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Quixotic1 posted:Providence has now forced my hand and I need one suddenly. If you buy used, you're getting into a car you know nothing about. If you buy new, you're also getting into something you know nothing about (financing). Since you're not familiar with the process, and you are now desperate, your odds of getting screwed by the finance guy at the dealership are 100%. Your odds of getting a total lemon if you pay $7000 cash for a craigslist Honda Civic are very low, especially if you pay a mechanic to inspect it. Start with this guy: http://miami.craigslist.org/brw/cto/2888627277.html If you drive it for a while and don't like it, sell it for the same price you paid and go buy another car. MrKatharsis fucked around with this message at 22:39 on Mar 20, 2012 |
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Mar 20, 2012 22:37
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My car is a POS to the point where I'd feel bad giving it to someone else. It's spent a good amount of time of it's life running without much of any oil, the brakes are acting up, it barely turns on, a 1 square foot chunk of paint fell off the side door. The cosmetic stuff doesn't bother me, it's the fact that the engine could at any moment just stop running, or worse, is what bothers me. Any chance of selling it as a project car/parts on craigslist?
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Mar 20, 2012 22:56
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MrKatharsis posted:
I've read a lot about having a mechanic doing an inspection when buying a used car. That sounds like a good idea, but I'm completely clueless about how this works. What, do you just take the car over to your mechanic while test driving? Wouldn't it take a while potentially? Wouldn't I need to make an appointment first? What if my mechanic is on the other side of town? Conversely, if I'm selling the car, do I just let the prospective buyer drive off in my car? How do I ensure they are coming back? Sorry if this is a dumb question, but I just don't get it. Only bought a used car once from a dealer, and didn't get it inspected first (probably should have). I am thinking about selling a couple cars in the future and am still trying to figure out what to expect.
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Mar 20, 2012 23:28
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MN-Ghost posted:I've read a lot about having a mechanic doing an inspection when buying a used car. That sounds like a good idea, but I'm completely clueless about how this works. What, do you just take the car over to your mechanic while test driving? Wouldn't it take a while potentially? Wouldn't I need to make an appointment first? What if my mechanic is on the other side of town? The one time I did it, the seller (me) drove the car to the buyer's preferred mechanic, after the buyer had paid the mechanic to do a used car inspection. I drove it there in the morning, went to class, and got it back when class was done. I don't know if this is the normal way to do things, but it's how it worked out for me.
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Mar 20, 2012 23:37
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MN-Ghost posted:I've read a lot about having a mechanic doing an inspection when buying a used car. That sounds like a good idea, but I'm completely clueless about how this works. What, do you just take the car over to your mechanic while test driving? Wouldn't it take a while potentially? Wouldn't I need to make an appointment first? What if my mechanic is on the other side of town? What I do (have bought and sold a whole lot of cars on craigslist) is first meet with the seller for a test-drive and look-over. If you like the car, explain that you would like to have a mechanic look it over. Call and make an appointment with your mechanic, and try to fit that around the seller's schedule. There are then three options - convince the seller to let you borrow the car, have the seller meet you there, or have the seller take it in on his own. You can normally pre-pay the mechanic since inspections are normally a flat fee, and then you just have the mechanic give you a printout of all the stuff he finds. That last option normally works out the best.
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Mar 20, 2012 23:39
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I'm looking at buying a VW GTI. A new one can be purchased for 24-25k, the used ones I'm looking at are 2009s for 16k. I'd like the car to get me through at least the next 5 years with regular maintenance. Any thoughts on whether that's a good value?
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Mar 20, 2012 23:40
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I've been pricing out insurance as I contemplate a car purchase. I'm actually on my parent's plan right now, since they technically own my Saturn. I can't imagine that insuring a magnificent SL sedan costs very much, so I don't feel too bad about this, However, this setup will not be sustainable once I go into the big scary world of real car ownership. So far Progressive gives me substantially better quotes than any other place I try. I can get $300-400 per six months for a comprehensive plan from them, when other places often want to charge me $1000+. Is there really that much difference between insurance companies? Also, back in July of 2009 a bored rear end in a top hat cop decided to pull me over and ticket me for going 65 on the freeway at 5:00 AM on a Sunday morning. The ticket literally cited me for going five over the speed limit. I could hardly believe it at the time. Anyway, as far as some auto insurance quotes are concerned this ticket will fall off my record at the three year mark - in other words, this coming July. The difference between putting the ticket on the quote and leaving it off can be more than $100 per six months. My question here regards the timing of any kind of rate reduction I should expect once the three year mark passes. Should I expect to see my rate decrease automatically? If I grab a six month rate plan will I be locked into the higher rate for months past July? Is this something I should talk to a human insurance agent to figure out? Do those still exist anymore? I guess there really isn't a meaningful amount of money at stake here compared to how much I plan to throw at actually buying a car, but it still bugs me. Kefit fucked around with this message at 06:48 on Mar 21, 2012 |
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Mar 21, 2012 06:34
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You can cancel insurance at any time and be paid out the remaining premium, so if your rate does not drop, you can easily move somewhere else.
