I pulled the trigger on 2019 Scat Pack Charger

[1978 NYB]

Bob, how come you didn't shoot the whole wad and go for a Hellcat?

The Hellcat on the showroom floor someone in Texas bought. They were just waiting on the guy to make shipping arrangements. It was a F8 Green car. They didn't have another Hellcat until a week after I bought the Scat Pack. I might of considered buying this one. There was another Hellcat at another Dodge dealer but it was white with black stripes over the hood, roof, trunk. I didn't like the color or the stripes. I took the Scat Pack out for a test drive. Liked it and bought it. Cook Dodge had another Scat Pack but it was white with the black stripes and it had all of that unecessary safety crap on it. I think it's an ugly *** car.

 

[commando1]

@Dobalovr

Is there any way Joe Average can check national new car inventory and location by model?
We could do that with Vettes.

FWIW, FIA has the absolutely worst, non-navigable, SLOW! website of any manufacturer. The Build & Price is a joke coded by some 21 year old who's entire life has been guided by FB

 

[Dobalovr]

@Dobalovr

Is there any way Joe Average can check national new car inventory and location by model?
We could do that with Vettes.

FWIW, FIA has the absolutely worst, non-navigable, SLOW! website of any manufacturer. The Build & Price is a joke coded by some 21 year old who's entire life has been guided by FB

I don't think you can search National Inventory just zip code by zip code and then within a set distance. I agree the corporate website is very hard to navigate and is dreadfully slow at time. You should see how well the internal system works....

I have yet to see an average Joe walk into my store with a printout from the build and price website that actually can be built that way. Restrictions, constraints, shipping issues are not taken into account.

 

[1978 NYB]

@Dobalovr

Is there any way Joe Average can check national new car inventory and location by model?
We could do that with Vettes.

FWIW, FIA has the absolutely worst, non-navigable, SLOW! website of any manufacturer. The Build & Price is a joke coded by some 21 year old who's entire life has been guided by FB

I can look at 4 dealers within 25 miles of me. Plenty of generic metric cars. 1 or 2 hot rods at most at any of them.

 

[commando1]

 

[1978 NYB]

View attachment 285002

Maybe only $57k with 5500 miles but.....

First off it is a lease.

Second, NO ONE makes all of those mods without pounding the **** out of the car.....often.

 

[Dobalovr]

View attachment 285002

About right for Market Value a Dealer likely wouldn't pay more than $50k for it. Charger's do not bring as much as the Challengers do.

 

[commando1]

About right for Market Value a Dealer likely wouldn't pay more than $50k for it. Charger's do not bring as much as the Challengers do.

I checked the BLACK Book and, yep.... $50k.
I don't use any of the other used vehicle guides. Works of fiction.

So here you have another idiot upside down on a lease.

FWIW, I checked the BLACK Book for my 6,000 mi. '16 MKS...

 

[Dobalovr]

I checked the BLACK Book and, yep.... $50k.
I don't use any of the other used vehicle guides. Works of fiction.

So here you have another idiot upside down on a lease.

In regards to the Leasing Myth:

Leasing is just a different way to finance a vehicle. Future Value calculations give the buyer different options than traditional declining balance front end loaded loans.

Common questions about Leasing:

You don't own it: Well until it is paid for the Bank owns it. Based on how declining balance loans work you are paying the majority of the interest to the bank at the beginning of the loan and it is only after the interest has been paid that you start taking a bigger portion of the principle. Typically you have to get 5/8ths of the way through a loan to break even against depreciation. Example a new car loan payment of $400/month has a interest/principle ratio of $350 interest to $50 principle for most of the first 4 years. By the time your outstanding loan amount is equal to the value of the vehicle it is 4-5 years old. Maintenance and repairs outside of warranty will now be a factor so cost of ownership actually rises the longer you hold onto it. Once it is paid for you have a 5-7 year old lump in the driveway worth 10% of it's initial purchase price less all the maintenance/repairs so really it's worth ZERO so you own ZERO.

It's just renting: Yup it is like renting as you are paying for the use of the vehicle. Like renting you can hand the keys back at the end of the contract and walk away. Try doing that with a Bank...

I drive too many miles to Lease: Well the Bank isn't going to give you a break because you drive a lot. With a properly designed lease mileage is accounted for in the monthly payment not as a big surprise down the road at trade in time. It is easier to absorb a smaller amount monthly then deal with a bunch of negative equity at trade in time due to mileage. The car is worth the same whether you leased it or financed it or paid cash. A 5 year old car with 100000 miles is worth what it is worth doesn't matter how you paid for it. With a lease you have a guarantee of its value and if it is not worth the guarantee it is the Leasing company's problem not yours.

