Buying First Car

[StageLeft]

Originally posted by: mizzou
i don't know man, new cars can be a great deal, especially maintenance wise. You know what you get yourself into on the initial purchase and typically it doesn't hurt much down the road.

On a used car, it's the opposite. You don't hurt much on the initial purchase but down the road you don't know what the expect.

Keep repeating it. It's attitudes like that that allow people like me to buy a 2-3 year old car for 60% what you paid for it new and drive it for years to come with very few repairs laughing all the way to the bank

All but the sh*tiest cars on the road have very long lifespans now, 100k being very reasonable to attain without any major repairs at all. 35k miles can slash the value of the car at the dealer but leave you with tons of life left, especially if it's certified with extra manufacturer's warranty on it. Then you really have no excuse to buy used except in very rare circumstances like the MB above at .9%.

 

[PhoKingGuy]

Originally posted by: fleabag

Originally posted by: DigDug
I wish I had the knowledge about buying a car like I do with computers. I really don't want to be the car buying equivalent of someone who goes to Staples to buy a computer. But I have no idea what the best way to scope for a good deal is.

In this down economy, buying a new car seems like a more viable option than ever given the incentives.

1. How much should I put down?

2. Should I buy all cash or use financing? I hear that the trick is to agree to financing so that the dealer will get a kickback from the finance company and therefore can give me a better price, but I should make sure there's no pre-payment penalty and then pay off shortly after purchase.

3. What are considered good deals in the world of cars? Honda, Toyota?

4. Whats the best way to go about buying a used car? I see Carfax commercials on TV.

This is going to be the biggest purchase I've ever made, and I'm scared!

How much time have you spent on this? If this is your first car ever and you really are as scared as you say you are, I'd spend at least 6 months researching it. I still haven't purchased my first car but part of that reason isn't related to me being scared but because of other issues. I first started looking at purchasing a car back in Mar 2008 and within that time, I've changed my decision on the car I wanted multiple times which in turn has made my confidence in my current desire for a car that much higher compared to when I first decided that I wanted to buy a particular car.

edit: after reading your other posts, if you mean what you say in that you just need cheap transportation, might I suggest a 2000-2002 Chevrolet Prizm? These cars are basically corollas except much cheaper. They're literally the same car aside from a few cosmetic differences and better stereo system in the Prizm. These cars can be had for around $3000 and should not only get good gas mileage, but should be as reliable as any Toyota because it's basically a Toyota, without the badge and price.

What happened to your lexus/volvo/whatever else you said you had. Or were you talking about your parents cars the whole time?

You really are like 16 arent you

 

[Bignate603]

Originally posted by: DigDug
Thanks for you help, Marlin and all...

I have about $10k in cash (apart from other savings), but I just lost my job and simply need transportation as my wife (newly married) is using the one car we have (and which she brought into the marriage). I've commuted to NY thus far so I didn't need a car, but doubt I will be able to get another job in NYC. I'm currently sitting at home like a home-bound teenager going mad, hence the need for such a purchase at such an inopportune time. I want to buy an economical car, even a KIA. Just something to get me around, thats extremely cheap but will have a nice 100,000/10-year type of warranty on it - it was for this reason that I thought new, but I was told that certified-preowned will have such warranties still on them. Do you have recommendation on brands? I really appreciate all the help I can get. I'm not a non-savvy consumer in general, its just that I've never had to even think of purchasing a car.

Sounds like a used car may be better. You can easily get a $5k used car that will run without problems for quite some time and keep the change to help you get by until you get another job.

 

[Bignate603]

Originally posted by: fleabag
How much time have you spent on this? If this is your first car ever and you really are as scared as you say you are, I'd spend at least 6 months researching it. I still haven't purchased my first car but part of that reason isn't related to me being scared but because of other issues. I first started looking at purchasing a car back in Mar 2008 and within that time, I've changed my decision on the car I wanted multiple times which in turn has made my confidence in my current desire for a car that much higher compared to when I first decided that I wanted to buy a particular car.

Any adult that needs a car can't wait 6 months to get a car if they need it to find a job.

Originally posted by: PhoKingGuy
What happened to your lexus/volvo/whatever else you said you had. Or were you talking about your parents cars the whole time?

You really are like 16 arent you

I think its pretty clear that those are his parent's cars.

 

[PhoKingGuy]

Look for a used maxima/I30 from 1999-2003ish I think, before they got ugly. The things are bulletproof. My I30 has needed a CV book replacement, brakes and an O2 sensor since i've had it, about 100k miles of trouble free driving.

