Need Financial Advice/Opinion on a trading in my 04 TDI for a 2010 TDI

[cyrus buelton]

Odd I am asking this as I do corporate finance/treasury for a living, so I am very good at financial matters, both work related and personal.

I just paid off my Lexus (About 10mins ago) two years early  . Very proud of that as it was my goal to keep with my personal savings and extra money saved to pay off early as the interest rate sucked on a used car. I have a very very high FICA score and the best rate I could get was 8%.

Anyway.......

My 2004 Jetta TDI has 83k on the clock. We've had two rust repairs (covered by warranty) and a few other factory covered crap. We are approaching a high service cost interval and most importantly.........we got run off the road back in January by a make the beast with two backsing cab, hopped a curb, ran over some little trees, etc. All cosmetic, but ever since........the car just doesn't drive right. It is just different and we don't like it.

Therefore, based on the above, I have started to look at dumping the car (after reading, 2004's had some issues) and buying a new 2010 Jetta TDI. The engine is better, much better options, larger trunk, and bigger backseat (not really sure on dimensions verse mine, but it looks  bigger).

I have two high level connections at two VW dealers in the area, so I am working with both and pitting them up against each other (yeah, scum bag move.......but that is how you negotiate cars). I will have the numbers from one dealer tomorrow afternoon and then the other when I visit tomorrow evening.

After speaking with Dealer #2, he was very excited about my 2004 TDI to get on his used car lot, so he might give me more on the trade verse Dealer #1. I realize I have to separately negotiate trade verse pricing.

As for sticker price......I won't pay it. I want invoice or below (having contacts that I fortunately have are great. I've helped out a few friends with new vehicles and the pricing that got was phenomal. So if anyone in Ohio is pot committed to buying a new vehicle, contact me and we can work on it. There is no wishy-washy on this. Once the process is started, you have to buy the car, if you don't........it will piss my cousin off as I vouched for a friend and he potentially loses a contact)

So the question is................what do I do?

I know cars are not investments, they are money pits.

This new Jetta kicks ass. The motor is light years ahead of my current one, oil change intervals are longer (VW says 10k....but I think that is too long), integrated touch screen media with bluetooth, media card insert for music and an auxiliary jack to directly plug a 3.5mm jack in for I-pod (wife) and blackberry (for me).

One cool thing is the power steering is now all electronic, not fluids, etc like standard power steering. It is pretty wild.

The car "Engine Brakes" a lot, which is nice as it will save on rotors and pads. I also love the fact it has 230 ft lbs of torque!!! This make the beast with two backser is fast.

Also..........I am buying this for my wife. She has never had a new car in her life, she has progressed so far in her career, and she is going to graduate college this winter. She deserves something for all her hard work and also putting up with me.

0% financing on 2010 models.

Trading in TDI and also throwing down a sizeable down payment to get my monthly loan to where I want it, or I might just pay straight wire transfer cash for it. I haven't decided.


So the rambling is ending...........

1. Good Financial Decision?
2. Bad Financial Decision?
3. Reasoning?
4. I am fully aware of buying new is shit, etc etc etc.

Talked to my Dad and he said it was a dumb financial decision even after I gave the full rational of why I am inquiring into it, but then again.......he has made some bonehead moves over the years with vehicles.

Here are some decent blackberry photos I took of the vehicle. It is fully loaded, 17in rims, sport package, etc. All it needs is a window tinting.

[Popeye the Sailor]

Bad financial decision. I thought you wanted to buy a house, and here you're looking at shiny new cars?

A lot of the things you mention could be had easily in an older TDI-a chip will run about $300 and give it much more oomph, a new deck will give you your ipod hookup (though, there's is a way to hook one up to any car for about $20). I'm not sure I'd consider touchscreen positive on a moto forum 


Also, why pay the premium for the diesel if you think 83K is trade-in worthy? It should be barely broken in. If the driveability is the major complaint, find a proper shop to check out the car-they should be able to fix it easily.


You already know the answer, you're just liking the shiny. make the beast with two backs that.

[cyrus buelton]

Bad financial decision. I thought you wanted to buy a house, and here you're looking at shiny new cars?

A lot of the things you mention could be had easily in an older TDI-a chip will run about $300 and give it much more oomph, a new deck will give you your ipod hookup (though, there's is a way to hook one up to any car for about $20). I'm not sure I'd consider touchscreen positive on a moto forum 


Also, why pay the premium for the diesel if you think 83K is trade-in worthy? It should be barely broken in. If the driveability is the major complaint, find a proper shop to check out the car-they should be able to fix it easily.


You already know the answer, you're just liking the shiny. make the beast with two backs that.

Purchasing a house is in the 2-3 year time frame.


Not liking the shiny.......I won't even be driving this car.

I am not concerned about the power.....I am not a car gearhead that gives a shit about that.

I was looking at the issues we've had with this car and the financial implications it will cost us in the long run.

As I mentioned, I had A LOT of warranty work done it when it was covered and then out of pocket when that expired.

My concern is the more miles that get socked on it, the less it is worth, and the more money I dump into it.

You already know the answer, you're just liking the shiny. make the beast with two backs that.

That's a pretty interesting line coming from a guy who hates luxury cars, but just bought one for you Mom (Awesome gift if that is what Momma really wanted)

[Popeye the Sailor]

Purchasing a house is in the 2-3 year time frame.

Not liking the shiny.......I won't even be driving this car.

You've taken pictures of it and gushed over the accessories. If you just wanted something that drove fine, you could get a 5 year old Toyota.

I also love the fact it has 230 ft lbs of torque!!! This make the beast with two backser is fast.

I am not concerned about the power.....I am not a car gearhead that gives a shit about that.

Dude. Pick one.

I was looking at the issues we've had with this car and the financial implications it will cost us in the long run.

As I mentioned, I had A LOT of warranty work done it when it was covered and then out of pocket when that expired.

My concern is the more miles that get socked on it, the less it is worth, and the more money I dump into it.

If you had to sink so much into the last one, why one earth would you buy another? The depreciation you'd take on this other car would be how many grand? How much maintenance would the old one need to even catch up?

That's a pretty interesting line coming from a guy who hates luxury cars, but just bought one for you Mom (Awesome gift if that is what Momma really wanted)

I do hate luxury cars-I also bought a 12 year old one with 77k on it for my mother.

The Incredible grocery getter is a 2001 Toyota 4runner, bought used.

[herm]

as mentioned, 83k is just getting broken in for a diesel. what a waste.

Is it paid for? if so, why in the world would you want to add another car payment? think about all the other things you could do with the money. dont get sucked in with the "good rates" trap...they will still be there when you really need a new car.

after all that, if you are set on getting a new car,....skip the diesel. the jetta already gets pretty good mileage. paying the up front cost for a diesel is a bad decision unless you plan to drive the vehicle into the ground, or you need to pulling power (which of course you dont, because we are not talking trucks.)

[Randimus Maximus]

not sure why you are asking for advice on this forum.

[Grampa]

not sure why you are asking for advice on this forum.

boobies

[cyrus buelton]

Mr I - I was just mentioning the power difference between my 2004 and the newer diesel engine. It is completely different. I probably should have explained that so there was no confusion.

I like diesels as my wife drives 46mi round trip each day which is 1 gallon of diesel at 3$ a gallon.

The jetta the dealer gave us as a loaner is a 2.0 (Whatever that means...I guess a hopped up motor?), it gets 20mi on the highway.

Therefore, at gas being 2.65, multiply that by 2 to equal what I pay for 1 gallon of diesel. I consider that a big cost savings annualized.

I took pictures of it for my wife as I went alone to look at it while she was attending her college classes. I just posted them to share what the vehicle looks like. Yeah, I do like the accessories, but I can also live without them.

as mentioned, 83k is just getting broken in for a diesel. what a waste.

Is it paid for? if so, why in the world would you want to add another car payment? think about all the other things you could do with the money. dont get sucked in with the "good rates" trap...they will still be there when you really need a new car.

after all that, if you are set on getting a new car,....skip the diesel. the jetta already gets pretty good mileage. paying the up front cost for a diesel is a bad decision unless you plan to drive the vehicle into the ground, or you need to pulling power (which of course you dont, because we are not talking trucks.)

Yes, the TDI is paid for and the title resides in my lockbox at my bank.

My main concern is all the issues it has had and will continue to have as more miles and time passes.

The motor is fine.......bullet proof.

It is just a bunch of annoying little shit that I am sick of having fixed. My god, the thing has already had 2 rust repairs (warranty) and a new bumper due to a paint issue. I am meticulous about maintaining and washing my cars, so there is something drastically wrong with the finish of this one.

I've read similiar stories with 2004's having issues and they have been sorted and fixed on the newer ones.

main concern is the car devaluing to the point where it is worth shit or a drastic issue happens.

The transmission is already starting to act funky on it. A friend of mine had the same year, make, etc.

He had the tranny replaced 2 times before he got rid of it. It only had 110k on the clock.

Those are my concerns.

[cyrus buelton]

not sure why you are asking for advice on this forum.

[Randimus Maximus]

boobies

me likes them too!

[Kopfjager]

If your gonna get one, get the "TDI Cup Edition".  

[cyrus buelton]

^

whoa, that is cool!!!

probably out of my budget, though.

[Kopfjager]

^

whoa, that is cool!!!

probably out of my budget, though.

That model starts at 25, that one is 28.

[GAAN]

I dunno if you listen to anyone on here or of all your posts are simply bait

but

I'll take a nibble

In about 6 months I will have the titles to both my rigs

I hope to avoid buying another car ever again

I don't care if the damn thing flys and blows me at the same time

[Grampa]

here is my advice.....


* self edit ( I wrote a shit-ton of usefull advice then remembered something and deleted it all )