| TopDog |
My wife and I are not sure it is worth affording the MDX. We are only planning on putting between 40-50% down after paying ca$h for our TL a few years ago.
It's a shame because this is the one vehicle we both love and agree on. But after looking at the pymnt calculators, we'll still have almost $500 month car pymnts after putting that much down. I'm not sure any car is worth that when we could pay ca$h for another vehicle.
the decision is harder still after viewing the pride most of the members here take in their MDX. Maybe we'll reconsider after we do our taxes and leave our deposit on it until then....:8: |
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| msu79gt82 |
| ... no car is worth going into debt for. Not everyone can afford an MDX (or X5 or Land Cruiser, or XC90, etc) at this time in their life. I applaud you for waiting and scrutininzing the books - but if you can not afford an MDX now then I would wait. |
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| msu79gt82 |
I assume (and hope) your deposit is fully refundable.
We used to own a 94 Concorde; everything was great with it until it hit 80K miles, then it was like the whole thing started falling apart. |
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| mdxxxx |
TopDog,
I can appreciate your analysis, and thought process. In order to really enjoy your X, you can't be burdened with extra debt. I agree in your thinking of waiting until after your taxes are done. A decision like this must be made with as little emotion as possible, while taking your time. There is no rush... Do keep us posted on what your decision will be... |
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| crmsnidol |
Just to add an opposing viewpoint - I'd sell my kid on the blackmarket if it meant being able to afford the MDX.
The payment was a tough one to sell my wife on but considering the value, reliability and resale on the MDX - there is really no competition in the mid-size luxury SUV arena. If you still want the value, reliability and resale of the MDX and still stay within the Honda brand - go with the Pilot. If we didn't already have a CR-V I would've gotten a Pilot instead.
Good luck with whatever you choose. |
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| msu79gt82 |
quote:
Originally posted by crmsnidol
Just to add an opposing viewpoint - I'd sell my kid on the blackmarket if it meant being able to afford the MDX...If you still want the value, reliability and resale of the MDX and still stay within the Honda brand - go with the Pilot. If we didn't already have a CR-V I would've gotten a Pilot instead.
A good point is raised here - perhaps a Pilot w/o Nav & stuff will fit the budget. |
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| TopDog |
MSU70GT82- Our Concorde, like yours junk after 70,000 miles when the transmission was replaced the first time. My wife, also a GT 82 grad (masters in CS), bought it new and when we went to buy the 2001 TL to replace it, we found it wasn't worth anything, so we just kept it. It still runs and as long as we don't have any big repairs, we'll keep it.
The original thought was to donate the Concorde and sell or keep the Pathfinder with the MDX coming in to keep the TL and the motorcycle company in the garage. But, I'm a cheapskate that believes that debt is bad and while we can afford the payment, I would almost rather put the extra money toward other things that could help in the long run. While we are far from poor, we are also far from being independently wealthy!
We value what the MDX is and would rather pay the little extra for the MDX over the Pilot. If we choose not to get it, the Pilot will be ruled out as I will go for something <$30K that we can almost pay cash for. Our TL is 2 years old this month and we still refer to it as our new car?!?!?! We'll make a final decision after taxes as our MDX is due at the end of this month. |
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| crmsnidol |
quote:
Originally posted by msu79gt82
Kidding about the kids I hope.
Of course. I wouldn't sell her for less than a Cayenne. :) |
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| cmdpm |
TopDog,
you may want to consider...
1. find a better interest rate- with 40-50% down, $500/mo. seems a bit high-either thru a bank or have your dealer contact you when honda again offers a low rate, i.e. 3.49%
2. contact more dealers-maybe a better price can be had
3. consider doing without the Nav- it is definitely a great thing to have but don't let it take the payment above your comfort zone. and if you've never had one then you really won't miss it.
4. it may be better to consider the base MDX rather than no MDX at all.
5. the pilot is a nice alternative and for many people offers more cargo room, headroom and a more family-oriented ride than the MDX- it's definitely worth a close look.
i certainly hope you will be able to manage an MDX exactly the way you and wife want it. but financial peace of mind and an MDX, even with fewer "bells and whistles" may be best of all.
good luck,
chris |
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| mauigrl721 |
TopDog--
I agree with yours and everyone else's viewpoint that being financially stable and having that piece of mind is "priceless", shall we say. However, I am from the other side of the fence in that I sacrificed a lot to get my MDX. I saved for 11 months and gave up some of the things I really enjoy. Hell, I got a job so that I could buy my X!!! In the end, even though it's only been 2 months, I could not be happier. True, a large fraction of my monthly income goes towards the $530/mo. car payments, but it is WELL WORTH IT. This car is far better than I had ever imagined it while I was waiting. Good luck....MBP is DEFINITELY not something to pass up!!!!:D |
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| crmsnidol |
I started putting an additional $100 a month into a small credit union savings account Oct 2000 in preparation of a downpayment for my next vehicle. Almost 2 1/2 years later combining those savings with the sale of my 10 year old Civic and a little more from savings earmarked for downpayment, I was able to put $9000 down and at 4.29% for 60 months my payments are $637/mo. Yes, that's a little high but we only will ever carry one car payment at a time because we buy cars we know will last and not kill us with repairs cost late in their life. I know many people who pay between $700 - $1000/mo for two car payments or leases.