 

[Arkaign]

Originally posted by: zerocool84
Look at a Focus. They are MUCH cheaper used than a comparable Honda/Toyota and are still awesome cars. Honda/Toyota are so damn overpriced used.

I can vouch for that. Just try to limit the search to the '05+ with the Mazda Duratec motor. No timing chain to worry about, better reliability, improved power, and outstanding fuel economy FTW. As I was recently t-boned by an Altima sedan running at a pretty good clip, I can attest that they are a pretty safe little car as well.

 

[fleabag]

Originally posted by: Bignate603

Originally posted by: fleabag
How much time have you spent on this? If this is your first car ever and you really are as scared as you say you are, I'd spend at least 6 months researching it. I still haven't purchased my first car but part of that reason isn't related to me being scared but because of other issues. I first started looking at purchasing a car back in Mar 2008 and within that time, I've changed my decision on the car I wanted multiple times which in turn has made my confidence in my current desire for a car that much higher compared to when I first decided that I wanted to buy a particular car.

Any adult that needs a car can't wait 6 months to get a car if they need it to find a job.

Originally posted by: PhoKingGuy
What happened to your lexus/volvo/whatever else you said you had. Or were you talking about your parents cars the whole time?

You really are like 16 arent you

I think its pretty clear that those are his parent's cars.

Well actually one of them is my sister's car (volvo) which is owned by my parents. I don't know if you're aware but I do in fact live at home.....with my parents. As for the first part about the guy finding a job, doesn't he have unemployment? Nothing would be worse than for a person to rush buying a car, get a broken car and still be unemployed.

There are a lot of things people should be able to do quickly but when it's your first time, it's a given that it's going to take longer than you'd want it to. You could say the same thing about a person needing a car to get to work yet they don't have a driver's license, so what? Does that mean the person should be able to skip critical parts of a driving test or barely pickup the basics of learning how to drive a car because they really need to get a job? Obviously this person hates the situation but it's not a do or die situation so I wouldn't rush anything especially if it's a decision that could put them into worse shape than the started in.

 

[JulesMaximus]

Originally posted by: Skoorb

Originally posted by: mizzou
i don't know man, new cars can be a great deal, especially maintenance wise. You know what you get yourself into on the initial purchase and typically it doesn't hurt much down the road.

On a used car, it's the opposite. You don't hurt much on the initial purchase but down the road you don't know what the expect.

Keep repeating it. It's attitudes like that that allow people like me to buy a 2-3 year old car for 60% what you paid for it new and drive it for years to come with very few repairs laughing all the way to the bank

All but the sh*tiest cars on the road have very long lifespans now, 100k being very reasonable to attain without any major repairs at all. 35k miles can slash the value of the car at the dealer but leave you with tons of life left, especially if it's certified with extra manufacturer's warranty on it. Then you really have no excuse to buy used except in very rare circumstances like the MB above at .9%.

Normally I would agree with that but it is entirely possible to buy new and still make a great choice especially if you plan on keeping the car for more than 3-4 years.

I bought my Maxima new in 2003 so it is 6 years old now going on 7 next April, it is paid for, and in excellent condition mechanically and cosmetically. Buying new isn't a bad thing, especially if you can take advantage of the super low financing and rebates on new cars like I did with mine. I got almost $5k off msrp AND 1.9% financing for 5 years. Buying new made WAY more sense than buying used.

 

[JulesMaximus]

Originally posted by: Arkaign

Originally posted by: zerocool84
Look at a Focus. They are MUCH cheaper used than a comparable Honda/Toyota and are still awesome cars. Honda/Toyota are so damn overpriced used.

I can vouch for that. Just try to limit the search to the '05+ with the Mazda Duratec motor. No timing chain to worry about, better reliability, improved power, and outstanding fuel economy FTW. As I was recently t-boned by an Altima sedan running at a pretty good clip, I can attest that they are a pretty safe little car as well.

Why would anyone worry about a timing chain?

What does it have if it doesn't have a timing chain or timing belt? Gears?

 

[JulesMaximus]

Originally posted by: fleabag

Originally posted by: Bignate603

Originally posted by: fleabag
How much time have you spent on this? If this is your first car ever and you really are as scared as you say you are, I'd spend at least 6 months researching it. I still haven't purchased my first car but part of that reason isn't related to me being scared but because of other issues. I first started looking at purchasing a car back in Mar 2008 and within that time, I've changed my decision on the car I wanted multiple times which in turn has made my confidence in my current desire for a car that much higher compared to when I first decided that I wanted to buy a particular car.

