Yay me and my new car?

[Jazuela]

We haven't finalized the deal yet, that's hopefully tomorrow if the tiny scratch is either fixed, or they take a serious chunk of change off their asking price so we can get it fixed ourselves.

But once it's final, I will be the proud owner of a 2003 Jaguar.

Okay, it's "only" an X-type and looks more like its model Ford Contour than a Jag, except for the front end which has the classic Jag features. But - it's a Jag! Racing green (I call it money green, heh), with ivory soft leather *heated* power seats (driver and passenger), Alpine sound system with 6-cd changer in the trunk, sunroof, decent mileage (44k), AWD, burlwood dash, and it's still got a few months left on the warranty, plus I'm opting for the extended 3-year warranty.

My very own Jaguar - my dad's gonna be SO jealous, he and I have both wanted one for years.

[TheEschaton]

I didn't realize Burger King paid that much.

[Bobmuhthol]

<<I didn't realize Burger King paid that much.>>

Come on now. The blue book value is under half the price of a new Jaguar (don't forget that this is an X-Type), it could easily be financed on a pretty low salary no matter who you are.

[Celephais]

I didn't realize Burger King paid that much.

Kelly blue puts it at $14-18k

Glad you're happy with yur car Jaz, I wouldn't discredit it for being "just an X-Type", still certainly nice.

[vontez]

lol. you forgot to buy two jags. One to have in the garage to fix, one to actually drive.

I'm looking to buy a cadillac CTS when I graduate myself. drool.

[Artha]

I'm looking to buy a cadillac CTS when I graduate myself. drool.

Throw some Ds on that bitch.

[RichardCranium]

Jags suck a lot of ass. Buy a Honda and get 30 more miles per gallon.

[Jazuela]

I've heard some of the horror stories about Jags, mostly it's the electrical systems on the older models. Since the X-type is built similarly to the Ford Contour, it isn't *as* known for problems as the other models. I'm already prepared to deal with tweaks and nudges here and there, but it won't cost me a thing since the extended warranty is bumper-to-bumper for 3 years after the current warranty expires.

The MPG is 22/28, I'm curious which 4WD or AWD Honda gets 30MPG more than that.

Burger King doesn't pay enough to cover it. Good thing I don't have to work for a living. We're paying cash.

BTW, this is the one I REALLY wanted, but the only one in the area for sale had too many miles on it. The price was right though, for a 2002 (2 years earlier than the one in this photo):

http://www.familycar.com/RoadTests/JaguarXJ/Photos2004.htm

[Bobmuhthol]

Okay I've changed my position on this because of the last post.

What a stupid use of $15,000+ cash.

[Stanley Burrell]

Don't drive it on Whitney around the Chapel/Temple split! That'll just eat up your suspension :(

Good luck with el carro gato :-)

[Jazuela]

I don't consider it stupid at all Bob. I need a new vehicle. I have a certain budget I want to stick with but I could finance just about anything if I really needed to. I absolutely require either 4WD or AWD, I was looking for reasonable gas consumption, though since my current Explorer Sport gets only 18/22, 22/28 is a blessing. I could've bought a brand new Mazda Tribute for $10 after a trade-in and dealer match, but I hate the ride and the seats aren't even a little bit comfortable. I wanted a RAV4. The test drive on that passed with flying colors, but it was 2 years old, and only $1000 less than a brand new one, and I couldn't justify the expense. I didn't want a brand new one because I don't like the longer wheelbase and cabin. I like the older models between 2004 and 2006 best on the Toyota.

So - while we were hemming and hawing on a few kajillion SUVs, I thought back to the years I pined for a Jaguar, and how awesome it would be if I actually found one I could afford. So that when I'm old and looking back on my life, I can add that to the list of "things I always wanted to do, and did."

This Jag, while not the model I drool over, is still an awesome car, test drives like a dream, has the AWD I require, lots of little doodads I may or may not ever use but are also to know I have them (like a sunroof). Heated memory power seats, though..wheee! My Explorer has power seats, but they're not heated. When hubby needs to drive it, I can just push a button and the seat resets back to how I like it.

