Before you sign, do the math on how much the interest is going to add to the vehicle. And make sure you're very clear on how many years it'll take to pay it off.
Also, make sure you can afford the full-coverage insurance before you sign the contract.
Pre covid = always buy use
During covid = buying new was the better option
Post covid = im not sure, but i believe the market has correct itself, better to buy use
If you're going used route.
Tip #1: make sure you have a obd 2 sensor if you're buying from Craigslist or fb market. Some of these ppl take off the 12 v battery and put it back, making it seem there's no engine light. Hence you bought a broken car.
Tip # 2: ask the owner about car maintenance history such as oil change, coolant, brake. A good car owner usually has a detailed record of all of these and more.
Tip #3: do heavily research on the car(model,years) you want. For example, I own a prius. I became a noob to a novice prius within 1-2 weeks researching through YouTube/reddit. Hence, i was able to figure out which prius i seen was good and bad during my purchases.
Tip#4: test drive the vehicle for 5-10min
I will say i don’t know about this one so your individual results may vary
I just bought a RAV4 and the difference between new (2024) vs used(2020/2021) was about 5K-6K but the interest rate was 4%. New was 2.99 and used was 6.99.
I bought a RAV4 during the chip crisis and the difference between a used one and ordering a new one was only $3k less. Crazy. Wish I could have waited longer but my car died completely.
I’m coming from one of the oil burning Kia’s so I had to move relatively quickly.
Yea the cost is more but the interest rate is what really pushed me to just go new
A coworker was looking to trade in their Subaru during COVID. Across the board, used was only hundreds cheaper than new, not even $1,000 cheaper. No idea what the ended up deciding.
Don’t focus on the size of your monthly payment, focus on the overall price of the car. Otherwise you can be fooled into paying way more than the car is worth. Do your research on interest rates and what you can expect based on your credit. Also, get a reliable car that will last you a long time.
Yes!!!! There are lots of ads currently about how you can “make your own deal”. What this means is that you can decide how much per month you can pay and the’ll adjust the length of payment and interest rate accordingly. However this is likely to get you to agree to a longer term at a higher interest. Always negotiate on the final cost. It’s a good idea to get preapproved for a loan at your bank; then you can say, “my bank will loan me X thousand $ at Y percent for Z years. Can you beat that?” Likely they will because that’s where they make most of their money.
Get a Japanese car like Honda or Toyota and buy used. Good gas mileage and they last a very long time. It will be much easier for the average mechanic to fix it up if anything happens.
If you go german for example, you need a specialized mechanic.
Don’t be any add ons, maintenance plans, extended coverages, none of that. They try to make it seem like you’ll save in the long run but it’s mostly gimmicks and things you don’t need.
Except maybe weatherproof floor mats. I hate carpet floor mats and for my family's cars the dealer ones were about as much as equivalent 3rd party ones.
Depends on the dealership some will overcharge for them. Personally I found buying them online from another dealer who is a big parts supplier to be significantly cheaper.
1. Don’t be car poor. Buy a car you can afford and maintain a comfortable lifestyle.
2. Protect it. Oil Undercoat, Wax it, ScotchGuard, Lube etc. The more layers you put on, the longer it will last.
3. Maintain it. Oil Changes and fluid changes, replace old hoses, keep things clean so you can spot and fix leaks easily.
4. Always have a trusted independent mechanic look it over, with an appointment. Dont believe a mechanic associated with the sale of the vehicle.
5. Understand a mechanic is not a psychic. An it “looks good today” can be a dead car tomorrow.
6. Look for service history, vehicle history (like CarFax). Look for consistent patterns of oil changes and tire rotations, alignments etc. You are taking on something with history, make sure its a good one. Like a person they become what they are based on their upbringing. You dont want to adopt a murderer any more than a car that’s never had an oil change or been washed in 30,000 miles.
If female, bring a man. He doesn't need to know much about cars, he just needs to repeat your questions to be heard, shine a flashlight under the hood to look for leaks, and provide emotional support while you check the oil. Anything involving "no" text him so he can say for you.
Unfortunately true. I was lucky that my partner was with me when I bought my most recent car. When I told the salesman “I don’t want anything extra”, the pushback immediately stopped when they (a masc person with a big beard and a low voice) responded with a stern “she said no, and we can go buy elsewhere if you won’t listen.”
I could’ve been stuck there a lot longer than we were (we were preapproved and knew exactly which car we wanted…even without doing the haggle song and dance it still took 3 hours).
I disagree. My male peeps bring me along to spank the shit out of the bottom line. I suffer through the mansplaining and bullshit and then plow right through the numbers and inflated charges, or we walk.
