I really really need a new car. Dh and I have 2 cars. One (mine) is a 95 Nissan Sentra. His is an 89 Honda Accord in great shape. I have no working A/C in mine and I live in the valley where the heat is unbearable. Ds and I are miserable driving anywhere.

Anyway, we own both of these cars. I'm 25 and never have had to make a car payment in my life, thus far. I've never bought a car either, so I really need advice on purchasing one. We don't have a ton of money in savings is I guess what I'm trying to say. Do I get a loan? I'd like a nice car, but I'm afraid of car payments and do not want to deal with repossesion. My credit is good. Any advice and or suggestions?

By Emily7 on Thursday, August 19, 2004 - 02:29 pm:

I would try to prequalify for a loan before you even start looking. That will give a starting point for the price that you can afford. We always go to the bank & say, this is what we can afford to pay per month & they tell us we can get are car priced between say $15,000 & 19,000. Car payments these days can get expensive. We are paying $300.00 a month for our van. My parents just leased a 2005 Chrysler Pacifica & are paying just under $600.00 a month.
If you buy a used vehicle make sure you do a VIN search on the intenet. Car dealerships are required by law to tell you if there has been more than I think $1000.00 worth of damage done to a vehicle. However, someone off the street is not obligated to do so. That is why a VIN check is important, it will tell you all the insurance claims that the vehicle has had.
Don't forget that your insurance will probably be higher because of a newer car.
Before you sign on the line have the car checked out by a mechanic.
Sometimes you can get good deals on a trade in, but ither times it is better to just sell your old car outright. It just depends on the dealership. If at all possible call the last owner of the car & find out why they traded it in.

By Rayanne on Thursday, August 19, 2004 - 02:38 pm:

I just bought a new Toyota 4-Runner and I am leasing it. It is soooo much cheaper this way. HTH

By Pamt on Thursday, August 19, 2004 - 05:48 pm:

If you can put pride and vanity aside, it makes much more sense financially to by a used car. We have been married 14 years and in that time purchased 2 new cars...and just this year our first used car. We will never buy new again. We have '98 LOADED (leather, air, electric everything, 5 disc CD player, etc.) Ford Explorer and got it for $6800. We had a mechanic check it out and ran a carfax to check its histoory. We are very pleased. We put about $1500 down on it and have payments of $150/month. We refuse to be held hostage to car payment. As long as you do as EMily suggested and have a mechanic check out a used car and run the VIN number you should be in good shape. Demo cars are also good deals. Just remember that when you buy a new car that the minute you pull out of the parking lot it depreciates by several thousand dollars. That's just like throwing money away. As for leasing...kind of the same thing really. You can get more car for less money but at the end of the lease you have nothing to show for it--kind of like renting versus owning a home.

Make sure you go to a reputable car dealer and don't let them pressure you. If you are feeling pressured then walk away. I would also do some research before buying and don't be swayed by impulse, esp when you see nice, new loaded cars in the display you. Edmunds.com has a wealth of information on how to buy a car, pros/cons of buying used or new, and descriptions of various makes, models, and years of cars. I'd spend some considerable time there before going out car shopping. Also, check Comsumer Reports at the library.

By Juli4 on Thursday, August 19, 2004 - 06:05 pm:

try carbuyingtips.com
Excellent information

By Tink on Thursday, August 19, 2004 - 06:14 pm:

The other tip I have is to look at previous daily rentals from a reputable rental car service. These usually have great maintanence programs and have low mileage for their age. My mom got a one year old Mitsubishi Galant with leather, 6 cd changer, and power everything for $15,000. Some credit unions will do these sales for one day or one weekend and they will help with all of your financing. It's worth looking into. Good luck with your car hunt.

By Marg on Thursday, August 19, 2004 - 06:16 pm:

The only tip I have is do a Car Fax (look up on the internet). I believe we bought a lemon when we purchased our used minivan. I wish I would have done it before purchasing, but I didn't know anything about it.

I also will buy a used vehicle over a new vehicle, unless it is a really good deal (year end deals).

By Truestori on Thursday, August 19, 2004 - 06:18 pm:

Juli,

That is a great site! Lots of information and you defintly wont get screwed!

By Nicosmom on Thursday, August 19, 2004 - 06:39 pm:

Thanks everyone! I will definitely check out all of the above sites and information. I was not planning on buying new, I know I could never afford that. Pam, it sounds like you got a great deal.

By Mrse on Friday, August 20, 2004 - 07:45 am:

I bought my 1989 dodge caravan, at a dealership, actually my sister's brother in law sold it to us, it had not been on the lot very long, it was awesome for a while, but turned out that that year the head always goes, and it did, 3 times so far. I knew this lady from work, with the same van and we compared repairs and it was exactley the same. We both felt the same way, we loved our vans but they were only on the road so long and something happened, and it was off the road for repairs. We do all the work on them ourselves so ,this time I am buying a new head, instead of a second hand one, and we will give it a go one more time, the inside is perfect and the body, and drives like a dream when it is not broken down. Even if you buy an older vehicle off a lot, you still have only x amount of days to go back to the dealership, and their is no guarentee that it was all checked out just because you get it off of a lot. We looked on the internet, and found a site where people have wrote in complaining about that year of van, sure wish we had the internet back then and did some research.

By Colette on Friday, August 20, 2004 - 09:14 am:

I agree with not getting a new car. Another site to try is www.edmunds.com for new or used car.

One option that we did - but it's kind of expensive - dh bought a 2000 certified Saab, a lot of car makers have "certified" vehicles, but so far I have not seen a certification program as good as Saab. Everything except the radio and the battery is covered to 100k - even lightbulbs. But check before you buy a certified car, some programs certify the cars BUT you have to pay a certain amount every time you bring the car in. With Saab you don't pay a thing.

By Trina~moderator on Friday, August 20, 2004 - 09:34 am:

Consumer Reports has ratings on new and used vehicles. They also have a "Used Cars to Avoid" list. We like Hondas and Toyotas because they're very reliable.

Another thing to consider:
UnsafeBelts.com

By Dawnk777 on Saturday, August 21, 2004 - 01:44 am:

When we needed a new vehicle, we just perused the used car lots. We found a 1998 Ford Taurus about 1-1/2 years ago that we just love. Only bad thing, is that earlier this year, it needed a new transmission. We did pay the freight and get it fixed. Has worked fine ever since.

By Jjandmom on Saturday, August 21, 2004 - 09:50 am:

When you are going to buy a car check out Kelly Blue Book price 1st to see what the going price is you might think you are a getting a deal till you check it out. Even when you are getting rid of yours they go back 20 years that is the best thing to do. Check that site out