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#1 Paintballr

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Posted 06 November 2013 - 11:58 AM

My first car that I ever bought finally died yesterday. It lasted about 8 years (was a pre-owned when i purchased it) and now have to start fresh. I have more flexability than my 18 year old self did this time around with down payment and potential trade in this time, but I have no idea where to start, what brands are good, dealers etc. Anyone got any advice?

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#2 thefuzz

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Posted 06 November 2013 - 12:09 PM

What happened to it?

 

Is it paid off?

 

Do you "need" a new car?

 

A new $2,000 transmission is much better than 48 payments of $350.

 

That said I trade cars every 2 years.

 

P.S. What do you want, and what's your budget?



#3 Paintballr

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Posted 06 November 2013 - 12:21 PM

Dunno what happened to it 100% on the way now to get a estimate. Its a 2006 suzuki forenza. Trade in value is around 2, 500 in good condition. Its paid off and the title is mine. Without it no transportation for me so yeah either fixed or new car is a must. Just my view is if its like $2, 000 to fix and its only worth slightly more is it worth it? Budget wise I'm looking for s sedan, I'd be willijg to put down around $3,000, and whatever they would give me for the other car. I can afford a payment up to $300-$400 a month but honesty don't feel like paying that.

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#4 thefuzz

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Posted 06 November 2013 - 12:31 PM

Dunno what happened to it 100% on the way now to get a estimate. Its a 2006 suzuki forenza. Trade in value is around 2, 500 in good condition. Its paid off and the title is mine. Without it no transportation for me so yeah either fixed or new car is a must. Just my view is if its like $2, 000 to fix and its only worth slightly more is it worth it? Budget wise I'm looking for s sedan, I'd be willijg to put down around $3,000, and whatever they would give me for the other car. I can afford a payment up to $300-$400 a month but honesty don't feel like paying that.

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If you can get much for it not running, I will be a little surprised.

 

Take a look at 06-09 Honda Accords.

 

Go talk to your bank about an auto loan and get the number of months paid as low as possible.  Maybe a 36 month loan or less if you can swing it.

 

Don't buy on payment, buy on price, and use your bank, not the dealer financing.



#5 panther4life

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Posted 06 November 2013 - 01:57 PM

Whatever you do don't put any money into a Suzuki!

Figure out what you want in your next car in terms of size, gas mileage, style, and budget then it will be easier to offer advice

#6 Big A

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Posted 06 November 2013 - 02:59 PM

Have you considered doing a lease? They have so,e great deals out there and if you plan on trading in your car in a few years and having a monthly payment anyway, you can get a 2014 Subaru Forester for 239 a month or a 2014 BMW 3series or 2014 Murano for $279 a month with like a $2k downpayment, what you said you have. When you consider a used car in the $3k to $5k range will probably have maintenance and repair issues likely in that same 3.year period, the fact you can write off some or all of you lease payment as a business expense, and a new car will have a warranty and some off all the maintenance also, it comes out much cheaper to lease a new car. If you don't like monthly payments, some offer discounted payments if you pay the 3 years upfront or in annual or quarterly payments.

Here is a page from US news site with many of the best current lease deals

http://usnews.rankin...ar-Lease-Deals/

#7 Paintballr

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Posted 06 November 2013 - 03:44 PM

Awesome, thanks for the advice everyone. Found out I blew a gasket in the car and haven't seen what other damage it could have done do the engine with it rattling. Worth the repair or should I just junk it? Its still technically "runs" just needs the repair

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#8 Anybodyhome

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Posted 06 November 2013 - 04:33 PM

Blew what kind of gasket? If it's on the exhaust manifold or something that's easy, but if it's a head gasket you're looking at an engine rebuild most likely.



#9 panther4life

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Posted 06 November 2013 - 05:38 PM

Awesome, thanks for the advice everyone. Found out I blew a gasket in the car and haven't seen what other damage it could have done do the engine with it rattling. Worth the repair or should I just junk it? Its still technically "runs" just needs the repair

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Again man, your wasting money pouring it into a Suzuki. Just my two cents but I've spent over 7 years in the car biz and am not talking out my ass here.

 

If that was your only option then do what you have to, but if you have the means to get yourself a new or even newer vehicle then you should.

 

It's impossible for someone to tell you what type of vehicle you should get without having a better idea of what your budget and type of vehicle you'd like to have.

 

Alice is right about leases they can be very good but not exactly for everyone.



#10 iamcline

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Posted 06 November 2013 - 06:04 PM

Go talk to your bank about an auto loan and get the number of months paid as low as possible.  Maybe a 36 month loan or less if you can swing it.

 

That's the first time I've seen that.  Usually it's get the lowest payment possible, that way you can increase the payment on your own and if something comes up, you aren't locked into a higher payment.

 

Interesting.



#11 panther4life

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Posted 06 November 2013 - 06:19 PM

If you can get much for it not running, I will be a little surprised.

 

Take a look at 06-09 Honda Accords.

 

Go talk to your bank about an auto loan and get the number of months paid as low as possible.  Maybe a 36 month loan or less if you can swing it.

 

Don't buy on payment, buy on price, and use your bank, not the dealer financing.

 

I hear ya on the 36 month loan thing but I don't know what kind of car that's going to get somebody who does not have a a large monthly budget.

 

Also dealer financing isn't the devil. If they can get you the same or lower rate then why not?



#12 Chimera

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Posted 06 November 2013 - 06:28 PM

I hear ya on the 36 month loan thing but I don't know what kind of car that's going to get somebody who does not have a a large monthly budget.

Also dealer financing isn't the devil. If they can get you the same or lower rate then why not?


a bank loan will give you a bit more negotiating power.
Also, not true for everyone, but my credit union offers 1.9% financing on used vehicles. no used car lot will touch that.

#13 panther4life

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Posted 06 November 2013 - 06:34 PM

a bank loan will give you a bit more negotiating power.
Also, not true for everyone, but my credit union offers 1.9% financing on used vehicles. no used car lot will touch that.

Maybe not a rock lot, but a real dealership can do that all day long for qualified buyers.

 

And to be honest it does not give you any leverage at all in negotiating.

 

Dealerships get a small kickback for any loan they send to a bank, so if you finance elsewhere it cost the dealership money in the form of a kickback they'd get from the bank.



#14 thefuzz

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Posted 09 November 2013 - 10:00 AM

That's the first time I've seen that.  Usually it's get the lowest payment possible, that way you can increase the payment on your own and if something comes up, you aren't locked into a higher payment.

 

Interesting.

 

The problem here lies in the fact that most Americans pay what they owe, and nothing more.  It's why folks have student loans for 10 years after they graduate.

 

Same as a home, if you can swing the 15 year mortgage, go for it.



#15 thefuzz

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Posted 09 November 2013 - 10:08 AM

I hear ya on the 36 month loan thing but I don't know what kind of car that's going to get somebody who does not have a a large monthly budget.

 

Also dealer financing isn't the devil. If they can get you the same or lower rate then why not?

 

You can find an 08 or 09 Honda Accord for 15K or under depending on what all he wants in it.

 

He said that he has 3K to put down, and hopefully can get 1K out of his Suzuki.

 

Lets say 15,500 for the tax, tags, and title work, minus 4K for trade and down payment = $11,500 financed.

 

On a 36 month loan with 5% interest rate payment would be roughly $345 per month.

 

He said that he can swing 300-400 monthly.

 

Below is a link to a low mileage one in ILM, although it doesn't have all the bells and whistles.

 

http://www.autotrade...349215744&Log=0




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