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-- its that time!!!!

its that time!!!!

well I graduated college and got a JOB
Now my parents are teachers and school is about to begin and they are kicking me not just out of their cars finally but even insurance so its time for me to get my first car by the end of August!!!

Its time for some adivce from TA who have did financing before.

Situation I have 8k,make 380/week during the temp period until Nov then getting the real deal salary!

at first I was like man I will wait for the BMW and get some shit car for 3 months but in reality its not worth it. Now I went to dealerships and looked at cars that were too much or ish I did not even want. Then today at 7pm it happened. This dealer told me the top honda civic(EX) for with 3k down and its 300/month and its all mine!

Reason why it make sense to me.
1)will save mad money over the time that I have as compared to leasing a bmw or nice car for 3 years then I can afford that nice car 5 years from now or anything else.
2)I can drive 20k/year or more which I need 18/k year just for work(70 miles a day round trip)

anyone know if this sounds too good to be true, or maybe tips to lower the 300/month the dealer said for finance.

2005 Honda civic EX automatic 4 cyl. Comes with mad goodies like sun roof and 6-cd and power ish.

I have 2-3 weeks until the deadline of buying any car I need for work

save money to travel the world.

if i was you i'd just get a nice used car while you're doing that commute...until you can either move closer to work or something like that because that's a lot of miles to put on a brand new car

are you financing or leasing? leasing, imo is a waste of money.

i dont think 300 a month is bad, but you can get a crap new car and not a honda and save some money to move out of the house, b/c living at home sucks!

quote:

Originally posted by Floorfiller if i was you i'd just get a nice used car while you're doing that commute...until you can either move closer to work or something like that because that's a lot of miles to put on a brand new car

move!! man slow down!! next you'll say when I am getting married to my GF. BTW she wants a GS 300 lex suv. I told her when I get my nice car you'll get yours

quote:

Originally posted by klingklang77 are you financing or leasing? leasing, imo is a waste of money. i dont think 300 a month is bad, but you can get a crap new car and not a honda and save some money to move out of the house, b/c living at home sucks!

finance!!! 20k a year more worth it!!

the minute you drive a new car off the lot, it depreciates in value...a lot.

i'd go with floorfiller, get a used car to start out, i'm sure you could get a better deal (even with your said goodies) and then, you're not killing a brand new car driving it into the ground.

quote:

Originally posted by apostrophe the minute you drive a new car off the lot, it depreciates in value...a lot. i'd go with floorfiller, get a used car to start out, i'm sure you could get a better deal (even with your said goodies) and then, you're not killing a brand new car driving it into the ground.

I can't take that chance with a used car. Plus the warranty will last me. 70 miles a day and the car gets 400-500 per tanks so thats like 1 tank a week. Not killing the car just yet untill lets say 3-4 years but thats 3-4 years away and by that time I will have the green saved up for the better car or move or whatever I need at the time

the goodies were incentvies. but 300/month is very inticing for me because thats def affordable in my range. 1 week of work and I have payed the monthy payment. I forgot about insurance but those are twice a year. I gotta get sleep but I will def see what else people say. peace

leasing is good if you do not care about owning the car, or have the need/pleasure of changing cars every 3/4 years; without putting a lot of miles in the long run.

i personally lease, and do less than 12,000/year (usual lease mileage agreement)

at the moment i have a '05 nissan altima, but looking into changing to a 525ix.

artur

buying a new car is a great idea man. You should get a fast one with a turbo & pay massive amounts of insurance!!

You should also smoke dope. it is good for your 'image'. Chicks dig junkies. Especially if they have track marks up their arms; cooler than tatoos seriously.

Kids should never invest their money at such a young age. that is reduculas.

quote:

Originally posted by Xenocreator_PG_ save money to travel the world.

Smartest advice youll get.

eitherway you go your gonna lose money on cars. I just go for cheap new cars and finance. If you lease you will be stuck with payments forever and nothing at all in the end.


but tis not a bad deal, ya just ahve to figure in payments on your house or apartment and those bills too

My reccomendation is not to get too hung up on the monthly payment. If you are financing, make sure you are getting a decent rate. The salesman could just be telling $300/month but it's over 7 years at 21%. (I'm exaggerating of course but, you get the idea.) Also, even if you are getting a decent rate at the dealership check around at some banks and see if you can get a better rate. You might need your parents to co-sign since you are starting a new job and maybe haven't established credit yet but, whatever if it saves you some dough. Plus, if you go into the dealership with money from the bank, with intent to buy the car outright from the dealer, it gives you a little more bargaining power.

get a bike, mmmmmmm pretty, just $5k, cheaper than a new car

quote:

Originally posted by arturob leasing is good if you do not care about owning the car, or have the need/pleasure of changing cars every 3/4 years; without putting a lot of miles in the long run. i personally lease, and do less than 12,000/year (usual lease mileage agreement) at the moment i have a '05 nissan altima, but looking into changing to a 525ix. artur

i really think leasing is a waste of money. you turn in the car and in the end you dont even own it. it is good if you get a company car, b/c who cares then? and yeah you can change in a car every 3/4 years, but if you finance and you decide you want a new car after that time, then you can go and trade it in and that would count toward your new car. trade ins suck, i would just sell it on your own. but still, with leasing you pay fees and fees and in the end you turn in your car and you lease again and you pay more fees.....it is soo not worth it...

I went to edmunds.com and did a calculator of 05 ex and monthly payments were at 300 so he knew before hand if I put 3k down. How can I bargin the full price of the car down lowering the overall month payment?

i say buy a used car. and dont go for hondas. way to many on the road. i rather like the mazda 3. its not an exellent car per say. same as the civic i would say. but it looks better. and well its a smart car.

whats the diff between a samrt and dumb car?

quote:

Originally posted by Trancealot I went to edmunds.com and did a calculator of 05 ex and monthly payments were at 300 so he knew before hand if I put 3k down. How can I bargin the full price of the car down lowering the overall month payment?

Here are a couple of things you can try:

A. Ask if they offer first time buyer discounts.

B. Ask if they offer recent college grad discounts.

C. Shop around for some other cars in that same price range. Even if you have no intentions to buy them, take the info you find and present it to him. "You know, I was looking at the Corolla S and I can get one of those with all the same features for X amount less. Can you match that?" but make sure you really research it 'cause if the guys a good salesman he will know whether or not you really can get the Corolla at a beter deal.

D. The best thing though, is to be able to pay cash for the car i.e. finance it through the bank instead. Because then if the guy starts playing hardball, you can cut to the chase and say "Look, I'm ready to pay cash for the car, right now. Let's make a deal." You just have more bargaining power that way than if you have to get approval from the finance department. Just don't walk in there first thing and tell them you're ready to pay cash first thing, if you decide to do that. Hold that as your ace in the hole.

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