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Author Topic: Daughters First Car, serious question  (Read 6056 times)

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Offline Rollingrock

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Daughters First Car, serious question
« on: December 06, 2018, 11:43:03 PM »
Ok, need some input. 

First, our daughter will be able to drive by weeks end via Permit.   She is 15.

Our plan was to use the next 10 months to give her some experience driving, albeiet she has been driving by herself in the golf cart for over a year to and from the barn to take care of her house in the neighborhood.

We were going to look at buying a car for her next year but a friend and former neighbor is selling his commuter car.   It is a 2013 Mercedes C250, only 58,000 miles.  He wants 14K but told me I could take it for 12.5.    Question is, should we buy this car now at 12.5 and hold it for a year and drive it a couple days a week for parent taught drivers ed then give it to our daughter when she turns 16 as a first car or do we pass on this deal and buy her a crossover Honda CRV, Toyota Rav 4 type car next year for basically the same price but with higher miles? 

My car guy says this would be a good deal given the low mileage of the mercedes and that we could flip the car for cash roughly the same price for the next 2 years and possibly make 500-1000 on it for a trade or sell. 

Discuss.   

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Offline Kitzy

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Re: Daughters First Car, serious question
« Reply #1 on: December 07, 2018, 08:08:58 AM »
Ok, need some input. 

First, our daughter will be able to drive by weeks end via Permit.   She is 15.

Our plan was to use the next 10 months to give her some experience driving, albeiet she has been driving by herself in the golf cart for over a year to and from the barn to take care of her house in the neighborhood.

We were going to look at buying a car for her next year but a friend and former neighbor is selling his commuter car.   It is a 2013 Mercedes C250, only 58,000 miles.  He wants 14K but told me I could take it for 12.5.    Question is, should we buy this car now at 12.5 and hold it for a year and drive it a couple days a week for parent taught drivers ed then give it to our daughter when she turns 16 as a first car or do we pass on this deal and buy her a crossover Honda CRV, Toyota Rav 4 type car next year for basically the same price but with higher miles? 

My car guy says this would be a good deal given the low mileage of the mercedes and that we could flip the car for cash roughly the same price for the next 2 years and possibly make 500-1000 on it for a trade or sell. 

Discuss.
We can get serious after the first paragraph where you inform us that your daughter has her own house in your neighborhood.  Damn rich people.

Its ok.  I'm the king of typos but mine are usually incoherent.

On a serious note.  I know you've tied up some money lately.  I don't really see much of a point to spending some more on a car that isn't going to be driven by your daughter by herself right now.  She won't be borrowing your truck and leaving you without a ride.  She can learn on the truck and the Acura in the meantime.  Unless you feel confident that you can flip the car for the same or a little more, making it an investment, I'd say pass.  No one needs to learn to drive on their future car. 

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Offline sscully

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Re: Daughters First Car, serious question
« Reply #2 on: December 07, 2018, 09:45:54 AM »
I have to ask the burn rate question.

What is insurance on a Mercedes C250 going to cost for a 16 year old ?
- I would imagine it is more ARC than a 2010'ish Honda CRV or Rav 4.

The flip the car for roughly the same price, well that is unless she tangles with a mailbox or cow.
- She is your offspring and that runs in the genes  :redneck:

Seriously, what did you do to your 1st car ? 
Heck what did you do to your last F150 the short amount of time you had it.  Things happen and you paid for that somewhere in the transaction.

Trade in, you are not going to get 12.5K today in excellent condition for that vehicle unless you are paying close to list for something.

As for good deal, with a quick search I found a C250 Sport at a dealer in Arlington, TX for 12.9K list with 9K more miles on it.  Private sale should be lower not higher.

Have ( are ?) you going to have a conversation about cost sharing on the vehicle for maint & insurance ?
- Want to see a huge repair bill, try fixing a MB even at a private garage.  The parts are an arm & a leg.

Think of it as the vehicle she is going to have until college. Don't use your vehicle ownership flip record as an indicator of what you might do in 2 years.
- I'm still on my 2nd truck since joining here, and the 1st one was 6 years old when I signed up.
Think of going and picking up something for the horse.  Better to do this in a 2013 MB C250 or in a 2010 Toyota Rav 4 ?

You have nothing but time to think through this, don't jump on the 1st thing that shows up.
She won't have her license for 10 more months, and does she really need a vehicle the day she comes back from the DMV with a fresh license ?
Put the 12K in a 12 month CD so you won't spend it.  If it is not a cash tranaction, why pay the juice on a 3rd car you don't need for a year.
Steve

Offline Rollingrock

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Re: Daughters First Car, serious question
« Reply #3 on: December 07, 2018, 10:05:34 AM »
Ok, need some input. 

First, our daughter will be able to drive by weeks end via Permit.   She is 15.

Our plan was to use the next 10 months to give her some experience driving, albeiet she has been driving by herself in the golf cart for over a year to and from the barn to take care of her house in the neighborhood.

We were going to look at buying a car for her next year but a friend and former neighbor is selling his commuter car.   It is a 2013 Mercedes C250, only 58,000 miles.  He wants 14K but told me I could take it for 12.5.    Question is, should we buy this car now at 12.5 and hold it for a year and drive it a couple days a week for parent taught drivers ed then give it to our daughter when she turns 16 as a first car or do we pass on this deal and buy her a crossover Honda CRV, Toyota Rav 4 type car next year for basically the same price but with higher miles? 

My car guy says this would be a good deal given the low mileage of the mercedes and that we could flip the car for cash roughly the same price for the next 2 years and possibly make 500-1000 on it for a trade or sell. 

Discuss.
We can get serious after the first paragraph where you inform us that your daughter has her own house in your neighborhood.  Damn rich people.

Its ok.  I'm the king of typos but mine are usually incoherent.

On a serious note.  I know you've tied up some money lately.  I don't really see much of a point to spending some more on a car that isn't going to be driven by your daughter by herself right now.  She won't be borrowing your truck and leaving you without a ride.  She can learn on the truck and the Acura in the meantime.  Unless you feel confident that you can flip the car for the same or a little more, making it an investment, I'd say pass.  No one needs to learn to drive on their future car. 

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hmmm...good points.  just to be clear, it's not like we have this bucket of cash sitting here to be used...we have to budget for a third car and have till Oct of next year till she is 16.  The car I had my eye on was the Subaru CrossTrek, somehow in the past 5 months they have gone up in value and no longer a car of reasonable pricing.   They are now out of our budget. 

If we were to buy this car we would have taken the cash from our line of credit then paid it back monthly...buying the F250 wasn't in our plan, it threw us for a loop and costs us out the ass to have, we've had to make some adjustments in other places to have it.   it sucks b.c my F150 was cheap to have monthly b/c of all the equity I had from the jeep in it but trading it after 1 year really hurt the amount of equity I had....like in half so we lost some on the trade.   Robbed Peter to pay Paul.   Then Paul turned around and robbed us again.   That bastard. 

I think we are going to pass on it for a whole other reason.   We've managed to raise a good kid and she was actually embarrassed when we talked about it   I don't blame her, I wouldn't want to be that kid either, I told her that I have seen their parking lot at high school and there very nice cars in the lot that are not driven by teachers.   Still, if anyone knew what the cost of the car was, they wouldn't be as judgmental. It's the optics of the mercedes that makes it look bad, I get it. 

She wants a "normal" car and doesn't want to draw any unwanted attention to herself, when we had this talk yesterday she kind of smirked when we showed it to her as a possibility, I could tell she loved the car.   

I am torn, hate to walk from a good deal and know that in 10 months for the same price we are going to be looking at 75-85K miles Honda's and Toyotas that will be beat on for the same pricing.   

ugh.   
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Offline Kitzy

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Re: Daughters First Car, serious question
« Reply #4 on: December 07, 2018, 10:05:56 AM »
The repair bills are something I didn't think of.  Insurance as well.  Insurance is a must.  As for repairs, you have to be prepared for them just in case.  Cassie's sister has a BMW X5 and everything on it is ridiculous.  They broke the driver seat plastic, near the seat adjustments, and the dealership wanted an amount in the thousands to fix it.  The brakes have a sensor that needs to be replaced if you allow the brake pads to go low enough to trip the sensor.  I never base decisions on "what if I get in an accident." But the little things that can happen that are self inflicted or just general maintenance are always considerations.  With the insurance, I just wouldnt want to pay it on a vehicle that's not necessarily needed in the first place.  That's money you will never get back no matter what.

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Offline Kitzy

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Re: Daughters First Car, serious question
« Reply #5 on: December 07, 2018, 10:32:17 AM »
I just saw a meme on Facebook that said "don't text me while I'm texting you.  Now I have to rewrite my text." Don't reply while I'm replying...  Haha

That's a damn good kid.  I mentioned recently that Cassie bought the 16 Outback 3.6R (which she LOVES btw) but walking around the dealer I was taken back by the Crosstrek.  The new ones have come a long way (still no power though) but they're more expensive than even the Foresters.  I don't understand it.  They're $30k+.  That's crazy.  I think Subarus marketing is improving.  And it's geared more towards the everyday commuter that can double as a go anywhere vehicle and that's where the Crosstrek shines.  Even for it's lack of power it's plenty roomy, great ground clearance and AWD, and loads of accessories.  Very convenient cars.

I wouldn't worry a out a Honda or Toyota with even 100k on the clock.  They are great cars.  Not my cup of tea but that's just me.  There's nothing wrong with them.  I also have a feeling whatever she gets, she isnt going to beat on, at least not like your average kid her age. 

We had a guy working for us this summer who was entering his senior year of college at Penn State (electrical engineer, smart kid.)  He drove a 200? Civic.  The side had some damage to it that I'd always pick on him about.  He said it happened just by parking in the high school parking lot.  I'd rather have my honda or Toyota get dinged up by a-holes than my Mercedes. 

For what it's worth, I think if it was me, I'd find a middle ground in the situation.  I wouldn't want to pay for a car that wasnt necessary right now even if I could afford it.  I think I'd find what it's cost me roughly per month with the payment and the insurance, maybe take 50% of that total and set it aside each month and add that to the budget next October. 



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Offline Too Stroked

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Re: Daughters First Car, serious question
« Reply #6 on: December 07, 2018, 10:37:48 AM »
I'm liking your daughter's thought process on not getting anything too flashy. I'd also back that plan because, well, you know what happens to first cars with new drivers. They hit stuff. Although a Benz crashes well, they cost a fortune to maintain and repair. I'd vote to get her something a bit more practical and simple.

My first car (and it was not a horseless carriage!) cost me $800 and lasted me for three years. I learned a ton about cars, driving, responsibility (and a few other things) in that car. Then it was time for something brand new. (a 1976 Toyota Corolla) that I kept for the next 17 years.

Offline Too Stroked

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Re: Daughters First Car, serious question
« Reply #7 on: December 07, 2018, 10:41:32 AM »
I wouldn't worry a out a Honda or Toyota with even 100k on the clock.  They are great cars. 

X2 on that one! I have 108,000 on my Scion xB and it still doesn't have a squeak or rattle in it. I wouldn't hesitate to drive it cross country tomorrow. My son's xB has 195,000 on the clock and it's still going strong.

Offline Rollingrock

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Re: Daughters First Car, serious question
« Reply #8 on: December 07, 2018, 11:54:44 AM »
Thanks fellas

I have told my buddy that we were passing...he had another buyer on deck waiting on us to pass so it has sold as of about 10 min ago.   

It wasn't in our plan to buy a sedan...we were looking more for a small crossover/suv type car for her so she can move horse feed and gear as needed.  As for the insurance...those of you with kids already know this but it was a shock for me.  Just having this car on our policy was going to be 500 every 6 months.

Once she has an actual license, the cost to her insured with a C250 was going to be 2100 every 6 months.  if we went with a CRV or a Rav4 type car, the pricing is 1650 every 6 months.   Shockingly high if you ask me for either. 

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Offline sscully

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Re: Daughters First Car, serious question
« Reply #9 on: December 07, 2018, 01:46:40 PM »
I am torn, hate to walk from a good deal and know that in 10 months for the same price we are going to be looking at 75-85K miles Honda's and Toyotas that will be beat on for the same pricing.   

ugh.

Take into account you would be paying 1,000.00 in insurance for it to sit in the driveway for the next year, with a year of plates and inspection costs added to it. 
This means you have another 1,000.00 + saved ( not spent ) for next year's purchase.

I don't think it was that good of a deal and passing on it is the real good deal. 
- It does not look at bad as you think, could be buyers ( passers ) remorse going on.

If you really wanted to buy a CRV today, Toyota Ft Worth has a 2011 Honda CR-V LX listed for 12.7K with 45K miles on it.
There are ~ 45 Honda CRV's within 50 miles of you, max price of 12.5K in the 2010 to 2015 MY range.
I'd look at the 2011 Honda CR-V LX with 82K miles listed for 10.9K. 
- This is a year newer and less miles than Mom & Dad's 2010 CRV... :wow: Let that sink in...

A lot can happen in 10 months, you might not do the 3rd car at that time based on costs.

Straight line 12.5K@ 0% for 48 months is ~ 260.00/ month plus 275.00/month for insurance ( CRV / Rav4 ) plus plates & inspection costs is ~ 6,500.00 ARC.  Add this to fuel & Maint costs.
Is this in the budget with everything that happened the past 24 months
- Mod 3 done thread list keeps growing...

Insurance cost, that is about right if I look at it for what my 16 year old insurance cost all those decades ago.
Tom posted his was not a horseless carriage, but he never said it was not a mule with no carriage like the Grand Canyon trips.....
I think I recall Tom saying it was a big deal when they discovered dirt... :redneck:
- I shouldn't talk, I called my 1st girlfriend 'Hun' because she was one..


Could be the upper limit on the individual policies driving the cost.
Did you look into an umbrella policy with lowering the top end limits on all the individual policies to see if that saves some money ?
Steve

Offline Rollingrock

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Re: Daughters First Car, serious question
« Reply #10 on: December 08, 2018, 09:01:42 PM »
appreciate all the responses fellas.

JP

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Offline Blown F-150

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Re: Daughters First Car, serious question
« Reply #11 on: December 10, 2018, 12:29:03 AM »
I doubt I can offer anything of value, but I think you made the right choice. Hold off and buy something when it gets closer.

If I can make a suggestion, I would even look at a regular Impreza hatchback for her. They are very good value, pretty easy to find and dirt cheap to maintain and fix.

Otherwise, a 2-3 year old Outback would be good and have a ton of space. Please, just stay away from anything VW, they are absolute garbage as of late.
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Offline Rollingrock

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Re: Daughters First Car, serious question
« Reply #12 on: December 10, 2018, 01:29:36 AM »
I doubt I can offer anything of value, but I think you made the right choice. Hold off and buy something when it gets closer.

If I can make a suggestion, I would even look at a regular Impreza hatchback for her. They are very good value, pretty easy to find and dirt cheap to maintain and fix.

Otherwise, a 2-3 year old Outback would be good and have a ton of space. Please, just stay away from anything VW, they are absolute garbage as of late.

Great advise taken....I have had my mind set on Subaru's from day 1.    Daughter safety is gaol #1.   She is precious cargo. 
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Offline Kitzy

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Re: Daughters First Car, serious question
« Reply #13 on: December 10, 2018, 03:06:05 PM »
I think an Outback is going to be more than you want to spend.  It's a pretty good sized car.  The Forester is comparable to the RAV4 and CRVs though.  Better looking in my opinion too.  I don't know how far back it goes, but Subaru has what they call Eye-Sight.  Cassie has it on her Outback and I know it now comes standard on all Foresters.  Essentially two cameras, one on each side of the rearview, that monitors the lines in the road and things a head of you such as stopped traffic or if someone cuts you off.  It also has adaptive cruise control which I absolutely love.  It will beep annoying at you when you drift in to the lines on the road.  If you don't correct and drift too far, it will steer you back.  It will brake for you if you're about to hit something.  The cruise control maintains one of three predetermined distances between you and the vehicle in front of you.  So with cruise control set to 70, if someone cuts you off, it will let off the gas or even apply the brakes until it puts that distance back between you and the new car.  It will then follow the speed of that car, at that distance, until they exceed your set 70mph or they move out of your way in which case your car will return back to 70.  It works amazing.  The adaptive cruise control works amazingly well.  The lane departure beeping is annoying but this day and age with texting could be a life saver, especially for kids.  I haven't tried to make it steer me back in to the lane yet because I dont know it's limits and what if it doesn't work.  Haha.  I also want to try to see if it will slam the brakes on if I'm about to hit a stationary object.  I'm going to convince Cassie to let me try that one. 


All that said, the Impreza, Crosstrek and Forester all share the same platform now.  None of us would be happy with the power.  The Forester is at least a 2.5L. The other two are only 2.0L.  They dropped the 2.0L Turbo in the Forester XT.  That was the same motor out of the WRX.  Shame. 

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