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Established Contributor
sccredit
Posts: 771
Registered: ‎09-14-2012

Possible new car

DW and I are considering consolidating 3 cars down to 2.

 

Our current line-up:

 

2011 Hyundai Santa Fe Limited

2013 Subaru Impreza

1999 Ford F150

 

We are buying a boat (cash purchase) and looking at selling the F150 for about $5k.  On top of that we're looking at trading in or selling the Santa Fe (about $3k-$5k in equity) and buying a larger SUV that can tow the boat (thus eliminating the need for the truck).

 

We're thinking about a new Explorer or Grand Cherokee, probably $35k or so.

 

If I trade in the Santa Fe, get $3k down, plus the $5k we sell the truck for, putting down about $8k I think it should be pretty easy.  Debating using DCU for the financing.  My concern is that I just bought the Subaru in January.

 

My stats:

 

Scores: EQ704, TU729, EX726

AAoA 4 Years

Current Income = $11k per month

Revolving Utilization = 1%

Current Subaru Open Auto $373 per month

Mortgage $2225 per month

 

Anyone see any issues?  Think I'd be OK with the purchase in January?

Mortgage $296k/$310k
Autos Loans $29k
Unsecured Lines $157.2k

Discover FICO 757
DCU FICO 744

Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: Possible new car

I think you should be good to go on the loan. How are you liking your Impreza? I bought a Legacy in February.

 

You should check out the Nissan Xterra, you can score a pretty good price on one. They tow surprisingly well. My uncle has a Grand Cherokee and my mom has an Xterra. The Xterra loaded down with a large loaded trailer was significantly faster than the Jeep. Plus the Xterra was getting better fuel mileage with the V6 vs the V8 in his jeep. I can't image how gutless the V6 Jeep would be.

 

If you are just mainly going for a tow rig, you should just get a decent used vehicle. I would suggest something like this: http://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?endYear=2014&zip=94121&keywordPhrases=P... Although, new cars sometimes make more sense. IE better financing and sometimes a better deal.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Established Contributor
Cageym
Posts: 507
Registered: ‎07-31-2012

Re: Possible new car

I just ordered a 2014 Grand Cherokee with the V8. They come standard with a V-6  (both V-6 and V-8 have an 8 speed auto standard for 2014, it increases the mileage about 2 mpg) that's rated at 25 MPG Hwy and the V8 is rated at 22. One thing you do need to look at is the weight of the boat. I got the class IV tow package included with the offroad adventure package (I'm getting the Limited) and it's rated at 7400 pounds. I'm not sure what the V6 can pull. If you go with the Eco-diesel you won't have a problem but remember it's a $4000 option and there is a fluid that has to be added every 10000 miles, which is why I didn't get it. The diesel is rated to tow as much as the V8, and mpg is around 30.

 

As far as the loan goes you should be good.


What's in my wallet: Cap1 Venture $10K NFCU Sig Visa $25k Amex Zync NPSL Delta Gold $18k BCE $2k Citi Simplicity $5450 Priority Select Visa 5.9K Amazon Visa 4k CSP 5k
Starting Score: 5/2010 550-ish
Current Score: 6/20/2013 TU 800 6/20/2013 EQ 770 6/20/2013 EX 775
Goal Score: 800 accross the board
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: Possible new car

Awwwwww....Didn't know they made a diesel. That is sweet. Get the diesel!

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Established Contributor
Cageym
Posts: 507
Registered: ‎07-31-2012

Re: Possible new car

3.0 Turbo diesel, made in Italy. But like I said, it has that urea- based diesel exhaust fluid so that the engine meets emissions standards. And it need replacement every 10,000 miles. MOre on it here: http://www.trucktrend.com/roadtests/suv/163_2014_jeep_grand_cherokee_diesel_first_drive/viewall.html


What's in my wallet: Cap1 Venture $10K NFCU Sig Visa $25k Amex Zync NPSL Delta Gold $18k BCE $2k Citi Simplicity $5450 Priority Select Visa 5.9K Amazon Visa 4k CSP 5k
Starting Score: 5/2010 550-ish
Current Score: 6/20/2013 TU 800 6/20/2013 EQ 770 6/20/2013 EX 775
Goal Score: 800 accross the board
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: Possible new car

[ Edited ]

Cageym wrote:

3.0 Turbo diesel, made in Italy. But like I said, it has that urea- based diesel exhaust fluid so that the engine meets emissions standards. And it need replacement every 10,000 miles. MOre on it here: http://www.trucktrend.com/roadtests/suv/163_2014_jeep_grand_cherokee_diesel_first_drive/viewall.html


It doesn't seem too costly. Just like an every other oil change type thing.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Established Contributor
Cageym
Posts: 507
Registered: ‎07-31-2012

Re: Possible new car

A couple of sites I looked at people took it in to be done and it was about $100 at the dealer.


What's in my wallet: Cap1 Venture $10K NFCU Sig Visa $25k Amex Zync NPSL Delta Gold $18k BCE $2k Citi Simplicity $5450 Priority Select Visa 5.9K Amazon Visa 4k CSP 5k
Starting Score: 5/2010 550-ish
Current Score: 6/20/2013 TU 800 6/20/2013 EQ 770 6/20/2013 EX 775
Goal Score: 800 accross the board
Established Contributor
sccredit
Posts: 771
Registered: ‎09-14-2012

Re: Possible new car

[ Edited ]

I didn't even know about the diesel, I'll do some research on that.  I'm looking at the Limited V8 with the class IV package.  Dustin - I like the XTerra but the wife does not.  As far as the Impreza, I love it but if I had to do it over again I would have bought the Legacy.  Thanks for your input guys.

Mortgage $296k/$310k
Autos Loans $29k
Unsecured Lines $157.2k

Discover FICO 757
DCU FICO 744

Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: Possible new car


sccredit wrote:

I didn't even know about the diesel, I'll do some research on that.  I'm looking at the Limited V8 with the class IV package.  Dustin - I like the XTerra but the wife does not.  As far as the Impreza, I love it but if I had to do it over again I would have bought the Legacy.***  Thanks for your input guys.


She could get used to it at half the price...haha

 

That diesel is pretty cool. 8 Speed auto paired with a torquey engine. You would have plenty of power and still good fuel mileage. Otherwise, I'm just not a big Grand Cherokee fan at such a high cost for what you get. If I wasn't paying for the gas I could get used to an SRT :smileyhappy:

 

If it is a small boat you can tow it with a Subaru. (Not likely advisable with the CVT) Haha, my last Impreza was a beast. Easily pulled a couple thousand pounds over mountain passes with no problem. I traded it in before the tranny ate itself. The 2014 Subaru XV Crosstrek Hybrid seems okay. Not sure how it is rated, but it can likely tow something small.

 

The diesel Jeep I would trust past the warranty period, otherwise I'd be worried after the warranty expired on a jeep.

 

***I got better fuel mileage on the testdrive with the Legacy than I did with the Impreza. That was going the same route. Although, the CVT in both worries me...Plus subaru's rattle from everywhere

 

So many good cars out there. Have her test drive lots before she/you settle on the jeep.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Established Contributor
TrishN
Posts: 505
Registered: ‎11-05-2012

Re: Possible new car

so the F150 can not tow the boat? i think it good to use the F150 to tow the boat and save some money :smileyvery-happy:

10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013

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