Author Topic: It's happening again (new car thoughts)  (Read 2415 times)

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jfrahm

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It's happening again (new car thoughts)
« on: June 06, 2005, 04:04:03 PM »
Well in this case, getting rid of the new car in favor of a cheaper used car.
 
I like my Passat and it's generally a great all-around car, but it does not get much use in the spring/summer/fall (I have other cars that are more fun but bad in the snow.)  I often think about buying something like a decent Quattro wagon for $5-$8K and selling the Passat, that way I would not be paying $400 a month in payments and full insurance coverage, expensive ownership taxes, etc.

I do like the warranty and the fact that everything on my car is new (no rattles, squeaks, leaks, etc.) but I'm not sure how much that is all worth.  I guess when it's January and I want the car to just work and the seats to get hot it's worth the monthly payment, etc. easily but in June when it's top-down season the Passat sits a lot, and that bugs me a little.  When I use the car 6 days a week it's clearly worth the money, but twice a week it's not.

I'm an excellent mechanic and generally have had older, great-running self maintained used cars but I do admit the peace of mind of a warranty and all new parts is appealing for long trips.  In the past I often rented cars for long trips but I lived closer to the rental car place then, and it was a bit cheaper a few years ago.

I suppose I should work out the daily cost of the car and the daily average use and try to see, at least on paper, what I am spending and what I am getting.  At 9 months of ownership I might have 7k miles on it.  the intagibles will be harder to put a value on but that can be taken into consideration.

Any thoughts?

Thanks,
-Joel.
2001 Audi A8 Quattro 4.2l

03Indigo

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It's happening again (new car thoughts)
« Reply #1 on: June 06, 2005, 05:00:16 PM »
I guess it depends on how much you have left on the car....and if you are upside down in payments, then, NO, it is not worth it...it will end up costing you more.  What year is the Passat?  is it 4 motion?

what are you other rides, and would any of them be suitable for winter use with a good set of winter tires, etc.?


I have 2 totally different cars for each season, and it does not bother me to have payments on one while it sits...cuz I know it is there when I need it...plus, my winter car is as much fun to drive as my summer car :)

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It's happening again (new car thoughts)
« Reply #1 on: June 06, 2005, 05:00:16 PM »

BHase

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It's happening again (new car thoughts)
« Reply #2 on: June 06, 2005, 05:24:07 PM »
I'm a student, and I have one car, which I've had for five years. Agreed with Indigo: All depends on the situation.  I agree also that when money is an issue, but you do have enough to buy a reasonably priced car, it is good to get one that is fun in the summer and winter.

Ben
I'm not an expert in any field but drinking beer and breaking stuff so don't take my response as the best foundation for a conversation." - Jay

jfrahm

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It's happening again (new car thoughts)
« Reply #3 on: June 06, 2005, 06:13:08 PM »
My other cars are a Porsche 928S4 that has exotic car insurance on it (5k miles per year allowed) and a 944S2 Cabriolet.  It's not realistic to use them in snow.  I can get to work via bus or bicycle but life is much better with a good AWD car so I can go out to Denver or the mountains in questionable weather.  I enjoyed having the car last winter and drove home in the snow many times.

The money is not a problem, but money is a resource to be managed wisely.  It could be that it would be smarter to eliminate the payment and put the money into my house or other investments.

I'm not upside-down on the Passat (2004 4motion 5 speed with winter package and ESP.) I owe maybe $19K on it, kelly blue book private party value is $24K (seems high?)  I suppose I could get $20K for it at least.

The nice things about the Passat are the ESP, lots of air bags, warranty, and the fact that everything is new.  If I buy an older A6 Quattro wagon or the like I lose some saftey and reliability, some performance, peace of mind and some 'niceness.'  However if I got the car cheaply enough, I would save a good bit on insurance as I'd only get liability.  Taxes are expensive on new cars too (although deductable so that is mitigated.)  Depreciation is less of a factor on older cars.  Repairs are hard to plan for as you do not really know what might break, but much of that is just time and trouble for me as I do my own work.

I did some math over lunch and figure I can own an older car for about $2500-$3000 a year less than the Passat, or thereabouts.  $200-250 a month savings.   Four months out of the year I think that money is well spent.  I'm not sure about the other eight.  If it were $100 a month it'd be a no-brainer, the warranty and saftey features are worth that easily.  

It is nice having one car that I do not have to wrench on but $200-$250 a month is a lot of money when you take the long view.

Bears some consideration.  A lot depends on finding the right used car I suppose.

-Joel.
2001 Audi A8 Quattro 4.2l

BHase

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It's happening again (new car thoughts)
« Reply #4 on: June 06, 2005, 06:15:33 PM »
Not to pull a threadjack here, but how does the insurance make sure that you only put 5000 miles per year on the 928-S4?  I just wanted to know for future reference.

Ben
I'm not an expert in any field but drinking beer and breaking stuff so don't take my response as the best foundation for a conversation." - Jay

jayryan

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« Reply #5 on: June 06, 2005, 06:26:05 PM »
My wife and I were considering the same thing on the Jetta to save some more money each month, but in the long term, we're alot more comfortable with a car we don't have to wrench on and the warranty factor involved.
I've fought the new car itch a few times now. My problem is that I don't want to get rid of my Passat which does nothing for us in the long term and my wife doesn't want to lose her Jetta so...I get over the itch :P
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Colorado_Baja

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It's happening again (new car thoughts)
« Reply #6 on: June 06, 2005, 06:29:09 PM »
Quote from: "BHase"
Not to pull a threadjack here, but how does the insurance make sure that you only put 5000 miles per year on the 928-S4?  I just wanted to know for future reference.

