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Phone
Jul 30, 2005

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Don't know if this is the place, but early next year I'm looking at getting a $4500 auto loan from Coastal Federal Credit Union to buy a hatchback/wagon of some sort because I need a second car. I'm still currently in school and it's a money in->money out situation, but I'm going to be able to work more hours next semester just because it's my final semester and I only need 9 more credit hours.

Does anybody have experience with a low value auto loan for a used car? Expected terms/rate?

Thanks.

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Phone
Jul 30, 2005

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x

Phone fucked around with this message at 07:09 on Nov 5, 2017

Phone
Jul 30, 2005

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I have a Miata that is requiring more and more attention as it's about to turn over 200k and the fact that I want to track it... hard. However, I need reliable transportation that isn't a scooter from 1981 or a 1994 Miata that is desperately wanting some bucket seats put into it. I'm looking at new 2012 Mazda2s.

My financial situation isn't fantastic, but I only have student debt that I haven't started to pay back yet and I have a decent paying job for something that is part-time. I have 0 credit card debt and I've had a credit card for close to 5 years now with Bank of America. I'm planning on switching over to a credit union within a few weeks and should be able to leverage that for a loan for the car (2.79% for 48 or 60 months) or go through dealer financing if I can get .9% at 48 or 60 if my credit is good enough (a stretch). Best of all, I have positive cash flow and I am not spending money wildly as if it were going out of style.

The reason I'm looking towards a new car is because I don't have to worry what mystery problems such as timing belts splitting on the freeways and whatnot. Is there anything I'm missing outside of not being anally violated by the dealer?

Phone
Jul 30, 2005

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Well, that's somewhat of a good point; however, a lot of the B-segment cars and whatnot are holding their value extremely well which means that a 2008 Honda Fit with 60k on the clock has an asking price of $2000 off of the MSRP of a 2012 Fit. The slightly used car market isn't that great right now, and diving off into the early 00's can get some real gems but also has the gamble of the PO's care of the car and financing if it's available.

That's why I was looking towards new more than anything.

Phone
Jul 30, 2005

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This is from November:


Phone posted:
I saw this thread and checked out used Fit prices around me.

2007 Sport Manual and 109k on the clock... $9k
2007 Sport Auto and 66k on the clock... $12k
2009 Sport Auto and 38k on the clock... $18k
2008 Sport Manual and 32k on the clock... $18k
2011 Sport Auto with Navigation and 6 miles on the clock... $20k

Or you can goto Honda's website, build a 2012 Base for 15k and a Sport for 17k. I don't loving get it.



Ironically enough, cheese responded to this post.

Phone
Jul 30, 2005

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I definitely understand where you're coming from. If I was looking at BMWs or Mercedes, it'd definitely be different.

I just wanted to make sure that I'm not barking up the wrong tree when it comes to looking at financing and dealing with the dealer. I have the math and a scientific calculator, so I can probably beat their finance guy to the punch when they have to run numbers.

Phone
Jul 30, 2005

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Leperflesh posted:

Bear in mind in all this that dealer-advertised prices for used cars are hilarious markups for schmucks, not "what you actually pay". Unless you're gullible. Often also true for private-party.

And, when you buy a new car, depending on your local/state laws you may pay more in taxes than for a used car, so include that in the pricing. Also check insurance - it's often more expensive for a brand new car.

My own experience: last year, 2003 Mazda Protege3, dealer list price ~10k, I paid $8300.

Taxes in NC seem to be 3% across the board for new or used. If a title is changing hands, you pay 3%.

Protege5. That isn't a terrible price, but definitely on the higher end of things of what I've seen locally.

Phone
Jul 30, 2005

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Bought a new car even though it's not a financially smart thing to do. Gotta have that new car smell (and wheels that won't break down on me). The whole process was definitely a learning experience and I'm sure I pissed off more than a few people by asking questions about everything throughout the whole thing.

