those of you with expensive cars

[Missy29]

I have a Chevy traverse that I love. We always end up with big cars because dh is 6'7" and he doesn't fit in most cars. This time we ended up with a dealer car that had around 500 miles and we qualified for zero interest. It's just another factor in our budget. But since we take in foster kids we can go from one kid to four in a couple hours so the flexibility is nice.

We have a Traverse also and we love it! So much room, third row seating with the option to fold it down which gives tons of room. We pay $356 a month, but we are leasing, I love getting a new car every 3 years.

 

[Jessica527]

We have a Chevy Corvette but put down at large downpayment, our payment is only $250 a month because of that for 4 years. I would look into a mini van as well, that is a great option.

 

[Katy Belle]

no one is offering advice everyone is telling me to buy something i don't want that is just as expensive as what i do want, so how does that answer my question of how do those of you with an expensive car afford it.

if i have to have a higher car payment i will, but im looking to see if there is some out of the box idea's on affording an expensive car without a huge payment that im missing

We bought a new Expedition last year. We paid cash. We do not buy anything unless we are sure we can afford it, even if we "need" it.

 

[stitchlovestink]

Volvos are just getting broken in at the 150K mile mark. If you have an XC90, let me know when you're ready to sell it and we'll take it off of your hands.

-Astrid

Oh my gosh...
I would never buy a volvo After watching my sister's. The first one wasn't as bad (bought used), but I still think the repair bills were high!!! The second one (bought new!) has been Crazy!!! The stuff That she has had to have fixed & the costs!!! The a/c went up at 100K! The window mechanism broke at around 70K! She has 1 son away at college who doesn't even drive AT All. I mean At all. He got his permit & drove once or twice then a friend was killed while learning to drive And that
did him in. Anyway.... Regarding a Volvo, NEVER in my book! Hers doesn't have 150000 yet! But to each his/her own!

 

[bumbershoot]

This got buried. It should be brought up to the top, because the OP's whole premise is based on something that's not true.

I didn't read the whole thread, but you are misinformed. From the NYS DMV:

It is not illegal under NYS law for a child passenger to ride in the front seat of a vehicle that has a passenger air bag, but it is dangerous.

It is not illegal, but still not a good idea.

http://www.dmv.ny.gov/occupant.htm

I mean, all you really have to do is realize that a family with one small pickup truck does, indeed, get to transport their child in it, and you realize that forbidding children from being in front isn't something that could ALWAYS be a flat-out rule.

... ~ less space in back for stroller, groceries, etc ~ ...

That's a really good point. My sister in law has a Durango with a 3rd row, and you can fit a few grocery bags back there when the 3rd row is up. Definitely NOT the car for a big family with baby gear, etc etc.

So i was wondering how those of you with more expensive cars afford the monthly payments? Do you finance for longer? huge down payment? or just have a huge car payment?

i'm from the camp of pay it off in 4 years and be done, and currently have a $450 car payment for my CRV which we will hopefully be paying off with my husband's stock buyout from his old company and our tax return so i can keep it. we don't have any money to put down this time either so i can't do that to lower my payment

The answer to how people do it is as varied as there are people. Your car payment would have been impossible to us. To my brother, I think it's probably a drop in the bucket for his total car payments (I think they still have a loan on his wife's Mercedes, and you don't even want to know the car they bought when her partnership with a top law firm was finalized).

In your shoes, I would NOT pay off the CRV with that money, and instead would use it as a down payment on the new car.

I'm guessing that's in the middle of the state, since that's certainly not true in this neck of WI.

To me, a foreclosure that's 20K is likely trashed inside...I'd be afraid to even look inside!

Our insurance stayed the same when we bought our Traverse.

It all depends on what you had, what you're getting, and where you live. Always a good idea to call your insurance agent and tell them what you're thinking of buying, so they can see the insurance difference, if any.

i dont really care if im a mini van driver in denial....at least im not rude and leave helpless people on the side of the road. maybe they couldn't AFFORD new tires, way to be judgemental.

A person who drives on bald tires because they can't afford them needs to put away the car keys and figure another way to get around. If you can't afford the tire replacement by the time they are bald, you can't afford the car!

All large SUV's with an accessible 3rd row that will work with 3 children in car seats are not only way out of our price range (unless I buy a brand that I'm uncomfortable with), but the gas mileage is horrible compared to minivans.

Also a good point.



I despise the look of minivans. They just make me think "ew". And then...I sat in one. And fell in love. With the inside. The outside is still bleah to me, but I'm not looking at it from the outside while driving it! I'd totally look at minivans if I had the need; now that the Kia Rondo isn't made anymore (it would have been our 3rd row vehicle back when we really thought we'd need one). If you've never sat in one, I'd recommend...you never know how you'll feel. I'd have laughed for hours if someone had told me I'd like the driving-part of the minivan.



