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Oxford Comma posted:I need some car buying advice. Possibly, but there's no requirement that you do business with that dealership in that event. If it really is worth $2500, there will be other places selling them for that amount (or thereabouts). If there aren't any places selling it near that amount, then it's possible the KBB/Edmunds estimation is wrong.
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May 6, 2012 21:49
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Leperflesh posted:No. The opposite, actually - a dealership makes money on financing and would love to push their financing on you. Just to pile on a little more, I've paid cash for my last two cars, but I've financed them both to take advantage of various deals and offers. There's absolutely nothing wrong with taking out a loan under whatever interest rate and length the dealer gets a kickback from and then immediately requesting a payoff and sending the finance company a check for that amount. Doing it this way can save you anywhere from $500 to $3000 or more depending on what offers are out there at a given time. The only two things you need to guarantee are a) there is no prepayment penalty, and b) there is no minimum time the loan needs to be open. As long as those two conditions are met, you're getting a nifty rebate for the cost of a few days interest.
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Jul 27, 2012 21:02
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Grumpwagon posted:I agree with this, but I'd add a 3rd thing: Make sure you're not passing up on dealer cash back worth more than the financing incentives. I'm sure this varies a lot, but the only time I've seen this conflict is with "special" financing (the 0% for 48 months or whatever low interest thing they have going). If you finance at their "regular" finance rate, you can get both the dealer cash and the financing rebate.
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Jul 27, 2012 21:41
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This seems like a better thread for this question than AI. I am very close to pulling the trigger on a new car, and want to trade in my current 2005 Nissan Altima as part of the deal. For various reasons I would prefer not to sell the car privately. The car is well-maintained and perfectly mechanically sound. I live in South Texas where roads are terrible, and as such I have lots of cosmetic imperfections on the car (repaired windshield cracks, damaged fog lamps, etc.) that never made sense to replace while driving the car because it would just get cracked again in a few days or weeks. Is it worth getting this work done and replaced just before trading the car in, or will it end up net costing me more money than just trading in the car in its current condition and taking the hit from the lower trade-in value I would get?
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Oct 23, 2012 19:16
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Blorange posted:I'm essentially looking for a replacement commuter car, there's no reason to spring for extra power I'm not using. On the other hand, I'm perfectly ok with springing for convenience extras like heated seats or remote start if they're not too much more. From checking other posts, I'm going to try and check out the 2013 Accord and Focus, is there anything else I should be looking at? These midsize commuter cars are essentially interchangeable, you should test drive them all and see which one matches your personal preference best: Honda Accord Toyota Camry Nissan Altima Ford Fusion Hyundai Sonata Volkswagen Passat Also see Chevy Malibu, Mazda 6, and Kia Optima. There are very few absolute stinkers in the generic midsize commuter segment these days.
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Apr 12, 2013 15:49
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Now that we're getting toward the end of the model year, if I'm interested in buying a new car but don't need it TODAY, would it make more sense to wait until late summer when the 2014s start rolling out? Will 2013s be cheaper then, or does it really matter?
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May 16, 2013 18:37
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skipdogg posted:What car are you interested in? I've test driven 8 or 9 different models and have narrowed it down to an Altima SL or Accord EX-L. Those are, what, the #2 and #3 highest volume midsize sedans sold? I doubt there is or is going to be a scarcity of them at all, and there's at least a dozen dealerships of either variety within a couple hours drive of me.
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May 16, 2013 19:45
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So my 2013 Honda Accord got totalled by a distracted soccer mom running a red light and hitting me right on the front passenger tire. I'm looking for a commuter vehicle (I'm in south Texas). 16 miles each way to work, with 3-4x per month 250 mile roundtrips. Average 16-18k miles a year. Budget is $25-30k. The main problem is that I'm 6'5" and just barely fit in the Accord. Every sedan I've test driven either has my head brushing the roof (especially if the car has a sunroof), or my knees in the dash, even with the seat as far back and as low as possible. I'd rather not extend my budget to get a truck or an SUV I can fit in since mileage sucks and ride comfort goes way down. Any suggestions?
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May 1, 2018 18:43
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skipdogg posted:There isn't much of a mileage penalty these days with the smaller/mid size CUV's out there. Your budget allows for plenty of choices, especially if you consider lightly used. FWIW, when I wrote SUV I was thinking Tahoe/Suburban/Excursion land yacht types. I assumed that crossovers had cabins like sedans, but I'll try to check a few of those out to see if they have any more room than sedans do.
