2 hours ago, 4for4EaglesNest said:

Fun fact, Texas Pete is made and originated in Winston Salem NC.  It’s a go to of mine.  I need to find this.  

I thought Texas Pete was a mainstay in most major grocery stores.  Is it a regional product?

9 minutes ago, BDawk_ASamuel said:

Off-topic, but any car nuts in here? Specifically car finance/dealership savvy people. I currently have a 2019 Volkswagen GLI with 16,000 miles on it. Lease isn't up until next May, but I was looking to get another car. I reached out to my local BMW dealer for an X3 M40i and they offered a 36 month, 12k miles, $2500 down, for $1041/month proposal. The issue is that with the supply chain delays, they wouldn't be able to build it until August and by that time it would be the 2023 model where the price may go up/change. 

Also, with my current VW lease, would the dealership offer to buy my lease out due to the demand for used cars at this time? Or should I just ride out my current VW lease until after the summer closer to when the lease is up? 

Personally, I would never lease a car.  I'm a Euro guy, mainly Audi but I always loved the GLI all the way back to the MK4.  Are you looking to get the BMW on top of the VW or let the lease run out and just lease the BMW?  With used car demands the way they are, I would think a dealer would be offering you a solid chunk for a low mileage GLI.  I would take whatever money you can pocket from the VW and use that as a DP to finance.  Even if you sell during your payment period you should still come out on top rather than just losing the money you put down for the lease.

Just my 2 cents.

1 minute ago, bpac55 said:

Personally, I would never lease a car.  I'm a Euro guy, mainly Audi but I always loved the GLI all the way back to the MK4.  Are you looking to get the BMW on top of the VW or let the lease run out and just lease the BMW?  With used car demands the way they are, I would think a dealer would be offering you a solid chunk for a low mileage GLI.  I would take whatever money you can pocket from the VW and use that as a DP to finance.  Even if you sell during your payment period you should still come out on top rather than just losing the money you put down for the lease.

Just my 2 cents.

Preferably get the new car before the lease is up next May and then trade the VW in. 

3 minutes ago, BDawk_ASamuel said:

Preferably get the new car before the lease is up next May and then trade the VW in. 

Just a quick search with basic options selected, you're looking at a high 20s trade-in.  Take advantage of the market if you can.

3 minutes ago, bpac55 said:

Just a quick search with basic options selected, you're looking at a high 20s trade-in.  Take advantage of the market if you can.

Since it’s a lease would I have to buy it out from the dealership first and then resell it or would the dealership offer me something under the current remaining lease? 

5 minutes ago, BDawk_ASamuel said:

Since it’s a lease would I have to buy it out from the dealership first and then resell it or would the dealership offer me something under the current remaining lease? 

From my understanding, dealerships are straight up buying leased cars back...if you owe 20 they'd give you 8-9k.  I could be wrong but everything I've been reading and hearing about is people are making out like bandits right now with their leases.  Perfect time to get out of one.

15 minutes ago, BDawk_ASamuel said:

Since it’s a lease would I have to buy it out from the dealership first and then resell it or would the dealership offer me something under the current remaining lease? 

FWIW, I sold cars for ten years. Leasing used to be terrible but it’s gotten way better in the last 15 years (mostly because of the Internet). 
 

That’s the best thing about leases. You have three options when your lease ends. 
1) You can buy it (the residual amount) which often times is lower than its market value, and sell it yourself and keep the profit. That’s the best way to get out of it with the most money. Or obviously you can keep it at that point as well. 
 

2) You can just turn it in. Wash your hands of it. But if it has equity, you may as well get it. It’s when it’s upside down that you’d do this option. 
 

3) You can buy it and keep it. That’s obviously not what you’d do in this case, but it’s a benefit of leasing, if it makes financial sense. 
 

Leasing has a bad rap from back when the car industry was a bunch of thieves but the internet has mostly fixed that. Too much info out there for someone to have the balls to try to rip you off. 
 

