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Saltin posted:Since we're being financially prudent, it makes no sense to hurry and pay off a loan that is on a note @ 1.9% APR. It's free money Actually a guaranteed 2% isn't bad at all right now. I guess borrowing isn't AS bad as if you have the money and want to take a loan anyway to invest with. But really, borrowing money just to invest is still not the best idea in the world. And 99.99% of the people who go out and borrow money for a car aren't doing it because they think they can do better in the stock market, they're doing it because they can't afford a $35,000 car.
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Feb 23, 2013 15:31
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OctaviusBeaver posted:Actually a guaranteed 2% isn't bad at all right now. I guess borrowing isn't AS bad as if you have the money and want to take a loan anyway to invest with. But really, borrowing money just to invest is still not the best idea in the world. And 99.99% of the people who go out and borrow money for a car aren't doing it because they think they can do better in the stock market, they're doing it because they can't afford a $35,000 car. I understand what you're saying but we're discussing a case where a fellow bought a BMW 335d and clearly stated he could afford it. Let's assume he can. In this case, paying off the loan quickly makes little sense, straight up. He said he was doing this too - I'm just hoping he might change his mind. Let's look at an example. Cost of car is 35k and it's at 1.9% across 5 years. You'll pay $612 a month for 60 months, $1760 of that will be interest. That's the cost of the loan. In the second example we up the payments by 33%, $814, which gets you paid ok in 44 months as opposed to 60. Interest cost is $1261. By paying the loan off 16 months sooner you've saved $500 in interest charges but you had to tie up $200 x 44 months to do it, which is $8800. Now assume you invested that $200 a month in something that was returning ~5%, which isnt a stretch (bank preferred's pay this like clockwork), and you've got over 10K in your bank account at the end of 60 months (and debt free) as opposed to being debt free at month 44 with nothing. Of course, in both examples, you still have the car! People are conditioned to be adverse to debt, which is a safe operating principal in general, but there are different types of debt. Credit Card debt is universally bad, for example. But a car loan at 1.9%, assuming you can afford the car, is a dream come true and you should be in no hurry to correct the benefits the loaner is extending to you. Saltin fucked around with this message at 21:33 on Feb 23, 2013 |
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Feb 23, 2013 21:27
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ifuckedjesus posted:Focuses are a good car but make sure you get one with the DOHC engine. For that budget any car is going to have about a million miles... Understood. So I'm going to be look at 160k miles, etc? Any particular concerns, even if the car has had good maintenance?
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Feb 24, 2013 01:49
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Saltin posted:I understand what you're saying but we're discussing a case where a fellow bought a BMW 335d and clearly stated he could afford it. Let's assume he can. In this case, paying off the loan quickly makes little sense, straight up. He said he was doing this too - I'm just hoping he might change his mind. The math is relatively easy: can your money earn more than the car loan's interest rate adjusted for risk (preferred shares still carry risk, even if the yield is high). Ignoring government issuances, all investments carry risk, whereas paying off a car loan at X% is effectively a risk-free way of earning X% (or saving X%). As Saltin said, don't shy away from incurring low-interest debt, it's how companies and governments are run; if you're smart about it there's no reason personal finances can't adhere to similar principles. That being said, when I bought my car it was either 4.99% fixed +$3500 incentive, or 0% without the incentive. The $3500 worked out to about 8% which is nonsense, so I all paid cash up front since a cash purchase included the incentive. Because I run a company that does (relatively) high-risk investing, my personal finances are all in low-risk instruments so the decision was pretty easy. It's all about opportunity cost.
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Feb 24, 2013 02:59
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A couple of questions to those who know about vehicles: First, does a diesel really last that much longer than a gasoline vehicle? I know the engine lasts longer, and there are other factors that determine how reliable a vehicle is other than the engine, but for overall longevity what can a diesel do that a gasoline can't, engine aside? I drive an F-150 now and I am thinking about getting something more fun to drive (a sports car of some sort), but I don't want to lose the ability to haul or tow. My idea is to get a diesel work truck type vehicle that will last a long time and have the hauling/towing capability, then later on buy my "zippy" daily driver and keep the truck for work type stuff. Secondly, in regards to modern day cars, are brands like Toyota and Honda still more reliable than say Chevy or Ford? I mean, don't we build Toyotas and Hondas here in the states now?
