First  Prev  1  2  3  4  5  6  7  Next  Last
Post Reply Buying Your 1st New Car :)
1503 cr points
Send Message: Send PM GB Post
Offline
Posted 3/10/17
Honestly, I don't think I'll ever buy a new car. Used vehicles are cheaper, depreciate a little slower, and mean I'm not contributing to waste as much.
Posted 3/10/17
snap
12368 cr points
Send Message: Send PM GB Post
Offline
Posted 3/10/17
A huge part of the problem with buying a car, new or used, are the fees and financing charges plus the predatory interest rates. With new vehicles, the problems are orders of magnitude worse than with used vehicles but they're still a problem for both.

Pro Tip: If you do buy a new car, try like heck to make the payments for at least 910 days after the purchase. That way, if you do find the debt is crushing your soul, you can at least cram down the value of the vehicle in bankruptcy! Also, drive A LOT. The more miles the better!

Since the car depreciates in value significantly over time to begin with, and since high mileage greatly reduces the value, if you can get past the 910 rule then you can cram down the car's valuation and shrink your secured debt significantly. With the right Chapter 13 plan, you could turn what appears to be a tens-of-thousands-of-dollars debt into a few thousand secured and 1% of whatever is left as the unsecured. In other words, you keep your car and eliminate the majority of your debt generally.

You just have to survive the 910 rule. Make payments for 2 years and seven months, or at least pay and then draw out nonpayment the last couple of months, and you should be golden. Bankruptcy is much less painful than people think unless you're completely dependent on credit and loans to survive.
13773 cr points
Send Message: Send PM GB Post
22 / M / Cucumber Town
Offline
Posted 3/10/17
My first car is actually the one i am drinving right now, it's my boyfriend car. He drives a Hummer H2 it's such a great car !
4309 cr points
Send Message: Send PM GB Post
23 / M
Offline
Posted 3/10/17
My father really drilled into me that I should save and buy my own car(s) outright rather than get a loan. And that's how I got my car. My budget WAS 10k but the car I ended up going with was like 7k (list price). And guess how much was paid for the car? 7k. We (Mom Dad and I) walked out the door because they wouldn't drop below 8, we were in the car and they were still on us, it wasn't until the engine revved that they said "Okay we'll do 7." So I now have an 08 Tiburon GS with about 75k miles on it. I like it overall but I would like to do something about the front, the nose looks stupid imo, primarily because it has a spot to put a stupid plate. Would like to have different headlights too.

I got a coupe because I was operating under the logic of "f*** the passengers." Hey at least I will be the only person (hopefully ever) to be driving MY car. And as long as I don't have more than 3 people I am comfortable.

Preferably my next car will be RWD/AWD import muscle or a Corvette.
3527 cr points
Send Message: Send PM GB Post
Offline
Posted 3/10/17 , edited 3/11/17
after 2-3 hours going back and forth with 5-6 local dealers via email and phone... i got the out the door price for the car i want :)

2017 Mazda 3 hatchback automatic transmission- white (ext) black (int) for $18,850 out the door finance through Mazda (chase or local credit union)

while the prices here do not include tax,license and fees


the last steps would be going through their finance department

i have to get a pre-approved auto loan from a local credit union before heading there.

i heard the finance department is where car dealer will make most of the profits from a car sale.. so i have to see what they will do..


**updated**

i got another offer $18,599 out the door ! i guess you don't know how low they will go when you have them competing against each other

and this just from sitting in front of a computer and talking on the phone for a few hours.. sure beat driving around like what my parents used to do..

84848 cr points
Send Message: Send PM GB Post
40 / M
Online
Posted 3/11/17 , edited 3/11/17
I bought my first new car about 10 years ago. I went into the dealer, having looked into the car I wanted and determined the price I wanted to pay, and told them what I would give them for it. They happened to have a program car with 20,000 miles on it for that price and tried to get me to go with that car, but I wouldn't budge on which car or the price. They were more receptive once they found out I worked for a financial institution, whether because they thought that it would be more likely I would be able to get financing, or thought they could make connections (which they probably couldn't), and I got the price I asked for, $27,000. The car was a new year model (model year of the coming year), with 0 miles. I specifically wanted a vehicle with no miles and new, because I wanted a lengthy warranty (after my last car cost me a bundle in repair charges) and I don't drive much. It currently has about 56,000 miles on it now. There has only been a couple issues that needed to be addressed, namely that the alternator had to be replaced recently and the other that the tires that came with it were absolute garbage and only lasted about a year even with how infrequently I drive. Total cost of ownership (depreciation, gas, repairs, and maintenance) over the last 10 years has probably still been less than $35,000, with almost a third of that in gas. I'll probably be using the car for at least the next 10 years as well.

