New To Buying Cars...Have Some Questions From Experienced Buyers

[TMagic]

As the thread title suggests, I don't know the first thing about buying cars.

I'm looking to get one soon though.

As of right now, I have a '97 Honda Accord. With 218,000 miles. I got it about 6 years ago.

If I had the option I would like to be able to get a new car. Just would like to really "know" my car inside and out. I never had that with this car, so it seemed harder to keep up with. I had to spend a bunch of money on it as soon as I got it. And I never knew if something was wrong, say if I heard a certain noise or it was riding a certain way.

I feel like with a new car, I would know when something wasn't right. Hearing a sound that the car never makes, or anything of that nature. I would know what work was done on it over the course of it's lifetime. So I would always know what needs to be done.

So I'll start this with a few simple questions:

What are the benefits to buying a car vs. leasing?

As in, why would one lease a car instead of buying one and vice-versa?

What are some good, reputable websites to figure out what car is the best quality?

And if you have any other suggestions or comment outside of my questions, they're more than welcome.

Thanks in advance.

[ScoobySnax]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

As far as leasing, people that do it usually want to drive it for a couple years and then lease something else (usually luxury cars). The catch with leasing, is the dealer will put a restriction on the number of miles you can drive per year (usually 12K). Then you're never finished paying it off. There will always be a note. At least with buying, you will pay it off eventually. Ideally, you'd want to buy your car because you start from scratch. No miles (well 5 in my case lol), it's easier to keep up with maintenance and most importantly, you can drive however much you want.

As far as car quality, you might want to check out a site like Consumer Reports. I don't know the exact address, but they have a magazine that gives pretty good reviews about new cars. Also, just tak a look at some of the makers' websites. They will give more details about the cars, but you'll get the unbiased opinions from CR and other sites.

When negotiating, have a price that you're willing to pay and DO NOT budge on it. Dealerships are out to screw you first and foremost. They will bombard you with added warranties that can sometimes extend your loan a full year longer than what it should be. I am speaking from experience here. I was 23 fresh out of college and had no clue how ruthless some of these guys are. All dealerships aren't like this, but keep your eyes open. Best of luck

[TMagic]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

Thanks for the input man.

I went to consumer reports, but I think you have to pay for their services.

What kind of vehicle did you end up getting? And if you don't mind me asking, how much was it, and what were you paying monthly?

I'm asking because I'm going to be 23 as you were and fresh out of college. So I'm guessing that you'd be close to the same financial situation as I am. Not having much money to work with, but still wanting a new car. But you were able to do it, so I'm curious as to how.

[legendkiller5]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

Autocheck >>>>>>> Carfax.

[TMagic]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

Autocheck >>>>>>> Carfax.

With these types of websites, do they provide EVERYTHING that has been done to a vehicle and when?

[ScoobySnax]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

Thanks for the input man.

I went to consumer reports, but I think you have to pay for their services.

What kind of vehicle did you end up getting? And if you don't mind me asking, how much was it, and what were you paying monthly?

I'm asking because I'm going to be 23 as you were and fresh out of college. So I'm guessing that you'd be close to the same financial situation as I am. Not having much money to work with, but still wanting a new car. But you were able to do it, so I'm curious as to how.

Well I had save up like $1000 throughout all of 2007 and I coupled it with my income tax return and put a down payment on a 2008 Camry SE. At the time, they ran about 25K (what I paid), and I pay a shade over $400 a month. I had no credit at the time, so if you have some built, you should get a better rate than what I ended up getting.

[ScoobySnax]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

With these types of websites, do they provide EVERYTHING that has been done to a vehicle and when?

Yep. Carfax gives you the full history if you're buying used.

[TMagic]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

Well I had save up like $1000 throughout all of 2007 and I coupled it with my income tax return and put a down payment on a 2008 Camry SE. At the time, they ran about 25K (what I paid), and I pay a shade over $400 a month. I had no credit at the time, so if you have some built, you should get a better rate than what I ended up getting.

So how much did you put down total of the 25k?

Just trying to get an idea of what I should expect to pay for a new car month to month.


Oh, and this may be a dumb question, but will you look silly if you ask the dealer to "Show me the carfax." ? I imagine saying that, and the dealer laughing at me...lol

[ScoobySnax]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

So how much did you put down total of the 25k?

Just trying to get an idea of what I should expect to pay for a new car month to month.


Oh, and this may be a dumb question, but will you look silly if you ask the dealer to "Show me the carfax." ? I imagine saying that, and the dealer laughing at me...lol

LOL, nah they shouldn't laugh at you. If you're buying new and ask, probably so I ended up putting 3K down. Over 48 months. Since I'm out of school with a good paying job, I've been able to double up on payments for the last year and I will be note-free by the end of the year.

[TMagic]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

LOL, nah they shouldn't laugh at you. If you're buying new and ask, probably so I ended up putting 3K down. Over 48 months. Since I'm out of school with a good paying job, I've been able to double up on payments for the last year and I will be note-free by the end of the year.

Which opens up a whole new discussion.

Is it normally 4 years to pay off a new car?

I could have sworn that my mom bought a brand new truck in 2000 and she just finished paying it off.

How does that work, because I just found this website to estimate your monthly payment, and it had 4 years there too.

[ScoobySnax]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

Which opens up a whole new discussion.

Is it normally 4 years to pay off a new car?

I could have sworn that my mom bought a brand new truck in 2000 and she just finished paying it off.

How does that work, because I just found this website to estimate your monthly payment, and it had 4 years there too.

The standard is usually 60 months. I've seen them go up to 72 months though. You want to pay it of in the shortest amount of time or you could be paying as much as double the cost (when factoring in interest).

LOL @ the 10 year note!

But seriously, your Mom may have asked for a few extensions for whatever reason and that can push your note out longer. Glad she's finished. I can't wait until November

[TMagic]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

LOL...That is probably the case as she had a house built in 04...So maybe that's why. That didn't seem right. lol

Now how does financing work? Is that something you do through the dealership? Or do you go to the bank, take out a loan to pay for the full price of the car, and then pay the bank off?

I really have no clue about car buying.

[ScoobySnax]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

LOL...That is probably the case as she had a house built in 04...So maybe that's why. That didn't seem right. lol

Now how does financing work? Is that something you do through the dealership? Or do you go to the bank, take out a loan to pay for the full price of the car, and then pay the bank off?

I really have no clue about car buying.

You can do it either way, I went through the dealership like a dumb ***. Go through your bank if you can.

[TMagic]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

Why was that a dumb decision?

(Sorry if I'm asking too much. I appreciate you responding.)

[p_rushing]

Re: New To Buying Cars...Have Some Questions From Experienced Buyers

Usually you have to go through the dealership to get their cash back or rebate offers. What I did is get the dealer financing, at some crazy high rate even with my great credit. Make the required 3 payments to get the dealer offers. Then I went to my credit union and got a good rate. It was still considered a new car, so I didn't have to pay the extra % on the rate for used cars they had.