Future owner needs advise from current owners

[kayv369]

I don't want to get into a political discussion about retirement funding, but you asked for advice. I would say that since you have negative equity on your current lease, you can't afford to switch cars right now.

And thanks for your advice and discussion I don't mind having these discussions like some people may. I love to hear different point of views because it gives me more perspective.

 

[kayv369]

I'd go with a 2012 or newer as the suspension was tweaked starting 2012 & you get the 8 speed tranny. I just bought a 2012 4.6 with 27k miles for 24,600. It was a one owner car that got traded in on an Infiniti. I would suggest waiting until your lease is up otherwise you'll be upside down on your Altima ( the negative aspect of leases). If & when you do pull the trigger, the 4.6 is much more responsive & fun to drive. I test drove the 3.8 first, but really liked the 4.6 a lot better. Also, the car gets between 30 -31 mpg on the highway. The town mileage is a bit brutal at around 18 mpg, but I can live with it! Also, if you wait til the lease is up, the Genesis' should be a little lower in average prices. Just shop for the right one!

That was my next question but you answered it. Is the changes to the 2012 that big of a difference. Like one thing I noticed was that with the 8 speed transmission the actually rate the mpg less for city than 2011. And with the suspension did the change it or tweak the settings on the 2011 suspension. I am going to wait. I am going to call them to see when is the earliest I can turn it in. This will be my first and last lease? Not that it was a bad experience, I just think I am sticking to 2-3 year old cars to purchase

 

[Gunkk]

Yep 2 year old cars can be an incredible value for money.

When you can buy a 2 year old car like the Genesis (say 2012) with three solid years of warranty remaining, and for $10k-50k less than a comparable sedan (from Camry all the way up to Audi)... why buy anything else?

 

[kayv369]

Yep 2 year old cars can be an incredible value for money.

When you can buy a 2 year old car like the Genesis (say 2012) with three solid years of warranty remaining, and for $10k-50k less than a comparable sedan (from Camry all the way up to Audi)... why buy anything else?

Absolutely. Not to mention buying a new genesis or equus seems to not be such a good deal since the depreciation is so high in the first 2 yrs, higher than most I should say. You get absolute value at the 2 year mark

 

[kayv369]

Offleaseonly.com has some nice prices genesis and equus

 

[ComputerBudda]

I got a used 2010 4.6 a year with 44K for $22K so those prices are in line. I average 22 MPG in suburban driving. I can get 25 MPG on a long road trip so I think the 27 MPG average is way off. Although the extra power in the V8 is nice, the V6 gives more than enough. I got the V8 because all the options were included. If I had found a V6 similarly configured I would have bought that. I have heard the 2012 rides better but the 2010 is the most comfortable car I've every had. Rides much better than my wife's Lexus.

For you, I'd cross my legs and finish out your lease. There will always be available used Genesis.

 

[Gunkk]

You get absolute value at the 2 year mark

I most certainly did.

 

[kayv369]

I got a used 2010 4.6 a year with 44K for $22K so those prices are in line. I average 22 MPG in suburban driving. I can get 25 MPG on a long road trip so I think the 27 MPG average is way off. Although the extra power in the V8 is nice, the V6 gives more than enough. I got the V8 because all the options were included. If I had found a V6 similarly configured I would have bought that. I have heard the 2012 rides better but the 2010 is the most comfortable car I've every had. Rides much better than my wife's Lexus.

For you, I'd cross my legs and finish out your lease. There will always be available used Genesis.

So the best bet might be a 2012 3.8 with tech and premium package. I like having all the options.

something like this
http://orlandocarconnection.com/2012-Hyundai-Genesis/Used-Car/Orlando-FL/4550856/Details.aspx

 

[dg_moore]

Even more annoying is reaching retirement age and realizing you haven't saved any money during you life, and you will have to live in poverty the rest of your life.

Amen, brother. A succession of shiny new cars will rapidly fade in memory as you worry about keeping a roof over your head in retirement.

 

[427435]

Lottery? Come on now. All I am saying is that for my generation social security is not going to be around and the 401k/pension funds are not going to cut it. My financial advisor has me setup on a plan but I am not putting all my eggs in that basket. By this conversation I am taking it that you're at least 10-15 years older than me

Be very careful of financial advisers------especially if he is telling you to give him money instead of putting into a 401k or IRA. For every ethical one, there are a couple that are just interested in fees. And the 401K program is great IF YOU start contributing at an early age.

Despite all the doom and gloom, SS won't be going broke either. The pols are just trying to scare people into something else that Wall St will benefit from.

http://www.nbcnews.com/id/7080681/ns/business-answer_desk/t/social-security-really-going-broke/#.U_oB2ZIesZA

This is advice from a 71 year-old that has successfully navigated the last 50 years into a comfortable retirement. And both my sons are headed to good retirements also as they are investing in IRA's as well as good stocks. And they buy and hold their cars for 10+ years just like their old man.

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[landtuna]

Amen, brother. A succession of shiny new cars will rapidly fade in memory as you worry about keeping a roof over your head in retirement.

I would always counsel pre-retirement worker-bees to be very conservative in their planning and save everything then can leading up to retirement. That said, if you invest wisely so that your retirement is being paid by investments instead of just depreciating a bank account you will last retirement much better. I can afford much more in retirement and live more lavishly than I ever did while working and raising a family. (Hence the R-spec which I never would have bought as a younger person.)

