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I'm glad that I found this discussion thread because I've been racking my brains about what vehicle would be best for myself. I am a 23 y/o female first time driver. Now that I am in my senior year of college I will need a car for travel to and from campus and to various professional events around the DC Metro Area.
I don't know much about cars but I have been trying my best to figure things out and put two/two together. First off I only want to spend $10,000 after everything is said and done (it is all that I can afford). I would prefer a vehicle that is small since I'll have to park and drive within the city.
I want something that will last me for at least 3 to 5 years or so because I have student loans to pay off and I want to take care of them before considering another vehicle
Any help is greatly appreciated. I'm going to a Credit Union New and Used Car Sale with my mother at the end of this month to hopefully find something - and I'm looking to be pointed in the right direction prior to doing so. Or, if I can possibly find a better deal in the area.
Thanks in advance.
tidester, host
Though for 8 or 9k you should be able to get a very nice vehicle that should much longer than 3-5 years.
Also, since you are new to car buying...I would take an experienced person with you. Mark-up is high on used cars, so do your homework so you don't overpay.
Cute? Whatever you find that is cute and reliable should work. Good luck.
About present mileage - I've read that the average is 12,000 per year but how many more miles are too many on any given vehicle?
I'm reading up on several different makes and models ranging from '99 to '05. But, my mother is coming with me to the auto sale but I want to be prepared and have an idea of the vehicles I'd want and have all of my research in order.
Thanks in advance, Angel.
Our credit union has those sales. These cars are not particularly good deals.
The fact of the matter is that for high-quality, high-mpg cars, the demand on the used side is so high that you don't really save anything per mile or per month by buying them two or even five years old. The cost is lower, the repairs/maintenance are more, the insurance is the same (!), and the car will die N years earlier.
Believe me, I've worked this out up one side and down the other... I've had plenty of great used-car deals, but (i) I kinda know what I'm doing, and (ii) I've had some clunkers in the mix, too. Some of my best deals and my cheapest cars for the long run were the ones I bought new.
This goes for your Corollas and Nissan pickups. Cadillacs are different. But what you want is something that currently 40% of all buyers are looking for. What do you think that has done to prices?
Good luck,
-Mathias
I would buy a new car if I had the money to do so but I'm only being given $10,000 and $10,000 only to work with. Because, to be quite honest I originally wanted a new Yaris but was told that since the value rapidly decreases on new vehicles I would not be able to get one and the fact that it was a little more than my given budget it was a no go.
If, I could figure out a way to work a deal to acquire any of the newer vehicles within my budget I would.
That's why I'm here
Take out a loan, then. Put down $8, bank $2 for emergencies or whatever, and build your credit with an $8 or $9 loan over 5 years at $180/month or so.
I hate loans myself. To such an extent that last year, I paid off a 0% loan a few months early. That's how much I disliked having a monthly payment. But sometimes it's the best way to go.
This business with "value rapidly decreases on new vehicles" is baloney, esp. for high-mpg vehicles like the Yaris. If that were the case, you'd be able to get the $14 hatchback as a one-year old car (i.e. an '06) with 9k miles for $10k.
But you can't. Neither can I. I bought a 2004 Pontiac Vibe in late '03 for $15,500 and sold it 30 months and 27k miles later for $11,500. That's $4 depreciation for almost three years... with full warranty etc. IOW $133/month for the best 30 months out of that car.
You want a Taurus, I agree, get a used one. But the nice, clean, low-mileage Civics/Corollas/Mazda3's are of the can't-find-them, can't-get-them variety, and when you do find one, it's $2 off th price of a new one.
Go ahead, try it out.
If I sound like I'm preaching, it's cuz I have heard the "loses 30% of its value when you drive away" myth one too many times. 30% off sticker, maybe... but more like 10% off street price. Anybody who thinks they can do better buying used from a dealer is in for a surprise.
Trust me on this, I've done it every which way and even made money on used cars. But I have on occasion lost a piece of skin, too.
-Mathias
Some people like getting high mileage vehicles because they can get then for thousands less than a comparable car with average miles. If that person only drives about 6k-7k miles a year...it can be a very good value getting say a 3 year old car with 60k miles. You get a car with plenty of mileage left on it...maybe save a thousand or two due to the high mileage depreciation.
