time for a new car

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
iamlucky13
Posts: 2281
Joined: Sat Mar 04, 2017 5:28 pm
Location: Western Washington

Re: time for a new car

Post by iamlucky13 »

^ I agree with surfstar on patiently watching for a great deal. That's pretty much where I am right now.

I test drove a newer Civic that was a good price and I liked, but it got sold before I had done enough research to realize how good of a price it was.

So now I'm just patiently waiting until I see the configuration I want for a good price again. In the meantime, I put $600 into my old Civic to replace worn out suspension parts to make sure it is safe to keep driving, and possibly recover a little bit of resale value.

The one thing I wasn't counting on (I did have a hunch supply would be low and prices would go up for a while and was willing to wait that out), was Honda eliminating the configuration I wanted, so now I'm mainly watching lightly used listings while waiting to see if they bring back the manual transmission in a sedan body following their redesign in 2022.

When the 2020 model year availability was winding down, every time the manual transmission sedans showed up on the dealer websites, they sold within days. Since there was clearly decent demand for them, I was not prepared for it to be eliminated as an option for 2021.
02nz
Posts: 6437
Joined: Wed Feb 21, 2018 3:17 pm

Re: time for a new car

Post by 02nz »

schmitz wrote: Wed Jan 13, 2021 9:15 pm Assuming the car I want is the exact same price in July as it is now (I know we don’t know for sure but just for discussion sake) do I gain anything from waiting?

For example if I want Netflix and I don’t get it until July then I save 6 months of monthly fees. It’s easy to calculate the savings.

Does that work with a car at all?
MSRP will be the same in July as now (at least for a 2021 model). But the supply/demand situation could look different. Most likely you'll be able to negotiate a better deal in July than now, but hard to say by how much. It will certainly vary by market and model.

I agree with the recommendation on an electric vehicle esp. if you put on a lot of miles.
helloeveryone
Posts: 682
Joined: Sun Sep 04, 2016 5:16 pm

Re: time for a new car

Post by helloeveryone »

schmitz wrote: Sat Dec 26, 2020 7:33 pm its been awhile since I've had to do this but my car is on its last legs (11 years old, 250k+ miles). It still runs as Ive (unfortunately) put a lot of money into it recently, but Ive hit the point where the inconvenience is getting to be too much of a hassle.

so where do I start?

I guess I first need to figure out what I want. I drive a lot so I'm looking at something reliable and cheaper to maintain than my current mercedes. I think the most popular models seem to be a honda accord or toyota camry but I'm open to other suggestions/recommendations.

I think I also am looking for a slightly used one so I don't get hit with the depreciation most cars seem to take the first few years.

1) when they say "certified pre owned" is that just a marketing ploy or does it really mean anything?

2) do I need to get a used car checked by a private mechanic if Im buying from a dealership?

3) I'd like to pay cash but I know dealerships dont like this. So how do you reply if they ask you "cash or finance?" right off the bat?

4) Or can I get a better deal financing and then pay it off in the first month?

5) is there a website that compares maintenance costs for each type of car so I can get a better idea of how much a car will cost me over the next 5-10 years?

any help is always appreciated. if there are any old threads that are worth checking out, links to read or youtube videos to watch, please let me know. thanks and hope everyone is having a nice holiday season!
If you plan on owning next one 10+ years new is perfectly fine. How about a new Toyota Camry Hybrid? Reliable, excellent gas mileage, probably a very nice ride
2tall4economy
Posts: 631
Joined: Thu Jan 08, 2015 7:55 am
Location: Global

Re: time for a new car

Post by 2tall4economy »

schmitz wrote: Sat Dec 26, 2020 7:33 pm its been awhile since I've had to do this but my car is on its last legs (11 years old, 250k+ miles). It still runs as Ive (unfortunately) put a lot of money into it recently, but Ive hit the point where the inconvenience is getting to be too much of a hassle.

so where do I start?

I guess I first need to figure out what I want. I drive a lot so I'm looking at something reliable and cheaper to maintain than my current mercedes. I think the most popular models seem to be a honda accord or toyota camry but I'm open to other suggestions/recommendations.

I think I also am looking for a slightly used one so I don't get hit with the depreciation most cars seem to take the first few years.

1) when they say "certified pre owned" is that just a marketing ploy or does it really mean anything?

2) do I need to get a used car checked by a private mechanic if Im buying from a dealership?

3) I'd like to pay cash but I know dealerships dont like this. So how do you reply if they ask you "cash or finance?" right off the bat?

