Shopping for a car -- a personal view
We need another car and it's my mission of the month to buy one. It's not so simple. There are so many variables, so many things to consider, some old, some new.
Here's the situation. First, we have four drivers and two cars. That could be called one and a half cars since one of them just had its 11th birthday, has over 100,000 miles on it, and has a very firm ride. No one likes it but me and the young adults will drive it only out of dire necessity. My wife drives it frequently but with a certain degree of anxiety. Second, while one young adult is at college and one lives in New York City, when they are here or when they take a trip, they take a car whenever they need it and this is somehow not a subject for discussion. We like them. Car number two is nearing six years old and while in great shape and fun to drive, it is small and is no spring chicken.
So the hunt for a new car has begun. From showroom to showroom I go. Here are the variables and issues that go through my mind:
GAS CONSUMPTION AND THE ENVIRONMENT - this was not on my mind at any time in the past when purchasing a car. In fact, while being aware of gas mileage, I always looked for powerful cars. The rationale was that it they were much safer to drive on New York expressways, getting on and off ramps, and changing lanes. That's true, but the fact is that I really like them. Yesterday in car number two, in leaving a KFC parking lot that was conveniently located near a car dealership that I was visiting, I needed to take a left turn across three lanes of traffic, no stoplight coordinating, on a road with a 50 mile an hour speed limit. I waited, waited, saw the opening and hit the gas. Purchased with my old mentality, the car crossed the lanes like a rocket and I was safe. I was also happy.
Now, however, looking at cars from that perspective, I feel like the E-trade baby when he says "it seems like that kind of behavior is frowned upon in this establishment." The thought leader on this is my older daughter who is very intelligent, strongly opinionated, and judgmental(I have no idea where that came from). Thrift on gas and thoughts about the environment are issues that I now need to keep in mind, whether to oblige or get around them.
SIZE - Of course the models that have the best gas mileage are often little tin cans that one would not choose to drive on major expressways in this area, if that one is me. More importantly, the hybrids seem to come two ways - in small cars that I do not fit into and in big cars that are incredibly expensive. I sat in a small Lexus hybrid yesterday which of course seemed relatively nice, but with the seat all the way down my sight line was into the visor(I am about 6'3" tall). I looked at big hybrids but did not even bother to get in the Lexus 600 or the Infiniti M after looking at the sticker. Even those small hybrids that manage to have a sight line that allows road vision are not big enough to be comfortable in on a long trip or to go pick up your kid's college stuff.
SHOWROOM - Showrooms are particularly dangerous places. Everything looks out of perspective. "When It's Strange" comes to mind. I am following the policy of going to showrooms with absolutely no possibility of making any immediate commitment. Two days ago visiting an Acura showroom, there was this Special Edition TSX that was really tricked out nicely and "what a beauty" was my thought. I sat in it, talked with the salesman about it, and agreed that I should probably come for a test ride. After leaving, I was less than a mile away from the dealership when it hit me with absolute certainty that the car was far too small.
My dear departed father was the opposite, which since I am genetically related of course is a reason that I try to be cautious. Here's an example. In 1960, when I was 11, on a Saturday morning when he was particularly upbeat, he announced that we would have shrimp cocktail that night, a special deal for us, a splurge. Several hours later he came back driving a giant new lime green Ford with fins, three on column, and no radio. He had gone into the showroom, traded in our beloved 1953 Chevy, and came home with a surprise. Such was the case with every car he ever bought. It is unclear whether any salesmen were ever injured trying to get to him first when he walked in.
While there are more stories that are humorous at this point, I must remember that one day when out of nowhere he drove home in a 1950's vintage Triumph Herald convertible that he had picked up for $400 at a used car lot. I was 16 at the time and that was a great day.
IS IT UNIQUE IN SOME WAY - this is one of the qualities that perhaps irrationally is attractive. A car will stay with us for a long time. Shouldn't it have some quality that allows one to identify it in a parking lot without checking for college stickers or license plate numbers. That's what got me excited about the Acura that was too little. I guess that's what the culture of wheel rims is about but I'm looking for something else and will know it when I see it.
TEST RIDES - I am trying to avoid test rides at this point while still being polite. Test rides can be extremely valuable in making a final decision but they can be a big waste of time if done indiscriminately. A test ride was pretty much forced on me at the Volvo dealership yesterday. I liked the salesman, my age, originally from Montreal, had lived in the Piedmont working the textile business etc. Almost immediately as the drive began I knew it was a waste of time. He kept up a constant patter of "don't you like this" type of stuff and I tried to politely answer until we were back safely in the lot, when I was honest - "too much torque pull, loosey goosey steering, and a suspension that Ford during their ownership must have taken from the Taurus, it no longer feels like a European car." From now on I will only take test rides when certainty of interest is clear.
SALESMEN - For the most part, salesmen(or women) are one of the biggest obstacles to buying a car. Most are fairly transparent and only mildly annoying, and they are just trying to make a salary for themselves and their family. A few can be terribly obnoxious and then there are are some, the really dangerous ones, that are actually charming, expert at what they do, and ready to take advantage of any misstep.