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May 1, 2018 22:14
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Dr. Gitmo Moneyson posted:You’re right about Nissan selling shittons of cars though. I think I read somewhere that the Nissan Rogue is the #1 selling non-truck vehicle right now (and #3 overall). They're up there, for sure. Month to month car sales data gets noisy because of incentives, but here's a compiled list of 2017 US vehicle sales that has the Rogue just behind the RAV4. Wouldn't be surprised to see it overtake the RAV4 this year.
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Jun 9, 2018 15:30
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Deteriorata posted:I will take bad data over no data. That's not good science or logic at all.
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Jun 19, 2018 21:35
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Deteriorata posted:That's actually exactly the way science works all the time. That's absolutely not true.
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Jun 19, 2018 21:44
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Sliding doors also mean that small children won't be opening car doors at full force into adjacent cars in parking lots.
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Jul 10, 2018 19:12
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JUST MAKING CHILI posted:Except you got 2.9% with a 760-800 credit score... You could easily get sub 2% with that kind of score. When I looked a month ago, I couldn't find anything lower than 2.9 at that length outside of manufacturer financing deals.
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Jul 17, 2018 18:57
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JUST MAKING CHILI posted:Hmm, looks like everything has gone up in the last 12 months. Did you check with any credit unions? The 2.9 I got was from a credit union. Banks are at least a point to point and a half above that for anything longer than 36 months.
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Jul 17, 2018 20:09
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Deteriorata posted:You're right. I was writing too fast and got to thinking about new cars we'd bought. I will correct it. 0% (or 0.9%, or any rate below current market) rates are driven by the manufacturer, not the dealer. The manufacturer is subsidizing the car loan in order to make the sale. The dealer cannot offer below market rates by themselves. Special financing information is readily available on the internet - it's pretty easy to know ahead of time whether the car you want to buy will have available special financing. This financing may not be available on all models from a particular manufacturer, since it's usually targeted at a particular model or segment to boost their sales. Besides this, there are incentives that may be available (GM does this routinely), so that GM will lower the price of your vehicle in return for non-special financing (i.e the regular rate). In my case, GM dropped the price of my car $2000 (actually more, since I paid less sales tax because the price was lower) to get me on 5.8% financing, which I kept for the required 90 days, then refinanced into credit union 2.9% financing. I ended up paying a hundred or so dollars of extra interest over those three months, well worth it to get an out the door price $2165 lower. It's been my experience that the best way to go about this is to get pre-approved credit union financing at the best rate you can get, walk in with that as a fallback, and see what the dealer can do. In the above cases, the dealer gets a kickback from the manufacturer for any incentives, plus additional money for getting a buyer on manufacturer financing, so there's zero incentive from any good dealer to keep any deals from you.
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Jul 19, 2018 16:55
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KYOON GRIFFEY JR posted:Yes, the manufacturer subsidized rate is almost without exception in lieu of cash on the hood. Do the math and figure out which one is a better deal. My sample size is pretty small, but during my recent car buying experience nearly every place I went to had some sort of financing incentive that was separate from the actual car buying incentives. It sometimes took several questions to figure out which were attached to buying the car at all, and which were tied to financing it through them. I know some of the posters recently were stressing low-effort buying experiences, but that has the real potential of leaving several thousand dollars on the table.
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Jul 19, 2018 20:11
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logis posted:Nearing purchasing a vehicle. Got (what I think?) is a good out-the-door price on a Mazda CX-5 Touring. Last things to decide: Beige is worth about 15 degrees F over black in the summertime if your car sits in the sun more than about 90 minutes at a time. That also means less effort from your air conditioner.
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Jul 21, 2018 20:14
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Cascadia Pirate posted:We've owned a CX-5 fo almostr five years and it has been excellent. Gets great mileage, a joy to drive, and fits three car seats in the back. We have to sell it to get a three row car and my wife is miserable about it. Happy to answer any questions (or sell you mine if you're in the area). The the CX-9 not work for her? Seems a natural fit given she loves the CX-5.
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Aug 16, 2018 21:55
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SciFiDownBeat posted:Does this apply to any other brands? Any Ford/Chevy/Dodge full-size pickup truck is like this.
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Aug 23, 2018 16:27
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big crush on Chad OMG posted:I do the same. I think it’s all in how you present yourself. Generally I’ve had the last 6 or so car purchases go smoothly by being very direct - “I want this car, these options, I’m ready to buy when the car is on the lot. What’s the final price?” I'm finding it really really hard to get results doing this. New car dealerships are the laziest bunch of mouthbreathers on the planet. Even making repeated phone calls and emails, I still haven't gotten any offer at all from a good half of the dealerships I've contacted. I'm starting to wonder if dealerships give a poo poo about people they're very unlikely to fleece.
