s/o What kind of car(s) do you drive and do you lease, finance or pay cash?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:2018 Cadillac Escalade ESV
2016 BMW X5
2017 Chevrolet Corvette

leased
They cost $45k a year but it's worth it

Is any of this for a business and therefore deductible? Otherwise, holy sh#t. Why?

It does seem absurd. I don't understand how "it's worth it". For the kind of money they're dumping into those vehicles, they could just buy them outright. First off, who in this world needs TWO SUV's? That seems silly.

If I jog around my Vienna neighborhood, about 50% of houses have two SUVs in the driveway / garage. I'm not saying it's a good idea, but it's very common, and will only become more so as US manufacturers stop even offering cars.

If I were to count a minivan as an SUV (I'm not), the number would go even higher!

I don’t think they will stop selling cars even though SUV’s are more profitable. It’s wrecking a lot of people’s finances. Take a look at this article. It shows the sad state of affairs we are in.

https://jalopnik.com/84-month-auto-loans-are-becoming-more-common-because-yo-1825414883

Some manufacturers have already said they will stop making cars and only have SUVs. Ford is stopping all except the mustang.
At this point Chrysler has one car, Dodge has one car, Jerp has none, Ram has none, so your local dealer has 2 cars to choose from, the rest are SUV, Vans, and Trucks.

I’ve never heard of this but I just read up on it and Ford will continue to make the Focus as well as the Mustang.

All I have to say is that this move is very shortsighted and frankly, stupid. Horrible business decision. The only reason they can make such profits on SUV’s is the chicken tax and if that’s ever repealed they’re going to all be bankrupt without cars.

https://en.m.wikipedia.org/wiki/Chicken_tax

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:2018 Cadillac Escalade ESV
2016 BMW X5
2017 Chevrolet Corvette

leased
They cost $45k a year but it's worth it

Is any of this for a business and therefore deductible? Otherwise, holy sh#t. Why?

It does seem absurd. I don't understand how "it's worth it". For the kind of money they're dumping into those vehicles, they could just buy them outright. First off, who in this world needs TWO SUV's? That seems silly.

If I jog around my Vienna neighborhood, about 50% of houses have two SUVs in the driveway / garage. I'm not saying it's a good idea, but it's very common, and will only become more so as US manufacturers stop even offering cars.

If I were to count a minivan as an SUV (I'm not), the number would go even higher!

I don’t think they will stop selling cars even though SUV’s are more profitable. It’s wrecking a lot of people’s finances. Take a look at this article. It shows the sad state of affairs we are in.

https://jalopnik.com/84-month-auto-loans-are-becoming-more-common-because-yo-1825414883

Some manufacturers have already said they will stop making cars and only have SUVs. Ford is stopping all except the mustang.
At this point Chrysler has one car, Dodge has one car, Jerp has none, Ram has none, so your local dealer has 2 cars to choose from, the rest are SUV, Vans, and Trucks.

I’ve never heard of this but I just read up on it and Ford will continue to make the Focus as well as the Mustang.

All I have to say is that this move is very shortsighted and frankly, stupid. Horrible business decision. The only reason they can make such profits on SUV’s is the chicken tax and if that’s ever repealed they’re going to all be bankrupt without cars.

https://en.m.wikipedia.org/wiki/Chicken_tax

I'm sure you know more about the auto market than all the MBA's at ford

[Anonymous]

Anonymous wrote:2015 Chrysler Town & Country, bought used & still owe $26k on it.

2014 Chevy Malibu, bought new & paid off the last $12k through a 401k loan.

This is absolutely insane. As in, orders of magnitude more insane than leasing cars for $45k a year - that guy presumably can afford it.

[Anonymous]

2014 BMW 535
2017 Porsche Cayenne
Both paid cash.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:2018 Cadillac Escalade ESV
2016 BMW X5
2017 Chevrolet Corvette

leased
They cost $45k a year but it's worth it

Is any of this for a business and therefore deductible? Otherwise, holy sh#t. Why?

It does seem absurd. I don't understand how "it's worth it". For the kind of money they're dumping into those vehicles, they could just buy them outright. First off, who in this world needs TWO SUV's? That seems silly.

If I jog around my Vienna neighborhood, about 50% of houses have two SUVs in the driveway / garage. I'm not saying it's a good idea, but it's very common, and will only become more so as US manufacturers stop even offering cars.

