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First Time Buying a Car - 7/2/2010 12:02:31 AM
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reebz
Posts: 1893
Joined: 12/6/2008
From: Indiana
Status: online
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My poor hyundai has a failing clutch and slipping transmission. Mom and I have decided it's time to invest in a more than first-find vehicle (aunt sold it to us for a steal after my wagon blew its head gasket).
As you can tell, we've been ripped off a time or two buying and repairing vehicles. Do you have any tips how to avoid this again (we're bringing the boyfriend along for some manly backing)?
Would you mind evaluating the list I've come up with as this is the first car I will be purchases all by myself and will have titled in my name? Anything I should add to needs?
Any suggested vehicles you've had that will meet my needs? Looking to spend $3-$6k for a used car ideally.
Also - should I just pay cash or finance it? Using a car loan v. using a student loan?
Needs:
-automatic transmission
-good gas mileage close to what I'm getting (35mpg highway)
-4 door sedan, wagon or hatchback
-under 100k miles
Wants:
-not silver, white, or that awful tan/gold color
-would prefer electric blue, lime green, or banana yellow (yes, we realize this is an absurd desire, hence why it's on the wants list)
-not an 'old person car' (no buick regals, no crown victorias)
-ready to drive/minimal repairs needed
-cruise control
-rear view mirror compass
-input audio port/cd player
-clean interior
-under 70k miles
Thanks for the help guys!
_____________________________
formerly rebakahblam
<<<<<Look! I found a lego baby!
beyond surrendered
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RE: First Time Buying a Car - 7/2/2010 12:13:11 AM
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peace77
Posts: 518
Joined: 4/18/2005
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1) Get the CarFax report and read it over.
2) Have the car checked out by a reputable mechanic. You'll have to pay around $50 - $60 but it's better than buying a car that needs major repairs.
3) Don't focus on the color, you can always paint it later.
4) If you can pay cash, do that.
If not, use a student loan. You will not have to make payments while you are in school.
However, be careful how much you borrow on student loans. You don't want to be over your head with loans when you graduate.
_____________________________
I GoodSearch for Lance's Deaf Orphans.
Raise money for your favorite charity or school just by searching the Internet or shopping online with GoodSearch - www.goodsearch.com
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RE: First Time Buying a Car - 7/2/2010 12:17:08 AM
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reebz
Posts: 1893
Joined: 12/6/2008
From: Indiana
Status: online
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I've heard carfax does cost money. About how much?
I'm wondering if financing it would help my credit though as I'm trying to build it. It's pretty decent from student loans for my undergrad and I'm not in over my head with debt, but starting to get nervous as my mother keeps insisting I take out more if need be.
-reba.
_____________________________
formerly rebakahblam
<<<<<Look! I found a lego baby!
beyond surrendered
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RE: First Time Buying a Car - 7/2/2010 1:29:43 AM
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iluvatar
Posts: 3551
Joined: 4/12/2005
Status: online
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Have you thought about getting a new cheap car?
I just bought a new Hyundai Accent for $11,000. I put $1000 down and with a 6 yr loan, I pay $185/mo. It's got zero frills (the finance guy at the dealership where I bought it didn't even know they sold cars w/o radios), but it's got a 10/100 warranty and will outlast anything bought used. My last Accent made it to 8 years & 140,000 miles and I beat on it. Anything with 70K-100K miles on it could be looking at an expensive repair in the next year or two.
-Dan.
_____________________________
Well, I've been to one world fair, a picnic, and a rodeo, and that's the stupidest thing I ever heard come over a set of earphones.
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RE: First Time Buying a Car - 7/2/2010 1:48:00 AM
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reebz
Posts: 1893
Joined: 12/6/2008
From: Indiana
Status: online
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We're looking at kia right now. Apparently they have a special going for trade ins, loyalty buyers, and a doubled warranty (20/200k). Mom bought a kia a few years back and it's been okay for her...but I'm really opposed to the brand.
I'm worried about buying a new new car because I don't know where I'll be financially this time next year and don't want to get locked into a payment.