Ben


I would guess that if you piled it into something and it had to be claimed and you had 20,000 miles in the past twelve months instead of like 5000 they may  deny your claim?? im just guessing here but it makes sense..

Greg
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Losers make excuses. Winners make it happen.

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BHase

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It's happening again (new car thoughts)
« Reply #7 on: June 06, 2005, 06:30:40 PM »
Quote from: "blueGOLFturbo"
Quote from: "BHase"
Not to pull a threadjack here, but how does the insurance make sure that you only put 5000 miles per year on the 928-S4?  I just wanted to know for future reference.

Ben


I would guess that if you piled it into something and it had to be claimed and you had 20,000 miles in the past twelve months instead of like 5000 they may  deny your claim?? im just guessing here but it makes sense..

Greg


Yeah I had had the same thought.  

Ben
I'm not an expert in any field but drinking beer and breaking stuff so don't take my response as the best foundation for a conversation." - Jay

jfrahm

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It's happening again (new car thoughts)
« Reply #8 on: June 06, 2005, 06:31:05 PM »
Dunno, they have not called me to check on my progress.  I suppose if you get in a wreck and you are over your mileage they get testy.  They have other requirements, the car must be generally stored in a locked garage and can only be used for pleasure driving (not to-from or for work) and club meets, etc.  No track days or driving schools.

It's nice, you can get an agreed value policy with roadside assistance and $100 deductable for $350 a year or so.  5k miles a year is about right for me on that car anyway.  If I had a regular policy and the car was totaled, it would be difficult to get a normal insurance company to pay me what it is worth (at least that seems to be the norm from the experiences of others.)  They also thow in roadside assistance, probably figuring more damage or theft might result from the car sitting on the side of the road somewhere for a few hours.

It was not easy to get them to take that particular car, they really prefer the garage queens.  928's tend to get used and driven.  

-Joel.
2001 Audi A8 Quattro 4.2l

92UrS4

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It's happening again (new car thoughts)
« Reply #9 on: June 06, 2005, 06:43:32 PM »
I have  apolicy similar on my Scout, non-primary vehicle, I get like 5-8K miles/year. They have no idea what my mileage is so it works out nicely. :)

03Indigo

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It's happening again (new car thoughts)
« Reply #10 on: June 06, 2005, 07:41:17 PM »
Quote from: "jfrahm"

The money is not a problem, but money is a resource to be managed wisely.  It could be that it would be smarter to eliminate the payment and put the money into my house or other investments.
-Joel.


Joel, Joel, Joel.......if you are worried about a sound investment and managing money wisely...WHY have two Porsche cars?  They serve the same purpose, both summer sport cars, not useful in the winter.  That is not smart either.  Maybe better to sell one of those and keep the Passat and have that for carrying more people around with you, winter use, etc.  Plus, it is a new car, and if you still owe $19K on it...that is not bad.  I understand about wanting to save a few thousand dollars a year, but if like you said "money is no issue"...then...well, what is the issue? haha.  Having 2 cars that are identicle in function, read porsche, that is not useful...but having a porsche and an all wheel drive Passat that is NEW is much more useful.  You can go to something older, all wheel drive, and save a few, but you might be spending more to maintain it since it is older.  You never know what you are gonna get unless you know where it came from.  The money you save might be spent in repairs, so in fact, you don't end up ahead at all.

I am not you, but if I were you, dump a porsche, keep the passat, and keep your favorite porsche.  If you are intending to keep them for collector status, well then, I guess sell the passat and see if that saves  you the money you hope to save.

I think in the market, you might get $20K for it, the trouble is...finding somone that is able to buy a private car for that amount.  It is possible, but it may take some time.  I am not sure what it is worth, I have not looked, also, I am not sure of demand for your car...all factors as we all know.

Good luck, but if I were in your shoes, and money was not an issue like you stated...keep what you got, and know you have a car covered under warranty that will be trouble free.

jfrahm

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It's happening again (new car thoughts)
« Reply #11 on: June 06, 2005, 08:19:18 PM »
The P-cars cross the line into hobby whereas the Passat is more transportation.  Yes I should have only one Porsche (or none?) and they do have similar roles, but they are fun to own and not too burdensome.  

I could also eat out less often, travel a lot less, buy cheap beer and rotgut whiskey, but that would make life less fun.

Having a more questionable daily driver would also make life less fun, but I have to weigh that against the annoyance of seeing the car sit there costing $500 a month.

Maybe I'll try driving a couple potential Passat replacements and see how tiresome they are.

-Joel.
2001 Audi A8 Quattro 4.2l

jfrahm

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It's happening again (new car thoughts)
« Reply #12 on: June 09, 2005, 09:15:47 PM »
Heh, figures.  Yesterday I'd decided to keep the Passat (after driving it to Denver and hauling some people around.)  Today I see an Audi 90 20v Quattro on Craigslist, I've always wanted one of those.   I had a 10v 90Q a few years ago, it was a great car but had over 180K miles on it and was a bit ragged.  A large rock took off the RF control arm near Telluride and it was too far away from home for a tow or to get a ride back to do repairs so I sold it to the towing guy.    Still for $1300 it was a great beater.  I bet the 20v would be more fun and this one should easily have another 100k in it.

Every time I think I'm out...
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BHase

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It's happening again (new car thoughts)
« Reply #13 on: June 10, 2005, 05:20:05 PM »
...they pull me back in!

I hear you on the car craziness.

Ben
I'm not an expert in any field but drinking beer and breaking stuff so don't take my response as the best foundation for a conversation." - Jay