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Old 05-11-2013, 12:53 PM   #11
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People on here must be Suze Orman fans...

Who cares about the money your going to lose, sooner or later everyones car will be sitting in a dump or be made into nails or some other recyclable good. Cars are not a good investment period.

If your not happy with the DCT (nether am I) dump it, you only live once so they say. What's worse being miserable and driving around in a car that you despise or bankrolling an extra few thousand that you can look at in a virtual number and pat yourself on the back.

I do suggest you build more equity and wait a little longer, the ST might not be the best solution if you just want a manual and not the sporty look and more HP. Trust me it will get and look old fast once the novelty wears off. I thought about doing the same thing, but changed my mind for now. Also you might be better off trading your car in for a used ST, there will plenty out there once the novelty wears off in a year or so and save the depreciation and get what you want in the end.

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Old 05-12-2013, 01:13 PM   #12
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Try PenFed.com Pentegon Federal Credit Union they have 1.79% right now. I got 1.49% the beginning of the year, they are easy to work with.
I got my car loan through penfed as well. 1.49% is hard to beat.
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Old 05-12-2013, 01:52 PM   #13
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From a financial point of view, that would clearly be a STupid thing to do.

That's may not be a good idea. Going to a dealer and test driving a car causes some people to make STupid irrational decisions.
I see what you did there

If the DCT is truly your problem, trade for a manual and you're losses will be considerably less. Your problem will be solved and your finances well remain relatively intact.

In all honesty, to me it sounds like you want a ST and your cognitive dissonance is trying to justify taking a bath. The only way you're going to truly be happy with whatever direction you take is by coming to terms with whatever you value most-the car or your finances. As stated above, a car is a depreciating asset to start with-let alone rolling over negative equity. The counter-argument is that if you aren't happy with the car anyways, continuing to pay on it while it depreciates even more is just a slap in the face.

I speak from experience as I traded in my SEL with 1100 miles on the Ti that I drive now. Not only did I take a bath on the trade, I also got the beloved clunk with the Ti that the SEL didn't have. So not only did a make a crappy financial decision; I also inherited problems.

Believe it or not, I'm happier with the Ti. I resolved my conflict by deciding what was more important-my car payment or the car that I have to drive. If the finances were an issue then the problem would have been solved differently. I chose the car over the payment and stand by my decision. That's all you have to do-decide what is most important to you and stick with it.
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Old 05-12-2013, 07:14 PM   #14
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I see what you did there

If the DCT is truly your problem, trade for a manual and you're losses will be considerably less. Your problem will be solved and your finances well remain relatively intact.

In all honesty, to me it sounds like you want a ST and your cognitive dissonance is trying to justify taking a bath. The only way you're going to truly be happy with whatever direction you take is by coming to terms with whatever you value most-the car or your finances. As stated above, a car is a depreciating asset to start with-let alone rolling over negative equity. The counter-argument is that if you aren't happy with the car anyways, continuing to pay on it while it depreciates even more is just a slap in the face.

I speak from experience as I traded in my SEL with 1100 miles on the Ti that I drive now. Not only did I take a bath on the trade, I also got the beloved clunk with the Ti that the SEL didn't have. So not only did a make a crappy financial decision; I also inherited problems.

Believe it or not, I'm happier with the Ti. I resolved my conflict by deciding what was more important-my car payment or the car that I have to drive. If the finances were an issue then the problem would have been solved differently. I chose the car over the payment and stand by my decision. That's all you have to do-decide what is most important to you and stick with it.
Basically this is pretty much the case. I didn't have any issues with the DCT as far as it clunking/ shuddering / falling apart, and having a paid for new or nearly new car was one of my goals after finishing University, so I was playing a bit of devils advocate by saying if it's just the DCT that you have an issue with the Focus SE or Ti with the 5MT would get you out of the DCT equipped Focus for a lower loss.

However in my case I wouldn't have been happy with the 5 speed as it felt like taking a step backwards towards my last car which was 18 years old when I replaced it with my SEL last year and had over 235k miles on it over 44k of which I put on myself learning to drive a manual in that car.

The ST is an amazing drive so far even though I only have around 750 miles on the car at the moment. I was fairly satisfied with the DCT except for the little rocker switch for the select shift mode and the programming when in manual mode being a bit slow to actually follow the issued commands. I had been driving it manually a lot anyway just because I liked having the control over the computer, but it was very much a case of it would shift only when it wanted to, if I asked it a millisecond too soon the computer said no and you ended up revving more than you intended to. In drive it was very responsive and would drop down 1-2 gears readily in stark contrast to some other reports I've heard.

