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buying first new car

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  1. harvMC10 harvMC10 is offline

    America, IL
    United States

    Posts: 558
    Joined: Feb 09

    Apr 15th, 2011 (4/15/2011 3:25am)

    I have done quite a bit of research but it is always good to hear the OT comments and opinions

    I am 23 years old just starting out my first career in the financial field and need a car that is reliable, fuel efficient, professional, but yet has some style to it

    My price range is up to around 27-28k especially if there is a good financing deal with it and I dont want anything older than 2009 because I plan on driving a lot and having it for a long time

    So far the cars I have been looking at (at the dealerships and online) are the new Nissan Altima, Chevy Malibu LTZ, Hyundai Sonata, Honda Accord

    I am up for anyones options that fit my description even if it is a smaller SUV or a totally different car
  2. Arctic Arctic is offline

    Canada

    Posts: 420
    Joined: Feb 11

    Apr 15th, 2011 (4/15/2011 3:32am) in reply to harvMC10

    Don't finance. You are basically stuck working for someone else for however long until it is paid off. Financing a vehicle is a terrible decision, unless you paying very little of your income towards the payments.

    Aside from that... I'm guessing you guys get mad snow, if that's the case get a Subaru Impreza. More reliable then the Chevy and the Hyundai, will hold its value better then almost anything on the market. AWD helps in the winter, plus its a lot more fun to drive then the rest.
  3. harvMC10 harvMC10 is offline

    America, IL
    United States

    Posts: 558
    Joined: Feb 09

    Apr 15th, 2011 (4/15/2011 3:42am) in reply to Arctic

     
    Originally Posted by Arctic View Post

    Don't finance. You are basically stuck working for someone else for however long until it is paid off. Financing a vehicle is a terrible decision, unless you paying very little of your income towards the payments.

    Aside from that... I'm guessing you guys get mad snow, if that's the case get a Subaru Impreza. More reliable then the Chevy and the Hyundai, will hold its value better then almost anything on the market. AWD helps in the winter, plus its a lot more fun to drive then the rest.

    that subaru isn't really what I'm looking for but it definitely looks fun to drive, thanks for the advice on the financing. I have really just started looking seriously and hadn't really looked into the details of the 0% financing or anything but good to know obviously
    Thread Starter
  4. thereraise thereraise is offline

    San Diego, CA
    United States

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    Apr 15th, 2011 (4/15/2011 3:43am) in reply to harvMC10

    buy American
  5. SmokeyCasinos SmokeyCasinos is offline

    CA
    United States

    Posts: 8,014
    Joined: Mar 06

    Apr 15th, 2011 (4/15/2011 3:52am) in reply to thereraise

    I search craigslist by owner then research the cars value here http://www.edmunds.com/

    You will be surprised on what has a good resale value and what doesn't

    gl
  6. mdshack14 mdshack14 is offline

    Auburn Hills, MI
    United States

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    Apr 15th, 2011 (4/15/2011 4:05am) in reply to SmokeyCasinos

    Get a buick regal.
     
  7. donkiman donkiman is offline

    Posts: 1,332
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    Apr 15th, 2011 (4/15/2011 4:06am) in reply to mdshack14

    Of the cars you listed I would go with Honda Accord. Those things last forever and they hold their value really well. A friend of mine has a new 2dr Accord and they are really smooth. I'm sure the 4dr would be similar.
     
  8. BigGunX BigGunX is offline Mr OT Party

    Williamsburg, VA
    United States

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    Apr 15th, 2011 (4/15/2011 4:11am) in reply to donkiman

    Hyundai Sonata.
     
  9. Turt22 Turt22 is offline

    IL
    United States

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    Apr 15th, 2011 (4/15/2011 5:10am) in reply to BigGunX

    2nd that by far best deal. looks sports and stylish. pretty reasonable price.
     
    Originally Posted by BigGunX View Post

    Hyundai Sonata.

  10. perma_tilt perma_tilt is offline

    FM
    United States

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    Apr 15th, 2011 (4/15/2011 5:21am) in reply to thereraise

     
    Originally Posted by thereraise View Post

    buy American


    +11111111

    I have a 09 Malibu LTZ and they are a great car but if your headlight goes out you have to take to dealership, I spent 4 hours taking all the plastic mounting,battery and numerour other items under the hood and could not get to bracket that holds the entire headlight casing. /End of rant.
  11. harvMC10 harvMC10 is offline

    America, IL
    United States

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    Apr 15th, 2011 (4/15/2011 6:37pm) in reply to Arctic

     
    Originally Posted by Arctic View Post

    Don't finance. You are basically stuck working for someone else for however long until it is paid off. Financing a vehicle is a terrible decision, unless you paying very little of your income towards the payments.

