Buying a 2013 Explorer XLT

Archived From: Finance
  • Page :
  • 1
  • Text Only
Voting History
rated:
hello all,

So i have a 2003 BUick Rendezvous (50k miles) and i am thinking of trading this in towards a 2013 Explorer below 35k and probably 300 above invoice (edmunds TMV calculator) .I may get 6K at best for the trade and probably 5k cash for a total of 11K
down.

I am a weekend driver. No high mileage here, have a 2004 Trailblazer with 45k miles (not trading this though)

- Thinking of going with penfed (my credit rating isnt that great)

- I can get my parents to cosign for a better rate

- Would like all the bells and whistles - nav etc.

Questions:

Any reason why i shouldn't get the 2013 Explorer?

Any advantages to buying in NJ or CT vs NY?

Should i wait for any specific timing - no real rush here would like to maximize on opportunity?

Should i play one dealer against another to get throw ins?

Any help and advice would be appreciated


Thanks
Rod.

Member Summary
Most Recent Posts
Just a point to ponder, the Exploder was the number one vehicle sold to 'Cash for Clunkers'.

BitemeIamtoxic (Mar. 25, 2013 @ 6:58p) |

Irrelevant Point...

Those were the old truck-based (Ford Ranger), full-frame Explorers...rugged, but heavy...

New Explorer... (more)

craftsmd (Mar. 25, 2013 @ 8:38p) |

The older Explorers are solid except for a few cheap interior parts here and there... but they are gas guzzlers... proba... (more)

brettdoyle (Mar. 26, 2013 @ 9:03a) |

Thanks for visiting FatWallet.com. Join for free to remove this ad.

Why are you getting an new car?

Porqin said:   Why aren't you buying a Crown Vic instead?

fixed

Need a second car, my dad drives to work with the Rendezvous but its a nighmare for repairs so rather than repair i'll give him the TB and get the EXP for me. I have a decent job to i want a nice ride also.

1. Why can't your dad get his own car and you keep the TB?
2. If you need your parents to co-sign you shouldn't be buying a car that nice/new.

Bowen said:   1. Why can't your dad get his own car and you keep the TB?
2. If you need your parents to co-sign you shouldn't be buying a car that nice/new.


They dont need a new car and i'd like to upgrade from the basic TB which was my first car. The Buick is sucking more than its worth in repairs and with my income i can give/let him use my TB. I can afford it with my current income, just not the high interest rates for mistakes I made long ago.

Welcome to Fatwallet. Folks here aren't too Keen on buying new cars, especially in your case where you have your choice of two paid off cars with 50,000 or less miles on them. There's no financial rational for you to spend $35k on a new car.

obligatory.. Never Cosign anything.

dcwilbur said:   Welcome to Fatwallet. Folks here aren't too Keen on buying new cars, especially in your case where you have your choice of two paid off cars with 50,000 or less miles on them. There's no financial rational for you to spend $35k on a new car.

I understand - however it's 2 fully paid for cars with one working like a beast and the other a constant lame duck. Example i am currently looking at a 3K engine fix on a 6K car. Previously was a 1k AC something fix. The head unit doesnt work either. Doesnt make sense to me if the next issue could be a 1k+ issue. I can do a temp fix on the current issue for 800 but there is no telling how long it will last.

robothegreat said:   hello all,

So i have a 2003 BUick Rendezvous (50k miles) and i am thinking of trading this in towards a 2013 Explorer below 35k and probably 300 above invoice (edmunds TMV calculator) .I may get 6K at best for the trade and probably 5k cash for a total of 11K
down.


Even with 50k miles, honestly, I'd give you maybe $3500 for a Buick Rendezvous. Think about it, would you buy one for $6,000 and then have to re-sell it for a profit? I wouldn't, and neither will the dealer. If they give you that much for it, the cost of the Explorer just went up a few grand.



I am a weekend driver. No high mileage here, have a 2004 Trailblazer with 45k miles (not trading this though)

- Thinking of going with penfed (my credit rating isnt that great)

- I can get my parents to cosign for a better rate

- Would like all the bells and whistles - nav etc.