If I were to count a minivan as an SUV (I'm not), the number would go even higher!

I don’t think they will stop selling cars even though SUV’s are more profitable. It’s wrecking a lot of people’s finances. Take a look at this article. It shows the sad state of affairs we are in.

https://jalopnik.com/84-month-auto-loans-are-becoming-more-common-because-yo-1825414883

Some manufacturers have already said they will stop making cars and only have SUVs. Ford is stopping all except the mustang.
At this point Chrysler has one car, Dodge has one car, Jerp has none, Ram has none, so your local dealer has 2 cars to choose from, the rest are SUV, Vans, and Trucks.

I’ve never heard of this but I just read up on it and Ford will continue to make the Focus as well as the Mustang.

All I have to say is that this move is very shortsighted and frankly, stupid. Horrible business decision. The only reason they can make such profits on SUV’s is the chicken tax and if that’s ever repealed they’re going to all be bankrupt without cars.

https://en.m.wikipedia.org/wiki/Chicken_tax

I'm sure you know more about the auto market than all the MBA's at ford

You mean those same genius MBA’s that had to be bailed out a few years ago while Toyota continued to make profits selling Camry’s? Yes, yes I do.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:2018 Cadillac Escalade ESV
2016 BMW X5
2017 Chevrolet Corvette

leased
They cost $45k a year but it's worth it

Is any of this for a business and therefore deductible? Otherwise, holy sh#t. Why?

It does seem absurd. I don't understand how "it's worth it". For the kind of money they're dumping into those vehicles, they could just buy them outright. First off, who in this world needs TWO SUV's? That seems silly.

If I jog around my Vienna neighborhood, about 50% of houses have two SUVs in the driveway / garage. I'm not saying it's a good idea, but it's very common, and will only become more so as US manufacturers stop even offering cars.

If I were to count a minivan as an SUV (I'm not), the number would go even higher!

I don’t think they will stop selling cars even though SUV’s are more profitable. It’s wrecking a lot of people’s finances. Take a look at this article. It shows the sad state of affairs we are in.

https://jalopnik.com/84-month-auto-loans-are-becoming-more-common-because-yo-1825414883

Some manufacturers have already said they will stop making cars and only have SUVs. Ford is stopping all except the mustang.
At this point Chrysler has one car, Dodge has one car, Jerp has none, Ram has none, so your local dealer has 2 cars to choose from, the rest are SUV, Vans, and Trucks.

Looks like you’re right, they will only have one car. They were going to build the Focus in China and ship it to America (making it the only car other than the mustang for sale by ford) but Trump’s tariffs and trade war with China has forced them to cancel those plans.

FYI, most of the “SUV’s” sold are actually “CUV’s” (better known as crossovers). True SUV’s have a truck chassis. Crossovers use the chassis of a car (and often the engine as well). For example the Ford Focus chassis is used for the escape while the Tahoe has a truck chassis making it a real SUV. Most crossovers are just station wagons.

[Anonymous]

2015 CPO Lexus bought last year, financed at 2.4%
2018 Honda Accord bought this year, it's DH's and he buys a new car virtually every year, no idea what his interest rate is

Strongly considering trading my Lexus for a CR-V and paying cash via HELOC. The regulars on this board understandably are going to jump all over this idea, but we are on the verge of splitting and I'd rather start off on my own with no car payment and slightly less profit from my share of the sale of our house (it's not a 50/50 situation) vs with a $575 car note.

[Anonymous]

Anonymous wrote:

Anonymous wrote:2015 Chrysler Town & Country, bought used & still owe $26k on it.

2014 Chevy Malibu, bought new & paid off the last $12k through a 401k loan.

This is absolutely insane. As in, orders of magnitude more insane than leasing cars for $45k a year - that guy presumably can afford it.

How so?

1) I'm paying my own retirement fund (and not 100% of my intake goes into stocks. I split it between company stock, regular stock, a self-managed brokerage account laid out in high-yield stocks, and the safe value fund) instead of (random bank here.)
2) Yes, I'm taxed on that money, but I'm also taxed on the money I'm paying to (random bank here.) I've also improved my immediate cash flow.
3) Most assumptions of "ZOMG you'll lose out of all teh gainz from the market" seem to think the stock market only goes up. Well, as 2000-03 (I was 24-27 then) and 2008-11 (corresponds with my oldest kid's being 1-4) showed up it doesn't always happen that way. So a 401k loan as an appropriate part of a balanced portfolio is insane ... how?
4) The real risk is that I'll be screwed if I am (a) laid off and (b) don't find another job in the appropriate timeframe to pay off the loan.
5) But then, the sum is under 5% of my own 401k which is one part of my family's total assets.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:2018 Cadillac Escalade ESV
2016 BMW X5
2017 Chevrolet Corvette

leased
They cost $45k a year but it's worth it

Is any of this for a business and therefore deductible? Otherwise, holy sh#t. Why?

