Used cars.

[Betheny]

Okay, folks. I'm buying a car.

I need a little help though. I know I want to go to a reputable dealer and get a fairly decent vehicle for my money, and a low monthly payment. But I also want something that's fairly nice (Since I am going to be paying for it) and something that's reliable. Hopefully something cheap to fix.

I also don't know shit about loans, but I want to keep my monthly payments under $200.00. I'll have a thousand dollar down payment. I figure I don't want a loan for more than 15 grand, since I want the payments low.

Gas mileage is a plus, too. And cheap insurance rox.

Suggestions? I'd like to buy something '99 or newer.

[Zanagodly]

1000 down with a 15k loan will be more than 200.00 a month. More like 300.00. I had a manual Volkswagen Jetta that was a 96 for the period of 98-00. It was great on gas, safe, and bought it for 12000 only 2 years old. Payments were 199.75 a month on a 60 month loan. I forget how much I put down, but I had my stepfather with the uber nice credit cosign.

[Killer Kitten]

I got a 2001 Jeep Cherokee for 15k. So far it's been terrific (bought it in July). We're in Long Island and purchased it at Island Jeep, if you're anywhere in this area. They have a nice, low pressure sales staff and a good factory warranty on the cars they sell.

I chose a Jeep because I'm one of those people who have to get to work, especially on days with deep snow. So four wheel drive is a must.

Good luck with your car search and I hope you find the perfect vehicle.

Kimm/Ex-Tilone

[Betheny]

Yeah my mom has A++ credit rating, she's cosigning for me... else I probably wouldn't be able to get a car. She's also going to give me the down payment, and I can go up as far as 2 grand on that. I'd rather put a grand down and pocket the other thou, though, haha. I hate hate hate hatchbacks, but I'm kind of leaning towards a Hyundai Accent, because they're reliable, have good warranties, have great mileage, and are comfortable (My brother had one.) I thought about a Saturn, but they seem to be relatively difficult to find.

[Soulpieced]

I'm sure you could get a 2000-2001 Civic with great mileage for less than 10k.

[Edited on 9-7-2004 by Soulpieced]

[Soulpieced]

*Noted again to say do NOT buy a Kia or Hyundai.

[Ravenstorm]

One of those news magazines did a report on how some, not all, car dealers really try to screw you when it comes to financing. Their advice was never, ever, sign anything until you know exactly what you're going to end up paying for. Every single last detail. Some of them slip in things you didn't agree to among all the papers you end up signing.

Also, see if you can do better on your own through a bank you trust instead of having them arrange it.

Raven

[Betheny]

I fully intend to... well, hopefully, bring a guy with me.

Women really get screwed on cars.

[peam]

Hyundais rule. I've had mine for three years, 66K miles and I haven't had any trouble that wasn't routine wear and tear.

[Gan]

Here's some info that you might find useful:

Avg. bank loan rate for a used car @ 36 months is: 6.43%

source: Bankrate.com (http://www.bankrate.com/brm/rate/auto_home.asp?link=8)

A loan for $14,000 (less the 1k down payment) at 36 months at 6.43% will put your monthly payment at $459.26. (source=see above -bankrate.com)

Historically the rates for longer terms (>36 month) will be marginally higher than shorter terms as shown on the same site... No rates were given for terms >36 month so we could hypothetically look at a higher rate for a 48 month term and see what will fit your budget.

(here are some scenarios with loan amounts not including your 1k down)

--> $14,000 at 48 months at a hypothetical 6.69% will yield a monthly payment of: $333.24

-->$10,000 at 48 months at a hypothetical 6.69% will yield a monthly payment of: $238.03

-->$9,000 at 48 months at a hypothetical 6.69% will yield a monthly payment of: $214.22


Use the loan calculators on the website to calculate what you think you'll spend. Loan rates will vary with factors such as credit rating, ecetera. I would expect a loan rate from 6.25% to 7.25% for a used vehicle.

Good luck on your purchase... There are quality used cars out there if you do your're homework.

Another good site is: CarFax (http://www.carfax.com)

This sometimes will give you some history on the vehicle you're considering purchasing.

[Betheny]

Originally posted by Ganalon
Here's some info that you might find useful:

Avg. bank loan rate for a used car @ 36 months is: 6.43%

source: Bankrate.com (http://www.bankrate.com/brm/rate/auto_home.asp?link=8)

A loan for $14,000 (less the 1k down payment) at 36 months at 6.43% will put your monthly payment at $459.26. (source=see above -bankrate.com)

Historically the rates for longer terms (>36 month) will be marginally higher than shorter terms as shown on the same site... No rates were given for terms >36 month so we could hypothetically look at a higher rate for a 48 month term and see what will fit your budget.