Any adult that needs a car can't wait 6 months to get a car if they need it to find a job.

Originally posted by: PhoKingGuy
What happened to your lexus/volvo/whatever else you said you had. Or were you talking about your parents cars the whole time?

You really are like 16 arent you

I think its pretty clear that those are his parent's cars.

Well actually one of them is my sister's car (volvo) which is owned by my parents. I don't know if you're aware but I do in fact live at home.....with my parents. As for the first part about the guy finding a job, doesn't he have unemployment? Nothing would be worse than for a person to rush buying a car, get a broken car and still be unemployed.

There are a lot of things people should be able to do quickly but when it's your first time, it's a given that it's going to take longer than you'd want it to. You could say the same thing about a person needing a car to get to work yet they don't have a driver's license, so what? Does that mean the person should be able to skip critical parts of a driving test or barely pickup the basics of learning how to drive a car because they really need to get a job? Obviously this person hates the situation but it's not a do or die situation so I wouldn't rush anything especially if it's a decision that could put them into worse shape than the started in.

Getting a driver's license isn't hard or time consuming...but it should be. Hell, looking at half the idiots on the road on a daily basis you'd think their dog taught them how to drive.

 

[Bignate603]

Originally posted by: fleabag
There are a lot of things people should be able to do quickly but when it's your first time, it's a given that it's going to take longer than you'd want it to. You could say the same thing about a person needing a car to get to work yet they don't have a driver's license, so what? Does that mean the person should be able to skip critical parts of a driving test or barely pickup the basics of learning how to drive a car because they really need to get a job? Obviously this person hates the situation but it's not a do or die situation so I wouldn't rush anything especially if it's a decision that could put them into worse shape than the started in.

When somebody has a family to support it's pretty important to be able to pay the bills. Unemployment varies by state but it's not much. Here in my state it maxes out at $240 a week. Unless they can live without his income each week he's without a job eats away at their savings, putting him in a worse financial position the longer he waits.

He shouldn't go out and buy the first thing he sees but any reasonable adult when pressed should be able to research, test drive and purchase the car they want in a week if they are buying new.

 

[thescreensavers]

03 G35s can be had at 10k ish

 

[Arkaign]

Originally posted by: JulesMaximus

Originally posted by: Arkaign

Originally posted by: zerocool84
Look at a Focus. They are MUCH cheaper used than a comparable Honda/Toyota and are still awesome cars. Honda/Toyota are so damn overpriced used.

I can vouch for that. Just try to limit the search to the '05+ with the Mazda Duratec motor. No timing chain to worry about, better reliability, improved power, and outstanding fuel economy FTW. As I was recently t-boned by an Altima sedan running at a pretty good clip, I can attest that they are a pretty safe little car as well.

Why would anyone worry about a timing chain?

What does it have if it doesn't have a timing chain or timing belt? Gears?

whoops meant to say 'no timing belt to worry about' .. which makes maintenance a shade cheaper in the long run. When the timing belt time comes around and you can't do it yourself, it can be a hard few hundred extra bucks to come up with for some people.

lol anyway

 

[fleabag]

Originally posted by: Bignate603

Originally posted by: fleabag
There are a lot of things people should be able to do quickly but when it's your first time, it's a given that it's going to take longer than you'd want it to. You could say the same thing about a person needing a car to get to work yet they don't have a driver's license, so what? Does that mean the person should be able to skip critical parts of a driving test or barely pickup the basics of learning how to drive a car because they really need to get a job? Obviously this person hates the situation but it's not a do or die situation so I wouldn't rush anything especially if it's a decision that could put them into worse shape than the started in.

When somebody has a family to support it's pretty important to be able to pay the bills. Unemployment varies by state but it's not much. Here in my state it maxes out at $240 a week. Unless they can live without his income each week he's without a job eats away at their savings, putting him in a worse financial position the longer he waits.

He shouldn't go out and buy the first thing he sees but any reasonable adult when pressed should be able to research, test drive and purchase the car they want in a week if they are buying new.

He can't buy new, he has no business buying a new car when he is unemployed. I bet he doesn't have enough money in emergency fund, let alone enough to buy a car.

