Buying A Car

[redandwhite]

I am going to be buying a car, and dont know as much as I'd like to about cars in general.

 

All I really know is, I have a $15,000 dollar limit, and I need a sedan type car with top of the line gas mileage.

 

Should I be used? Should I buy new? At a Dealership? With a private seller? How's Carmax? What type of cars should I be looking at?

 

I'm kind of partial to Nissan Maxima's, but have heard that Toyota Corolla's get excellent gas mileage.

 

Any suggestions are appreciated.

[Goldmember]

I am going to be buying a car, and dont know as much as I'd like to about cars in general.

 

All I really know is, I have a $15,000 dollar limit, and I need a sedan type car with top of the line gas mileage.

 

Should I be used? Should I buy new? At a Dealership? With a private seller? How's Carmax? What type of cars should I be looking at?

 

I'm kind of partial to Nissan Maxima's, but have heard that Toyota Corolla's get excellent gas mileage.

 

Any suggestions are appreciated.

 

corolla was my first car. thing was my baby and ran forever. of course that was years ago and it was even older still ('91) so don't know how well those have evolved. i really haven't heard anything bad about any of the japanese imports. with your limit you will almost definitely be looking at a used. and i would try to get something with a good warranty--possibly something with some of the factory warranty left...

[LosMediasBlancas]

"Should I be used?"

 

I'm sure you can get a good deal without getting used.

[Balta1701]

corolla was my first car. thing was my baby and ran forever. of course that was years ago and it was even older still ('91) so don't know how well those have evolved. i really haven't heard anything bad about any of the japanese imports. with your limit you will almost definitely be looking at a used. and i would try to get something with a good warranty--possibly something with some of the factory warranty left...

Depending on how good of a dealer you are you might be able to pull off a new corolla for $15k, also depending on how loaded you want the vehicle.

 

It's worth noting that something like 90% of the Corollas sold in the last 20 years are still on the road, and you're probably talking about 35 mpg highway.

 

I'm considering that as one of the options I might buy/lease here in a few months, but I'm waiting to make sure no one bombs Iran first.

[StrangeSox]

I would buy a used car, a few years old, maybe coming off a lease. Let someone else absorb that massive deprectiation hit from driving a new car off the lot.

[fattyguy78]

carmax has been amazing to me, i have bought 3 cars from there already, i love them, always warranties and no haggling, just tell them you wanna look when you walk in and they will leave you alone, then you come get them when you wanna see a car

[santo=dorf]

QUOTE(StrangeSox @ Jul 17, 2006 -> 02:37 PM) <{POST_SNAPBACK}>

I would buy a used car, a few years old, maybe coming off a lease. Let someone else absorb that massive deprectiation hit from driving a new car off the lot.

...not to mention insurance is higher on new cars.

[smalls2598]

I would suggest poking around at www.edmunds.com; I gathered a ton of info from that site when i bought my car 3 years ago. In fact, i still use it a few times a week to get info on new cars.

 

the site allows you to do research on the type of car you are looking for (coupe, sedan, convertable, etc), or by the price range, or just by Make. There are also a bunch of articles on what to look for when searching for a car, how to avoid getting raped in APR (in other words, go to your bank instead of having the dealership finance it for you), and even calculator tools to determine approx how much you payments will be per month, and TONS more.

 

give it a try!

[nitetrain8601]

I would suggest poking around at www.edmunds.com; I gathered a ton of info from that site when i bought my car 3 years ago. In fact, i still use it a few times a week to get info on new cars.

 

the site allows you to do research on the type of car you are looking for (coupe, sedan, convertable, etc), or by the price range, or just by Make. There are also a bunch of articles on what to look for when searching for a car, how to avoid getting raped in APR (in other words, go to your bank instead of having the dealership finance it for you), and even calculator tools to determine approx how much you payments will be per month, and TONS more.

 

give it a try!

 

I was just going to suggest the site. It really gives you everything you need to know before you buy a car.

