Advice on new car

Discussion in 'Motorized Vehicles' started by Ayle, Jun 19, 2010.

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  1. Ayle

    Ayle Trailblazer

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    Hi, I've almost saved $2k as the down payment for this. It will be my 1st car. Do you think $2k would be enough? What should I ask the dealer when I get there? The mileage seems decent for a 4 year old car. Also does anyone know if there any differences between the insurance premiums on the base Impreza vs the WRX or STi?
     
  2. aan310

    aan310 Notebook Virtuoso

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    for the insurance, you can actually call your insurer and ask, or if you dont have one just do quotes for the three different trims.

    but i do know that a civic SI is more to insure than a EX
     
  3. MAA83

    MAA83 Notebook Evangelist

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    Weather 2k is enough for a down payment or not depends on the interest rate you're getting on your financing and how many months your loan is. Have you applied yet via the dealership or your bank/CU?
     
  4. Ayle

    Ayle Trailblazer

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    Which is better my bank or the dealership?
     
  5. FXi

    FXi Notebook Deity

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    Always have your bank as a backup. Dealer may have a good deal, but you won't know until you have a comparison, and you are far better off having one of those ahead of time.
     
  6. MAA83

    MAA83 Notebook Evangelist

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    In my experiences, banks, especially smaller local banks if you bank with one, give better rates, and are more willing to offer auto loans to members than dealerships are to customers. Check out both though. Compare.
     
  7. booboo12

    booboo12 Notebook Prophet

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    Yeah, the buying process is a lot easier if you get financed via your bank first. That way you can focus more easily on the transaction price of the car, instead of being hooked into the whole "what payment per month are you after?" scheme.

    Here's good advice/articles regarding the used car buying process:

    10 Steps to Buying a Used Car

    Also, Edmunds' "Confessions" series is a great read which can provide you with some insight into the process:

    Confessions of a Car Salesman

    If you decide to forgo getting outside financing, you should familiarize yourself with the "Four-Square" tool sales people use to "work the numbers. " If you don't carefully look over it, you could be leaving money on the table:

    Four-Square Basics

    As for general things to ask when you get there, take a look around the car. Do all the exterior panels appear evenly matched and lined up? Ask about a maintenance history and request a vehicle history report. During the drive, drive with the radio off (test this while parked before or after) so you can keep an eye out for strange noises, squeaks and rattles. When you turn the car on, ensure that all warning lights go out in the instrument cluster. There's more tips for things to look for at the links i gave you.

    Good luck! Keep us posted! :D
     
  8. Ayle

    Ayle Trailblazer

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    Hmm... I'm a BoA customer. And the dealership where the Impreza is for Sale isn't on their list of authorized dealer... One good thing tho is that the dealer that is just across the street from my place is and they have a GTI, 20k Mi, for $14k.

    One last question. If you are on a commission based pay, what do you put in the yearly salary?
     
  9. linuxwanabe

    linuxwanabe Notebook Evangelist

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    1. Avoid that Impreza - those aftermarket rims make me suspect that the previous owner might have driven that car very hard. Do you want to pay out of pocket for a clutch, something that is never covered by warranty? Used Subarus are always overpriced.

    2. Avoid any used GTI. VeeDubs aren't exactly the most reliable cars to begin with, and the performance nameplate attracts enthusiastic drivers.

    3. Consider buying a new Impreza or Golf. Go for a base model, avoid options and you aren't paying much more than these well used, potentially problematic cars. Keep in mind that since you're looking for a stick, warranties don't cover clutch pads. This is a real problem with used cars, since most Americans don't know how to drive stick to begin with, and performance enthusiasts tend to abuse clutches.

    4. Dealers can offer you cheaper financing than retail banks. The only problem is that the deal can add an additional 3% to your loan rate. In some states, the dealer isn't even limited to 3% - the sky's the limit. You can pretty much assume that the dealer is adding at least 3%. This is how they make money on financing.

    5. For a first time car buyer, one of the best ways of protecting yourself is to find a first time carbuyer financing program on a NEW car. Some manufacturer financing arms have these special programs. Of course, don't trust a dealer to tell you about it.

    6. Don't tell the dealer about your $2,000 down until after you've made your best deal. First negotiate your price, then negotiate financing terms, get approved, and last of all, bring up the $2,000. If the dealer know you have money down, they will view YOUR money down as their profit margin. Beware.
     
  10. Muscle Master

    Muscle Master Notebook Consultant

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    :rolleyes:
     
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