$11k is more money than I've seen in my life...though it's true older cars being part of what's put me in this position.
How were you able to decide to go for it?
-reba.
_____________________________
formerly rebakahblam
<<<<<Look! I found a lego baby!
beyond surrendered
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RE: First Time Buying a Car - 7/2/2010 9:28:43 AM
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FreeEagle
Posts: 81
Joined: 7/2/2008
From: Minnesota
Status: offline
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quote:
Needs:
-automatic transmission
-good gas mileage close to what I'm getting (35mpg highway)
-4 door sedan, wagon or hatchback
-under 100k miles
Wants:
-not silver, white, or that awful tan/gold color
-would prefer electric blue, lime green, or banana yellow (yes, we realize this is an absurd desire, hence why it's on the wants list)
-not an 'old person car' (no buick regals, no crown victorias)
-ready to drive/minimal repairs needed
-cruise control
-rear view mirror compass
-input audio port/cd player
-clean interior
-under 70k miles
By all means pay cash, you just said you don't know where you're going to be financially next year. It is better to pay cash for a used car, and save for repairs and or the NEW dream car in the future ( which you should also pay cash for). You are not going to get good gas millage with a wagon, or hatchback, these are 6 cylinders or more, and not 4 cylinders as your Accent was. This advice is not what you're expecting, but it's the truth.
1.) Just because you take a guy with you - does not mean you're going to get a good deal, not all guys know about cars. You too don't need to know a lot about cars, you just need to look like you do.
2.) Buy your car from an auction, it's where most dealers buy their cars from. An estate auction or bankruptcy auction would yield a better car, as it's was most likely the former owner drove and or maintained the car. An estate auction will have very few cars so the price will be higher. But look at it this way, the owner could not take a tow dolly with him behind the hearse, so he left you a nice car. VS an auction where there are many cars (also known as an auto auction open to the public). At these auctions there are many choices, so the price tends top be low, many of these cars were towed in by city impounds, former city and county cars, or were consigned by the owners. So if the car was so good, why are they getting rid of it?? Most likely there was something wrong with the car, or the millage is so high, it's starting to need many repairs. These auctions are ok if you know about cars, or know a good mechanic, if you don't have a good mechanic, ask your single girl friends who they use.
3.) Picking out the car:
a.) Because auctions give a list of cars being sold, you can Google search the cars, before you go to the auction. Find the average cost, and what recalls or problems were standard with the car. Edmonds.com is a good place to do research.
b.) Set in your mind the highest price you will pay for that car, not based on how much you have, or how badly you want the car, but based on the value. Unlike a dealership, where your car looses value when you drive it off the lot, when you buy a car from an auction, it should have equity, right from the start. You should pay not more then 50% of the average cost (from your research). If the bids go over that amount, STOP BIDDING, and go to another auction, or wait for another car to come up. You may have to attend 1/2 a dozen auctions before you find the right deal, but it will be worth it.
c.) Before the auction check out the actual car. (These things are good to learn no matter where you buy your car). The day of the auction is a good day to ware jeans, and plan on getting your hands dirty. And bring some tissues. The appearance and gadgets are important, but not as important as the mechanical condition. If the car needs new tires, so what, every car does sooner or later (about $100-150 per tire). But look at the tire ware, is it on the center, or does it tend to be on the edges. Center or even ware is OK, if ware is on the edges it could mean somethings are out of alignment, (this could set you back $1000 or more). Look under the car, Rust will be common in most states, but are there holes in the muffler? In the under plates? Is the frame bent? Do you see leaks or grease puddles? Also check the back side of all wheels. Okay now let's go under the hood. Are there any obvious leaks? Leaks can get on the belts, and into other parts, causing other problems. Check the oil and transmission dip sticks. Dirty is ok, because you can change them, relatively cheap. But also be aware of too clean, many times before a sell, oil will be changed to cover other problems. But take your fingers and feel the oil and transmission fluids, (now you know why tissues) if you feel grits, stay away from the vehicle. Also smell the fluids, you should smell a oil smell, not a smell of something burning. The transmission fluid should be more of a redish color, and with out a lot of black streaks. The oil may be almost clear (new old), to a black mud (very dirty), somewhere in between is best, dirty is ok but should have no grit. Now open the radiator cap, you may have to press down hard while turning. (for this the guy friend may be ok). Do not open if the car was just running or if the engine is hot. You should see green, or pink anti-freeze, feel it - Does it feel gritty? If so stay away, it should feel oily. You do not want to see rusted water (a sign of not using anti-freeze), and you do not want to see white/brown foam or oil (sign of a cracked block or other engine trouble). Ok, now for the last pre tests. If possible turn on or check what radio stations are programed into the radio. Heavy metal or hard rock stations, most likely the car was not maintained that well, and you will likely have a lot of problems. At most auctions, they will start, run and move the shifter just before the auction. Listen carefully, for a loud clunk when they shift, this could be a sign of drive shaft ready to go out (about $300 -$500), if you hear a tapping sound with the engine their could be major problems ahead. Make sure your car goes forward and back. Now if you decide to bid, DO NOT START THE BIDDING, and DO NOT GO OVER THE AMOUNT YOU DECIDED BEFORE THE BIDDING STARTED.