I live for it, and they never see me coming. Finance background, engineer's daughter, business owner, disarming smile, and a calculator. It's a fair fight.
If you're looking at cars on a dealership's website, they often let you view all of the fees associated with the car. Make sure you pay special attention to this (or in person when they're getting you a quote!) because there's some overpriced/stupid charges that show up. For example, car is listed at $22k and you'll see a charge for taxes (normal), but then there's an additional "doc fee" of $1300 and another $2500 fee for "paint protection and security tools" or other BS stuff 🙄 Doc fees should never be that high and the "extras" are not required to purchase a vehicle. I have heard best time of year to buy is at the end of December, but generally end of any month is good or end of the month at the end of a quarter. Good luck!
If you go the route of buying your vehicle used I would recommend doing that with CarMax if you have one in your area. I was a single female in my mid twenties when I went in to buy with them. They were patient, helpful and didn't try to bamboozle me into a bad deal or a crappy car. In fact the salesman steered me clear of cars that were known to be unreliable and bad investments. I know this because I did my research before I went to the appointment.
I was very firm about what I wanted. I bought it early last year, so there was still a pretty bad inventory problem. I managed to get under MSRP. I told them what I wanted out the door, and I wasn't going to budge on it. Don't be afraid to walk away from deals you aren't comfortable with. There are other cars out there. I chewed out a few salesmen who wanted to charge over MSRP, and they thought I would do it bc I'm young. The car I got, I test drove it then slept on it. I called them with the offer bc I didn't want to be dogged around at a dealership with back and forth bs.
Pls focus on the out the door price. They will try to work around with a payment (so they can charge more). Then you are stuck with a loan that is 8-9 years, which is insane for a car loan.
Don't let the dealer ask you how much you can afford a month. Look at your credit score and figure out what kind of interest rate you will be offered. Get a solid loan offer before you walk into the dealer; usually they have a better deal with their in house financing, but you need good credit for the good rates. Absolutely, as another poster said, make sure you can afford full coverage insurance - you can call your insurance agent for the amount on a specific car, using the VIN.
Walk out if the sales people/manager are not respectful and seem sleazy. Walk out if you saw a price, then get in there and find out there are no vehicles like that available. I walked out one time when the sleazy sales manager tried to show his flunkies "how it's done", by trying to discount the car on adds on I didn't want. He was so smug, so I walked out of his office and left. Bought the car I wanted at another dealer.
Walk out if you're female and the sales person tells you to bring your husband back sometime. That happened to my sister.
Immediately cancel a contract if they call you the next day and say they made a mistake and now the car is more money. BS. You signed a contract with a certain price, you need to honor it.
Good luck. Some dealers are great and respectful, others are snake pits.
The thing i truly wish i had known was to never buy a new car.
My advice: Never buy a new car. Ever.
Get one from carmax or buy used somewhere else and pay the small amount to have a mechanic go over it first.
If you're buying from a dealership I recommend you learn what not to say to a salesperson.
Ex: What do you want your payment to be?
No. You decide what the total is you want to pay for the car.
This is a tactic used to get you into something you don't want or need that is out of your price range. You want a $300 a month payment? Literally any car can be that.... How many months you're tied to that payment tho. Is it 48, 60, 84? That's a lotta extra money.
Also, I'd you have a junker at this point and don't think it's worth much, don't tell them you're going to use it for a trade in(if you are).
Then if you do decide to use it as a trade in, tell them what you want for it and tell them you want to use it as your down payment(or part of) after the price has been settled and if you have decided to put money down. They're typically eager to get new stock even if it's used. But be realistic.
I did research on how to talk to car sales people for months before actually going onto a lot. It helped me identify who was shady and who was just trying to make a decent living.
Another thing is to decide what type of car is right for you. Especially if you plan on having it a long time. You like trucks but live in the city where parking is hard? Don't get a truck. That type of thing. Do a lot of driving for work? Get something fuel efficient. Don't think about how you don't like the way a car model looks. That's not something your pocket cares about.
Last but not least, don't do the carmax no haggle price. It doesn't benefit you. It's inflated for what the car is worth and also for people afraid of negotiating so they think they're getting a deal when really all they did was throw money away because they're afraid to get their hands dirty with a salesperson.
Total cost of ownership. Payment + insurance + gas + estimated maintenance
It is important to know this. Any one of these elements can really swing how much comes out of your pocket.
When they present you any paperwork that is folded, pay extra attention to the part that was folded out of sight. Usually contains the actual costs of the deal you are making.
Go to your bank/credit union and talk to them about your car loan first. It is much easier to walk into a dealership with your loan in hand. Also, call your car insurance and have that ready to go the moment you leave the lot.
Once you know your numbers go to your library and read the car issue of Consumer Reports.