If your credit rating isn't good, then you can pass on PenFed.
Your parents co-signing for a car loan is a terrible idea, for both you and them. If the deal goes sour and you default, you've just wrecked the relationship with your parents for a while.
If you want all the bells and whistles, you'll probably want to buy a Explorer Limited, which is easily in the $40s.


Questions:

Any reason why i shouldn't get the 2013 Explorer?

Any advantages to buying in NJ or CT vs NY?

Should i wait for any specific timing - no real rush here would like to maximize on opportunity?

Should i play one dealer against another to get throw ins?

Any help and advice would be appreciated


Thanks
Rod.


A reason why you shouldn't get it? Doesn't sound like you need it.
Not sure about the advantages of buying in any of those states.
Should you wait? I'd wait for the 2014s to hit the lots and get a good deal on a 2013 if you really want one
Always play the dealers against each other. It's entertaining to see who'll go lower to get the sale.

My advice? Sell the Rendezvous private party and keep your Blazer.

robothegreat said:   dcwilbur said:   Welcome to Fatwallet. Folks here aren't too Keen on buying new cars, especially in your case where you have your choice of two paid off cars with 50,000 or less miles on them. There's no financial rational for you to spend $35k on a new car.

I understand - however it's 2 fully paid for cars with one working like a beast and the other a constant lame duck. Example i am currently looking at a 3K engine fix on a 6K car. Previously was a 1k AC something fix. The head unit doesnt work either. Doesnt make sense to me if the next issue could be a 1k+ issue. I can do a temp fix on the current issue for 800 but there is no telling how long it will last.
You need a new engine in a car with 50K miles???

A thousand dollar repair here and there is still a better deal than a $35k new car. The value of the vehicle (your $3k repair on a $6k car example) is not really relevant. You should be comparing the expected cost of maintaining the vehicles over time. For example, I've paid for $2k repairs to cars "worth" about $2k, knowing that I would be able to reasonably expect to drive it another couple of years.

Especially given your low mileage driving habits, there's no way that new car is going to make financial sense.

robothegreat said:   I understand - however it's 2 fully paid for cars with one working like a beast and the other a constant lame duck. Example i am currently looking at a 3K engine fix on a 6K car. Previously was a 1k AC something fix. The head unit doesnt work either. Doesnt make sense to me if the next issue could be a 1k+ issue. I can do a temp fix on the current issue for 800 but there is no telling how long it will last.

$3k engine fix? Hardly. That Buick came with either a 3400 or a 3500 OHV engine that was in quite a few GM cars. You could pull that from a junkyard for maybe $500 and have a Craigslist mechanic put it in for the same money. He could fix the A/C while the engine is out. Head unit is an easy fix. $100, maybe $150.

You want a new car and you need convincing. You won't get that here. If you want it, buy it. I have a car payment now and while I love my beautiful Tuxedo Black 2012 F-150 Platinum 4x4 EcoBoost, and I use it to its full capability (towing a 35 ft 8,000 lb trailer and hauling cargo), this car payment crap gets old quick. 3 more years or less and it's paid for. The hell with another car payment.

RailroadTrack said:   robothegreat said:   I understand - however it's 2 fully paid for cars with one working like a beast and the other a constant lame duck. Example i am currently looking at a 3K engine fix on a 6K car. Previously was a 1k AC something fix. The head unit doesnt work either. Doesnt make sense to me if the next issue could be a 1k+ issue. I can do a temp fix on the current issue for 800 but there is no telling how long it will last.

$3k engine fix? Hardly. That Buick came with either a 3400 or a 3500 OHV engine that was in quite a few GM cars. You could pull that from a junkyard for maybe $500 and have a Craigslist mechanic put it in for the same money. He could fix the A/C while the engine is out. Head unit is an easy fix. $100, maybe $150.

You want a new car and you need convincing. You won't get that here. If you want it, buy it. I have a car payment now and while I love my beautiful Tuxedo Black 2012 F-150 Platinum 4x4 EcoBoost, and I use it to its full capability (towing a 35 ft 8,000 lb trailer and hauling cargo), this car payment crap gets old quick. 3 more years or less and it's paid for. The hell with another car payment.


