Questions for car guys/gals

[kleeda]

I'm on a business trip and rented a Kia Sorrento last night. Driven it about 50 miles so far and really like it. I am not an SUV guy, though I've owned them.

I am a car guy, though, and the only thing to worry about with an I-4 engine these days is resale value, which for you is not an issue. And the Ford EcoBoost I-4 is awesome. You'll be able to buy one cheaper, and maintain it cheaper than a V-6 or V-8.

 

[Inky_Wretch]

Still, when you drive it off the lot, it drops anywhere from 30 to 50 percent of what you've financed.

That depends on what the used market is like. The huge value drops are not anywhere akin to what they were even five years ago.

And the make and model you buy. My 2006 Jeep Wrangler is actually worth about the same as the day I bought it. And that's not even counting the after-market accessories I've added like a lift kit, bigger tires, off-road bumpers and extra lights.

 

[Football_Bat]

Still, when you drive it off the lot, it drops anywhere from 30 to 50 percent of what you've financed.

That depends on what the used market is like. The huge value drops are not anywhere akin to what they were even five years ago.

Cash for Clunkers took millions of used cars off the market, and periodic gas price spikes drove demand for smaller cars. Not hard to imagine what that did for used car prices.

 

[qtlaw]

Last year I saw a 7 yr old Porsche Cayenne (?) (the SUV) for $20,000+ on the lot where I bought my sedan, unbelievable. Yet, the maintenance costs are huge so kinda makes sense.

A 4 seems small, but for our Sienna minivan, its fine although struggles a bit when the van's packed, but really, how many times does that happen? Very rare

 

[93Devil]

Last year I saw a 7 yr old Porsche Cayenne (?) (the SUV) for $20,000+ on the lot where I bought my sedan, unbelievable. Yet, the maintenance costs are huge so kinda makes sense.

A 4 seems small, but for our Sienna minivan, its fine although struggles a bit when the van's packed, but really, how many times does that happen? Very rare

Or if you live in a flat area. Hills call for bigger engines.

 

[Azrael]

Even with that turbocharged 4, the Explorer/Edge/Escape mileage isn't great. And as was pointed out, you'd be paying for premium on top of it.

You could save 10 grand and get the same interior/cargo dimensions and fulltime all-wheel drive with a Subaru Forester. And 32 mpg highway.

 

[OTD]

Even with that turbocharged 4, the Explorer/Edge/Escape mileage isn't great. And as was pointed out, you'd be paying for premium on top of it.

You could save 10 grand and get the same interior/cargo dimensions and fulltime all-wheel drive with a Subaru Forester. And 32 mpg highway.

I checked some other sources after SoCalDude said the salesman claimed it ran on regular. Ford's data sheet for media says it runs on regular, although I'm not sure if it means it will run on regular but best on premium. My old Nissan specified premium but would run on regular, but it got worse mileage and ran ****ty.

 

[BTExpress]

That depends on what the used market is like. The huge value drops are not anywhere akin to what they were even five years ago.

There was a scarcity of used cars on the market in the time after the financial crisis (as people hung on to their cars longer). As recently as a few months ago used car prices were still quite inflated. Not sure if that's still the case.

 

[nmmetsfan]

The cash for clunkers program and the recession combined to create an atmosphere where there was a very low supply of used cars on the market. Doesn't take an economic genius to figure out what that did to used car values. Which is why buying a new car stopped being such a lousy investment.

When new cars were only a couple thousand more than a two-year-old model with 40,000 miles on it, and you combine that with 0 percent financing (which you won't get in a used car), it was actually a better buy to go new if you had to finance. I know there are quite a few models that still offer 0 percent financing right now.

 

[Azrael]

Even with that turbocharged 4, the Explorer/Edge/Escape mileage isn't great. And as was pointed out, you'd be paying for premium on top of it.

You could save 10 grand and get the same interior/cargo dimensions and fulltime all-wheel drive with a Subaru Forester. And 32 mpg highway.

I checked some other sources after SoCalDude said the salesman claimed it ran on regular. Ford's data sheet for media says it runs on regular, although I'm not sure if it means it will run on regular but best on premium. My old Nissan specified premium but would run on regular, but it got worse mileage and ran ****ty.

Exactly.

www.ford.com/suvs/explorer/specifications/engine/

 

[User 11148]

... combine that with 0 percent financing (which you won't get in a used car), it was actually a better buy to go new if you had to finance. I know there are quite a few models that still offer 0 percent financing right now.

You're not getting 0 percent financing. They may call it 0 percent financing, but money cannot be borrowed for free. You're paying for the cost of that capital somewhere in there.

 

[Brian]

... combine that with 0 percent financing (which you won't get in a used car), it was actually a better buy to go new if you had to finance. I know there are quite a few models that still offer 0 percent financing right now.

You're not getting 0 percent financing. They may call it 0 percent financing, but money cannot be borrowed for free. You're paying for the cost of that capital somewhere in there.

Unless you have the cash to pay off the vehicle and there's no prepayment penalty on the loan. Then you got to make some interest off your money for a year or so. But this is not usually a consideration for us journalists.

 

[SoCalDude]

Even with that turbocharged 4, the Explorer/Edge/Escape mileage isn't great. And as was pointed out, you'd be paying for premium on top of it.

You could save 10 grand and get the same interior/cargo dimensions and fulltime all-wheel drive with a Subaru Forester. And 32 mpg highway.

I checked some other sources after SoCalDude said the salesman claimed it ran on regular. Ford's data sheet for media says it runs on regular, although I'm not sure if it means it will run on regular but best on premium. My old Nissan specified premium but would run on regular, but it got worse mileage and ran ****ty.

Exactly.

www.ford.com/suvs/explorer/specifications/engine/

I saw that page a couple of days ago regarding premium gas. I saw another one the next day regarding regular.
It seems that in the hype, all car manufacturers list the top level of performance using premium and running at the most efficient, precise RPMs. As with any performance claims, it won't be as good in real life.

 

[Football_Bat]

I still have the window sticker saying my truck will get 28 MPG highway.

Following the ethanol mandate, I'm lucky to get 22.

 

[Beef03]

Still, when you drive it off the lot, it drops anywhere from 30 to 50 percent of what you've financed.

That depends on what the used market is like. The huge value drops are not anywhere akin to what they were even five years ago.

And the make and model you buy. My 2006 Jeep Wrangler is actually worth about the same as the day I bought it. And that's not even counting the after-market accessories I've added like a lift kit, bigger tires, off-road bumpers and extra lights.

I have an 08 Wrangler and love it. Only wish I had time to actually take it off road. Once it's paid off it will get the full treatment and become strictly an off road vehicle. Until then I still need a vehicle for work. Although an SUV is not a requirement for work, after driving a tiny little hatchback and followed by a grandpa car, it felt so good to drive something that I fit comfortably in and fit my age bracket. Plus, for where I was when I got it, 4x4 is so beneficial during the winter. Only thing that sucks about my Jeep is taking it on long drives, your ass will fall asleep, and it is a pig, although I believe mileage has supposedly improved a lot in more recent models. But I love it and highly reccomend at least looking at one. They're built to last and damn, they're cool. Also, you can get them with all the creature comforts, regular gas is fine, and if you need the space, there is a four door version available. Plus when the sun is out, you pop the roof off and you're set -- my Jeep has two flaps over the front seats like a t-roof without the bar, that come off in about 30 seconds.