Electric Boat

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September 27th, 2022 at 1:45:56 PM permalink
DRich
Member since: Oct 24, 2012
Threads: 51
Posts: 4944
Quote: AZDuffman
Mostly what I do. My point is too many people accept car payments as part of life.


I will always accept a car payment as long it is at 0% interest.
At my age a Life In Prison sentence is not much of a detrrent.
September 27th, 2022 at 6:23:19 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: DRich
I will always accept a car payment as long it is at 0% interest.


I don't think they will sell a base trim at 0% (or very low) interest rate. I think most of the profit is in upper level trims and not in financing. A base level trim for the Subaru Impreza below has MSRP of $21,315 which when financed at 6 years at 2.99% annual interest costs $2K in interest. The automaker would gladly give up that interest if they could sell a $4K-$8K upgrade to a higher rim.


For model year 2013 Subaru figured out they could turn their 20 year old Impreza into an SUV named Crosstrek by increasing ground clearance by 3", and adding wheel cladding, fog lights etc, and another speed on the manual transmission. The cabin dimensions are identical as is the drive train

2023 MSRP including shipping Subaru
152hp Base $21,315 5MT Impreza 5-door
152hp Base $24,870 6MT Crosstrek
152hp Base $22,615 CVT Impreza 5-door
152hp Base $26,220 CVT Crosstrek

152hp Premium $24,715 CVT Impreza 5-door
152hp Premium $26,020 6MT Crosstrek
152hp Premium $27,370 CVT Crosstrek

152hp Sport $25,015 5MT Impreza 5-door
152hp Sport $26,115 CVT Impreza 5-door
182hp Sport $29,220 CVT Crosstrek

152hp Limited $28,415 CVT Impreza 5-door
182hp Limited $30,720 CVT Crosstrek

152hp Hybrid $38,070 CVT Crosstrek

The Crosstrek has becomes Subaru's most popular model in the US for 2022.

The Crosstrek Sport and Limied trims have matched the price of a Base trim Outback, a considerably larger vehicle.
182hp Sport $29,220 CVT Crosstrek: cargo space 55.3 ft³ with seats down
182hp Base $29,620 CVT Outback: cargo space 75.6 ft³ with seats down
182hp Limited $30,720 CVT Crosstrek: cargo space 55.3 ft³ with seats down


The Impreza started life in 1993 as the replacement for the mainstay Subaru vehicle that had sustained Subaru of America since the early 1970s. The Impreza had a new generation engine, 4 speeds instead of 3 speeds, and over 100 horsepower.
(90 hp) 20 MPG 1993 Subaru__ Loyale 1.8L, 4 cyl, Automatic 3-speed,
(110hp) 23 MPG 1993 Subaru_ Impreza 1.8L, 4 cyl, Automatic 4-speed,

In the 1990s the Impreza morphed into Subaru's first Crossover, the Forester and also into their road rally inspired sport sedan, the WRX.
September 28th, 2022 at 1:00:27 AM permalink
missedhervee
Member since: Apr 23, 2021
Threads: 96
Posts: 3092
A prototype, all-electric airplane took its first flight Tuesday morning in central Washington state.

The Seattle Times reports that if the Federal Aviation Administration eventually certifies the small airplane to carry passengers, it could become the first all-electric commercial airplane.

The plane, built by startup Eviation, was built to carry nine passengers and up two pilots and took off from Moses Lake, Washington, at 7:10 a.m. Tuesday. The plane landed eight minutes later.

The company’s goal is to show such electric planes are viable as commuter aircraft flying at an altitude of about 15,000 feet (4,572 meters).

The plane, designed by engineers in Washington state and Israel, is powered by 21,500 small Tesla-style battery cells.
September 28th, 2022 at 2:55:29 AM permalink
DRich
Member since: Oct 24, 2012
Threads: 51
Posts: 4944
Quote: Pacomartin
I don't think they will sell a base trim at 0% (or very low) interest rate. I think most of the profit is in upper level trims and not in financing. A base level trim for the Subaru Impreza below has MSRP of $21,315 which when financed at 6 years at 2.99% annual interest costs $2K in interest. The automaker would gladly give up that interest if they could sell a $4K-$8K upgrade to a higher rim.




