Buying a Car

[AtlantiCat 0]

Although he'll not be here until next year, I'm thinking ahead for what my fiance is going to need when he gets here and high up on the list is going to be a car, particularly when he starts interviewing for a job. So I was wondering what other folk have done in this situation. He'll have some small amount of money saved up so it was my thought that he might just want to buy a cheap used car outright, preferably with some small warranty, from a reliable dealer. My own vehicle will be paid off in December, so my other thought was to offer to co-sign with him. I've also seen a number of places in my neighborhood that advertise "no credit, no problem," but those disturb me on several levels and I'd be afraid to walk into one.

So I'm curious to know what others have done, and any ideas, or what has/has not worked for you. Any information would be greatly appreciated.

[Jasman0717 9]

I found the car (truck) I wanted and then started negotiating the price with the salesman. Consumer Reports offers a pretty good deal if you know specifically what you want they will recommend what to offer for the vehicle.

Once we had reached an agreement on the price of the vehicle we started negotiating the price of my trade-in. Don't let them know you have a trade-in until you reach an agreement on the new vehicle.

After reviewing what the truck was selling for and what my Mustang trade-in was worth I think I really did a good job in getting the best deal. If they won't give you want you want then walk away. I most cases you won't get far, especially if they have spend a few hours in getting the pricing all worked out. The dealer didn't want to give me much for my Mustang, only $13,000 for a 2003 and that was a year and a half ago. I told them what I wanted, based on Consumer Reports, and they finally gave it to me otherwise I was ready to walk.

Remember, it’s your business they want, not you wanting their business so stand fast. If one place doesn't offer you what you want go somewhere else. Take your time, it can save you thousands.

Good luck

[Lansbury 19]

If he is in a position to either buy new outright or finance a new car he might like to try International Autosource. They are in New York based but have an office in the UK, Phone: (UK) + (44) 207 177 0018.

They were set up originally to sell vehicles to US service people returning from overseas but now sell to people moving over as well. The vehicle comers from the manufacturer and is delivered to a dealer local to you. I got a vehicle through them at 20% off the sticker price, which worked out at $4000 below the dealer invoice price.

[cshell 0]

I had a budget of less then $3,500. So we knew we were doing used! LOL. I suggested that we get a honda or toyota as they are known as reliable cars. We looked at 3 cars then we decide to only look at the Honda Accord, but not so old that it didn't have a driver's side air bag. The we went to craigslist.org. And I searched Honda Accord Max $4000. We also looked at autotraders.com and a local web site for the newspaper. Then we compared the prices people were asking and got a feel for price. We looked at a few. And because we were looking at a specific car we learned what was a good price. We looked for a dry engine, no oil and low milage. And over the summer we found a 94 with only 83K and we got it for $2100. It had no radio and the tires are shot, but even with purchasing a radio and the ties it came to $2,450 a great price. It took about 2 1/2 weeks for the whole process. We weren't in a rush so we were able to get a good deal. In the end we saw I think 8 cars and 6 were the accords.

[Nanusia & Lukaszek 0]

We searched around the internet, the paper, local used car lots and felt hopeless. We thought no matter where, there was probably something totally wrong with the car, otherwise the person wouldn't be selling it. BUT WE WERE WRONG! I put my pessimism aside and found a car for my husband on Craigslist.org. It was a 96 2 dr civic for $3000 (with sunroof, AC, all the bells & whistles, only 104K miles). It was in perfect condition. The guy just graduated with his masters and was moving to NY and said he didnt want to drag his car with him. He even gave us all the service records he had for the car (he was the first and only owner) and even gave us his dad's address & tel # locally to call with questions if anything ever came up.

And if you are searching on CL, dont get scared off by price. I was at first, cause Honda's & Toyota's retain value very well. Just put your negotiating skills to use. The guy wanted $4400 for this civic, we managed to get it down to $3000. Well within our budget.

Search around, and good luck.

Edited September 4, 2007 by Nanusia & Lukaszek

[Kathryn41 3,205]

When I arrived my husband and I looked at CarMax to get an idea of what was on the market. I had had a Hyundai in Canada (actually, several:-) ) and liked them so we went to the local Hyundai dealer to see what they had available used. We found an Elantra here that was a year old and had been used by their service manager. They offered us a great deal on it - the time of year was right for that - so my husband and I took out a joint car loan and bought it. One of the reasons we took out the loan in both of our names was to help me build up credit in the US since my Canadian credit didn't transfer to the US with me. That is something you may wish to keep in mind for your husband - taking out a co-loan on a vehicle will help him start to build a credit history here in the US.

[MargotDarko 0]

This is something I've been thinking about as well. We'll only have some money for a down payment. I left behind great credit in the US (and have maintained that while in the UK for the past two years), but isn't it true that get some type of car loan I'd have to show proof of income as well as good credit? We'll need a car pretty much right away, definitely before we've actually started jobs.

