Should I even consider buying a new car?
By Cars & Motorcycles on Apr 30, 2009 with Comments 6
lala2007 asked: I am a twenty year old junior in college who only makes about 1000 a month. My car is holding up okay, but I know that I will need a new one within the next two years or so. I know it would be impulsive and stupid to try to take on a car payment right now, but does anyone have any advice on how to save for a car? I am a shopaholic, and could probably save a lot if I could curb my shopping habits. I would really like to have a new car within the next couple of years, and hopefully a nice car. There has to be a way to accomplish this!
Filed Under: Buying New Car
About the Author:
just ask your parents to buy you one.
just start putting back so much a week or a month,and pretend you don’t have the money,put it up and don’t use it for nothing,after a while you,ll get use to doing this,and you wont miss it,and sooner than than you think it will add up, we did this for twenty years and bought and paid for a new house,so i know it works,do the same on a car,and regardless of what happens don’t go in to the money,pretend like basically it doesn’t exist,and you,ll do alright,good luck on it.
Never buy new NEVER. You loose too much money when you drive it off the lot. You can save thousands by buying a car thats a year or two old and it will still have low miles..Also Never buy a first run car as the bugs aren’t worked out yet. A one or two year old car may still have the original warranty on it as a lot of new cars have 100,000 transferable warranties. Always do your research. Look up opinions on stuff on Epinions,com from people that have bought it before you.
You’re in college! Keep the beater until it dies, then donate it to an organiztion that takes them for a tax deduction. Then, look at one of the many new cars with longer factory warranties with rebates. You’ll be glad you held off. BTW, look closer at European and Asian.
I have been the car biz for 29 years for most of that time I have leased new cars and trucks. your 39 month payment will be less than if you finance for 60 months. Also at the end of the 39 months you will owe nothing to carry over to your next one, If you buy, you will still owe thousands on a car that is not worth what you owe
Look at it this way. Buying a car is a loss. It never appreciates in value, it doesn’t get more reliable with age, and it COSTS MONEY TO OPERATE.
The only exception to this rule is classic hot rods an such. They tend to increase in value, like so many other types of collector’s items.
Make sure parts are available for it, are cheap, and tires are under 16″ in diameter. (big rubber costs big bucks)
High end luxury cars are out. As are sportscars. Custom needs = custom prices. And no one but the dealer has the parts. So bend over if you buy one.
Now, for the hardest part……it it easy to work on? (aka…cheap labor times)
Shop around for estimates on replacing certain parts on the car in question. Ask about the water pump…….fuel pump…….alternator and starter. These are common fail items.
So far…..hondas and toyotas are the most reliable ……for now.