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Feb 24, 2013 05:52
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bratley posted:A couple of questions to those who know about vehicles: I think the diesel thing is part apples-to-oranges comparison (most diesels are trucks or ag equipment, their duty cycle isn't the same as a car) and mostly that VW apologists desperately grasp at even the flimsiet straw of an excuse to justify their irrational purchasing decisions. Because the diesel cycle is inherently more violent and involve greater amounts of energy and higher compression than the Otto cycle, certain parts of the diesel engine are built to these requirements. So I guess if you wanted to build a drag racing engine or use a crankshaft as a hammer or something then sure, the diesel parts are going to be "more durable". As a car engine, why would it be? Diesel engines have the same warranties as gas engines, that's like saying a .50 cal is "more durable" than a .22. The vast majority of gas engined cars that are scrapped aren't scrapped because they snapped the crankshaft or the con rods went through the block or anything where having diesel spec components would actually be useful. On a modern car those things are probably the last things that will happen, long after the rest of the car has already fully depreciated. On the other hand a diesel has a complex fuel delivery system, massive amounts of emissions equipment, DPF/urea injection, variable geometry turbochargers, all of which cost money in the first place and will require specialized equipment/knowledge to maintain. If you really have to ask then you probably don't need the capabilities of a diesel and are better off with gas. On the second question, everything I've seen indicates that the answer is "probably yes, but the difference is pretty small these days and you really shouldn't buy one car over another just because of it". For the most part your Chevy/Ford is going to be cheaper than the equivilant Toyota/Honda to begin with, especially once you count incentives, so it really doesn't matter much in the end.
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Feb 24, 2013 06:18
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I think it might have been true with the old NA motors that put out no power. Though some of that was putting out no power. Modern diesels are as complex as gassers, if not more so, so no. When it comes to trucks is might be true, but only because the motors are more related to those in medium duty trucks than in cars.
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Feb 24, 2013 06:23
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Saltin posted:I understand what you're saying but we're discussing a case where a fellow bought a BMW 335d and clearly stated he could afford it. Let's assume he can. In this case, paying off the loan quickly makes little sense, straight up. He said he was doing this too - I'm just hoping he might change his mind. This is very true. I would say pay off debt with interest rates above that which you could make on an investment (so about 5-6%). COUNTIN THE BILLIES posted:Looking at getting a new car. Want something cheap, reliable and somewhat fuel efficient right now as I will mostly only be using it to commute to work. There is a 2011 Honda Civic coupe for sale near me for about ~$13,000 with 16k miles on it. Going to shoot for paying it off in 3 years if possible. I have $3k for a down payment and also I'm a member of a credit union so my interest rate would be 2%. Also looking at a 2005 Mustang GT with 36,000 miles on it for about $14k. Reason being that the Honda Coupe just looks so boring to me.
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Feb 24, 2013 14:07
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Proposed Budget: $25-30k New or Used: New Body Style: 4 door midsize sedan How will you be using the car?: normal driving, not a long commute, mixed highway / neighborhood driving Do you prefer a luxury vehicle with all the gizmos?: I definitely want a nice radio/navigation, keyless entry is a must What aspects are most important to you?: besides the gizmos above, reliability and comfort Right now I have a 2002 Camry and I'm tired of minor things that keep doing wrong on it so I want a fresh start. I'm really just looking to replace it with an equivalent 2013 model, and to also get some nice creature comforts like keyless entry / satellite radio / navigation screen. Based on what I've seen, I'm leaning towards one of three things (all 2013 models): Toyota Camry XLE, Nissan Altima 2.5SV, Hyundai Sonata SE. Mainly looking if anyone had a strong opinion on one of these or if I'm missing a good other choice. I love the comparison on US News that gives nice pros and cons for each.
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Feb 25, 2013 00:10
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Ford Fusion and Honda Accord should be on your list. They're essentially class-leaders at this point. You might also look at the Kia Optima.
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Feb 25, 2013 01:12
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Cael - if I were in your position I would go with the Fusion in a second. All the reviews I've read give it top marks and it looks super cool to boot. For $30k you'll be able to get a VERY nicely equipped one.
