32 Votes

Will You Be Buying "Up" Or Simply Buying "Smaller" On Your Next Car?

Agent009 submitted on 7/31/2008 Official Bell & Ross Timestamp: 9:23:19 AM

43 user comments | Category: Misc News | Source: | SOURCE: www.detnews.com

And, per usual, Detroit's automakers are bearing the brunt of the auto industry's most recent dead end.

Anyone who leases a vehicle, and particularly a Chrysler LLC truck or SUV, is likely already aware of the issue. The Auburn Hills automaker will stop financing lease deals after tomorrow, making it harder for some to get into that new Dodge Ram pickup they had their eye on -- and that the company was banking on to help in its slow-moving turnaround.

Chase Auto Finance backed out too, stranding would-be Chrysler lessees.

The impact is significant for consumers, particularly those who have relied on good lease deals to get into larger or more luxurious vehicles.

"I can tell you how this will impact my family. If leasing becomes too expensive and we are forced to buy I can see us moving down to a very inexpensive (small) car to be able to afford the payment," said Louie Bruno of Grosse Pointe. "My guess is that would mean buying a low-priced foreign vehicle unless the Big 3 can make something worth owning available quickly."

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User Comments

I like the new Smart much better than the old one pictured up there.

Anyway, I am getting a much more fuel efficient car. I will definitely be keeping my attention on the "all electric" vehicle Mercedes-Benz has promised by 2010. Hopefully it will be something like a C-Class instead of an A or B class as reported here earlier this month.'
— w209w114 (View Profile)

Posted on 7/31/2008 9:55:53 AM | reply to this comment | Votes: 2

i still have my x5 and mercedes, and a smart. my next two cars will probably be a land rover and a maserati? keep the smart
— pacotacolol (View Profile)

Posted on 7/31/2008 3:07:15 PM | | Votes: 0

I will be buying an SUV to replace my 3 series due to safety and practical reasons.
— AdmiralT20 (View Profile)

Posted on 7/31/2008 10:18:01 AM | reply to this comment | Votes: 0

*thumbs up*
— M53R (View Profile)

Posted on 7/31/2008 11:14:52 AM | | Votes: -3

You sound like a kind of person that walks down an escalator goin' up.
— sector (View Profile)

Posted on 7/31/2008 11:39:36 AM | | Votes: 0

Obviously you know nothing about safety!
— MadibaP (View Profile)

Posted on 7/31/2008 4:39:14 PM | | Votes: 3

Auto001 and MadiPaB

Thanks for your comments.
You are right, I am clueless when it comes to safety but I am entitled to define safety whichever it pertains to me.
After having the experience of running into a wildlife and consequences of that action I think I am in the best position to define what angle I am approaching this safety issue.
— AdmiralT20 (View Profile)

Posted on 7/31/2008 5:19:28 PM | | Votes: -3

Well from that one perspective, yes. But what if you had had a different kind of accident? One of the far more common kind, like hitting another car?

If you look up the very carefully collected data from the numerous tests done around the world by all the authorities, both injury and death rates are higher in an SUV.

Have you sat in and looked at the room available in say an A6 Estate?
— MadibaP (View Profile)

Posted on 8/1/2008 2:45:25 AM | | Votes: 2

I have a 2004 BMW E46 325i. I used to trade in cars often but now I see myself keeping this car for at least another 5 or 6 years. It is not financially smart to get rid of a good car after the finance is over since there will be no monthly payments and repairs could be expensive but it's not going to be monthly as a high car payment would be.

I also do not understand peoples ideas of needing to trade in their cars for an expensive Hybrid vehicle when such as a Camry Hybrid vs. the Camry LE which in most cases now with rebates you could get the normal version for about 10K less then the Hybrid model. Which average working person spends 10 grand on gas in 5 years????

The idea of trading in cars every 5 years doesn't make since to me since we need factories to build cars, export them etc etc. This only creates more pollution.
— BimmerGuyFL78 (View Profile)

Posted on 7/31/2008 10:31:28 AM | reply to this comment | Votes: 3

Wait 5 years!