After the Auction: Depending on type of auction, you may need to pay a key fee, this is cheaper if done with the lock smith at the auction, then to do it else where. You will also want to transfer title and get insurance right away. Some estates sales will require a copy of the Death certificate, if the car is titled in the deceases name. Get an oil and filter change ($25) , tune up ($100 - $150) and have the transmission filer changed if the transmission was dirty ($150-$300). I have done this for many vehicles, and have bought the cars cheap, drove them for a couple of years, then resold them (at auction) for more then I paid for them. For more tips on buying from auctions, sign up for my newsletter at Mister Find IT. If you haven't a neighbor hood mechanic that you can trust, then take the car to the manufactures dealership. Most of the items on your WANT LIST can be added, for a fair price after you have the car, and don't need to be there when you buy.
< Message edited by FreeEagle -- 7/2/2010 9:35:08 AM >
_____________________________
I will instruct you and teach you in the way you should go;
I will counsel you and watch over you. Do not be like the horse and the mule, which have no understanding but must be controlled by bit and bridle or they will not come to you.
Psalms 32 8-
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RE: First Time Buying a Car - 7/2/2010 9:44:23 AM
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ppodmama
Posts: 750
Joined: 10/31/2008
From: Midwest
Status: offline
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pontiac vibes come in sporty colors
subaru outback, legacy and imprezas have great reliability and will last a long time, are in your price range and milage req.....check cars. com
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RE: First Time Buying a Car - 7/2/2010 9:49:39 AM
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APZR
Posts: 1016
Joined: 4/18/2005
From: GA
Status: online
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Do not turn the radio on when test driving, just listen to the car and make sure it's not making any strange sounds. If the owner insist on turning on the radio and chattering on like a teenager, then something is wrong with the car.
Ask to have your mechanic look it over, and ask if the owner or you can take it to the shop. If he refuses then something big is wrong with the car.
If the owner advertises any new major parts like "just rebuilt the transmission", ask about the warranty and if it's transferable... some will have pay their handyman neighbor with a case of beer for help with the "rebuild".
_____________________________
Ya can't keep trouble from visitin, but you don't have to offer it a chair.
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RE: First Time Buying a Car - 7/2/2010 10:10:08 AM
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iluvatar
Posts: 3551
Joined: 4/12/2005
Status: online
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quote:
ORIGINAL: rebakahblam
We're looking at kia right now. Apparently they have a special going for trade ins, loyalty buyers, and a doubled warranty (20/200k). Mom bought a kia a few years back and it's been okay for her...but I'm really opposed to the brand.
I'm worried about buying a new new car because I don't know where I'll be financially this time next year and don't want to get locked into a payment.
$11k is more money than I've seen in my life...though it's true older cars being part of what's put me in this position.
I understand not wanting to get locked into a payment. I paid for my last car outright and hadn't had a payment in 7 years.