Now...what might end up as a useful offshoot here would be if you told us the ages etc of the kids! I'm sure there would be people who could help you MORE specifically (though you'll have to deal with the fact that many people do feel that the dreaded minivan is going to be better in many ways than an SUV) with ages etc. From your first post and signature, I can't even tell if Madilyn is an unborn baby at this point, or a 10 year old you're adopting...let alone the rest of your family. More info could lead to a good discussion that might lead to more help for you.

 

[bumbershoot]

Oh my gosh...
I would never buy a volvo After watching my sister's. The first one wasn't as bad (bought used), but I still think the repair bills were high!!! The second one (bought new!) has been Crazy!!! The stuff That she has had to have fixed & the costs!!! The a/c went up at 100K! The window mechanism broke at around 70K! She has 1 son away at college who doesn't even drive AT All. I mean At all. He got his permit & drove once or twice then a friend was killed while learning to drive And that
did him in. Anyway.... Regarding a Volvo, NEVER in my book! Hers doesn't have 150000 yet! But to each his/her own!

Wow, that's definitely (in my experience and knowledge) NOT the norm for a Volvo. They are generally known as cars that will continue forever and ever.

But every so often, Lemon cars are made. Have they ever looked at their state's Lemon laws? Might be too late now, but it might have been worth looking at.

 

[Natalie's Mommy]

Now...what might end up as a useful offshoot here would be if you told us the ages etc of the kids! I'm sure there would be people who could help you MORE specifically (though you'll have to deal with the fact that many people do feel that the dreaded minivan is going to be better in many ways than an SUV) with ages etc. From your first post and signature, I can't even tell if Madilyn is an unborn baby at this point, or a 10 year old you're adopting...let alone the rest of your family. More info could lead to a good discussion that might lead to more help for you.

my girls will be 7, 5, 2 1/2 and a newborn. i only have the youngest two about half the time

 

[luvmy2sams]

We bought a new Expedition last year. We paid cash. We do not buy anything unless we are sure we can afford it, even if we "need" it.

We bought a new Pilot last May and paid cash. We budget a specific amount each month and store it away until we have the cash on hand to buy the vehicle we want.

 

[Bell30012]

As has been pointed out, it is not illegal for a child to be in the front seat in New York. If you have ever seen an airbag actually deploy, a child properly belted in should not hit that airbag. A rear facing child seat should never be in the front seat.

Many vehicles now have airbags in the center and back of vehicles. My 2011 Toyota Prius has 7 airbags!!! I don't care where you are in the car... there's going to be some deploying around you.

Back to the OP's question... Psst, buy used. My other vehicle is a 2003 Lincoln Navigator. Back when it had a payment it was around $300 a month. I often have people ask why a single father of one child needs a 7 passenger SUV... People think that my Prius and Navigator are at odds with each other... Those people just haven't hauled a gaggle of 9-year-old girls to a movie theater, mall or skating rink.

Mini-van? Oh heck no.

 

[Swan4Me]

How do you afford the payments??

Stop having so many kids?
edited-Ok it seems the youngest 2 are your "part time kids?" Not sure what that is about



We always put a few thousand down to lower our car payments

 

[Southernmiss]

When we had 2 children and were expecting #3 we went looking for SUVs, but after seeing the price and knowing what we could comfortably afford, I succombed to the V A N.

Once I drove a V A N I loved it. Easy to drive, good visibility and lots of room to put kids in and all their gear.

We, though, are practical before fashionable. I would rather be able to afford something practical than not afford something just because I didn't like the alternative. We are not car payment kind of people. If we can't buy it without a payment, we don't need it. We sacrifice and save and drive it until the wheels fall off to be able to afford our cars.

 

[jedijill]

I have a fully loaded 2011 BMW Z4 convertible hardtop, put $12,000 down and the monthly payments are $950. We have no other debt, I've saved enough for a retirement I'm probably not going to live to use, I make a generous salary, my company compensates me for my car expenses, I've got a terminal illness and dang it, I wanted this car.

Where is the "like" button on the Dis?!!?! You go Pakey! Too bad you have the terminal illness but you enjoy that car as long as you can...you earned it!

I have a paid off Jeep with 90K and I will drive it as long as I can. I bought a 1966 Mustang convertible 2 years ago and learned how to repair myself. Now it runs and is my fun, project car! My attitude has completely changed about new cars and car payments...I don't want one! Sure, I would love a brand new BMW M5 but until I hit the lottery and can pay cash I'm not getting one. I'm going to putter around with the Mustang and keep the Jeep going as long as I can. When it comes time to replace the Jeep, I will buy a used vehicle with cash.

Jill in CO

 

[Marionnette]

I wanted a Nissan GT-R. We couldn't afford an $80K+ car right now. I settled for the 370Z with alloy wheels. Sometimes you just have to accept what you can afford.

 

[stitchlovestink]

Wow, that's definitely (in my experience and knowledge) NOT the norm for a Volvo. They are generally known as cars that will continue forever and ever.