Thats why i came here, i dont really want to spend money out of pocket. I need to see the other person's perspective. Gladly i received it so thats a good thing.

Dont forget about taxes & tags for the new car, 8% on 35k is $2800, title + registration fees will bring it closer to 3k.

Figure out what you NEED.
Do you tow semi regularly or need 7 passenger seating?
Do you drive through dirt roads and rough terrain and need the ground clearance or 4WD?

If you have money burning a hole in your pocket, find new ways to spend it. ( Travel, Motorbike, Skiing, Sailing, Going out, hobbies, back to school tuition.)

Making car payments gets old quickly, 30+k is alot of car payments.
New cars only feel "new" for a short while. I bought a new 2013 in Jan, its novelty was gone by last month.

Also, for NYC drivers... your car will only look new for a few months, especially if you park on the street at all.

robothegreat said:   RailroadTrack said:   robothegreat said:   I understand - however it's 2 fully paid for cars with one working like a beast and the other a constant lame duck. Example i am currently looking at a 3K engine fix on a 6K car. Previously was a 1k AC something fix. The head unit doesnt work either. Doesnt make sense to me if the next issue could be a 1k+ issue. I can do a temp fix on the current issue for 800 but there is no telling how long it will last.

$3k engine fix? Hardly. That Buick came with either a 3400 or a 3500 OHV engine that was in quite a few GM cars. You could pull that from a junkyard for maybe $500 and have a Craigslist mechanic put it in for the same money. He could fix the A/C while the engine is out. Head unit is an easy fix. $100, maybe $150.

You want a new car and you need convincing. You won't get that here. If you want it, buy it. I have a car payment now and while I love my beautiful Tuxedo Black 2012 F-150 Platinum 4x4 EcoBoost, and I use it to its full capability (towing a 35 ft 8,000 lb trailer and hauling cargo), this car payment crap gets old quick. 3 more years or less and it's paid for. The hell with another car payment.


Thats why i came here, i dont really want to spend money out of pocket. I need to see the other person's perspective. Gladly i received it so thats a good thing.


Don't want to spend money...? Then don't. Sell the Buick, tell your parents to get their own car. You can give them the profits from the buick if you want. 3.5k to 5k will buy them something reasonable. I think you should jsut fix the buick though, but you'll have to decide that. You don't need a new SUV though.

OP registered 2005. 4 posts.

RedCelicaGT said:   OP registered 2005. 4 posts.

Not to be rude or anything - does this have much to do with my questions?

robothegreat said:   RedCelicaGT said:   OP registered 2005. 4 posts.

Not to be rude or anything - does this have much to do with my questions?


Your question and reasoning is unusual for a member from 2005. The limited posts suggests why that might be the case...

Infinion said:   robothegreat said:   RedCelicaGT said:   OP registered 2005. 4 posts.

Not to be rude or anything - does this have much to do with my questions?


Your question and reasoning is unusual for a member from 2005. The limited posts suggests why that might be the case...


Ok, understood. I am not a FW Expert like some, i read and occasionally (4 times) posted. I only ask when i need help or clafification..like now.

I looked at buying a Buick Rendezvous... they are money pits with lots of problems. Perhaps you can sell it on craigslist and buy yourself another used car.

I recently bought a 2004 explorer with 95k miles on it that I paid $5k cash for and am very happy with it.

When I bought it the stereo didn't work... turns out some kids put quarters inside the CD slot, they rattled around and shorted the radio. I put in a used dvd\bluetooth\navigation system I bought off eBay for $300 and it's been a great car. There was also a problem with the blend door actuator in the rear trunk hvac system... bought a used part for $40 and had it fixed in an hour.

Of course the 35K explorer looks nicer but I'm not trying to impress people I don't know at stop lights.

I have a 98 Ford Explorer that has 106k miles and it's still going strong. I have a need for a new 7 passenger SUV and have considered the 2013 Explorer but it is just too expensive. For the money that I'm spending, I might as well get an older (2007?) Acrua MDX which is probably more reliable and I have a very dependable Honda/Toyota mechanic. Well back to the topic, in any case, I have determined that getting a loan for the (newer) car is probably not worth the need for a 7 passenger vehicle which I'll only use on weekends. So I'm likely to sell the 98 Explorer and get a 2003-2006 Explorer (which has the 7 passenger capacity) because even at the worst case of needing a new engine or transmission, that's probably less than a year of car payments.

