need help deciding a 3rd vehicle for winter

[Mike 91 318ic]

Hey guys, I can't seem to get my head around what vehicle I should get for winter, and I'd like to hear your opinions. Here's my criteria:
- Must be AWD
- Large enough to fit large baby seat, and large cargo room to fit a massive mountain buggy stroller plus other shit...
- Decent fuel economy, cheap to run (ie low maintenance)
- Under $10k
- Fully loaded
- Service History, Local
What's a good vehicle in that price range that meets the criteria?
So far I've found a mid 90's audi A6 http://vancouver.craigslist.org/car/382202021.html
a late 80's 325ix http://vancouver.craigslist.org/car/396514738.html
both of which I'd offer 5k for, and there are several cherokees that look decent but so far I can't find a Classic Cherokee with the Selec-Trac np242 T-case which gives part time and full time 4x4 not just part time.

I currently have a 94 cherokee that still runs great, (wifes vehicle) but will need around $1500 worth of work within 12 months, so I'm thinking that truck will be traded in for a newer cherokee for the wife within that time frame. In 2-3 months I have a deal coming due that might pay off six figures. If this happens should I pay down my massive mortgage, or buy a 2003-2004 Land Rover SE7 or BMW X5 which I've been wanting for a long time now and put less money down on the mortgage? Mortgage free would be a dream, but I also deserve a newish vehicle, and so does the wife. Any ideas?

TIA
Mike
P.S. the cabrio stays, I'm saving it for my boy

[puppypilgrim]

Here we go:

1. Pay down mortgage with windfall money. Get the house reappraised. Given the rise in local real estate, your house is worth more today than one year ago

2. Use the increase in equity in the home to open a new secured line of credit (separate from any existing line of credit).

3. Invest the amount in that line of credit in an income fund that pays better than 8%

4. The interest you pay on the line of credit is tax deductible against the income you are making from the investment

5. Use the tax efficient income from the investment to pay for a lease payment on your vehicle of choice

You may have to tweak the numbers a bit (depends on your overall equity in the house and your preferential rate of borrowing with the bank and investment vehicle) but the overall principle is correct.

DISCLAIMER: I take NO RESPONSIBILITY for giving free advice on an internet forum. You follow this advice at your own risk. Always CONSULT A FINANCE PROFESSIONAL or your ACCOUNTANT before entering into a lease or financial commitment. Blah, blah, blah.


You can always find a leasing company to lease a used Land Rover (not very reliable), or a used X5 or better yet, a Jeep SRT8

[craig4ie]

2003-2004 Land Rover SE7

All new LR products are best avoided. I used to to work for a LR dealer and they are basketcases, especially the Discoveries.

[sigwiig]

if you take AWD out of the equation i would humbly suggest a Toyota Camry wagon from the mid 90's (get a good set of snow tires, you're set)... or a mercedes wagon, but i imagine this would be a more costly 'investment' similar to what you should expect if purchasing the Audi.

I would think the ix would be too small for a car seat, let alone the stroller.

[murphymurf]

Here is a subject I know..... cars and baby seats :)

I would recomend a Nissan pathfinder. I bought one new in 2001 and it was the greatest vehicle I have owned in terms of reliability and maintanence. Never had one problem with it in 5 years. But make sure you look for a 2001, that's the year they switched to the bigger motor, decent on gas ( it really was) and lots of power (3.5L, 250hp, same engine as the Z). It's not on a truck frame ( independent suspension) like most so it drives better. Enough room for baby seat and stroller, has full time and part time 4x4. I wish I still had it. Sold it and bought a new Nissan Quest ( kids began multiplying), I was so impressed with the reliablity I stuck with Nissan.

If you look around you can find a 2001 for $10k, and you might even get lucky and find a 5speed which go for even less.....

[Mike 91 318ic]

I thought the 03-04 models were greatly improved, what kind of problems did you come across? Also what did you do at LR?

tks
Mike
All new LR products are best avoided. I used to to work for a LR dealer and they are basketcases, especially the Discoveries.

[Mike 91 318ic]

That makes sense, plus I can write off a good portion of my lease payments but I honestly hate monthly payments so I'd have to write off the entire car and use a yearly depreciation scale.

M

Here we go:

1. Pay down mortgage with windfall money. Get the house reappraised. Given the rise in local real estate, your house is worth more today than one year ago

2. Use the increase in equity in the home to open a new secured line of credit (separate from any existing line of credit).

