Buy a New Car.. Need Help Please.

[Brandon13]

Re: Buy a New Car.. Need Help Please.

I have a 2013 Hyundai Elantra and it's awesome. I have no complaints.

[Heroesandvillains]

Re: Buy a New Car.. Need Help Please.

I used to sell cars as well for a GM dealer.

Everything Jhogan said was dead on.

[bigfnjoe96]

Re: Buy a New Car.. Need Help Please.

As promised















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[Hooe]

Re: Buy a New Car.. Need Help Please.

Rather than make my own thread, I have similar questions so I'm going to pseudo-hijack this one.

I'm also in the market for a new car. Doesn't have to be factory-new, but I'm looking for an upgrade over my 250,000 miles second-engine second-transmission check-engine-light-always-on minivan.

Ideally, I want something with two doors and sporty, but also something that will be reliable. Good gas mileage is a bonus, but secondary. Good in-car audio would also be nice, but I don't really require any fancy bells and whistles beyond that.

I think I'd be a bit uneasy with a car payment over $500 a month. I have really good credit. I also have never gone car shopping in my life beyond internet window browsing, and I don't want to be taken advantage of by a smooth-talking dealer. I assume that whatever I buy, my car insurance premium is going to go up because I will be driving something better than a piece of scrap metal with four wheels and an air conditioner.

I'm working on saving money for a down payment for whatever I buy; I've got a bit over $1000 put away so far, the out-of-my-*** number I'd like to get to is $5000 but I have no idea if that much is actually necessary.

I'm thinking I'd rather buy than lease, though I could be convinced out of that if leasing is a better strategy for a 27-year-old bachelor.

Thoughts? Suggestions? Should I just go talk to a car dealer instead of the Internet lol?

Thanks in advance!

[p_rushing]

Re: Buy a New Car.. Need Help Please.

Down payment will only be required if you buy an expensive car. With good credit I don't think you would need to put any down.

I would find a good credit union near you. You can get good rates that should be lower than a dealer financing. Some of the dealer credits will require you to get financing with them for 90 days. So just check what they are offering and determine whether the cash and 90 days is better. I took the rebate/cash back as it was better than the lower rate and then at 90 days used my credit union to get a loan with a lower rate.

[Redacted01]

Re: Buy a New Car.. Need Help Please.

Rather than make my own thread, I have similar questions so I'm going to pseudo-hijack this one.

I'm also in the market for a new car. Doesn't have to be factory-new, but I'm looking for an upgrade over my 250,000 miles second-engine second-transmission check-engine-light-always-on minivan.

Ideally, I want something with two doors and sporty, but also something that will be reliable. Good gas mileage is a bonus, but secondary. Good in-car audio would also be nice, but I don't really require any fancy bells and whistles beyond that.

I think I'd be a bit uneasy with a car payment over $500 a month. I have really good credit. I also have never gone car shopping in my life beyond internet window browsing, and I don't want to be taken advantage of by a smooth-talking dealer. I assume that whatever I buy, my car insurance premium is going to go up because I will be driving something better than a piece of scrap metal with four wheels and an air conditioner.

I'm working on saving money for a down payment for whatever I buy; I've got a bit over $1000 put away so far, the out-of-my-*** number I'd like to get to is $5000 but I have no idea if that much is actually necessary.

I'm thinking I'd rather buy than lease, though I could be convinced out of that if leasing is a better strategy for a 27-year-old bachelor.

Thoughts? Suggestions? Should I just go talk to a car dealer instead of the Internet lol?

Thanks in advance!

1) Why the want for a sporty 2-door car? I used to be you... then I realized how annoying it is to go anywhere with people (one person, sure) when you have a 2-door car. Backseats usually have less space and people have to crawl in through the front door to get in. If your friends are 6-year olds, fine, but I bet they are closer to 26-year olds. Plenty of nice 4-door cars to be had that still look sporty and you can actually take a group in your car.