Lots of cars have these features. There are plenty that might be built better, have superior this or that or the other thing. But my heart belongs to Jaguar, and this one practically fell in my lap. I COULD drive any old car and be satisfied that I'm able to get from point A to point B. But buying something I've always wanted to buy, but never thought I'd be able to do it, is as far from a waste of $15k as a hot fudge sundae is a waste of $3.

[Jazuela]

If you're very good Stan, I might even take a quick trip downtown after I buy it and we can meet for lunch at Mamouns, and give you a ride back to wherever the hell you live <chuckle>. As for the tri-corner at Whitney/Temple, I have no fear, for I have my Ninja Pirate Zombie Robot hanging from the rear view mirror. The bumps in the road will pheer my NPZR!

[Celephais]

But my heart belongs to Jaguar, and this one practically fell in my lap. I COULD drive any old car and be satisfied that I'm able to get from point A to point B. But buying something I've always wanted to buy, but never thought I'd be able to do it, is as far from a waste of $15k as a hot fudge sundae is a waste of $3.

Certainly agree with you there, going through life making only responsible choices is fucking boring. If it makes you happy, it was the right choice.

[Jazuela]

<3 Celephais (even though whenever I see your name I think of a cross between celery and cellophane)

Thanks for the encouragement. I just really REALLY hope they fixed that stupid little scratch on the hood. Almost 2 inches long and someone touched it up with the WRONG color touchup paint. On a rinky-dink piece of tin Honda I wouldn't give a shit. But on a Jag, it's inexcusable.

[Bobmuhthol]

wtf @ "rinky-dink piece of tin Honda"?

Now you're going to make fun of other cars because you own a (less expensive than a lot of Hondas...) used 2003 Jaguar?

Fuck it, I won't read this thread anymore. Ridiculous.

[AestheticDeath]

Id most likely prefer a Jaguar over a Honda, depending on circumstances.

If you like the car, be happy with it - and don't let other peoples opinions detract from your new purchase.

[Jazuela]

Yeah, and I can make fun of them, because I used to own one. So did my husband. Love'em, but they're about as sturdy as a tin can. Lot of fun to drive, they get great pickup, but they're noisy as fuck on bumpy roads and other than the CR-V, hard as hell to maneuver in the snow. Great fun for summertime driving, but I ride a bicycle in the summer so I don't really need a motor vehicle for that.

[Kranar]

What a stupid use of $15,000+ cash.


Wow I never knew that buying a car was a waste of money.

[Back]

Nice ride Jaz. I’ve had the luxury to drive/ride in one and they are pretty sweet. If its cherry, thats one hell of a bargain.

[Jazuela]

Not cherry, but pretty close. At 44k miles you can't expect mint condition, it has that one scratch on the hood, and another on the back bumper near the trunk which can't be buffed out since the bumper is plastic. There was some kind of problem with a battery, it looked like it had exploded and been replaced and the new battery already had some corrosion on it. My guess is an electrical problem with the terminal, but they took it off the lot and fixed it already.

I checked everything else under the hood that I could without putting it up on a lift, all the connections looked good, belts and hoses in perfect shape (one looked like it was new so probably replaced from one that had worn out). Tires aren't brand new but have excellent treads and appropriate wear. I checked the car history, it had originally been a lease, with no reports on the carfax thing (though that simply means any trouble wasn't reported, not that there wasn't any trouble). No oil leaks, brake fluid isn't cloudy, no funny noise when I brake hard or turn fast at corners, etc. etc. etc. All the doors align perfectly, hood does too, trunk opens and closes flawlessly, and all that other stuff you should check when you're looking for a good-condition car.

[Gan]

Good luck with the car and glad you were able to find what you wanted for how much you wanted.

If it makes you happy, who cares what everyone else thinks eh?

[Sean of the Thread]

I agree with get what you want if it makes you happy.

