Car Talk!

[The Real Bingo]

Quote:

Originally Posted by RedFury

Solo, you can definitely get a nice paint job rolling the paint on. I don't have the link handy, but there is an article about a guy that painted his Corvair Monza in his driveway, white with nothing but rollers and some elbow grease. A year later and the paint still looks awesome. You'll need to put about 5 coats on to get enough to wet sand to a smooth, shiny coat, but I painted the topper on my truck that way, and it turned out pretty good. I still have to wet sand it and buff it out, but I'll do that this spring. It's been holding up great so far though!

I'll be painting my boat the same way.

What type of paint do you use? The Crown Vic really needs a paint job, but there's no way in hell I'd spend a bunch of money to have it "professionally" done.

Did you sandblast off the old paint?

[RedFury]

Quote:

Originally Posted by The Real Bingo

What type of paint do you use? The Crown Vic really needs a paint job, but there's no way in hell I'd spend a bunch of money to have it "professionally" done.

Did you sandblast off the old paint?

Believe it or not, Rustoleum. Mine was topside Marine Rustoleum, but Rustoleum nontheless. I got it for 3 bucks a quart on discount at the local outdoor chain.

[Tekk]

Hey all -

I've got a couple questions about leasing vs buying. I understand the basics of between the two but Im wondering from a "credit report" perspective if it is a bad move.

I've heard some good things about a website known as LeaseCompare.com from a couple message boards. I checked it out and the lease quotes they are giving based upon the information I put in are pretty darn good. I mean for minimal amount down I can get payments at least $100 lower for a 36 month lease than I can get on a financed purchase at 72 months. And this is for an 18000 mile/year lease. This seems like a no brainer especially for someone like me since for the past 3 cars I've owned I didn't hold them longer than 2 years (yeah its a terrible obsession I know).

So adding up a couple factors for myself (fact that the payments would be cheaper with less money down, I typically get a different car every 3 years, I drive about 15-18k miles a year) it seems that a lease might be a little bit CHEAPER of an option for me.

What are your opinions about leases? My wife is very adamant about NOT having one (dont know why) but I might be able to convince her if its cost effective Any information ya'll can further provide is greatly appreciated. Thanks!

[RobRich]

Your wife is right IMO. If you want to research cost effectiveness, remember that you essentially build zero equity on a lease. Most cars depreciate rather fast, but any positive equity typically beats zero equity from a financial standpoint.

[Tekk]

Quote:

Originally Posted by RobRich

Your wife is right IMO. If you want to research cost effectiveness, remember that you essentially build zero equity on a lease. Most cars depreciate rather fast, but any positive equity typically beats zero equity from a financial standpoint.

True there is zero equity but depending upon how much you put down on a car even after three years it may have depreciated much more and thus you have negative equity even on a full finance. I guess thats the gamble you take right? Hell if it was worth that much at the end of the lease you could "theoretically" just buy the car outright at the end of the lease and then turn right around and sell it for the profit. A pain in the rear? Yes...but you'd still have the cash once sold

[RobRich]

Depends upon the model, purchase price, and financing option. Lots of variable there.

What I am saying is if you can gain any appreciable equity, I would seriously consider that route versus a standard lease. If you are buying a model that depreciates well into negative equity within the estimated ownership period, then yeah, that does not make much sense from a financial standpoint either.

Summation? New cars are typically poor financial investments.

[RobRich]

BTW, I am more inclined to let someone else take the initial depreciation on a vehicle. For example, I purchased my Maxx in practically new condition with low mileage for near wholesale pricing. It is a 2005 model, but it is still worth almost as much as I paid for it over two years ago.

Conversely, I could have just as easily purchased a brand new Maxx, but it probably would have depreciated around $10,000 over the same period of time. What is the point, other than maybe the excitement of driving a new car off the dealer lot? It is an used car the minute you complete the purchase agreement anyway.

[SoloCamo]

I think I'm going to pickup another bottle of SeaFoam and do another treatment through the intake, then shortly after change the plugs with some Champion Coppers again.

Marvel Mystery Oil has done a good job (or so it seems) for my fuel injectors so far, so I will continue to use that at every fill up.

[RedFury]

used=experienced I drive experienced cars only.

Here's my thought on a lease though....if you are the type who buys new cars, but likes to switch out often, then a lease is great. You get rid of it before the tires wear out ( normally ), you get rid of it before brakes need to be done ( normally )....the maintenance costs are almost zilch short of changing fluids or the random light bulb that goes out. If you are maintaining a car payment over 6 years, then 3 cars with 2 year leases is about the same thing, and in the end, you have a car that is 4 years newer than the one you were going to pay on. To each his own though. Personally I'd never lease a car for myself because I like to personalize my cars too much...with a lease, you have to put it back to factory which is just more work than I want to put into it.

[Tekk]

Yeah there are many pros/cons. I have, in the past, bought used cars but for the ones Im shopping for I have a bit of trouble finding used ones. Well actually its really just the Audi S5 thats pretty much non-existent on the used market. I was also looking at an RS4 which right now is a pretty nice buy. I ALMOST pulled the trigger on one that was barely used for almost 20k off its original purchase price but unfortunately I have some prior obligations for my landscaping that prevents me from dropping too much money on something else

It is a reallllly great market though for used cars right now. I should wait a bit and see whats going on.