CanadaCraig Posted February 7, 2007 Posted February 7, 2007 Hi Guys!! :) I hope you're OK. Apparently - BMW is creating an 8-speed automatic to be used in some of its future cars. Click on THIS to read the story. It's only a matter of time - I suppose - for Mercedes to counter with a 9 or 10 speed. A little bit silly - don't you think?! Craig!! :)
greggebhardt Posted February 7, 2007 Posted February 7, 2007 Hi Guys!! :) I hope you're OK. Apparently - BMW is creating an 8-speed automatic to be used in some of its future cars. Click on THIS to read the story. It's only a matter of time - I suppose - for Mercedes to counter with a 9 or 10 speed. A little bit silly - don't you think?! Craig!! :) I thought that 8 speed was over kill until I drove my LS460. Quite nice on the highway doing 70+ and press slightly on the gas and have it drop one gear. When you really want to go into warp drive the acceleration from 70 to over 100 is going to make you smile! :)
wwest Posted February 7, 2007 Posted February 7, 2007 Hi Guys!! :) I hope you're OK. Apparently - BMW is creating an 8-speed automatic to be used in some of its future cars. Click on THIS to read the story. It's only a matter of time - I suppose - for Mercedes to counter with a 9 or 10 speed. A little bit silly - don't you think?! Craig!! :) Gee.....
Gryphon Posted February 7, 2007 Posted February 7, 2007 Better not ever need to repair one of these out of warranty. It'll cost the equivalent of a summer home. Tom
SuperCoupe400 Posted February 7, 2007 Posted February 7, 2007 Better not ever need to repair one of these out of warranty. It'll cost the equivalent of a summer home. Tom Yeah, especially considering what BMW repairs cost in the first place.
Suburbazine Posted February 7, 2007 Posted February 7, 2007 I like my 5 speed just fine. Who needs 8? That's just raising the probability by 300% that you'll blow some gear in the transmission.
SW03ES Posted February 7, 2007 Posted February 7, 2007 Thats what they used to say back when automatic transmissions were 3 speed.
greggebhardt Posted February 7, 2007 Posted February 7, 2007 Better not ever need to repair one of these out of warranty. It'll cost the equivalent of a summer home. Tom I feel better trading WAY before the warranty is gone.
SW03ES Posted February 8, 2007 Posted February 8, 2007 Trading way before the warranty is gone makes zero sense financially. If you do it because you want to and you like driving a new car, more power to you. If you do it becuase you think you're getting off cheaper than keeping the car longer term and risking some possible repairs down the line then you really need to re-examine that behavior financially. Dollar for dollar, keeping the car for 10 years is MUCH cheaper than trading a new car after two, even when you factor in repairs. The Lexus LS is one of the most reliable vehicles in the world too, the odds of needing a new transmission on one...ever are remote. As someone who has had an LS for 160k miles and seen first hand the kind of repairs you're talking about with this car and those miles, they're extremely inexpensive. I think my dad's 98 needed a new A/C compressor one time, covered by Lexus out of warranty as a goodwill and that was the only failure ever on the car during the 6 years and 160k miles he owned it. He has an 04 now which I have far less to do with with something like 60k miles, not one failure. My ES has getting close to 90k and it had some warranty work done to the steering rack and the brakes, as well as a couple rattles fixed, (all which were TSBs from Lexus) but other than that not one failure. I've had direct experience with several other cars of various makes with mileage and trust me, these are really reliable cars. Purchasing new and selling every two years is the absolute most expensive way to own a car. You pay the absolute maximum by buying new, and then sell it after the worst two years for depreciation. I bet it costs you $25-30,000 in depreciation to own a car like an LS460 for only two years, even more if you trade it in rather than sell it. Now, like I said if you do that because you want to always drive something new go for it. If you do it because you think its cheaper, you need to re-examine that belief.