I don't agree with an all cash car purchase of $15,000. Much better use for that money but hey if you're rich and all ...do eeeeet.

[Jazuela]

It's technically a home equity line of credit, which is considered a cash transaction. We're using some of the equity on our home (not all), with no interest, no penalties, no points. Plus, there's a tax advantage that I sort of understand but not enough to explain. Our combined income isn't "rich" but we have funds, so we have to be careful how we spend, and where we spend, or we get socked with income taxes that are normally paid by wealthier people. Technically we fall into the "middle-middle" class income bracket, nothing too fancy, no jacuzzi, no built-in pool, no master bedroom suite. But after going over all the options on paying for a vehicle, we decided this was the least expensive way to go. We have $10K cash available from inheritence funds on my family's side. Plus we'll get around $5000 on the trade-in for my Explorer. That means we'll really only be paying $5000 for a Jaguar out of pocket, after taxes, extended warranty, and the first year of insurance. Which is - rather nice :)

[TheEschaton]

I would buy a car with cash if they gave me a significant discount which would offset what I would make with the (balance - payment-to-date) in the stock market.

But they never do, so I would just buy on a monthly plan and invest in the stock market, and make the money for the car in the time it takes to pay off the car, with the cash I would of used to buy it outright.

-TheE-

[Jazuela]

Our investments are locked into IRAs and we can't touch them without significant penalties. I have some stock in Intel and a local utility, but those are also retirement funds, which is one of the reasons why I don't "have to" work for a living. Every time you pay a payment on a car, you're paying interest that you never get back. I did some calculating and it came to around $3500 MORE than the actual price of the car, if I financed the car. The tax advantage by allowing the money to accrue interest between payments would have brought me only around $2000, leaving me with an extra $1500 paid to a finance company that I'd never see again.

So for me, it's cheaper to pay cash. No income tax on interest by leaving the money in the bank. No interest paid to a finance company. The home equity line of credit is a sweet deal for anyone who has it available, because you *never* have to pay it back; it just comes off whatever you get for the house when you sell it, with zero-accrued interest.

[Sean of the Thread]

because you *never* have to pay it back; it just comes off whatever you get for the house when you sell it, with zero-accrued interest.

That's called paying it back.

[Jazuela]

Yes Sean, you're right. Except it isn't paid out of our pocket, it doesn't come from our paychecks. It's just deducted from the selling price of the house. So while yes, it is something that gets paid back, we don't have to feel any loss. Especially if we make a profit on the sale of the property when the time comes.

[DeV]

Jags are classy. Grats on your purchase.

[TheEschaton]

what the hell kind of interest were they offering you that would have paid 3500 on a 15 grand car?

-TheE-

[Jazuela]

The selling price is $16,994, before taxes, fees, and the extended warranty. It comes to around $21 after all that.

A 5-year finance, using only the trade-in as a down payment, at the current avarage interest rate, blah blah blah...can't remember that the number was. 7.5%? 9%? Something like that. I'd pay less if I just put the whole damned thing on my credit card. But the thing is, I don't want to pay ANY interest. Interest paid out = your car costs more than the asking price.

1 more hour and I get to submit the commitment papers. IF they got rid of that ugly scratch or reduce the asking price a significant amount to cover the cost of my getting it done after I buy it.

Just re-found the math:

Total cost after warranty, taxes, fees: rounded to $21,000
Less $5000 trade-in, equals $16,000 net cost
Loan: 60 months at current APR of 7.59%
Monthly payment would end up being: $321.29

$321.29 (per month) x 60 (months) = $19,277.40
19277.40 (total payments) - 16000.00 (net cost) = $3,277.40 cost above cost paid in interest

[Warriorbird]

Ooof. Not the Jag I would've gone for. But if it makes you happy?

:shrugs:

[TheEschaton]

Uh, if you couldn't recoup $321 a month on the stock market on a principal of 15,679, there's something wrong. You would of ended up with more than the 3200 in investment returns, and thus would have paid less for the car, both immediately, AND in the long run.

