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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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# ¿ Nov 7, 2011 05:17 |
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# ¿ Apr 25, 2024 17:51 |
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x
Phone fucked around with this message at 08:09 on Nov 5, 2017 |
# ¿ Nov 7, 2011 23:30 |
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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?
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# ¿ Jan 12, 2012 06:24 |
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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.
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# ¿ Jan 12, 2012 15:06 |
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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.
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# ¿ Jan 12, 2012 15:37 |
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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.
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# ¿ Jan 12, 2012 16:02 |
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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. 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.
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# ¿ Jan 13, 2012 00:07 |
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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.
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# ¿ Jan 22, 2012 00:01 |
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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.
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# ¿ Apr 21, 2012 07:48 |
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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? 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.
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# ¿ May 22, 2012 05:49 |
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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. 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.
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# ¿ May 22, 2012 15:39 |
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Tornado Laserfalcon posted:Proposed Budget:10-15k 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.
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# ¿ Jul 7, 2012 03:29 |
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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.
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# ¿ Jul 19, 2012 03:27 |
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Honda Fit (magic rear seats) Mazda3 Hatchback Mazda Protege5 Ford Focus ZX3 or ZX5 (cheaper end of the spectrum)
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# ¿ Jul 25, 2012 21:08 |
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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.
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# ¿ Nov 5, 2012 04:41 |
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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. 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.
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# ¿ Nov 9, 2012 03:51 |
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PUSSY MASTER 007 posted:Proposed Budget: $8-12k USD 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.
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# ¿ Nov 29, 2012 05:10 |
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Elise, Spec Miata, Cayman S, or an NSX.
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# ¿ Dec 26, 2012 03:21 |
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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.
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# ¿ Dec 28, 2012 05:17 |
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Just go look at JD Power rankings every year. Least Reliable Car Manufacturer: Volkswagen Highest Customer Satisfaction: Volkswagen
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# ¿ Dec 28, 2012 07:14 |
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Edoraz posted:Proposed Budget: 4k to 6k 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.
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# ¿ Jan 29, 2013 06:12 |
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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.
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# ¿ Jan 30, 2013 14:15 |
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Sole Survivor posted:Proposed Budget: ~$20,000 C5 Z06. You might be able to snag a C6 for 20k.
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# ¿ Feb 1, 2013 03:10 |
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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. 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.
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# ¿ Feb 6, 2013 05:27 |
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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.
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# ¿ Feb 8, 2013 03:57 |
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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...
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# ¿ Feb 15, 2013 05:35 |
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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.
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# ¿ Feb 15, 2013 15:52 |
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2002-2007 Ford Focus. You can choose the body style.
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# ¿ Feb 16, 2013 00:38 |
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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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Used M3.
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# ¿ Mar 3, 2013 01:45 |
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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.
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# ¿ Mar 3, 2013 02:10 |
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Oh, 2014 Corvette.
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# ¿ Mar 3, 2013 02:44 |
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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.
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# ¿ Mar 13, 2013 20:24 |
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Because 300 ft-lbs at 2000rpm is rad?
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# ¿ Mar 14, 2013 13:00 |
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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. 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?
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# ¿ Mar 16, 2013 04:11 |
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2014 Mazda6
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# ¿ Mar 19, 2013 04:45 |
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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. A minivan that isn't one: Ford Flex.
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# ¿ Mar 21, 2013 20:12 |
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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.
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# ¿ Mar 26, 2013 13:20 |
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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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# ¿ Mar 30, 2013 04:11 |
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# ¿ Apr 25, 2024 17:51 |
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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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# ¿ Apr 11, 2013 21:30 |