Any suggestions?
Just avoid the Supercharged ones. You don't need to the extra maintance of the SC motor or the reduced MPG.
Possible vehicles would be.
Pontiac Bonneville(MY personal favorite)
Buick Park Avenue
Oldsmobile 98
In an ideal world, I'd like 30 mpg.
Sometimes you can luck out with miles. My son got a '98 Buick 2 years ago with only 40,000 miles! But more likely, you will be looking at one with 80,000 or so. I bought a Toyota Camry with that many miles with no hesitation; cost more than $5000 however. It now has 115,000 with no problems whatsoever (knock wood). Camry will get 30 mpg (the 4 cyl) but it will be hard to find one at $5000 or below.
'24 Chevy Blazer EV 2LT
I could get over 30 mpg in my bonneville but it was a 1989 model that was much lighter then the late 90's version of the bonneville.
My best ever mpg for a single trip was 40.1 mpg on a perfect cool fall day right before thanksgiving one year.
Best thing to do is buy one from a private (and original) owner who has the service history. It's likely that most of the things that fail (water pump, alternator, etc.) will have already been replaced and you'll have many happy miles if it doesn't have much over 100K on it when you buy it.
Really, just about any GM with the 3.8 is a pretty good value used.
HHR-176 inches long
RAV4-181 "
HondaCRV-181"
Mariner-175
PT Cruiser 168"
Suzuki SX4-164" so it is the shortest of the above.
Does this vehicle exist?
Ford's new fairlane concept might be sort of like that but it is a few years off.
http://www.gmc.com/acadia/
Buick will also have a version early next year named the Enclave http://www.buick.com/enclave/
I think I will like these, but am waiting until I am able to test one out to make my decision.
I know this is a stretch but I was in one the otherday and was impressed....Mercedes R-class.
OMG most painful modern car I have ever driven. We took one in trade with only around 1000 miles on it. Anything you can lease for 399 a month when it has a MSRP of 60,000 plus has to be junk.
I am only comparing mid and full sized luxury SUVs though.
Also it depends on the mileage and term of the lease as to what your payment will be.
One of my clients works for the local MB/BMW dealership so on the right R-Class you can get down to 399 or so a month.
Requirements:
4-5 doors, compact to midsize (sedan, hatchback, small wagon, maybe compact SUV), FWD, Auto, ABS, side airbags, power windows/locks, remote entry, traction control. Stability control and remote start would be a plus. Fuel efficient (30+MPG HWY). Smooth/quiet ride. Good safety ratings. Passenger room not a big priority, but would like enough room to haul stuff if I need to.
Say $15k to $22k (US)? Something that feels a bit more than an "econobox," without breaking the bank.
Currently Driving:
2.4L Cavalier LS, which has most of the options mentioned above, save for the side airbags, remote start and stability control. Looking for something a bit quieter, safer, more refined.
Thoughts:
Have been going kind of back & forth in my head with this one. Doing some online research and driven a few (Vibe, Maxx, Rabbit). Currently thinking maybe Malibu sedan LT w/ options, or low-end RAV4 for a lot more room. Can't seem to get traction control in a new Accord or Camry below $25k. Same with the new Aura. Vibe seems so pricey with all the options; doors felt a little flimsy, though I like the form factor. Not sure about Civic. (Wasn't encouraged by some of the Civic threads about the A/C.) No traction control in Civic. Malibu Maxx maybe, though it loses some mileage compared to the 4-cyl sedan. (RAV4 has similar mileage to Maxx, but a lot more room.) May test drive the Versa, though its seats don't really fold flat, and no traction control. Probably won't be buying VW, as dealer is about 3 hours away. Focus, Cobalt, and Corolla have traction control available as an option.
Anyway, looking for opinions on what models to look into, based on the above criteria. Thanks in advance.
My other though is the Chevy Impala, a little bigger than the others you were looking at, but the deals are pretty good on them right now. I think highway mileage is close to 30.
I'd like to keep it under $10,000.
Thanks in advance
Dennis
Any used Honda or Toyota minivan will be good and last a long time. If your other two children are still small, the Mazda minivan is nice, but remember that all of them will grow and some may have tall friends!
