Last Stinger Sold in US?

[fastoy]

I bought my new 2023 Stinger GT2 on January 8, 2024. In that there were only 11 sold in the US in December 2023 (from CarFigures), has anyone bought a new Stinger in the US AFTER January 8?

 

[Snicklefritz]

I'd be curious. A couple of weeks ago, I enquired at the dealership if they had anymore to lease, and they said their last lease of a Stinger was in May. Ima surprised to read this.

 

[Ah GetFd]

With 50 states I suggest someone has a new car still. It might not be the price you want though as they will be maxing out the price for the last ones.

I don't get this leasing obsession in the states either. You don't own the car until the last payment is made and the car is so much more expensive. I have always had the view that if you have to borrow for a car you can't afford it.

Buy something for cash in your price range. Then it doesn't owe you anything.

 

[Thomby]

I don't get this leasing obsession in the states either. You don't own the car until the last payment is made and the car is so much more expensive. I have always had the view that if you have to borrow for a car you can't afford it.

That's financing -- leasing is basically a long-term rental, with the mileage capped, where you turn in the keys after 2-3 years. For people who want to replace their cars frequently, it eliminates the selling process, and usually there's a buyout option if you want to keep it.

The automaker counts on the leased car retaining a bit more value because the lessee knows he's turning it back in, it's being inspected, etc. And they can play games with leasing rates to buoy resale value (Mercedes used to be known for this).

If the car depreciates as expected, it's a wash and your buyout is about what the car is worth. If the actual value falls off a cliff, you turn the keys over. If it holds its value (or appreciates because of 2020 insanity), you buy for below-market value and "win".

Overall you pay a bit of a premium for that optionality/freedom. For your stereotypical doctor or lawyer who just wants the latest E-Class every few years, it's worth the convenience. For your average debt-strapped joe, probably more expensive but less risky than taking on an 84-month payment (or whatever) that they'll be underwater for half of.

 

[Ah GetFd]

Thanks for that

I was having a bit of a lend

Financing is when you can't afford it....

Leasing unfortunately and here at least relates to tax. You have to lease the vehicle to claim business expences as you can't lease it to yourself if you have the cash to buy it. So you have to take a lease or a bank loan to claim the expences.

It works for anyone who wants to drive the latest car all the time and for companies that want to give employees a company car without the liability of owning it.

 

[Kodiack]

Here in Canada you can claim depreciation on a vehicle either bought or financed every year until it plateaus using black book evaluation.
But leasing still has a distinct advantage as far as taxes are concerned because you arent paying on principal cost and never own the vehicle unless you buy it out. Small business owners usually lease here because of the tax break.

 

[socalvn]

I never lease my hands are tied for what I can do or how far I can drive. I'd rather eat the depreciation on a new car

 

[fastoy]

Has anyone bought a new Stinger in the US AFTER January 8?

 

[Transmetal]

Thanks for that

I was having a bit of a lend

Financing is when you can't afford it....

So you paid cash for your house? Most people don't have that kinda coin, to pay cash for a brand car and a house. I'd rather have a mortgage then rent as my money "mostly" goes to pay for something I own. I'd also rather finance then lease. I can do whatever I want to the car, drive as much or as little, mod it, etc.

I have a mortgage and a car payment on my Stinger, I afford them just fine. My interest rate on both is pretty low. I don't have a crazy 7 year loan on my car. Plan on paying off the Stinger early like I do with all my cars. I have zero interest in resale value on my car. It's not a house, It's worth what it's worth, that's fine with me.

I'm sure I'm different than most but I keep my cars for awhile, I don't really care what it's "worth" after it's paid off. Cars are not an investment, If I like the car, it's reliable, I keep it, if not, I get rid of it. I've literally only sold one car in my life and that was my son's car as a Mercedes is the opposite of cheap and reliable.

 

[Volfy]

I'm sure I'm different than most but I keep my cars for awhile, I don't really care what it's "worth" after it's paid off. Cars are not an investment, If I like the car, it's reliable, I keep it, if not, I get rid of it. I've literally only sold one car in my life and that was my son's car as a Mercedes is the opposite of cheap and reliable.

Cars are indeed depreciating a money pit, anyway you pay for it. This crazy market of the last 2yrs after the pandemic is an anomaly not likely to be repeated any time soon. No more being able to sell your car for more than what you paid for. It reminds me a lot of the housing bubble. I'm sure lots of folks who bought cars at the height of that "bubble" now are sitting on vehicles with upside-down loans.

If you acquire vehicles for business purposes, it can make more sense to lease and write it off as business expense, and not have to account for an expensive asset in inventory. For personal use, at lot depends on the interest rate (and by extension your credit rating). For many years, interest rates were so low. I could finance a car on 1.49% APR for 48 months. It's almost free money and a shame not to take advantage of it. Right now, it's a bit more expensive.