However, the one real positive thing to come out of this and a piece of advice I can give: When you're fresh out of high school and have a job, get a low limit credit card. I've had the same $600 dollar credit card from Bank of America since 2007 and this year it paid off; my monthly balances average around $2-300 and I would pay it off in full. Outside of a $400 credit card that I never use, this was able to give me a FICO score of 756 and I was almost eligible for my CU's prime rate of 2.79%, I got 2.99%. Not bad for being 23 according to everybody that I talk to.

Phone
Jul 30, 2005

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I'm not sure if the 1ZZ in the Celica is as prone to self-destructing as the same engine in the MR-S due to pre-cat issues, but you should be able to pick up a junkyard engine for peanuts. The 1ZZ is literally the 2000s Corolla engine and they put it in Corollas, Celicas, and the MR-S.

Phone
Jul 30, 2005

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The Young Marge posted:

Hello! I need a car and would gladly accept some advice. Is there any such thing as a cool-looking station wagon?

Budget?
- Up to $16k.

New or Used?
- Lightly used.

Body Style?
- 4 door, hatchback/wagon. I am totally not interested in an SUV or minivan. A hybrid would be nice, or just something with excellent gas mileage.

Special Uses/Needs/Features?
- Must easily accommodate child seats. Must be able to fit musical gear (a hatch or wagon with foldable back seats would make this much easier). I want something very efficient but with plenty of cargo space. In addition, I would like it to not look totally derpy. So, basically a mom car that doesn't look too mommish.

Mazda3 will be a fantastic choice. There's a ton of them out there in various trims and options, and they are a capable people and thing carrier.

Another excellent option would be either a first generation Honda Fit with it's magic folding seats, or spring an extra $1-2k and pick up a brand new one with the manufacturer's warranty.

Phone
Jul 30, 2005

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kimbo305 posted:

Edmunds does a very serious long term testing fleet. They typically hold on to a car for close to a year. Granted, that really doesn't get into reliability for modern cars, but it does form a real daily driving impression. Several editors with different tastes and preferences will say what they do and don't like about it, and put the car through various practical tests, like fitting a bike inside. They also track fuel economy and see how it stacks up to what's advertised.

I subscribe to the feed, even though I'm only intrigued by a couple of cars at a time.

http://blogs.insideline.com/roadtests/2012/05/our-next-long-term-cars-are-coming.html

Edmunds was key in deciding my purchase of a Mazda2, and I agree with pretty much everything they've said about the car. It's a very, very good resource about what to expect when owning a specific car that they have in their fleet.

Phone
Jul 30, 2005

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Tornado Laserfalcon posted:

Proposed Budget:10-15k
New or Used: Used
Body Style: Preferably 4-door, but pretty flexible.
How will you be using the car?: Commuting at least 50 miles roundtrip every day around Boston.
What aspects are most important to you? I'd really like something reliable that will be cheap to fix and has decent gas mileage since I'll be driving it a good deal. Aesthetics aren't important to me, but I do like the looks of Ford Fusions.

Mazda3 in either sedan or hatchback form. If you wanted to go new, they have the new Skyactiv Mazda3 which gets 38-40mpg on the freeway.

Phone
Jul 30, 2005

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You say no manuals, but I'd highly recommend a Mazda2 with a 5-speed. I've been completely happy with mine and I've had some taller friends hop in with no complaints about cabin space.

Phone
Jul 30, 2005

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Honda Fit (magic rear seats)
Mazda3 Hatchback
Mazda Protege5
Ford Focus ZX3 or ZX5 (cheaper end of the spectrum)

Phone
Jul 30, 2005

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Buy new. It's a few grand more, but you'll be more likely able to get a lower interest rate on the loan.

The used car market is kind of hosed up right now for not brand new cars. When my Miata exploded, I was looking at getting a 1st gen Honda Fit; however, people asking $15k+ for a 2007/2008 with 70k miles was absolutely ridiculous (the 2012 was $17k).

e: I'm in the US and have barely no credit history and I was able to snag 2.99% from a local CU with no real hassle at all. PenFed is offering like 1.5% on used car loans now, though.

