I don’t see how being treated badly by a few dealers here in Houston and me expressing my frustration offended anyone? But I have edited it for your satisfaction.
Thanks for the input.
Yup. Mom takes the Accord. Perfect solution.
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They are treating you poorly because it’s clear you don’t know how to negotiate a lease from your posts and why you have ended up with negative equity 2 times in a row.
Do you want people to help you here or just want sympathy?
Also, grandma is going to be pretty much sitting on the dashboard when jr is behind her in a 330e, so still baffled by the car selection.
Did it twice with German sedans. Even sold them privately. I don’t see the problem as long as you take care of your cars and teach your children the same.
The 330e OTOH raises specific questions around trunk space, etc.
Rolling neg is bad enough due to being taxed again but as someone said above paying a high BMW MF is a double whammy.
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I tried to teach her not to vomit, but she was a slow learner on that for a period of time.
If there is a chorus of people saying the same thing, you should probably listen. You’re not being treated badly, you’re being treated like somebody who really needs somebody else to help them handle their finances.
If you cannot afford to pay the $8K of negative equity off in cash, you should take out a balance transfer credit card with 0% intro APR for 12-18 months, cash a check from that credit card for a 3% one time fee and pay that off in equal installments over the term. You should not be rolling it into a BMW lease where you’ll pay sales tax @ 6-7% and 5% APR, full stop.
If you do not have the cash to pay down the negative equity or the credit score to get a 0% intro credit card, you should not be buying a BMW. But hey, like everybody here is saying, if you want to make another stupid financial decision that you’ll regret in 12 months, go ahead.
e/ I’ve done the math for you and using the standard BMW mf and a tax rate of 6.25% for Houston TX, the total of your payments to escape $8K of negative equity is $9.1K over the 3 year period.
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Second (or third) using the X1 for family duty. Been using our ‘16 for family duty since my son came home from the hospital. It’ll get you through just fine. Recommend a Britax Marathon clicktight once you need a convertible seat to maximize front passenger room.
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Everyone is offering pretty solid advice, it may not be your dream car status type of decision but from the facts alone people are trying to help you see the forest behind the trees.
Also, car seat lady is a great website for learning the ropes for car seats etc and even has suggestions for going 3 way across with some smaller car seats too. For as long as I could manage it I always tried to keep my kid in the middle seat until I had my second child anyway where I had to take both outboard seating positions. All car seats in mid-sized or compact sedans and coupes would literally be the same where the front seat needs to be set at the most forward setting. I would also recommend taking the car seat you are using to try in the car’s backseat installed.
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How is it even possible to be $8k upside down on a Honda Accord?
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When you roll in negative equity from a different lease/loan… sensing a theme?
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Ah. Nothing better than leveraging a $30k base Accord into a $50k base BMW. The neighbors will be impressed!
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OP, is your mother able to get in and out of the Accord? I imagine her physical health may preclude her from getting easily into a coupe?
For what it’s worth… my old supervisor (who was 5’5" no less) had a 2005 Honda Coupe and he kept two back seats in there for his children. It was a tight squeeze, but I’ve known several guys to have coupes and back seats. Sometimes you just gotta do what you gotta do, brother.
We HIGHLY encourage you to NOT roll over 8k in negative. Just keep the Accord a little while longer and if you can financially squeeze it, make principal payments to help with the previous negative equity rolled in.
I’ve been in this negative equity train before, myself. It’s not fun. Learn from other people’s mistakes, don’t roll equity that high in.
I definitely care about what I drive, but right now I drive a banged up RSX Type S. Payed close to nothing for it and it drives great. I’ve got my eye on the prize to get an S5 Sportback in two years. I’m doing what I’m doing now to be able to do that. You sound like a young guy, you can definitely wait the few years to slog through the Accord and finally get something worthy of your money. Just gotta keep your goals set straight.
BMW wouldn’t have sold 300k+ vehicles last year if they didn’t impress the neighborhs.
In fairness, when we needed a second car I came up with an objective list of characteristics and my wife came up with a list of brands we couldn’t look at cause she didn’t like them. I guess Madison Ave is really good at their job.
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If the Honda will only be used to occasionally transport the child, just keep the Honda. It isn’t that hard to get a child into a car seat in a coupe, it is just something that you don’t want to do every day. 2 adults and a child in a car seat will fit easily.
Now that we know you have an RX350, this whole thread seems a bit silly.
Take a step back. You’re asking how to best make a bad financial decision because you may (once a month?) need to transport a child in a car where it is entirely possible, just not convenient. Is that convenience worth paying $250/month - the amount to payoff the negative equity?
Why not tell your mom, “Hey were taking your car to this appointment”. First world problems. I had convertible when my first born was born, it was actually pretty sweet. I’d just put the top down to put him in the back.
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Or just swap cars with wife, when needed.
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Definitely first world problems. Don’t know how we survived with one little Civic when the dude has 2 SUVs in the family.
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Don’t you know? It’s 2019, and everyone that is even thinking about having a child let alone has one ABSOLUTELY REQUIRES an SUV. This is just a fact. Everyone knows that children cannot be transported in anything other than an SUV. Via shame from neighbors and other peers, not driving children in an SUV will lead to extreme developmental disabilities and/or instant death.
Vehicle interior volume directly correlates to childhood happiness and success. 100% of Ivy League graduates were transported to/from elementary school in a 3 row luxury SUV. This is not a coincidence!!!
…
I am soooooo looking forward to when the SUV craze dies it’s inevitable death.
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Unfortunately, even as a “car” guy I have to admit that it won’t die anytime soon. It just hits all the right boxes, especially the newer ones that also handle like a car.
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Off-topic, but I don’t have, want, know anyone with, or even like, kids, at all. But I still have a 3-row SUV. I fully admit that I am part of the problem. #Sorrynotsorry.