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Mar 21, 2012 13:17
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On the insurance talk. I'm in the market for an econobox (4-6k hatchback) and want to know what the rule of thumb is for dropping collision coverage. I've always had 'higher value' vehicles so the notion of being 100% on the hook for repairs is daunting on the surface. At what price point doesn't it make sense anymore? I presume (and being a financial analyst I should just do the math) that it works out to be the premiums paid on full cover over x time period > replacement cost.
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Mar 21, 2012 13:38
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Residency Evil posted:I'm looking at buying a VW GTI. A new one can be purchased for 24-25k, the used ones I'm looking at are 2009s for 16k. I'd like the car to get me through at least the next 5 years with regular maintenance. Any thoughts on whether that's a good value? This is my personal opinion, but don't buy a VW if you're expecting reliability. They are nice cars when they work, but the repair bills will eat you alive. My VW-loving buddy spent thousands and was meticulous about maintenance, but now he drives a Hyundai. I remind him of this all the time  TraderStav posted:On the insurance talk. I'm in the market for an econobox (4-6k hatchback) and want to know what the rule of thumb is for dropping collision coverage. I've always had 'higher value' vehicles so the notion of being 100% on the hook for repairs is daunting on the surface. At what price point doesn't it make sense anymore? I presume (and being a financial analyst I should just do the math) that it works out to be the premiums paid on full cover over x time period > replacement cost. Are you a safe driver? Do you watch your speeds, slow down when weather gets bad, pay attention to your surroundings? How long has it been (miles and years) since you last caused an accident? Can you afford a replacement car if you wreck yours? We all make mistakes, but a $500 deductible on a 5K car + increased premiums on a depreciating asset doesn't make a whole lot of sense to me. That's right about the time I would drop collision coverage. A car worth 6+ would be worth it, if the premiums were reasonable. Nocheez fucked around with this message at 13:46 on Mar 21, 2012 |
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Mar 21, 2012 13:41
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sanchez posted:You can cancel insurance at any time and be paid out the remaining premium, so if your rate does not drop, you can easily move somewhere else. You can just rewrite your policy with the company you are with.
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Mar 21, 2012 15:08
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Bovril Delight posted:You can just rewrite your policy with the company you are with.
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Mar 21, 2012 15:20
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TraderStav posted:On the insurance talk. I'm in the market for an econobox (4-6k hatchback) and want to know what the rule of thumb is for dropping collision coverage. I've always had 'higher value' vehicles so the notion of being 100% on the hook for repairs is daunting on the surface. At what price point doesn't it make sense anymore? I presume (and being a financial analyst I should just do the math) that it works out to be the premiums paid on full cover over x time period > replacement cost. IMO, it's not worth having collision on a car worth less than 5-6k unless it is some sort of special or rare car (i.e., not an econobox) that you would actually want to keep and fix if it were in an accident. Chances are that if you get in an accident serious enough to warrant an insurance claim in a car worth only 5k the car will be totaled. You'll be out your deductible and your rates will go up for having a write-off on your record, just to get a check for 4-5k. It depends on your financial situation for whether or not 4-5k is a "disaster" level chunk of money, but IMO once a car is worth that little it's better in the long run to just drop the collision coverage and "self insure" in the event of an at-fault collision. Unless you're a lovely driver and getting in accidents all the time. The answer could also depend on the state, I suppose. I know that some states are really stupid about fault assignment (or lack of) in accidents, and that could factor into it, too. I'd be pissed if I had to pay out of pocket to fix/replace my car if I wasn't the one that caused the accident. Fortunately I don't live in one of those states, so I don't know much about it. If I was the at-fault party, my liability would deal with the other guy's damages and I'd pay out of pocket to fix/replace my own car. Guinness fucked around with this message at 17:39 on Mar 21, 2012 |
