (1 within 50 miles).
(P.S. I did a quick search, but nothing jumped out at me). Thanks
I can see three different scenarios:
Purchase from a non-Mazda dealer.
Purchase from a private seller.
Purchase certified pre-owned.
Obviously, Mazda certified would be the best choice, but how does the Warranty work with the other two options. There aren't too many certified choices in my area (1 within 50 miles).
(P.S. I did a quick search, but nothing jumped out at me). Thanks