Leasing makes a lot of sense for luxury cars, especially. A lot of rich people lease those. And cars that hold their value. The higher your residual, the lower your payment is, so cars that have high resale will have super low payments. Tacomas, Jeep Wranglers, Mazda CX-5s to name a few. But luxury cars do as well. People like leasing if they’re trading cars in every few years anyway because they get a much lower payment and more flexibility in the end. It guarantees you won’t get super upside down in a loan and be stuck with something you don’t like. 

Just DON’T lease Ford Fusions or Focuses, Chevy Cruz, Jeep anything except Wrangler. Anything with bad resale value because you’ll always be upside down in it no matter what, so you have to turn it in. But leasing is actually very attractive for foreign luxury cars and cars that hold value. And the residual is set at time of lease signing, so they can’t screw you at the end like the old days. 

9 minutes ago, bpac55 said:

From my understanding, dealerships are straight up buying leased cars back...if you owe 20 they'd give you 8-9k.  I could be wrong but everything I've been reading and hearing about is people are making out like bandits right now with their leases.  Perfect time to get out of one.

It’s true. The market is crazy. Cars are worth double what they were a couple years ago. Trucks are even crazier. The problem is, once you sell it, you gotta replace it. Which actually makes leasing even more attractive because you’re paying residual set in this market that could be worse in 3 years when it runs out. And you have the option to buy it at the residual value. Which could be very advantageous. Plus the lower payment. And if it doesn’t work out, turn in in and get something else. 

6 hours ago, downundermike said:

Based on this offseason, good draft, FA signings and trades, the only thing left is for Hurts to get injured week 14 at Chicago, RTK declares the season ended the moment Hurts was injured, Minshew will take over and the rest will be history.

3 minutes ago, blindside said:

It’s true. The market is crazy. Cars are worth double what they were a couple years ago. Trucks are even crazier. The problem is, once you sell it, you gotta replace it. Which actually makes leasing even more attractive because you’re paying residual set in this market that could be worse in 3 years when it runs out. And you have the option to buy it at the residual value. Which could be very advantageous. Plus the lower payment. And if it doesn’t work out, turn in in and get something else. 

I'm in that situation with my car right now.  I could sell it and bank some cash but then I have to buy in this market, just like the house I just sold and bought. ugh.   

Explain that again with leasing and buying residual please.  Sounds intriguing but I'm not 100% following.

4 hours ago, ToastJenkins said:

I still think he is likely best suited to safety 

but we seem to not like that conversion…

How is he best suited to safety? I'm not clear on what makes him better at that position as opposed to CB. I'm not being argumentative. I just want to know what difference in skill set there is between the two positions. I have a notion but it is far from definitive.

4 hours ago, bpac55 said:

Maxey IS the star.  He better be untouchable.  If they trade him I just don't know what I would do.

I know what I would do. Put the Sixers on Ignore.

23 minutes ago, blindside said:

FWIW, I sold cars for ten years. Leasing used to be terrible but it’s gotten way better in the last 15 years (mostly because of the Internet). 
 

That’s the best thing about leases. You have three options when your lease ends. 
1) You can buy it (the residual amount) which often times is lower than its market value, and sell it yourself and keep the profit. That’s the best way to get out of it with the most money. Or obviously you can keep it at that point as well. 
 

2) You can just turn it in. Wash your hands of it. But if it has equity, you may as well get it. It’s when it’s upside down that you’d do this option. 
 

3) You can buy it and keep it. That’s obviously not what you’d do in this case, but it’s a benefit of leasing, if it makes financial sense. 
 

Leasing has a bad rap from back when the car industry was a bunch of thieves but the internet has mostly fixed that. Too much info out there for someone to have the balls to try to rip you off. 
 

Leasing makes a lot of sense for luxury cars, especially. A lot of rich people lease those. And cars that hold their value. The higher your residual, the lower your payment is, so cars that have high resale will have super low payments. Tacomas, Jeep Wranglers, Mazda CX-5s to name a few. But luxury cars do as well. People like leasing if they’re trading cars in every few years anyway because they get a much lower payment and more flexibility in the end. It guarantees you won’t get super upside down in a loan and be stuck with something you don’t like. 

