Last post on Oct 31, 2011 at 2:14 PM
You are in the Ford Explorer
What is this discussion about?
Ford Explorer, Mercury Mountaineer, SUV
#2688 of 3348 Re: Made the plunge [midas72]
Jul 03, 2005 (3:57 am)
Now THERE is something we can agree upon! Debt free is the way to go. Problem is that for most people, becoming debt free requires what I call the "hunker down" period. The older and more settled you are before you figure this out (if ever), the harder and longer the "hunker period" is. Truth be told, I delayed buying my first house for a few years because I wanted to pay cash. And I did...have owned three houses in 22 years and never had a mortgage. I wouldn't even know how to apply!
Anyway, I didn't mean to beat you up about the used Explorer. I do think that the new vehicle was the better value (and maybe you should have financed that extra $7000 and paid it off quickly). But your overall strategy of being debt free shows you have the "big picture" very right. I hope your Explorer goes many miles! Our Mountaineer is at 37K miles and approaching it's 3rd birthday in September (it was the first 2003 our dealer delivered...I ordered it special in July 2002). So far...knock on wood...it's been much more trouble free than the 1995, 1997 or 1999 Explorers we had before it. I've never kept a vehicle more than 3 years but my wife is now working retail and it sits all day in a busy parking lot (can you say "door dings"?). So I've decided she is going to drive this until the wheels rot off as it just makes no sense to put a brand new vehicle into that parking lot day after day. I just hope it doesn't nickel and dime me to death as some Ford (and, I guess, other make) owners have experienced.
#2689 of 3348 Re: Made the plunge [daryll44]
by Stever@Edmunds HOST
Jul 03, 2005 (7:21 am)
Then you've missed out on the home mortgage loopho..er, exemption while paying rent instead of building equity. Although houses aren't always appreciating assets either (I know, I was upside down for 6 years during a bust period in the 80's).
People have different comfort levels with debt and if you aren't lying awake at night worrying about your car loan, then you're probably fine. Maybe the person with the six year car loan at 4.5% has the funds tied up in a REIT that's throwing off 12%.
And if you really want to enjoy a good cash flow, drive them forever. My record is 17 years.
The holiday is half over; let's start easing back to Explorer talk and leave the debt philosophy for the Smart Shopper forum shall we?
#2690 of 3348 Re: Made the plunge [steve_]
Jul 03, 2005 (7:35 am)
Missed on on nothing...lived with mommy for free...and that was back in the early 1980s....ancient history. And REITS are not "yielding" ANYWHERE NEAR 12%...more like 4 to 5%. Although they have APPRECIATED quite a bit in recent years...I know...I own a boatload....er...Explorerload. And yes, what goes up can and often does come back down...and HARD!
Fine to stay ontopic from here on out.
#2691 of 3348 Re: Made the plunge [daryll44], Steve 17 years
Jul 03, 2005 (10:32 am)
LOL- yes, we too have a Mountaineer load of REITs - oil & gas and real estate (plus 9 rental houses - talk about an Explorer load of paperwork).
Back on topic, I think it shows that the Explorer and Mounatineer are excellent values when people who are investors, not spenders, are buying them. Speaking of the 2006 models, for about the average new car price, what else could someone buy which has rear or all/4 wheel drive, an excellent V8 and 6-speed automatic, an independent rear suspension, a smooth and quiet ride (if what Ford says in the Mountaineer media kit is true), good handling, one of, if not the best, stability control systems around, side air bags, an excellent sound system, a fancy interior, seats for 5 or seven, plenty of cargo space, and kinds of nice little features which are so handy - a compass, power everything, heated mirrors, speed compensated sound system volume, and so forth. You could easily spend 50% more for something like the new ML-500 and still have less cargo space (and good luck finding an ML-500 without all kinds of expensive options, or trying to order one at or near the invoice price).
Wow Steve, 17 years is a long time - what kind of vehicle? I still see old El Caminos and Rancheros on the road, some of them looking as good or better than new. If not for the radical improvements in safety features in the past few years, I think that many of us might have kept some of our vehicles for more years. The mechanical parts are not too bad, but the interior and body parts start to become very expensive.
#2692 of 3348 Re: Made the plunge [daryll44], Steve 17 years [fsmmcsi]
by Stever@Edmunds HOST
Jul 03, 2005 (10:44 am)
Oh sure, lead me down the off-topic path again.
It was an '82 Tercel, and I would still be driving it but we sold almost everything for the Millenium and did a year long road trip in our Ford*, winding up in a different state when we settled back down.
[*ok, our Ford is a Quest minivan, but it was assembled by Ford in Ohio - how's that for being sort of topical?].
Jul 03, 2005 (12:03 pm)
I see your point...however, my wife has waited 19 years to replace her former pickup truck (1975 Toyota), and we finally took the plunge and made one of our vehicles a full size pickup...this truck will be hers, and there is no "getting tired of it" and replace with another pickup...now, if she wants an SUV, then we take a bad hit on trade-in, but she is not fond of SUV like I am, so she has her brand new vehicle for the next 10 years, unless gas goes to $5 per gallon, and she has a yard ornament for 10 years and beyond...
#2694 of 3348 Re: Made the plunge [daryll44], Steve 17 years [fsmmcsi] [steve_]
Jul 03, 2005 (4:33 pm)
It sure would be fun to take the new Explorer on a year long trip and really see the USA (Oops, that's a Chevy jingle). Glad to hear that you did it.
#2695 of 3348 Re: Made the plunge [daryll44], Steve 17 years [fsmmcsi] [steve_] [fsmmcsi]
Jul 04, 2005 (4:46 pm)
that went over 'like a rock'.
#2696 of 3348 Remember the Life Boat GM ads?
Jul 05, 2005 (6:58 am)
My favorite stupid GM truck ad was the one in the car rags showing the truck hanging from life boat divits on a cruise ship and right below the truck was the "like a rock" slogan...
Now WHO wants a life boat built like rock?
#2697 of 3348 I Hate TO Say it, but..
Jul 05, 2005 (11:55 am)
...that $20,000 three year old Explorer is looking like a "worser and worser" deal all the time. Now Ford announced they'll meet GM's deals...this means an XLT can probably be bot for about $25K, BRAND SPANKING NEW.