92Lex Posted February 8, 2007 Posted February 8, 2007 Depreciation sucks...but why all this over a bimmer? Every single car out there is going to lose a huge chunk of retail value, right? Buy what you're happy driving. I love BMW's, you guys love Lexus'. Leasing doesn't do much for your bank account, no recovery. It's sort of like investing in food....you serve it and you end up eating it anyways.
greggebhardt Posted February 8, 2007 Posted February 8, 2007 Trading way before the warranty is gone makes zero sense financially. If you do it because you want to and you like driving a new car, more power to you. If you do it becuase you think you're getting off cheaper than keeping the car longer term and risking some possible repairs down the line then you really need to re-examine that behavior financially. Dollar for dollar, keeping the car for 10 years is MUCH cheaper than trading a new car after two, even when you factor in repairs. The Lexus LS is one of the most reliable vehicles in the world too, the odds of needing a new transmission on one...ever are remote. As someone who has had an LS for 160k miles and seen first hand the kind of repairs you're talking about with this car and those miles, they're extremely inexpensive. I think my dad's 98 needed a new A/C compressor one time, covered by Lexus out of warranty as a goodwill and that was the only failure ever on the car during the 6 years and 160k miles he owned it. He has an 04 now which I have far less to do with with something like 60k miles, not one failure. My ES has getting close to 90k and it had some warranty work done to the steering rack and the brakes, as well as a couple rattles fixed, (all which were TSBs from Lexus) but other than that not one failure. I've had direct experience with several other cars of various makes with mileage and trust me, these are really reliable cars. Purchasing new and selling every two years is the absolute most expensive way to own a car. You pay the absolute maximum by buying new, and then sell it after the worst two years for depreciation. I bet it costs you $25-30,000 in depreciation to own a car like an LS460 for only two years, even more if you trade it in rather than sell it. Now, like I said if you do that because you want to always drive something new go for it. If you do it because you think its cheaper, you need to re-examine that belief. Uh, I said it makes me feel better. :) I own my own compnay and did not need "the lecture" on when to buy and sell. :( A few years ago when I was able to charge off 100% of my new LX470, I got near a $20,000 refund in taxes. There are "tax advantages" for me to do what I do, I admit sometimes they do not make perfect financial sense to others but "what makes me feel better" makes up for the loss. Everyone's money situation is different and the same rules can not apply to all.
RX in NC Posted February 8, 2007 Posted February 8, 2007 I manage my own assets, work for myself, and can buy any production car I want. Whether this makes me "feel better" or not, it's still a dumb financial management move and I won't do it. Twenty years ago, maybe. But today, no way. Regardless of your tax situation, the tax laws are nowhere near as favorable in this case as they were twenty years ago. When Warren Buffett himself says that purchasing expensive new vehicles every few years is dumb from a financial standpoint, it behooves most of us to listen to him....
Suburbazine Posted February 8, 2007 Posted February 8, 2007 Thats what they used to say back when automatic transmissions were 3 speed. I've been through 3 4-speed trannies (GM :chairshot: ), I think they shoulda stayed 3 speed or at least been much better built. 8 speeds are still asking for trouble IMHO.
greggebhardt Posted February 8, 2007 Posted February 8, 2007 I manage my own assets, work for myself, and can buy any production car I want. Whether this makes me "feel better" or not, it's still a dumb financial management move and I won't do it. Twenty years ago, maybe. But today, no way. Regardless of your tax situation, the tax laws are nowhere near as favorable in this case as they were twenty years ago. When Warren Buffett himself says that purchasing expensive new vehicles every few years is dumb from a financial standpoint, it behooves most of us to listen to him.... I can buy what ever I want, too. The LS460 is only for about 6 months until the new LX470 replacement arrives. The difference between us is I CHOOSE to buy it. :o I work hard and sacrifice alot of free time to make my company what it is today, so I choose to buy (often) what I use the most in everday life, which is my vehicle. Warren Buffet does not influence me and I really am not "behooved" to listen to him. I consider myself to be doing quite well without Warrens help. ;) You can not take your money with you when you die! Thats what they used to say back when automatic transmissions were 3 speed. I've been through 3 4-speed trannies (GM :chairshot: ), I think they shoulda stayed 3 speed or at least been much better built. 8 speeds are still asking for trouble IMHO. GM made a two speed, also! :cries: Less was not better :o
Suburbazine Posted February 8, 2007 Posted February 8, 2007 More and weaker is not better either LoL! I don't even run Overdrive unless I'm on the Highway. The only reason I would get an 8 speed is for the fuel mileage. Plus, I would have more gears to mess with.