[NUKE_CLEVELAND]

If you decide to finance make sure they don't try to screw you on your interest rate. Last time I went to finance they tried to tell me with a straight face that the best rate I could get was 12.9%. ( My credit score is 792 ) I looked at him and I laughed right in his face. After telling him I had already secured financing at less than half that rate they came back and said "Oh well we just looked again and you can get 6.3%". Too late jackass, you just lost my business.

[Soxy]

Wanted to add another Corolla love story. It was deciding between that and the Civic, very similar cars, but the corolla is sooo much cheaper. I get awesome gas mileage (close to 40mpg on the highway), I actually get a little irked when I do all in-town driving an only get 31 or 32 mpg.

 

Anyway, I've had mine for about a year and a half (2005), and I love it. You could also probably get a steal on an 06 right now.

 

I financed through the dealer and got a low rate, but I also went to a pretty well known and respected dealer, so that may be a big factor.

 

good luck!

[Rex Kickass]

You can get a Scion for under 15K. The nice thing about Scion is that they aren't allowed to haggle, your credit score determines your loan and that's that. If you have something to trade in, you could conceivably get your loan under 10 or 12.

[santo=dorf]

Get a loan through your local bank or credit union and have on of your parents co-sign it with you.

 

When I was trying to get my Corvette a few months ago, the dealership wouldn't do a loan (and I think it was an outrageous 11%) even though I had a great credit score.

 

My mom always latched onto my accounts, and even though I had a credit card and paid it off on time, I still didn't have much credit.

[nitetrain8601]

Get a loan through your local bank or credit union and have on of your parents co-sign it with you.

 

When I was trying to get my Corvette a few months ago, the dealership wouldn't do a loan (and I think it was an outrageous 11%) even though I had a great credit score.

 

My mom always latched onto my accounts, and even though I had a credit card and paid it off on time, I still didn't have much credit.

 

Sometimes co-signers are not an option. I know my mom wouldn't even think about cosigning anything. Heck, she wouldn't even cosign a school loan for me.

 

Also, try out e-loan guys, from what I've heard, it's nothing but good news.

[jackie hayes]

Maxima and Corolla are two different ballgames. If you decided you wanted a Maxima, you'd have to go used to get under 15. And you'd probably be very close to your limit, unless you were buying a junker Maxima.

 

Personally, I'd say go used on a Corolla and pocket the rest. Be careful, take the car to a good mechanic before buying if it's a private seller, do a lot of research on price, etc etc etc, but it's so much cheaper, and those suckers last forever anyway. Jmho. I've only owned one car, and I bought it new b/c I was paranoid about it falling apart. I wish I would have just saved myself $5k or so.

[SoxFanForever]

Maxima and Corolla are two different ballgames. If you decided you wanted a Maxima, you'd have to go used to get under 15. And you'd probably be very close to your limit, unless you were buying a junker Maxima.

 

Personally, I'd say go used on a Corolla and pocket the rest. Be careful, take the car to a good mechanic before buying if it's a private seller, do a lot of research on price, etc etc etc, but it's so much cheaper, and those suckers last forever anyway. Jmho. I've only owned one car, and I bought it new b/c I was paranoid about it falling apart. I wish I would have just saved myself $5k or so.

Agree with Jackie here. My Dad drove a 1995 Corrola for about 9 years and then he gave it to me to drive while I was down at college for part of my senior year last year. I drove that car a ton when I was dating a girl 40 miles away and put tons of miles on it. Long story short, I finally decided to trade in the Toyota because I just wanted something new. When I traded in the car it had 226,000+ miles on it and still ran fairly decent. Although it was a great and reliable car I am enjoying my RSX just a little bit more.

[Rex Hudler]

As others have suggested, I'd go used. Buy a quality car about 3-4 yrs old with reasonable mileage (not over 50k). You can get more car for your money and if you buy a reliable car, repairs much of an issue. You can also negotiate an extended warranty (I know the naysayers say they aren't a great "deal") to 100k miles. That can give you a bit more peace of mind.

 

In 2001, I bought a 1998 Lexus ES300 for less than what my girlfriend paid for a 2001 Accord LX. Be patient and shop around. Find a local used car deal that specializes in nice used cars. You can probably find some that sell at or near wholesale.

