Argh

[bertine]

Cars are so expensive. I wish I liked fixing cars or had my own garage so I could fix my own cars because it would be so much cheaper.

All the cars I am looking at are around 25k. With a 5 year loan that would be $500 a month! How do people buy new cars and have mortgages? I am going to go hide my head in the sand right now.

Comments

[eatsoylentgreen.livejournal.com]

whereas I would buy a new $500 car, each month.

[bertine.livejournal.com]

Other than the fact that it would take too much time to buy the car and then get rid of the old one, that isn't a bad plan.

ARGH.

[sterlingphoenix.livejournal.com]

You must have a different definition of the word "New" than I do.

[pallid-regina.livejournal.com]

LOL...that is a truly brilliant plan!

[sacramentalist.livejournal.com]

I know! It's awful.

My car has treated me well, and I still have to put money into it. The lack of A/C is killing me.

[bertine.livejournal.com]

My car doesn't have A/C right now either. I hate it.

[seattleforge.livejournal.com]

So, you're not putting any money down?

[bertine.livejournal.com]

I am but it doesn't help much. I only have about 4k to put down. I wasn't really expecting to buy a car this summer so I wasn't saving for this. I have no idea what tax will be but I think it is 7% of the price (I think, I am not sure).

I am back to looking at low milage used cars.

[seattleforge.livejournal.com]

Well.. the interest rate you pay on a used car will likely be much higher than the rate you'll be charged on a new car given all the deals out there. So unless you're married to a particular badge or model you should be able to secure a much lower interest rate.

[springbok1.livejournal.com]

Are you okay with buying used? I have a used car dealership I really like, Keewaydin Auto. It's run by a couple, Gloria and Paul - they're upfront with the pricing, no games, genuine, nice people. They keep all the back issues of Consumer Reports that deal with cars in their office and will show you the reliability results for any car you're thinking of buying. I bought my Prizm from them 9ish years ago, and was really sad they didn't have anything like what I wanted this time around. I would have bought from them if they had.

[bertine.livejournal.com]

I am debating it. It would have to be pretty low milage. I am really the type of person to drive a car forever until it falls apart and so I would like to get a car that is either new or pretty close to new. seattleforge has a good point about the interest rate (and some of the incentives) that I wouldn't get if I was getting a used car.

[sterlingphoenix.livejournal.com]

My main concern with used cars is peace of mind. I've bought used cars before and they always, ALWAYS started falling apart REALLY fast. No matter what the "reliability" of the thing is, you just don't know what the previous owner did. I used to have that RAV4, and I mean it's a friggin Toyota, the transmission should NOT start falling apart so soon.

If you DO get a used car, it's not a bad idea to get a certified used one from a dealer. Some of those still have the remainder of the 36mo/30,000 mile warranty on them. If you do get a used car, buy an extended warranty.

[sterlingphoenix.livejournal.com]

Most people have downpayment to bring that amount down, and/or use their old car as a downpayment, the value of which is TOTALLY random and negotiable. Then you get them to go down on the price of the new car. All those "No Haggle No Hassle" places might not negotiate the price of the car you're buying, but WILL negotiate your trade-in value and interest rate, etc.

[seattleforge.livejournal.com]

The ole four-square.

[sterlingphoenix.livejournal.com]

Explain.

[sterlingphoenix.livejournal.com]

Or I could click the link under that. (:

I dunno that I agree with that article. I've actually had pretty good luck going to a dealer and saying "I want car X, I'm willing to pay $Y a month." and walking away if they can only get me Y+1. I don't believe I just wrote that.

[seattleforge.livejournal.com]

Here's a good article on how dealerships target their profit: http://www.edmunds.com/advice/finance/articles/47277/article.html

[pallid-regina.livejournal.com]

Wow. I've never had or considered having a new car...I forget how MUCH they cost! I couldn't do it, honestly. Give me a decent $5k used car any day.

[bertine.livejournal.com]

I know! Still, if I get a car that I can drive for 10-15 years, I'll be happy.

[heathrow.livejournal.com]

My husband and I have had our cars for 8-9 years apiece. He has a 2001 Nissan Maxima. I have a 2002 Toyota Camry. Mine is just fabulous, as is his. (My Camry is 3 years before the recalls.) I can't see us replacing our cars in the next two years unless we come into a lot of money. :) We both bought new and used our warranties for small fixes.

I like buying new for peace of mind.

[bertine.livejournal.com]

It is funny how many people like buying new for that reason. I am not sure I care as long as I get somethign that will last.


If I can get a car like those, I will be happy.

[annablume.livejournal.com]

Don't buy a new car. My car was one year old when I bought it with two full years of warranty left - and I saved 5K by doing so. Also, don't buy a 25 thousand dollar car. That's just silly.

[bertine.livejournal.com]

What sort of car do you have again?

[bella-phenomena.livejournal.com]

I bought my Honda Fit new, manual, for under 20k, and my payments are $300/m. I am very happy with the car in every way. I average 40/miles/gallon. Very good car.

I presume you've heard the saga of Y's Honda Civic Hybrid's mileage . . . as far as I can tell, it wasn't worth the extra money.

[damncutekitty.livejournal.com]

I bought my Focus new. But I was married then and we didn't have a mortgage when we bought the car.