It does seem absurd. I don't understand how "it's worth it". For the kind of money they're dumping into those vehicles, they could just buy them outright. First off, who in this world needs TWO SUV's? That seems silly.

If I jog around my Vienna neighborhood, about 50% of houses have two SUVs in the driveway / garage. I'm not saying it's a good idea, but it's very common, and will only become more so as US manufacturers stop even offering cars.

If I were to count a minivan as an SUV (I'm not), the number would go even higher!

I don’t think they will stop selling cars even though SUV’s are more profitable. It’s wrecking a lot of people’s finances. Take a look at this article. It shows the sad state of affairs we are in.

https://jalopnik.com/84-month-auto-loans-are-becoming-more-common-because-yo-1825414883

Some manufacturers have already said they will stop making cars and only have SUVs. Ford is stopping all except the mustang.
At this point Chrysler has one car, Dodge has one car, Jerp has none, Ram has none, so your local dealer has 2 cars to choose from, the rest are SUV, Vans, and Trucks.

I’ve never heard of this but I just read up on it and Ford will continue to make the Focus as well as the Mustang.

All I have to say is that this move is very shortsighted and frankly, stupid. Horrible business decision. The only reason they can make such profits on SUV’s is the chicken tax and if that’s ever repealed they’re going to all be bankrupt without cars.

https://en.m.wikipedia.org/wiki/Chicken_tax

I'm sure you know more about the auto market than all the MBA's at ford

You mean those same genius MBA’s that had to be bailed out a few years ago while Toyota continued to make profits selling Camry’s? Yes, yes I do.

Only in Trump's America would a random on the internet claim to smarter than the senior management of a multinational corporation

[Anonymous]

Just answering the original question

We have a Toyota Sienna bought used and paid cash and a Subaru Outback bought new and paid cash. In both cases we had a trade in so we were not paying the full amount in cash. Our next car will either be a 2019 Toyota Rav4 or a new Subaru Impreza, it just depends who gets to pick it. We think that buying and paying cash or financing with a low rate is best.

[Anonymous]

all bought new, still own all
- 2004 Jeep Grand Cherokee- cash
- 2009 Toyota Camry- 0% 5 yr loan (would have paid cash, but can't beat 0%)
- 2014 Honda Odyssey- cash

you shouldn't buy an expensive car if you can't afford to do it with cash. big waste of money

[Anonymous]

Anonymous wrote:Bought a used 2014 MB E350 last year. Cash. I stopped buying new ten years ago given how fast a new car's value goes down as soon as it leaves the lot.

But you have an old car

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:2018 Cadillac Escalade ESV
2016 BMW X5
2017 Chevrolet Corvette

leased
They cost $45k a year but it's worth it

Is any of this for a business and therefore deductible? Otherwise, holy sh#t. Why?

It does seem absurd. I don't understand how "it's worth it". For the kind of money they're dumping into those vehicles, they could just buy them outright. First off, who in this world needs TWO SUV's? That seems silly.

I'd like to know how you could get any one of these cars for $45k let alone all three. Thank god we live in a free country where people can buy what they like, not what some government thinks we need

[Anonymous]

Anonymous wrote:We have 3 cars, $200k in total cost, two for commuting and one van for the weekend. Paid cash.

1 car, 1 mini suv, 1 mini-van. own. paid cash or got 0% financing. $100k total cost basis.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:2018 Cadillac Escalade ESV
2016 BMW X5
2017 Chevrolet Corvette

leased
They cost $45k a year but it's worth it

Is any of this for a business and therefore deductible? Otherwise, holy sh#t. Why?

It does seem absurd. I don't understand how "it's worth it". For the kind of money they're dumping into those vehicles, they could just buy them outright. First off, who in this world needs TWO SUV's? That seems silly.

This isn't uncommon at all in wealthy neighborhoods.