My auto industry bailout...

The wife and I are expecting our first child in May. Currently, I drive a 98 Ford Ranger with extended cab and a 5 speed. She drives a 08 Saturn Vue. Obviously, the Ranger isn't the most child friendly vehicle and driving it rattles my wife's nerves (the 5 speed). We plan to have another child in the next few years, so a more child friendly ride is a necessity. This raises the question of how I should allocate my auto industry bailout. Our budget is going to be in the $20k range. Some additional background, I downgraded from a 2000 convertible Corvette back in 2005 when I began reworking the finances to buy my first house. Obviously, I miss the performance, but not the lack of practicality. My initial thoughts, in no particular order are as follows:

2008 MazdaSpeed3: Local dealer has 3 in stock, one of which has been there at least since this past summer. If the market is as bad as everyone says, I think I could have it for $20k, probably with a sweet interest rate. If all the stimulus goes through, possibly some additional tax breaks/credits. Cons include limited interior space for a growing family and new car depreciation.

2005 Cadillac CTS-V: Another local dealer has one in stock with ~35k miles, which I also think I could get for $20k. Performance would be much better than the Speed3, with only a marginal MPG penalty. Cons include little to no warranty, steeper financing rate, more miles and the Cadillac nameplate.

2002 Maserati Cambiocorsa: None available locally, but I have seen several on Ebay (within 100 miles) nearing this price range with ~35k miles. Pros include a 4.2L Ferrari V8, paddle shifters, luxurious interior and wife could drive it in a pinch. Cons include 4.2L Ferrari V8, higher insurance premiums, ridiculous maintenance costs, the aforemention lack of warranty and probably nonexistent financing.

I'm leaning toward the CTS-V, but have a while longer before we'll actually be looking to make the purchase. I'm open to other options, but the requirements are reasonable room for the wife and up to 2 kids (i.e. for the first time Miata is not the answer). I'll also likely keep the Ranger since I couldn't get much out of it and will still need to do small truck things from time to time. Thoughts?

I thought long and hard about the Maserati before I picked out my CPO 750Li, but the lack of any dealers within a couple hundred miles was a killer for me on a car that would have to have a specialist work on anything, especially the electronic control systems. It's dead sexy. The fact that the dealer I purchased my BMW from is also a Maser dealer and had a line of them sitting out front when I went to pick up my 7 only made it worse

Lack of warranty on either of your used options can be solved easily with an aftermarket company for ~$1500, and the CTS-V may be better served having it as a Certified Used car, though I have no idea how good GM's certified program warranty is.

I wouldn't think financing would be a problem anything. If you have decent credit join Pentagon Federal Credit Union (either have some military family history of join the military family support organization that qualifies you for something like $20), their current auto loan rate is 3.99% new or used 60 months, you qualify for the loan amount you ask for, they send you a check for that amount, you fill in the dealer's name and drive away.

Among those 3 cars I'd go CTS-V all the way. Combination of size, luxury, handling and of course power is very hard to beat at that price point.

The rear on that CTS-V is a bit of a problem, but apparently the 2008 redesign is good now. Get a warranty, then blow the rear end out of it to get the new unit :)

I have an 05 CTS-V. I love it but if you go that route know that exploding diff cases, bad diff bushings and leaking radiators are known problems.

If you like the CTS-V, you owe it to yourself to check out a V8 E39 BMW. The 540i 6 speed doesn't suck, and the M5 is a beast.

I had to look up the Maserati Cambriocorsa and Oh My Goodness...

I'd have a hard time even driving a CTS-V everyday knowing I could have afforded that...

P71 wrote: I had to look up the Maserati Cambriocorsa and Oh My Goodness... I'd have a hard time even driving a CTS-V everyday knowing I could have afforded that...

This probably goes without saying, but I'm sure this is one of those cases where "I can afford to buy this car" has absolutely nothing to do with "I can afford to own this car". Of course, given that list of choices I might make the same one anyway.

I was shopping for the MS3 and had @ the same $20K to spend. No matter how long it was on the lot, no one would make any sort of deal on the MS3 or on financing for it. Even with excellent credit and a percentage down, I could only get sticker. This was mid-December 08, which also added month end and year end incentive to the dealer. Things may have gotten even worse by now however.

I like Dave's suggestion of the BMW, M5 or otherwise. That would offer a nice compromise between the Italian exotic and the (by comparison) mundane CTS-V.

http://forums.nasioc.com/forums/showthread.php?t=1695469

I'll drive it to you!

i'll third the M5, amazing cars, and they're going for between 18-23k right now, depending on year and mileage.

Don't sell the truck. I miss mine almost daily.

Buy a cheaper commuter car to haul the kiddo's and put basic insurance on the truck.

The only one of those I would even think about is the mazdaspeed 3, the others would be too expensive to maintain.

MIght be able to find a 2005 Audi S4; I think that was the last year for that body style. (Or find a 2000 or 2001 A6 with a 2.7L twin turbo 6sp manual and slap the RS6 parts on it and keep the last couple grand for fixing it. Then you'll be in the 550hp range, or so they say)

Josh wrote:

P71 wrote: I had to look up the Maserati Cambriocorsa and Oh My Goodness... I'd have a hard time even driving a CTS-V everyday knowing I could have afforded that...

This probably goes without saying, but I'm sure this is one of those cases where "I can afford to buy this car" has absolutely nothing to do with "I can afford to own this car". Of course, given that list of choices I might make the same one anyway.