Buying a new car can make sense if you are going to use it for a long time. You don't have to worry about how someone else treated the car, you aren't inheriting the excessive mileage from the prior owner, and it decreases the affect of the first year depreciation. If you are going to churn through it tearing up the mileage, then it is a terrible decision to buy new, unless you just have tons of money you want to burn.
3527 cr points
Send Message: Send PM GB Post
Offline
Posted 3/11/17 , edited 3/11/17


a new car with 0 mile? that's rare..

usually they will have a few miles on them.. the car i'm looking at already have 10 miles on it..

speaking of which.. what's the limit for the # of miles on a new car to be considered as NEW ?

any dealer out there trying to sell you a test car as NEW ?
84848 cr points
Send Message: Send PM GB Post
40 / M
Online
Posted 3/11/17

dulun18 wrote:

a new car with 0 mile? that's rare..

usually they will have a few miles on them.. the car i'm looking at already have 10 miles on it..

speaking of which.. what's the limit for the # of miles on a new car to be considered as NEW ?

any dealer out there trying to sell you a test car as NEW ?


It may have had a few miles on it, but it was negligible. 10 miles is negligible.
89846 cr points
Send Message: Send PM GB Post
28 / M / Louisville, KY
Online
Posted 3/11/17 , edited 3/11/17

dulun18 wrote:

after 2-3 hours going back and forth with 5-6 local dealers via email and phone... i got the out the door price for the car i want :)

2017 Mazda 3 hatchback automatic transmission- white (ext) black (int) for $18,850 out the door finance through Mazda (chase or local credit union)

while the prices here do not include tax,license and fees


the last steps would be going through their finance department

i have to get a pre-approved auto loan from a local credit union before heading there.

i heard the finance department is where car dealer will make most of the profits from a car sale.. so i have to see what they will do..


**updated**

i got another offer $18,599 out the door ! i guess you don't know how low they will go when you have them competing against each other

and this just from sitting in front of a computer and talking on the phone for a few hours.. sure beat driving around like what my parents used to do..



That is pretty darn good. I paid $21,500 OTD for my 2016 Mazda3 Sedan i Sport 4-Door (Soul Red Metallic) with the Appearance Package. When I got $21,500 they said that they were losing $800 from their purchase price but since the car was a demo car (only 250 miles on it) they said they decided to take that $800 hit. I had a strong feeling they were just trying to make me feel bad into giving them more money, but seeing your price I realize I had much more wiggle room. The originally wanted $24,575 OTD for my car so I thought $21,500 was fair (and according to TrueCar, KBB, and Edmunds $21,500 was about average paid back when I bought it on 12/26/2015. I also got the Navigation System (so without that I would have paid around $21,000). I think the hatchback version looks ugly, but it seems they are pretty popular for some reason (no idea why) but I am surprised you got it for so much less than my sedan version. Did you get the Appearance Package or is it standard hatchback? Even without the Appearance Package I would have only gotten it down to $19,750 or $19,250 without Navigation as well. For the hatchback they wanted $2,000 more, that was never something I was looking at so I instantly declined to even look at them.

Can you let me know what Zip Code you got this from and your state tax rate? I'm curious if it is lower than my tax rate (6%) or if maybe your area sells much more cars so they have more wiggle room or something. Also, let me know when you get it and confirm your OTD cost was indeed $18,850 or if that is just what they told you over the phone.


a new car with 0 mile? that's rare..

usually they will have a few miles on them.. the car i'm looking at already have 10 miles on it..

speaking of which.. what's the limit for the # of miles on a new car to be considered as NEW ?

any dealer out there trying to sell you a test car as NEW ? :mellow:


A dealership may legally sell a car as new so long as there was no title transfer. If the dealership was the first title-holder then they can sell it as new.
3527 cr points
Send Message: Send PM GB Post
Offline
Posted 3/11/17 , edited 3/11/17