 

[Bignate603]

Originally posted by: fleabag

Originally posted by: Bignate603

Originally posted by: fleabag
There are a lot of things people should be able to do quickly but when it's your first time, it's a given that it's going to take longer than you'd want it to. You could say the same thing about a person needing a car to get to work yet they don't have a driver's license, so what? Does that mean the person should be able to skip critical parts of a driving test or barely pickup the basics of learning how to drive a car because they really need to get a job? Obviously this person hates the situation but it's not a do or die situation so I wouldn't rush anything especially if it's a decision that could put them into worse shape than the started in.

When somebody has a family to support it's pretty important to be able to pay the bills. Unemployment varies by state but it's not much. Here in my state it maxes out at $240 a week. Unless they can live without his income each week he's without a job eats away at their savings, putting him in a worse financial position the longer he waits.

He shouldn't go out and buy the first thing he sees but any reasonable adult when pressed should be able to research, test drive and purchase the car they want in a week if they are buying new.

He can't buy new, he has no business buying a new car when he is unemployed. I bet he doesn't have enough money in emergency fund, let alone enough to buy a car.

He's got $10k plus other savings which he stated in an earlier post. Sounds like he's doing ok with savings. I do think that that a cheap used car would be better but it sounds like he could get a new car if he really wanted it and was confident that he had a decent outlook for his family income. Right now with the deals on new cars there's not much point getting a car that's only a year or two old. The better financing and longer warranty on the new car is a big advantage.

 

[PlasmaBomb]

Originally posted by: yh125d

Originally posted by: JLee

Originally posted by: A5

Originally posted by: JLee

Originally posted by: yh125d
A nice low mileage fusion might be in your future. You can get an 07-08 with under 30k for quite cheap. A lot less money than a comparable accord or camry, while being a lot more fun to drive and nearly as reliable as it would seem. You don't get a 10 year/100k warranty (honestly those are fairly rare I think, and to a point unnecessary for a lot of people)


Definitely a better option than a Kia or likewise. Also, don't buy new - with just getting laid off you need to be sensible. Let someone else take the initial depreciation hit from buying a new car, and get yourself a nice low mileage used.


In your situation I would think doing partial financing would be good. Get a nice down payment (say 4k of your 10 saved) and finance the rest. That way your payment will be manageable, and you still have a nice chunk of your savings to ride out your unemployment

He just lost his job and you're recommending something "under $30k"..?

My Tundra, fresh off a 3yr lease, was just under $16k - for a guy who just needs transportation, he can probably get away with something a bit less pricey.

Under 30k miles, not 30k dollars.

/facepalm

Okay, that makes a lot more sense.

Thas aight, I read your response andbefore I fully interpreted it I was thinking "wtf? I'm berated for recommending a cheap car? This fool's gonna get his ass chewed out"


Then my brain started working again


And I was like "lul"

Everybody has bad days...

lulz.

 

[PlasmaBomb]

Originally posted by: fleabag
I do in fact live at home.....with my parents.

in the basement...

 

[satyajitmenon]

Originally posted by: PlasmaBomb

Originally posted by: fleabag
I do in fact live at home.....with my parents.

in Oldsmoboats basement...

:shocked:

My 2 cents, OP should stick to something simple like a 4 yr old Focus. Cheap, comfortable (for the price) and pretty reliable.

 

[SearchMaster]

Originally posted by: satyajitmenon

Originally posted by: PlasmaBomb

Originally posted by: fleabag
I do in fact live at home.....with my parents.

in Oldsmoboats basement...

:shocked:

My 2 cents, OP should stick to something simple like a 4 yr old Focus. Cheap, comfortable (for the price) and pretty reliable.

WWYBYWB?

 

[mwmorph]

For your 3rd question, I will recommend you the same thing I recommend anyone that needs the cheapest, most reliable point A to B basic transportation.

Get a Toyota Corolla or Geo/Chevy Prizm, they're the same car, built at the same factory (NUMMI California) with almost complete part interchangeability.

http://omaha.craigslist.org/cto/1423150709.html

 

[CurseTheSky]

It depends how much you have in other savings. Being out of work, if $10k is going to force you to make major lifestyle changes, I'd aim to spend more like $3-5k tops on a user car, and get something that you can run into the ground over the next 5 years or so. If you have enough in other savings to cover unexpected costs (medical bills, etc.) if you end up in a pinch and you're only priority is a reliable car, I'd say see what you can find for $9-10k. A used Ford Focus or Fusion is a good place to look.