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The Latest New (Used) Car Thread
mightyspacepope
Registered User regular
Registered User regular
So with my old car finally reaching the point where it'd cost more to fix it than the damn thing is worth, I've begun looking for a new car. My 98 Neon has actually served me pretty faithfully since 2001, but she's finally starting to fall apart.
I've considered buying a new car, especially with Toyota currently offering 0% financing for 60 months, but I don't think it's a responsible choice at the moment, since my income fluctuates during my search for a full-time job. I'm currently working as a substitute teacher and will be starting a term as a maternity leave replacement teacher from April 7th to about June 21st, getting paid roughly $250 a day before taxes. In addition to that, I have a part-time job at night that pulls in about $150 per week.
I'm looking into 2005ish sedans or hatchbacks. I'm leaning toward something from Honda, Hyundai, or Toyota, since I've heard they're fairly reliable. I'm leaning the most toward a Hyundai, since they seem to be cheaper than the other makes.
Can anyone tell me if anything seems fishy about this car?
Also, does anyone have any recommendations for cars to look for in my price range (roughly $11k or under). If it's any further help, I'll be able to put about $3k down.
I've considered buying a new car, especially with Toyota currently offering 0% financing for 60 months, but I don't think it's a responsible choice at the moment, since my income fluctuates during my search for a full-time job. I'm currently working as a substitute teacher and will be starting a term as a maternity leave replacement teacher from April 7th to about June 21st, getting paid roughly $250 a day before taxes. In addition to that, I have a part-time job at night that pulls in about $150 per week.
I'm looking into 2005ish sedans or hatchbacks. I'm leaning toward something from Honda, Hyundai, or Toyota, since I've heard they're fairly reliable. I'm leaning the most toward a Hyundai, since they seem to be cheaper than the other makes.
Can anyone tell me if anything seems fishy about this car?
Also, does anyone have any recommendations for cars to look for in my price range (roughly $11k or under). If it's any further help, I'll be able to put about $3k down.
mightyspacepope on
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Also they're designed for driving on the autobahn and mountain roads, and perform like it.
Not quite what you were looking for I know, but something to ponder.
From what I remember, they perform like an asthmatic elephant with no hind legs
The car would be a trouble child, even if the engine goes and goes
If that's true, could be a good deal. At least you'd be covered for a while if anything went wrong.
That warranty only applies to the original owner it does not transfer to the next owner(s). Subsequent owners get 5 year/60,000 miles on the powertrain and 3 year/36,000 on everything else except wear items.
That Elantra is one year prior to the new model, which is a much better all around vehicle. I would suggest looking for a 2007 if you wanted to go with that particular model from Hyundai. You'll pay a bit more, but get a more reliable, better looking vehicle.
Honda's keep their value really well. Which is a mixed blessing, since it's sometimes almost the same price for a new model as a year or two old one. Toyotas are almost as good at keeping their value, but not quite.
Personally, I got a 2007 Nissan Sentra a year and a half ago with 16,000 miles on it for around $11,000. It's a rather nice car, I liked it better than the Elantras, Fits, and other vehicles I was looking at. However, the one car that blew me away and that I kind of wish I had gotten was the Saturn Astra. Saturns aren't made anymore, and that vehicle was actually an imported and rebadged Opel so the parts may be hard to find in a few years, but it was a great car.
Thanks. There seems to be a few 2007 Elantras in my price range.
That sounds... unusual. The vacuum system is probably fucked.
I'm considering the Pontiac Vibe, since I'd originally wanted a hatchback anyway. Here's one I've found near me that looks pretty decent.
I'm also considering the Mazda3. I've found this one and this one.
Does anyone have any experience or input with either?
It doesn't matter how much you pay for a car if you hate driving it!
My only relevant experience is to repeat this, I bought a Mazda3 in '07 and it really is both a nice car for that price, and also waaay more fun to drive than the Corolla/Civic level cars I was looking at at the time; had a couple minor warranty fixes over the past 3 years, but I haven't regretted my decision at all
and if you hit something (or someone hits you), replacement bits are plentiful and inexpensive
more recently, the nissan altima, sentra also fall into that category
Again, don't look at the price of the car overall, but what you can afford per month. You'd be surprised.
Edit -
Also, carfax. It's worth it. You'll know what you need to know about the car.
Quoted for horrible advice. How does it feel to know you're overpaying for your car?
Walking into a dealer and stating a monthly payment virtually ensures you'll get ripped off... You think they'll work with you on price if they know you'll pay $X/month? They'll just make sure the payments fit while adjusting the APR and loan length.
I mispoke. I meant to clarify that figuring out your monthly budget is more important than the cost of the car itself. I'm not saying pay for a 40k car if you can afford 300/mo for 25 years. I'm saying that in the situation your in, if you find a car you like, make sure to prioritize the montly payment over the cost of the car.