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Feb 25, 2013 01:30
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Cael posted:Proposed Budget: $25-30k I guess the only thing I'll say is don't feel constrained by what the  Mainstream Media decides to categorize as a "midsize sedan". If fuel economy isn't an absolute priority, you can get a Chrysler 300 V6 with the 8 speed transmission, 8.4 inch uConnect screen, nav and satellite radio for less than $30k, or its Dodge Charger sibling for maybe slightly less. That would be my personal choice. You can also get a Ford Taurus with the 2.0l turbo engine for a similar price, which will get you better fuel economy(actually pretty close to the Fusion) in a similar sized car albeit without the V6/RWD fun. The new Hyundai Azera has an amazing interior and looks awesome inside and out, although I don't know how these are priced in the real world and they might be more money than you are willing to spend. At the other end of the scale the Buick Verano isn't much smaller than a midsize sedan, has a great interior and a quiet cabin, drives quite nicely and can be optioned with the turbo engine and a 6 speed manual if you are into that sort of thing. I think all of these cars are better than your typical Camry ans Altima in terms of comfort.EDIT: I guess I'm just a skeptic about the new Fusion and think that the press is giving them a pass in other areas like driving dynamics and fuel economy because they like the styling. I don't really care for the styling and am more partial to the new Mazda6. Throatwarbler fucked around with this message at 02:39 on Feb 25, 2013 |
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Feb 25, 2013 02:36
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Throatwarbler posted:I guess the only thing I'll say is don't feel constrained by what the I think I agree on the fusion, but have you seen it? Really pretty. I also think I agree on the buick. As for the cars listed, they'd basically be my last choices. I wouldn't buy a Sonata when there's a Kia Optima. I wouldn't buy a Camry or 2.5 Altima. Maybe a Mazda 6. If you don't plan to own out of warranty, a VW CC could leave the lot under $30k.
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Feb 25, 2013 04:12
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KYOON GRIFFEY JR posted:I was referring only to the engine. The rest of the car is good, but the 2.5 is pretty agricultural. To be honest, nobody makes a nice sounding engine in that class. I knew there was a reason to subscribe to the VW thread.  It's a never-ending goldmine.
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Feb 25, 2013 05:45
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Throatwarbler posted:I knew there was a reason to subscribe to the VW thread. This is why I only recommend VWs under warranty.
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Feb 25, 2013 06:32
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Thanks, guys. I'll add the Optima and Accord to my list of things to check out this week. I have a friend who has a new Focus and while it's nice looking I'm not as partial to Ford's audio/nav stuff. I'll probably hit up a couple places with my iphone and a cable for a test drive so I can see things in action.
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Feb 25, 2013 14:34
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Proposed Budget: 23,000ish max New or Used: Either, doesn't matter. Leaning towards new at this point Body Style: Four door preferred How will you be using the car?:I'd like to occasionally (maybe 3x a summer) tow a small (14ft) boat. I think it'd need a 2000ish lb towing capacity. Dirt roads for when I go out to my family's camp (anything but a sports car really). What aspects are most important to you? As much room (or more) than my 2009 Nissan Versa sedan. Moderate MPG (22-27). Currently I'm leaning towards a new Subaru Outback but decided to check and see what my options are. I just about own a 2009 Nissan Versa with 44k on it. I got it on the Cash for Clunkers event when I was in College so it's bare bones and I'd like to upgrade to something with Anti-lock brakes at the very least. I'd like to get some input on the finances of this as well. I just started a job making 30k a year. I have no debt other than about 1k left on my current car due to fortunate scholarship and school choice decisions. I also am living in a situation where I don't have to pay rent. I have about 6-8k for a down payment and my car should be worth about 6k on a trade in. Am I crazy for looking at a Subaru? Should I just buy a beater truck and keep the Versa since it's just about paid off? I'd like something like an Outback simply because it's a much better choice for New England weather. I'm not sure if it's a good plan to buy a used car or not at this point. It seems like you're paying a premium to buy used these days. Am I crazy and making bad life decisions (probably)? As far as rent, I live with my girlfriend and only pay utilities. If that ends, worst case scenario I could move back in with my parents I guess. E: I'm not really sure my arbitrary max budget amount would cover a brand new Subaru, but the rest of my post stands (and I'd still like to get one if it's feasible). Mr Newsman fucked around with this message at 17:08 on Feb 25, 2013 |
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Feb 25, 2013 14:36
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I get that your expenses are pretty low at the moment and your have both money saved up and something paid off to trade in but at your level of income an Outback is probably too much car (I hear you on the ABS though I live in Ontario and would want it as well in the winter). Are you just out of school? My advice is that while a fancy new car is really tempting at your age it's way more fun to not be tied down with debt. Will you ever want to rent a nicer place? Have kids? Fancy exotic vacations? Buy a place eventually? Not have to live paycheque to paycheque and have enough saved up that if you ever get laid off / fired / quit your job because it's an awful situation everything will be okay? I know it's not what you want to hear but maybe just wait a few years and save what you can?
