Buying a Car

[Serah]

Okay, the reason I'm posting this thread is because mine and hubby's car just recently took a huge shit on us. It's going to cost anywhere from $500-$1200 to get it fixed. We don't have that kind of money and they wouldn't let us make payments on the repair job. Sooooo, we're thinking of getting a new car. I have a few questions regarding this.

Basically, what do you recommend that is the best type of car to get? Something that's built to last and isn't going to constantly fuck up on us. Now, we're not looking into getting anything that's like BRAND NEW, we just want something in decent shape that runs, has heat and is big enough for a family of three with two small dogs. Another question I have is financing and loans. Which is better? Should we go and try to get a loan from the bank or should we go through a finance company?

If we can't get a loan for whatever reason and we have to go through a financing company, what should we expect from a financing company? I'm sorry for this, but we've had the same car every since Dave and I very first got together and it had already been bought and paid for, so I'm completely new to purchasing a pre-owned vehicle. Any suggestions and answers to my questions would be greatly appreciated. Thank you very much!

 

[Ness]

I can't speak to the financial side of things, since my car is an insurance-paid car...but I can make some recommendations on make/model.

If you're looking to buy something used and long-lasting, I'd recommend a Honda Accord or maybe an older Toyota Camry. I've had my '97 Accord since 2003 and it's ran pretty well (barring regular maintenance...and the clutch went out once), but that's a pretty solid track record for being that old. The gas mileage (another plus) is pretty solid (about 30 MPG by my own estimation), and the car in general is nice enough, it's got enough room but isn't gigantic.

Just shop around, and I'm sure you'll find something acceptable/similar within your price range. In general, I'd recommend an older (late 90s early 2000s) Japanese-made sedan, just make sure you give it a spin before you decide.

Good luck.

 

[Jack's Smirking Revenge]

As far as financing - get a loan. Getting a car on finance will cost you a considerable amount more than just the price of your car. If you can't get the loan you want, just try looking at third, fourth or even fifth-hand cars. They're often very cheap and just as reliable as something new.

 

[Serah]

We're not looking to get anything new. We're looking to get a used, decent, reliable car. I kinda thought I made that clear in my post above. Anyway, I've heard both good and bad things on financing a vehicle, but not enough information to steer me in either direction. Basically what I'm aiming for is if we can't get a loan from the bank and we have to turn to financing a car, what shall I expect? What are the steps to take, what are the things to beware of, etc...

 

[blakstang98]

Ahhh, so you decided to not repair the Cavalier and get a used car instead. I think this is a good choice because if you were to repair it, it would become a money pit after that, more than likely. Sadly enough, $500-$1200 is probably worth more than the car itself, as crazy as that sounds, which would make repairing it totally not worth it.

Honestly, I've driven nothing but Ford's my whole life, and I've never ever had a problem with them. So naturally I'm going to promote that, because I know they're reliable if you take care of them. You could probably buy a '04 Taurus for a decent price. You'll get a full-size car with 4 doors which if traveling moderately, should get you about 25 MPG, maybe more if you drive on the highway a lot. I'm not totally sure what yearish you want to get, but that would do you well if it has reasonable mileage or has done a lot of highway miles. I'll let you in on another car that you basically can't go wrong on. Pretty much anything that Buick makes. Buick's tend to be driven by old people more often than not, so you know the car was never beat on and always taken care of. If you don't mind people seeing you as an old lady because you drive a Buick, then that's a good choice too.

As for financing, I think a loan from a bank is your better choice. Financial companies will operate in shadier ways than a big corporate bank will. But then again, I've never taken a loan from a financial company, so I really couldn't tell you if it really is better, it's more of a personal thought. Seeing as how you had the Cavalier for so long, it would probably be a better idea to buy a car than to lease one. Cars are built to last for a long time these days, so getting a used car, you'll still drive it for 10 years.

Anyways, best of luck to ya Mandi on your car search. If you have any questions about cars, you know where to find me.

 

[Not of Rust]

Where are you located?

A couple options - and this is speaking from my own experiences in the US:

Many car companies offer certified used programs where the cars are given a very thorough going-over inspection and repair-wise, the interior reconditioned, and they often come with a worthwhile limited warranty. They're a little more expensive than a non-certified used but the benefits may be worth it. The dealer may have something that was used extensively as a demo, or an early-term lease, that could get you an almost-new car at a considerable discount. Also, if there's a car that recently went through a re-design, you can often pick up the a newer version of the previous design at a larger discount that normal. You can also negotiate more on used than new beacuse the salesman's comission is typically higher on used.

Another option is a used dealer chain like CarSense if you're in the US (Car sense is a PA/NJ chain but there are similar entities across the country). They'll generally guarantee you a nice, clean, well running car with minimal cosmetic flaws, but the prices are typically firm. They also offer a wide variety of makes/models.

As far as models - Toyota Corolla/Camry and Honda Accord/Civic have been the standard bearers as far as combining quality with cost effectiveness and fuel efficiency. I also have several friends who have made out well buying 2-3 year old Nissans (Altima, Maxima). My father in law is a Toyota dealer so I get a lot of insight from him - they jack up the price on used cars so really negotiate hard. It's tough times and a lot of the price cutting that's being done by the dealerships hits the salesman in the wallet - they make out better on used cars so they'll be more than happy to wheel and deal to get one off the lot. If you've got multiple dealers of the same manufacturer in the area, send a fax to all of them (and make it clear that you cc'd their competitors) with a description of what you're looking for and your budget, and ask them to make you a deal.

For financing - I've never seen a notable difference between the Automaker's financing arm and the major banks. Try looking at a reputable local/regional bank or if you've got a Federal Credit Union nearby, check with them.