 

Places like Carmax are good for those that don't like to haggle and do a lot of research. They back the cars they sell and offer a reasonable price. But with a little work, better prices can be had. Sometimes much better prices.

 

Sites like the aforementioned edmunds.com and also kbb.com (Kelly Blue Book) can be very helpful.

 

The best advice I can give is:

 

1. Have a game plan before you ever talk to a sales person. If you want to just browse, do just that and don't fall into letting the sales person lead you. Give them little or no info at first.

2. Never tell them how much of a monthly payment you can afford. My first car (I call my idiot purchase), I bought a new Accord and told them I could afford $300 a month. I didn't pay attention to the other "numbers". After I signed the papers and took delivery, I found that they financed me at a high interest rate for 66 months, not 60 to get the payment to $306. Fortunately, with a little guidance, I realized my mistake and refinance at the local credit union less than a week later, for 60 months and about 2-3% less on the interest rate. Always focus on getting the best purchase price you can, not the rate or the payment.

3. Do not be afraid to walk away. Never buy into the pitch that "this offer is good today only". That's horses***. If a dealer wants to sell a car, you can negotiate the right price anytime as long as he has the inventory.

4. Go to multiple dealerships to get a feel for how they treat you.

5. Be patient and don't feel like you have to jump into anything. Before you make a final decision, run the numbers buy someone you know that has experience in buying cars. It never hurts to get a 2nd opinion. It will make you feel more at ease once the purchase is complete.

6. Be patient. I think I mentioned that, didn't I?

[jackie hayes]

As others have suggested, I'd go used. Buy a quality car about 3-4 yrs old with reasonable mileage (not over 50k). You can get more car for your money and if you buy a reliable car, repairs much of an issue. You can also negotiate an extended warranty (I know the naysayers say they aren't a great "deal") to 100k miles. That can give you a bit more peace of mind.

 

In 2001, I bought a 1998 Lexus ES300 for less than what my girlfriend paid for a 2001 Accord LX. Be patient and shop around. Find a local used car deal that specializes in nice used cars. You can probably find some that sell at or near wholesale.

 

Places like Carmax are good for those that don't like to haggle and do a lot of research. They back the cars they sell and offer a reasonable price. But with a little work, better prices can be had. Sometimes much better prices.

 

Sites like the aforementioned edmunds.com and also kbb.com (Kelly Blue Book) can be very helpful.

 

The best advice I can give is:

 

1. Have a game plan before you ever talk to a sales person. If you want to just browse, do just that and don't fall into letting the sales person lead you. Give them little or no info at first.

2. Never tell them how much of a monthly payment you can afford. My first car (I call my idiot purchase), I bought a new Accord and told them I could afford $300 a month. I didn't pay attention to the other "numbers". After I signed the papers and took delivery, I found that they financed me at a high interest rate for 66 months, not 60 to get the payment to $306. Fortunately, with a little guidance, I realized my mistake and refinance at the local credit union less than a week later, for 60 months and about 2-3% less on the interest rate. Always focus on getting the best purchase price you can, not the rate or the payment.

3. Do not be afraid to walk away. Never buy into the pitch that "this offer is good today only". That's horses***. If a dealer wants to sell a car, you can negotiate the right price anytime as long as he has the inventory.

4. Go to multiple dealerships to get a feel for how they treat you.

5. Be patient and don't feel like you have to jump into anything. Before you make a final decision, run the numbers buy someone you know that has experience in buying cars. It never hurts to get a 2nd opinion. It will make you feel more at ease once the purchase is complete.

6. Be patient. I think I mentioned that, didn't I?

ALL that. That's all great advice.

 

Let me add a small thing; don't sign ANYTHING until you're buying the damn car. I had a dealer ask me to sign something as soon as I walked in. He told me, Oh, it's just something saying that you will buy today if the offer is good enough, so that he 'could get me the best deal'. I told him that was one of the stupidest things I'd heard in my life. And as I tried to read it, he kept trying to get me to sign it quickly. At that point, I knew there was not a chance in hell I'd ever buy from him. The point is simply, they aren't all so bad, but there are some as awful as anything you've heard. Don't trust them at all, and be combative.

