The Cars that Go Boom

One area that we've splurged on during the last several years has been on cars. I'm on my second Infiniti lease, a 2003 M45 and partner has a 2002 Mercedes C32 AMG on lease. Yeah, yeah, yeah, yes we know that leasing new luxury import cars every few years is the most expensive way to get around but it's been our weakness. And within the last 3 years, we also had a Jeep Grand Cherokee (the highest priced one with the V8 5.6L engine), an Infiniti I30t and a late model Nissan 300zx. But no more! Or at least we've come to the realization that expensive cars = high monthly payments...duh! The lease payment on the C32 is about $850 including tax monthly. The M45 is $450 but I can live with that. We don't exactly want to drive a Corolla but don't need to upgrade anymore and will probably downgrade next time. Cars in the $25k to $35k have noticeably improved in both horsepower and refinement. I still scratch my head over that $850 monthly payment on the C32 (and that is on top of the significant initial down payment). That's what you get for leasing a limited availability model that has way too much horsepower. My mom was right (although I won't admit that to her of course) that leasing new cars is the work of the devil.

The monthly payments on the C32 are especially painful because we don't particularly want the car anymore but rather just finishing out the lease which ends in Dec 2005. If you've read any of the vehicle quality surveys, you've probably noticed that Mercedes is surprisingly near the bottom of the list. But it's no surprise to us. Over the last 3.5 years, there have been half a dozen aggravating quality issues that range from persistent check engine lights to a fairly major issue with the front suspension. I've been very satisfied with both Infinitis though as they were both relative good values versus other cars in their respective categories. Didn't have a single issue with the Infiniti I30t during the 48 month lease either. At the end of the M45 lease in 2 years, I'll strongly consider buying it outright. With 9 months left on the C32, only have about 4k miles left before reaching the mileage limitation and having to pay 23 cent per mile overage. Not a pretty thought. So we're planning to get a replacement vehicle within the next few months so that the C32 isn't driven as a primary.

Flipping through the paper this morning, came across an a loss leader ad for a Dodge Durango. It's a reasonably equipped mid-sized SUV that has some good reviews. Because of the ridiculous gas prices the last couple of years and increasing popularity of hybrid vehicles, sales of gas guzzler SUVs has fallen significantly. This $28k Durango was advertised for $18k. It's not the souped up trim model with leather and the high end features such as heated seats (yes, heated seats come in very handy even in southern California). But, for a base model, it was fairly well appointed with quality cloth seats, CD and a nice fit and finish to the dash and a powerful V8. The dimensions of the Durango are large but not enormous. Noticeably bigger than a Jeep Cherokee but smaller than an Excursion. We took it for a drive and it handled well especially for its size. We were interested but not enough to do the whole "let's go into the office and discuss some numbers" game. The ad was actually for a dealership in Cerritos and we were a dealership near home in Tustin. If we decide we want an SUV that large, it'll be a no brainer for $18k.

Next, we hopped across the street to the Acura dealership to see some Acura MDXs. Acuras retain their value much better than Dodges to say the least. A 2001 MDX was still around $23k. A 2005 MDX is around $40k. We didn't take one for a drive but will keep an eye out for a used one from a private party. The size is just right and the styling is modern if not on the bland side.

One last stop was the Infiniti dealership so I could check out the new 2005 M35/M45. The interior is very high tech but a bit fussy. Too many buttons and gizmos. It's an interior that won't fail to impress even the most jaded though.

On the way home, went to Costco to pick up a couple of items. $93 dollars later, we were out of there. Who knew that we would have to have, amongst other things:

1. a 12 pack of canned tuna $7
2. 32 oz jar of minced garlic $3
3. gourmet crab cakes, $10
4. post-St. Paddy's Day corned beef brisket $5
5. hmmmm....where'd the other $70 go??

I don't even remember what I had originally planned to pick up there in the first place.

Total Spent Today:
$5 for quick lunch for two at Costco (they make a mean chicken bake)
$93 in misc Costco food (enough for at least 12 entrees though)
$12 for 2 evening movie tickets (saved $7 with Entertainment coupon for Edwards Theaters, snuck in 2 cans of soda and some candy)
$13 for 2 combo meals at quick casual restaurant (only had 15 minutes to eat before movie)