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Mar 21, 2012 17:34
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When a car is not worth much money, the collision coverage for it is generally pretty cheap. The insurance company knows how much the car is worth and is charging you for its estimated replacement costs if you total it, basically. Example: my 92 chevy S-10 with 215k miles is not worth much money, maybe $1500 or so. But collision coverage is costing me $130.06 a year ($500 deductible) and "other than collision loss" is another $14.30. I'd have to go over seven years without a wreck before I'm getting behind on that math, and this vehicle probably isn't going to last that long. A few years ago, someone put a big dent in it while it was parked at work. Estimated repair cost was $1800, so I got a check for $1300 (and did not bother to have the dent fixed). It was obviously not my fault so my insurance didn't go up, either. It was like free money to me, made it feel totally worth it. Obviously whether it's worth it or not depends on the exact replacement value of the vehicle and how much it's costing you, but also factor in the "don't really want to replace this vehicle" premium. E.g., my truck is worth $X theoretical dollars, but it's a vehicle I've personally maintained for a decade... I know exactly what's wrong with it (rust, A/C is gone, there's a hole in the top of the wiper fluid reservoir, the sensor on the brake master cylinder that detects imbalance between the two slave brake systems is toast) and exactly what isn't (all important mechanical systems are gold). If I had to replace it with another $1500 truck, I'd be getting a host of unknown issues I don't want to deal with. So to me, I'd rather not be out of pocket on it if it gets totaled. I take what I could afford to replace myself and add the insurance payout and I wind up with a better replacement vehicle than otherwise. e. I also have uninsured motorist coverage and something called "waiver of collision deductible" which I think, if I remember right, means I pay no deductible on collision if it's a hit & run or uninsured driver? I'll have to check (the waiver is ten bucks per vehicle per year). If you are waffling on where to spend your insurance dollars though, I would definitely say get decent liability coverage before you worry about collision. The most you're out in collision is the value of your own car. But liability covers the damage you cause to other people's property, and in a big wreck you could easily do hundreds of thousands of dollars of damage. I'd say get at least 100K of liability before you worry about collision on your beater. Leperflesh fucked around with this message at 18:09 on Mar 21, 2012 |
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Mar 21, 2012 18:03
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Residency Evil posted:I'm looking at buying a VW GTI. A new one can be purchased for 24-25k, the used ones I'm looking at are 2009s for 16k. I'd like the car to get me through at least the next 5 years with regular maintenance. Any thoughts on whether that's a good value? VWs seem to be a gamble. There are some people that have no issues what so ever with their cars and sweat by them, for everyone of those people there seem to be 5 that have had horrible money pits.
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Mar 21, 2012 19:07
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dreesemonkey posted:VWs seem to be a gamble. There are some people that have no issues what so ever with their cars and sweat by them, for everyone of those people there seem to be 5 that have had horrible money pits. Isn't the quality difference between Mexico-assembled VWs and Germany-assembled VWs one of the largest influences?