Khaltazar wrote:

That is pretty darn good. I paid $21,500 OTD for my 2016 Mazda3 Sedan i Sport 4-Door (Soul Red Metallic) with the Appearance Package. When I got $21,500 they said that they were losing $800 from their purchase price but since the car was a demo car (only 250 miles on it) they said they decided to take that $800 hit. I had a strong feeling they were just trying to make me feel bad into giving them more money, but seeing your price I realize I had much more wiggle room. The originally wanted $24,575 OTD for my car so I thought $21,500 was fair (and according to TrueCar, KBB, and Edmunds $21,500 was about average paid back when I bought it on 12/26/2015. I also got the Navigation System (so without that I would have paid around $21,000). I think the hatchback version looks ugly, but it seems they are pretty popular for some reason (no idea why) but I am surprised you got it for so much less than my sedan version. Did you get the Appearance Package or is it standard hatchback? Even without the Appearance Package I would have only gotten it down to $19,750 or $19,250 without Navigation as well. For the hatchback they wanted $2,000 more, that was never something I was looking at so I instantly declined to even look at them.

Can you let me know what Zip Code you got this from and your state tax rate? I'm curious if it is lower than my tax rate (6%) or if maybe your area sells much more cars so they have more wiggle room or something. Also, let me know when you get it and confirm your OTD cost was indeed $18,850 or if that is just what they told you over the phone.

A dealership may legally sell a car as new so long as there was no title transfer. If the dealership was the first title-holder then they can sell it as new.



i updated the post.. i got another offer from a dealer that is closer for $18,599 out the door. i got it in writing (email/text) but i have to finance through chase to get that price

i'll know the actual price by tomorrow.. whatever rate they will give me does not matter (shouldn't be higher than 3%) -- i plan to pay this car off within the next 6 months anyway.. i'll check to see if there will be any application fee or prepayment penalty as well..

i'll have a total cost tomorrow (if the deal went through just fine)

for the best car deal i would say to check prices online first before heading there-- email/text/phone.. there's no need wasting time driving around anymore..

the best deals will be when you have them compete for your money like what i'm doing

i started out with 5-6 dealers.. now I'm down to 2 best offers

$18,599 the out the door is price for the 2017 Mazda 3 hatchback automatic transmission- white (ext) black (int)

and i started out with $19,863 -- without tax, license and fees included

the dealer is about 1 hour drive from me though.. the zip code of the dealer is 85023

i asked for out the door price right off the bat so i don't know how much was the tax/license or the doc fee either

but from what i learned.. the best deal will be outside of your city.. just check the same car but using a different zip code and you will see the price difference just from changing the zip code . I think this is why some dealers backed out when the price dropped below $19325 out the door and some remained

the good time to buy a car is the last few days of the month when they have to meet their quota-- while the great time to buy a car is the last week of the current year! by then the next year model is already out + end of the month etc..

i tried KBB but they are not the best.. if you are using them.. i would say the price you want is the unusually low price part of the graph..

don't offer them $100 over factory invoice (it's a ripped off)-- i would never pay msrp or factory invoice price
start low and ask them if they can beat the current offer-- going back and forth like this with multiple dealers

when you have some of them backing out after a certain price.. you are gettting to the sweet spot!

89846 cr points
Send Message: Send PM GB Post
28 / M / Louisville, KY
Online
Posted 3/11/17 , edited 3/11/17


Hopefully they didn't give you their selling price without tax, title, and documentation fee included. They did that for me when I asked for the OTD cost in person. They brought over a paper with prices and they pointed to the price of $18,725 as their OTD cost. I said, okay, I will do that price. Then the guy took it to the manager and came back and said "I forgot to tell you that this price is our sell price, but does not include tax, title, and documentation fee. You're actually looking at $21,500. I love my Mazda3, I paid mine off in 8 months. I did research on the car for months before I finally decided to buy it. Welcome pretty soon fellow Mazda3 owner. This is your first new car as well? I upgraded from a junky 1989 Lincoln Mark VII that stalled constantly while driving (when turning left or right or going over a hill) so I really enjoyed upgrading to a new car, it was a much welcome improvement. Let me know how it goes tomorrow. :)

