Suggestions/Opinion on Third Car

[R N M]

Subaru Legacy or Outback
Great AWD system.

[Mingwan]

fox body mustang. drop 10k in the car, run 10's. done.

I also love the way the Outback looks.

[Need4spd28]

Originally Posted by eluded

S2000

Phenomenal idea here! Used to have a 2003, actually. The fun factor is second to none.

Now, please join me as I digress back to reality...

This wasn't originally what I had in mind, but what about just leasing another car? Jeep and Subaru both happen to have pretty decent specials this month.

2017 Forester Limited/Touring
15,000 miles/year
Sticker of roughly $32k-$34K (depending on model)
Sign & Drive = $0 due at signing
$300-$350 per month

2017 Grand Cherokee Lorado 4x2
15,000 miles/year
Sticker of roughly $36K, discounted to $31K (advertised)
$3,000 due at signing
$341 per month

I haven't gone to see either yet, but on paper the Forester probably makes more sense. I am partial to the styling of the GC however.

Okay, boys, shit's about to get real now. Go!

[nyalpine90]

NEW CRV

[Need4spd28]

Pretty sharp looking but too similar in size to our X1.

[David70]

Originally Posted by Need4spd28

Alright gang, really interested to hear your thoughts on this one. My fiancé and I both lease our BMW's, my M3 and her X1. Collectively, I've realized that we drive about 50K miles per year, me 20K and her 30K. As luck would have it, she switched jobs and decided to join me in sales about three months after getting her car. Plus, we take her car on road trips to SoCal and what not so her car is getting hammered. At this rate she will hit her full 3-year mileage allotment in another 6-7 months, roughly halfway through term.

So I've decided the best way to address this issue is by getting a third car that we can put 20K miles a year on. She will drive it about 75% of the time and I will drive it 25% of the time. In a perfect world I'd like to get a larger (than her X1, that is) SUV with all wheel drive that we can drive up to the snow in. This is something we just got into doing this winter but I can see it becoming a more regular thing in the future.

The budget here would be less than $15K ideally. I originally wanted to just pay cash and avoid another car payment but I've realized that I won't be able to find a new enough car/SUV, with low enough mileage, that I like enough, that's in the price range of what I'm willing to put down in cash.

This car is going to get driven a fair amount so it can't be some old beater. At the top of my wish list is a Grand Cherokee, but my Lord do they hold their value. Tough finding a 2011+ with a reasonable amount of mileage for less than $20K. Others on the list include a Touareg, Golf/GTI, Mini Cooper Countryman S, and I've even found a couple of GLK350's for sale that are in range.

All things considered, including reliability and maintenance, price, ROI, drivability and enjoyment, what are everyone's thoughts? Other suggestions?

Originally Posted by Need4spd28

Phenomenal idea here! Used to have a 2003, actually. The fun factor is second to none.

Now, please join me as I digress back to reality...

This wasn't originally what I had in mind, but what about just leasing another car? Jeep and Subaru both happen to have pretty decent specials this month.

2017 Forester Limited/Touring
15,000 miles/year
Sticker of roughly $32k-$34K (depending on model)
Sign & Drive = $0 due at signing
$300-$350 per month

2017 Grand Cherokee Lorado 4x2
15,000 miles/year
Sticker of roughly $36K, discounted to $31K (advertised)
$3,000 due at signing
$341 per month

I haven't gone to see either yet, but on paper the Forester probably makes more sense. I am partial to the styling of the GC however.

Okay, boys, shit's about to get real now. Go!

Seems like the leases don't meet the criteria and assuming they are 3 years leases, best case you are paying $300 a month plus insurance and registration on another car and assuming this ends up costing close to $5000 per year? Then when the current vehicles are turned in you will then again go over the mileage on the 2017? Seems like an endless cycle of getting cars with limitations that don't meet your lifestyle.

Will paying $5k a year on the Subaru really save you $5k a year on going over the mileage on the lease? Then you lease/buy a lower level car to save money on the more expensive car you would prefer to drive (which is why you got them)?

I think it is unlikely that getting another new, leased car is going to help the situation as it comes with high depreciation because it is new and you want to put 20k miles a year on it.

Have you considered all of the costs for getting another car and compared it to the case of keeping both of your cars or getting rid of one of them now?

If finances don't matter get what you want but if your goal is to save money while driving a ton of miles I would stay away from the MB, BMW, and the Porsche's mentioned.

[Alfisti]

It's pretty car the OP WANTS rather than NEEDS a 3rd car so no point trying to make sense of other options.

[Need4spd28]

Originally Posted by Alfisti

It's pretty car the OP WANTS rather than NEEDS a 3rd car so no point trying to make sense of other options.

It's a little bit of both I suppose, but I doubt that I would be considering a third car if we were only driving 30K miles a year. Given that we drive 50K, then yes, getting a third car to drive those extra 20K miles in as opposed to just paying for overage is more appealing to me.