Yeah, $11K sounds like a lot of money, but you were willing to go up to $6K, which even after you figure the interest, is still almost half the full price of the car. You could put $1000 down and still have $5000 left over, which is enough to cover the payments for 27 months. If you were able to save some extra money in that time, you could sock it away for future payments.
quote:
How were you able to decide to go for it?
I spent the last 2 years fixing problems on my car; I knew I didn't want to buy into somebody else's problems, which is exactly the risk you run buying a car at an auction. Sure, used car dealers buy their cars at auction, but that's also where new car dealers send their trade-ins. My last car and my wife's last car both went to auctions - my wife's might have been salvageable, but I got rid of mine because it'd cost more to fix the emissions problems than the car was worth. The "Check Engine" light on my car could've meant a $100 O2 sensor, or (as it did) a $1400 catalytic converter, plus whatever it would've taken to figure out why the evap system test wasn't running, or as it did in the past, an expensive rewiring job - you as the buyer at an auction would never know. EPA restrictions have gotten tighter in the last few years, and many of the problems that'll fail you on an inspection can't be detected by listening to the car or by looking at fluids.
The Accent also fits tall drivers pretty well.
-Dan.
_____________________________
Well, I've been to one world fair, a picnic, and a rodeo, and that's the stupidest thing I ever heard come over a set of earphones.
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RE: First Time Buying a Car - 7/2/2010 10:21:58 AM
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peace77
Posts: 518
Joined: 4/18/2005
Status: offline
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In your first post, you stated that you wanted to pay $3k-$6k and that other people had convinced you to buy your previous cars.
Don't let your Mother convince you to spend 2 or 3 times what you had planned to spend.
Also, keep in mind that the price of the car is not the total amount that you will pay. There will be taxes, fees and license to pay which will cost several hundred to $1,000 more in that price range.
_____________________________
I GoodSearch for Lance's Deaf Orphans.
Raise money for your favorite charity or school just by searching the Internet or shopping online with GoodSearch - www.goodsearch.com
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RE: First Time Buying a Car - 7/2/2010 10:49:56 AM
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reebz
Posts: 1893
Joined: 12/6/2008
From: Indiana
Status: online
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Thanks for all of the replies.
My last wagon got 28mpg so it's possible to find one near that and I'm okay with something between 25-30mpg.
I wasn't pressured into previous cars per se...it was oh no my car just died here is the cheapest and fastest option. I kind of fear that may happen again but am trying to keep levelheaded and not rush or ruin this exciting though less than ideal situation.
Also an auction is not an option. I need to buy a like car tomorrow....my car is really having problems and I don't know if it will last 500 miles...I drive between the two largest cities in my state 1.5hrs each way at least 4-5 days a week. My boyfriend is pretty good with cars. My cousin is a mechanic and said he will help if we need it so we're good there. I'm just so nervous! My nest egg is 10k and I'm really opposed to using it all up.
Certfied preowns seem to be a viable option but we will see. Wish me luck!
-Reba.
_____________________________
formerly rebakahblam
<<<<<Look! I found a lego baby!
beyond surrendered
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RE: First Time Buying a Car - 7/2/2010 11:16:30 AM
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jaimestarcross
Posts: 1231
Joined: 11/28/2005
Status: online
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How about getting a lease return or a demo?
That way you can get a near new car for way less money that has
been maintained (check the maintenance records booklet or receipts.)
I drove cheap used cars for a long time and after doing all those repairs on
those cheap used cars... I sat down one day and saw that I could of bought
a new car or a near new car for the amount I'd spent buying all those used
cheap cars!
I bought a Kia Spectra when they first came to NC back around 2002. It was nearly new
and the warranty was sweet -- they covered all the oil changes and it had 10/100,000
plus the $5,000.00 cash back helped me make the decision to buy a near new car(demo)...
my payments were about a hundred dollars... I used the cash back and put down several
thousand dollars to get a low payment... I was able to pay off the car in six months
thanks to cash windfall!
_____________________________
shoutlife.com/UBfine
"A world of nice people, content in their own niceness, looking no further, turned away from God, would be just as desperately in need of salvation as a miserable world---and might be even more difficult to save."