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Mar 21, 2012 19:13
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/\/\Not really. Perhaps initially with the earliest Golfs made in Mexico, back in the early 2000s, but quality control is fine, and the car is designed in Germany. Which country's robots weld together your car has little bearing on quality any more. The problems with most years and models that had problems are well-known. There are specific model/year combos to avoid, and others that are generally OK. The result is a general reputation for unreliability and/or expensive repairs, which is perhaps deserved... but if you can do your research, there are plenty of good VWs out there to be had, and they retain their value pretty well. The Mark V Golf platform continued into 2009, and the Mark VI starts in 2009 (in the US, this was "model year" 2010), so for a 2009 GTI I'm not sure which you'd be looking at but probably the MkV. Interior quality for the MkVs was a significant downgrade from previous versions, but the MkVI makes a lot of improvements, so I think a lot of people would say go for the MkVI just for the better quality inside. Well-maintained, a GTI should not be horrible. It's not a Honda or a Toyota, but it's also not a lovely early-2000s domestic either. You can check reliability ratings on Edmunds. For example, here's the page for the 2010 GTI, which shows ratings through 2008 (because a car as new as a 2009 or 2010 doesn't have much record to go on yet). You can see significant engine issues from 2004 (MkIV, particularly the older VR6 version) and 2006 (first year of the MkV GTI), but good ratings after that across the board. And, of course, the GTI is a really sporty, fast hatchback, lots of fun to drive, with better interior than most domestics and japanese competitors. It's easy to see why people like them once you drive one. Leperflesh fucked around with this message at 19:26 on Mar 21, 2012 |
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Mar 21, 2012 19:23
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Doublepost, and more e/n than a question for the thread: We have four cars at home: Honda civic - everyday family car Chevy cavalier - backup / second family car Ford ranger - truck Mazda miata - fun car It's come to my attention that this is a bit overkill. Now since we have a small child my wife and I are pretty much never going to get to enjoy the miata (we work at the same place and carpool after dropping our son off at daycare), and the truck is useless in that we can't all fit in it. So the solution seems to be get rid of the truck and the cavalier (minimally), and get a truck large enough to fit all of us comfortably. I'm on the hunt for a "crew cab" 4x4 silverado since Chevys seem to be pretty ubiquitous and cheap/easy to get parts for. The problem is that any decent truck that isn't rusting apart already looks to be well above the $10k barrier, and also "crew cabs" are somewhat new in the mainstream so they aren't old enough to get cheap yet. I'm getting very frustrated because I really really really don't want to take another loan in my life (as a matter of principal), but it's unlikely that we're going to be able to save much more in the short-term and I'd like to get this squared away sooner rather than later. Another problem is that we can't really get rid of our truck or cavalier until we get another vehicle, so we can only sell the miata right now, which I need to replace the top on and frankly I'd like the idea of keeping it, even if it's impractical. In the end if I have to get a ~$5000 loan I will and pay it off quickly, but even just the idea leaves a bad taste in my mouth. I'd feel like a hypocrite or something. I just hope that if gas gets ridiculous expensive over the summer people will be looking to offload their V8 trucks cheap. tl;dr - Damnit trucks, why you so expensive.
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Mar 21, 2012 19:36
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dreesemonkey posted:
You probably already thought about this, but would a wagon fit the bill? It's less useful as a truck and can't tow as much but something like an old Caprice wagon would haul an assload of stuff while seating your family. And there's all sorts out there.
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Mar 21, 2012 19:52
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Leperflesh posted:When a car is not worth much money, the collision coverage for it is generally pretty cheap. The insurance company knows how much the car is worth and is charging you for its estimated replacement costs if you total it, basically. I'm in the same boat. My '98 Ranger is hardly worth anything but because of that (and a clean record) my insurance on it is dirt cheap, even for full coverage. Adding collision, comprehensive, underinsured and uninsured coverage to it costs me less than $12/mo.
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Mar 21, 2012 20:12
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Yeah, I was gonna say. Pickup trucks aren't really good "Family outing" vehicles: they're for hauling a bunch of stuff too filthy or bulky to fit into a wagon or van. When you're taking the family somewhere you want your Civic. If you're going on a big long trip like camping or something, and you do that enough to justify actually owning a vehicle specifically for it, get yourself a (gulp) minivan or wagon. If you take one big family trip a year, just rent something when you do it and save yourselves thousands of dollars. If you haul big loads of stuff less than like three or four times a year, just rent a pickup truck when you need one and save yourselves thousands of dollars. The reason pickups hold their value is because they are work vehicles and lots of people need work vehicles, for work. They are not, however, good on mileage, or particularly safe (compared to passenger autos), or convenient to park, or good for child seats, or inexpensive to purchase. I have a pickup and love it, mind you: but we bought it cash for $6k in 2000, with 69k on the clock, and my wife used it to haul ceramics stuff like hundreds of pounds of clay. These days it's got 215k on it and we barely use it at all and it's just our second vehicle for the rare occasion when we need one (maybe once a month). It's cheap to insure and we have space in the driveway to park it and it's not worth enough to bother selling. It's nice having a truck for occasional use (I'm a homeowner) but if I didn't already have one, I certainly wouldn't spend thousands of dollars to buy one just for that: not when you can rent a pickup from Home Depot for like $25 a day. If I were you I'd do one of the following: Keep the Civic and the Miata, sell the other cars. Rent a truck or minivan when you occasionally need one. Keep the Civic and the truck, because you really need a truck. Rent a minivan or SUV or whatever when you occasionally take the kids on a big road trip. Leperflesh fucked around with this message at 20:17 on Mar 21, 2012 |
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Mar 21, 2012 20:14
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Leperflesh posted:not when you can rent a pickup from Home Depot for like $25 a day. Is it really that cheap at Home Depot? Last year I rented a pickup from Uhaul that was supposed to be about $35 a day, but after various fees and taxes and mileage costs I paid more like $80 for it.