 

[Mark_888]

Be very careful of financial advisers------especially if he is telling you to give him money instead of putting into a 401k or IRA. For every ethical one, there are a couple that are just interested in fees. And the 401K program is great IF YOU start contributing at an early age.

Financial advisors (if you use one, which I am not necessarily advocating) need to get paid somehow. They don't work for free any more than other people do. I would rather pay a financial advisor for 1 hour of consultation than to invest with them. If you don't pay them cash for their time, but give them money to invest for you, they will invest your money in products (annuities, mutual funds, etc) where they get a hefty commission (usually up front) which reduces the amount that your investment will pay over the long term. But there is plenty of free advice available, such as Suzie Orman TV show (even though it is a bit hard to watch her show because she hates men).

A 401K that has any kind of company matching program is a good idea at any age. Otherwise you are throwing free money away.

 

[RWMissouri]

Well, I don't want to start a fight here about retirement planning but one who has made a lot of mistakes it is too late to have a do-over. But my view is that I wouldn't spend one thin dime with any financial adviser. Just put your money in an S&P Index fund (there are many). When the stock prices go down you can buy more and through the miracle of dollar cost averaging you can get more stock. And I would simply do it through any one of the various internet brokers. The cost of doing so is extremely reasonable. But the last thing I would do would be to trust "financial advisers." Worst mistake I ever made.

On the car I would go for a late model 2013 or 2014 and get a low mileage one with at least the premium package. Not entirely sure the tech package is necessary but it would be OK if not much more. I would think there would be a large market of such vehicles available to choose from. I'd probably want one with 15-20K on the clock and you will have plenty of warranty left. They are out there. This is a good time to really know the market cold. That way you won't be at the mercy of the professional liars who work at the dealerships. And don't waste your money on extended warranties and excessive documentation fees. Walk away and look at your contract and make sure you understand every dime. And for that matter, you can get your loan at the your local insurance company as I did when I bought our cars. The dealers will try to get you to go through their financing companies so they can rake off some more profit.

Do your homework on values. Suggest NADA or Edmunds and remember that if you have a trade-in you have two transactions. You buy their car and the dealer buys your car. Don't co-mingle the two or you will be subject to some shenanigans you are not going to like. If it is a straight cash deal, you are in the driver's seat.

I also recommend that you should never make an offer. Let the dealer negotiate with himself and be prepared to walk if you don't like what you hear or feel like you are being pressured. Chances are you can get them to drop it another $5K or more without doing anything except refusing to make an offer. Once you have made that offer the price will only go up. So don't do it.

 

[dg_moore]

... I wouldn't spend one thin dime with any financial adviser.

That depends. There are advice-only advisers who have nothing to sell and who can be very helpful. I had one fixed-fee session with such an adviser and he was very helpful in getting me set up for retirement - investments, taxes, inheritance, long term care, insurance, etc. It's certainly possible to navigate these areas on your own, but it's a lot easier with somebody knowledgeable to help. But beware the "advisers" who are actually salesmen. Their first objective is to transfer money from your wallet to theirs.

 

[Mark_888]

Well, I don't want to start a fight here about retirement planning but one who has made a lot of mistakes it is too late to have a do-over. But my view is that I wouldn't spend one thin dime with any financial adviser. Just put your money in an S&P Index fund (there are many). When the stock prices go down you can buy more and through the miracle of dollar cost averaging you can get more stock. And I would simply do it through any one of the various internet brokers. The cost of doing so is extremely reasonable. But the last thing I would do would be to trust "financial advisers." Worst mistake I ever made.

Some financial advisors, especially those who charge a one time fee for a short consultation (instead of taking a commission on everything you buy) would give the same advice--invest in a broad index fund like the S&P 500. Suze Orman provides same advice for free on her show. Of course, right now the S&P 500 is very near an all time high, but over time it is good advice.

 

[427435]

The second thing a good adviser will recommend is investing in well managed companies that pay a reasonable dividend.

 

[kayv369]

Question : between the 2012 and 2013 is buying the 2013 just for the blue link or should I just concentrate on the 2012 that has all the options that I'm looking for I like the blue link but I've also seen people complain about it being that 2013 is the first year that the Genesis has it

 

[Mark_888]

Question : between the 2012 and 2013 is buying the 2013 just for the blue link or should I just concentrate on the 2012 that has all the options that I'm looking for I like the blue link but I've also seen people complain about it being that 2013 is the first year that the Genesis has it

2012 was the fist year for the GDI engines (3.8 and 5.0) on the Genesis. The 2012 5.0 has had a fair number of serious oil consumption problems. During 2012 model year, there was also a non-GDI 4.6 version for awhile, and that one should be reliable.

2012 was also the first year for the new 8-speed transmission. I don't know of any major problems with it, but 2013 might be a little more reliable.

 

[kayv369]

2012 was the fist year for the GDI engines (3.8 and 5.0) on the Genesis. The 2012 5.0 has had a fair number of serious oil consumption problems. During 2012 model year, there was also a non-GDI 4.6 version for awhile, and that one should be reliable.

2012 was also the first year for the new 8-speed transmission. I don't know of any major problems with it, but 2013 might be a little more reliable.

Wow I didn't know 2012 had so many firsts .

 

[kayv369]

Have people had more issues with the 4.6 or 3.8, a lot of what I read is about navigation issues or tech issues. Nothing specifically for the engines. Oh yea some shifter play but again not specified if it's 3.8 or 4.6