'24 Chevy Blazer EV 2LT
But when you shop, bring all three seats and go with what works easiest for you. You will find that some are easier to navigate or wider than others.
'24 Chevy Blazer EV 2LT
I ended up buying an '06 Scion xA with less than 5K miles on it.
Thanks for the advice everyone!
I like to buy American, if I can. I really like the Chevy Equinox and the Pontiac Vibe. My concern with those two are getting one in my price range (I like keeping payments at $200/mo.), and gas mileage. :shades:
I have my needs and wants list, and I am a strong negotiator. I am just looking to see if anyone else has any suggestions or recommendations of cars I should look at.
FYI, I have test driven Saturn in the past. No way. (can't stand the ride).
Thanks!
I was able to get it for approx $12,000 (200/mo for 60mo) with financing and an extended 10yr 100,000mi warranty. ($1,500).
Anyway. I appreciate any suggestions of what I should look at thanks!
While I realize that the two are related, suggest you shop price rather than monthly payment. Decide how much vehicle you can afford - it sounds like $10,000 (financed) plus the value of your trade plus any other down payment money.
The two vehicles you have under consideration are rather different in size. The Vibe seems to be a pretty good car and value. Don't know that the same can be said about the Chevy, at least not yet.
My muffler wasn't covered when it fell off, which was frustrating, but other stuff like lights and things were.
I know that everyone shops on price not payment, but I don't see why. I know that I want $200/mo for 60mo, 66 tops. That is going to equal a price no matter what. By shopping by payment, I let the dealer think they can be creative, when they still have to come to the end that I want.
That's what happened when I bought this car anyway. The dealer started to come down, and then more. He told me the warranty came out to about $30/mo. That told me that I needed payments at $170. By the time he got to $172, I stood up and started to say "thank you, but no thank you." My mom dropped her jaw that I was going to leave, but the dealer didn't let me go anyway. He said "ok, I'll eat the $2" I said "good let's add the warranty and sign".
I hope to have that kind of success again this time.
I see your point on the differences between the vibe and eq. I am mostly interested in your (or anyone's) opinions on any other cars that I might want to look at, in my price range and needs.
Thanks!
Now, that's not to say that you can't get the best available rate at a dealer - I just bought a new car with manufacturer financing of 0% interest for 72 months. There's nobody else who'll loan me $31,000 plus on such terms. However, with a used car, shop elsewhere for a good rate and have your financing lined-up when you get ready to buy. Worst case then is that the dealer will match what you've come up with. Perhaps they will beat it. Either way, you'll be ahead.
Thanks for your advice.
I highly recommend that you look at used higher-end cars. A 1998 S class, for instance(the last of the handbuilt squarer designs) runs less than 20K and is as solid as a tank.
Or you can look at something like a two year old Lucerne CXS. This is a budget Cadillac with a Buick nameplate. Or you could get a nice used GS300 for this much as well - and it's worlds better than your current car. So much so that it'll feel like going from a VW Bug to an Accord.
Let some other fool eat the depreciation. Seriously. Less to insure, register, and most of the big sedans get 25-30mpg highway.
New? Only two come to mind, really. A RX-8 is #1 on my list. Right now, last year's model is selling for about 20K, and it's definately a car that you'll keep long enough to make depreciation moot.(and the used ones sell for barely less than the new ones). Also, the engine is prone to being abused, so you want it new to properly break it in and maintain it. Possibly the best deal out there for the buck, new(with one exception). Oh - the idea is to get a base model, very few options.
The other is a Mini. the 2007 model is coming out soon and if you buy a base model with only a few options on it, you should be at about $18K. You can drive it for three years and sell it for maybe 2-3K less than your bought it. It's not a great car, it's just in a unique position of hardly loosing anything in value.
#3 would be a new Accord VP. ~$16K, and all you need to do to make it drive and be like a top-end Accord is have them put the rear swaybar back in and add a couple of speakers in the rear.(pre-wired, stupidly simple).
Other than that, definately used.
It is an amazing car.
The real thing it has, though, is the following. And that means very low depreciation, if any. Now, the new 2007 models(2nd generation design) will cause a huge drop in values, so the smart thing to do is wait 1-2 months until the new models are out. The 2007 models will hold their value like the originals did.