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http://portland.craigslist.org/clk/cto/3996103472.html
By the way, I've talked to about 5 different new car sales people in the last few days: the worst. Not a single one of them hasn't been severely obnoxious. "So when can we have you talk to the sales manager and wrap this thing up?" Well I'm not sure, but certainly not after 3 minutes of talking.
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http://www.youtube.com/watch?v=G8elevprV5A
http://automobiles.honda.com/civic-sedan/safety.aspx
http://portland.craigslist.org/clc/cto/4017580476.html
You know, if you've got a job as a teacher (I'm one too), Honda or any other car maker is likely to be happy to finance you on a car with only c. 10% down at or near 0% financing rates over 5 years. The car should last ten years, and probably more.
If you're in Portland, maybe consider picking up a copy of tomorrow's Oregonian. Maybe look at the screaming print ads for the car dealerships. The ones that say things like "2013 Toyota Corolla $15,999," or maybe even "2013 Mazda3, $14,999." I'm making those numbers up, but similar numbers are in my local paper. Just my 2 cents. It sounds like you're determined to get used...
I know that a lot of that has to be chalked up to luck and is no guarantee that'll always be the case, but it makes it really hard to imagine buying new. The logic of buying new is certainly not lost on me; the numbers make sense when we make some pretty reasonable assumptions, but I've never thought of a vehicle as anything but a depreciating necessity and I just worry about regretting the cost of a "luxury" that I've never really been that sold on.
I know that a lot of that has to be chalked up to luck and is no guarantee that'll always be the case, but it makes it really hard to imagine buying new. The logic of buying new is certainly not lost on me; the numbers make sense when we make some pretty reasonable assumptions, but I've never thought of a vehicle as anything but a depreciating necessity and I just worry about regretting the cost of a "luxury" that I've never really been that sold on.
'17 Chevy Volt Premiere
Maybe you should buy a $2000 car, and if something major goes just junk it?
In addition to this, provided we are talking a car that is about 3 years old, does a bank have a problem offering you financing on a private party exchange?
If you look at the data, given actual insurance payouts, mass wins. A tiny car simply does worse overall versus other cars. They also tend to have little to no real safety equipment standard in the 10-15 year old range. A 2000 Buick LeSabre, by comparison had ABS and stability control and so on, just because they put more money into it. You'll see that larger cars win most of the time.
So you're doubly behind the eight-ball here. $7K means old and small and a world less safe than new and midsize. Or old large, and a rust bucket. (Portland isn't nice on older cars to say the least)
http://portland.craigslist.org/wsc/cto/4002954253.html
This is what you need to be looking at if you are serious about $7K. Or something like a Buick Lacrosse/Impala/etc. Big, overbuilt, inexpensive to fix, depreciates like a rock, and capable of lasting a few more years. Anything imported you really should just buy new,
http://www.consumerreports.org/cro/2012/04/the-best-used-vehicles-for-under-20-0- 00/index.htm
'17 Chevy Volt Premiere
As for the bank, usually the headache is if the seller has a loan on their car. Many banks won't send the new buyer the title directly. There's usually a little risk involved there but I've never been burned.
Actually a smart move on their part!
And they do require that you service your car at their dealership which isn't unreasonable. I know I wouldn't take my lawnmower to one of those Quickie Lube shops. They aren't much less money and they use questionable tactics and tend to oversell items.
You may spend a bit more at a dealer but they use the correct oil and they don't use cheaply made oil filters etc. Well worth the difference!
After reading all of this, I think you are a prime candidate for leasing a new 2013 LX Civic! You will love the car! You can keep your 7000.00 intect somewhere and at the end of the lease, you can walk away or purchase the car fro the residual. You could, at that point, use 7000.00 as a down payment and have a very low payment and still have a nice, reliable and safe car!
The lease deals on the Civic are great, but if he's going to keep the car long-term doesn't buying it make more sense.
The Civic has 0.9% financing for 5 years right now, which is the lowest I ever recall for that car. Is 10% the lowest typical amount to put down to get the factory financing?
Depending on a person's credit rating they can put very little down. Unless they have very good credit they may not qualify for that excellent rate.
0.9% financing for five years is like free money. do it!
Bill
2017 Accord Sport CVT Mod Steel Metallic
The shoppers who are bound and determined to squeeze every last penny out of a deal are the ones that always leave unhappy and frustrated.
They read the "expert" advice in these forums. Words written by people who think they know all there is to know about the car business.
Instead of going through all of that, ask a family member or a friend for a referral. If you see a new car of the make you are considering in a parking lot, ask the owner about their experience.
Instead of asking for the "Internet Manager" who is usually nothing more than a rotating inexperienced salesperson, ask the receptionist for a nice, experienced salesperson who has been there a long time.
It really can be a relaxed, easy experience and no, you won't end up paying more.
A good and experienced sales person can save you time, money, stress, and help give you some good tips and tricks for your new car.
My experience teaches me that a salesman who makes my life better is the exception to the rule and that every other kind of salesman is an adversary. I am sure good ones are out there, but they are so few and far between as to easily justify a "I just don't deal with salespeople" rule in life because it's not worth my time trying to find a good one.
If you were to invest two million (or more) dollars into a car dealership you would expect a decent return on your money I would hope.
Otherwise, just keep those two million invested in conservative mutual funds and bonds and sit back and earn a ten percent return every year.
But, some buyers don't think you are entitled to a profit. They think you should sell your cars for what you paid for them or even less. These same buyers demand top dollar for their ratty trade in that you hope some wholesaler will take at a break even profit to the store.