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Mar 21, 2012 20:33
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Another reason for getting rid of some of the cars is that I have too many hobbies and not enough time, like the miata for instance. One of the hobbies that I really enjoy and would gladly give the miata up for is riding my ATV, which is another reason why a truck makes sense for us. ATVs aside, anyone who owns a home can appreciate how handy it is to have a truck around. Sure you could get plywood and drywall with a minivan but I doubt you'd want to pick up mulch. The fuel economy is a moot point as I'd be driving it less than 5k a year and it will do no worse mpg than my V6 ranger gets now. Counterpoint: It does seem silly to be spending all that money on something we're not going to drive very often, but having a vehicle that our family cannot all travel in at once is not something I want, either.
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Mar 21, 2012 20:51
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CornHolio: HD's website says $19 for the first 75 minutes, with the clock not starting until whatever you bought is loaded, and then $69/day. dreesemonkey: I've actually been going through a similar exercise given that I have a little one on the way in ~5 months. I was thinking along the same lines, that I don't want to have a 'daily driver' that we can't all fit in (the Mazdaspeed3 will be fine, but my single cab Ranger is a no-go) but once we actually tried the car seat in the MS3, I realized that car is big enough to be the 'only' one that all three of us will fit in. There aren't any situations where I would need to haul something in the Ranger and have all three of us in the car. At the end of the day, though, the absolute cheapest option is to throw $300 of parts at the Ranger to rebuild the suspension (which is in 'barely workable' condition) and then continue driving it for pretty much the cost of gas, and only replace it with something that can fit the family when I've got a lot more money sitting around.
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Mar 21, 2012 21:46
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CornHolio posted:Is it really that cheap at Home Depot? Apparently not. I was remembering an advertisement but I guess that was a few years ago. Regardless: even if it's $80, you could rent one six times a year and you'd still be paying thousands of dollars less than buying even a modestly-priced used truck just to store it in your driveway most of the time. dreesemonkey: I understand about the ATV, if you need to put it in the bed, but you could get a trailer and a wagon capable of hauling that trailer... What actual use case scenario are you imagining where you'd need to fit the whole family into a vehicle and go somewhere, but it needed to be a pickup truck and not your sedan or a wagon or minivan?
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Mar 22, 2012 00:30
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dreesemonkey posted:Another reason for getting rid of some of the cars is that I have too many hobbies and not enough time, like the miata for instance. I just picked up 12 bags of mulch in my 2 door hatchback. A tarp and a dustbuster for whatever sneaks out and you're golden.
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Mar 22, 2012 03:38
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Bovril Delight posted:I just picked up 12 bags of mulch in my 2 door hatchback. A tarp and a dustbuster for whatever sneaks out and you're golden. Or pay for delivery.
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Mar 22, 2012 03:54
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I'm currently considering making an offer on one of two cars: 2007 Mazda3 Grand Touring sedan, 75k miles, asking $11,500. 2008 Mazda3 Grand Touring hatchback, 49k miles, asking $14,500. I'm thinking I can probably negotiate a chunk off each of these. This puts the sedan very comfortably within my budget, while the hatchback would be doable but kind of a stretch. The main problem is that I have to add sales tax on top of whatever I pay the owner - I've got some of the highest in the nation up here in Seattle, and it really makes car shopping much more harrowing than it has any right to. My pocketbook screams for the sedan. That's low enough miles that it will last me for a very long time, and I don't really care at all that it's a year older. But my utilitarian side screams for the hatchback. I currently have easy access to my mom's wagon and my stepdad's truck when I need to haul something, but as a long term purchase decision I think I would enjoy the extra utility in the event that I lose access to those vehicle or god forbid ever manage to move out and start living on my own. It would also come in handy when one of my friends decides to be hilarious and asks me to pick him up only to be holding twelve large helium balloons when I arrive. Basically I don't want to be regretting my purchase decision five years down the line if/when my life circumstances change... ...ok, writing my thoughts down makes me realize how much I don't actually need a hatchback, and thus can't justify the extra cost for one. Still, it would be nice to have, which makes me think about my comedy joke option a bit: stalking Craigslist for however long it takes to find a comparable 2007 hatchback. I don't need a newer car right this second, but it would be really nice to have one by the time summer rolls around and I start going on some longer trips again. Kefit fucked around with this message at 06:55 on Mar 22, 2012 |
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Mar 22, 2012 06:31
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Might want to wait. That's a common car. I can't imagine it'll be too long before what you want pops up in a city the size of Seattle.