-TheE-

[Parkbandit]

I would buy a car with cash if they gave me a significant discount which would offset what I would make with the (balance - payment-to-date) in the stock market.

But they never do, so I would just buy on a monthly plan and invest in the stock market, and make the money for the car in the time it takes to pay off the car, with the cash I would of used to buy it outright.

-TheE-

Thankfully, you went into law instead of accounting.

Not many people would give the advice of "finance the car and put your money in the stock market"

[TheEschaton]

Because apparently the American public can't handle paying its monthly bills on time.

-TheE-

[Sean of the Thread]

I live in the land of rich people cars... I'm not impressed by much anymore.

(except for the douche bag that has a Jag XK at my gym with Buc's tags or the guy with the Ferrari scagliosomething or other)

[AestheticDeath]

Personally I would have done the same thing - paying all in cash instead of a loan. Mostly because I don't know how to invest in the stock market.

I mean I am sure I could go waste some money buying stocks.. But I have never done it before, and fear losing it all.

[Parkbandit]

Because apparently the American public can't handle paying its monthly bills on time.

-TheE-

No, it's just really stupid advice.

[Parkbandit]

Personally I would have done the same thing - paying all in cash instead of a loan. Mostly because I don't know how to invest in the stock market.

I mean I am sure I could go waste some money buying stocks.. But I have never done it before, and fear losing it all.

Whether or not you know how to invest in the stock market or not, buying a car with cash is always the preferred option to anything.

And seriously, it's not difficult to learn how to invest in the stockmarket.

1) Open an account with an online trading company (I use TD Ameritrade)
2) Deposit money into said account. You can do an electronic transfer from your bank account.
3) Place order for stock you choose to buy.
4) Watch your account.

Now, the trick is.. figuring out the stock you can make the most money from :)

[Ignot]

Uh, if you couldn't recoup $321 a month on the stock market on a principal of 15,679, there's something wrong. You would of ended up with more than the 3200 in investment returns, and thus would have paid less for the car, both immediately, AND in the long run.

-TheE-

dude, that's like over 20% return. Stock market isnt gonna be doing that. Dont forget about cost to invest, too. I agree with what PB said, paying cash upfront is better then financing.

Congratulations on your new car.

[TheEschaton]

Uh, 10% of 15,679 is 1,568. Which is quintuple the payment per month. You'd only need 2% return a month to cover the payment.

-TheE-

[Bobmuhthol]

Which is 24% per year.

[Tolwynn]

You have to figure in the transaction fees when you buy and sell too, which makes moving small blocks almost not worth it most of the time. Plus there's your short-term capital gains taxes if you haven't sat on the stock for a year as well.

[Jazuela]

They're just jealous, because....


i has a jag

WHEEEEEE! Pictures to come when I get around to it, but I just got home and need to stand out in my driveway, gloating at the neighbors :)

[Numbers]

I drive a 94 Toyota Camry.

That I bought used for $6k with 20k miles on it.

It now has 110,000 miles on it, and drives just as good as it did the day I got it.

Function over style, no doubt.

[Stanley Burrell]

Not sure how keen you are on add-ons, but I'm really close to a damn decent carshop if you ever want to put $6000 dollar hubs on the ride. That's where I tricked out the shaggin' wagon. Oh yeeeah.

I always wonder how the chop shops never get jacked with half a million dollars in chrome and gold waving at people through giant front windows. Like, even with all them burly car dudes.

[Jazuela]

Stanley, one does not "trick out" a Jaguar. A Jaguar speaks for itself, as is.

Oh and my stereo isn't a 50-pound subwoofer in the trunk. It's an Alpine 8-speaker orchestral sound system, thankyouverymuch.

It's too bad I don't use a cell phone, this kittycat comes with an on-dash phone system, with the microphone next to the steering column. I press a button on the dash and I'd get a dial tone, then dial the number from the keypad next to that button. Pretty nifty. But I don't use a cell phone, so it's just one more doodad the kittycat comes with, that I'll never use.

