8 minutes ago, MidMoFo said:

Correct. Just like dealers have been doing with diesel and gas powered vehicles for decades… now electric vehicles also.

What does this have to do with 0 percent financing not always being the best deal? Lol

So, you won't be able choose in California? Has anyone suggested setting up "Car Sales Tents" in National Parks, in order to provide free access to choose the vehicle you want to purchase?

15 hours ago, iladelphxx said:

It literally says that 0% financing makes you ineligible for rebates and other incentives, and that these incentives often are a better deal than the 0%....

Who gets the better deal? 

The guy who pays $33K for a car and gets 0% financing or the guy who negotiates the price of the car down via rebates and other incentives to $27Kand gets a 3% loan through his own bank? 

Firstly we weren’t talking about who pats more. That’s all irrelevant to the conversation. Secondly you can get other rebates along with 0 percent, but you don’t need me or an article from autotrader to tell you that, you do this all the time, you know this. Also if you’re going somewhere that is trying to scoop 5k in rebates from you I’d suggest never going there again. Also, where are you getting 5k in rebates right now? They don’t exist and haven’t existed for more than a year, but again you know this because you do this all the time. There’s no negotiating right now, it’s a take it or leave it market because the next guy is probably willing to pay over sticker and not get 0 percent, but you know this. 

17 hours ago, paco said:

Electric engines have a TON of torque.  Being that said, was the dude flooring it every time he hit the gas current?  Jeebus

Depending on the car, they can have more low profile tires. Your Mach-E is probably coming with all season tires so you’re going to be right in the middle. 

On 8/27/2022 at 1:46 AM, iladelphxx said:

My residual was $24K below what they were selling for on Autotrader so I just bought it out 

You should have traded it in and used the extra money as a down payment towards your next car. Buying it out and keeping the car, heading into a period with used cars prices dropping is literally the dumbest thing you can do. 

11 minutes ago, 20dawk4life said:

You should have traded it in and used the extra money as a down payment towards your next car. Buying it out and keeping the car, heading into a period with used cars prices dropping is literally the dumbest thing you can do. 

I trade it in but take the cash. Always do zero down on a lease (or at least I did when rates were so low). 

13 minutes ago, vikas83 said:

I trade it in but take the cash. Always do zero down on a lease (or at least I did when rates were so low). 

Yea. Do that or use it towards a purchase if you want. But buying out a lease when value is higher than your residual is just stupid. 

3 hours ago, 20dawk4life said:

You should have traded it in and used the extra money as a down payment towards your next car. Buying it out and keeping the car, heading into a period with used cars prices dropping is literally the dumbest thing you can do. 

I have 10K miles on a 2020 Lexus. 

Resale value will hold for a while. 

 

33 minutes ago, iladelphxx said:

I have 10K miles on a 2020 Lexus. 

Resale value will hold for a while. 

 

Values have already started to come down. You have already lost money. Sure it’s a nice car with low miles but you could have gotten more for it a couple months ago. Unless you paid cash for it, you are now paying interest on it because no one gives out 0 percent on used cars. No matter how good you think you are manufacturers and banks don’t give out 0 percent for lease buyouts. 
 

So you aren’t getting the full value that you could have and you are paying more money on the car if you took out a loan. Shrewd negotiating. 

21 hours ago, iladelphxx said:

They've already started floating a by the mile tax. 

I also see an increase in toll roads. 

I wouldn't be surprised if every Interstate and major State highway becomes a toll road 

https://www.2news.com/california-lawmakers-propose-per-mile-tax-for-drivers/article_9366d9f4-0fb0-5646-a433-361375d9af63.html

 

I foresee a lot of push back against doing a "by the mile” tax.   I think you’d see a lot of people saying it’s an invasion of privacy, gov overreach, slippery slope, etc… with government keeping track of how many miles you drive. Though they would vary by region.  Probably a better chance of getting g something like that passed in a state like NY or California as compared to southern states. 

ideally, that would probably be the fairest way to do it.  

