Decisions, Decisions, Decisions...

Discussion in 'Motorized Vehicles' started by hizzaah, Jan 25, 2014.

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  1. Rykoshet

    Rykoshet Notebook Deity

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    Sorry to hijack this thread -- but when you have made a decision let us know! I am in the same boat, trying to buy a car for <10k. Looking for something comfortable and fun to drive on road trips and to work and maintain for 5 years with low costs. Only 2 of us and no desire for kids, so a spacious coupe is fine. Or a 4-door.

    I'm a big fan of Hyundai (2006 Sonata going strong...) so that is our first choice, but with cars there are sometimes hit-or-miss years, and I'm hoping someone has helpful news about an Elantra/Genesis coupe (2008-onwards).

    I'm from Ontario, so I think most of our cars are designed in the the Alabama plant...
     
  2. booboo12

    booboo12 Notebook Prophet

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    Elantra has been pretty solid in terms of reliability. While it won't set your heart a'fire (the exception possibly being the Elantra Touring..that was a rebadged i30 so it drove surprisingly well) in terms of the drive, its a refined and quiet package.

    I don't know much about the Genesis Coupe as far as reliability goes. The interior material choices are a tad disappointing for a car with the Genesis nameplate but they've improved it over the years.

    Hyundai builds Sonata and Elantra in the Alabama plant at the moment IIRC. Perhaps Santa Fe again as well.

    Sent from my Nexus 5 using Tapatalk
     
  3. booboo12

    booboo12 Notebook Prophet

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    Sorry for the late reply, I was actually looking for this post w/out realizing I had posted in this thread after your quote already.

    Good point lol, it just took a very long time then for it to hit mass market stuff in the states.

    Sent from my Nexus 5 using Tapatalk
     
  4. Rykoshet

    Rykoshet Notebook Deity

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    Cool. I have read a bit about the Genesis Coupe and was "meh'd" so I think I will pass, for that money.

    But now I am seriously considering a 2006 Subaru Impreza WRX, which is the same price insurance-wise as a 2009 Elantra Touring 5L.

    I have heard the Subaru is a lot of fun to drive which is something my wife and I would be really happy about, but in terms of Canada, most of the driving is straight highway driving between 80-120km, so "fun" isn't really that big a priority.

    Suggestions???
     
  5. booboo12

    booboo12 Notebook Prophet

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    Make sure the WRX wasn't ragged on and beat to hell, ask for maintenance records if possible. If you're willing to deal with the compromises (less refinement than a lower strung standard compact car) then it'll likely be a very fun car to own. I'd lurk on owner forums maybe to see what they think, I admittedly don't know much about Subarus beyond the basics.

    Sent from my Nexus 5 using Tapatalk
     
  6. hizzaah

    hizzaah Notebook Virtuoso

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    Headed to Austin Friday morning to get my car shopping on! Hopefully "The Pill" makes it that far without incident..
     
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  7. hizzaah

    hizzaah Notebook Virtuoso

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    Quick question: I intended on just applying for financing though the dealer, but now I'm thinking I should try to get pre approved at a local credit union first. Good idea? Do I ask for the full amount to be safe or the amount minus my down-payment? If I do apply through the credit union, how much will it ding my credit score for when I go to apply at the dealership?
     
  8. knight427

    knight427 theenemysgateisdown

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    100% yes, do apply at the credit union. It gives you more negotiating leverage.

    Note that your credit score isn't directly proportional to the rate you get. It's not like moving your score +/- 10 points is going to change anything. I guess maybe if you are on-the-edge it could, but it seems like you are better off getting pre-approved from a trusted source so you know what your credit worthiness really is.

    The F&I guy at the dealer is out to completely screw you every which way with a giant poop-eating grin on his face the whole time. When they ask about financing, tell them you'll consider their offer, but you already have financing lined up. When they ask you what rate you got, tell them you'll consider their very best offer (don't tell them the rate).

    When you go to the credit union, they are going to assume you already know what car you are buying. I can't remember exactly how it worked last time I did that, but they should be able to get your application started and let you know what rate you qualify for and if there is any limit on how much you can borrow given your current debt-to-income ratio. I suspect their better rates assume a reasonable down payment (note that trade-in functions the same as down payment), so get that cleared up so you know what you can afford before you even get to the dealer. Usually they will break this down into $x per y-thousand borrowed. This makes estimating payments really easy while you are negotiation to make sure you are in the ballpark.

    Also, the car sales person is going to try to get you give him/her a monthly payment number to work with. Again, this is a ploy to set the deal up for maximum extraction of profit from you. Just tell them you can compute your own payments and won't be considering any cars or deals you can't afford. All you need from them is the purchase price and trade-in value and you should be ready to compute the payments yourself.
     
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  9. booboo12

    booboo12 Notebook Prophet

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    Its almost always a good idea to go with what your credit union or bank offers over the dealership/corporate captive financing arm.

    The biggest benefit is that it allows you to go into negotiations focused on the bottom line: the final purchase price. The dealership will otherwise likely try to ask you about "what payment are you looking at." Don't fall for this trap. Stick to your guns and negotiate based on purchase price.

    When you apply at the credit union, they'll likely give you a blank check (so to speak) so you won't have to worry about what to write it out for at the dealership.

    Apply at the union first then if and only if you think you can do better by applying for financing at the dealership (in most cases not so much...) do that as well.

    You should check out these Edmunds guides to buying a new car. They cover it all and I find them helpful. In particular, the third link goes into detail about how financing from a bank/credit union works vs. financing at the dealer.

    http://www.edmunds.com/car-buying/first-time-new-car-buyer-guide.html


    http://www.edmunds.com/car-buying/10-steps-to-buying-a-new-car.html

    http://www.edmunds.com/car-loan/car-financing-options.html


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    Edit: ninja'd by Knight lol
     
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  10. hizzaah

    hizzaah Notebook Virtuoso

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    Perfect, thanks guys!
     
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