It did really well on the dyno as well as on the track, but it just made me want the ST even more especially after having had to replace a damaged bumper cover and choosing the ST parts to get a feel for it in Frosted Glass. I wish ford would have brought over the wagon and also allowed the ST to come in this color, it was gorgeous, but it would cost more to convert the engine and gearbox, and brakes, and all the other bits than it would be to take a bit of a bath on the trade. Technically I owned the car though so I didn't have to deal with the finance company at the time of the trade.

So far I'm happier with the ST and despite the extra performance have only given up a few MPG in my commute, although I have slightly modified the route at times to avoid some of the bad traffic, not that it always works.
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Old 05-12-2013, 11:09 PM   #15
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People on here must be Suze Orman fans...

Who cares about the money your going to lose...
Many people are living paycheck to paycheck, have significant credit card debt, should be saving for a home (or at least have some money in the bank for a rainy day), etc., etc.

You seem to be suggesting that buying a car based on a whim (and not on one's needs or what one can comfortably afford) is never a bad idea simply because "you only live once".

As you correctly pointed out "it will get and look old fast once the novelty wears off". That is actually a pretty good reason not to throw money away.
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Old 05-13-2013, 11:15 AM   #16
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Many people are living paycheck to paycheck, have significant credit card debt, should be saving for a home (or at least have some money in the bank for a rainy day), etc., etc.

You seem to be suggesting that buying a car based on a whim (and not on one's needs or what one can comfortably afford) is never a bad idea simply because "you only live once".

As you correctly pointed out "it will get and look old fast once the novelty wears off". That is actually a pretty good reason not to throw money away.


Buying a home is not the appreciating asset it once was, a lot of people fell victim to that and foreclosures are very high and increasing. I have neighbors and know people who are upside down on their homes from the tune of $100K to $400K. That's more of a hit than the original poster will take on a trade in.

The ST in the ST3 package is priced at the average price of a car in the US. We are not talking a M3 or Porsche Caymen here. ST1 is a big savings over the ST3 to get the MT and the engine, the other stuff is eye candy in my opinion.

There is nothing worse than being stuck with a 5 year loan on a car that does not give you something to work for. Depending on the person's finances and of course other debts, they should wisely choose whether or not it's a good idea to take the hit. For some people, they may be able to do this without having too much damage, say they have no other debts and a good stable job. For some the loss of money is in material based on being miserable and unhappy, it's like a bad marriage sooner or later it's going to end in an expensive divorce.

"or at least have some money in the bank for a rainy day" spoken like a pure Suze Orman fan...if your living paycheck to paycheck with tons of credit card debt, a rainy day fund will be made of unobtanium.

About the novelty wearing off, it's subjective but often you can use this to your advantage and buy something in nice condition and save the depreciation you will get hit with.
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Old 05-13-2013, 11:32 AM   #17
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Buying a home is still one of the best invesments and like kissing it's all about location. Florida is a prime location to get a steal on a nice home since the market is so poor but alot of places (like Colorado) are seeing recovery and the housing and construction market has had a good upturn around here. Foreclosures are also at an all time low since '08 so still good to save for a home.

Ok,back on topic and yes,don't go upside down on a car like an ST since the depreciation is pretty bad for a Focus the way it is;stick with something in your budget and keep the drowning to a minimum.
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Old 05-14-2013, 11:27 AM   #18
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Buying a home is still one of the best invesments and like kissing it's all about location. Florida is a prime location to get a steal on a nice home since the market is so poor but alot of places (like Colorado) are seeing recovery and the housing and construction market has had a good upturn around here. Foreclosures are also at an all time low since '08 so still good to save for a home.

Ok,back on topic and yes,don't go upside down on a car like an ST since the depreciation is pretty bad for a Focus the way it is;stick with something in your budget and keep the drowning to a minimum.
Homes here in South Florida were severely overpriced during the bubble, at one time you could buy a new CBS construction home with stucco and barrel tile roof in a gated community for $125K-150K, in 2004 those sames homes were pushing $300K+ and selling like mad.

There are some bargains now if you have the money or have a lot to put down but in relation to the average incomes here, it's still not as affordable as it once was. Also keep in mind our home owners insurance is insanely expensive.

Good thing about a car, you can drive in it away, a home is not going with you if you have to move or leave due to a job loss. Run to the hills...run for your lifeeeeeeee.
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