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Re: question regarding the economy and cars

quote:

Originally posted by l�cid is now a good time to buy a car? i'm thinking current interest rates will be low and i'm trying to think ahead since i'd like to trade my car in before it starts costing me ass-loads of money to fix it... i just can't decide whether it's smarter to do it before or after i move this summer.

hell yea, its a good time to buy anything, except a house till it drops down even further. Expect 0 down, and 0%apr as long as you haven't jacked your credit up. Plus a few rebates and employee pricing reductions.

my credit is excellent. i'm waiting until tomorrow to hear some solid numbers... and i might just say i'm going to shop around if it's not within my range.

the thought of buying a new car is so weird to me. i was always told "never buy new" but obviously that's the way to go with the way things are right now.

and the thing is... i may not even keep the car for more than a year if all goes as planned, so i definitely just want something reliable to hold me over until then and something with good resale value. Toyota seems like a good option for that.

quote:

Originally posted by l�cid my credit is excellent. i'm waiting until tomorrow to hear some solid numbers... and i might just say i'm going to shop around if it's not within my range. the thought of buying a new car is so weird to me. i was always told "never buy new" but obviously that's the way to go with the way things are right now. and the thing is... i may not even keep the car for more than a year if all goes as planned, so i definitely just want something reliable to hold me over until then and something with good resale value. Toyota seems like a good option for that.

Toyata, Nissan, and Honda are built well. Just don't tell the dealer how much u want your payments to be or your budget. That's probably the first question they will ask. Negotioate the price of the car, not the payments, and your good.

Re: Re: question regarding the economy and cars

quote:

Originally posted by KiNeTiC ENeRgY hell yea, its a good time to buy anything, except a house till it drops down even further. Expect 0 down, and 0%apr as long as you haven't jacked your credit up. Plus a few rebates and employee pricing reductions.

Actually, depending on what market you're in, now is a good time to buy a house, too. Some markets, like NY or Boston, haven't come down enough yet, but one of the reasons for Wells Fargo announcing such good earnings yesterday is that housing is bottoming in quite a few markets, especially California. Coupled with the tax incentives that the government is throwing new buyers, I wouldn't stray away from that, either. It's all about understanding where your market is in the cycle.

quote:

Originally posted by l�cid my credit is excellent. i'm waiting until tomorrow to hear some solid numbers... and i might just say i'm going to shop around if it's not within my range. the thought of buying a new car is so weird to me. i was always told "never buy new" but obviously that's the way to go with the way things are right now. and the thing is... i may not even keep the car for more than a year if all goes as planned, so i definitely just want something reliable to hold me over until then and something with good resale value. Toyota seems like a good option for that.

I highly recommend the Lancer GTS.

Regardless though, AFTER they tell you the price of the car...make them itemize the cost. They tried to screw me over by giving me a piece a paper with some figures on them. Ask to see the paper that shows ALL the indiviual cost of everything.

Also go here: to check out cars http://www.edmunds.com/zipcode/new/index.html

and some good read: http://www.edmunds.com/car-advice.html

particularly the ones that say "confessions of..."

ok if you thought VWs were bad NEVER BUY A MITSUBISHI!

yes, i love the lancer, the real deal is a fab car - just not one i would ever pay to keep running. Mitsus are notorious for dying right after your lease expires, and since nobody does leases anymore, you will own the ****** when it craps out, although you will get an amazing deal buying the heap of garbage.


corollas are rock-solid myra but boring as piss. consider a honda/acura if you are going the boring/dependable route. hondas at least have a soul|

Just know that "buying" a car is always a bad investment. Leasing is still a great option because you don't get stuck with the same old car if you don't want it.

Buying a car is buying a depreciating asset plain and simple, unless it's a luxury car and you're guaranteed 10+ years out of it.

quote:

Originally posted by biznology ok if you thought VWs were bad NEVER BUY A MITSUBISHI! yes, i love the lancer, the real deal is a fab car - just not one i would ever pay to keep running. Mitsus are notorious for dying right after your lease expires, and since nobody does leases anymore, you will own the ****** when it craps out, although you will get an amazing deal buying the heap of garbage. corollas are rock-solid myra but boring as piss. consider a honda/acura if you are going the boring/dependable route. hondas at least have a soul|

I just need this car to run for about 6-7 yrs. After which i will buy another car. If the car indeed craps out, that's OK. My deductible for ANY repair is only $25. Regardless if its the stock Rockford Fosgate speaker or the transmission.

Lexus IS 250

cheap, decent on gas, all wheel drive option, very smooth ride, stylish, and Lexus last forever with high resale

Now is the great time to buy certain types of car. As others have mentioned buying a new car can be a great deal due to the dealer incentives and the fact in some markets and for some marques the customers have just dried up. Additionally borrowing is exceptionally cheap at the moment, plenty of 0% deals with the US car manufacturers and my local Mercedes dealer is doing 1.9% specials. I've found that picking up a luxury car is too cheap to pass up. I've been seeing 2yr old Mercedes S and CL Class with minimal mileage that were $140,000+ new for somewhere around $40-$45k or less.

As it turns out the demand for sub $10,000 cars and used economy cars has tightened up. You might get a good deal on your VW, these are the kinds of cars that are selling well in this market.

quote:

Originally posted by Alex Just know that "buying" a car is always a bad investment. Leasing is still a great option because you don't get stuck with the same old car if you don't want it. Buying a car is buying a depreciating asset plain and simple, unless it's a luxury car and you're guaranteed 10+ years out of it.

driving cross country and leases dont mix...

don't lease... buy

+1 for honda civics or accords, boring but not as bad as a corolla and they run forever, plus you get your resale value and gas milage

i also disagree with diesel fuel,.. you cant exactly find it everywhere... suck to have to drive all over just to find that diesel gas station

quote:

Originally posted by Alex Just know that "buying" a car is always a bad investment. Leasing is still a great option because you don't get stuck with the same old car if you don't want it. Buying a car is buying a depreciating asset plain and simple, unless it's a luxury car and you're guaranteed 10+ years out of it.

both of your posts are 100% spot on

leasing is going to greatly depend on your driving habits. A person who is constantly on the road would not want to lease. Now if they just drive it once in a while, then it is not a problem.

I personally love me car. I got everything EXACTLY what i wanted in a car, 4 cyclinder (cheaper insruance + and i don't care to speed), HID lights, bluetooth, navigation w/ a bonus Music hard drive built in, 18" wheels, Traction Stability Control, and a great crash rating.

While my Lancer meets all that, it also include other great options. I cannot get that with a lease.

After doing alot of research i picked the lancer because it was the cheapest car with the amount options i can get. Is is a bad investment? I don't think so. The car does look nice and with all the options the resale value will still be decent. Plus again if the car isn't very good mechanically like some people stated, $25 for any repair with rental included is not too shabby.

Honestly though, resale value is the LEAST priority for me.

Of course driving habits play a factor.

If you commute 50 miles a day each way then by the time your lease is up you're either going to have to pay up or do something illegal like pay a guy to turn the meter back to a reasonable amount.

Funnily enough a lot of car salesmen will tell you to do just that.

quote:

Originally posted by Alex Of course driving habits play a factor. If you commute 50 miles a day each way then by the time your lease is up you're either going to have to pay up or do something illegal like pay a guy to turn the meter back to a reasonable amount. Funnily enough a lot of car salesmen will tell you to do just that.

out of curiosity what cars now don't have a digital odometer?

quote:

Originally posted by Zewad out of curiosity what cars now don't have a digital odometer?

Tons, but it is still possible to turn the digital ones back also.

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