Phone
Jul 30, 2005

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Scipio posted:

My wife and I are trying to decide between a Mazda 2, Mazda 3 sedan or a Fiesta. Right now the 2012 Mazdas have some pretty good incentives for November, and it looks like I could realistically get a 2012 2 Touring for about $15k before trade or down payment or a 3 Touring for about $17k. No pricing on the Fiesta yet, but the dealership near my house insisted that they could be competitive with the Mazda 2.

When I was comparing specs, it looks like the fuel economy on the 3 Touring can get upwards of 40 mpg highway (owner forum chat) which I think beats both the Mazda 2 or the Fiesta. All of the cars are comfortable for my wife and I, and we can fit a car seat in any of them, so we're good there. I'm a bit nervous about the cargo space in the hatchback 2 and Fiesta, but I think we'll be okay.

I guess my questions on this are:

Is there any killer feature on the Fiesta that makes it stand out over these other cars? The only thing I thought was cool was push-button start, but that's only an option on the higher end model anyway.

Is the fuel economy difference between the 2 (34 hwy) and the 3 (40+ hwy reported) compelling enough to make it worth an extra $2k?

Are there any other questions I should be asking?

If you are getting an automatic transmission, go with the Mazda3. The 1.5L in the 2 and the 1.6L in the Fiesta will feel too great with an automatic.

Phone
Jul 30, 2005

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PUSSY MASTER 007 posted:

Proposed Budget: $8-12k USD
New or Used: Used
Body Style: Sedan, Coupe, Hatchback
Location: Raleigh, NC
How will you be using the car?: Daily driving, commuting to/from work
What aspects are most important to you?: Reliability, interior (comfort, sound, smoothness of ride, etc.), fuel efficiency, maintenance costs, isn't a shitbox
Currently comparing: Honda Accord Hybrid, Acura TSX, Honda Accord, Volvo S40

Already figured out my budget, needs, etc, and have narrowed it down for the most part to two cars. I'm looking for something that's reliable and fuel efficient, but at least somewhat fun to drive (no Prius). Basically, something that I can drive for the next 5-10 years without any major problems and gets at least 25-30 mpg highway.

2005 Honda Accord Hybrid V6.

vs.

2005 Acura TSX

Both are going to run me about 9-10k. I liked driving the Accord Hybrid a lot more, but I have some concerns about reliability- I know Honda is known for being reliable, but I've read some things online about the hybrid battery failing and costing a poo poo ton to replace because it's not a common model. When I went to test drive it, the dealer had to jump the battery which I suppose is a huge red flag. He said it was the start-up battery being dead from the car being on the lot too long, and not a problem with the actual hybrid battery. I don't know too much about hybrids having never driven one, but I also know better than to trust a used car dealer. Anyone have any insight? Even if I go this route I'm a little wary about purchasing that particular car, and will see if I can find one at another lot.

The TSX I drove I liked a lot, absolutely no problems, but I just liked the way the Accord handled and accelerated a lot more, plus it's slightly more fuel efficient.


Even though I loved the Accord Hybrid, I'm thinking that I should just go with the TSX or even a regular Accord based on my experience at the dealer and the things I've read online. Or maybe there's another model out there I've completely overlooked.

Gonna blow your mind real quick...

Acura is owned by Honda. And the Acura TSX everywhere else in the world is the Honda Accord Euro.

Phone
Jul 30, 2005

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Elise, Spec Miata, Cayman S, or an NSX.

Phone
Jul 30, 2005

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In order for you to get into a 2000 Audi A4 Avant, the Reliability concern needs to be the lowest thing on the ladder. Seeing how it's the 4th thing on the most important list, it needs to drop to like 10th place to be a serious contender.

Phone
Jul 30, 2005

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Just go look at JD Power rankings every year.

