Buying a Used Lexus.......

[sonnic]

You always see people my age (22) driving around cheaper fast cars. Either that or they have some rust bucket. I could buy a 97 mitsubishi Exlipse w/ 50k and load it up for under 10k and most people know that. But most people don't know or realize they could buy a 93 Lexus SC300 with 90k for less than 10k and look like I spent 20k on it. I am wondering why more people my age don't buy a little older luxury cars. Actually the car im talking about is a lux/sports car. Its SC 300 comes standard with an inline v6 (same as the supra) manual optional, so its fast yet it rides like your on a cloud so you have the luxury and the leather.

I am thinking of buying one right now and i think it is a great idea to do so. I get an absolutly beautiful car That most people think is unatainable with relitivly low miles for under 10 grand. Who wouldn't want to drive around a lexus???????? or a BMW???????? or a Caddy?????

Am i crazy or am i smart??? I dunno you decide......Opinions please!

[DZ314]

I always favored the 95-97 BMW M3's. They are much more than 10k but they are a lot more performance than the SC300. BTW, that inline-6 in the SC300 is the same as the Supra but it is not twin turbocharged like the top-end Supra unfortunately. It is still a good motor with a lot of potential though. I would definately go with your plan though, a little older car that is nicer.

[Deb]

I just purchased a 96 Chevy Cavilar Z26 for $800 (it has some problems ..nothing than an extra $100 can't fix). The body is in EXCELLENT shape, and the interior is GREAT..no burns or any cracked panel. I agree with purchasing an older car instead of going for the newer models.

Currently I drive a 91 Ford Ranger XLT pick up and it has not given me any problems and it only has 107,000 miles. I'm the 2nd owner of the pick up truck. Some people have urged me to turn it in and get a newer one or better one. Why? It gets me to work and back and the body's in great shape (with some few understandable rust above the wheels) and it also helps me w/ transporting few bulk items like a quad, or a motorcycle or even firewood for one of these infamous bon fire party.

Sometime if you look around and shop around...you will come across few rare cars/trucks that would normally sell cheaper than you think.

By the way I'm 28 yrs old and I've owned junk cars/trucks, new car/truck, leased and etc.

Best buy is what you think is valued to you and you will be happy and content with driving it for whatever purpose you are purchasing it for.

:)

[skor]

I would rather spend 32k and get one of those:
http://www.subaru.com/servlet/research?model=IMPREZA&trim=WRX_STI_SEDAN&command=photos

of course you can get a used one for less and it will still beat the other two, this car has won many rallys in the last couple of years

[sonnic]

not all supra's are twin turbos and I didn't say that they were as good as the supra's only that they have the Supra engine.

http://www.ecarmarketing.com/92sc300/index.html

Just an example and this car is a little on the cheaper side of what i was thinking of but still this car is only being sold for 5500 Asking price. Come on you cant go wrong. just search cars.com or autotrader to see what im talking about.

By the way if i would rather have any of these cars (link below)but I am talking about young adults, why spend 10K or more for something that is cheap when you can invest in the quality of Lexus or BMW or anyother reputable dealer.
http://www.ecarmarketing.com/nice.htm :twisted: :twisted: :twisted:

[DZ314]

"BTW, that inline-6 in the SC300 is the same as the Supra but it is not twin turbocharged like the top-end Supra unfortunately."

The top-end Supras are turbo, I said that.

[audiopro]

I'll stick with my Lotus Esprit Turbo...

Um err... I meant Nissan Altima.. :)

[sonnic]

Let me try and steer this back to my point. If i had 10K to buy a car with why not go for a higher class more solid but older one instead of a newer cheaper and less desireable? Basicly it gets down to this would you rather buy a early 90's LEXUS or a Later 90's Civic? that is the question...... I personally would be prouder to say i have a 93 lexus than a 98 Civic. How about you?

[audiopro]

Honestly sonnic I think that depends on your personal tastes... Why would you wear a red shirt when you can buy a white one for half the money? Maybe because you like the looks, feel, etc. of the red shirt.