2) Definitely check your options and actually do the math. You can find out everything you need from them, but you have to ask. When I got a new car in January, I decided to get a lease. Why? Because it actually costs me less at the end of the day. They want to move cars, so they will work with you, but you will probably lose possible incentives if you don't get financing through them; just a heads up. For me, I'm still leaning towards buying it in the end, and I actually spend $1000 less (and I actually lost another discount because I leased instead of bought, still ahead) for lease and then paying off the residual (a loan on 60% of the principal is paid off much quicker) than if I had just bought it on a 5-year loan. If you are a lower mileage driver, you can even come out further ahead. I'm probably only going to have 15-20,000 miles on a 3-year old car. I can buy it, then immediately sell it and make money off of it. Or if I hate it, I'm not stuck getting nothing for it on a trade in because I've only paid for the depreciation for 3 years.

Also with a lease, a down payment isn't really necessary. You're going to pay the same over the period no matter what because you are paying for depreciation. You handing them $2000 isn't going to change what value the car will lose. So save your money and pay that down payment out over 24/36 months instead of dumping it in all at once.

3) Call about insurance for cars you are interested in. It takes them all of a minute or two to see what it would cost you. I went from a 15-year old car with just liability where insurance was cheap, like real cheap, to a brand new car with full coverage, and I got all the extras I probably won't use like rental coverage. My insurance didn't even double. Depending on who you have and your discounts, and if you get the right car, your premium won't go up as much as you think. But if you want that Camaro or Mustang (what I think when I hear sporty 2-door), and you get a GT, be prepared for insane premiums.

4) Do your internet research. More places are putting out what you should be paying for a car, and with enough data, they'll tell you what it is for your area. They had tons of deals around New Years when I got mine so I paid well below what I was expected to. If you hold off a bit longer, you might be able to get some deals on people trying to move out 2014's.

[bkrich83]

Re: Buy a New Car.. Need Help Please.

Recently picked up 2014 Infiniti Q50S and I love it. Can't recommend it enough. I'll post pics later, but if you are in the market for a sporty car that really performs with a ton of options and reliability, I can not recommend Infiniti enough. I've had 5 of them now, and not had a single issue yet.

[cjonesfan921]

Re: Buy a New Car.. Need Help Please.

Recently picked up 2014 Infiniti Q50S and I love it. Can't recommend it enough. I'll post pics later, but if you are in the market for a sporty car that really performs with a ton of options and reliability, I can not recommend Infiniti enough. I've had 5 of them now, and not had a single issue yet.

I almost did...then this girl entered my life. -_-

Went from looking at a Q50..to getting a Nissan Rogue. A family man in the making.

[NDAlum]

Re: Buy a New Car.. Need Help Please.

Yep I went from M45 to Jeep Commander after the girl moved in with me...LOL!

[cjonesfan921]

Re: Buy a New Car.. Need Help Please.

Yep I went from M45 to Jeep Commander after the girl moved in with me...LOL!

My cousin just recently purchased a 2006 M45......that thing flies.

[kt-od]

Re: Buy a New Car.. Need Help Please.

Just bought my wife a 2015 Tahoe.

Make sure you do what others in here have said. Get ideas for financing before you go in to buy. Never, never, never, pay sticker price. Do your research before you go in, that way you aren't being duped.

I hardly ever buy factory new cars based on the depreciation, but I tend to drive cars until they fall apart, so I really didn't mind buying new since we will have this Tahoe until after we pay it off.

[NDAlum]

Re: Buy a New Car.. Need Help Please.

My cousin just recently purchased a 2006 M45......that thing flies.

Not trying to derail the thread but any time I can post a picture of my first car love I will...

Spoiler

'07 M45 sport edition pearl white "Lucy"

[bigfnjoe96]

Re: Buy a New Car.. Need Help Please.

Took the 500L to get "wrapped" with Clear Shield.

With all the driving we do, wanted to protect the paint job from little dinks from rocks and bumps from shopping carts.

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