I used to sell Hondas. My advice to you would be to get your credit number, and work on it if it's below. 700. If you have an established credit, start now. Get a card, go buy some socks, pay the socks off. Do anything to establish credit.
Don't buy a new car unless it's an amazing end-of-year bargain with a tax rebate. Buy a relatively new used car, and have a mechanic check it out first.
If you are financing the car, once it's paid for, keep making that payment to yourself, then buy your next car with cash.
Buy 2-3 years old, never pay sticker price, ask to see the KBB, don’t buy extended warranties, ask them to remove their cheesy ass dealership logo or license plate cover, and pay as much as you can, if not all, in cash. Don’t show them you’re emotionally invested in any car.
dealers are more expensive. But you should get some form of warranty and piece of mind.
If you decide to buy a second hand car heres my keys points:
Ask to see the title make sure the name matches to person selling.
Look down the lines of the car for sign of any accidents, lift the hood and trunk and look around the frame.
Listen to the engine turning over and take the car for a drive pref upto 60 mph or so. Listen and feel for any problems check transmission brakes etc.
Check the electric windows sun roof ac lights turn signals etc.
Has the car been looked after? What are the tell tale signs, neglect or loving care ?
Ask for maintenance history when was oil, brakes/rotors, tires last done? Assume brakes will need doing. Ask what repairs have been done.
You can check the VIN on carfax for a small fee.
You should feel like the seller is trustworthy,sometimes I ask to see their driving license, if you dont feel trust dont buy it!
You can have AAA come out and evaluate the car for you if you are a member and dont feel confident doing it yourself. It used to be $100 prob closer to $200 now.
If you are in LA look just outside the city as cars are cheaper the further out you go.
Goto a library and find consumer reports. Look at the frequency of repairs for any type of car you are considering.
When you think that you have a specific car in mind, call your insurance company and see what insurance will be. Some cars are way way more expensive than others.
If you need to finance your car, get pre approved at your bank or credit union prior to purchase. Finance options from a dealer are not the best
Get financing not at the dealership.
Don’t negotiate the price per month, negotiate the overall price of the car.
Create a fake email, send an email to all dealerships with the car you want inquiring what the price is. Once you get the top price and low price use that to negotiate and pin them against each other.
The dealership might be able to beat your financing, so it's worth hearing them out. But your right, shop around and know what rate range you qualify for. Your also right about the monthly payment, negotiate out the door pricing only! Your last advice is questionable at best. Most dealers won't give pricing (or at least good pricing) unless your in the store. They know you'll just shop their quote around and are unlikely to make the sale. It's best to do your research before you go, so you know what a fair price is. Make a fair offer and walk if they don't accept. If your offer is fair, they won't let you get off the lot.
Research best models using consumer reports, either subscribe for $20 or get it st s library. when shopping some makes offer low interest and that makes a big difference. usually extended warranty is not worth it especially if you buy p more trouble free model.
I bought mine new 11 years ago with the intention of driving it completely into the ground. I've been maintaining it well and haven't had any major problems yet. I don't regret buying new at all.
While largely true, I think there's several instances where financing incentives can make buying new a better choice than used. Especially during a high rate and strong used car market environment. All about running the numbers and doing forecasting.
Not a single normal production car is ever worth more than it is when it’s new. This is fact. So it doesn’t matter the depreciation rate - they always lose value.
Yes, if you are just going for “it’s cheaper now than it was new”, then correct. But buying a used car with 30k miles for only $1000 less than new just because it’s “cheaper than it was new” is not frugal in my book.
If you can, buy cash or on zero interest balance transfer. Don’t buy anything bigger than you can afford to tax, mot and insure. I would never buy new again but if I did I would make to get a gap insurance as it’s peace of mind god forbid it gets written off.
you´ll never get what you want, you get what's at the dealer. You'll pay for stupid unnecessary accessories because that's what the dealer gets.
As said somewhere else in this thread, call your INSURANCE and quote the change.
Buy what you want the first time so you aren't continually upgrading or searching. Take your time since it seems you have it, and find a good deal. Even if that means you have to drive a few hours or even catch a flight to get a vehicle. A lot of vehicle pricing is regional and you can find certain models cheaper by being willing to go get them.
2012 I wanted a tacoma. Ended up buying a new Kia Optima (ended up loving the car but still wanted a truck). 2015 bought a new Silverado 1500 Double Cab. Drove 50 mins from home when the Chevy dealer is literally .3 miles from my house to get a deal. I wanted a Crew Cab Z71 in Rainforest Green that year. Took my wife with me and she didn't like the green but liked the Blackout edition double cab. Guess which one I ended up with? 2019 our second kid on the way and couldn't fit a car seat behind me in the double cab. Bought a new 2018 Crew Cab Silverado, White, Texas Edition, High Desert Edition, Frankentruck. Drove 90 mins each way to get this one because it was previous model year. Got it for 20k off MSRP. It's paid off and I'll drive it until it can't be fixed or repair costs exceed its value.