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Feb 25, 2013 18:52
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Given your requirements, I'd say you should consider a used light duty pick up. A Mazda B-series or Ford Ranger would be great for you. You wind up with slightly more on your insurance, but you can easily go camping and haul a boat with no problems. Also since it's used, you don't necessarily have to worry about loving up the paint on your (read: the bank's) new car.
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Feb 25, 2013 20:24
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Also be careful that your GF doesn't resent you driving around in a fancy new car while she has full rent burden (assuming she is paying 100% and not her parents).
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Feb 25, 2013 22:41
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Proposed Budget: ~$6-8,000, maybe a bit more if really necessary New or Used: Used Body Style: 4 Door Sedan or Hatchback How will you be using the car?: Mostly driving in town. Maybe 80% town, 20% highway. I do live in Montana, so I will be driving in a fair amount of ice and snow. The last trip I took, I used a Honda CRV, so something that you can drive a long distance comfortably in would be ideal. Do you prefer a luxury vehicle with all the gizmos?) Considering that I currently drive a 93 Buick Lesabre with the automatic locks half broken and no AC, yes some more modern features would be nice. What aspects are most important to you? (e.g. reliability, cost of ownership/maintenance, import/domestic, MPG, size, style) Reliability and Cost of Ownership are the most important. Followed by MPG. I currently get 12 MPG. I would like something that looks sleek, but I'm not too picky. Also, I would prefer an automatic. I recently started at a 30k a year job, and the car I have been using for the last 10 years is going to another family member. I only have about $1200 left on my student loans, and my rent is currently non-existent. In a few months, I'll be moving and it will go up to about 350/month. I would like to give myself a lot of wiggle room to save money and handle any expenses that might arise. My credit union approved me for about $8000 or up to the nada.com retail price, I think. Additionally, if I buy a 2006 or newer my interest rate will be 2%, 3% otherwise. Based on what I've read thus far in this thread, I'm going to be looking at the standard Civic, Cobalt, Mazda 3, Focus sorts of cars. Of everything I have looked at thus far, I think I like the Mazda 3 or maybe a Prius the most. I haven't driven either, and I'm not even really sure if they are in my price range. Looking at nada.com or edmunds always shows them to be a bit out of reach. Is there anything else I should consider? Also, what are some good websites to use to research? I have no experience with cars really, thus far I have just been googling things.
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Feb 25, 2013 23:15
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Thanks guys. I wasn't planning on going out and picking it up tomorrow (although 0.9% apr would be pretty great), but rather giving my job a few months for me to get my first review and making sure I'm still employed // able to expand on my emergency fund and get the down payments ready. Neither of us pay rent (nor do her parents), we're just living in her grandparents old house so no worries about hard feelings or anything. I am just out of grad school, but I did the whole backpacking across Europe thing already. I am going to be gaining, approximately, an extra 450 bucks per month with my new job which combined with my current car payment and insurance would be enough to cover the increased car payment/insurance ideally. As for the truck, that was my original idea. I like having a beater but I don't miss repairs and maintenance / being concerned I'm going to break down in the middle of nowhere. But I guess if I invest about 5k into a truck it'd be in a lot better shape than the ones that I'm used to. I'll definitely reconsider all of my options.
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Feb 25, 2013 23:29
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http://seattle.craigslist.org/see/cto/3631707427.html Presuming the condition and service records claims check out, is the Canadian import aspect a red flag? From what I understand, registered in WA + WA license plate means the import process is already taken care of and not something I need to worry about, but I'm not certain.