C.S. Lewis
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RE: First Time Buying a Car - 7/2/2010 12:41:05 PM
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reebz
Posts: 1893
Joined: 12/6/2008
From: Indiana
Status: online
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I'm trying to avoid red as it ups insurance rate and avoiding white because it shows dirt so much more.
Also my state doesn't have car inspections beyond issuing a title FYI.
-reba
_____________________________
formerly rebakahblam
<<<<<Look! I found a lego baby!
beyond surrendered
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RE: First Time Buying a Car - 7/2/2010 4:31:10 PM
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iluvatar
Posts: 3551
Joined: 4/12/2005
Status: online
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quote:
ORIGINAL: rebakahblam
I'm trying to avoid red as it ups insurance rate
I'm pretty sure that's a myth. I can get an insurance quote online right now w/o any questions about the color.
quote:
Also my state doesn't have car inspections beyond issuing a title FYI.
wow, I've never heard of that before. Looking at the BMV web site, it looks like 2 counties require emissions testing every other year as part of your registration.
-Dan.
_____________________________
Well, I've been to one world fair, a picnic, and a rodeo, and that's the stupidest thing I ever heard come over a set of earphones.
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RE: First Time Buying a Car - 7/2/2010 9:31:32 PM
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reebz
Posts: 1893
Joined: 12/6/2008
From: Indiana
Status: online
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My county doesn't require it.
I had a horrible experience at a car dealership today. A few days ago I went on blackbook to try to figure out how much I might be able to get with my car as a trade in. Somehow that sent my e-mail out to hyundai dealerships and this one dealership called wednesday, called thursday, e-mailed this morning, and called today wanting me to come in. The salesman even said if I came in and bought a car he'd take me to red lobster (unprofessional much? yup.) I was not interested in coming in but thought if I went in they'd stop calling me...big mistake.
It ended up being a two hour ordeal where they took my keys from me, I test drove a caliber which I LOVED but couldn't afford but they wouldn't listen. I had told them as soon as I walked in that I was not going to drive away in a new car...but once I showed interest in this car they would not relent....then they had me sign a paper so I could at least know what they'd offer me for trade-in and what the car was (I checked fine print to make sure it wasn't legally binding) and kept telling them I wasn't going to take a car home because it was a big purchase that I wanted a few days to think about.
Anyway, I FINALLY get my keys back and am about to leave when they start telling me my car is not safe to drive. They started yammering on about how it would fall apart or die right in front of a semi and really freaked me out. They kept trying to pressure me to take the caliber home (a full hour and a half away which would mean I'd have to come back either yes or no on the caliber) to show my boyfriend (who they would not stop referring to as my fiance and mentioning how the caliber was great should we wish to start a family soon - talk about way unprofessional).
I was almost on the brink of tears but finally convinced them to let me leave without the caliber or having them install a new pressure plate on my car. They think I'm going to buy this caliber as I said I'd consider it, but there is no way I'll buy it - it's way out of my price range and I didn't like the way they treated me.
This may end up working out in my favor though, as they were trying to freak me out about my car to try to get me to buy the caliber they mentioned that my clutch bearing needs replaced and the pressure plate is bent. So they inadvertently told me what was wrong with my clutch.
I called BF very upset and then called Mom.
Our gameplan is to take the car to our trusted mechanic and see if the dealership was telling the truth and see what it'd cost. From my research it looks like this can be solved without re-replacing the clutch. My mom and I agree if it's only a few hundred dollars to fix, we'll go ahead and fix it but still go car hunting and save the car (little brother is needing a car now). If not, we'll try listing it on craigslist as-is or if it's really really bad - part it out or take it to a junk shop because I'm sure we'd get more than the $400 this place offered as trade-in. Blackbook said between 700-1100, I understand I'm probably on the lower end given the issues with it.
Anyway - I cleaned the car out and vacuumed it really well. Cleaned the headlights and interior windows and added a new air freshener. It's looking pretty nice compared to where it was when I took it to the dealership (since I wasn't planning on going there today but felt roped into it).