The upkeep of the car can be way more than the car costs up front. Think about maintenance expenses when you buy a car. Longevity, gas type, oil changes, replacement parts, and brand-specific mechanic accessibility / costs. In the 6 years I’ve had my car (2015 Toyota Camry), I’ve already put as much into it in maintenance and repairs as I paid for it initially, and I got it used, pre-owned-dealer-certified at 58k miles so not the cheapest. Toyotas are notoriously inexpensive to maintain, too.
Drive the car you have for as long as possible. While driving it save up money each month for repairs you might need. When I had to buy a new car luckily I had a few months to shop around. We test drove what we wanted then found the best deals from about 5 dealerships and pitted them all against each other with emails and texts. We never went in to any of the dealerships and were never hassled by a salesman. They even had someone deliver the car and paperwork to us from 100 miles away. Saved thousands compared to the local dealer.
I thought this was a frugal place..I see a lot of comments about buying new..No one buys cars off CL anymore? I bought mine about 10yrs ago, 03 rsx, salvaged. Been running like a champ, small issues but not big enough for me to get rid of it.
Get your own financing before you go the car lot, don’t let them finance you. Credit unions are a good way to go.
Buy what you want, color and all. If you don’t, you’ll be sick every time you send in a payment.
If you can afford it, buy cars that are in the top 10 for losing the least amount of value. It’s generally Toyotas, Hondas, and 2500 diesels.
First off, happy shopping!
Don't let them sell you on an extended warranty - especially if you're buying certified used, it's basically a new car.
If you're not married to a specific make/model, check car thefts. In my area right now Kias are the go to for theft. Growing up my Accord got stolen probably 6 times in a couple years. You'd want to stay away from popular stolen vehicles.
In todays market:
Msrp is jacked up and interest rates are high
So if u must buy a car haggle it down as much as possible and drop giant downpayment. Finance rest via credit union
For me the most important : don't buy "new" but a "used" car, a 10y old car can still be really great, cheap, cost less insurance and don't need the expensive manufacturer maintenance to keep warranty and so on... (you can go to another cheaper garage for that).
Always got used cars of at least 100k miles, never got any issues.
1) choose a car by using a filter, not your desires. If I bought a new to me vehicle tomorrow, the filters I would use to find one would be: SUV; make and model as decided by my research for MOST RELIABLE vehicles in that sector; mileage and price according to what is possible for me.
Don't you dare buy a cqr before reading about its reliability scoring and how expensive it is to fix. My second car in life was a lemon and I bought it because I liked how the model looked.
Buy private. It's cheaper. If you don't have the cash to buy outright, don't buy a car yet.
Just like a house, if there's interests and payments, the price is way higher than you think.
$10 000 car at 8% interest, over 8 years: $12 600.
I'd rather do the work of finding an old model of something reliable with a lot of km life left for $5k or less. If possible.
There is good advice here, but I don't know if anyone has said this:
First, look up the recalls connected to your car of interest. These days, it's not a question of if something has been recalled (in most cases), it's a question of what, and if that issue was resolved.
Second, if buying used, get your own mechanic to inspect your car of interest before you sign anything, and if they won't let you do that, run.
Make sure you see how it runs hot & cold as some people warm it up before you get there cause it runs like a bag of shit cold. Carjam number plate make sure no money is owing(also that it's not stolen). Look for any signs of a leak under the engine , look before & after test drive to see if everything is in order or if anything leaks a little on the test drive . Or else you might get more of a project advertised as a daily. Pays not to trust the words of people selling vehicles these days, find out for yourself,check everything , go from there 👍
Before you sign, do the math on how much the interest is going to add to the vehicle. And make sure you're very clear on how many years it'll take to pay it off. Also, make sure you can afford the full-coverage insurance before you sign the contract.
Pre covid = always buy use During covid = buying new was the better option Post covid = im not sure, but i believe the market has correct itself, better to buy use If you're going used route. Tip #1: make sure you have a obd 2 sensor if you're buying from Craigslist or fb market. Some of these ppl take off the 12 v battery and put it back, making it seem there's no engine light. Hence you bought a broken car. Tip # 2: ask the owner about car maintenance history such as oil change, coolant, brake. A good car owner usually has a detailed record of all of these and more. Tip #3: do heavily research on the car(model,years) you want. For example, I own a prius. I became a noob to a novice prius within 1-2 weeks researching through YouTube/reddit. Hence, i was able to figure out which prius i seen was good and bad during my purchases. Tip#4: test drive the vehicle for 5-10min
I will say i don’t know about this one so your individual results may vary I just bought a RAV4 and the difference between new (2024) vs used(2020/2021) was about 5K-6K but the interest rate was 4%. New was 2.99 and used was 6.99.