But every so often, Lemon cars are made. Have they ever looked at their state's Lemon laws? Might be too late now, but it might have been worth looking at.

Yes, BIL is a master Diesel mechanic with 30+ years experience. Problem is he doesn't usually have the time to work on my sister's car because of working 60+ hours at work & he can't do it in their neighborhood because of the HOA. They live in a Very Nice neighborhood! One set of neighbors were disgusted to find out that a mechanic could afford to buy in the neighborhood! they own several other vehicles and don't have problems with either Jeep or their Expedition or Ford truck like they do That Volvo! LOL!

 

[hockeymomNS]

Big SUV = big gas bills as well

Hub has a company SUV and I'm glad that they pay for the gas. Mom here drives her mini van and enjoys putting a little over half of what his vehicle costs in gas.

Unfortunately without a big down payment, you have large monthly payments, if you want a pricier vehicle.

 

[RooRach0906]

When I was having our daughter I was watching kids from my home and would not give up my suv but needed a bigger SUV we looked for a used Chevy Trailblazer Ext or GMC Envoy XL with 4WD. I was so glad I did gas wasnt much more and neither was our payment but we did do 5 years. Maybe look for those. I completely understand the no minivan as we are the same way. Hope this helps and you find one.

Wished we lived closer we just traded ours in as our needs have changed but it was a 05 but still had a ton of life left only 60,000 miles on it.

 

[ToodlesRN]

We bought a brand new 2008 Chevy Tahoe and to answer your question on how do we afford it, well my husband works full-time and pays all the bills and I work part-time paying my car payment, DVC and our son private school tuition plus our trips I book. I budget it to a tee and work extra shifts (mostly our trip money). Looking forward on being car loan free as it is a big chunk of my paycheck, looking forward on using that extra $$$ on my Disney habit

 

[NotUrsula]

You also might want to try thinking outside the box a bit.

My Dad was a coachmaker, and it's one of those little-known things that most cars/vans that have a cargo bay can accomodate an additional smaller seat row. There are many custom coach shops that can do this for you for a fraction of what a new vehicle would cost you, especially since two of these kids apparently only live with you part-time? When properly built and installed, aftermarket seats will meet all the same standards as the original seats (although they won't have dedicated airbags, but airbags are not a great idea for kids in carseats anyway.)

As the most convenient example: littleseats.com can sell you a matched third-row seat for a CRV, complete with mounts and shoulder belts for under $1100. You can install it yourself if you know cars, or have a body shop do it for you. (Dealers will NOT do it, because they have issues with creating a non-standard trim level.)

Add a hitch connector and a cargo box at the same time for when the seats are in use, and you'll still have enough space for your groceries.

Or, if you REALLY want a new 7 passenger car, you can consider a Mazda RX-9 or a Hyundai Veracruz; both of them have an MSRP of under $29K and are very nice vehicles.

 

[momxx5]

Okay, trying to keep up.....

You are wanting a new SUV to drive the children in comfortably.

You have 2 children full time and 2 small children half the time?? How does that work? The dynamics are hard to figure.....are the two young ones your children with shared custody or your DH's children that he gets???

So, I would really rethink the whole expensive vehicle, especially since we are talking about a part-time need with a full time expense.

This reminds meof the family up the street that found out that they were having a surprise (oops pregnancy) baby so that meant they needed a new, bigger home. Of course they would have been totally fine where they were, especially for the first few years. But NO they "needed" a bigger home. So they built that bigger house in a lot on same street, could not sell first house ~ had to rent it~, finally sold with everything fine UNTIL the dad lost his job....things just did not end like they planned.

We were a family, with 4 kids, born within 4 1/2 yrs...lived in a small 3bedroom, 2 bath, 1100 sq ft home. We survived.
Finally we saved and looked carefully and were able to purchase larger home in good school district(reason for moving) and then had our "bonus" baby = 5 children.
The whole time driving a van and loving it.

To me (never really a big fan of SUVs).....SUVs are just the modern day version of the older days station wagon....only jacked up higher off ground. I bet most SUV drivers would never drive a station wagon. LOL!!!

So, while planning on affording the newer vehicle today, keep in mind what changes could happen in the future....further affecting how expensive something really is.

Again, good luck.

 

[Pea-n-Me]

How we afford expensive cars is to let others buy them new, drive them for a little while and take the major hit in depreciation. Then we come in

This is how we do it as well.

I would decide on the vehicle that you want to buy, the options, age and mileage and price you can live with and then keep looking for something used that meets your criteria and be prepared to jump on it as soon as you see it.

Last time I bought I had a very specific vehicle and features in mind. It took a little while and a lot of searching but I finally found it about an hour away using the Advanced Search on automart.com (remember Auto Mart the book like the Want Ads, it's now online). It was a year and a half old, looked, felt and even smelled new, had just under 10K miles on it, and through a series of fortunate events I wound up paying less than half the cost of the original sticker price (which we found in the glovebox).

Good luck with your search if that's what you decide to do!