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Mar 22, 2012 06:43
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Leperflesh posted:What actual use case scenario are you imagining where you'd need to fit the whole family into a vehicle and go somewhere, but it needed to be a pickup truck and not your sedan or a wagon or minivan? It comes up fairly often, usually involving traveling some distance to visit friends or relatives. - Visiting my parents and wanting to take the kayaks or bring back junk that they're always offloading on us (canoe, pool table) - Visiting friends, wanting to take my ATV to ride. Also needed to take a dishwasher to these friends and a bicycle (I don't have a bike rack) in the last few months. - Going to cabins, a few times a year we'll go to a friend or family member's cabin. This either means I want to take my ATV and we have to go over some terrain that isn't intended for low-ground clearance vehicles. One of the cabins we have to cross a stream and we couldn't make it because the water was too high. So far since my son has been born we haven't been able to go to any of them  Re: Mulch We don't pay for mulch, there is a community mulch pile that you load yourself. That means no bags and lot's of mess!
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Mar 22, 2012 14:54
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dreesemonkey posted:It comes up fairly often, usually involving traveling some distance to visit friends or relatives. Sounds to me like this would do you well:  Mid 2000s Subaru Forester with a roof rack, and a light trailer suitable for bringing your ATV or hauling your parent's junk. Better utility as a car for doing family car stuff, reasonable mileage (better than a fullsize pickup with a quad cab), can probably handle the heavier terrain with AWD (but if you really need high ground clearance for those cabin trips, maybe rent something appropriate). Safer for your kids, easier to park, and a good reliable vehicle in any case. e. I hope it doesn't seem like I'm trying to contradict you. I'm just looking for solutions that will let you do what you want for a reasonable cost without having to own three or four different vehicles. From a BFC perspective, in other words. Leperflesh fucked around with this message at 22:43 on Mar 22, 2012 |
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Mar 22, 2012 22:39
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Nah it's cool, this is the first time I've been on this side of a BFC debate before, it's kind of funny. A forester is a decent option. There are tons of subarus around here, but usually well worn and rusted. I forgot another important heavy-duty thing we need to do (and now more often) is hauling wood pellets to heat our house. I think a ton of pellets + a trailer would probably be too much for a forester to tow, or at least at the very upper end. I've talked things over with my wife and right now we're not in any hurry despite me constantly looking at cars for sale. This morning I tried to talk her into maybe a older, cheaper SUV. Looking at tahoes/yukons at the moment, would have good amounts of space and should be ok to haul multiple ATVs and literal tons of wood pellets with a trailer. We had looked at a '01 yukon a few weeks ago but our mechanic gave it a thumbs down. If we go the previous generation (the boxy tahoes/yukons) that seems to be the sweet spot in terms of price and bang for your buck. The 5.7 is less powerful and less economical than the 5.3l LSx engine, but there are plenty in the $3-6k range. If I can get one around $5k with minimal rust, even if we have to replace the engine/tranny it should last us many years and still be quite inexpensive. A non-truck + a trailer is probably the most frugal way to go about it, and I do have place to store a trailer, it's just one more thing that I then have to look for, park in the yard, pay registration on, etc. etc.
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Mar 23, 2012 14:12
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Cross postin' this from AI since it might be a better fit here? What's a good starting point for negotiating used car prices with a dealer? The car I'm looking at (08-10 VW GTI) show a trade in price of 14.5k, PP of 16k, and dealer retail of 17.5k. I see them listed for 18-19k. Where should I go in on this price wise? Is it stupid to expect to get it for 16k? Residency Evil fucked around with this message at 12:46 on Mar 27, 2012 |
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Mar 27, 2012 12:44
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Residency Evil posted:Cross postin' this from AI since it might be a better fit here? If you're in no hurry and find a car that you would be happy with let them know you're a serious buyer at $XX,XXX and walk if they can't meet the price. Don't pay more than you want to. Leave the sales person/manager your information and tell them to call you if they can meet your price. I assume you don't need a car immediately so if there is no urgency hold out until you find something you like at the price you want to pay.
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Mar 27, 2012 15:23
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dreesemonkey posted:If you're in no hurry and find a car that you would be happy with let them know you're a serious buyer at $XX,XXX and walk if they can't meet the price. Don't pay more than you want to. Leave the sales person/manager your information and tell them to call you if they can meet your price. I guess my question is whether expecting to pay the PP price from a dealer is unreasonable for some reason. Would doing something like the Rizzo method work for a used car?
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Mar 27, 2012 16:04
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Residency Evil posted:I guess my question is whether expecting to pay the PP price from a dealer is unreasonable for some reason. Would doing something like the Rizzo method work for a used car? If you're serious and make a firm offer, they can only say no. I got my wife's Matrix for the trade-in price by offering $500 below that amount, and letting them work me up a few hundred bucks. Dealerships never pay more than they have to for a car, so if they aren't willing to play ball you can find another car. This depends on the dealer. I couldn't get another dealer to budge on the price of a used Corolla that needed a few hundred dollars in dents to be pulled out. I thanked them for their time, but walked out and did not come back.
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Mar 27, 2012 17:48
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Residency Evil posted:I guess my question is whether expecting to pay the PP price from a dealer is unreasonable for some reason. Would doing something like the Rizzo method work for a used car? For a GTI? Offer PP and if they turn their nose at you inform them that you're buying a sporty car when gas is expected to hit well over $5 a gallon. The dealer should understand this.
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Mar 27, 2012 19:32
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I have an idiot check question about the whole finance/cash debate for a car. I understand that if you can earn a higher rate of return than the interest level that you should consider financing. This logic makes sense if all things are equal, and you are buying the same car from the same dealer. But I'm primarily looking at private sale used cars in the ~$30k range, where from a dealer (where I might consider financing) the price would immediately be $3k more. This means buying from a dealer and financing would need to beat the interest rate + $3k at the end of 3 years which seems pretty tough. Is there something I'm missing? Any other downsides to handing over $30k in cash? I'm specifically looking at ~3 year old BMWs, and my last 3 cars have all been 7-10 year old private party BMWs so I'm quite comfortable with the maintenance and repairs costs for these things. Also after I sell my current car, it would really be closer to an $18k purchase. I'm leaning towards going private party route and paying with cash because it is the cheapest, but I've never spent over $15k on a car before this.
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Mar 27, 2012 23:51
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As long as spending that much cash won't cause you any liquidity or emergency buffer problems or cut into your long-term savings goals, then there's not really a problem with it. It just comes down to your own situation and preferences. It's pretty easy to get financing on a private party sale, though, since in the end you're still just writing a big check to the seller (or the seller's bank if there's a lien on it still). For a car that new with such good residual value (relatively, it's still a car...), you can get some pretty awesome used car rates if you have good credit. I've got good credit, and through my credit union I was able to get a 3.5% loan on a 6 year old BMW very easily. If it were less than 3 years old I could have gotten under 3%, but of course the car itself would have cost a lot more. Might have been able to knock an extra couple tenths of a percent off if I shopped around some more, but I like doing business with my CU and they make everything so easy, so whatever. I could have paid cash, but the interest rate was so low it wasn't worth taking such a huge immediate hit to my cash stash. Plus, instead I've instead been able to plow tons of cash into my student loans at a much higher 6.8% that are now nearly paid off (under 4k to go, down from 23k 2 years ago). Once they're gone, I'll switch to drastically overpaying the car note and get it paid off asap. Edit: Let me guess, 335i?
Guinness fucked around with this message at 00:20 on Mar 28, 2012 |
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Mar 28, 2012 00:05
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Yea looking for an 09+ 335i to replace my ZHP 330i. I'm debt free and the $18k hit would be rebuilt in a few months. Right now it is just sitting in a savings account doing nothing while my 401k, IRA, and liquid savings/investments get plenty of attention. Now the wait to find the right car begins... it took 6 months of waiting to find my ZHP!
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Mar 28, 2012 00:57
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