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Buying New Vehicle
Posted on 8/15/14 at 11:49 am
Posted on 8/15/14 at 11:49 am
I'm going to be looking into buying a new vehicle (truck) in the next few months. the vehicle I am driving that I have had a while was bought from family, so I don't have too much experiene with dealers.
What are smart financial decisions/questions to consider/ask/take not of when buying a vehicle.
Looking into a used 2013ish model.
What are smart financial decisions/questions to consider/ask/take not of when buying a vehicle.
Looking into a used 2013ish model.
6
Posted on 8/15/14 at 1:17 pm to SBvital
Good, when you said new I thought you meant off the lot new, (unless you got money to burn don't do it) last vehicle I bought was a used Ford Edge Limited for the wife, 6000 miles, well equipped. Bought it from a man who works at the ford plant lived outside of the KC metro area and was having trouble selling it because it was a 45 min ride out to the small town where he lives. I sent the wife to look at the car and she liked it, went out and we settled on 28k and the thing had a 43k sticker, probably saved 2-3 grand by driving out to the country, bottom line be patient and if need be don't be afraid to drive out in the rural areas to look. 
Posted on 8/15/14 at 2:17 pm to SBvital
Buy something used, with low mileage. I probably would buy from a dealer if I were you, due to your inexperience, unless you know a mechanic or someone that can help you with a private party sale.
Research online the types of vehicles you might want, choose 3 or 4. Go take a look at them. Look online for stock (this might be harder for used).
A car is a depreciating asset. Best to buy in cash. Since this is not possible for most people, try to get as low an interest rate as you can, for as short a term as you can, no more than 48 months. Try to get financing before you go to the dealership. Talk to your bank, credit union, etc.
If you use a credit union, they often have a better extended warranty than you can get from the dealer.
Check car fax
Research online the types of vehicles you might want, choose 3 or 4. Go take a look at them. Look online for stock (this might be harder for used).
A car is a depreciating asset. Best to buy in cash. Since this is not possible for most people, try to get as low an interest rate as you can, for as short a term as you can, no more than 48 months. Try to get financing before you go to the dealership. Talk to your bank, credit union, etc.
If you use a credit union, they often have a better extended warranty than you can get from the dealer.
Check car fax
Posted on 8/15/14 at 4:03 pm to LSUFanHouston
quote:
as low an interest rate as you can, for as short a term as you can, no more than 48 months.
or 60. Why not lock yourself into a lower note; then double up if you have the cash?
Posted on 8/15/14 at 4:21 pm to SBvital
quote:
buying a new vehicle (truck)
quote:
Looking into a used 2013ish model.
Don't do that. Buy new. It will cost the same or less to buy new with all the incentives on trucks.
Posted on 8/15/14 at 4:44 pm to SBvital
Buying used doesn't seem to be worth it these days unless your credit is just crap and you just need a beater to get around.
20 years ago, there seemed to be a huge disparity in new and used prices, and you used to be able to get very nice cars at a fraction of the cost of a new one..
20 years ago, there seemed to be a huge disparity in new and used prices, and you used to be able to get very nice cars at a fraction of the cost of a new one..
This post was edited on 8/15/14 at 4:47 pm
Posted on 8/16/14 at 4:06 pm to LNCHBOX
Aint buying it, you can always choose to spend more than any vehicle is worth new or used but if you can find a for sell by owner vehicle and have cash in hand, and patience you're gonna get a better deal than a new or used car from a dealer, I quit buying new cars 12 yrs ago and have bought 3 used since that time and all cheaper than I could get from a dealer.
Posted on 8/16/14 at 4:59 pm to JoeMoTiger
With your hoard of gold, you should only buy new cars.
Posted on 8/16/14 at 6:31 pm to JoeMoTiger
quote:
Aint buying it
No skin off my back, but it's true. I could sell my 2 year old F150 for what I paid for it new right now. There is no reason to buy a 1 or two year old truck. None.
Posted on 8/16/14 at 10:10 pm to LNCHBOX
I'll buy it. Do you take gold? Lulz.
Posted on 8/17/14 at 12:47 am to LSURussian
quote:
With your hoard of gold, you should only buy new cars.
What's having gold got to do with over paying for a vehicle that will eventually be worth zippo fool!
Posted on 8/17/14 at 12:51 am to LNCHBOX
quote:
No skin off my back, but it's true. I could sell my 2 year old F150 for what I paid for it new right now. There is no reason to buy a 1 or two year old truck. None
You're either a car dealer or your dick's out son, check yourself.
This post was edited on 8/17/14 at 12:54 am
Posted on 8/17/14 at 12:58 am to JoeMoTiger
Laugh all you want. Go search autotrader for 2012 FX2 crew cabs with leather, 20 inch wheels and under 30k miles. Tell me the cheapest one within 500 miles of you. I guarantee I paid less than what you find.
Posted on 8/17/14 at 9:23 am to LNCHBOX
quote:
Laugh all you want. Go search autotrader for 2012 FX2 crew cabs with leather, 20 inch wheels and under 30k miles. Tell me the cheapest one within 500 miles of you. I guarantee I paid less than what you find.
If you got that good of deal on a new truck that it's still selling for what you paid for it 2 yrs later I apologize, but your situation is a anomaly. I can only think of a couple of things that would allow someone to sell a truck after driving it for 2yrs and then sell it for the original purchase price, 1 (you got a hell of a deal on it) 2 (a new 2014 FX2 Crew cab has increased in price by 20% or more).
Posted on 8/17/14 at 9:26 am to SBvital
If buying used the price difference between 1 year old and new isn't enough to justify it. I'd buy new or 3 year old and older used
Posted on 8/17/14 at 10:01 am to JoeMoTiger
quote:Obviously logic is not a strong point for you. Who's the fool here?
What's having gold got to do with over paying for a vehicle that will eventually be worth zippo fool!
Posted on 8/18/14 at 4:03 am to JoeMoTiger
You are dense. There is hardly and difference in price right now between new and 1 year old models.
Posted on 8/18/14 at 8:55 am to SBvital
Buying new off the lot right now with good credit is actually the better play. Used cars are not that much cheaper than new models and with interest rates as low as 1%-2%, new is the best option. Its 2014, not 2007. The economy has changed and if you have the ability to buy new, it really is the better option.
This post was edited on 8/18/14 at 9:07 am
Posted on 8/18/14 at 5:01 pm to 13SaintTiger
quote:
You are dense. There is hardly and difference in price right now between new and 1 year old models.
I don't think so, maybe it is regional or model dependent, bought the wife a 2013 Edge Limited with all the whistles and bells for 28k, had 6000 miles and showed a sticker price of approx. $43k. Purchased it from a man who worked at the local Ford plant a year ago this past July so it was 6 months old. I looked on several lots and on line at cars.com for used Mercury MKX, Explorer, Edge, and some Acadias and your right not a huge difference from new model but as I said in my earlier post patience my man, that same Edge I bought from an individual would have been several thousand more from a dealer. Here's the bottom line if you have the money, no debt and you want a new car well hell yeah get it!
Posted on 8/18/14 at 5:15 pm to LSURussian
quote:
Obviously logic is not a strong point for you. Who's the fool here?
You should have said "pretzel logic is not my strong point". Any car will eventually be worth zippo and gold has always retained some level of value for thousands of years, and FWIW gold is less than 5% of my holdings, primarily still in equities but I did take a some out when the market hit 16900 waiting for a +10% pull back, it'll happen, always does, always will.
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