What to do with a 2005 Navigator with a bad engine?

[black2002ls]

I'm not a car expert by any means, but my philosophy (and it's worked for me) is that I do tons of homework before I buy. I study and research to get what I want/what's best for me at the best price. Then...I roll the shit forever. I bought a Toyota T100 in '96. Sold it in 2013. Bought a Toyota Sienna in 2004. Sold it in 2014. Bought a Ford Edge in 2010. Wife is still driving it now even after I put an engine in it (used) last summer. Bought my Focus ST in 2014, and I'll be driving it for many years or my son will. I bought my Mustang used in 2002, and I still have it.

Basically, I would figure out what vehicle is going to work for you for a very long time. I'd do whatever I could to get into it so your payment is going towards something you'll keep. Pay it off, and then roll it as long as you can.

That is generally my style. I've truly owned/driven 4 vehicles in my 20 years of driving. 2 of which had their lives cut short by circumstances beyond my control. When my last S-10 died, I knew what was wrong, but I was tired of it, and it no longer truly met my needs. Though I was so frustrated with it, and chasing gremlins that I hastily bought my civic. Which, has been a great little car, but I made an emotional decision when I bought it. Ended up financing almost 20K for a base model civic with a couple of options with low miles. Not thinking about the fact that I would be putting 30K miles a year on it and be completely tanked in the turd in 12 months! My wife on the other hand picked up her edge shortly after I bought the Civic. At the time, it was perfect for us, and if it wasn't for the kiddo, we would be driving the thing into the ground, just like I've done every car that I've owned! Though, with the addition of Lance and most of our friends having kids, It has become a chore to head to the grocery store, or go on a trip with friends when we decide to. Strollers, baby carriers, diaper bags, and all of the "stuff" that goes along with an infant/toddler just takes up too much of the cargo room in the edge. We could probably make it another couple of years and I will push it as long as I am able to, or until she forces my hand! Once we start factoring in baseball gear and all of the other stuff, it will no longer meet our needs. I'm wondering, with all of this coming to light, is it in my best interest to wait and see how this plays out and pick up a brand new bigger SUV at a lower price due to market conditions, or one of these lease returns, etc. Or, will the value on my car also drop to the point where I am either continually 2500-3K upside down or even more so.

We won't even talk about the civic. I'm effing 6K upside down in that turd and I could really use a full size truck. It is difficult moving material, driveway barricades, etc around the subdivision in a civic coupe!

[Baron Von Crowder]

Maybe we should start a new thread, but here it is anyway. We are outgrowing our current vehicle and have been looking into upgrading. We are about $2500 upside down so I've been trying to wait for that to even out a bit, as well as be in a position to buy where we don't have to finance out to 72 months and be in the same position if the need arises to trade it in. What do the guys here "in the know" have to say about this kind of situation? Am I better off to trade now and take the hit, or wait until later in the year and hope my current cars value doesn't take a huge hit?

I'm not a car expert by any means, but my philosophy (and it's worked for me) is that I do tons of homework before I buy. I study and research to get what I want/what's best for me at the best price. Then...I roll the shit forever. I bought a Toyota T100 in '96. Sold it in 2013. Bought a Toyota Sienna in 2004. Sold it in 2014. Bought a Ford Edge in 2010. Wife is still driving it now even after I put an engine in it (used) last summer. Bought my Focus ST in 2014, and I'll be driving it for many years or my son will. I bought my Mustang used in 2002, and I still have it.

Basically, I would figure out what vehicle is going to work for you for a very long time. I'd do whatever I could to get into it so your payment is going towards something you'll keep. Pay it off, and then roll it as long as you can.

We keep ours for years also. We just sold the wife's 05 highlander that we bought in 06 last month. She wanted something larger, we I put her in a cheap expedition. Now we are looking for something that doenst have 300k on it for her. I'm still driving my 03 dodge that I bought in 05.

[JC316]

The used car market is going to tank by up to 50% in next couple of years.

put it on craigs list and pray

Care to elaborate on that?

New cars will be so cheap, nobody will want to buy used again.

Judging by current pricing, I don't think used car sales are going anywhere, if anything the returned leases are going to make it stronger. There will be more supply for sure, but there will also be more demand. Something else to look at are the multiple tiers of dealerships.

1. You have the tote the note lots that sell utter shit for dirt cheap.

2. You have the smaller lots that sell the $2-$5k cars.

3. You have the slightly larger lots that do credit check financing and sell $8-$15k cars.

4. You have those giant certified pre owned places.


I can think of two big names in the giant business, that's Carmax and Autonation, people like that are going to be sucking up all of these leases. Those customers would never go to the first two tier lots anyway, so no business will be lost there.