Edit: I saw your edit and that is probably why I didn't get a price like yours, I went to a big dealership near where I work that sells every type of car they are like a mall for cars, Mazda lot, Toyota lot next door, Honda lot across from there, Hyundai lot, Ford lot, Scion lot, etc. I probably could have gotten a better price if I went to Lexington or Cincinnati (I got my car from Louisville, KY).
116554 cr points
Send Message: Send PM GB Post
70 / M / Columbia, MO
Offline
Posted 3/11/17 , edited 3/11/17
Started shopping for a replacement car 1996-1997 since 1983 Mazda RX-7 had 256K miles on rotary and 1 qt motor oil / 100 miles consumption (throwing out) was starting to bother me. I went to my local sports car repair guy and suggested replacement factory rotary whereupon he looked at me and said :"This car is tired, Ken." "It will eat you alive in parts, some no longer attainable used." Thankfully, I had past experience with a British car that literally ate my lunch after restoration just keeping it running, roadworthy. I'll never own another Brit-made car as long as I live bc of that. Dealer trade-in for Mazda was out of the question so I sold it to an acquaintance for $50 cash as long as he drove it away on its own (lived in KS).

Learned a lot dealing with car dealers when I bought the Mazda 2nd hand so really wasn't ecstatic searching out another car from one.

After test-driving many makes, models, years' old and checking Edmunds & Kelly Bluebook I chose a then new 1997 Ford Explorer XLT 4-dr 4WD, paid cash out of state, paid taxes on vehicle in resident state. It has been the best vehicle I've ever owned. It has 266K miles on it atm, replaced factory install tranny with a used 1 (Cash for Clunkers has really affected used parts prices....had to wait 5 weeks finding a replacement) last year, front grill is a duct tape restore repair thanks to 1 deer I smacked into 45 mph over 9 years ago. Front grill replacement is cheap but labor putting it in is not so I rely on redneck peckerwood duct tape appeal rather than operating "like new". Intent is to drive it until it either gets T-boned or parts cannot be found. Do my best to keep this Ford in shape. Bought new plugs last year (3rd set since new), same re tires. Plan to replace motor if and when it fails as replacement as I find pre-own Explorers are just too pricey once insurance premiums and property taxes are taken into consideration.
3527 cr points
Send Message: Send PM GB Post
Offline
Posted 3/11/17

Khaltazar wrote:

Hopefully they didn't give you their selling price without tax, title, and documentation fee included. They did that for me when I asked for the OTD cost in person. They brought over a paper with prices and they pointed to the price of $18,725 as their OTD cost. I said, okay, I will do that price. Then the guy took it to the manager and came back and said "I forgot to tell you that this price is our sell price, but does not include tax, title, and documentation fee. You're actually looking at $21,500. I love my Mazda3, I paid mine off in 8 months. I did research on the car for months before I finally decided to buy it. Welcome pretty soon fellow Mazda3 owner. This is your first new car as well? I upgraded from a junky 1989 Lincoln Mark VII that stalled constantly while driving (when turning left or right or going over a hill) so I really enjoyed upgrading to a new car, it was a much welcome improvement. Let me know how it goes tomorrow. :)

Edit: I saw your edit and that is probably why I didn't get a price like yours, I went to a big dealership near where I work that sells every type of car they are like a mall for cars, Mazda lot, Toyota lot next door, Honda lot across from there, Hyundai lot, Ford lot, Scion lot, etc. I probably could have gotten a better price if I went to Lexington or Cincinnati (I got my car from Louisville, KY).


i think it's universal for most people that "out the door" = the price of the car + tax,license and fees-- it's the price you will pay in total to get out of the door with the car. (well since i'm financing i'll be paying a bit of interests on the amount..you will save even more if you can pay off in the car in cash (not possible for me atm) but it's still a pretty dang good deal for a new car :)



there's an ACR app that will record the phone calls if you like i have it on my phone.. but i like to have them in writing email or text

this is a helpful formula that all car buyers should learn to get the best deal.. would you like to keep thousands $$ in your own pocket or giving them to the dealer as profits ?