For me it was about selecting the vehicle that was going to give me the most for my money and keep me happy for the next 10 years I own it. The Honda brand and a select other few would be the only ones to consider in my house and the Acura comes out way on top. |
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| laborlitigator |
| Perhaps you could look into a used one. . . |
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| TopDog |
I refuse to buy used. We refinanced our home and saved more than what the payment could be per month, so it's not a question of *if* we can do it but should we. There's no question the MDX is worth every dollar, it's just am I worth a $35-42K SUV?
With that in mind, I bought my '98 Pathfinder (awesome truck!) with a sticker of $33K when I could just barely afford it. I got better jobs and paid it off way early. After losing a awesome job due to a 8500 person layoff (Thanks Cisco!), I am much more cautious nowadays. I lost a lot of money in stocks and other things and I realize I may be over cautious. But, better safe than sorry. So, any car loan is too much to me right now. (Yeah, I know. I need to get over it already!)
quote:
Originally posted by laborlitigator
Perhaps you could look into a used one. . .
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| harmonr1 |
| You might just want to keep the TL. They're probably good for about 200K miles. I started with '89 Integra that I put 255K on. One clutch, many sets of brakes and 6 sets of tires. Never a problem! Upgraded two years ago to a CL. I loved that car until somebody turned in front of me and I T-boned 'em going 45. Totaled! That's what drove me to an X (pardon the pun). The next step up in usability with excellent safety features. I can tell you that I'm hooked on airbags. I would have passed on the payments and kept the CL for a longtime had it been my choice. Only lost $4,000 in depreciation in 24 months. I agree, peace of mind first. Toys second. |
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| msu79gt82 |
quote:
Originally posted by TopDog
If we choose not to get it, the Pilot will be ruled out as I will go for something <$30K that we can almost pay cash for.
If I did not need seating for 7 and desired to stay under $30K and wanted an SUV I'd seriously consider a Highlander. |
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| scoobs |
As my son likes to repeat often, "Life is uncertain, eat dessert first". Funny, that little phrase hits alot closer these days.
Get the MDX |
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| mapdude |
==>MSU79GT82
I noticed the logos on your name. That is a University of Memphis logo right?
I got friends who live in Katy, he plays with a Rock and Roll band called King's X. Ever heard of them?
Bill |
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| msu79gt82 |
quote:
Originally posted by mapdude
==>MSU79GT82
I noticed the logos on your name. That is a University of Memphis logo right?
I got friends who live in Katy, he plays with a Rock and Roll band called King's X. Ever heard of them?
No, I am not aware of that group; but I graduated from the then Memphis State University in '79 - getting a little old for a lot of the new younger bands:eek: |
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| renov8tress |
renov8r and I are coming ever closer to needing a new car (baby #2 due in June and not one really reliable car) and it's a scary thing. It's a hell of a lot of money. We saw an ad for an Envoy under $25k but I wonder if I will regret spending that much on a car I don't absolutely love rather than just going for it with the MDX. I would rather not sacrifice the sunroof and heated seats with a Pilot.
After having to deal with the cost of infertility and unemployment (both non issues now, thank heaven) we are even more worried!
On the other hand, you gotta have dessert sometime!
:rolleyes: in a holding pattern...... |
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| henry_atwork |
hey, "renov8r" and "renov8tress" :2:
is this the first couple posting on this board? cool! a family of MDX fanatics. :D
-henry |
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| renov8tress |
| and you have my car!!!!!!:4: |
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| TopDog |
| Got a MBP MDX w/Tour & Nav if I get it when it comes in. Also, my wife and I have dealt with infertility issues and now looking to have kids and agree that $40K is a lot for a car. It sounds like you're going to go for the MDX. I am still unsure. Good luck with your decision! |
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| renov8tress |
| I shudder to think what our alternatives are, and I think renov8r does, too. The Envoy? A minivan?? A traditional station wagon? I don't know. The whole thing is frustrating. And if we do get it, how does that affect our financial situation? I don't know. I am a firm believer in you get what you pay for, and I know the MDX is and the others ain't. Good luck and let us know when/if you take delivery on the X. |
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| TopDog |
I may have sealed my fate to get it. I took our TL in for an oil change and took a test ride in their Demo model (SB Tour/Nav/RES) and fell for the MDX all over again. Then, I saw someone else's MBP in for service. What a color!!!
You are right. What else to get? Maybe just keep what I have for now. Tough call. I'll let everyone know. Thanks!
quote:
Originally posted by renov8tress
I shudder to think what our alternatives are, and I think renov8r does, too. The Envoy? A minivan?? A traditional station wagon? I don't know. The whole thing is frustrating. And if we do get it, how does that affect our financial situation? I don't know. I am a firm believer in you get what you pay for, and I know the MDX is and the others ain't. Good luck and let us know when/if you take delivery on the X.
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