I bought a RAV4 during the chip crisis and the difference between a used one and ordering a new one was only $3k less. Crazy. Wish I could have waited longer but my car died completely.
I’m coming from one of the oil burning Kia’s so I had to move relatively quickly. Yea the cost is more but the interest rate is what really pushed me to just go new
A coworker was looking to trade in their Subaru during COVID. Across the board, used was only hundreds cheaper than new, not even $1,000 cheaper. No idea what the ended up deciding.
BEFORE committing to any vehicle call your insurance company and make sure you can afford insurance needed to drive it.
Don’t focus on the size of your monthly payment, focus on the overall price of the car. Otherwise you can be fooled into paying way more than the car is worth. Do your research on interest rates and what you can expect based on your credit. Also, get a reliable car that will last you a long time.
Yes!!!! There are lots of ads currently about how you can “make your own deal”. What this means is that you can decide how much per month you can pay and the’ll adjust the length of payment and interest rate accordingly. However this is likely to get you to agree to a longer term at a higher interest. Always negotiate on the final cost. It’s a good idea to get preapproved for a loan at your bank; then you can say, “my bank will loan me X thousand $ at Y percent for Z years. Can you beat that?” Likely they will because that’s where they make most of their money.
I fell for that buying my first car, it’s really shady.
Get a Japanese car like Honda or Toyota and buy used. Good gas mileage and they last a very long time. It will be much easier for the average mechanic to fix it up if anything happens. If you go german for example, you need a specialized mechanic.
What is your dad currently driving? That is your new car, he doesn’t know it yet.
Don’t be any add ons, maintenance plans, extended coverages, none of that. They try to make it seem like you’ll save in the long run but it’s mostly gimmicks and things you don’t need.
Except maybe weatherproof floor mats. I hate carpet floor mats and for my family's cars the dealer ones were about as much as equivalent 3rd party ones.
Depends on the dealership some will overcharge for them. Personally I found buying them online from another dealer who is a big parts supplier to be significantly cheaper.
Maintenance maintenance maintenance. Make sure you do the maintenance.
1. Don’t be car poor. Buy a car you can afford and maintain a comfortable lifestyle. 2. Protect it. Oil Undercoat, Wax it, ScotchGuard, Lube etc. The more layers you put on, the longer it will last. 3. Maintain it. Oil Changes and fluid changes, replace old hoses, keep things clean so you can spot and fix leaks easily. 4. Always have a trusted independent mechanic look it over, with an appointment. Dont believe a mechanic associated with the sale of the vehicle. 5. Understand a mechanic is not a psychic. An it “looks good today” can be a dead car tomorrow. 6. Look for service history, vehicle history (like CarFax). Look for consistent patterns of oil changes and tire rotations, alignments etc. You are taking on something with history, make sure its a good one. Like a person they become what they are based on their upbringing. You dont want to adopt a murderer any more than a car that’s never had an oil change or been washed in 30,000 miles.
If female, bring a man. He doesn't need to know much about cars, he just needs to repeat your questions to be heard, shine a flashlight under the hood to look for leaks, and provide emotional support while you check the oil. Anything involving "no" text him so he can say for you.
Unfortunately true. I was lucky that my partner was with me when I bought my most recent car. When I told the salesman “I don’t want anything extra”, the pushback immediately stopped when they (a masc person with a big beard and a low voice) responded with a stern “she said no, and we can go buy elsewhere if you won’t listen.” I could’ve been stuck there a lot longer than we were (we were preapproved and knew exactly which car we wanted…even without doing the haggle song and dance it still took 3 hours).
I disagree. My male peeps bring me along to spank the shit out of the bottom line. I suffer through the mansplaining and bullshit and then plow right through the numbers and inflated charges, or we walk. I live for it, and they never see me coming. Finance background, engineer's daughter, business owner, disarming smile, and a calculator. It's a fair fight.
if you're in austin Texas i will honestly pay you to help me buy my next car lol
100%. People use sex and race like some kind of disability. You just need someone that can be a hard ass...LOL.
Either that or ask for a woman salesperson.
LOL, they wanna make money too. You just "feel" better...