Regardless, I'd rather work out roughly how much having a car would cost me each year it is in my possession, all thing considered, regardless of whether I own it for 2yrs or 4, or 8. That is the best way to compared between cash/financing/leasing. In general, the higher the MSRP and the shorter the ownership duration, the higher the yearly overall cost. This is why I am not keen on changing brand new $60k cars every 2 years. I just don't see getting more than twice the "value" vs., say, buying an almost new $30k one and keeping it for 5+yrs. But that sense of value is very personal. Not mine to judge how others perceive it.

 

[G70LEbyAdoom]

Has anyone bought a new Stinger in the US AFTER January 8?

There are 18 "new" Stingers listed for sale on autotrader still at dealerships. Someone will eventually.

 

[Ah GetFd]

So you paid cash for your house? Most people don't have that kinda coin, to pay cash for a brand car and a house. I'd rather have a mortgage then rent as my money "mostly" goes to pay for something I own. I'd also rather finance then lease. I can do whatever I want to the car, drive as much or as little, mod it, etc.

I have a mortgage and a car payment on my Stinger, I afford them just fine. My interest rate on both is pretty low. I don't have a crazy 7 year loan on my car. Plan on paying off the Stinger early like I do with all my cars. I have zero interest in resale value on my car. It's not a house, It's worth what it's worth, that's fine with me.

I'm sure I'm different than most but I keep my cars for awhile, I don't really care what it's "worth" after it's paid off. Cars are not an investment, If I like the car, it's reliable, I keep it, if not, I get rid of it. I've literally only sold one car in my life and that was my son's car as a Mercedes is the opposite of cheap and reliable.

Didn't pay cash for a house

A house is not a car

Houses go up in value cars go down.

Paying more and more for a depreciating asset is dumb.

I paid my house off as a priority in the shortest possible time. I drove older cars that I could afford.

I pay CASH for cars and bought two new MY23 Stinger GTs.

Buying an expensive car on finance means you can't afford it.

Lower your sights.

 

[fastoy]

Houses go up in value cars go down.

I bought a MY2000 Honda S2000 for $11,000 in 2012. I sold it in 2022 for $22,400.

I was LUCKY!

 

[Transmetal]

Didn't pay cash for a house

A house is not a car

Houses go up in value cars go down.

Paying more and more for a depreciating asset is dumb.

I paid my house off as a priority in the shortest possible time. I drove older cars that I could afford.

I pay CASH for cars and bought two new MY23 Stinger GTs.

Buying an expensive car on finance means you can't afford it.

Lower your sights.

I'm good, like I said I afford my car payment just fine, my car will be paid for this year and I only paid 36k in 2020, no way I'd be paying cash or financing 60k for a Stinger. It's a great car but not in that price range. Even if I had it sitting in a bag I wouldn't pay that for a Stinger. At 36k, the Stinger was reasonably priced, not what I'd consider expensive back in 2020 when I bought mine. The stinger will be all paid for and I can use that extra money to put into the house and the Lightning, win/win.

As for the OPs question........I've actually seen a couple Stingers that appeared to be brand new recently. One guy was really old, didn't seem like the type to be on a owners forum but who knows.

 

[G70LEbyAdoom]

Didn't pay cash for a house

A house is not a car

Houses go up in value cars go down.

Paying more and more for a depreciating asset is dumb.

I paid my house off as a priority in the shortest possible time. I drove older cars that I could afford.

I pay CASH for cars and bought two new MY23 Stinger GTs.

Buying an expensive car on finance means you can't afford it.

Lower your sights.

While their can be arguments to and from this approach, Im more interested in why you bought 2 2023 stingers haha

 

[LordKOTL]

With 50 states I suggest someone has a new car still. It might not be the price you want though as they will be maxing out the price for the last ones.

I don't get this leasing obsession in the states either. You don't own the car until the last payment is made and the car is so much more expensive. I have always had the view that if you have to borrow for a car you can't afford it.

Buy something for cash in your price range. Then it doesn't owe you anything.

In the case of my dad and bonus mom, up until very recently they leased cars. Why? Neither wanted to be bothered with keeping up on the repairs and the eventual depreciation in value of a bought/financed vehicle. In their mindset (both are retired), they didn't have any real commute so the miles were kept manageable, because of that they can go on moderate road trips every now and then, most of the scheduled maintenance was covered by the dealer, and by the time it wasn't they just got the latest and greatest grocery-getter there is (Camry, if you're wondering). Until the 2020's car market crash it, to them, was like paying a flat monthly car payment with maintenance included, and every 3 years or so, a brand new car.

It's not the way I'd do things, but I can see how to a retired couple with very little interest in doing their own maintenance or paying for maintenance it would make sense--or anyone else who doesn't want to futz around with a car getting to the point where fixes start nickel and diming you to death. By the time the car starts to have issue, you're in a new one. It is true you never get into the position of actual ownership where there is no car payment, but for some people they can put a price on that peace of mind.

Unfortunately for them the 2020's auto market crash put them in a position where if they continued leasing, they'd have to downgrade, and that was not an option for them so they bought out the lease.

