I'm realizing I don't really know how to shop for a used car.
My process 9 years ago was to go to the first used car store I saw, get out, and see this beautiful grand am. I had a dream about it that night and went back to buy it the next day. I've been very happy with the car, but I got hosed on the interest rate and don't want that to happen again. I was 23 and fresh out of college and I won't let it happen again.
I could go back there (the guy sent my car a birthday card every year for the first five years or so), because it's really not their fault their financer gave me a bad rate. But, eh... seems I could do better. I'm fishing around for an hour or so a night on the internet, reading up on things, but still don't really know the best place to buy a car. Should I go to a dealer? Well, then it seems I would already have to know what kind of car I'm getting. But I don't know. I have it narrowed down, I think (CR-V, Rav4, Forester, Saturn Vue, Pontiac Aztek are some of my ideas), but part of me also is thinking about a hybrid, like a Ford Escape Hybrid or even a Prius, which I like. They're all just so expensive, though! Maybe I should just get a cheap 4-door car or a hatchback that will last me a few years until I really have some savings.
I want to buy by Christmas.
We'll see.
AL Notes: Yankees, A's, Royals, White Sox, Mariners
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4 comments:
The best thing I ever did when buying a car was going through my credit union's broker -- if yours has one, it's 100% worth looking into. I basically gave them a list of requirements, they gave me a list of cars that matched. That was it. No dealing, no haggling, no spending time on multiple car lots looking for something I wanted in my price range, and I paid far less than I would have buying on my own.
Seriously, best experience ever. I will never buy a car another way again.
I sold cars for a while, and learned a thing or two about the business along the way.
Research is your best friend, as is detachment. Know what you want going in, and do not fall in love with a car until after you buy it. As for the financing, try and get that lined up ahead of time and then shop the rate at the dealer... however, under no circumstances should you ever car shop by a monthly payment... that is asking for trouble.
A suggestion on the hybrids [especially the escape, but this works for others as well]: If you are buying it to save money, it will take you at least 8 to ten years to save money on them, repairs not included. If you are buying a hybrid because you want to save the planet, go for it, just realize that the cost of ownership is higher for the first 8 to ten years that you own the vehicle, unless the battery goes up outside of the warranty, then it is always higher.
I love talking to people about how to buy a car... it upsets the people I used to work with, but if you are interested in talking about it, let me know.
Get pre-approved for your loan through your credit union first. And then go buy the Forester or another Subaru. Of course, I'm bias and have driven them since I was 16 (almost 20 years!). I've bought them new and used. Mom, Sister, and I all currently drive Foresters. Husband drives a Legacy. Father has driven several wagons. Last time ('03), I did a ton of research and went into the dealer and gave them the price I was willing to pay. They beat it.
It really is a roll of the dice.
If I were going cheap, I'd stick to Craigslist or Citypaper.
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