[Sean of the Thread]

Whether or not you know how to invest in the stock market or not, buying a car with cash is always the preferred option to anything.

And seriously, it's not difficult to learn how to invest in the stockmarket.

1) Open an account with an online trading company (I use TD Ameritrade)
2) Deposit money into said account. You can do an electronic transfer from your bank account.
3) Place order for stock you choose to buy.
4) Watch your account.

Now, the trick is.. figuring out the stock you can make the most money from :)

A 0% loan is always preferred over paying cash that can make you money otherwise. Imo.

You just need to be able to nail the 0%. She does not seem to be in that crowd.

My whole issue was it's not a practical car.. it's a risky (crappy jag) luxury purchase and a waste of money if you cannot afford it. If your being offered 8% rates you cannot afford it. Get something practical.. minivan or pickup truck.

[Jazuela]

A 0% loan is always preferred over paying cash that can make you money otherwise. Imo.

You just need to be able to nail the 0%. She does not seem to be in that crowd.

My whole issue was it's not a practical car.. it's a risky (crappy jag) luxury purchase and a waste of money if you cannot afford it. If your being offered 8% rates you cannot afford it. Get something practical.. minivan or pickup truck.

What's practical about a pickup truck or a minivan, when you're married to a guy who drives a Dodge Dakota and you have no kids, drive less than 1 mile each way to work, and can fit your weekly groceries in the trunk with room to spare?

Answer: Nothing. There is absolutely nothing practical about either option. My most practical option would be to buy a Vespa with baskets on each side for the groceries, and walk or ride my bike to work.

I'm done being practical. I was practical most of my life. I can't afford a luxury mansion with butlers and maids, I can't afford yearly trips to Europe, I can't afford to fill my closet with Channel and Gucci. But - I can afford an adorable, luxury-feeling, kitty-cat adorned used Jaguar. And - so now I have one.

Oh and as for being "offered" 8% rates, I wasn't. I did a quickie check on the internet for the "average" APR for a 5-year auto financing deal, and that 7.59% was the number that showed up as average. My credit is good enough that I have to call the credit card company every year and remind them that I do NOT need a $20,000 credit limit, and to please lower it back down to the $8,000 I asked for the year before. And even when I'm late in a payment (which isn't often since I tend to pay off any credit card bill in full when it comes), my interest never goes over 9%.

[Tsa`ah]

There's nothing wrong with buying a car with cash if the vehicle is sound.

It doesn't hurt or hinder your credit rating and it does offer an asset against a smaller loan if needed (though depreciating).

Personally, it would make more sense to me to drop 10-15k on a vehicle and get a smaller, lower interest, personal loan for half to a third of the car's book value.

Use that as your investment capitol if investing is paramount to you, otherwise stuff it back into the bank and repay better than agreed for the credit rating.

I personally don't like the idea of financing a used vehicle, let alone a new vehicle, simply due to the enormous rate of depreciation every time you so much as look at your purchase.

Other than that, I can think of a 1001 ways to "trick out" a jag. Part of owning a vehicle is adding your own personal stamp to it. Tricking out doesn't always mean wagon wheels with spinning hubs and/or porcelain shattering bass.

[Jazuela]

Haha that's exactly what came to mind when I saw the phrase "trick out," Tsa'ah! And black-out tints, gotta have the black-out tints. <eyeroll>

I have some ideas for little things I might do with the car to make it more "me." The shift knob, for example. It's that pretty burlwood to match the dash. But I'm not so sure I'm loving it. I might change that to something more elegant, less sporty. And it comes with foot rugs to match the beige carpeting; I will probly change those to the same dark green of the exterior for a touch of coordinating contrast.

One thing that I really loved about my first Explorer, was that it had molding strips outside the windows, that kept the rain from blasting in whenever I rolled the window down. If I can find those to fit this car, without it looking stupid, I'll probably add that too. I like keeping the window opened even in the coldest wettest winter weather, if only just a crack for fresh air. It's pretty uncomfortable when I can't do that because the water keeps splattering all over my face.