 

[ScottM]

Buying an expensive car on finance means you can't afford it.

Not really, but I guess it's all in how you define "afford" for yourself. I mean, I financed my car and I can afford the payment just fine.

 

[VENOM8R]

I bought my new 2023 Stinger GT2 on January 8, 2024. In that there were only 11 sold in the US in December 2023 (from CarFigures), has anyone bought a new Stinger in the US AFTER January 8?

I bought a 2022 GT1 stinger in AZ on Jan 20th 2024 (9000miles) so it was new to me

 

[Ah GetFd]

This is the dilemma.

Anyone can afford a repayment.

This is why so many have debt problems.

I buy a car when I can afford it outright. We are not talking about houses here that generally appreciate and you can get out of them and still make money. Houses are considered a necessity. Maybe cars are in the US as there has been lack of forsight for public transport. (You can catch a train 24 hours a day in Melbourne) and it has the largest tram network in the world in a city more populated than Los Angeles (5 million+) in just 60kms radius.

I could drive a Lamborghini , a Porsche, a BUGATTI if I just made a payment and never expected to own it.

The downside is;

Unless it is a bank loan someone else owns it until the very last payment.

You miss a payment they take it as they own it and everything you paid is gone.

The amount owed is far more than the car is worth even new.

You try to sell it the finance/lease company still owns it. You need to find some dope willing to pay a cheque straight to your finance/lease company and get you to cough up the difference plus the car.

Or you can take it back to the dealer and rather than YOU owning it, they give you a lowball price which they know you have a debt to someone else, to take it off your hands and sort out the paperwork.

For some reason, people think the car is theirs. You see these idiots on the towing shows in the US that cry when their car is picked up. It's not THEIR car!

Insurance is higher if you don't own it.

So for the sake of driving a car you want that you can never afford outright seems pretty dumb to me.

Yep people do get loans for basic cars they need for 3 or 4 years and actually own them here. Fine.

Signing up for a car that you never own and can return at any time (they win), cos you blew all that money and get nothing back or pay out the residual (they win) because you already paid the car off in theory then have to pay again to keep it, or upgrade to the next model (they win) because they lock you in forever you pay just so much more for a car.

Merc is probably the biggest culprit here. People who haven't got 2 cents, rent a home and generally have a shit job are driving around in Mercs because MB puts them into a car they can never afford and never get out of because the residual is too great, so they simply roll them over into the next model. in the meantime these idiots drive around without paying registration (cos they can't afford it) until caught by Police recognition cameras.

Or they get followed home and get a home invasion because even dumber people think that stealing a Merc to do a ram raid is a status symbol.............

 

[Ohiocruiser]

This is the dilemma.

Anyone can afford a repayment.

This is why so many have debt problems.

I buy a car when I can afford it outright. We are not talking about houses here that generally appreciate and you can get out of them and still make money. Houses are considered a necessity. Maybe cars are in the US as there has been lack of forsight for public transport. (You can catch a train 24 hours a day in Melbourne) and it has the largest tram network in the world in a city more populated than Los Angeles (5 million+) in just 60kms radius.

I could drive a Lamborghini , a Porsche, a BUGATTI if I just made a payment and never expected to own it.

The downside is;

Unless it is a bank loan someone else owns it until the very last payment.

You miss a payment they take it as they own it and everything you paid is gone.

The amount owed is far more than the car is worth even new.

You try to sell it the finance/lease company still owns it. You need to find some dope willing to pay a cheque straight to your finance/lease company and get you to cough up the difference plus the car.

Or you can take it back to the dealer and rather than YOU owning it, they give you a lowball price which they know you have a debt to someone else, to take it off your hands and sort out the paperwork.

For some reason, people think the car is theirs. You see these idiots on the towing shows in the US that cry when their car is picked up. It's not THEIR car!

Insurance is higher if you don't own it.

So for the sake of driving a car you want that you can never afford outright seems pretty dumb to me.

Yep people do get loans for basic cars they need for 3 or 4 years and actually own them here. Fine.

Signing up for a car that you never own and can return at any time (they win), cos you blew all that money and get nothing back or pay out the residual (they win) because you already paid the car off in theory then have to pay again to keep it, or upgrade to the next model (they win) because they lock you in forever you pay just so much more for a car.

Merc is probably the biggest culprit here. People who haven't got 2 cents, rent a home and generally have a shit job are driving around in Mercs because MB puts them into a car they can never afford and never get out of because the residual is too great, so they simply roll them over into the next model. in the meantime these idiots drive around without paying registration (cos they can't afford it) until caught by Police recognition cameras.

Or they get followed home and get a home invasion because even dumber people think that stealing a Merc to do a ram raid is a status symbol.............

Everything you sad about financing a car, you can say the same thing about financing the house. The difference is the house is a lot, lot bigger liability. But I agree with you on, if you have to borrow, you can't afford it. The only way to borrow is borrowing for an asset, considering you get a bigger return than your payment for that asset.