My experience shows that they will. Obviously it is just a promotion when they do 0% but I believe it is generally on particular models and the trim is not usually factored in.
At my age a Life In Prison sentence is not much of a detrrent.
September 28th, 2022 at 5:12:14 AM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18136
Quote: Pacomartin
I don't think they will sell a base trim at 0% (or very low) interest rate. I think most of the profit is in upper level trims and not in financing. A base level trim for the Subaru Impreza below has MSRP of $21,315 which when financed at 6 years at 2.99% annual interest costs $2K in interest. The automaker would gladly give up that interest if they could sell a $4K-$8K upgrade to a higher rim.


Usually 0% covers any select model. If a base trim happens to be on the lot and you qualify you are good to go.

BUT......

In many cases you are better taking the rebate and getting your financing elsewhere. When I was in car loans we had some promotional thing that said if you took the rebate instead of 0% what your break-even was. Some airhead called thinking we were giving rebates. I explained the manufacturers did that, not the bank. This was 2007 or 2008 when you could get huge rebates on almost any car.
The President is a fink.
September 28th, 2022 at 7:05:49 AM permalink
kenarman
Member since: Oct 24, 2012
Threads: 14
Posts: 4470
Quote: DRich
My experience shows that they will. Obviously it is just a promotion when they do 0% but I believe it is generally on particular models and the trim is not usually factored in.


You can usually buy the vehicle cheaper with cash than a 0% rate. Does that equate to actually paying 0%?
"but if you make yourselves sheep, the wolves will eat you." Benjamin Franklin
September 28th, 2022 at 11:34:49 AM permalink
DRich
Member since: Oct 24, 2012
Threads: 51
Posts: 4944
Quote: kenarman
You can usually buy the vehicle cheaper with cash than a 0% rate. Does that equate to actually paying 0%?


Obviously, it depends but many times you can't. I don't know if I have ever bought a car putting less than 100 hours of research into it. I generally price my cars from multiple states and multiple dealerships in each state. Living in Nevada I have bought new cars in California, Arizona, Utah, New Mexico and of course Nevada

Many people forget the the "Finance" guy actually gets a commission for selling you on a loan. I have been offered a lower price from the finance guy if I finance it as opposed to paying cash because he wants his commission.. The finance guys are usually some of the sleaziest guys at the dealership. even more so than the used car sales people.
At my age a Life In Prison sentence is not much of a detrrent.
September 28th, 2022 at 11:53:17 AM permalink
missedhervee
Member since: Apr 23, 2021
Threads: 96
Posts: 3092
Quote: DRich
The finance guys are usually some of the sleaziest guys at the dealership. even more so than the used car sales people.


Yes, and in many dealerships they are also the highest earners.
September 28th, 2022 at 12:02:51 PM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18136
Quote: DRich
Obviously, it depends but many times you can't. I don't know if I have ever bought a car putting less than 100 hours of research into it. I generally price my cars from multiple states and multiple dealerships in each state. Living in Nevada I have bought new cars in California, Arizona, Utah, New Mexico and of course Nevada

Many people forget the the "Finance" guy actually gets a commission for selling you on a loan. I have been offered a lower price from the finance guy if I finance it as opposed to paying cash because he wants his commission.. The finance guys are usually some of the sleaziest guys at the dealership. even more so than the used car sales people.


You are sort of talking a couple different things. 0% is a result of some kind of factory incentive. The loan commission comes from internal bonus, say from the former GMAC, or banks they shop your credit to. For 0% they might get a spiff, but they are better to get you to take the rebate and finance elsewhere, getting 2 spiffs.

F&I office guys are the best closers in the house. You have to kind of say you want no extras as soon as you sit down. They prey on "get me dones" who have bad credit or are loaded with negative equity. I just told them what the terms were and washed my hands of what happened at the store.
The President is a fink.
September 28th, 2022 at 8:32:21 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: DRich
The finance guys are usually some of the sleaziest guys at the dealership. even more so than the used car sales people.


I know this is 30 years ago, but I remember the big bust of vehicle finance guys in Washington DC for selling cars for cash without reporting to he IRS.
https://www.washingtonpost.com/archive/politics/1994/02/16/5-guilty-6-cleared-of-money-laundering-in-car-sales/df8c9a75-2a16-4225-a9d1-c65c306a0a79/

Cash transactions of over $10,000 are legal, but you have to fill out an IRS form. You can legally sell a sports car to a 19 year old with cash stuffed in a paper bag as long as you fill out the IRS form 8300.
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