 

8 hours ago, 20dawk4life said:

Values have already started to come down. You have already lost money. Sure it’s a nice car with low miles but you could have gotten more for it a couple months ago. Unless you paid cash for it, you are now paying interest on it because no one gives out 0 percent on used cars. No matter how good you think you are manufacturers and banks don’t give out 0 percent for lease buyouts. 
 

So you aren’t getting the full value that you could have and you are paying more money on the car if you took out a loan. Shrewd negotiating. 

 

8 hours ago, 20dawk4life said:

Values have already started to come down. You have already lost money. Sure it’s a nice car with low miles but you could have gotten more for it a couple months ago. Unless you paid cash for it, you are now paying interest on it because no one gives out 0 percent on used cars. No matter how good you think you are manufacturers and banks don’t give out 0 percent for lease buyouts. 
 

So you aren’t getting the full value that you could have and you are paying more money on the car if you took out a loan. Shrewd negotiating. 

Inventory sucks, as do the current lease deals. 

 

This the same make/model with similar miles to mine and the current price is about the same as the sticker price of the car I leased back in 2019 

I did a 39 month lease with first payment down and paid $427 a month. Residual buyout was $24K 

Combining all of the payments, plus the down payment, plus the buyout, plus tax, tags, etc I paid $41,080. 

I've seen them selling for more than that all day 

The dealership was begging me to turn it in because they knew they would make a killing off of it for selling it pre-owned. 

Even if I only sell or trade it for $30K next year, that means I only paid $12K over 4 years for the car. 

8 hours ago, Phillyterp85 said:

I foresee a lot of push back against doing a "by the mile” tax.   I think you’d see a lot of people saying it’s an invasion of privacy, gov overreach, slippery slope, etc… with government keeping track of how many miles you drive. Though they would vary by region.  Probably a better chance of getting g something like that passed in a state like NY or California as compared to southern states. 

ideally, that would probably be the fairest way to do it.  

 

Is this a federal or state tax? I live in PA, work in NY and my commute is 50 miles one way (15 PA miles and 35 in NY) I drive county and state roads, what would the tax go towards? 

31 minutes ago, GreenReaper said:

Is this a federal or state tax? I live in PA, work in NY and my commute is 50 miles one way (15 PA miles and 35 in NY) I drive county and state roads, what would the tax go towards? 

Federal is being floated 

https://www.businessinsider.com/pete-buttigieg-proposal-tax-drivers-mileage-mile-vmt-infrastructure-2021-4

11 hours ago, GreenReaper said:

Is this a federal or state tax? I live in PA, work in NY and my commute is 50 miles one way (15 PA miles and 35 in NY) I drive county and state roads, what would the tax go towards? 

So currently there are federal gas taxes and state gas taxes. So we’d have to replace both.
The current federal gas tax rate is 18.3 cents per gallon.  State gas tax rates obviously vary by state.

Revenues from the federal gas tax go into the Highway Trust Fund.  These funds are then used to pay for infrastructure projects on US routes.

Revenues from your state gas tax go into the your states funding coffer (in PA it’s called the motor license fund).  And then those revenues are used to fund infrastructure projects on State routes (and potentially other things, depending on how your states fund is set up.  For instance in PA, the motor license fund is also used to partially fund the PA State police budget).

And then there’s toll roads which get their funding either partially or wholly through tolls.  I can’t speak to every state, but in PA, the Pennsylvania Turnpike Commission manages the tolled interstates, and 100% of their revenue comes from tolls.  They don’t get any revenue from the gas tax.  In fact, they give (and have been giving) PennDOT hundreds of millions of dollars every year from their toll collections (a practice which will soon be ending).

15 minutes ago, NOTW said:

We all got these in the form of emergency alerts on our phones yesterday (the outside temperature was 115):