3. Invest the amount in that line of credit in an income fund that pays better than 8%

4. The interest you pay on the line of credit is tax deductible against the income you are making from the investment

5. Use the tax efficient income from the investment to pay for a lease payment on your vehicle of choice

You may have to tweak the numbers a bit (depends on your overall equity in the house and your preferential rate of borrowing with the bank and investment vehicle) but the overall principle is correct.

DISCLAIMER: I take NO RESPONSIBILITY for giving free advice on an internet forum. You follow this advice at your own risk. Always CONSULT A FINANCE PROFESSIONAL or your ACCOUNTANT before entering into a lease or financial commitment. Blah, blah, blah.


You can always find a leasing company to lease a used Land Rover (not very reliable), or a used X5 or better yet, a Jeep SRT8

[Mike 91 318ic]

I'll check into those, my dad had a late 90's pathfinder and was a decent truck.

Here is a subject I know..... cars and baby seats :)

I would recomend a Nissan pathfinder. I bought one new in 2001 and it was the greatest vehicle I have owned in terms of reliability and maintanence. Never had one problem with it in 5 years. But make sure you look for a 2001, that's the year they switched to the bigger motor, decent on gas ( it really was) and lots of power (3.5L, 250hp, same engine as the Z). It's not on a truck frame ( independent suspension) like most so it drives better. Enough room for baby seat and stroller, has full time and part time 4x4. I wish I still had it. Sold it and bought a new Nissan Quest ( kids began multiplying), I was so impressed with the reliablity I stuck with Nissan.

If you look around you can find a 2001 for $10k, and you might even get lucky and find a 5speed which go for even less.....

[redhatpat]

Long term, a lower mortgage will be a big benefit financially. That's where my wife and I are focussing any "extra" money we can get. What little of it there is... :)

I've found my e30 to be suprisingly roomy for two car seats and stroller, plus assorted other child things. For the full family travelling we have a minivan. Tons of room in that sucker.

[onaquest]

- Large enough to fit large baby seat

Get something newish with airbags if you've that kinda cargo. :D

[tedski]

Ever consider a late 90's Legarcy wagon, should fit your budget, a supprisingly big trunk and back seat.

I would avoid Audi, wife is currently driving an late model A4, have it on a flat deck to the warrantly service twice in 4 years :confused: ,car is fun and handle beautifully, but reliability is questionable.

On the other side, I used to own 2 older Land Rovers, and I swear by them ...... may be I am just lucky.

Good luck on your search.

Ted

[Mike 91 318ic]

babies and airbags don't mix

Get something newish with airbags if you've that kinda cargo. :D

[craig4ie]

I thought the 03-04 models were greatly improved, what kind of problems did you come across? Also what did you do at LR?

tks
Mike

I worked for MCL(Northshore Jaguar) as a lot guy. The 03/04 Discos drive nicer than their older counterparts but they still had tons of flaws. At NS jag we bought lots 03/04 discos from hertz rentals for used stock. They were constantly in and out of the shop with check engine lights, interior leaks (far too common), random stuff not working ect. ect.

They depriciate quicky so you don't wanna buy em new and when they're out of warranty they are expensive to keep going. They also have a large appetite for tires and brakes.

[kowalski]

i second the pathfinder idea, those later 90's toyota's can take a beating and a half and still keep comming back. my brother had a 97 tacoma with the 5 speed and we did almost everything we could think of to that thing including big air competitions and when it came time to sell it it still ran like new. in the history of owning it all that needed to be replaced, other then shocks... were the filters and some spark plugs. and it had about 270,000km's

[DS Rook]

i second the pathfinder idea, those later 90's toyota's can take a beating and a half and still keep comming back. my brother had a 97 tacoma with the 5 speed and we did almost everything we could think of to that thing including big air competitions and when it came time to sell it it still ran like new. in the history of owning it all that needed to be replaced, other then shocks... were the filters and some spark plugs. and it had about 270,000km's

I agree with the toyota as well. I had a 92 SR5 4x4, and when i sold it, it also had in the range of three hundred thousand K's on it. Only did the brakes once, and it was still on the original clutch, although a bit tired. Truck ran like a dream. these thing s don't depreciate much like others. bought it for around 16k sold it with 300,000k for 13500. Sold in a day.
If you want a good suv/sav go with toyota. Although, they like the fuel :)