This is what concerns me most about the Maserati. Undoubtedly the sexiest of the cars on the short list I mentioned, but could be a money pit in no time. The recommendations on an aftermarket warranty would be perfect for something like this, assuming there is a service center within a reasonable distance of Greenville, SC.

I wouldn't think the CTS-V would be too much to maintain, depending on where it is taken, how much I do on my own, etc. The BMW and the Maserati would likely require fairly expensive annual maintenance, but I have no direct experience so hopefully some owners can chime in. I definitely plan to keep the truck. Suggestions beyond the list are also welcomed.

What's wrong with her existing Vue as a/the Family car?

It is nice, but she really dislikes driving my truck due to the manual transmission (i.e. it rattles her nerves). The truck doesn't work so well for car seats, etc. whenever I need to pick up kid(s). We also don't want to put a disproportionate amount of miles on her car, which is what we'd do if we only had it and my truck. We've been talking about getting a newer car for me for a while, the addition of a child just tightens the restrictions on what makes sense for me to get (i.e. no 2 seaters unfortunately).

Gotcha.

So, what you want is a cool daddy-mobile, with a 70/30 split on personal vs. daddy duties?

I love my Children more than anything...but there is no way in hell either of them under the age of 26 would be allowed food in the back seat of a proposed Maser...or CTS-V.

Cobb tuned Forester XT?

Saturn Vue Redline?

E36 M3 sedan?

Others have mentioned an RX8 as well.

*EDIT.....SRT8 Wagon? I'm not a Dodge guy, but those rock.

Good luck, and congratulations on becoming a Dad.

I think the CTS-V is an excellent idea.. get a warranty as mentioned.

The Maserati would be an ownership nightmare, in my opinion. Maserati and daily driver just don't work for those of us who care about money enough to read this forum.

A BMW 540i sport would be fun and cheaper to buy and maintain than the M5. A Forester XT would be a sleeper but still a ton of fun.

go for the hatch...MS3 all the way. if it were my money, that's the one I would buy.

JFX001 wrote: Gotcha. So, what you want is a cool daddy-mobile, with a 70/30 split on personal vs. daddy duties? I love my Children more than anything...but there is no way in hell either of them under the age of 26 would be allowed food in the back seat of a proposed Maser...or CTS-V. Cobb tuned Forester XT? Saturn Vue Redline? E36 M3 sedan? Others have mentioned an RX8 as well. *EDIT.....SRT8 Wagon? I'm not a Dodge guy, but those rock. Good luck, and congratulations on becoming a Dad.

I haven't thought about it in those particular terms, but yes, a cool daddy-mobile is what I'm after. We'll eat in my truck sometimes, but only because it is 10 years old with 163k miles. Other than that, we're not much on eating in cars. I especially don't like the idea of a toddler with food in the backseat of anything except a taxi. The wife's Vue is ok, but I wouldn't want to drive one everyday. I like the M3/M5 as far as looks and performance go, but there is a BMW plant nearby so virtually every trailer park is full of them. I'm not crazy about the RX8 or the 14-18 MPG that goes along with it. I'm not a Dodge guy either, but I would consider a Challenger if they didn't weigh 4000 lbs and cost nearly $10/lb.

Most people seem to be confirming my concern that the Maserati would be an "ownership nightmare".

As for maintenance on the CTS-V, I haven't owned it long enough to get into any really hairy jobs but I've never seen a car that made brake pad and oil changes any easier. If you can't handle either one without the dealer it's not because the car is a Cadillac. On the other hand, thoughts of insurance and dealer maintenance on the Maserati terrify me, sexy though the car is.

What about a WRX wagon? Fast and loads of room inside.

Thanks for the information Will. I like the styling and AWD of the Audi S4 that was mentioned previously, but in comparison to the LS6 of the CTS-V, I can see much more potential maintenance costs there as well. As sweet as the Maserati is, dreaming of owning one is enticing, but once you really start to consider all the associated costs, it begins to loss its luster. I was already predisposed to the CTS-V and I'm hearing anything or seeing any other recommendations that sway that opinion.

I would second the Cadillac. You will be able to find a lower mileage one in better condition for the same price as an older higher mileage M5. Having driven both I would say its a toss up performance wise with the edge probably going to the CTS-V. Parts and maintenance should be cheaper for the CTS-V though. It is hard to complicate an LSX.

I love the way the Maserati looks, but the maintenace would need to be priority one if you want to keep it mobile. Remember, it's essentially a Ferrari and needs Ferrari maintenance and appropriate expendatures.

My other recomendation is to drive the other cars on your list and see if they speak to you. I would also add the Pontiac G8, but you might have trouble finding one for your price, but I've seen new ones advertised for very low amounts due to not being able to move them in this economy.

Also, be sure and drive a BMW. They do drive better than the GM cars, and for that money, you can choose between a 5 or 3 series. They have more maintenance, but shouldn't be much different than a GM car in terms of failures. Automatics can be a weak link though.

Another car you may want to go drive is a Chrysler SRT8, the big 300 series version. It will absolutely blow the CTS-V into the weeds. I spent some time on track with a few of them and it's an amazing car for something so big. Truly great brakes and handling, but it's mostly Mercedes anyway. The best part is that the prices have dropped tremendously. They are a huge bargin at the moment and mostly go unnoticed by the majority of people.

Still, I wouldn't hesitate to get a BMW over everything mentioned. They are the best all around car in pretty much every deparment, and will hold their value better too. Something to consider. But like I tell everyone, you need to drive them. Once you do, your choice may become a lot easier.