    Aside from that... I'm guessing you guys get mad snow, if that's the case get a Subaru Impreza. More reliable then the Chevy and the Hyundai, will hold its value better then almost anything on the market. AWD helps in the winter, plus its a lot more fun to drive then the rest.


    Could someone elaborate more on why financing is a bad option.. I have one person saying one thing and another saying the opposite. If I find a 0% 60 month financing deal or like 3% financing where my loan guy said it will be 5% for 60 months through him.. What are the benefits on the loan at bank opposed to dealer financing..

    Sorry I'm a noob at the whole car thing
    Thread Starter
  12. HeyNiceAscot HeyNiceAscot is offline

    Tustin, CA
    United States

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    Apr 15th, 2011 (4/15/2011 6:47pm) in reply to harvMC10

    Financing isn't really that bad. Basically if you're looking for a car that's 27k, you can talk the dealership down and negotiate a price where 27k is your total post-interest...so somewhere in the range of 24-25k. The dealership is def fine selling at or below cost if you finance because it's another sale to increase their cash flow and they will make their money off your interest. Don't be afraid to walk away if you feel they aren't giving you a chance to negotiate. They'll call you back with a better offer every time.
  13. slapshot slapshot is offline

    Albany, NY
    United States

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    Apr 15th, 2011 (4/15/2011 6:53pm) in reply to harvMC10



    Edited By: slapshot Apr 15th, 2011 at 06:54 PM
  14. sean b sean b is offline

    Nashua, NH
    United States

    Posts: 658
    Joined: Mar 08

    Apr 15th, 2011 (4/15/2011 6:53pm) in reply to harvMC10

     
    Originally Posted by harvMC10 View Post

    I have done quite a bit of research but it is always good to hear the OT comments and opinions

    I am 23 years old just starting out my first career in the financial field and need a car that is reliable, fuel efficient, professional, but yet has some style to it

    My price range is up to around 27-28k especially if there is a good financing deal with it and I because I plan on driving a lot and havingdont want anything older than 2009 it for a long time

    So far the cars I have been looking at (at the dealerships and online) are the new Nissan Altima, Chevy Malibu LTZ, Hyundai Sonata, Honda Accord

    I am up for anyones options that fit my description even if it is a smaller SUV or a totally different car


    2011 camry
    19k-28k
    22city/33hwy
    Edited By: sean b Apr 15th, 2011 at 06:55 PM
  15. slapshot slapshot is offline

    Albany, NY
    United States

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    Apr 15th, 2011 (4/15/2011 7:00pm) in reply to slapshot

  16. STANGAA STANGAA is offline

    Coral Springs, FL
    United States

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    Apr 15th, 2011 (4/15/2011 7:15pm) in reply to slapshot

    If u can invest and earn a higher % on the money that you would have financed then the APR on the loan, finance it. If not, pay cash. Sounds confusing but its Financial leveraging.
  17. slapshot slapshot is offline

    Albany, NY
    United States

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    Apr 15th, 2011 (4/15/2011 7:18pm) in reply to sean b

  18. harvMC10 harvMC10 is offline

    America, IL
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    Apr 15th, 2011 (4/15/2011 7:26pm) in reply to STANGAA

     
    Originally Posted by STANGAA View Post

    If u can invest and earn a higher % on the money that you would have financed then the APR on the loan, finance it. If not, pay cash. Sounds confusing but its Financial leveraging.

    Pm me please
    Would like to talk more about this
    Thread Starter
  19. slapshot slapshot is offline

    Albany, NY
    United States

    Posts: 1,573
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    Apr 15th, 2011 (4/15/2011 7:28pm) in reply to harvMC10

  20. tek85 tek85 is offline

    Posts: 1,185
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    Apr 15th, 2011 (4/15/2011 8:20pm) in reply to slapshot

    Ford Fusion. You're welcome.
  21. sXeffects sXeffects is offline

    NC
    United States

    Posts: 1,769
    Joined: May 08

    Apr 15th, 2011 (4/15/2011 8:24pm) in reply to tek85

    Just bc a car is older than 09 doesn't mean it's not reliable...
  22. studogg76 studogg76 is offline

    Forked River, NJ
    United States

    Posts: 1,756
    Joined: Dec 08

    Apr 15th, 2011 (4/15/2011 8:26pm) in reply to sXeffects

    make sure the car is blue tho
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