Does anyone know if we'll be just fine with my good credit and my dad (who has plenty of income) willing to co-sign a loan?

[Mags 112]

We bought our second car on eBay. Saved ourselves a good grand in price. Not quite the same as asking about getting credit for buying a car, but something you could bear in mind for saving some cash...

[elmcitymaven 9,712]

We have bought and sold cars in both the UK and the US on ebay and been pretty happy with the results. (UK forum members may remember my Morris Minor George -- bought and sold on ebay!) I think you need to ask yourself -- do I need a brand new car or am I happy with a used one? For us, it was a simple choice -- the hubby doesn't like modern cars much so it was used all the way. We also didn't want to be saddled with paying off a loan and interest just for credit purposes, and preferred to own the car outright and be able to use it as an asset. Me? I love Volvo 240s, and they don't make them any more so when we get car number 2 it will have to be used.

However, used cars will need time and money to maintain, and you can't just turn to your dealer if something goes wrong. My husband is a car nut, so maintenance can mostly be done at home on our 20-year old car, but this is not the option for everyone. And of course some people can't stand the idea of driving something "pre-loved", which is fair enough. Others will see this as a way to build credit, so perhaps a loan is a good idea for them.

Make a list of what means more to you to start you on your way.

[Mags 112]

We have bought and sold cars in both the UK and the US on ebay and been pretty happy with the results. (UK forum members may remember my Morris Minor George -- bought and sold on ebay!) I think you need to ask yourself -- do I need a brand new car or am I happy with a used one? For us, it was a simple choice -- the hubby doesn't like modern cars much so it was used all the way. We also didn't want to be saddled with paying off a loan and interest just for credit purposes, and preferred to own the car outright and be able to use it as an asset. Me? I love Volvo 240s, and they don't make them any more so when we get car number 2 it will have to be used.

However, used cars will need time and money to maintain, and you can't just turn to your dealer if something goes wrong. My husband is a car nut, so maintenance can mostly be done at home on our 20-year old car, but this is not the option for everyone. And of course some people can't stand the idea of driving something "pre-loved", which is fair enough. Others will see this as a way to build credit, so perhaps a loan is a good idea for them.

Make a list of what means more to you to start you on your way.

Hubby has a Volvo 240; it's currently not running (nor does it have current plates) but he swears he will get it running again. He's an ex car mechanic so maintenance and repairs aren't an issue for us either.

Beryl was purchased on eBay for me, for when I start to drive:

She is a lovely little motor (1999 Ford ZX2) and, as I mentioned before, we saved at least a grand on her price and this was despite her being purchased from a dealer (through eBay). She was a trade in and therefore would have been going to auction if not sold on eBay - we got her at the reserve price too.

Oh, and she corners like she is on rails (look at the low profile tyres!) and she has a rear spoiler, which is an obsession of Charles' here on VJ.

Edited September 5, 2007 by Mags

[mawilson 2,133]

Beryl's a cutie!

[Mags 112]

Beryl's a cutie!

She is. For a not so new car she sure is a purdy one!

[thesnowman 1]

When we first arrived we bought a Dodge Interpid for $3000, that car lasted around 3 months before the engine blew. After several months of getting the bus everywhere, I got a job and after my first pay check I went to a dealership and bought a brand new car (Chevy Equinox) with $1000 down. Since my wifes credit wasn't great they done it all on mine (I didnt have any credit history) and got me a good deal on some new buyers scheme. we had to pay slightly over what we wanted for monthly payments, but insurance is fairly cheap, decent interest rate and the car has a 5 year warranty.

We just phoned around the various dealerships and were completely honest with them and most went out of the way to find us credit.

Edited September 6, 2007 by thesnowman

[elmcitymaven 9,712]

Beryl's a cutie!

She is. For a not so new car she sure is a purdy one!

Beryl is adorable! Love the name. Now, you better lean on the PlatyPius to fix up that 240... they are sweet little things to drive, built like a tank and easy to control. I am in love with my dad's (it's black with all the goodies -- we call it the Stealth Volvo), but no matter how much I beg and plead he won't give it up, at any price. I've started socking some money away for my own -- one good enough to drive across America in when we finally move to California next year.

oops -- sorry for the hijack!

[Mags 112]

Beryl's a cutie!

She is. For a not so new car she sure is a purdy one!

Beryl is adorable! Love the name. Now, you better lean on the PlatyPius to fix up that 240... they are sweet little things to drive, built like a tank and easy to control. I am in love with my dad's (it's black with all the goodies -- we call it the Stealth Volvo), but no matter how much I beg and plead he won't give it up, at any price. I've started socking some money away for my own -- one good enough to drive across America in when we finally move to California next year.

oops -- sorry for the hijack!

I'll direct hubby to this thread...I'm sure he'll agree with you how wonderful the 240 is!

Edited September 6, 2007 by Mags