Least Reliable Car Manufacturer: Volkswagen

Highest Customer Satisfaction: Volkswagen

Phone
Jul 30, 2005

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Edoraz posted:

Proposed Budget: 4k to 6k
New or Used: Used
Body Style: Coupe or Sedan is fine. No trucks or SUVs. Also, I don't like huge sedans.
How will you be using the car?: Well, I plan on driving the drat thing. It's gonna be an everyday car, with a possible chance of road trips and super long commutes.
What aspects are most important to you? I want something sporty looking, but not an actual sportscar. MPG is a gigantic factor, but I'm fine with ~20 in town. I want sleek, sexy, fun to drive, but nothing that will get me into trouble with either the law or carphiliacs. Also, I don't know how to drive a stick, but I'm willing to learn. vv

See if you fit into a 1999 or 2000 Miata. Then get handy with a wrench.

They're reliable cars and dead simple to work on.

Phone
Jul 30, 2005

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IRQ posted:

Automatic though? The shitlord boss at the dealership tried to sell me a new 2012 Mazda 3 for less than 20k (before all the other costs) but it was a manual. I can't drive stick so it was a no-go. Then he tried to sell me a new Mazda 2 - which was like driving a river barge with 1 horsepower. I can't believe anyone buy those things, especially new. Not everyone can drive stick or wants to deal with dickhead dealers.

Hi. I bought one of those river barges with a stick. It's obvious that you've never driven one because "river barge" doesn't seem to be synonymous with a 2300 lbs car with excellent handling.

I, too, think anybody who tries to sell me something that I'm not immediately familiar with is an automatic shitlord.

Phone
Jul 30, 2005

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Sole Survivor posted:

Proposed Budget: ~$20,000
New or Used: Used
Body Style: Coupe or Sedan
How will you be using the car?: Daily driver with some track fun.
What aspects are most important to you?: Good handling, a decent amount of power, and RWD preferred. Not having horrible repair costs is a secondary concern.

The number one car on my list right now is the Pontiac G8 GT, with some other cars I've looked at include the BMW 335i and 135i, and various American muscle (Charger, Mustang, etc).

C5 Z06. You might be able to snag a C6 for 20k.

Phone
Jul 30, 2005

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Halloween Jack posted:

Thanks for that advice, Photo. I'm the kind of person who gets nervous about the whole idea of haggling, but to save a few hundred bucks I can locate my balls.

Any opinions on CarMax in general? They have some 2011 Chevy Aveos for right around $11k, with mileage in the 40-50k range. I wonder if their certification process is different from what's considered standard, i.e. if it's worth what KBB says a certified pre-owned car is worth.

Not to keep going back to the well, but...





There are what looks like some great values on a couple Taurus Xs around, but that's just bigger than I want. Every day I have to parallel park on a street with a bunch of students who leave 3/4 of a car length between vehicles.

Out of this list, the Sebring, Aveo, Galant, and Focus will be unpleasant considering the other options out there.

I would stick with either the Mazda 3 or the Camry.

Phone
Jul 30, 2005

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German cars, even German cars made in Mexico, have higher repair costs on average than their domestic and Japanese counterparts. Couple this with VW's absolutely god awful A4 platform (Mk4 Jettas, Golfs, etc), and you have stuff like your window regulator making GBS threads out on you on a somewhat frequent business and the part alone costs $170. VW's Mk5 and Mk6 cars definitely have improved reliability over their 2000s era cars; however, for more than a few years VW was near the bottom of the JD Power Associates reliability index while simultaneously being near the top of the JD Power Associates customer satisfaction list. It was kind of obvious to draw the conclusion that VW owners are really enthusiastic about their unreliable cars.

Phone
Jul 30, 2005

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Rukawa posted:

I'm debating a single-owner 2008 Mustang V6 ($13,900 with low mileage). I've had a hard time find 2011+ V6s under 20k out here around Seattle. Please tell me why I should not buy this car.

Considering that you can get lucky at a Ford dealership and walk out with a 2012 Mustang GT (the one with the 5.0 V8) for $25k or less...

Phone
Jul 30, 2005

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I'll put it this way: a 2008 V6 Mustang is as good of an idea as a 1999-2006 A4 platform Volkswagen.