Just DON’T lease Ford Fusions or Focuses, Chevy Cruz, Jeep anything except Wrangler. Anything with bad resale value because you’ll always be upside down in it no matter what, so you have to turn it in. But leasing is actually very attractive for foreign luxury cars and cars that hold value. And the residual is set at time of lease signing, so they can’t screw you at the end like the old days. 

Good info. Thank you. 

15 minutes ago, justrelax said:

How is he best suited to safety? I'm not clear on what makes him better at that position as opposed to CB. I'm not being argumentative. I just want to know what difference in skill set there is between the two positions. I have a notion but it is far from definitive.

Safety is more cerebral. Corner more physical traits imho. Safety needs to understand route combinations in a spatial manner. Corner is a man or a space most times. Corner must be faster. Safety must be smarter.

example: playing lb i can tell you i wasnt the fastest or strongest. I got by on my brains and technique. I could rush and drop into coverage. If i had curl/flat and that rb started coming out to my side i knew there was a route behind me without even turning my head

 

1 hour ago, NCTANK said:

dude, i’m from Mooresville 

Right on, I moved to Cornelius about 7 years ago. Lake Norman area really is a great place to be. Lake life. Charlotte is close. Mountains are only a few hours away. Our family has a cabin in West Jefferson. Beautiful up that way.

So far I've heard people suggest we move Maddox, Gowan, Vincent Jr, and Jobe to safety.  Anyone I'm missing?

Not trying to call anyone out.  I frankly don't know enough about it to know if any of these are good or bad ideas. Mostly just curious because we have F all at safety right now and I'm interested to see how it shakes out.

32 minutes ago, bpac55 said:

I'm in that situation with my car right now.  I could sell it and bank some cash but then I have to buy in this market, just like the house I just sold and bought. ugh.   

Explain that again with leasing and buying residual please.  Sounds intriguing but I'm not 100% following.

I leased my audi then bought it out at a residual set in 2018 that was far lower than what the vehicle would have cost i 2021. Will drive it for years now.

8 minutes ago, DEagle7 said:

So far I've heard people suggest we move Maddox, Gowan, Vincent Jr, and Jobe to safety.  Anyone I'm missing?

Not trying to call anyone out.  I frankly don't know enough about it to know if any of these are good or bad ideas. Mostly just curious because we have F all at safety right now and I'm interested to see how it shakes out.

JJAW?

I think Maddox might make some sense. Anyone else feels like it would be just a shot in the dark. 

Guys we found a new avatar for the blog 

 

1 hour ago, BDawk_ASamuel said:

Off-topic, but any car nuts in here? Specifically car finance/dealership savvy people. I currently have a 2019 Volkswagen GLI with 16,000 miles on it. Lease isn't up until next May, but I was looking to get another car. I reached out to my local BMW dealer for an X3 M40i and they offered a 36 month, 12k miles, $2500 down, for $1041/month proposal. The issue is that with the supply chain delays, they wouldn't be able to build it until August and by that time it would be the 2023 model where the price may go up/change. 

Also, with my current VW lease, would the dealership offer to buy my lease out due to the demand for used cars at this time? Or should I just ride out my current VW lease until after the summer closer to when the lease is up? 

Also seems pretty high on an X3. I’d see how much of it is a market adjustment and try to argue it down 

7 minutes ago, Allhaildawk said:

Also seems pretty high on an X3. I’d see how much of it is a market adjustment and try to argue it down 

In this market, there is no "argue it down."  My transmission went on my car in the fall and I bought a "used" dealer demo car that had only 1k $ reduction off of sticker.  I said "really, you want me to buy this with over 3k miles for just 1k less than sticker?"  His response - you don't have to buy it.  I'll sell it next week for full sticker price, no problem.

And he was right, so I bought it.  Sucks but that's the market today.  You make bank on what you sell and then pay through the nose for what you buy as replacement.