There is a reason there are so many makes, models, colors, features available in vehicles. Because we all have our own desires, requirments, and opinions on cars...

[skor]

one of the reasons that people prefer a late model car rather then an older car is because older car lose their value quicker then new car, and when it comes to that time that you want to sell your car then you will lose more money on an older car.
another point is that there is that superstition that older car break down more often.

[dags_lax]

Sonnic: in your other postings you tout the value of investing and returns over the long hall and you are absolutely right. But now you are talking about a $10K auto, you went on a trip to Cancun, yet you have said you could not afford $500 for a Schon cue. A cue which will hold a good chunk of it’s and last a lifetime which is more than you can say for almost any car. I hope I am not sounding to harsh and maybe the reason a $500 cue is too steep is because you are socking away a good chunk of your income.


Here are my thoughts on cars. Never, and I repeat, never finance luxuries. If you have to finance, get a less expensive car. Remember all a car needs to do is get you from one place to another reliably. That can be had for a lot less than $10K. . Anything more than that constitutes a luxury. Even at the tender young age of 22 if you have the cash to drop $10K on a car it is still not the best place to put for your money.

There is a very good book called The Millionaire Next Door. As the book points out, one thing self made millionaires have in common is that they didn’t spend more on themselves than they had to (cars, housing, trips, and probably pool cues for that mater). They struggled to acquire their fortunes and yet for the most part they still don’t live like millionaires.

[DEATHTRON]

Most people your age want fast cars, thats why you see young owners in the camaro's and firebirds with ls1's and lt1's.

My dad has a view on cars, dont spend money on a nice one, they all break downn eventually, as long as they get the job done for a good amount of time he doesnt care. When i was younger and would always get dropped off at school i wish my dad would be driving a nicer car than his hyundai. And up until highschool i thought my family made practically nothing, all the other kids had nicer cars than me, until i saw their houses, my parents house is 5,500 sq. ft. worth over a million.

Zach

[skor]

Dags, I agree with you 100% and although this is a "billiard fricks forum", you'll have to admit that a $1000 cue is luxurie just as well, when it comes to cues, once you pass the $400 you pay for luxurie.
In the old days, inlays were put in to balance the cue, nowdays inlays are for showing off.

[audiopro]

I definitely agree though about not financing such luxuries. So far in my lifetime I have financed 1 car, and 1 house. That is all.. Anything else I bought cash, or saved my pennies to make a big purchase. And believe me, I am not rich by any means. Yes I just bought a cue for 2k, but not a cent of it was financed. Instead I curbed my spending on some other things for a time to budget in such a purchase because I valued having the cue over other such items.

I am not much different than anyone else. When I was 18-23 years old, I spent all my money on my car. I wanted it to be fast, look good, and blow the doors off with music. Now I just want to get from one point to another, not break down or worry about breaking down. I want to be able to pull into traffic quickly if need be, and I want to be able to audibly hear my local talk radio shows.

Now most of my money goes into other investments. Typically my house, retirement, and my family. My how things change.. :)

[dags_lax]

I agree that an expensive cue is a luxury. And the only payment I have made on a cue cue is when the master card bill comes due and then I pay in full. The same goes for cars. My wife gets the itch for a new car every three or four years and we pay cash. That hasn't always been the case for us though. We have had to finance cars but we went basic and inexpensive, not new. Me, I have a small, very basic, pickup that I bought new eight years ago and will probably have for another eight years.

[sonnic]

:oops: :oops: :oops: :x well than....

Let me first say that i never said i was going to spend 10 Grand on a car EVER. I stated it purely as a hypothetical.

Second to dags, Never finance your luxuries... I agree totally but yet you said you pay for your 500 dollar cue with the mastercard...Why? for me their are several reasons why i would do this the most important being that i am tring to buid my credit and not because i didn't have the money. I hardly finance anything ever!