TrueKnight said:   I have a 98 Ford Explorer that has 106k miles and it's still going strong. I have a need for a new 7 passenger SUV and have considered the 2013 Explorer but it is just too expensive. For the money that I'm spending, I might as well get an older (2007?) Acrua MDX which is probably more reliable and I have a very dependable Honda/Toyota mechanic. Well back to the topic, in any case, I have determined that getting a loan for the (newer) car is probably not worth the need for a 7 passenger vehicle which I'll only use on weekends. So I'm likely to sell the 98 Explorer and get a 2003-2006 Explorer (which has the 7 passenger capacity) because even at the worst case of needing a new engine or transmission, that's probably less than a year of car payments.

I have one with a third row seat... the third row isn't all that usable except maybe for kids (no legroom, PITA to get back there). I wouldn't expect an adult to ride in the third row over a long distance. I imagine the Acura MDX is the same way... you probably need the expedition or a minivan(better MPG) for 7 normal sized people.

brettdoyle said:   I looked at buying a Buick Rendezvous... they are money pits with lots of problems. Perhaps you can sell it on craigslist and buy yourself another used car.

I recently bought a 2004 explorer with 95k miles on it that I paid $5k cash for and am very happy with it.

When I bought it the stereo didn't work... turns out some kids put quarters inside the CD slot, they rattled around and shorted the radio. I put in a used dvdbluetoothnavigation system I bought off eBay for $300 and it's been a great car. There was also a problem with the blend door actuator in the rear trunk hvac system... bought a used part for $40 and had it fixed in an hour.

Of course the 35K explorer looks nicer but I'm not trying to impress people I don't know at stop lights.


2004 explorer sells for $5k
2013 explorer sells for $35k

hmmm...

robothegreat said:   

They dont need a new car and i'd like to upgrade from the basic TB which was my first car. The Buick is sucking more than its worth in repairs and with my income i can give/let him use my TB. I can afford it with my current income, just not the high interest rates for mistakes I made long ago.


Your parents do not need a new car and have good credit. You do and have poor credit.

Lots of good thoughts to ponder. I'll have to rethink my plan..thanks all.

Future thread ... "Can I return my 2013 Explorer for a full refund?"

You say you have a winner in the Trailblazer. Why not get another one of those? Maybe not a 2004, but you should be able to find one that's a few years newer for $10-12k, according to a quick gander at cars.com.

Also, if you want a nice-looking ride, have you considered a sedan?

NoMoneyInMyWallet said:   Future thread ... "Can I return my 2013 Explorer for a full refund?"

Why return? You have so many options, just default on your first payment and hide it for the next six years, make sure you get gap insurance and set it on fire... The reason are so many more profitable approaches...

Dude... You have the Car Fever.

You say you don't need the Buick and its a problem. Then sell it. If you need your parents to co-sign, I doubt you should be buying a new car. You certainly should not be giving them a car.

Sell the Buick and drive the Trailblazer a while. At 45K its just broke in well.

You probably won't like the advice you get on this forum. But Hey its free.

In the end you can justify anything to yourself and do what you want. Its your money.

Personally I would be looking at something at least a couple of years old and let some other sucker take the tail kicking first two yeard depreciation.

Cheers

look for something more in the 100k range

johnfkennedy said:   look for something more in the 100k range

Really can't beat the S-class.

Just a point to ponder, the Exploder was the number one vehicle sold to 'Cash for Clunkers'.

BitemeIamtoxic said:   Just a point to ponder, the Exploder was the number one vehicle sold to 'Cash for Clunkers'.

Irrelevant Point...

Those were the old truck-based (Ford Ranger), full-frame Explorers...rugged, but heavy...

New Explorer is a car-based (Ford Taurus/Volvo S80), suedo-SUV...much better mileage, lot less rugged...

The older Explorers are solid except for a few cheap interior parts here and there... but they are gas guzzlers... probably like 17 MPG on the highway in real world use. I suspect that is why so many were sold to Cash for clunkers.



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2014