Advice - Buying a used car

[ericlambi]

Would it happen to be one of those elite investment management companies that needed some of the $700 billion bailout money???

You are confusing investment bank with investment management company. Investment bank = Goldman Sachs. Investment management company = Fidelity.

There has not been any investment management companies that have received bailout money, nor will there be.

 

[clones_jer]

Glock foay-tay

Just because I want to contribute to this battle of wits:

I believe Phaed is talking fancy for a glock 40 caliber (a handgun).

Full disclosure: I have never owned a handgun, or been a handgun dealer, nor did I graduate top of my handgun class, and I definately do not work for a elite handgun company analyzing and making important decisions about handguns everyday.

 

[thisISnextyear]

So the truth FINALLY comes out. Bring a handgun to the dealership tomorrow morning in order to get the best deal

 

[BugDoc]

This is one of the better peeing contests that I have seen on here in a while... Please continue :biggrin:

 

[ericlambi]

So the truth FINALLY comes out. Bring a handgun to the dealership tomorrow morning in order to get the best deal

Now we're getting somewhere. Something tells me you could get a big discount off the sticker with a handgun. I wonder if there are any gunshows in my area tomorrow? I don't have a handgun, so I'll need to get one fast.

 

[jbhtexas]

You are confusing investment bank with investment management company. Investment bank = Goldman Sachs. Investment management company = Fidelity.

There has not been any investment management companies that have received bailout money, nor will there be.

My mistake. Hopefully the investment banks will learn from this, and will only hire MBAs from the world's best and most rigorous MBA program from now on...

 

[ericlambi]

My mistake. Hopefully the investment banks will learn from this, and will only hire MBAs from the world's best and most rigorous MBA program from now on...

Unfortunately, I think there were plenty of us running around at those banks. The problem, of course, was that they had strong incentives to do what they did.

Edit: we really have gotten off track here.

 

[jbhtexas]

Edit: we really have gotten off track here.

Yeah, but it is Friday night, and this is more fun than the pile of paperwork I need to sort through...

 

[ericlambi]

Yeah, but it is Friday night, and this is more fun than the pile of paperwork I need to sort through...

I should have known better than to make my claims on leasing being cheaper than buying with Phaedrus involved in this thread. The chaos was predictable.

 

[clones_jer]

I should have known better than to make my claims on leasing being cheaper than buying with Phaedrus involved in this thread. The chaos was predictable.

You've already been arrogant enough, no need to continue being a ****

 

[Phaedrus]

You've already been arrogant enough, no need to continue being a ****

Whoa, whoa, whoa! Being a **** is MY job:yes:!

The "glock foah-tay" comment is an internet meme, having to do with people who claim special, exclusive knowledge in order to win an argument, and refers to the following YouTube video

[ame="http://www.youtube.com/watch?v=am-Qdx6vky0"]YouTube - Cop Shoots himself in the leg[/ame]

Serious question for ericlambi, before this thread gets locked:

How much does the lease actually net you, comparatively, in dollars?

And if you had a $3000 - $7000 similar vehicle, what would the difference be, in real dollars? (Knowing that you can just about get a late-model used SUV for free, right now)

I am going to guess that the phrase "pole-vaulting over mouse-turds" applies to this special financial technique you speak of.

 

[thisISnextyear]

So today's the day. I've got 2(maybe3) vehicles picked out and I'm starting with the most exspensive. I'm bringing 2/3 of what I'm willing to spend and I will see where we end up. After all the CF help, 2 visits with each and 2 voice mails from the #1 choice "encouraging" me to do something by the end of the month, I think I'm primed and ready to go!!!
Thanks everyone

 

[ericlambi]

Serious question for ericlambi, before this thread gets locked:

How much does the lease actually net you, comparatively, in dollars?

And if you had a $3000 - $7000 similar vehicle, what would the difference be, in real dollars? (Knowing that you can just about get a late-model used SUV for free, right now)

I am going to guess that the phrase "pole-vaulting over mouse-turds" applies to this special financial technique you speak of.

Well, I already approximated the lease vs outright buy ealier in this thread. I guessed that they would both cost ~$13k in current dollars over a three year period, with the lease looking slightly cheap to the buy.

Buying a $7k used vehicle isn't a proper basis for comparison. I don't have any interest in buying a vehicle like that. Unless you run into massive repair bills, it will be cheaper. Cheaper, however, doesn't equal better.

 

[ericlambi]

So today's the day. I've got 2(maybe3) vehicles picked out and I'm starting with the most exspensive. I'm bringing 2/3 of what I'm willing to spend and I will see where we end up. After all the CF help, 2 visits with each and 2 voice mails from the #1 choice "encouraging" me to do something by the end of the month, I think I'm primed and ready to go!!!
Thanks everyone

Good luck, let us know how it goes.