The question then will be 'who spends less than 10 grand?'
— MadibaP (View Profile)

Posted on 7/31/2008 4:41:27 PM | | Votes: 1

I'm spending over $6,000 currently !!! Not to happy about it....
— AMiodynski (View Profile)

Posted on 7/31/2008 8:02:59 PM | | Votes: 1

I have an '01 330i and I plan to keep it for awhile too. The new BMW's are finally starting to look better, and I'm sure they drive great, but that just isn't enough anymore. It would take a hybrid 3-series to pry me away from my trusty e46.
— t_bone (View Profile)

Posted on 8/1/2008 12:50:32 AM | | Votes: 0

buying up, way up. I own(paid off) my 05 maxima and will go up to a 335i 6 speed coupe when the refresh face lift comes out and modifying the hell out of it. the maxima will still be with me btw. Next car is the GT-R if all goes well(thankfully i am not relying on my wife/girlfriend or anyone for these purchases or it would be quite impossible to do so). the day I a buy car to save money from gas or whatever will probably never take place. like 90% of my paycheck would have to go to my current car for me to significantly downsize
— KZ258 (View Profile)

Posted on 7/31/2008 10:44:18 AM | reply to this comment | Votes: -1

A bit "cocky", but I understand your thinking. I own an FX45 and I could easily go through a tank of gas in a week based on my daily commute and driving habits.

When I'm ready to buy something else, I may look for an SUV of similar size but not too much bigger....no reason to have a full-size SUV. The cost of gas is high, but it's not "breaking-the-bank" and would have to approach $10-$12/gal before getting a fuel-sipper will seem like an economical idea for my family. Most of the time, I feel that if higher gas prices are hurting most people's finances, they may have purchased a vehicle that is too expensive for what they earn or are able to save.

Leasing is under fire b/c it was the buying tool most suggested by dealers to move product and to get consumers into more expensive products for higher profits and other type of returns. Then came CPO (Certified Pre-Owned) vehicles that increased the transaction costs of used cars that brought additional money to the same dealer for basically selling the same car twice.
— dumpsty (View Profile)

Posted on 7/31/2008 1:43:00 PM | | Votes: 0

$10-$12/gal next Christmas
— MadibaP (View Profile)

Posted on 7/31/2008 4:43:09 PM | | Votes: -2

... and the next rumble will have you saying $20-24/ga.
— toolatetorace (View Profile)

Posted on 8/1/2008 3:47:39 PM | | Votes: 1

You need to get a life...seriously.
— nozferatu (View Profile)

Posted on 8/3/2008 4:42:08 AM | | Votes: 1

the day i buy a car**
— KZ258 (View Profile)

Posted on 7/31/2008 10:45:50 AM | reply to this comment | Votes: 0

Im going to replace my X5 with an X6 or the new 7 series in about a year or two. Or depends on my financial status then.
— M53R (View Profile)

Posted on 7/31/2008 11:16:27 AM | reply to this comment | Votes: -3

the x5 is really good SUV.
— pacotacolol (View Profile)

Posted on 7/31/2008 3:07:53 PM | | Votes: -3

Buy Up. i play to wait for the Next Infiniti Q. if its not out by 2009-2010, i'll snatch up a new Jag.
— njsidekick3 (View Profile)

Posted on 7/31/2008 11:18:19 AM | reply to this comment | Votes: 1

I recently traded down my main car and sold my alternate vehicle (an SUV) and feel like an idiot for doing so as I am not fianacially strapped and had no problem affording my previous vehicles or gas. But I guess it was good seeing how my current vehicle is more fuel efficient, half as much on insurance, and cheaper. Lost luxury and power but I still have my motorcycle if I have a need for power. My current car grew in size and that did replace the need for an SUV
— 0to60 (View Profile)

Posted on 7/31/2008 12:14:19 PM | reply to this comment | Votes: 1

You would have taken a higer hit on the depreciation on your SUV if you would have tried to sell it right now. Look at the bright side, you saved some $$$ at the end
— w209w114 (View Profile)

Posted on 7/31/2008 1:30:42 PM | | Votes: 1

Right!
— 0to60 (View Profile)

Posted on 7/31/2008 4:11:49 PM | | Votes: 1

Up, Gas is gas.
— no1listensanyway (View Profile)

Posted on 7/31/2008 12:28:48 PM | reply to this comment | Votes: 2

Does anyone know if and when the Navigator will be replaced with a new one ?

— JWalkerLegrande (View Profile)

Posted on 7/31/2008 1:00:34 PM | reply to this comment | Votes: -1

Wont be going up or down. I'm set for now, all my cars are paid for and are just exactly what I want. Why on earth would I sell my car just to take a depreciation hit on a fuel efficient car. Never mind that my E320CDI already does great on gas and I dont drive my classics or truck except when I have to.
— Threepoint1415926 (View Profile)

Posted on 7/31/2008 1:41:31 PM | reply to this comment | Votes: 1

I will be buying down or lateral. The lease is soon to be up on my 745 and I will be going down from full size to midsize and will definitely be going with a nice V6 instead of a V8. I don't really like anything that is out right now in this class or at least not enough to spend the next 4-6 years with. There are some very nice cars, but nothing that really catches my eye. I am waiting to see:

Restyled Infiniti M37
Restyled Audi A6
Restyled Mercedes E class
Restyled 5 series even though I don't really like the styling direction BMW is taking right now.

My criteria are good performance from the V6, I think Audi's new supercharged V6 is going to get my attention and you can never rule out the VQ from Infiniti. A decent back seat and a good ride with decent handling, I do not need sports car handling, but I have gotten used to the controlled ride of the BMW.

Stone
— stone (View Profile)

Posted on 7/31/2008 1:44:26 PM | reply to this comment | Votes: 5

Agree with your assessment of the luxury midsize market, except I go for a 535xi today.

Your plans to go down to a nice V6 from a full size V8 are commendable, I'd do the same.
— 280SE (View Profile)

Posted on 7/31/2008 5:34:43 PM | | Votes: 2

Stone,

All of the cars you mentioned won't be available until 2010. The B8-body Audi A4 and S4 will be available in late 2008 and early 2009. Audi has increased the size of these cars to the point that their interiors are about as big as the current Audi A6. They are also cheaper and prettier than the A6. Check them out.
— Audiphile (View Profile)

Posted on 7/31/2008 11:02:56 PM | | Votes: 1

Audiphile,

I have read about the new A4, but I am 6'2 and I don't think I will fit very well even with the larger interior, plus I quite often have passengers in the back seat.

My thought is since the new A4 is so much larger and just as powerful as the current A6 that Audi will release the new A6 next year. Also, since the G37 sedan is coming this year with a better 7-speed tranny and way more HP than the current M35 that Infiniti will release the new M next summer.

I am pretty sure I will get one of these two as I am not really a Merc kind of guy and I am not crazy about BMW's styling direction although the 5-series with sports package is far from ugly.

I just can't justify paying 40-50K buying one of these sedans this year when they will all most definitely be getting restyled within the next 10-14 months. I am gambling that these cars will hit in summer 2009 as early 2010 models. I have a 98 Maxima that I can use as a daily driver until then, so I am willing to wait. Its going to be pretty nice not having any car notes for a few months.

Stone
— stone (View Profile)

Posted on 7/31/2008 11:33:40 PM | | Votes: 2

I plan on doing both by trading in (or selling) my 2006 1st 1000 Solstice to get a Lotus Elise.

A year ago, I'd have probably said trade/sell my CTS-V for a Z-06 Corvette.
— 09CTSVforMe (View Profile)

Posted on 7/31/2008 2:01:40 PM | reply to this comment | Votes: 1

BMW X5 or X6 handling is like no other! My X5 was able to run at a 135-140 mph on a drizzling night with such amazing stability. Kudos!
— raysatina (View Profile)

Posted on 7/31/2008 4:36:55 PM | reply to this comment | Votes: 0

I have a Mini Cooper S(2006) and Rav 4(2001).The Rav only has 60,000 miles.Being that it's a 4 cylinder I plan on keeping it another 5 yrs. The Mini I will probably keep another 5 yrs as well.If and when I replace thsed vehicles I would be looking at another SUV 4 cylinder and or diesel.I may look at a Smart or I may go with another sportscar that gets good mileage(perhaps a Miata).We will have to see what the market is in the next 5 yrs.I hope WV imports or builds the Scirroco here eventually.
— mini22 (View Profile)