Other than that, I can't think of anything I'd want to change or add to it. I bought it because I like the way it is, not because I like the way I could change it.

[Parkbandit]

A 0% loan is always preferred over paying cash that can make you money otherwise. Imo.

You just need to be able to nail the 0%. She does not seem to be in that crowd.

My whole issue was it's not a practical car.. it's a risky (crappy jag) luxury purchase and a waste of money if you cannot afford it. If your being offered 8% rates you cannot afford it. Get something practical.. minivan or pickup truck.

LOL

You really believe there are such things as 0% loans?

Hey TheE, I have another visitor for you.

[Sean of the Thread]

LOL

You really believe there are such things as 0% loans?

Hey TheE, I have another visitor for you.

I dunno :shrug:

I've paid cash for all my vehicles rofl.

[Sean of the Thread]

Burger King doesn't pay enough to cover it. Good thing I don't have to work for a living. We're paying cash.



...

[Jazuela]

Right Sean. And if I *had* to work for a living, I certainly wouldn't be working at Burger King. I'd be back doing office work, with a liveable wage, benefits, pension, and all the other perks that come with the corporate life.

But - since I don't *have* to work for a living, and since I LIKE getting out of the house, socializing, keeping busy, and contributing to the household, I choose to work at Burger King. It's in walking distance, hubby likes the food and I get it at half price, the customers are awesome, and wearing a uniform means not getting fry grease and mayo stains on my own clothes. The money is a perk, as far as I'm concerned.

[Bobmuhthol]

lmao

[Celephais]

lmao

Yeah, sucks when people are happy with their lives, nothing worse than that.

[Bobmuhthol]

You have absolutely no idea what my post means. What does actually suck is when people try to infer messages and fail at it. :(

[Celephais]

You have absolutely no idea what my post means. What does actually suck is when people try to infer messages and fail at it. :(

I'm sure I'm not the only one who took it to mean you were laughing at Jaz for voluntarily working at BK, please, feel free to correct me in that respect, not my fault there were multiple interpretations to what you posted.

[Sean of the Thread]

Voluntarily working at BK sounds great to me especially if I was independently wealthy and didn't need to work. But hey whoppers are half price.

[Celephais]

Voluntarily working at BK sounds great to me.

No kidding... I'm jealous... apparently "Jaz rules!" She's got the car she's always wanted, she's working at a low/no responsibilty job, the life.

http://www.gonemovies.com/WWW/Raketnet/Drama/AmericanBeauty8.jpg

[Sean of the Thread]

He has some funky ass looking feet.

[Kranar]

You have absolutely no idea what my post means. What does actually suck is when people try to infer messages and fail at it.


There's a simple solution to that problem, it's called precision.

[Keller]

Sometimes I really miss longshot. I'd love to hear his thoughts on this thread.

oh ya, and is how I'd trick out my used "luxury" car (http://www.youtube.com/watch?v=ccgXjA2BLEY)

[Sean of the Thread]

WOOO WOOOOOOOO

[Jazuela]

Oh and I'm not wealthy. If I was wealthy, I would have the maid, the jacuzzi, the trips to Europe, and fuck a used 2003 X-type that fell in my lap while I was looking for a used Rav4. I'd have a brand new Rav4, AND a classic 1963 Jag XJ.

It's called living within one's means.

[Daniel]

Because nothing says living within ones means than a Jag.

[Jazuela]

Yeah, Daniel, especially when that Jag's sale price at the used car lot was $16,994, your trade-in was worth $5,000, you had a favorite relative die and leave you with enough to cover $10,000 without it coming out of your own pocket, leaving you with a whopping FIVE THOUSAND BUCKS including sales tax and warranty to deal with.

A used Jag for $5,000 is certainly living within my means, and if it isn't living within yours, you might look into working for Burger King. I hear they're hiring :)

[Daniel]

I'd pretty ridiculous to attempt to insult somebody by telling them to do what you already do.