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Sep 7, 2018 18:13
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You can also find the car yourself (most dealers have their inventory online). If you find one at a higher volume dealer you can probably get it cheaper that way too.
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Oct 18, 2018 18:48
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All of the aggregators are pretty bad. Sorry to say but the best way is to make a list of all the appropriate dealers in your area and check their websites one by one. My experience is that most have a good picture of their own inventory but really bad pictures of everyone else's.
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Nov 9, 2018 11:11
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I may be trading in a Honda Pilot in the next few months to get into something smaller. The SUV has glass damage that probably can't be patched. Is it more cost-effective to replace the windshield myself and hope for a higher trade-in, or just detail it the best I can and let the dealership worry about the glass?
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Feb 4, 2020 23:57
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My insurer lumps non-trivial glass claims into comprehensive, which for me has a $500 deductible.
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Feb 5, 2020 22:06
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KYOON GRIFFEY JR posted:I would in general hold off on buying a used car right now in the midst of COVID nonsense, especially since you do not need one. Don't take on cost you don't need to, and actually buying a car is going to be an ungodly pain in the rear end. Can you go into this a little more? I'm in the market for a 2018ish used car, and would be great to know if I'd be better off waiting.
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Apr 3, 2020 20:54
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KYOON GRIFFEY JR posted:are you buying a car because you need a car or because you want a car? be very judicious about this, most people say the former but they really mean the latter. if it's the latter, I would recommend no for the following reasons: Oh, it's a I want, not a need. I will not be losing my income at any point in this crisis. I have an SUV and would like to transition down to a sedan to lower payments and focus that money elsewhere. I do work from home but don't expect that to last beyond the summer, when I expect to be driving on average about 20k miles a year again. I have credit union financing in place already, and a couple of dealerships I've called advertise that they'll do everything except the actual final signing over the internet to maximize distancing. It isn't super critical to do this in the next 60 days, though. What insane deals are coming? I see April financing deals on new cars and what I've seen is 0% financing and 1500 cash back (some not even that), which seems to make new OTD prices ~$4-6k higher than 2018 prices of the same model. What should I be waiting for?
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Apr 5, 2020 20:47
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Motronic posted:Wow.....so, here's the thing. Maybe you get a deal on something, but have you considered how poor your trade in value is going to be in a reality where nobody is moving cars? That's one reason for me *not* to wait, since I've got a couple 30-day offers still valid to buy the trade-in vehicle (one local dealership and a Carvana offer) even if I don't buy its replacement from them. After those expire, I don't know.
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Apr 5, 2020 21:06
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KYOON GRIFFEY JR posted:I'm not sure what kind of relief floor plan financers are offering to dealers - maybe there's something, but the bank has got to make money too. Even if the interest is cut to zero, the dealer needs the cash now to pay other bills. Cash flow is half of pre-COVID (roughly) and you can't cut that many operating costs. I think in mid-April if you walk in to a dealership and you offer to take the car off their hands for full incentives and holdback they'll say yes. You might even get them to take a small true loss on the car just to get cash out of it. Thanks for this. I emailed my dealership contacts this morning and they said the offers were still valid, but only as trade-ins, not outright purchases. That makes sense to me.
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Apr 6, 2020 16:22
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Throatwarbler posted:Maybe that was true back in the bad old days but Chrysler owns them now. Lol that's not a positive.
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Apr 21, 2020 19:34
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"This is what I think the car's worth. If you can't match that price, I'm off to the guy down the street/across town."
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Jun 28, 2020 19:24
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I've had decent success telling the dealership "I have credit union financing at x% for y months already, but I'm willing to fill out an app with you guys if it makes sense for me". It'll be another hard pull on your credit, but depending on how much they lower the price, it might be worth it.
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Jul 10, 2020 19:15
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Debt is like electricity - handled improperly it can do a lot of damage, but if used wisely, can make your life a lot better.
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Oct 30, 2020 15:40
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Yeah, Penfed's customer service is horrific, but their rates are often better than anyone else's.
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Dec 29, 2020 14:54
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Yeah, the mega-CU around here is at 2.19% all the way up to 66 months (I don't personally recommend car loans that long but YMMV). You should be able to shop around and get somewhere close to those rates.
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Dec 29, 2020 17:20
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