7 minutes ago, purplefiggy said:

In this market, there is no "argue it down."  My transmission went on my car in the fall and I bought a "used" dealer demo car that had only 1k $ reduction off of sticker.  I said "really, you want me to buy this with over 3k miles for just 1k less than sticker?"  His response - you don't have to buy it.  I'll sell it next week for full sticker price, no problem.

And he was right, so I bought it.  Sucks but that's the market today.  You make bank on what you sell and then pay through the nose for what you buy as replacement.

I argued a 10k market adjustment off the Golf R I bought a month ago and 25k down to 5k off a GMC Sierra Denali diesel last year. Always games to play with more cash/financing etc. I’m sure it depends on the dealer too. I have the luxury of going to high volume places 

14 hours ago, bpac55 said:

I'm in that situation with my car right now.  I could sell it and bank some cash but then I have to buy in this market, just like the house I just sold and bought. ugh.   

Explain that again with leasing and buying residual please.  Sounds intriguing but I'm not 100% following.

Sorry, I should’ve been more clear. 
 

When you finance a vehicle through a bank, you pay the total amount of the car and taxes divided by the length of your term. The most common being 60 months plus the APR which is going up as we speak. It’s a pretty simple loan. 
 

With a lease, every car has a residual value, which is essentially a projection of what that car should be worth after three years (the lease term). It’s calculated as a percentage. The payment you pay, is the difference between the car’s total value and the residual, divided by the lease term which is usually 36 months (the three years) and a money factor which is like an interest rate, but usually extremely low. That probably sounds confusing so I’ll break it down with an example. 
Car cost= $20,000

Residual= 60% so $12,000. (What the car’s value will be and what you can buy it for at the end of the lease)
 

Difference= $8,000 

so you’re financing that $8,000 over 36 months plus the money factor. I don’t know the specifics about difference between it and an interest rate, but it’s calculated differently. But any good lease should be a 0.0001 money factor which is next to no interest at all. Some are higher though, but usually less than regular interest rates because the banks incentivize leasing. 
 

But that’s why buying a car that holds its value is better, because if you’re leasing a Hyundai Accent which probably has closer to 40% residual, now you’re financing (leasing) $12,000 for 36 months with (hopefully) very little interest. 
 

So if you’re financing a $20,000 car for 60 months at 3.9%, your payment will be $367.43

 

If you lease the car with a 60% residual, with a .0001 money factor, your payment is somewhere around $230 a month for three years with the option to buy it for $12,000 at the end of your lease, or turn it in. 
 

But with a 40% residual your payment is like $340. 
 

Granted, 60% is VERY GOOD and 40% is VERY BAD. I don’t know if any go that low. Lowest I’ve seen is 45% but you can see how that’s much less attractive. I’d consider realistically good between 55-60%. I probably wouldn’t lease a car with less than a 54%. Highest I’ve seen is that new Jeep Wrangler pickup truck thing.. I think it’s called the commander... it was 91% so your payment was dirt cheap, but the buyout at the end was a lot. But that’s an anomaly. 
 

Hopefully this makes sense. I’ve never typed about leases before. It’d be a lot easier just talking, but here we are 😂

1 minute ago, blindside said:

Sorry, I should’ve been more clear. 
 

When you finance a vehicle through a bank, you pay the total amount of the car and taxes divided by the length of your term. The most common being 60 months plus the APR which is going up as we speak. It’s a pretty simple loan. 
 

With a lease, every car has a residual value, which is essentially a projection of what that car should be worth after three years (the lease term). It’s calculated as a percentage. The payment you pay, is the difference between the car’s total value and the residual, divided by the lease term which is usually 36 months (the three years) and a money factor which is like an interest rate, but usually extremely low. That probably sounds confusing so I’ll break it down with an example. 
Car cost= $20,000

Residual= 60% so $12,000. (What the car’s value will be and what you can buy it for at the end of the lease)
 

Difference= $8,000 

so you’re financing that $8,000 over 36 months plus the money factor. I don’t know the specifics about difference between it and an interest rate, but it’s calculated differently. But any good lease should be a 0.0001 money factor which is next to no interest at all. Some are higher though, but usually less than regular interest rates because the banks incentivize leasing. 
 