 

[CycloneErik]

Whoa, whoa, whoa! Being a **** is MY job:yes:!

The "glock foah-tay" comment is an internet meme, having to do with people who claim special, exclusive knowledge in order to win an argument, and refers to the following YouTube video

YouTube - Cop Shoots himself in the leg

Serious question for ericlambi, before this thread gets locked:

How much does the lease actually net you, comparatively, in dollars?

And if you had a $3000 - $7000 similar vehicle, what would the difference be, in real dollars? (Knowing that you can just about get a late-model used SUV for free, right now)

I am going to guess that the phrase "pole-vaulting over mouse-turds" applies to this special financial technique you speak of.

The only one professional enough, eh?

That guy will have their respect forever! Ouch. What a loser.

 

[iowa_wildcat]

If roll overs are your concern with a SUV, you should check out the Subaru Forester. The pancake 4 horizontally opposed engine gives them a much lower center of gravity than other SUVs.

 

[thisISnextyear]

An update to the car search... Was headed in today to "seal the deal" with a decent amount of CASH and got a call from the salesman before I made it in. I ASSUMED that the repeated attempts to reach me was a sign that I was really in control. Wrong.
We negotiated a bit on the phone, and I told him my EXACT number (which I didn't think would fly) but the truck had WAY more than we started out looking for so I only wanted it if we could get it for that price. No games, no BS, I had enough cash to buy a decent vehicle and I was only going to get financing for THAT truck. Well they told me that they just couldn't do this truck for that but they could see about my number on one that was 2yrs older and I should come down and take a look. Went down and while I was in there, the original truck had just been sold. I contemplated for about 30 minutes and left with no vehicle.
All in all, I used quite a bit of advice from "Fanatics" but in the end, I avoided making and emotional decision and I'm going to sit tight.

 

[CycloneErik]

An update to the car search... Was headed in today to "seal the deal" with a decent amount of CASH and got a call from the salesman before I made it in. I ASSUMED that the repeated attempts to reach me was a sign that I was really in control. Wrong.
We negotiated a bit on the phone, and I told him my EXACT number (which I didn't think would fly) but the truck had WAY more than we started out looking for so I only wanted it if we could get it for that price. No games, no BS, I had enough cash to buy a decent vehicle and I was only going to get financing for THAT truck. Well they told me that they just couldn't do this truck for that but they could see about my number on one that was 2yrs older and I should come down and take a look. Went down and while I was in there, the original truck had just been sold. I contemplated for about 30 minutes and left with no vehicle.
All in all, I used quite a bit of advice from "Fanatics" but in the end, I avoided making and emotional decision and I'm going to sit tight.

Nice restraint. Good job on this one.

 

[Phaedrus]

An update to the car search... Was headed in today to "seal the deal" with a decent amount of CASH and got a call from the salesman before I made it in. I ASSUMED that the repeated attempts to reach me was a sign that I was really in control. Wrong.
We negotiated a bit on the phone, and I told him my EXACT number (which I didn't think would fly) but the truck had WAY more than we started out looking for so I only wanted it if we could get it for that price. No games, no BS, I had enough cash to buy a decent vehicle and I was only going to get financing for THAT truck. Well they told me that they just couldn't do this truck for that but they could see about my number on one that was 2yrs older and I should come down and take a look. Went down and while I was in there, the original truck had just been sold. I contemplated for about 30 minutes and left with no vehicle.
All in all, I used quite a bit of advice from "Fanatics" but in the end, I avoided making and emotional decision and I'm going to sit tight.

That's why you need the cash in hand, before you say yes.

Just more salesman b.s.. You were not really prepared to walk away, as exhibited by your statement that you went down to look at the 2 year older vehicle. Walk away means walk away; not to allow yourself to be switched to some other car.

 

[thisISnextyear]

That's why you need the cash in hand, before you say yes.

Just more salesman b.s.. You were not really prepared to walk away, as exhibited by your statement that you went down to look at the 2 year older vehicle. Walk away means walk away; not to allow yourself to be switched to some other car.

In hindsight, you are right. I heard no 3 times on the car we wanted and still had hopes that I would hear a yes on THAT one when they asked us to come look at another one. I did have cash in hand (and even showed the over 12K cash at one point while we were there) but it wasn't to be. As they scrambled to close the end of the month with 2 and then 3 other vehicles, I'm happy to say that I said that anything other than "the one that got away" was going to be a let-down.
I'm ok with starting over and take this as a lesson learned. I also know that I'm not going back there since they now have my number and every attempt will be made to make me spend that number:smile: