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Need + Reward: Another Car Thread

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  • Need + Reward: Another Car Thread

    Background: https://www.whitecoatinvestor.com/forums/topic/losing-resolve-a-polar-vortex-story/

    Summary: it took several months to get here but I've accepted that I need to buy an AWD vehicle. I live in one of the coldest cities in the country (it's June 17th and I'm wearing wool socks and a sweatshirt) and even more, after ^ experience every time I got behind the wheel of my Honda Fit I was terrified.

    We're coming up on one year DWT (done with training). These numbers are a month old but in the year we have gone from $ - 241,000 NW to $ - 70,000.  Shocked and delighted reading the recent Net Worth thread: including all assets (jewelry and instruments) we actually have a $0 Net Worth !!!!!

    A handful of instruments and earrings won't do much for me in this situation so I'll stick to my old method. September 1st several things will align

    1. I'll have the cash to purchase a gently used compact SUV
    2. debts + savings ONLY we'll be at $0 NW
    3. I turn 33
    4. He'll receive his first bonus, all of which will go towards accelerating student loan payoff and saving for retirement.

    (I already have an EF established and with bonuses will exceed 20% savings rate)

     

    Here is where I seek wisdom from the frugal chiefs and finance wizards of this forum. I've owned two cars, both of which were given to me. I do like cars, probably more than most women, but the expense has always pained me enough to accept whatever was bequeathed to me for free. I've done a fair amount of research / navel gazing. I want to choose a car that will last a long time, and not cost an arm and a leg to maintain. My frugal side says to buy a CRV or Rav4. The newest models are pretty slick. But you know what's slicker? Acura RDX and Lexus UX. Somewhat status vehicles. (The X1 is cool as ************************ and the perfect size but I've all but ruled out BMW and Audi for maintenance costs.) OTOH I've always looked forward to the moment when I could buy a car that I want.  The CRV and Rav4 are neither cool nor sexy. Do I deserve to upgrade to a luxury(ish) vehicle? $0 NW isn't much to write home about. But then, if I drop the cash on a car I'm not all that jazzed about will I want to make another purchase in a couple years?

    Continue delaying gratification or place my bet that if I buy what I want I'll keep it longer?

  • #2
    Rav4 Hybrid.

    Separate set of winter tires/wheels.

     

    Done.

    Comment


    • #3
      At your age, you aren't going to keep a compact SUV for 10 years.  You will want something bigger in less than 5 years - likely 3.  If you're buying a 10-15 year car, get the toyota highlander or lexus RX.  If you want a compact SUV, get a used rav4 and trade up when you're ready.  Don't fool yourself into thinking a lexus UX is the car for the long term.  It's not.

      Comment


      • #4
        I have been incredibly happy with a Subaru outback.  I have heard equally good things about the smaller models as well.  I get snow tired for our minivan but the Subaru can plow through anything.  Remember though when it comes to stopping the only thing that matters is the tires.

        Drive Safe.

        Comment


        • #5
          you need reliable transportation. a gently used compact suv paid for in cash is fine.

          living in the great North as we do really affects these things. you don't need AWD/4WD until you do and then you really need it.

          personally i think you are best off doing the Highlander for 5 years and then making the Lexus move. you really need to push a pencil through the opportunity cost of that money at such a young age.

          Comment


          • #6




            At your age, you aren’t going to keep a compact SUV for 10 years.  You will want something bigger in less than 5 years – likely 3.  If you’re buying a 10-15 year car, get the toyota highlander or lexus RX.  If you want a compact SUV, get a used rav4 and trade up when you’re ready.  Don’t fool yourself into thinking a lexus UX is the car for the long term.  It’s not.
            Click to expand...


            Do tell, why will I be wanting a bigger vehicle in a couple years?

            Comment


            • #7




              you need reliable transportation. a gently used compact suv paid for in cash is fine.

              living in the great North as we do really affects these things. you don’t need AWD/4WD until you do and then you really need it.

              personally i think you are best off doing the Highlander for 5 years and then making the Lexus move. you really need to push a pencil through the opportunity cost of that money at such a young age.
              Click to expand...


              Isn't the Highlander massive? I'm 5 feet tall. When I drive my husband's Forester I have to push the seat as far forward as possible. The height / length proximity has never felt right. The times I've had to drive larger vehicles my heels don't even touch the floor.

              Comment


              • #8
                I have a friend in Rapid City SD who just bought a WRX and loves it. Says the backseats are pretty nice and he has a steep driveway that makes me squeamish but gives him no problems. My family has had good luck with Subarus, both Outbacks and Foresters.

                Comment


                • #9







                  you need reliable transportation. a gently used compact suv paid for in cash is fine.

                  living in the great North as we do really affects these things. you don’t need AWD/4WD until you do and then you really need it.

                  personally i think you are best off doing the Highlander for 5 years and then making the Lexus move. you really need to push a pencil through the opportunity cost of that money at such a young age.
                  Click to expand…


                  Isn’t the Highlander massive? I’m 5 feet tall. When I drive my husband’s Forester I have to push the seat as far forward as possible. The height / length proximity has never felt right. The times I’ve had to drive larger vehicles my heels don’t even touch the floor.
                  Click to expand...


                  ha, i mean the highlander is very much a compact suv. toyota has a full size (4R) and a massive one (Sequoia) above it.

                  i've never driven one, i think most vehicles can be rendered workable for shorter drivers but not my world so not sure

                  Comment


                  • #10
                     




                    I’ve done a fair amount of research / navel gazing. I want to choose a car that will last a long time, and not cost an arm and a leg to maintain. My frugal side says to buy a CRV or Rav4. The newest models are pretty slick. But you know what’s slicker? Acura RDX and Lexus UX. Somewhat status vehicles. (The X1 is cool as ************************ and the perfect size but I’ve all but ruled out BMW and Audi for maintenance costs.) OTOH I’ve always looked forward to the moment when I could buy a car that I want.  The CRV and Rav4 are neither cool nor sexy. Do I deserve to upgrade to a luxury(ish) vehicle? $0 NW isn’t much to write home about.
                    Click to expand...


                    Buy them if you like them, if you think they look good, if you like the features/options, if it makes you feel good, but not because you think they will impress anyone else.

                    Generally speaking, entry-level luxury is about as non-status/anti-status as it gets.  IMO, the Acura RDX in particular just screams middle-middle class.  With luxury cars, buying the small one looks like, if anything, you cheaped out, or, worse, you couldn't afford the bigger one.  Of course that's ridiculous, and you may not even want a bigger car, but that's the perception nevertheless.

                    Keep in mind that as doctor's wife, especially now as an attending, the people you are trying to impress all likely now have more money than you, or at the very least have been used to spending a lot more money than you are for awhile now.

                    However I wouldn't say that the Acura and Lexus aren't good vehicles.  And you may be able to shop hard and buy one for a decent price compared to, e.g., a loaded Rav4.

                    If you get the Rav4 with the options you want, it'll last as long as you want it to.  Once you have the net worth to be able to easily justify the "luxury" purchase, chances are you probably won't be that impressed by it anymore.  Personally I think a new Rav4 is more impressive than a Lexus UX or NX.

                    Comment


                    • #11




                      I have been incredibly happy with a Subaru outback.  I have heard equally good things about the smaller models as well.  I get snow tired for our minivan but the Subaru can plow through anything.  Remember though when it comes to stopping the only thing that matters is the tires.

                      Drive Safe.
                      Click to expand...


                      Having driven a Subaru in college because my dad wouldn't let me have a pick-up, I can assure you that Subarus cannot plow through anything. I crossed a river last month in my Sequoia. I had a lot of water splashing/running over the hood for a few seconds. That would have been over the roof of a Subaru. It is also hard to handle a lot of mud or sand in those skinny Subaru tires. In deep unplowed snow, they are also less than ideal. Very easy to high center. But will they get you up the ski resort on a paved but snowy/icy road? Sure.
                      Helping those who wear the white coat get a fair shake on Wall Street since 2011

                      Comment


                      • #12




                         




                        I’ve done a fair amount of research / navel gazing. I want to choose a car that will last a long time, and not cost an arm and a leg to maintain. My frugal side says to buy a CRV or Rav4. The newest models are pretty slick. But you know what’s slicker? Acura RDX and Lexus UX. Somewhat status vehicles. (The X1 is cool as ************************ and the perfect size but I’ve all but ruled out BMW and Audi for maintenance costs.) OTOH I’ve always looked forward to the moment when I could buy a car that I want.  The CRV and Rav4 are neither cool nor sexy. Do I deserve to upgrade to a luxury(ish) vehicle? $0 NW isn’t much to write home about.
                        Click to expand…


                        Buy them if you like them, if you think they look good, if you like the features/options, if it makes you feel good, but not because you think they will impress anyone else.

                        Generally speaking, entry-level luxury is about as non-status/anti-status as it gets.  IMO, the Acura RDX in particular just screams middle-middle class.  With luxury cars, buying the small one looks like, if anything, you cheaped out, or, worse, you couldn’t afford the bigger one.  Of course that’s ridiculous, and you may not even want a bigger car, but that’s the perception nevertheless.

                        Keep in mind that as doctor’s wife, especially now as an attending, the people you are trying to impress all likely now have more money than you, or at the very least have been used to spending a lot more money than you are for awhile now.

                        However I wouldn’t say that the Acura and Lexus aren’t good vehicles.  And you may be able to shop hard and buy one for a decent price compared to, e.g., a loaded Rav4.

                        If you get the Rav4 with the options you want, it’ll last as long as you want it to.  Once you have the net worth to be able to easily justify the “luxury” purchase, chances are you probably won’t be that impressed by it anymore.  Personally I think a new Rav4 is more impressive than a Lexus UX or NX.
                        Click to expand...


                        Well said. I'm in the middle of teaching but to be clear I'm considering a compact SUV as a concession. I really would prefer a sedan but most sedans don't have seats that fold flat and my husband has convinced me even a small SUV will do better in the snow. I am not into big cars nor am I a big person. As I responded to MPMD, I'm right at 5ft tall. It's not uncommon 4th and 5th graders are taller than me. When I drive my husband's Forester I pull the seat as far forward as possible and it still doesn't sit right. I can absolutely see where you're coming from but I don't think I would ever consider one bigger than these. You know, so short people joke about having to sit on phone books? That's me.

                        Comment


                        • #13
                          How much snow are we talking about driving through? Are your roads well plowed/salted? What does husband drive?

                          Comment


                          • #14
                            As WCI notes many of these compact "suvs" are actually no higher than cars and are built on car frames. The AWD will help of course but just depends on how much volume you're having to plow through. Bought 4wd Tacoma for said purpose though infrequent here

                            Comment


                            • #15
                              I prefer the Subaru to the Rav 4 or crv. Those bigger SUVs are a different class of vehicle.
                              I guess I should have suggested the snow cat

                              https://images.app.goo.gl/aveHmHPWzJVx16ZG6

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