But that’s buying a car that holds its value is better, because if you’re leasing a Hyundai Accent which probably has closer to 40% residual, now you’re financing (leasing) $12,000 for 36 months with (hopefully) very little interest. 
 

So if you’re financing a $20,000 car for 60 months at 3.9%, your payment will be $367.43

 

If you lease the car with a 60% residual, with a .0001 money factor, your payment is somewhere around $230 a month for three years with the option to buy it for $12,000 at the end of your lease, or turn it in. 
 

But with a 40% residual your payment is like $340. 
 

Granted, 60% is VERY GOOD and 40% is VERY BAD. I don’t know if any go that low. Lowest I’ve seen is 45% but you can see how that’s much less attractive. I’d consider realistically good between 55-60%. I probably wouldn’t lease a car with less than a 54%. Highest I’ve seen is that new Jeep Wrangler pickup truck thing.. I think it’s called the commander... it was 91% so your payment was dirt cheap, but the buyout at the end was a lot. But that’s an anomaly. 
 

Hopefully this makes sense. I’ve never typed about leases before. It’d be a lot easier just talking, but here we are 😂

Also keep in mind right now dealers are incentivized to lean away from leases.  Market conditions are more desperate now than they will be when you’re turning the car in. God willing. They want to sell you a car with a full market adjustment on it, and take your used car. And sell that with a market adjustment on it. They’re not going to give you a typical residual in this market when they get such a beneficial deal on the sale side. 

3 minutes ago, blindside said:

Sorry, I should’ve been more clear. 
 

When you finance a vehicle through a bank, you pay the total amount of the car and taxes divided by the length of your term. The most common being 60 months plus the APR which is going up as we speak. It’s a pretty simple loan. 
 

With a lease, every car has a residual value, which is essentially a projection of what that car should be worth after three years (the lease term). It’s calculated as a percentage. The payment you pay, is the difference between the car’s total value and the residual, divided by the lease term which is usually 36 months (the three years) and a money factor which is like an interest rate, but usually extremely low. That probably sounds confusing so I’ll break it down with an example. 
Car cost= $20,000

Residual= 60% so $12,000. (What the car’s value will be and what you can buy it for at the end of the lease)
 

Difference= $8,000 

so you’re financing that $8,000 over 36 months plus the money factor. I don’t know the specifics about difference between it and an interest rate, but it’s calculated differently. But any good lease should be a 0.0001 money factor which is next to no interest at all. Some are higher though, but usually less than regular interest rates because the banks incentivize leasing. 
 

But that’s buying a car that holds its value is better, because if you’re leasing a Hyundai Accent which probably has closer to 40% residual, now you’re financing (leasing) $12,000 for 36 months with (hopefully) very little interest. 
 

So if you’re financing a $20,000 car for 60 months at 3.9%, your payment will be $367.43

 

If you lease the car with a 60% residual, with a .0001 money factor, your payment is somewhere around $230 a month for three years with the option to buy it for $12,000 at the end of your lease, or turn it in. 
 

But with a 40% residual your payment is like $340. 
 

Granted, 60% is VERY GOOD and 40% is VERY BAD. I don’t know if any go that low. Lowest I’ve seen is 45% but you can see how that’s much less attractive. I’d consider realistically good between 55-60%. I probably wouldn’t lease a car with less than a 54%. Highest I’ve seen is that new Jeep Wrangler pickup truck thing.. I think it’s called the commander... it was 91% so your payment was dirt cheap, but the buyout at the end was a lot. But that’s an anomaly. 
 

Hopefully this makes sense. I’ve never typed about leases before. It’d be a lot easier just talking, but here we are 😂

Glad you know what you're talking about!  So any idea what a 2022 SQ5 would look like estimating sale price of $60k