Fair profit new car offer-- something i didn't know about until recently.


the Dealers can earn thousands in profits from people who don't do their research or have the dealers compete for the lowest price

i'm sure they will still make a profit from me- but the amount minimal compare to another customer

the next challenge for me is going through the finance department-- i heard this is where they made most of their profits-- but we will see--


Yes. This Mazda 3 will be my first New car. I've been driving the 20+ year old car since college. this is my first time buying a New car
89846 cr points
Send Message: Send PM GB Post
28 / M / Louisville, KY
Online
Posted 3/11/17

dulun18 wrote:


Khaltazar wrote:

Hopefully they didn't give you their selling price without tax, title, and documentation fee included. They did that for me when I asked for the OTD cost in person. They brought over a paper with prices and they pointed to the price of $18,725 as their OTD cost. I said, okay, I will do that price. Then the guy took it to the manager and came back and said "I forgot to tell you that this price is our sell price, but does not include tax, title, and documentation fee. You're actually looking at $21,500. I love my Mazda3, I paid mine off in 8 months. I did research on the car for months before I finally decided to buy it. Welcome pretty soon fellow Mazda3 owner. This is your first new car as well? I upgraded from a junky 1989 Lincoln Mark VII that stalled constantly while driving (when turning left or right or going over a hill) so I really enjoyed upgrading to a new car, it was a much welcome improvement. Let me know how it goes tomorrow. :)

Edit: I saw your edit and that is probably why I didn't get a price like yours, I went to a big dealership near where I work that sells every type of car they are like a mall for cars, Mazda lot, Toyota lot next door, Honda lot across from there, Hyundai lot, Ford lot, Scion lot, etc. I probably could have gotten a better price if I went to Lexington or Cincinnati (I got my car from Louisville, KY).


i think it's universal for most people that "out the door" = the price of the car + tax,license and fees-- it's the price you will pay in total to get out of the door with the car. (well since i'm financing i'll be paying a bit of interests on the amount..you will save even more if you can pay off in the car in cash (not possible for me atm) but it's still a pretty dang good deal for a new car :)



there's an ACR app that will record the phone calls if you like i have it on my phone.. but i like to have them in writing email or text

this is a helpful formula that all car buyers should learn to get the best deal.. would you like to keep thousands $$ in your own pocket or giving them to the dealer as profits ?




Fair profit new car offer-- something i didn't know about until recently.


the Dealers can earn thousands in profits from people who don't do their research or have the dealers compete for the lowest price

i'm sure they will still make a profit from me- but the amount minimal compare to another customer

the next challenge for me is going through the finance department-- i heard this is where they made most of their profits-- but we will see--


Yes. This Mazda 3 will be my first New car. I've been driving the 20+ year old car since college. this is my first time buying a New car


Congratulations, I know you will love it! As far as the Finance Office, they will definitely try to get you to spend more, but just decline everything, it is all a scam (you can get better deals elsewhere - as I'm sure you know from your research). Don't fall for their Gap Coverage (get that through your Auto Insurance company - unless you put a decent down-payment such as $4,000+). The dealership I dealt with tried to get me to get a $5,000 package and they said "this package will cover you COMPLETELY 100% on all repairs, oil changes, etc. that your warranty does not cover for 10 years." They make it sound really good, like "oh, if my transmission gives out and I need it fixed that is around $2,000+ so $5,000 for 10 years coverage sounds great!" But it is just something to increase their profits. The $5,000 you pay is really an insurance policy the dealership will take out on your car (but it might cost them $2,000 for that policy) and if you never use it, great for them, if you do use it, the dealership doesn't care because it's not their money they are spending to fix your car.

Just keep saying no to any additional package and you'll get out of there quickly. Don't even get the basic additional package that covers oil changes and tire alignments, etc. for 5 years because that costs more than you would actually spend in 5 years. The reason they offer those packages is because people eat them up all the time. "Oh, $5,000 more for 10 years of complete coverage?" and the finance officers smile at their large commission they are getting for that sale. Finance Officers can make much more commission than the actual sales associate does selling you the car. The sad thing is people keep falling for these packages because they say oh what is an extra $50 - $100 a month, that is nothing!

I'll take a picture of my car and share it either today or tomorrow. I also got a dash camera because I am paranoid that someone will try to back into me and claim I hit them or something.
First  Prev  1  2  3  4  5  6  7  Next  Last
You must be logged in to post.