greggebhardt Posted February 8, 2007 Posted February 8, 2007 More and weaker is not better either LoL! I don't even run Overdrive unless I'm on the Highway. The only reason I would get an 8 speed is for the fuel mileage. Plus, I would have more gears to mess with. When/if my eight speed breaks, I think that Lexus will stand behind it. I have serious doubts that it will break. I do see 21 MPG on the highway at around 60-70 but I did not buy it for economy. :o
Suburbazine Posted February 9, 2007 Posted February 9, 2007 If anything, it's something else that could go wrong in the car's software. No, Lexus isn't immune to software problems, I had an IS250 that would backfire a lot due to (very) faulty powertrain software running the valve timing wayyy too far one way (don't remember if it was too advanced or reduced). As far as standing behind the car, well, yes, the dealer did accept a swap for an RX330. :)
izzy300 Posted February 9, 2007 Posted February 9, 2007 Well the LS 460 is the first 8-spd automatic on the road, so clearly BMW recognizes greatness when they see it and wish to expand their driveability to compare to Lexus perfection. :whistles:
SW03ES Posted February 9, 2007 Posted February 9, 2007 Depreciation sucks...but why all this over a bimmer? Every single car out there is going to lose a huge chunk of retail value, right? Buy what you're happy driving. I love BMW's, you guys love Lexus'. Leasing doesn't do much for your bank account, no recovery. It's sort of like investing in food....you serve it and you end up eating it anyways. Who said anything about a BMW in reference to depreciation? As for leasing, leasing is an extremely powerful tool depending on an individual's situation. Uh, I said it makes me feel better. I own my own compnay and did not need "the lecture" on when to buy and sell. A few years ago when I was able to charge off 100% of my new LX470, I got near a $20,000 refund in taxes. There are "tax advantages" for me to do what I do, I admit sometimes they do not make perfect financial sense to others but "what makes me feel better" makes up for the loss.Everyone's money situation is different and the same rules can not apply to all. And I said about 5 times in my post that if you do it because you like driving a new car, more power to you. I wasn't discussing the pros and cons of what you do so much for your benefit, but for the benefit of others. There are a lot of people out there that actually think its cheaper to trade in new cars every 2 years. I can buy what ever I want, too. The LS460 is only for about 6 months until the new LX470 replacement arrives. The difference between us is I CHOOSE to buy it. I work hard and sacrifice alot of free time to make my company what it is today, so I choose to buy (often) what I use the most in everday life, which is my vehicle. Warren Buffet does not influence me and I really am not "behooved" to listen to him. I consider myself to be doing quite well without Warrens help. You can not take your money with you when you die! Greg, don't get so defensive. RX is simply sharing his point of view on the topic, as were you. You can't put a statement out onto a forum and then try and cry foul when people disagree with you. RX's point is valid though. There's no way you can spin what you do into a smart financial move because its not. What you're saying is that you don't care, which is fine, but it doesn't make what he's saying wrong. If having this discussion makes one person take a more serious look at their finances, then its totally worth it. Americans today have entirely too little wealth for how hard they work and how much money they make. One reason is making foolish financial decisions based on an inability to delay gratification. I work my !Removed! off too, we all do. The mantra however "I work hard and I sacrifice so I'm going to buy whatever I want" however makes MANY Americans have to work hard and sacrifice far longer than they would have had to otherwise. Now, before you get bent out of shape remember that you obviously have significant enough assets to be able to do what you do. Most people that buy and trade cars that way however do not. This message is for those people, not you. I personally am not as conservative as RX (I love cars, and I think buying a new one every 3-4 years is an expense that I get a lot of gratification out of), but he's got a point. If you work hard, sacrifice, AND are careful with your money there's no reason why everybody couldn't retire at 55. I hurt for people who make so many dumb financial moves because they "want it, want it now" that they wind up working far longer and enjoying life for a far shorter time than they should.