4) Or can I get a better deal financing and then pay it off in the first month?

5) is there a website that compares maintenance costs for each type of car so I can get a better idea of how much a car will cost me over the next 5-10 years?

any help is always appreciated. if there are any old threads that are worth checking out, links to read or youtube videos to watch, please let me know. thanks and hope everyone is having a nice holiday season!
1) it means that they do a real check of the typical maintenance things instead of no check before selling to you
2) not usually, as long as the car is the same brand the dealership normally sells. They know the warranty repairs they'll have to foot.
3) say finance, get the best price you can but be flexible / don't push back on the finance rate, then at the last step tell them you decided to pay in cash
4) on the flip side, you can tell them up front you will pay cash but are ok with them making a profit off the spread on you if it lowers the sale price of the vehicle. This is less likely to work than #3 but allows you to sleep better at night.

Why I think this: employed in Finance for the car industry for 10 years.
You can do anything you want in life. The rub is that there are consequences.
joebruin77
Posts: 399
Joined: Fri Apr 23, 2010 12:14 am

Re: time for a new car

Post by joebruin77 »

By far and away, this was the most helpful book I have ever read on how to buy a car. By now, it is over 25 years old, but I imagine much of its wise advice still applies: In The Driver's Seat: The New Car Buyer's Negotiating Bible Paperback – June 8, 1993 by W. James Bragg.

I found Edmunds to be a very helpful website with lots of info on how to buy a car, such as:
https://www.edmunds.com/car-buying/10-s ... w-car.html

After you narrow things down to your top 2-4 choices, absolutely take each car for a test drive. This is a machine you are going to be spending a lot of time in on a daily basis for years. Make sure it provides you an experience you value and enjoy.

Once you know exactly what car you want, use a website such as Edmunds to find out the exact dealer's invoice cost as well as current manufacturer offers and incentives. Be a very well informed consumer. Then contact 4 or 5 local dealerships and ask each of them for the name and email address of their Internet Sales Manager. Then send an email to each and every one of the internet sales managers at these dealerships and say something like "I am contacting you because I am very interested in purchasing a (insert make ,model, and year of car). Please note I am a serious customer and I intend to buy this car this weekend. I am contacting you and three other local dealerships and I will buy this car from the dealership that will offer me the best deal. I am also a well informed customer who has done my research. I am aware of the exact dealer invoice as well as the current manufacturer offers and incentives, for example (name a specific one to let them know you are not bluffing). Please send me a reply with your best offer by 3pm today." Or something along those lines.

BTW, you can tell the dealership the make, model, trim, and year of the car you want. But try to be flexible on the color and do not tell them that you want one specific color, especially if that color is in short supply. They will assume you will be willing to pay more to get the exact color you want. So if they ask you what color you want, just say "I am not that particular about the color. Please tell me the available colors in stock." If they happen to mention the color you want, very nonchalantly say "Perhaps the (insert color) would work"....

If there is a very specific car you want and you cannot find it in stock at any local dealerships, keep in mind you can also use the same approach to do a special order for exactly the car you want. For example, a few years ago, I really wanted a new Subaru WRX limited in the specific color "World Rally Blue". No one had that car in stock. So I emailed 4 or 5 local dealerships, explained that I planned to purchase a special order Subaru WRX and that I would order it from the dealer that could offer me the best deal. One dealer said "that is a very popular car. The best we can do is $2,000 over invoice". I ended up getting that car from a different dealership for $300 over invoice. I could have gotten one a couple hundred cheaper if I had gone for a different color in stock, but I was willing to pay a little extra for exactly the car and color I wanted.

Good luck!
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SmallCityDave
Posts: 355
Joined: Thu Feb 21, 2019 10:04 am

Re: time for a new car

Post by SmallCityDave »

schmitz wrote: Wed Jan 13, 2021 9:15 pm Assuming the car I want is the exact same price in July as it is now (I know we don’t know for sure but just for discussion sake) do I gain anything from waiting?

For example if I want Netflix and I don’t get it until July then I save 6 months of monthly fees. It’s easy to calculate the savings.

Does that work with a car at all?
You may gain another breakdown from your car ;)

Which car are you leaning towards?

I'm not a fan of buying new cars but it's hard to justifying a "like new" Camry or Accord especially from a dealer the price is so close to new, you can buy a new one for $25k OTD or 2-3 years old with 30k miles for $20k plus fees and you have little to no warranty.

The big difference with Accord and Camry is that the Accord has a turbo and cvt newer and that's possibly more problematic the Camry sticks with tried and true technology.
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