[Need4spd28]

Originally Posted by David70

Seems like the leases don't meet the criteria and assuming they are 3 years leases, best case you are paying $300 a month plus insurance and registration on another car and assuming this ends up costing close to $5000 per year? Then when the current vehicles are turned in you will then again go over the mileage on the 2017? Seems like an endless cycle of getting cars with limitations that don't meet your lifestyle.

Will paying $5k a year on the Subaru really save you $5k a year on going over the mileage on the lease? Then you lease/buy a lower level car to save money on the more expensive car you would prefer to drive (which is why you got them)?

Save? No, it'll basically be a wash. Collectively, we will pay $4K-$5K per year in excess mileage.

$300 a month is only $3,600 per year, plus $100 a month or so to insure it and like I said, it's pretty much a wash.

[Need4spd28]

Originally Posted by David70

Then when the current vehicles are turned in you will then again go over the mileage on the 2017? Seems like an endless cycle of getting cars with limitations that don't meet your lifestyle.

This would be true if this were a short term problem, but it's not. We will be continuing to drive the same amount of miles well beyond the lease terms on our two current cars.

[Red Bread]

You know how there are cases where leases make sense and then cases where they don't? This is the latter. Buy something.

[Alfisti]

I cannot make leases add up at all here in Canada, way, way too expensive. I LOVE the idea but the math says no.

[Need4spd28]

Do you know why it's so different?

[Alfisti]

Originally Posted by Need4spd28

Do you know why it's so different?

No idea but I suspect it's not as sweet as it looks in the US as people like the idea of leasing and don't look at total spend.

By the time you put money down i just cannot make it work vs buying, let alone vs CPO. As an example, our X3 35i i expect to cost us $504 a month for 3 years, it is CPO, a brand new one is $795 per month all in.

This takes into account all fees, charges, depreciation, repairs, servicing etc. That's $9K over 3 years in my pocket.

[jmg]

Originally Posted by Red Bread

You know how there are cases where leases make sense and then cases where they don't? This is the latter. Buy something.

I'm the a similar situation as the OP. I drive in excess of 30k a year. I bought two Audis in a row and used them like toilet paper. By the time I was done with my S4 after 5 years, it was garbage. It needed a new engine, it was constantly in the shop etc. It was so inconvenient to take it to my mechanic because I would have to rent a car, and the dealership was charging wayyyy to much. I started leasing and never looked back. A new car every 3 years, pay a couple thousand for overages, and less monthly. And yes, I did the math.

I did a 5 year projection. In 5 years I would have paid the same for a leased car as I would for a new car, except I would have a brand new car after 3 years. The only way that purchasing would be adventageous is if I kept the car after it was paid off... but then I would be stuck with an aging car with high maintenance.

Currently, I think the best solution is to lease my "fun" car and have a used economic car that I wouldn't mind keeping for 10 years. I would split the miles between my leased car and my owned car. That way, the wear and tear is split, and I still get a new "fun" car every three years.

[Need4spd28]

Went out checked out the Forester as well as the Grand Cherokee. I didn't really care for how the Forester drove, much less the looks. A lease on the GC just makes no sense. Back to the drawing board.

[eluded]

Originally Posted by Need4spd28

2017 Forester Limited/Touring

Vs

2017 Grand Cherokee Lorado 4x2

My vote is for the Cherokee between the two options unless the Subaru has a manual transmission

OR

maybe get an ap2 s2000, just say'n

[Need4spd28]

Found a 2008 Rabbit with 57,000 miles for $6,500. Only caveat is that it has a salvage title. It's being sold by a dealership here in Phoenix that deals only in salvage titled cars. Believe it or not, they have a stellar reputation. I even have a colleague who has bought several cars there and speaks very highly of them.

This would be more along the lines of my original plan to just pay cash for a car and call it a day.

http://www.bestwesternmotors.com/200...1/Details.aspx

[GATORB8]

Originally Posted by Need4spd28

Found a 2008 Rabbit with 57,000 miles for $6,500. Only caveat is that it has a salvage title. It's being sold by a dealership here in Phoenix that deals only in salvage titled cars. Believe it or not, they have a stellar reputation. I even have a colleague who has bought several cars there and speaks very highly of them.

This would be more along the lines of my original plan to just pay cash for a car and call it a day.

http://www.bestwesternmotors.com/200...1/Details.aspx

There are plenty of economy cars that have hit the bottom of the depreciation curve sub $10k, wouldn't think you'd need to go salvage.

cargurus has several AWD Nissan Rouges ~2013 ~60k for <10

This one is actually pretty interesting. 2014 Flex with 27k for 15,000: https://www.cargurus.com/Cars/invent...ting=164286200

[Need4spd28]

Test drove a 2007 Range Rover yesterday, an ML 350, and a 2011 Grand Cherokee Limited. The Cherokee is the overall leader in the clubhouse. Such a great all around package.