[Balta1701]

One other option I've been considering personally is trying to get a decent deal on leasing a new car, maybe along the lines of a Corolla even. Why? Couple of reasons...yeah it's not hugely smart financially if you want a car for long term, but if you're sort of thinking that either your financial situation might improve within a few years (mine should do so significantly) or the quality of vehicles could improve significantly within a few years, it could be a way to have a vehicle now and be able to upgrade in a few years.

 

I for one have heard some rumors about the next generation of hybrid vehicles being significantly better than this generation, to the tune of maybe an additional 30 MPG over the current hybrids. Those might be on the road as early as 08, if not, probably by 09.

[CanOfCorn]

Best advice I ever got...be prepared to walk. If it's not what you want...leave. One of two things will happen, the salesman will make the deal...or they won't and you go somewhere else where they can...

 

 

Within reason of course.

[NorthSideSox72]

A recently used car, if bought from a dealer with a certification program and warranty on it, is a good way to go in that price range.

 

In my experience of vehicles where I have more than rumor/media information...

 

Brands I (and those close to me) have done well with:

Toyota

Subaru

Saturn

Infiniti

Lexus

 

Brands not so good:

BMW

Alfa Romeo

Chevy

Ford

[SoxFanForever]

A recently used car, if bought from a dealer with a certification program and warranty on it, is a good way to go in that price range.

 

In my experience of vehicles where I have more than rumor/media information...

 

Brands I (and those close to me) have done well with:

Toyota

Subaru

Saturn

Infiniti

Lexus

 

Brands not so good:

BMW

Alfa Romeo

Chevy

Ford

I'd go a step further with that list.

 

Brands to trust/reliable:

Toyota/Scion

Honda/Acura

Nissan

Lexus

Infiniti

Subaru to some extent as well

 

Bad/not very reliable:

BMW

Mercedes (lately)

Ford

Chevy

Pontiac/GMC

Most American cars.

[NUKE_CLEVELAND]

I'd go a step further with that list.

 

Brands to trust/reliable:

Toyota/Scion

Honda/Acura

Nissan

Lexus

Infiniti

Subaru to some extent as well

 

Bad/not very reliable:

Ford

 

 

Ford = Fix Or Repair Daily

 

 

Id like to submit Chrysler models to the reliable list also. Ive owned 3 different Dodge or Jeep vehicles in my driving days and they all have performed very well.

[EvilMonkey]

I'd go a step further with that list.

 

Brands to trust/reliable:

Toyota/Scion

Honda/Acura

Nissan

Lexus

Infiniti

Subaru to some extent as well

 

Bad/not very reliable:

 

Ford - owned a 1995 Tbird that i put 174,000 miles on with only an alternator as the major repair needed. I bought it used with 40,000 on it. Just traded it in 3 weeks ago because the v8 gas milage was killing me.

 

Chevy - owned a 1992 Cavileir that I put 135,000 miles on until I sold it to a friend, who put another 60,000 on it before he wrapped it around a tree. And it was a base model with a manual trans. Lots of body dents and a windshield replacement, but at least while I had it, no major repairs.

 

Pontiac/GMC - also owned a 1992 Sunbird (same time as the cav) which I put 120,000 on before I traded it in for a truck. Alternator problems at 100,000.

 

Most American cars. Had a 2001 Ranger that I put about 30,000 on until kid number 2 came along and it got traded for a minivan. also had a 2001 Dakota for work that had 40,000 on it when I bought it, and I put another 50,000 on it before I traded that on a PT Cruiser.

 

The worst used car I have had to date has been a 2001 Mitsubishi Montero Sport. 35,000 on it when bought, at about 70,000 miles, you name it, it broke. Alternator, tie rods, head gasket, electrical problems for months and it needed trans work which was the nail in the coffin. The history of the car is important, try Carfax. All of my used cards except the montereo and the dakota were bought from people I knew. The Montereo was from Carmax, of all places.

[NorthSideSox72]

Never buy an Italian or British car. There's a good piece of advice for you.