Posted on 7/31/2008 5:36:43 PM | reply to this comment | Votes: 1

I have a 2006 Honda CR-V SE and a 2008 Toyota Urban Runner.
After those, “not passing gas” any more, tail pipe that is.
Next car will be a 2010 Subaru R1e or a 2010 Nissan electric ZEV.
Some day Honda FCX Clarity ...
— topneuro (View Profile)

Posted on 7/31/2008 6:26:33 PM | reply to this comment | Votes: 1

I currently have a mazdaspeed 6, and the wife has a cr-v. We will probably be trading in the cr-v for a 7 passenger suv in a few years... will be starting a family by then. The speed 6 I'll probably keep for another 5 years or so, but I may get a 335xi after that.
— holmstar (View Profile)

Posted on 7/31/2008 9:19:52 PM | reply to this comment | Votes: 1

The lease on my 2006 Audi A8L runs out in December. It's a wonderful car, but oh those monthly payments! I can get 26-27 mpg on a long interstate trip, but the mileage drops to 15-17 mpg in everyday driving. I drive over 300 miles a week, and with premium gas selling for well over $4.00 a gallon, filling up the tank is painful. Then there are insurance premiums, state personal property taxes, tires ..... well, you do the math.

One reason I got the A8L was because it was the only Audi model I could fit into. Being 6'4" tall and long-waisted, I was too tall for the other models available at the time of purchase. I also needed a big car to shuttle my ailing 6'2" father around. Well, Dad is gone now, and hopefully Audi's new models are roomier than in the past.

My first choice would be the upcoming B8-body Audi S4, which hopefully will be available by the time my lease is up. If not, I would settle for the B8-body A4 Avant with a performance package.

If I am too tall for the new S4 or A4, my next choice would be the Cadillac CTS with the direct-injection V6.

I love the new Jaguar XF, but it's too expensive and thirsty to be a first choice.

I am too tall for the BMW 335i, but I can fit into the M3 because it can be ordered without a sunroof. However, the current M3 interior is a little too narrow for my taste, and the car is also too expensive and thirsty.

By the way, I have some advice for drivers who are not rich and who frequently parallel-park - never, NEVER buy a car equipped with wheels 19" or larger! The 19-inch wheels on my A8 are lovely, but it is all too easy to scratch the ribs on curbs. Also, the low-profile tires are unusually susceptible to potholes. Fortunately one can equip both the new Audi A4 and Cadillac CTS with performance packages featuring 18" wheels.
— Audiphile (View Profile)

Posted on 7/31/2008 10:56:11 PM | reply to this comment | Votes: 2

You had to buy an Audi A8 to fit into a car??? Come on now...that's just ridiculous.
— nozferatu (View Profile)

Posted on 8/3/2008 4:44:18 AM | | Votes: 1

Got an '07 3 series here and an '07 VW Golf (Rabbit) here and happy with both so no I won't be trading at all.
— atomicbri (View Profile)

Posted on 7/31/2008 11:07:08 PM | reply to this comment | Votes: 1

I lease my cars. im thinking about buying a small quick car since i live in Manhattan, mazda 3 or a 4 door civic si is on my radar, but i got some time on my r32
— DROOPYSAKK (View Profile)

Posted on 8/1/2008 8:31:35 AM | reply to this comment | Votes: 1

I have a Z06, 993 Turbo, Boxster S and F150 FX4.

I am anxiously waiting to see the Cadillac Coupe in V trim or the updated M6...
— Tour18 (View Profile)

Posted on 8/2/2008 10:17:10 AM | reply to this comment | Votes: 1

Currently leasing a G37, but looking to get out of my lease and maybe buy a Honda Accord coupe. Not sure how much thats downgrading though...
— volnedan (View Profile)

Posted on 8/3/2008 2:17:09 AM | reply to this comment | Votes: 1

Frankly it would be wonderful not to have to have a car...I would save an incredible amount of money and after not driving for a while, I realize what a waste of time it is sitting in a car anyway.

We could all do with some cleaner air and more relaxed lives.
— nozferatu (View Profile)

Posted on 8/3/2008 4:39:55 AM | reply to this comment | Votes: 1

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Will You Be Buying "Up" Or Simply Buying "Smaller" On Your Next Car?

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