And yes dags i do strongly believe in as you call it, "the value of investing and returns over the long hall. and i am constantly applying that to daily life. I don't make a ton of money so i can't really afford a trip to cancun and a new cue or any other 1000 dollar expense. So when i spend that money i have set away (By the way i pay cash for all trips i take) after the trip is over though I cannot afford to buy a new $500 cue. I believe you when you dont finance luxuries its true but Remeber LIFE IS SHORT and you only live once. So dam straight i believe everyone should invest 10+% of their income into some sort of retirement vehicle but after that is done and I have some extra cash i will spend my money on a nicer car or instead of paying $400 bucks for a accetable cue you buy the $700 one instead. I NEVER SAID TAKE A LOAN OUT TO FINANCE LUXURIES!!!!!!!

audiopro, i disagree somewhat with your red shirt white shirt deal. Most kids want the civic cause other kids have them and they think they are affordable and obtainable. When at the same time when they see an awsome lexus or bmw drive by they wish they could have one but can't afford it. Well i am tring to make a case for the fact they can buy the lexus and it costs the same as the civic they are looking at. The whole purpose of this post was to talk about why kids or people for that matter don't buy used luxury cars instead of the low end honda's or whatever. They cost the same but people prefer the less quality which i think is a bad idea.

Skor, I am not an expert but i don't agree about older cars depreciating faster than newer ones infact i believe the opposite. look at a new car, once you drive it off the lot you lose 5 grand at least. If i buy a car with 100k on it and rust everywhere for 1500 bucks and wait 5 years it will still be worth very close to 1500 bucks even though it has 150K now. I guess audiopro is right though it does come down to what you like or priorities. Hey if dags is satisfied driving a 10 year old truck around that will go another 10 more that is great to me i like to have a nice car within reason of course. but as long as i continue to save and invest i know i will be fine. I don't want to make light of buying a car you don't need, cuase it is my biggest expense and if something major happens to it, I can be drained financially. Right now i have a 95 Honda accord that I am currently selling for under 4K and with that money i will try and buy a car that is worth 5-6K witch could be a lexus not sure.

[audiopro]

Red shirt white shirt was only one example that drives their desires. You bring up another valid one, because their friends have them and they want one. However, you will be hard pressed to find a comparable BMW in the same price range. I've worked in many fields of the automotive industry and regardless of what you may think, a Honda, Toyo, Nissan, is more affordable than a BMW of the same condition.

By the way, a brand new Eclipse does not cost 50k. Buy one a few years older and you can grab one for about 4k, I know.. I owned one..

Additionally, a car with 90k miles on it, is right at it's marker for starting to need heavy maintenance. CV joints, Transmission, Engine Mounts, typically. This will result in usually another 2-3k of expenses.

Now then, it's not to say owning an older Lexus or the like is a bad idea.. As with most things in life, you must weigh the pros and cons that are unique to your needs and options.

[DZ314]

I have owned my Civic for 4 years and not had one bit of unexpected maintantence on it. It had 84k miles on it when I bought it.

[dags_lax]

Sorry if I misunderstood Sonnic. I thought you were trying to get members of the forum to justify a purchase of a $10K car. I gave you the same lecture that my dad gave me and and I ended up giving to my children. I believe it was good advice for me back then and was good advice for my children and is still good advice now for anyone willing to listen.

As for a newer Honda or a older Lexus it's just a mater of personal taste. For me it's a 40 year old Mustang.

[audiopro]

So dags, when do you retire the pickup and get yourself that Stang? Awesome choice by the way!

[dags_lax]

I used to have one (67 coupe, 289 ci v8, 3sp manual, medium blue). Of course back then they could be had dirt cheap. When I go to my sisters winter home in Arizona I look in the want ads. I am always threatning my wife and who knows, maybe some day maybe some day I'll get a serious bug up my ass and get one. After all a man needs to dream about his youth and what could be accomplished in those small back seats. :D As for retiring my little toy truck I don't think it will happen. I need something to haul grass clipping to the yard waste recycling center.

[DEATHTRON]

40 year old mustangs, fun cars! Mines getting a new carb and water pump as we speak.

Zach