(here are some scenarios with loan amounts not including your 1k down)

--> $14,000 at 48 months at a hypothetical 6.69% will yield a monthly payment of: $333.24

-->$10,000 at 48 months at a hypothetical 6.69% will yield a monthly payment of: $238.03

-->$9,000 at 48 months at a hypothetical 6.69% will yield a monthly payment of: $214.22


Use the loan calculators on the website to calculate what you think you'll spend. Loan rates will vary with factors such as credit rating, ecetera. I would expect a loan rate from 6.25% to 7.25% for a used vehicle.

Good luck on your purchase... There are quality used cars out there if you do your're homework.

Another good site is: CarFax (http://www.carfax.com)

This sometimes will give you some history on the vehicle you're considering purchasing.

THANK YOU!

A huge help!

And Soulpieced, could you give me specifics on why buying a Hyundai is a bad idea?

[Wezas]

Check Edmunds.com for your price range.

12 coupes for under $15k (http://www.edmunds.com/new/pricerange/under15k/coupehatchback/index.html?tid=edmunds.n.typeindex.content.num1.0. *)

They include 2005 Chevy Cavalier, 2005 Ford Focus, 2004 Honda Civic 2door Coupe, 2004 Hyundai Accent & Elantra, 2005 Pontiac Sunfire, 2004 Saturn ION, 2005 Scion xA.

A 5-door 2005 Ford Focus ZX5 S - for example - has 0.0% financing for 5 years (approved credit, of course). Edmunds.com is a good place for information on cars including options, prices, reviews, and rebates.

[Soulpieced]

http://www.consumeraffairs.com/automotive/hyundai.htm

.

Feel free to read the consumer complaints, especially on brakes. Scary.

[Izalude]

Saturns are nice cars new, but after 5-6 years they start to fall apart. My friend got one that was 4 years old with about 30k miles on it. A year later, everything started coming apart. The alternator and timing gears both died around the same time, and the dealer wouldn't replace it. Saturns are mostly plastic too. Trust me. Do NOT buy a saturn, Kia, or any American car! They're all crap.

I have a laundry list of horror stories from my former Ford and GM cars. I'll never buy from either again.

[Betheny]

I'd never buy Ford; but all I've owned up until this point is Chevrolet or GM vehicles, and I've never had a problem with them. Actually I would almost prefer to own a GM vehicle, because I'm semi-familiar with their inner workings and can fix minor things with them (brakes, alternators, belts, et cetera.).

I'm not sure I want to buy brand-new, even if the price is right; the thought of the value of the car depreciating by a few thousand just by driving it off the lot depresses me. And Scions are so ugly... that Aveo isn't so bad. Even if I do have an aversion to hatchbacks. Hah.

[Skirmisher]

For like 10K you can get a really nice used corolla or even a nice maxima or camry with the last two being my favorites.

Stick with a civic or corolla if you cant get the six cyllinder camry or maxima.

Those cars if properly cared for, ie cleaned, oil changed every 3k miles or so and assorted fluids as required by the manufacturer, will last you as long as you dont crash them.

Hyundais have improved alot, but they are just not at the same level as the japanese yet.

[Soulpieced]

Everything Skirmisher said I agree with.

[Betheny]

I like Honda Civic, but their resale value is insane, meaning... in order to get one cheap it's going to have to be old. :-\ Not sure how I feel on that one.

[Wezas]

Originally posted by Skirmisher
Those cars if properly cared for, ie cleaned, oil changed every 3k miles or so and assorted fluids as required by the manufacturer, will last you as long as you dont crash them.


Spoken like a true woman.

[Skirmisher]

Originally posted by Wezas

Spoken like a true woman.

Hey, they hit me damnit! :rant:

[Soulpieced]

Hey, they hit me damnit!

.

Yeah, if you switch the words "they hit" with the phrase "I rear ended going 30 mph" and the word "me" with "him in my soccer mom SUV at a stop light" then yes.

[Wezas]

Originally posted by Soulpieced
Yeah, if you switch the words "they hit" with the phrase "I rear ended going 30 mph" and the word "me" with "him in my soccer mom SUV at a stop light" then yes.

pwnd.

[Betheny]

Is it a bad idea to have the attitude.. if I"m go ing to spend ten grand on a car, I might as well get a NEW car?

[Betheny]

Hahahaha.

http://www.carmax.com/dyn/factsheet/factsheet.aspx?id=2446736

It's cheap, just waiting on the loan authorization now.

[Gan]

You'll have to look at the costs vs. benefits of buying new vs. used.

Some benefits I can think of for new cars:
1. warranty and available extended warranty.
2. parts/accessories are new thus not needing replacement soon... ie - battery, tires, shocks/struts, fuel filters, brakes, sensors (O2/SMEC/etc.)... these are the expensive things to replace cost per part wise, as well as if you don't/can't do the labor yourself, that go beyond oil changes and common filter changes.
3. updated technology with regards to safety.
4. lower interest rates (sometimes 0% even)
5. other dealer incentives/programs that might be going on in your area.
6. new car smell, new car smell, new car smell!!!