So my day tomorrow will be long - I'll be taking it by the mechanic at 7am when they open and then heading to Indy with BF to look at cars with mom.
I'm trying not to get discouraged but it's hard when I can't seem to find something I like and feel so pressured that I need to buy ASAP! I do not want to get pressured by salesmen or panic into a car I do not like or is not good for me. But if the repair is only a few hundred, that buys me some time and takes some of the pressure off.
I guess we'll find out tomorrow eh?
-reba.
_____________________________
formerly rebakahblam
<<<<<Look! I found a lego baby!
beyond surrendered
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RE: First Time Buying a Car - 7/2/2010 10:12:23 PM
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reebz
Posts: 1893
Joined: 12/6/2008
From: Indiana
Status: online
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It's definitely made me feel better reflecting on it now though - I really did stick to my guns about not test driving the car home, letting them touch my car, or being bullied into a car that while I loved it, I couldn't afford.
It's helped me to get my list really down pat and know my budget and really research what my car is worth as a trade in.
Having survived that experience has made me feel more equipped and shown me some of the areas I was lacking as far as research.
I'm doing some more research about negotiating and think having my mom and MMP there will help.
A popular phrase I keep coming across to use is, "I am prepared to buy today but want your best price". Which is quite true of my situation.
Thank you for the prayers though - this is very scary stuff!
-reba.
_____________________________
formerly rebakahblam
<<<<<Look! I found a lego baby!
beyond surrendered
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RE: First Time Buying a Car - 7/2/2010 10:18:37 PM
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blueeyedgirl2
Posts: 3782
Joined: 8/31/2008
Status: offline
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Reba. . . Dave Ramsey has some good negotiation techniques. The one that comes to mind is saying, "That's just not good enough." Then they say a slightly lower price and you respond again, "that's not good enough." Negotiating scares me, but looking back I should have taken someone with me when I bought my car to help in that area.
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RE: First Time Buying a Car - 7/3/2010 10:08:42 AM
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daughter_of_faith
Posts: 1241
Joined: 1/10/2008
From: Great Plains, Kansas
Status: offline
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You'll do great, Reba. Coincidentally, we are vehicle shopping today as well. We have a set price for a good quality used vehicle that will hold our growing family. I'll be praying for you today.
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RE: First Time Buying a Car - 7/3/2010 10:27:15 AM
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iluvatar
Posts: 3551
Joined: 4/12/2005
Status: online
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quote:
ORIGINAL: rebakahblam
My county doesn't require it.
I had a horrible experience at a car dealership today. A few days ago I went on blackbook to try to figure out how much I might be able to get with my car as a trade in. Somehow that sent my e-mail out to hyundai dealerships and this one dealership called wednesday, called thursday, e-mailed this morning, and called today wanting me to come in. The salesman even said if I came in and bought a car he'd take me to red lobster (unprofessional much? yup.) I was not interested in coming in but thought if I went in they'd stop calling me...big mistake.
It ended up being a two hour ordeal where they took my keys from me, I test drove a caliber which I LOVED but couldn't afford but they wouldn't listen. I had told them as soon as I walked in that I was not going to drive away in a new car...but once I showed interest in this car they would not relent....then they had me sign a paper so I could at least know what they'd offer me for trade-in and what the car was (I checked fine print to make sure it wasn't legally binding) and kept telling them I wasn't going to take a car home because it was a big purchase that I wanted a few days to think about.
Anyway, I FINALLY get my keys back and am about to leave when they start telling me my car is not safe to drive. They started yammering on about how it would fall apart or die right in front of a semi and really freaked me out. They kept trying to pressure me to take the caliber home (a full hour and a half away which would mean I'd have to come back either yes or no on the caliber) to show my boyfriend (who they would not stop referring to as my fiance and mentioning how the caliber was great should we wish to start a family soon - talk about way unprofessional).
I was almost on the brink of tears but finally convinced them to let me leave without the caliber or having them install a new pressure plate on my car. They think I'm going to buy this caliber as I said I'd consider it, but there is no way I'll buy it - it's way out of my price range and I didn't like the way they treated me.
