Please let me vent my car frustations

[MonkeyMama]

On the rentals - to be clear, that is why I specified lower mileage vehicles that are less popular. No one is joy riding them and they don't need any work. GREAT buys. There are several vehicles I would NEVER buy if it was a prior rental. I clarify because let it be clear that I don't think buying a Prius or a Camaro is a good idea - if it was a rental. OF course, the terrible buys tend to be high mileage and so aren't a good deal anyway. Then you just get a car with high mileage that has been used and abused, and is way over-priced. I wanted to be clear that is not something I recommend!

I think ANY used car should be checked out by a trusted mechanic.

[LivingAlmostLarge]

We couldn't find where we live a 2 year old subaru that cost less than what we bought our new one for. I had been searching for 6 months and had many friends tell me that it couldn't be done. Problem? Demand in the area. People love and keep them and drives the prices ridiculously up. Elsewhere? Probably. But in CA when we lived there Honda Civics were ridiculously overpriced used.

[JustBill]

For the first time I am seriously considering a new car. With my down payment/trade in, I could buy a relatively affordable new car (say a Hyundai Accent or Honda Fit), get a warranty, and keep payments well under the recommendations. I could finance for 3 years with payments less than $250, which is well within my budget. I would also save upwards of $100/month on gas, which I would put back into the car payment to pay it off within 2 years.

Ugh. As much as I hate buying new, I am really tempted.

Thoughts?

Whoa, don't hate buying a new car. If you feel certain you have steady employment ahead of you, you're already going to add the gasoline savings to the payment, and as much as I NEVER THINK ONE SHOULD HAVE A CAR PAYMENT, I'd buy the Honda. You'll have no out of pocket repair expenses for the life of the loan (unless you suddenly go nuts with mileage and outrun the warranty), you likely would have some repair cost on the 185k truck, plus you'll save on rental car cost, and possibly on insurance on a newer, more safety feature rich vehicle. You're close to doing the deal in cash, I would encourage you to stretch to make that happen if possible. Otherwise, enjoy the car.

[dojo]

I bought a new car in 2008. It was around 13,000 Euro. 4 years to pay it, around 250/month. I LOVE IT. Don't quite enjoy having the payments, but in 4 months I'm done with it. I don't regret the car though. It had 4 km on it, when I got it, brand new. It's got just over 20,000 km in 4 years (I don't drive it a lot), so it would be with me for the next 10 years, since I really take care of it. A new car is pricey, but in my case it really came with zero problems.

[disneysteve]

We couldn't find where we live a 2 year old subaru that cost less than what we bought our new one for. I had been searching for 6 months and had many friends tell me that it couldn't be done. Problem? Demand in the area. People love and keep them and drives the prices ridiculously up. Elsewhere? Probably. But in CA when we lived there Honda Civics were ridiculously overpriced used.

One thing that is often forgotten on message boards is regional issues. I live in the Philadelphia metro area. I can search for pretty much any make or model and find pages of them for sale. But in other areas, the supply is much more limited. Prices also vary by region for the exact same vehicle.

[BMEPhDinCO]

Sounds like your area is hard hit for good used cars - it happens! For $10k, you could get a relatively new honda civic or toyota - some dealers might have them, and you can haggle with the dealers since DO have a car (don't tell them the details about it). As for looking at cars, ask them to bring the car to a public place, such as your mechanic's location - tell them you'll even chip in for their gas ($10 max).

If you are careful, you can get a new Nissian Versa or similar smaller cars (besides the Fit) for around $10-13k and having to borrow $3k (or raid your other funds) wouldn't be the worst thing.

I got my last car from the dealer - it was a 2010 (I got it last march) but because it was the last year's model, it was cheaper but I still got the warranty (helpful when the A/C vent broke) and that might be worth it to you with long drives.

Look up the car's VIN as well as getting an estimated value from KBB and NADA before you buy and good luck!

[BuckyBadger]

In the case you are describing, I would have no problem buying a reasonably priced new car. A few years ago we went in with the intention of buying a used Honda and we ended up with a new one. The numbers just made more sense.

No shame in that! Used cars are in kind of a weird place right now...

[Emerald]

It's been 11 years since I bought a car, so I can't really compare today's car market to previous years. With used cars, there seems to be more newer cars (1-2 years) and much older cars (8-12 years), but fewer mid range vehicles (3-6 years). I'm not sure if this is typical. I'm assuming folks are holding onto their paid for vehicles in good working condition.

In general though, there seems to be a glut in hatchbacks/wagons overall, even on dealer lots. My local Hyundai dealership has no Accents in stock, the Honda dealership has 1 Fit. So much for my weekend test drive.

[LivingAlmostLarge]

It is the sweet spot I think is 3-5 years but those are hard to come by nowadays. And honestly I hesitate with 1-3 years because I feel they are mostly lemons people try to ditch but 3-5 years people are bored with them and off lease.

[Emerald]

Update-

I've been nursing my truck for the last several months, hoping the transmission would hold out. Yesterday it finally bit the dust so to speak.

I had narrowed my search to Honda Fits and Hyundai Accents. I ended up purchasing a new Hyundai for less money than the used Fits were selling in my area. I got a better warranty also. I debated paying cash, but couldn't quite turn down 3 years/1.9% financing and keeping my money in the bank. When I sell my truck I should be able to pay off most of the loan, or keep the money in the bank as an added cushion.

Here's to 12+ more years of uneventful driving (fingers crossed).

[bjl584]

Update-

I've been nursing my truck for the last several months, hoping the transmission would hold out. Yesterday it finally bit the dust so to speak.

I had narrowed my search to Honda Fits and Hyundai Accents. I ended up purchasing a new Hyundai for less money than the used Fits were selling in my area. I got a better warranty also. I debated paying cash, but couldn't quite turn down 3 years/1.9% financing and keeping my money in the bank. When I sell my truck I should be able to pay off most of the loan, or keep the money in the bank as an added cushion.

Here's to 12+ more years of uneventful driving (fingers crossed).

I used to own a Hyundai, and overall it was a great vehicle. I bought one brand new and drove it well over 100,000 miles and only had minor issues with it (the power mirrors stopped working, and some of the dashlights burned out.) Other than that, all that I ever did was basic maintanence (oil changes, tires, brakes, tune-ups.)

[woodie96]

BJL...I think that is THE KEY FACTOR in how long a car will last....Maintenance...
If I buy a car and let things start breaking and not addressing those issues, then before long I will have a bucket of bolts to drive.
After 20+ years in the Navy as a helicopter mechanic....Preventative Maintenance pays off in the long run.

[Christian321]

do not get a loan. Buy a cheaper car with cash. I purchased a 1999 Nissan Altima 4 years ago with 87,000 miles fore $2800. Still driving it with 143,000 miles. Not having a car payment is great. Rule of thumb, never make payments on anything that loses value (with the exception of a mortgage which can sometimes be unavoidable depending on market conditions)

Bottomline: don't feel like you have to spend $10,000 or more to get a reliable car.