According to some of the posts before this one, you've got a fairly good idea of what to expect with buying a used car. Which does have some advantages but falls short in some of the larger ticket expenses that you might face in certain age ranges of cars... much like how people start to breakdown as they get older... :whistle:

As my wife and I are looking into purchasing another vehicle in the near future I'm probably going to troll through the local carmax lot or looking at the car sales department of Hertz for their volvos and SUV's before hitting the new car lots for program cars or dealer demo's that have been driven for a few thousand miles. Last case scenario is if we don't find anything there we'll look for new on the lot vehicles.

[Wezas]

Originally posted by Maimara
Hahahaha.

http://www.carmax.com/dyn/factsheet/factsheet.aspx?id=2446736

It's cheap, just waiting on the loan authorization now.

Not bad, still 20k miles left on the original warranty.

A girl after my own heart.... a 5-speed. Nice gas milage too.

Now all you need is a stereo system. There's a thread around here somewhere for it.

[Betheny]

Yeah, I <3 manuals. that was one of the selling points. That and the price tag. And the air conditioning.

I just couldn't dump that kind of money into a 4 year old car... and realistically, I'm not worried about resale value, because I'll drive this thing til it dies.

[Wezas]

We'll get you hooked up with an intake, exhaust, etc.

You'll be over 100hp before you know it.

:rah:

[Betheny]

The gas mileage was a SELLING POINT! LOL

[Parkbandit]

I will rent you my father in law for $1000 per 24 hour period.

Trust me, he's well worth it. He can haggle anyone down until they basically give up and give him what he asks. I cannot go with him because I end up feeling sorry for the salesperson.

He's purchased my last 3 vehicles and saved me well over 10K.

[Wezas]

Carmax does not haggle.

[Parkbandit]

PS - I would by a Honda or Toyota only. In my 40 years of life, I've owned the following brands:

Dodge
Ford
VW
Mazda
Toyota
Honda
Toyota
Honda
Honda
Mazda

I currently lease a Mazda mini-van (my wife drives that so shut up) and haven't had an issue with it yet.. but I was very reluctant.

[Parkbandit]

Originally posted by Wezas
Carmax does not haggle.

Carmax is for pussies who don't have a father in law that will go out and face those mean salespeople for him.
:P

[Betheny]

I'd like a Mazda, but realistically, the price is just too high. The last thing I want to do is get into something that I can't pay for. I could do it, bu t I dont' want to eat ramen for the next 4 years. I would rather drive a less fancy car (but reliable) and have a little money left over for things like insurance and stuff.

[Wezas]

Originally posted by Parkbandit
Carmax is for pussies who don't have a father in law that will go out and face those mean salespeople for him.
:P

Calling people pussies and then saying you need your father in law with you to buy a car is amusing.

The internet is your friend. Find out the invoice, plan out how much you want to pay per month and how many years, and then tell them to work it out.

Stop being a pussy. Next time lease a minivan without needing her daddy to help you with the big bad salesmen.

[Betheny]

Originally posted by Parkbandit

Originally posted by Wezas
Carmax does not haggle.

Carmax is for pussies who don't have a father in law that will go out and face those mean salespeople for him.
:P

Carmax is also for women who would probably get totally fucking ripped off at a dealership for being 1. single, 2. having tits, and 3. not having a father to do the dirty work for her.

That's the truth.

Also, it isn't like I HAVE a car to go around and shop.

[Skirmisher]

Originally posted by Soulpieced
Hey, they hit me damnit!

.

Yeah, if you switch the words "they hit" with the phrase "I rear ended going 30 mph" and the word "me" with "him in my soccer mom SUV at a stop light" then yes.
:(

[Betheny]

Well, screw that. anyone selling a cheap car? LOL

[Wezas]

Originally posted by Maimara
Well, screw that. anyone selling a cheap car? LOL

Carmax deal fall through?

[Betheny]

Originally posted by Wezas

Originally posted by Maimara
Well, screw that. anyone selling a cheap car? LOL

Carmax deal fall through?

it's a long story involving ex husbands that lied about filing for bankruptcy on debt they incurred, and me just finding out about it. he stuck me with something like 90% of the debt he incurred. so, unless I want to pay 24% interest, I get no loan.

[Wezas]

Originally posted by Maimara
it's a long story involving ex husbands that lied about filing for bankruptcy on debt they incurred, and me just finding out about it. he stuck me with something like 90% of the debt he incurred. so, unless I want to pay 24% interest, I get no loan.

Damn.

Stop by a grocery store and pick up an auto trader or go to traderonline.com.

I have my eye on this one:

http://adcache.collectorcartraderonline.com/10/8/4/75137884.htm