At both the Infiniti and Honda dealerships in our immediate town, a sales manager at the former and a salesman at the latter, treated me in such a patronizing way that I broke off the conversations and walked out saying "I don't feel comfortable here". The Infiniti sales manager was a big tall oaf with a crewcut and he kept putting his hand on my back and starting off sentences with "Don't you know that..." as in "Don't you even know that..." I think that perhaps the reason for these receptions in my town is that I don't dress up to go car shopping. I just wear my daily uniform of jeans, casual shirts, and outdoors wear jackets, not even all new stuff.
PRICE - this an important variable not only in the present but also in the future. Feeling as if you've overpaid is one of those things that sticks around. That's one aspect of price. The other that is always in my mind is marginal cost. In other words, if buying one car that seems attractive and is x price, it could be compared to a more attractive car at a higher y price, and that extra amount, the marginal cost, is all that I am really paying for the better car. How's that for expert rationalization.
Here's the origin of that supposed lesson. In the third car purchase of my life in 1975, I needed to trade in a functional, no fun, and balky Ford Maverick for something better. I ended up buying a sporty little Toyota Celica, five speed stick, not a bad motor, and much better quality and more fun than what I had been driving. The price was $3200, money that was mostly borrowed. Good for me right, but for $4300 I could have bought a BMW 2002 that would have been so much more fun, had so much more resale value, and lasted for at least 15 years. The money was all borrowed anyway, and I could have found a way to make it work with some thoughtful stretching out of my limited budget. That choice that I made came to be regretted often.
GOLDEN YEARS - Whenever purchasing cars in the past, I was either gainfully employed or doing well enough with some annuity investments and the market headwinds at my back. I was also not in my sixties. Now any decision is intertwined with long term thoughts of savings adequacy, the cost of supplementing the incomes of young adults, three more years of college for one, and everything the Golden Years entail.
Having worked in financial services for 24 years, the events of 2008/2009 didn't exactly surprise me, but the severity of the event was alarming. Timing is everything my bones said to me. This kind of stuff, dot com bubble popping, '98 LTCM precipatated credit and market near freeze up, '90-'92 recession, '87 market crash, all of them can be put much more into perspective when one has an ongoing job that is producing new non investment related money. This cannot help but be in my mind as I make a decision. Not to be profligate but still invest wisely in a long term asset that we like, that's the goal. Can I restrain myself and do that.
Anyone who has stuck with this for this entire personal self-analysis on car buying is to be congratulated. As they say in some places, it's been a big help to me.
Here's the situation. First, we have four drivers and two cars. That could be called one and a half cars since one of them just had its 11th birthday, has over 100,000 miles on it, and has a very firm ride. No one likes it but me and the young adults will drive it only out of dire necessity. My wife drives it frequently but with a certain degree of anxiety. Second, while one young adult is at college and one lives in New York City, when they are here or when they take a trip, they take a car whenever they need it and this is somehow not a subject for discussion. We like them. Car number two is nearing six years old and while in great shape and fun to drive, it is small and is no spring chicken.
So the hunt for a new car has begun. From showroom to showroom I go. Here are the variables and issues that go through my mind:
GAS CONSUMPTION AND THE ENVIRONMENT - this was not on my mind at any time in the past when purchasing a car. In fact, while being aware of gas mileage, I always looked for powerful cars. The rationale was that it they were much safer to drive on New York expressways, getting on and off ramps, and changing lanes. That's true, but the fact is that I really like them. Yesterday in car number two, in leaving a KFC parking lot that was conveniently located near a car dealership that I was visiting, I needed to take a left turn across three lanes of traffic, no stoplight coordinating, on a road with a 50 mile an hour speed limit. I waited, waited, saw the opening and hit the gas. Purchased with my old mentality, the car crossed the lanes like a rocket and I was safe. I was also happy.
Now, however, looking at cars from that perspective, I feel like the E-trade baby when he says "it seems like that kind of behavior is frowned upon in this establishment." The thought leader on this is my older daughter who is very intelligent, strongly opinionated, and judgmental(I have no idea where that came from). Thrift on gas and thoughts about the environment are issues that I now need to keep in mind, whether to oblige or get around them.
SIZE - Of course the models that have the best gas mileage are often little tin cans that one would not choose to drive on major expressways in this area, if that one is me. More importantly, the hybrids seem to come two ways - in small cars that I do not fit into and in big cars that are incredibly expensive. I sat in a small Lexus hybrid yesterday which of course seemed relatively nice, but with the seat all the way down my sight line was into the visor(I am about 6'3" tall). I looked at big hybrids but did not even bother to get in the Lexus 600 or the Infiniti M after looking at the sticker. Even those small hybrids that manage to have a sight line that allows road vision are not big enough to be comfortable in on a long trip or to go pick up your kid's college stuff.