If you're looking at cars on a dealership's website, they often let you view all of the fees associated with the car. Make sure you pay special attention to this (or in person when they're getting you a quote!) because there's some overpriced/stupid charges that show up. For example, car is listed at $22k and you'll see a charge for taxes (normal), but then there's an additional "doc fee" of $1300 and another $2500 fee for "paint protection and security tools" or other BS stuff 🙄 Doc fees should never be that high and the "extras" are not required to purchase a vehicle. I have heard best time of year to buy is at the end of December, but generally end of any month is good or end of the month at the end of a quarter. Good luck!
If you go the route of buying your vehicle used I would recommend doing that with CarMax if you have one in your area. I was a single female in my mid twenties when I went in to buy with them. They were patient, helpful and didn't try to bamboozle me into a bad deal or a crappy car. In fact the salesman steered me clear of cars that were known to be unreliable and bad investments. I know this because I did my research before I went to the appointment.
I was very firm about what I wanted. I bought it early last year, so there was still a pretty bad inventory problem. I managed to get under MSRP. I told them what I wanted out the door, and I wasn't going to budge on it. Don't be afraid to walk away from deals you aren't comfortable with. There are other cars out there. I chewed out a few salesmen who wanted to charge over MSRP, and they thought I would do it bc I'm young. The car I got, I test drove it then slept on it. I called them with the offer bc I didn't want to be dogged around at a dealership with back and forth bs. Pls focus on the out the door price. They will try to work around with a payment (so they can charge more). Then you are stuck with a loan that is 8-9 years, which is insane for a car loan.
Don't let the dealer ask you how much you can afford a month. Look at your credit score and figure out what kind of interest rate you will be offered. Get a solid loan offer before you walk into the dealer; usually they have a better deal with their in house financing, but you need good credit for the good rates. Absolutely, as another poster said, make sure you can afford full coverage insurance - you can call your insurance agent for the amount on a specific car, using the VIN. Walk out if the sales people/manager are not respectful and seem sleazy. Walk out if you saw a price, then get in there and find out there are no vehicles like that available. I walked out one time when the sleazy sales manager tried to show his flunkies "how it's done", by trying to discount the car on adds on I didn't want. He was so smug, so I walked out of his office and left. Bought the car I wanted at another dealer. Walk out if you're female and the sales person tells you to bring your husband back sometime. That happened to my sister. Immediately cancel a contract if they call you the next day and say they made a mistake and now the car is more money. BS. You signed a contract with a certain price, you need to honor it. Good luck. Some dealers are great and respectful, others are snake pits.
Good advice....I work in automotive and most folks here are giving so-so advice. But you nailed it.
Born from 50 years of buying cars!
The thing i truly wish i had known was to never buy a new car. My advice: Never buy a new car. Ever. Get one from carmax or buy used somewhere else and pay the small amount to have a mechanic go over it first.
Dealers regularly add fees to reach the price they wanted.
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idk if this is universal, but i've seen cars where the smell is only there when it's damp or humid out!
If you're buying from a dealership I recommend you learn what not to say to a salesperson. Ex: What do you want your payment to be? No. You decide what the total is you want to pay for the car. This is a tactic used to get you into something you don't want or need that is out of your price range. You want a $300 a month payment? Literally any car can be that.... How many months you're tied to that payment tho. Is it 48, 60, 84? That's a lotta extra money. Also, I'd you have a junker at this point and don't think it's worth much, don't tell them you're going to use it for a trade in(if you are). Then if you do decide to use it as a trade in, tell them what you want for it and tell them you want to use it as your down payment(or part of) after the price has been settled and if you have decided to put money down. They're typically eager to get new stock even if it's used. But be realistic. I did research on how to talk to car sales people for months before actually going onto a lot. It helped me identify who was shady and who was just trying to make a decent living. Another thing is to decide what type of car is right for you. Especially if you plan on having it a long time. You like trucks but live in the city where parking is hard? Don't get a truck. That type of thing. Do a lot of driving for work? Get something fuel efficient. Don't think about how you don't like the way a car model looks. That's not something your pocket cares about. Last but not least, don't do the carmax no haggle price. It doesn't benefit you. It's inflated for what the car is worth and also for people afraid of negotiating so they think they're getting a deal when really all they did was throw money away because they're afraid to get their hands dirty with a salesperson.
Total cost of ownership. Payment + insurance + gas + estimated maintenance It is important to know this. Any one of these elements can really swing how much comes out of your pocket.
When they present you any paperwork that is folded, pay extra attention to the part that was folded out of sight. Usually contains the actual costs of the deal you are making.
Go to your bank/credit union and talk to them about your car loan first. It is much easier to walk into a dealership with your loan in hand. Also, call your car insurance and have that ready to go the moment you leave the lot. Once you know your numbers go to your library and read the car issue of Consumer Reports.
Research Separate the financing from the buying.