I tried to maximize profits on every car I sold. That was my job and I was good at it. I didn't do this by lying or paying games. If I had to deeply discount a car and the deal made sense (important!) I would do what I had to do to make the deal happen.
The people who were the cheapest grinders never left happy. They somehow left thinking that just maybe someone else somewhere could have bought that same car for less! These people were never loyal. They would give mediocre surveys and were difficult to deal with in the Service Department down the road.
For me, it seemed like a small, miserable way to go through life but I suppose we are all different.
Life is short...
They get tired or trying to treat people as they would like to be treated.
This leaves the type you don't like.
As a lifelong Retail Sales Manager including a very high level position I really thought I had seen it all. I thought I had seen the worst in customers. I dealt with shoplifters, liars and cheats but NOTHING could prepare me for some of the customers in the car business. The vast majority were great to deal with and we got along very well. There were a handful of others that have left me forever cynical!
So there's a lot more to buying a car at a good price than finding a nice, friendly, helpful salesperson at the dealership. I know some very nice car salespeople, and it was a pleasure dealing with them. But I didn't take their first offer... or second. Maybe not their third, either. I understand they're trying to maximize profit. I'm trying to get the lowest price I can. And it's always the salesperson's prerogative to tell me when they've gone as low as they can, to ensure they make enough profit on the deal. I respect that kind of honesty, as I know where I stand. And if it's a good price, I'll take it. If not, we'll shake hands and I'll move on.
'17 Chevy Volt Premiere
Buying and owning a good car is one of the many pleasures in life, imho. Not everyone is so fortunate. I used to not be so fortunate. Sounds silly, but I'm grateful now to own my good Accords, a 2008 and 2013. After decades of driving mostly sucky cars, they are are both excellent, and by far the best cars I've ever owned.
You can buy your leased Acura for it's residual. It isn't "about" any number. It is a hard, defined number.
I am not a fan of Korean cars for a number of reasons but I know they have greatly improved in recent years.
You are simply going to have to do what you deem the best route. If you have taken good care of your TSX and you like it, you'll be able to buy it for the residual which is a great deal.
No "good" answer her. It's your decision.
Some of the new Kia's/Hyundai's are nice...but to keep one 10-15 years? I think the TSX would be a far better long-term car and you would enjoy it more. Average out the additional cost over 15 years and even a $5,000 premium looks pretty cheap.
My experience with Acura is that the service/repairs really aren't that expensive if you find a good dealer or even an independent mechanic that specializes in honda/acura. Certainly nothing like many of the other "luxury" brands.
TSX's are nice cars but not all that popular. If you can buy a nice one for 20K, you will be doing OK.
You can't negotiate a residual! That would be opening a can of worms and no different that if they decided to RAISE it at the end.
Lastly, why buy a 2010 when you know the car you already have....unless....you know you've been sloppy with maintenance as some lessors can be sometomes.
'17 Chevy Volt Premiere
Even in the last generation the Accord LX was missing some key things, such as bluetooth, alloy wheels, dual climate control, upgraded engine, etc.
But now all of that is included in the LX.
Check out this price from Crest Honda in Nashville. Similar prices on the LX are available in most of the country. My parents own one of these and they love it. This generation of Accord has a significantly upgraded and quieter interior. Some Honda fans, only half joking, call it the "Acura Accord." Coming from your TSX, I think you'd feel right at home. And financing is available from Honda: 1.9 for 5 years, or 0.9 for 3 years.
2013 Honda Accord LX Sedan
MSRP:$23,270
Dealer Discount:$2,779
True Price:$20,491
It IS possible to negotiate a residual. I have done it before, with NMAC, on a leased Sentra. When the lease was almost up, I called NMAC and made them an offer, lower than the residual on the contract, and they accepted it.
Whether the residual on a specific leased car is negotiable is an open question. But it doesn't hurt to try... the worst that can happen is they say, "No".
I would not consider Toyota or Mazda so that would leave me with a choice between Honda and VW. I am skeptical of VW reliability. I would consider the Honda Accord V-6 which looks like a nice car and reasonably priced even loaded up, but there are a ton of negative reviews for the V-6 model, mostly oil consumption and VCM problems. Can I reasonably believe those problems are in the past?
http://www.consumerreports.org/cro/magazine/2013/04/top-picks-2013/index.htm
"What it takes
Top Picks must meet our criteria in three areas:
Road test. Each must rank at or near the top of its category in overall test score.
Reliability. Each must have earned an average or better predicted-reliability Rating, based on the problems Consumer Reports subscribers reported on 1.2 million vehicles in our latest Annual Auto Survey.
Safety. Top Picks must perform adequately if tested in crash or rollover tests conducted by the government or insurance industry.
Each model’s overall road-test score, predicted-reliability Rating, overall fuel economy, detailed pricing, and much more is available on their model pages. Prices reflect the sticker prices when we bought our tested cars.
Midsized sedan
Honda Accord
The Accord was redesigned for 2013, and Honda nailed it, sending this sedan to the top of its class. This new model is roomy, nice to drive, well equipped, and very fuel efficient. With its four-cylinder engine, the Accord squeezes out 30 mpg overall and 40 on the highway, which is as good as the tiny Honda Fit. Higher-trim models have safety features seldom found in this category. And the Accord’s price is very reasonable: $23,270 to $30,860."
You are comparing apples and oranges--a full sized luxury car with 100k miles, vs. a new, nicely equipped mid-sized family sedan that costs $10k more.
Why not look at cars that are at least in the same price range? And same size class, e.g. used Lexus ES vs. new Accord EXL V6? e.g. you could get a low-miles CPO 2010 (maybe even a 2011) ES for $28k or less. Much more comparable to the Accord EXL V6 than the LS.