Almost bought a vehicle - don't like financing - other options?
#11
IF you have cash in hand or can do minimal financing, then for sure a 1-2 year old car is a great way to go.
And the bit about financing kickbacks is totally true - my neighbor bought a 2008 Superbee brand new. He had the dough to pay it outright but got $2500 off for financing it at like 0.9% so why not - he makes more than that leaving the money in the bank AND got $2500 to boot. crazy.
#12
Yeah....sorta spoke with the bank, and sorta spoke with their finance dept. They're offereing mid-high 7% interest over 5 or 6 years or whatever. This car is a pretty good deal as it is, so i can't bring in other ones from the autotrader (if I could find many), but there is room to move on the price (salesman confirmed), i'm just not sure how much. Gotta be a decent amount, I imagine car sales are hurting just as the rest of hte economy is.
I'm hoping i can get him from 20 down to 17 or 18. I sent him a list of things I want checked or fixed (common issues, recalls, service bulletins, things noticed while driving). Turns out i partially lied on the tires, upon second check they were fine.
Whats everyone's thoughts on warranties? Up to 5year/100,000km I think I can buy extended warranty for however long. I was lookin at the three year ($2700, or 2 year 1800 maybe). Esentially a bumper to bumper warranty that folks on the 300c forums highly recommend, but i'm always curious to get more opinions.
Waiting for the safety inspection jazz to come back, then I can go in and talk price. I think the car is sorta teh better end of most of the deals, not completely sure why yet, but it is. Is it unreasonable to say 17k (original 20k) and settle there, or 18k?
Credit is good....about 770, least i think thats good....but no cash down as most of it is waiting for a downpayment on a house.
I'm hoping i can get him from 20 down to 17 or 18. I sent him a list of things I want checked or fixed (common issues, recalls, service bulletins, things noticed while driving). Turns out i partially lied on the tires, upon second check they were fine.
Whats everyone's thoughts on warranties? Up to 5year/100,000km I think I can buy extended warranty for however long. I was lookin at the three year ($2700, or 2 year 1800 maybe). Esentially a bumper to bumper warranty that folks on the 300c forums highly recommend, but i'm always curious to get more opinions.
Waiting for the safety inspection jazz to come back, then I can go in and talk price. I think the car is sorta teh better end of most of the deals, not completely sure why yet, but it is. Is it unreasonable to say 17k (original 20k) and settle there, or 18k?
Credit is good....about 770, least i think thats good....but no cash down as most of it is waiting for a downpayment on a house.
Last edited by Hardcore Rock Superstar; 11-14-2008 at 06:57 PM.
#14
I would go for the 2 year, the second highest from the top because the top tier plan usually is incredibly expensive with a big drop down to the second tier.
Second best plan will cover almost everything anyway, especially A/C.
Years ago I would laugh at purchased extended warranities, but not anymore. Parts are pretty expensive, the designers have engineered things so you need 20k in special tools to get them out, computers, electronics, etc. Just too complicated to do much more than the basics on your car these days (brakes, oil, etc).
Make sure its the car you want and will be happy with. Really sucks to have to pay for the car 4 or 5 years and realize 2 months in you dont like it.
John
Second best plan will cover almost everything anyway, especially A/C.
Years ago I would laugh at purchased extended warranities, but not anymore. Parts are pretty expensive, the designers have engineered things so you need 20k in special tools to get them out, computers, electronics, etc. Just too complicated to do much more than the basics on your car these days (brakes, oil, etc).
Make sure its the car you want and will be happy with. Really sucks to have to pay for the car 4 or 5 years and realize 2 months in you dont like it.
John
#15
I agree on warranties. I paid $1700 for a drivetrain warranty on a used Lumina Z34 and I figure it saved me $6-7000 in repairs. POS Chevy - last one I will ever own..
I bought 5yr 100,000km bumper to bumper on the previously mentioned Caravan too and actually wound up selling the van with a little warranty left on it so I was covered the whole time we owned it. I didn't have to get ANY work done on that one, but considering the nightmare the Z34 was, I will always go for it on a used car.
I bought 5yr 100,000km bumper to bumper on the previously mentioned Caravan too and actually wound up selling the van with a little warranty left on it so I was covered the whole time we owned it. I didn't have to get ANY work done on that one, but considering the nightmare the Z34 was, I will always go for it on a used car.
#17
Still, fantastic time to buy.
Your problem is likely the current car is about baffed out, and if the tranny drops out of it, then what? Kiss off 2k on a rebuilt one? Not worth it because you wont get that money out of it.
I still say (apologies to DUKK) go for a nice used one. Sit down with a calculator and figure things out.
Don't take my word for it, go look up depreciation values, 12-24-36 months. It will scare you. Don't even consider a new 10k Hyundai or something. When you try and trade it in, they will offer you a coffee and a pack of Juicy Fruit for it.
Search my other car thread. I explained it there.
#18
after a buncha dealing on the car....and about 5 grand cheaper...i ended up buyin it. Also got a better rate than what it started at.
I've gotten a lotta compliments iwth it and it's all stock still...so i'm pretty happy all in all!!!!
Thanks for the help n comments from everyone here!
I've gotten a lotta compliments iwth it and it's all stock still...so i'm pretty happy all in all!!!!
Thanks for the help n comments from everyone here!
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