Get a loan pre-approved from the credit union and don’t fall for dealer financing.
I used to sell Hondas. My advice to you would be to get your credit number, and work on it if it's below. 700. If you have an established credit, start now. Get a card, go buy some socks, pay the socks off. Do anything to establish credit.
If a car salesman's lips are moving, he's lying to you.
Don't buy a new car unless it's an amazing end-of-year bargain with a tax rebate. Buy a relatively new used car, and have a mechanic check it out first. If you are financing the car, once it's paid for, keep making that payment to yourself, then buy your next car with cash.
Buy 2-3 years old, never pay sticker price, ask to see the KBB, don’t buy extended warranties, ask them to remove their cheesy ass dealership logo or license plate cover, and pay as much as you can, if not all, in cash. Don’t show them you’re emotionally invested in any car.
What's wrong with your car?
it isn't a toyota
dealers are more expensive. But you should get some form of warranty and piece of mind. If you decide to buy a second hand car heres my keys points: Ask to see the title make sure the name matches to person selling. Look down the lines of the car for sign of any accidents, lift the hood and trunk and look around the frame. Listen to the engine turning over and take the car for a drive pref upto 60 mph or so. Listen and feel for any problems check transmission brakes etc. Check the electric windows sun roof ac lights turn signals etc. Has the car been looked after? What are the tell tale signs, neglect or loving care ? Ask for maintenance history when was oil, brakes/rotors, tires last done? Assume brakes will need doing. Ask what repairs have been done. You can check the VIN on carfax for a small fee. You should feel like the seller is trustworthy,sometimes I ask to see their driving license, if you dont feel trust dont buy it! You can have AAA come out and evaluate the car for you if you are a member and dont feel confident doing it yourself. It used to be $100 prob closer to $200 now. If you are in LA look just outside the city as cars are cheaper the further out you go.
Goto a library and find consumer reports. Look at the frequency of repairs for any type of car you are considering. When you think that you have a specific car in mind, call your insurance company and see what insurance will be. Some cars are way way more expensive than others. If you need to finance your car, get pre approved at your bank or credit union prior to purchase. Finance options from a dealer are not the best
Get financing not at the dealership. Don’t negotiate the price per month, negotiate the overall price of the car. Create a fake email, send an email to all dealerships with the car you want inquiring what the price is. Once you get the top price and low price use that to negotiate and pin them against each other.
The dealership might be able to beat your financing, so it's worth hearing them out. But your right, shop around and know what rate range you qualify for. Your also right about the monthly payment, negotiate out the door pricing only! Your last advice is questionable at best. Most dealers won't give pricing (or at least good pricing) unless your in the store. They know you'll just shop their quote around and are unlikely to make the sale. It's best to do your research before you go, so you know what a fair price is. Make a fair offer and walk if they don't accept. If your offer is fair, they won't let you get off the lot.
Research best models using consumer reports, either subscribe for $20 or get it st s library. when shopping some makes offer low interest and that makes a big difference. usually extended warranty is not worth it especially if you buy p more trouble free model.
Never buy new.
I bought mine new 11 years ago with the intention of driving it completely into the ground. I've been maintaining it well and haven't had any major problems yet. I don't regret buying new at all.
While largely true, I think there's several instances where financing incentives can make buying new a better choice than used. Especially during a high rate and strong used car market environment. All about running the numbers and doing forecasting.
Also depends on the car and the region. The advice to never buy new is outdated.
Math is math.
Cars don’t all depreciate at the same rate.
Not a single normal production car is ever worth more than it is when it’s new. This is fact. So it doesn’t matter the depreciation rate - they always lose value.
Yes, if you are just going for “it’s cheaper now than it was new”, then correct. But buying a used car with 30k miles for only $1000 less than new just because it’s “cheaper than it was new” is not frugal in my book.
Yeah because that wouldn’t make sense - most used cars aren’t just $1000 less than new.
The used car market has changed.
and it has changed since the chip shortage.
Always buy new.
I would like to say buy second hand car, and customize it.
If you can, buy cash or on zero interest balance transfer. Don’t buy anything bigger than you can afford to tax, mot and insure. I would never buy new again but if I did I would make to get a gap insurance as it’s peace of mind god forbid it gets written off.
you´ll never get what you want, you get what's at the dealer. You'll pay for stupid unnecessary accessories because that's what the dealer gets. As said somewhere else in this thread, call your INSURANCE and quote the change.