Phone
Jul 30, 2005

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2002-2007 Ford Focus. You can choose the body style.

Phone
Jul 30, 2005

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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.

Phone
Jul 30, 2005

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Used M3.

Phone
Jul 30, 2005

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I need some help making a future bad decision.

Current car is a 2012 Mazda2 that I financed with my Credit Union. Buying it went swimmingly, but I'm not sure what to do when I decide to flip it for something way more impractical. I take it that if I sell it to either a dealership or private party, the bank will issue the title after the money clears, right? Of course I'd be on the hook if there's a difference between the sale amount and loan remainder.

Phone
Jul 30, 2005

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Oh, 2014 Corvette.

Phone
Jul 30, 2005

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Hybrids are a fairly mature technology, but it is an increase in complexity. Just off of the top of my head what the big dollar items are: electric motor, the battery, any circuits for regenerative braking.

All of those aren't present on a normal ICE car, but it is a mature technology and warranties cover the electric drivetrain specifically for 100k miles.

Phone
Jul 30, 2005

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Because 300 ft-lbs at 2000rpm is rad?

Phone
Jul 30, 2005

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Mean Bean posted:

Proposed Budget: Decked out in options no more than 32,000ish but 26,000 would be better if we could find everything we want.
New or Used: New probably 2014 is what we will order but we are looking at the 2013's until fall when the 2014's will be released.
Body Style: 4 door or 3 door like the Veloster
How will you be using the car?: Commuter with 200 mile drives on the weekend to the beach. Married couple with no kids and no plans to have kids.
What aspects are most important to you? We need: moonroof, navigation, sporty look, back up camera, would be nice to have leather and heated seats. As much tech as possible!

We have been considering the 2014 Veloster Turbo, and the Ford Fusion Hybrid and regular gas version. I really don't know where to go on this, we want the most technology for our money but not a huge price tag. It's also difficult because we are currently living overseas so we can't test drive a lot of cars but we want to have our new car waiting for us when we come back to the states this next winter. Help!

I would say go for a 2014 Mazda6 or wait for the Skyactiv-D engines to come so you can see if you like the gas or diesel engine. The 2014 is a seriously nice car: http://mazdausa.com/MusaWeb/displayPage.action?pageParameter=modelsMain&vehicleCode=M6G

e: quick rant, why do manufactures put poo poo like HIDs on their top trim only and then make it not possible to get with a stick?

Phone
Jul 30, 2005

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2014 Mazda6

Phone
Jul 30, 2005

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Interlude posted:

My brood has grown to a wife and two kids. Sedan isn't cutting it anymore and as much as I wanted to avoid an SUV, now I think it's the best option rather than having to take two cars everywhere. Need something with AWD and a third row of seating. No god damned minivans. Looking to buy and can spend up to $45k or so, a bit flexible. I don't need to tow.

Part of me says pick something like an Acadia that's roomy without the truck-like abilities, but another part says gently caress it, get a 3/4 ton Suburban so I can run out of gas plowing my driveway. Looking seriously into the Tahoe but I'm reading that they're updating for 2014 and what's that adage about never buying right after a redesign?

A minivan that isn't one: Ford Flex.

Phone
Jul 30, 2005

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Do you have a bunch of free time?
Do you want to become a shade tree mechanic?
Is reliable transportation overrated?

If you answered "yes" to all three, go for it.

Phone
Jul 30, 2005

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PT Cruiser is a piece of poo poo of a car. If she wants a convertible and isn't opposed to stick, grab a 99-00 Mazda Miata.

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Phone
Jul 30, 2005

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I have a 2012 Mazda2, and it seems to be right up your alley. The clutch is a bit weird, at low speeds; however, it's nowhere as bad as a Subaru drivetrain.

I suggest you drive the 2 and a 3 back to back to really get a feel for both cars. I have taken my 2 on several road trips and it's been a pleasant experience each time. Other options in that range have been covered by other posters, and you should check them out. In the subcompact category, the only real contenders are the Fit and the 2.

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