The only ones that might be hurt are those middle lots that sell the newer stuff above $10k, people might just stretch the budget a bit and go get one of the really new ones from a large lot.

[Sean88gt]

I see the access to easy credit increasing to prevent the auto industry from shitting the bed.

Christ...a friend of mine owns a motorcycle dealership and they are offering sub prime loans for dirt bikes.

[Baron Von Crowder]

Judging by current pricing, I don't think used car sales are going anywhere, if anything the returned leases are going to make it stronger. There will be more supply for sure, but there will also be more demand. Something else to look at are the multiple tiers of dealerships.

1. You have the tote the note lots that sell utter shit for dirt cheap.

2. You have the smaller lots that sell the $2-$5k cars.

3. You have the slightly larger lots that do credit check financing and sell $8-$15k cars.

4. You have those giant certified pre owned places.


I can think of two big names in the giant business, that's Carmax and Autonation, people like that are going to be sucking up all of these leases. Those customers would never go to the first two tier lots anyway, so no business will be lost there.

The only ones that might be hurt are those middle lots that sell the newer stuff above $10k, people might just stretch the budget a bit and go get one of the really new ones from a large lot.

You are out of your goddamn mind to think the lease trade ins wont bring the price down. If there are 150 2015 explorers with 36k on them at every auction, they wont go for top dollar, they will be begging to sell them. Carmax and autonation (autonation is a new car dealership group) wont flood their lots with a ton of them.

The new car dealers will have a full lot of lease returns, and they will overflow to the auctions. Used car dealers wont pay to have 10 on their lot plan for several months, they will drop the price to move them, just like the dealership used car department.

[4king]

The market is going to be flooded with mid size sedans and small suvs.

In the next year or two you will be able to buy any 2-3 year old car or small SUV for $6-$8k with under 80k miles

The under 10k market will be flooded with fusions, escapes, equinoxes, fiestas, cobalts, Malibu, sonatas, elantras, santefe's, Kia souls, insert any other generic under 20k car here

The under 10k used car market has been non existent the past 5 years, you couldn't finance anything that wasn't garbage.

You're about to see a flood of them. Initially being a good thing, now people who pay at tote the note lots get used cars, then you start to realize you can't give away your old car on a trade in because it's not worth half of what you owe. Guess what you do, you use the trade in as a down payment on a lease.

So your brand new 20k car is going to depreciate to 10k or less in 3 years time. It's going to fuck up vehicle financing because no one will want to buy

People are so fucked up in payments it's really rediculous that more people aren't already leasing.

The bmw market has been this way for years in big cities, but will now really start hitting everywhere.

I can recall seeing a market survey on used luxury car values, and a used bmw in a major city had a 30% lower retail value because of lease returns. Study actually showed Tulsa dealers coming to dallas to purchase used vehicles at auctions and marking large profit margins

[BLAKE]

Interesting convo on future market stuff. I don't mind it being in here, so no reason to start a new thread as far as I'm concerned.

blake, send me info, picts, etc.

Pics as requested:
New tires, battery, front air struts, compressor, coil packs

(excuse dad's photo-fingers)

[black2002ls]

Damn. If that thing drives; roll it through a subdivision with active construction with for sale and a phone number big on the glass. You'll find a "labor worker" that will give you a couple thousand for it.

Sent from my SAMSUNG-SM-G930A using Tapatalk

[BLAKE]

Well, never mind. Dad just got $2,500 trade in for it on a Buick (??)

[Baron Von Crowder]

Well, never mind. Dad just got $2,500 trade in for it on a Buick (??)

shit happens.

[yellowstang]

Well, never mind. Dad just got $2,500 trade in for it on a Buick (??)

Glad he got rid of it!

My Dad had a Buick, Mom hated it. Now they drive a Volvo.

[BLAKE]

You know, over the years I have resigned myself to the fact that anytime anyone asks for the car guy's advice, they're probably not going to take it. That's ok, he got something he likes that's not going to need repairs and got a fair deal so it's a win.

By my estimation, GM has gotten better in recent years and Buicks have gotten better looking, and once again, he's happy. That's all that really matters.

[Silverback]

old people still relate Buick to quality

[BLAKE]

old people still relate Buick to quality

Hah, to be fair, they at least look and feel fancy as hell these days. I haven't driven one though.

[Chili]

Damn, that thing was clean! Looked bagged in front.