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Feb 26, 2013 05:37
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Kefit posted:http://seattle.craigslist.org/see/cto/3631707427.html While I'm not familiar with the particulars of your state, I would definitely not assume that. This is a thing that gets thrown around in AI and other car forums occasionally because everyone wants to import the cool European or Japanese cars that aren't sold in America, and the thing that car people seem to have a massive problem wrapping their heads around is that The licensing and registration of a motor vehicle is a prerogative of the state government, while regulation of the import and export of vehicles from foreign countries, aka foreign trade, is a prerogative of the federal government, and neither government in theory has much interest in the other. I'm sure nm or someone with legal background can be more precise about it but that's basically it. There are states and juristictions where you can register and get license plates for a a top fuel dragster, or leaf blower strapped to a shopping cart , as long as it doesn't cross any borders the federal government does not care. If you import a car from another country against federal regulations, then you are a straight up dealer in contraband and loving with the feds and Homeland Security. Your state DMV issued registration and license plate won't do anything other than maybe make it easier for them to find you.
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Feb 26, 2013 06:08
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Haha, I knew importing was a pain in the rear end but I didn't know it was that hardcore. I think that's enough to make me want to not think about this car (or any others like it) further. Thanks.
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Feb 26, 2013 06:28
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Kefit posted:Haha, I knew importing was a pain in the rear end but I didn't know it was that hardcore. I think that's enough to make me want to not think about this car (or any others like it) further. Thanks. Well don't let me dissuade you of the idea just because of that, I don't know if that RSX has been properly imported or not, maybe it has? Canada for example (I'm Canadian) does have a federal program that allows one to import cars from the US(and only the US, because USA #1) legally, and as long as you pay all the fees and have your papers in order it's not a big deal. I've vaguely heard of a similar thing going the other direction, but it's not very well known simply because cars in Canada have always been(still are) much more expensive than cars in the US, and there aren't any fancy special cars sold in Canada that aren't also sold in America, so the number of people moving cars from north to south who aren't already part of some special group (dual citizens, family in Canada, etc) is miniscule.
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Feb 26, 2013 06:36
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The key is the certifications. If it has US approval (FMVSS), you're ok. Quite a few cars sold in Canada are identical to those sold in the US. Many of them have the exact same approvals as the US car. Some do not, even those that are identical -- you'd need a letter from the manufacturer stating the same. If there are any real differences between a US market car and the Canadian one, you're boned. This is far more complex and situation specific than I can get into: http://www.nhtsa.gov/cars/rules/import/ Note that having a US state title does not make a car legal.
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Feb 26, 2013 06:54
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Why is the value of the 2008 Sonata so much lower than similar model cars of the same year?
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Feb 27, 2013 00:44
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So I still haven't bought a car yet--I had to deal with all this bullshit while handling the biggest project I do at work all year, and it's been maddening. I'm going back to some of the dealers I've visited before to ask them to run my credit and see what kind of financing I can get on several cars. Some of the dealerships have high prices, though, and I'd like some more advice on negotiating (thanks photomikey)--is it kosher to make a lower offer after getting a financing quote on the list price? (Is that the only way I should be doing it?) How does the dealer processing fee factor into the negotiation process? I don't want to agree to a car I think I can only barely afford, then have a $400 kicker on top of it.
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Feb 27, 2013 03:59
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Syle187 posted:Why is the value of the 2008 Sonata so much lower than similar model cars of the same year? They aren't as desirable (obviously) and generally sold for lower prices when new. If you're asking whether there's some specific mechanical reason or something, I don't think so and there doesn't neccesarily need to have been. Lots of cars are perfectly reliable transportation but end up being unpopular because they are ugly, or have cheap/ugly interior materials, or some other thing that relatively affluent new car buyers care more about that buyers of 5 year old Hyundais.
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Feb 27, 2013 04:12
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Halloween Jack posted:So I still haven't bought a car yet--I had to deal with all this bullshit while handling the biggest project I do at work all year, and it's been maddening. I'm going back to some of the dealers I've visited before to ask them to run my credit and see what kind of financing I can get on several cars. What you should do, is get a quote on financing from a credit union (or your own bank, or both). This will give you an idea of what your credit will get you, without tipping off a dealer about exactly what you can "afford" and/or are willing to spend. Negotiate with dealers on price before discussing financing. Having said that: I think you can always decide the price isn't right and ask for a lower one. They may be peeved if they've already started writing up paperwork (and drooling) over a higher price: but until you sign the papers and pay them, you can always walk away, and you can always decide at any point that this deal isn't good enough. It's your prerogative and right as a customer and don't let any pressure tactic convince you otherwise.