SHOWROOM - Showrooms are particularly dangerous places. Everything looks out of perspective. "When It's Strange" comes to mind. I am following the policy of going to showrooms with absolutely no possibility of making any immediate commitment. Two days ago visiting an Acura showroom, there was this Special Edition TSX that was really tricked out nicely and "what a beauty" was my thought. I sat in it, talked with the salesman about it, and agreed that I should probably come for a test ride. After leaving, I was less than a mile away from the dealership when it hit me with absolute certainty that the car was far too small.
My dear departed father was the opposite, which since I am genetically related of course is a reason that I try to be cautious. Here's an example. In 1960, when I was 11, on a Saturday morning when he was particularly upbeat, he announced that we would have shrimp cocktail that night, a special deal for us, a splurge. Several hours later he came back driving a giant new lime green Ford with fins, three on column, and no radio. He had gone into the showroom, traded in our beloved 1953 Chevy, and came home with a surprise. Such was the case with every car he ever bought. It is unclear whether any salesmen were ever injured trying to get to him first when he walked in.
While there are more stories that are humorous at this point, I must remember that one day when out of nowhere he drove home in a 1950's vintage Triumph Herald convertible that he had picked up for $400 at a used car lot. I was 16 at the time and that was a great day.
IS IT UNIQUE IN SOME WAY - this is one of the qualities that perhaps irrationally is attractive. A car will stay with us for a long time. Shouldn't it have some quality that allows one to identify it in a parking lot without checking for college stickers or license plate numbers. That's what got me excited about the Acura that was too little. I guess that's what the culture of wheel rims is about but I'm looking for something else and will know it when I see it.
TEST RIDES - I am trying to avoid test rides at this point while still being polite. Test rides can be extremely valuable in making a final decision but they can be a big waste of time if done indiscriminately. A test ride was pretty much forced on me at the Volvo dealership yesterday. I liked the salesman, my age, originally from Montreal, had lived in the Piedmont working the textile business etc. Almost immediately as the drive began I knew it was a waste of time. He kept up a constant patter of "don't you like this" type of stuff and I tried to politely answer until we were back safely in the lot, when I was honest - "too much torque pull, loosey goosey steering, and a suspension that Ford during their ownership must have taken from the Taurus, it no longer feels like a European car." From now on I will only take test rides when certainty of interest is clear.
SALESMEN - For the most part, salesmen(or women) are one of the biggest obstacles to buying a car. Most are fairly transparent and only mildly annoying, and they are just trying to make a salary for themselves and their family. A few can be terribly obnoxious and then there are are some, the really dangerous ones, that are actually charming, expert at what they do, and ready to take advantage of any misstep.
At both the Infiniti and Honda dealerships in our immediate town, a sales manager at the former and a salesman at the latter, treated me in such a patronizing way that I broke off the conversations and walked out saying "I don't feel comfortable here". The Infiniti sales manager was a big tall oaf with a crewcut and he kept putting his hand on my back and starting off sentences with "Don't you know that..." as in "Don't you even know that..." I think that perhaps the reason for these receptions in my town is that I don't dress up to go car shopping. I just wear my daily uniform of jeans, casual shirts, and outdoors wear jackets, not even all new stuff.
PRICE - this an important variable not only in the present but also in the future. Feeling as if you've overpaid is one of those things that sticks around. That's one aspect of price. The other that is always in my mind is marginal cost. In other words, if buying one car that seems attractive and is x price, it could be compared to a more attractive car at a higher y price, and that extra amount, the marginal cost, is all that I am really paying for the better car. How's that for expert rationalization.
Here's the origin of that supposed lesson. In the third car purchase of my life in 1975, I needed to trade in a functional, no fun, and balky Ford Maverick for something better. I ended up buying a sporty little Toyota Celica, five speed stick, not a bad motor, and much better quality and more fun than what I had been driving. The price was $3200, money that was mostly borrowed. Good for me right, but for $4300 I could have bought a BMW 2002 that would have been so much more fun, had so much more resale value, and lasted for at least 15 years. The money was all borrowed anyway, and I could have found a way to make it work with some thoughtful stretching out of my limited budget. That choice that I made came to be regretted often.
GOLDEN YEARS - Whenever purchasing cars in the past, I was either gainfully employed or doing well enough with some annuity investments and the market headwinds at my back. I was also not in my sixties. Now any decision is intertwined with long term thoughts of savings adequacy, the cost of supplementing the incomes of young adults, three more years of college for one, and everything the Golden Years entail.
Having worked in financial services for 24 years, the events of 2008/2009 didn't exactly surprise me, but the severity of the event was alarming. Timing is everything my bones said to me. This kind of stuff, dot com bubble popping, '98 LTCM precipatated credit and market near freeze up, '90-'92 recession, '87 market crash, all of them can be put much more into perspective when one has an ongoing job that is producing new non investment related money. This cannot help but be in my mind as I make a decision. Not to be profligate but still invest wisely in a long term asset that we like, that's the goal. Can I restrain myself and do that.
Anyone who has stuck with this for this entire personal self-analysis on car buying is to be congratulated. As they say in some places, it's been a big help to me.
posted by John Borden at 6:14 PM
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