I have always leased my personal cars as I want nothing to do with a modern vehicle after the warranty is up. I am always going to have a car payment so I may as well drive new cars that require very little initial maintenance and shouldn't need a lot of warranty work.

Smart man once said: You purchase an appreciating asset (C-body ) you Lease a depreciating asset. In other words buy the Rembrandt but Lease the Justin Beiber .....

If anyone has questions about Leasing I am happy to answer...

 

[ImpJay]

Well until it is paid for the Bank owns it.

Graham, I don´t get this.

When somebody is leasing a vehicle, isn´t that certain vehicle possessed by a dealer/leasing company rather than a bank?

 

[Dobalovr]

Graham, I don´t get this.

When somebody is leasing a vehicle, isn´t that certain vehicle possessed by a dealer/leasing company rather than a bank?

Good question. Title is in the name of the Leasing Company yes. If at the end of the lease you choose to buy it you will be given a Bill of Sale in your name and title transferred. When I say the Bank owns it I am speaking metaphorically. Until the Lien is satisfied the Bank has an interest in the vehicle and will exercise that interest upon the sale or default of the loan.

 

[commando1]

I have always leased my personal cars as I want nothing to do with a modern vehicle after the warranty is up. I am always going to have a car payment so I may as well drive new cars that require very little initial maintenance and shouldn't need a lot of warranty work.

You're only telling part of the argument of Lease vs. Buy. Your argument works for YOUR particular situation.
I bought my '06 F-150 new for under 16 grand. I still have it.
Should I have leased it?

 

[Dobalovr]

You're only telling part of the argument of Lease vs. Buy. Your argument works for YOUR particular situation.
I bought my '06 F-150 new for under 16 grand. I still have it.
Should I have leased it?

Did you finance it?

 

[commando1]

Did you finance it?

F#@ NO!

 

[Dobalovr]

F#@ NO!

Well then you are the exception then lol

Obviously the best way to buy a car is to pay cash but let me ask you this Stan....how much would that cash have made had it been invested over 5 years? would you have been able to realize an 8% return on it? If you did Ford financing at say 2.99% and realized an 8% return on your cash did you not just make money financing the truck?

 

[commando1]

Well then you are the exception then lol

Obviously the best way to buy a car is to pay cash but let me ask you this Stan....how much would that cash have made had it been invested over 5 years? would you have been able to realize an 8% return on it? If you did Ford financing at say 2.99% and realized an 8% return on your cash did you not just make money financing the truck?

Don't give up your day job, Graham. Accounting is not your forte.
What you're saying is that I should have financed it and have a $400 a month nut to crack AND put 16 grand into an investment that gives me a $1.98 interest per month?
Graham, stop it. You sound like a car s..... Wait. You are one.

 

[Dobalovr]

 

[1978 NYB]

I'm kind of hard headed about buying, leasing, renting.....

To me renting a house instead of buying house is just throwing money away. Of course I never owned a house until I was retired from the Army at 41 years old. I probably would of done things a little different. I would of bought a rancher and built a 60×35 Amish garage with 2 lifts, bathroom, compressor, heat and air. My house is paid for and I'm not paying rent or a mortgage anymore.

Cars are the same with me. I'm going to own them....forever is the plan. I stay on top of preventive maintenance and I don't beat them extremely hard. Maybe a few passes on a racetrack here and there.

I've been real mindful driving the Scat Pack....most of the time. I pick my spots to enjoy the performance and cautious the rest of the time. The local cops have a lot of interest in my car and follow me for a little bit when they see me. The Military/Federal police on the Proving Ground are my friends and I don't have anything to worry about.

 

[Dobalovr]

How we (Being salespeople) look at cash versus finance is as follows:

$20000 purchase
financed over 5 years @ 4.99% is $2640 in interest and a payment of $377/month which is a 5 year outlay of $22620
if that same $20000 was put in an interest bearing account or instrument that generated an annual return of 5% the value at the end of 5 years would be $25500
if you pay me $22620 over 5 years I will give you $25500 back for a net benefit of $2880. If you put the money in an investment that returns 8% the net return is $6766 after 5 years. If you can do the financing at 0% the answer is obvious.

 

[commando1]

If you put the money in an investment that returns 8%

Find me ONE investment that pays out 8% per year, EVERY YEAR, for 5 years and allows me to cash out after those five years. Yah, in the 80s maybe. But car loans were 10%.

Just ONE....

But throw in the lifetime paint protection package and we'll talk.