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Feb 27, 2013 17:46
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Halloween Jack posted:Some of the dealerships have high prices, though, and I'd like some more advice on negotiating (thanks photomikey)--is it kosher to make a lower offer after getting a financing quote on the list price? (Is that the only way I should be doing it?) How does the dealer processing fee factor into the negotiation process? I don't want to agree to a car I think I can only barely afford, then have a $400 kicker on top of it. Mainly you need to tell them that you want to know what the "out the door pricing" is going to be, that means after all the fees, taxes, tags, titling, processing, etc that they decide to add on. So if the car is listed at $13,000 it might be $14,000 or so out the door. This varies from dealer to dealer, some have more fees than others and some have less so basically you should just be asking for the "out the door" price since that will equalize everything. Then once you figure that out, you negotiate on that price. I wouldn't even start to talk to them about financing and running your credit until you've negotiated the price of the car honestly, they can always fudge with the financing payments/lengths/rates/etc to make it seem like you're getting the car for a better price than you really are. What I ended up doing with the car I just purchased was go into my credit union and get pre-approved on a car loan for XX amount(XX being on the high end of whatever you plan to spend on a car, you don't have to use the whole amount that you are pre-approved for but its better to be pre-approved for $15k and only get a loan for $10k than to be pre-approved for $10k and then try to get a loan for $15k, they will have to re-run everything if you do that.) If you go a route similar to this, you can just negotiate with the dealer on the "out the door" price like you are paying in cash(since you already have the loan approved) and then once you settle on a price that you are satisfied with, you can explore their financing options and see if they are better than the rates you got pre-approved for. If the dealer can give you better rates/incentives/whatever for going with their financing then you can always just take that route and forget about the loan you got pre-approved or if their rates/incentives don't compare to the ones you got pre-approved for, you just mosey on over to your bank/credit union and they will cut you a check. I'm not sure if this is the best route possible, this just happens to be the method I used buying my recent car and it worked out pretty painlessly. Edit: And yes, like Leperflesh mentioned, you can walk away at any time you want. Even if you have already agreed to a price and you already had your bank/credit union cut you a check for the loan, as long as you have not signed any paperwork you can just walk away. Sure they might be annoyed about it, but that's not your problem to worry about honestly. Never give them any kind of a "deposit to hold the car" unless you are 100% sure you want to buy the car, some of these places can make it very hard/annoying to get your deposit back if you back out. Make sure to look all the paperwork over like a hawk to make sure they are no hidden fees, stuff that isn't covered(some places make you go to the DMV and do the taxes/title/license plates yourself for instance, which will cost you a good amount of $$$ that you need to be prepared for). Another thing is get copies of anything/everything that has your name on it. 100% Dundee fucked around with this message at 17:58 on Feb 27, 2013 |
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Feb 27, 2013 17:49
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Throatwarbler posted:They aren't as desirable (obviously) and generally sold for lower prices when new. If you're asking whether there's some specific mechanical reason or something, I don't think so and there doesn't neccesarily need to have been. Lots of cars are perfectly reliable transportation but end up being unpopular because they are ugly, or have cheap/ugly interior materials, or some other thing that relatively affluent new car buyers care more about that buyers of 5 year old Hyundais. ++, these fall into two categories, mechanically unreliable, and mechanically reliable but unpopular. IMHO, mechanically reliable but unpopular are the best deals out there. My last two vehicles have been a Chrysler Pacifica and a Lexus HS250h. Both discontinued by the time I bought them. Both beautiful cars that didn't catch on in the mainstream. Both of them with every available option.
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Feb 27, 2013 19:59
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I have heard that you can strike clauses you don't like in the paperwork and then sign the paperwork. So if you dont like the fees, you can strike through them then sign for remaining amount. They will, of course probably want to print a new contract but it seems like a good way to make sure you don't sign what you don't mean to and a way to push back if they're pressuring. Is that true or Internet talk?
