Would you buy a new car on a 60 month loan?

by Elsewhere 134 Replies latest jw friends

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  gringojj

  Elsewhere,

  You traded you car in(sold it to the dealer) and a week later it burned to a cinder. Isnt that great to know you dont have to worry about that kind of stuff when you trade it in? Now, what would you do if you bought a car from a dealer and it started smoking? You would flip out and say the dealer was a scumbag.

  Isnt it nice to know you can sell your car to the dealer and not be called a scumbag if it burns up a week later, but if a dealer sells a car and it burns a week later he is a scumbag. Great to have that type of immunity?

  Have you ever lied to a car salesman?
• 

  gringojj
• 

  gringojj

  I got lucky with that one!

  Elsewhere,

  You got lucky yes, but at the expense of the car dealership. Did you ever stop to think that the dealer probably lost thousands of dollars on your car? Now I am not saying you should go and pay them back, thats not how it works. But its a calculated risk when we trade in a car. Some you make some money, and some you lose. But there have to be some winners in order for us to stay in business. Everyone wants to rape the car dealer, but do they realize the big picture? If we lost money on every deal, we would go out of business. Then you would have to drive that much farther next time you want to rape the dealer, so will everyone else, soon he will go out. Then where do you get you service done? If people effectively cut out al the dealers there will be no place to buy cars and service them. What does that accomplish?
• 

  eyegirl

  it's all about priorities i guess. my brother will only pay cash for a car that he drives (his wife is another story), but then he doesn't have to feel guilty for dropping a crapload for a new harley. he just got that about a month ago. i'm not really sold on the new car idea, unless you've really got the money and/or don't have a good mechanic that you trust to do repairs. i lucked out--my parents just bought a new Ford 500. they love it and it's super nice--great gas mileage too for a fairly big car. they sold me their old sable--it gets around 27 mpg in town--not too shabby for a V6 with 135K miles on it. my dad runs amzoil in it and swears by the stuff. it would be tough to get used to the idea of making a car payment again............and for 5 years on top of it--ICK!
• 

  Elsewhere

  I'm not pointing fingers at you specifically, but I have never met a person who did not have a car dealer at least *try* to screw them over. I have no problem with a reasonable transaction that benefits both buyer and seller... it is when the car dealer intentionally tries to ass rape the customer that pisses me off.

  When I was younger my cousin came to me very excited to tell me about his very first car that he had just bought. He then asked me how much I was paying in interest on my first car loan, when I told him I was at 3.75% he turned white as a sheet... his car dealer charged him 29%. (no not 2.9%... twenty nine percent)

  That is a crime called usury. As a young first-time car buyer with little or no credit, he was legally entitled to a much lower rate.

  The bottom line is this: Car dealers have created a culture of distrust between them and the buyers because of their history. They have only themselves and their predecessors to blame.
  
  As the saying goes... "you made your bed, now sleep in it."
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  gringojj

  Elsewhere you are so right, it is a problem the car dealers, but more the manufacturers(which nobody blames) have created. When you have 3 Toyota dealerhsips within 25 miles, thats where the problem starts. Just to let you know here in Mass there are laws against raping people on interest rates. We can only make 2 points on a loan i think, could be wrong. That doesnt mean some people dont get high rates, because if they have bad credit they do. The point is that with the internet now, you can figure out what is a fair price, go to your local dealer, and try and get it. But-If they cant give you the deal you want, ask them why dont just storm out. Alot of times the internet will give you options and pricing that may not be totally correct. So see if the saleperson can explain things to you, thats what they are there for.
• 

  willyloman

  The fact that someone will come in to see me and get all the info they want and then take my info down the street to the next dealer and buy there for 100 bucks less makes me sick.

  If that were the case, I'd be sick, too. But how about $4,800? That's how much I saved by shopping hard. I respect your position, but money doesn't grow on trees. I'd probably buy a car from you... because somehow I don't think you'd have the nerve to sell me a car for $4,800 more than another dealer would.
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  free2beme

  Unless you have a lot of money to put down, and you really want that car, you have very little choice. However, never buy a car as an investment, as it will never be worth more then you paid or even as much as you paid. Get one with good gas mileage though, or you wont be happy with the payment.
• 

  Eyebrow2

  I had a Ford Tempo once too. Else...WORST CAR EVER!! I have known anyone that has owned one that did have issues with it.

  my first car was a 75 charger...which met untimely death a few weeks after I bought it for $300..it had a leaky gas tank, and I was at a university library, and someonce called the fire department, and they filled my tank with water...argh...my dad sold it to someone for $100..I was ripped...but hey...it had carb issues i couldn't afford to fix anyway

  I had a 84 Nisaan Sentra...it had about 140K miles one it when I bought it for 800. I drove that thing into the ground...got it to just about 200k miles in the year and one half I had it.

  I then had a 78..damn what was that car...it was a ford or dodge something...I bought it for 200 bucks....the brakes went out a few weeks after I had it and I bounced of the side of a bank...thank god for snowbanks and brick....

  Had a 85 little red honda civic..that was the bomb...I was stupid and got rid of it after the starter went...I loved that car, it looked like a penny card

  had a 85 caravalle...I think that was a dodge or plymouth....the engine got a crack in it. It met its death down in MA when I was waiting to pick my bros up from a Pats football game...not a fun night.

  hmmmm had a nice mazada88 or 87 323...sold it to my niece really cheap when the alternator went...then I got a cool 89 Nisaan Maxima...god I loved that car...the started went, then it got repo'd (not a good month hahah)

  have had a few other cars...never brand new...since then we have had a beat up 85 ford mercury, 85 checy beretta, a 78 Jeep cherokee, 84 Jeep Wagnoneer and now a 95 grand pri and 95 dodge 1500 Ram van.....I don't see where any car domestic or foreign was better than the others.....

  Our Ram van hit 200K as we drove from TX to NH, I think it was in PA. and our grandpri is at about 160K or so.

  I think if you can work on your car, it doesn't really matter too much if it is foreign or domestic. That's just been my experience....
• 

  eyegirl

  i think it's always a good idea to check around--check consumer reports, talk to people, etc. my brother is/was a mechanic and i always ask his opinion before i buy anything. his main advice is never buy the first model year of a new vehicle or body style. there tend to be alot of problems and that's when they work the bugs out. also, some companies are better about doing recalls, etc. he did say that jeep was the worst when it came to that--most companies would recall vehicles if there tended to be alot of a certain type of malfunction. jeep wouldn't. they'll send out service bulletins to the shop, but won't ever do a recall--less money out of their pocket.