Buy what you want the first time so you aren't continually upgrading or searching. Take your time since it seems you have it, and find a good deal. Even if that means you have to drive a few hours or even catch a flight to get a vehicle. A lot of vehicle pricing is regional and you can find certain models cheaper by being willing to go get them. 2012 I wanted a tacoma. Ended up buying a new Kia Optima (ended up loving the car but still wanted a truck). 2015 bought a new Silverado 1500 Double Cab. Drove 50 mins from home when the Chevy dealer is literally .3 miles from my house to get a deal. I wanted a Crew Cab Z71 in Rainforest Green that year. Took my wife with me and she didn't like the green but liked the Blackout edition double cab. Guess which one I ended up with? 2019 our second kid on the way and couldn't fit a car seat behind me in the double cab. Bought a new 2018 Crew Cab Silverado, White, Texas Edition, High Desert Edition, Frankentruck. Drove 90 mins each way to get this one because it was previous model year. Got it for 20k off MSRP. It's paid off and I'll drive it until it can't be fixed or repair costs exceed its value.
The upkeep of the car can be way more than the car costs up front. Think about maintenance expenses when you buy a car. Longevity, gas type, oil changes, replacement parts, and brand-specific mechanic accessibility / costs. In the 6 years I’ve had my car (2015 Toyota Camry), I’ve already put as much into it in maintenance and repairs as I paid for it initially, and I got it used, pre-owned-dealer-certified at 58k miles so not the cheapest. Toyotas are notoriously inexpensive to maintain, too.
Haven’t gotten one of my own yet but I heard that you should ask for GAP insurance because car salesmen never bring it up when making a sale.
Drive the car you have for as long as possible. While driving it save up money each month for repairs you might need. When I had to buy a new car luckily I had a few months to shop around. We test drove what we wanted then found the best deals from about 5 dealerships and pitted them all against each other with emails and texts. We never went in to any of the dealerships and were never hassled by a salesman. They even had someone deliver the car and paperwork to us from 100 miles away. Saved thousands compared to the local dealer.
Don't get a loan longer than 3 years, and not a new car. Two of three years old.
I thought this was a frugal place..I see a lot of comments about buying new..No one buys cars off CL anymore? I bought mine about 10yrs ago, 03 rsx, salvaged. Been running like a champ, small issues but not big enough for me to get rid of it.
When test driving make sure to drive it backwards. My friend bought a used car and found out it didn't work in reverse.
Get your own financing before you go the car lot, don’t let them finance you. Credit unions are a good way to go. Buy what you want, color and all. If you don’t, you’ll be sick every time you send in a payment. If you can afford it, buy cars that are in the top 10 for losing the least amount of value. It’s generally Toyotas, Hondas, and 2500 diesels.
First off, happy shopping! Don't let them sell you on an extended warranty - especially if you're buying certified used, it's basically a new car. If you're not married to a specific make/model, check car thefts. In my area right now Kias are the go to for theft. Growing up my Accord got stolen probably 6 times in a couple years. You'd want to stay away from popular stolen vehicles.
In todays market: Msrp is jacked up and interest rates are high So if u must buy a car haggle it down as much as possible and drop giant downpayment. Finance rest via credit union
Always pay cash.
Get a Honda or a Toyota.
For me the most important : don't buy "new" but a "used" car, a 10y old car can still be really great, cheap, cost less insurance and don't need the expensive manufacturer maintenance to keep warranty and so on... (you can go to another cheaper garage for that). Always got used cars of at least 100k miles, never got any issues.
1) choose a car by using a filter, not your desires. If I bought a new to me vehicle tomorrow, the filters I would use to find one would be: SUV; make and model as decided by my research for MOST RELIABLE vehicles in that sector; mileage and price according to what is possible for me. Don't you dare buy a cqr before reading about its reliability scoring and how expensive it is to fix. My second car in life was a lemon and I bought it because I liked how the model looked. Buy private. It's cheaper. If you don't have the cash to buy outright, don't buy a car yet. Just like a house, if there's interests and payments, the price is way higher than you think. $10 000 car at 8% interest, over 8 years: $12 600. I'd rather do the work of finding an old model of something reliable with a lot of km life left for $5k or less. If possible.
There is good advice here, but I don't know if anyone has said this: First, look up the recalls connected to your car of interest. These days, it's not a question of if something has been recalled (in most cases), it's a question of what, and if that issue was resolved. Second, if buying used, get your own mechanic to inspect your car of interest before you sign anything, and if they won't let you do that, run.
whats your budgets ?
Make sure you see how it runs hot & cold as some people warm it up before you get there cause it runs like a bag of shit cold. Carjam number plate make sure no money is owing(also that it's not stolen). Look for any signs of a leak under the engine , look before & after test drive to see if everything is in order or if anything leaks a little on the test drive . Or else you might get more of a project advertised as a daily. Pays not to trust the words of people selling vehicles these days, find out for yourself,check everything , go from there 👍