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Feb 27, 2013 21:29
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It's true that you can strike clauses and then sign (although you should initial any changes you make to a contract too). But, there's no point signing after you strike stuff out, because they're going to push back. You should instead discuss clauses you don't want to include, and see if they're willing to sign a contract without them, or re-word, or whatever. Usually they will not be willing to do that. Don't cave in and sign a contract you don't agree with 100%, though. In many cases you'll have a choice of accepting their terms or walking. The right thing to do here if you don't accept a term is walk. So, I'd say, point out a condition, tell them you won't agree with that, give them a chance to negotiate the term, but understand your most likely result is that you'll have to take it or (literally) leave it.
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Feb 27, 2013 22:51
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100% Dundee posted:Mainly you need to tell them that you want to know what the "out the door pricing" is going to be, that means after all the fees, taxes, tags, titling, processing, etc that they decide to add on. So if the car is listed at $13,000 it might be $14,000 or so out the door. This varies from dealer to dealer, some have more fees than others and some have less so basically you should just be asking for the "out the door" price since that will equalize everything. Then once you figure that out, you negotiate on that price. I wouldn't even start to talk to them about financing and running your credit until you've negotiated the price of the car honestly, they can always fudge with the financing payments/lengths/rates/etc to make it seem like you're getting the car for a better price than you really are. What I ended up doing with the car I just purchased was go into my credit union and get pre-approved on a car loan for XX amount(XX being on the high end of whatever you plan to spend on a car, you don't have to use the whole amount that you are pre-approved for but its better to be pre-approved for $15k and only get a loan for $10k than to be pre-approved for $10k and then try to get a loan for $15k, they will have to re-run everything if you do that.) I guess this is normal, but I find it a huge, confusing pain in the rear end. Honestly, this is only my second car loan ever; the first was a fairly small loan for a private-party purchase.
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Feb 28, 2013 02:30
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Halloween Jack posted:This is where my bank (BB&T) is kind of a pain. They make car loans through branches and through dealers; their wholesale arm that lends through dealers offers the better interest rates and can't deal with me directly. Either way, they make car loans for different amounts on a case-by-case basis depending on the car, so I can't get approved for X dollars and have that to spend. I guess all I can do is ask what kind of branch loan I can get for each car I'm interested in, then use that to make my purchasing decision and see if the financing offered through the dealer and its affiliated banks is better than that, in which case, great. You might honestly just be out of luck with BB&T, I've noticed in the last couple years at least that the bigger brick and mortar type banks(BoA, TD, WellsFargo, etc) are making much, much more difficult to get loans through. For instance, none of the banks that my family uses(three different banks, BoA, WellsFargo and Cardinal Bank) where I live even have loan officers or anyone able to help you out with a loan in the actual banking locations. You have to do 100% of it over the phone or over the internet. Do you by any chance have a credit unions around you and if so, have you tried them? You don't have to go through your personal bank to get a loan, I didn't even have an account with the local credit union when they pre-approved me for my loan. It seems pretty wild to me that you cannot get approved for a loan without knowing exactly what kind of car you want since most people would presumably be getting approved for a loan prior to car shopping(and therefore have little or no knowledge of what actual car they are getting).
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Feb 28, 2013 06:31
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Any Eurogoons have experience with a high mileage first-gen Hyundai i30 1.6 CRDi? There's an '09 for sale near me for a great price with about 160,000 km/100,000 mi. I would be curious to know how it might react to me driving it 80,000 km in the next two years - all highway. Seller says he has all maintenance documentation.
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Mar 2, 2013 13:16
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Any opinions on a 2010 Honda Insight for 13,500 with 63k miles? I am going to insist on having a mechanic check the car out before I buy it if it comes to that. The seller reminded me several times that it was below blue book price. I'm going to go take a look at it later today.
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Mar 2, 2013 22:44
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Syle187 posted:Any opinions on a 2010 Honda Insight for 13,500 with 63k miles? I am going to insist on having a mechanic check the car out before I buy it if it comes to that. The seller reminded me several times that it was below blue book price. I'm going to go take a look at it later today. I hope it is quite a bit cheaper than a similar Prius, because they're not as good. Honda also has had some battery issues with their hybrids (unlike Toyota). I'd have a hard time justifying it over say a 2009 Prius.
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Mar 3, 2013 01:06
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