Car buying questions

shgadwa

Hello, I'm new to this forum. I want to buy a new car. Currently I own a 2009 VW Jetta which I've kept in reasonably good condition but I'm tired of putting money into repairs and also the mileage is not as good as I want.

At first I was just casually shopping around as I am not ready to buy. I was planning on purchasing a car later this year once I get married and will be making more money (I'm in the Air Force, currently E3). I wanted to go with the 2015 VW Jetta TDI which is said to have up to 50MPG with the new improved engine. But, yesterday I stopped into a chevy dealership and test drove the '14 cruze eco. Must say I loved it! 6 speed manual shifted super smooth. The electronics are far better than what I have in my current car. Such a smooth ride. Interior feels high quality.

I want to order a car because none in the lot have what I want. I really did not want to buy so soon but its really tempting because they have a rebate going this month. The rebate plus my military discount is 2k plus the dealer has agreed to sell below MSRP. The car plus almost 2k in customizations comes a little shy of 21k then 2k rebates bring it down to 19k. Of course I want to shop around and see if I can get a lower price.

My problem is that I have no money for a downpayment currently. I have reasonably good credit though. I wanted to wait a few months so I can save up for a downpayment of 2k or so but I'm afraid if I wait I will not get the good deal that they have this month. I think 2k is a good rebate amount.

Sooooo, long story short. Should I bite the bullet and go with the new car now & get the savings, or wait till I have a downpayment and just hope that they have a similar special?

Another factor is I'm not sure how long it'd take to get the car, but I'm thinking 4 months. If the dealer doesn't require a downpayment right away maybe I can save up money during that time. But I'm worried my car will depreciate in value more and I'm already upside down on the loan. At least I think I am.

Thanks!

Shawn

kyfdx

If there are a lot of incentives on this vehicle now, there is no reason to think they won't still be there, when you are ready to buy.

It's very rare that you will be further upside down, the longer you keep your current car. If you are upside down, and you have no money for a downpayment, then it is worst possible time to buy another car.