greggebhardt Posted February 10, 2007 Posted February 10, 2007 Depreciation sucks...but why all this over a bimmer? Every single car out there is going to lose a huge chunk of retail value, right? Buy what you're happy driving. I love BMW's, you guys love Lexus'. Leasing doesn't do much for your bank account, no recovery. It's sort of like investing in food....you serve it and you end up eating it anyways. Who said anything about a BMW in reference to depreciation? As for leasing, leasing is an extremely powerful tool depending on an individual's situation. Uh, I said it makes me feel better. I own my own compnay and did not need "the lecture" on when to buy and sell. A few years ago when I was able to charge off 100% of my new LX470, I got near a $20,000 refund in taxes. There are "tax advantages" for me to do what I do, I admit sometimes they do not make perfect financial sense to others but "what makes me feel better" makes up for the loss.Everyone's money situation is different and the same rules can not apply to all. And I said about 5 times in my post that if you do it because you like driving a new car, more power to you. I wasn't discussing the pros and cons of what you do so much for your benefit, but for the benefit of others. There are a lot of people out there that actually think its cheaper to trade in new cars every 2 years. I can buy what ever I want, too. The LS460 is only for about 6 months until the new LX470 replacement arrives. The difference between us is I CHOOSE to buy it. I work hard and sacrifice alot of free time to make my company what it is today, so I choose to buy (often) what I use the most in everday life, which is my vehicle. Warren Buffet does not influence me and I really am not "behooved" to listen to him. I consider myself to be doing quite well without Warrens help. You can not take your money with you when you die! Greg, don't get so defensive. RX is simply sharing his point of view on the topic, as were you. You can't put a statement out onto a forum and then try and cry foul when people disagree with you. RX's point is valid though. There's no way you can spin what you do into a smart financial move because its not. What you're saying is that you don't care, which is fine, but it doesn't make what he's saying wrong. If having this discussion makes one person take a more serious look at their finances, then its totally worth it. Americans today have entirely too little wealth for how hard they work and how much money they make. One reason is making foolish financial decisions based on an inability to delay gratification. I work my !Removed! off too, we all do. The mantra however "I work hard and I sacrifice so I'm going to buy whatever I want" however makes MANY Americans have to work hard and sacrifice far longer than they would have had to otherwise. Now, before you get bent out of shape remember that you obviously have significant enough assets to be able to do what you do. Most people that buy and trade cars that way however do not. This message is for those people, not you. I personally am not as conservative as RX (I love cars, and I think buying a new one every 3-4 years is an expense that I get a lot of gratification out of), but he's got a point. If you work hard, sacrifice, AND are careful with your money there's no reason why everybody couldn't retire at 55. I hurt for people who make so many dumb financial moves because they "want it, want it now" that they wind up working far longer and enjoying life for a far shorter time than they should. Each person's financial situation is different. I respect that but when I got: "When Warren Buffett himself says that purchasing expensive new vehicles every few years is dumb from a financial standpoint, it behooves most of us to listen to him...." it made me realise that this poster and I are quite far apart. The cost of the LS was not THAT big of a deal where I thought consulation with Warren Buffit was required. As I stated the LS is simply entertainment till the new LX arrives, I do not look at it as an investment or if it was a wise purchase. I simply saw it when I was having my LX serviced and I stuck my head in my salesmans office and told him I wanted one. He, as in the past, called me a couple of days later and I picked it up. I like the LS, but will be more excited, later this year when I pick up my new 2008 LX. It never occured to me that I should ask Warren anything! I do understand that my attitude can upset some and I apologise if I have done so. I will withdraw to avoid confrontation. :o
SW03ES Posted February 10, 2007 Posted February 10, 2007 Do you honestly believe that RX's intention was that you should have consulted with Warren Buffet before purchasing your LS?
RX in NC Posted February 10, 2007 Posted February 10, 2007 Since greggebhardt is from Florida (a very long way from Omaha, the home of Warren Buffett), the next time he gets an itch to purchase a vehicle I think that he should just drive to Key West and consult with JIMMY Buffett instead.... Does that work better for you? Since Jimmy will probably be hammered on margaritas, I'm sure he'll just tell you to go for it and buy yourself a seaplane while you're at it....
Suburbazine Posted February 10, 2007 Posted February 10, 2007 I think I just heard a bullet, er, Buffett ricochet. Seems like this thread is headed for the fire pits. It's wayyy off topic and starting to glow too.
greggebhardt Posted February 12, 2007 Posted February 12, 2007 Do you honestly believe that RX's intention was that you should have consulted with Warren Buffet before purchasing your LS? It most likley was only to irritate as was his next post and yours . I forget whom I am conversing with here and I should not expect a "Detailaholic" to be able to relate. Both you and RX both worked hard to pay for your vintage Lexus and I do not expect you to see things from my perspective :P I will move on to the LX470 threads and leave you, RX and Warren to your simple fun. :)
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