Ex: A car at 18.9k may seem daunting, but you can get it for 300/mo easily and get the price point lowered to 17k as well. APR is NEVER astoundingly bad and they don't just switch APR willy nilly left and right by 5%. Loan length is pointless because they generally (GENERALLY) work with you so that you pay a lower monthly payment over the course of a longer period but end up paying the same amount with interest. The only guaranteed way of avoiding this is saying "Look, the car is listed at 18.9k, I'll give you 15k in cash today". (Exaggeration)
edit - and you overpay for your car anyways.
Dude, what? Do you know how interest works?
Don't listen to this person. Know your budget in total cost and stick to it.
Loan length is definitely NOT pointless. Shorter loans are (generally) better for the consumer, while longer are (generally) better for the seller.
Think about how much you'd pay, if you took a $10,000 loan over 2 years at 5% interest.
Now think about it if you took 10 years to pay it off. See how much more it really cost?
Also how can you say APR is never bad? I've seen some folks get nailed for like 12%. TWELVE PERCENT! That's fucking obscene. I was able to take out a short, small dollar figure loan (re: worst for the bank) at only 5.9%. If it had been a new vehicle loan for a larger amount (Say, $20,000) it would have been around 4.3%.
Figure out how much you want to pay for your car, THEN figure out your monthly payments. The two should be totally seperate conversations at the dealership (if you're using dealer financing, which I advise against).
Also, get the amount of your trade in IN WRITING before you do anything if you're trading in.
5% at 10 years vs 2 years is not that different
http://www.asksasha.com/loan-interest-calculator.html
if you don't believe me.
I didn't realize the OP wasn't familiar with APR but comparing dealer vs dealer you'll find out what works. Again, I don't know where the hell you find these folks that get nailed for 12 percent. I've NEVER seen APR higher than % (I'd say 6% but that's just me).
Again, nowadays, dealers don't even waste time trying to scam people with APR ripoffs considering how bad hte market is. If you see something above 6%, you're either walking into the dumbest, shadiest dealer in all mankind or you're literally looking for ways to get ripped off. Most dealerships will not do that. So, if you want to say that dealerships can, in rare instances, try that, then yes. But let's be realistic and realize a dealership would fucking die if they tried that sale scheme.
I already said that figuring out your available monthly payments and what the car value is. But in the end, if you can get a monthly payment of 250 with 4% over 5 years, it's the same as whatever 350 with 4% over 3 years. You're paying the same amount in the end.
I agree with you about your trade-in.
So don't do the monthly cost thing, your budget is $11 000, stick to it.
if you go in with a monthly aim, they will sell you the most expensive car that will take the longest to pay off possible. They want the money.
Go for a Mazda 3, they are excellent cars, avoid buying from a dealer if possible, buy from an old person or an older military type if you can.
And I'd say the exact opposite of the above statement. Negotiate the sale price as low as you can, then you can move to financing options if you haven't secured financing yet. If monthly payment estimations figured in anywhere it'd be at financing, at which point the sale price should be already set. This is how you minimize overpaying for the car, you could still end up overpaying on the financing.
Your statement sounds like a financing guys wet dream. There's no car on the lot that can't be had for $300/month. I'm sure there's some conscientious motive behind it, but I cannot puzzle it out.
If you pay off $10K @5% over 10 years you will pay $2200 more in interest then if you paid it off in 2 years.
My point exactly. That calculator LeCaustic linked to was useless. It said the "total amount paid" after 10 years was 10000. That isn't how it works man.
At 2 years, the payment for a 10000 loan is $438. $438 * 24 months is $10512
At 10 years, the payment is $106. $106 * 120 months is $12720.
So you not see the difference there?
Services departments is where dealerships make money!
With regards to interest rates and financing, you also have to factor in credit when making your purchase. If you come in with a 500 credit score and want a 5% rate on a used car........it's really not going to happen, even with the best banks willing to lend.
I really love this car and I'm coming from a 03 Cavalier, which is on the same level as the Neon. The level of standard equipment and the build quality is outstanding!
I like Honda's and my old CRX had almost 200,000 miles on it when it died from hitting a tree. Honda's hold their value pretty well and a civic with 150,000 miles on will still probably run you $3,000-$5000 depending on the year.
I wonder what the average lifespan for a car is (mileage wise).
I fold, btw
I feel like I've seen Honda's running around with 300+, but I can't remember where/who had it.
I looked at scions and they were rather expensive for their price range, imo. Fully loaded approached 25k which could puts you in an annoying spot, imo, because you have options from used higher-end models to various models in that range. Granted, I'd take a Scion Tc over an underloaded camry, but then you see used Lexus IS's going in that range and you have to stop and think.