Another car buying thread (in spite of the others)

In the unlikely event you do need a new engine, used replacement engines are readily available. For some reason, in Japan they replace engines with about 70,000 miles on them. They ship the old ones here and you've got an engine that'll easily last another 150,000 miles.

 

i guess if you're responsible enough with your credit, you can get a killer deal right now.

 

Prius sucks, and is to be replaced by a new version this fall; also, the stealership will throw a huge markup on it because it's a Prius and is allegedly "cool." In the long term, considering total cost of ownership, you'd be better off with the 2009 VW Jetta TDI. Honda Fit is very interesting; local stealership can't keep them in stock. Current Civic is fugly. Also consider the Scion xB (it's at your Toyota dealer; the second generation car is far cooler and more useful than the first generation) and the Toyota Matrix (Corolla chassis, sportwagon body) ... and the Corolla should be on your list, as well.

Leasing is BS. Just buy the damn car.

 

Also, used Toyotas come with the 7-year/100k mile warranty on them.

 

Bump on this ...

My boss suggested to me today to check out a local Carmax dealership. Anyone ever deal with people there?

I'm also looking into gauging auto loans from Bank of America and a local credit union which I may open a savings account to be able to go back to them about a loan later on. Not really privy to auto loans via banks aside from what I've read on their pages.

 

Credit unions are good things. Especially closed-charter ones, if you qualify for membership.

2muchcoffeeman mentioned the Toyota Matrix. If that's something you like, check out the Pontiac Vibe. Almost identical vehicle, and cheaper because it's a Pontiac instead of a Toyota.

Take a look at Mazdas, too. Mazda builds some great cars -- especially the Mazda 3. The reliability isn't quite as good as that of Toyotas and Hondas, but it's damned good. Plus, the 3 is great fun to drive. A used Mazda 6 is also a great deal on a great car.

 

Unless you just have to replace your car every 3-4 years, leasing is not a good option. I leased an Accord for a while, and it was the biggest car-buying mistake I've made. The mileage limit sucks, and like TBF said earlier, if you plan to buy it, you're going to pay a lot more on the back end. It's not worth it.
Having said that, I loved the Accord and ended up in another Honda, but not without paying for my leasing mistake. I wouldn't do it again. But it was during the boom times, man!

 

Carmax is a no-haggle dealership. They won't sell you the car for anything less than what's on the window. So take that for what it's worth.

Credit Unions can definitely be a good thing, but it also depends on the credit union. Some won't finance a used car for more than four years and some won't finance a car for more than 90-95% of the sticker price, depending on whether it's new or used. That's usually tough for people who are trading in a car that's not paid for and will be upside down a little bit. But you can usually get better rates at a credit union. When I financed my car at my credit union, I got 5.25% APR on 60 months, every time.

 

Just checked my credit union's rates. They'll finance 100 percent (including tax and license) plus up to $1,000 extra for up to 72 months at 4.99 percent. That's for new or used cars.

 

Just gonna bump this up.

Top 10 Selling Entry Level Cars in Canada:

http://auto.theglobeandmail.com/servlet/story/RTGAM.20090226.whEntry0226/GAStory/specialGlobeAuto/home/?pageRequested=3
#1 Civic, #2 Corolla, #3 Mazda 3

Interesting article. Entry level autos (sub compact or compact) now account for over 50% of new car sales up here compared to 32% in the US.

http://auto.theglobeandmail.com/servlet/story/RTGAM.20090226.whEntry0226/GAStory/specialGlobeAuto/home

 

I'll believe that. I can't remember where I caught it, but there was something on Yahoo or CNN or whatever about how Americans are just starting to look into smaller cars that make more sense instead of hulking SUVs. I don't need or want anything bigger than an Accord/Camry. The Lady Friend's mother drives a Mazda 3 which I've never been behind the wheel of, but I always hear how they're fun to drive but not as solid as a Honda/Toyota.

Anyone out there with some Mazda input?

 

That's a credit union worth sticking with.