This may end up working out in my favor though, as they were trying to freak me out about my car to try to get me to buy the caliber they mentioned that my clutch bearing needs replaced and the pressure plate is bent. So they inadvertently told me what was wrong with my clutch.
I called BF very upset and then called Mom.
Our gameplan is to take the car to our trusted mechanic and see if the dealership was telling the truth and see what it'd cost. From my research it looks like this can be solved without re-replacing the clutch. My mom and I agree if it's only a few hundred dollars to fix, we'll go ahead and fix it but still go car hunting and save the car (little brother is needing a car now). If not, we'll try listing it on craigslist as-is or if it's really really bad - part it out or take it to a junk shop because I'm sure we'd get more than the $400 this place offered as trade-in. Blackbook said between 700-1100, I understand I'm probably on the lower end given the issues with it.
Anyway - I cleaned the car out and vacuumed it really well. Cleaned the headlights and interior windows and added a new air freshener. It's looking pretty nice compared to where it was when I took it to the dealership (since I wasn't planning on going there today but felt roped into it).
So my day tomorrow will be long - I'll be taking it by the mechanic at 7am when they open and then heading to Indy with BF to look at cars with mom.
I'm trying not to get discouraged but it's hard when I can't seem to find something I like and feel so pressured that I need to buy ASAP! I do not want to get pressured by salesmen or panic into a car I do not like or is not good for me. But if the repair is only a few hundred, that buys me some time and takes some of the pressure off.
I guess we'll find out tomorrow eh?
-reba.
Wow, that's terrible. Personally, I would have made a loud, angry, mildly vulgar scene in the middle of the showroom until they gave me my keys back.
I wouldn't go back to that dealer no matter what. If you want the Caliber, get it from another dealer and mail a picture of yourself with the car to the first dealer, explaining to them why you didn't buy there and why you'll never be back. Give the salesman's name, too.
$400 sounds pretty low for a trade-in. I realize that it's all part of the negotiations and that the difference could be made up elsewhere, but every place I've been to gives a minimum of $1000 just as a matter of policy.
-Dan.
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Well, I've been to one world fair, a picnic, and a rodeo, and that's the stupidest thing I ever heard come over a set of earphones.
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RE: First Time Buying a Car - 7/3/2010 10:48:47 AM
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iluvatar
Posts: 3551
Joined: 4/12/2005
Status: online
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quote:
ORIGINAL: blueeyedgirl2
HERE are a couple answers Dave gives about buying a used car. Of course, neither of them mention the technique I mentioned before. . . but oh well. . . 
ETA: THIS is probably a better link. There are a few pages of past questions and answers related to used cars. Maybe something in there will be helpful for you.
Neither of those links work, but I've been reading through some of his comments on buying cars, and he's not necessarily correct on a lot of things - at the very least, he over-generalizes:
quote:
QUESTION: Christy on Facebook wants to know how much you should put into used car maintenance before you should get a new car. Dave says you can almost never mathematically justify a new car.
ANSWER: You can almost never mathematically justify a new car—another car. If you’re driving a $1,000 car, it’s breaking down, and you keep having to spend $250 on it, do you know how long you can spend $250 a month on that car before you can justify a $10,000 car? It would be years. Decades. You can’t even come close. You really never get to the point that mathematically, it’s justified.
That's just not true. If you're paying $250/month, you can pay off a $10,000 car in 40 months - maybe 48months if you add interest, not "decades" as he says.
Let's assume that any car has an average lifespan of 8-10 years, given regular maintenance. A $10,000 used car is probably going to have at least 50,000 miles on it, which is 3-4 years of use that you won't get out of it - that gives the car an effective lifespan (to you) of about 4-6 years. If you're paying $250/mo, that means you'll have 0-24 months where you won't be making payments.
A $10,000 new car is going to be tiny, but you'll be able to take advantage of its full 8-10 year lifespan. That means that after you pay off the loan in 4 years, you could have another 4-6 years of being payment free.
-Dan.
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Well, I've been to one world fair, a picnic, and a rodeo, and that's the stupidest thing I ever heard come over a set of earphones.
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