The Vehicle Purchasing Thread

Khane

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#1
Shopping around and buying a new/used vehicle, especially if you have a trade-in, can be a pain in the ass so I figured I'd create this thread where we can discuss monthly deals/financing and leasing options/whether or not that mailer you just got may be worthwhile.

Reason for this thread for me is I just got a mailer from a local Toyota dealer with what seems like a deal that may be too good to pass up. I am not the type of person who cares about having the latest and greatest in vehicles, I just want something that's comfortable to drive and dependable. I currently own a 2010 Camry XLE with every option except the nav system (V6, leather heated seats, premium sound, moonroof, etc). The car currently has 138k miles on it and has never given me a problem and still drives great. Current KBB trade-in value is $4,900.

The mailer I received gave me a trade in price for my 2010 Camry of $8,195 and a purchase price of a 2017 Camry XLE of $23k meaning the overall price I would pay would be $14,941. So the questions I am asking myself are:

1) How much life can I reasonably expect out of my 2010 Camry with 138k miles putting roughly 8-10k miles per year on it
2) What other manufacturers may have a comparable model at a similar or better deal currently? Though it's going to be hard to convince myself to switch away from a Toyota. This Camry has been the best vehicle I've ever owned by a long shot
3) Is the deal good enough that even though I may be losing a bit on it I'm getting a brand new vehicle and longer life expectancy out of it as a result?
4) Are the 2017 model year Camry's as reliable as my 2010? Has anything happened with the 2017 model year that may be cause for concern? According to Edmund's it's as reliable as all its predecessors but maybe someone here has had a different experience.

Even though interest rates are low I would still be purchasing the car outright with cash because I just don't feel like incurring another monthly payment. I hate debt, even cheap debt.

Thoughts?
 

Big_w_powah

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#2
1) Probably another 5-7 years, but you will have some large service jobs coming up probably.
2) Dunno about deals, but Honda/Chevy/Ford all have comparable models. I'm honestly sure most manufacturers do. But fuck Dodge/Chrysler/Fiat/CuntRAM, they can burn
3) If you want a new car, its a good deal. Review every number they give you if you go in, don't get fucked.
4) Toyota is as reliable as ever.
 

Cad

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If you are only concerned with reliability and cost effectiveness, keeping your 2010 is going to be cheaper in the long run, no-brainer. Unless you care about the latest electronics/phone interfaces/etc the new cars are better than a 2010 on fuel economy, crash protection, etc.

A 2010 is new enough that it shouldn't have any "major" problems as long as you do the regular maintenance, change the transmission fluid, the coolant, the oil every 5k (use synthetic and go 10-15k!), etc. Regular maintenance would include brake jobs, balljoints, etc.. nothing major. You can get toyota engines/transmissions if you did somehow blow a motor/transmission used cheap as shit. Unless you have a 1985 ferrari or something keeping the older car is ALWAYS cheaper. Cheaper does not mean better, but if you're asking cheaper...
 

joz123

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So I need to get rid of my P.O.S. 2000 Saturn thats worth 0. I can't spend more than like 11 grand and have been lookin around for a decent used car. I don't mind gettin a smaller car that is quick and reliable. Any recommendations? Been looking at a Ford Fiesta. Also do most dealerships give a warranty on used cars?
 
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Palum

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So I need to get rid of my P.O.S. 2000 Saturn thats worth 0. I can't spend more than like 11 grand and have been lookin around for a decent used car. I don't mind gettin a smaller car that is quick and reliable. Any recommendations? Been looking at a Ford Fiesta. Also do most dealerships give a warranty on used cars?
I know ford had issues with cvt in their small cars, not sure if fiesta was on the list and how recent it affected models but something to look into.

Honestly I'd try and find a grandmother who has 4700 miles on her 2013 Camry or something.

Some states have 60-120 day mandatory warranty period even on used cars, some used dealers have it built in to price, but overall no, don't expect anything at the level of new car. CPO cars are a bit different but you're not saving as much all I don't think you'd hit that magic number these days. Also private sale = no sales tax in some states if you can just pay cash rather than trying to finance though a dealer.
 
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Cad

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I know ford had issues with cvt in their small cars, not sure if fiesta was on the list and how recent it affected models but something to look into.

Honestly I'd try and find a grandmother who has 4700 miles on her 2013 Camry or something.

Some states have 60-120 day mandatory warranty period even on used cars, some used dealers have it built in to price, but overall no, don't expect anything at the level of new car. CPO cars are a bit different but you're not saving as much all I don't think you'd hit that magic number these days. Also private sale = no sales tax generally if you can just pay cash.
How do you get away with no tax on a private sale? Car still needs to be registered, and if you process the title transfer they will hit you with the taxes, they'll ask you for bill of sale/value etc. Sure you can lie and say $100 but it's a felony in Texas if they were to investigate.
 

Palum

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How do you get away with no tax on a private sale? Car still needs to be registered, and if you process the title transfer they will hit you with the taxes, they'll ask you for bill of sale/value etc. Sure you can lie and say $100 but it's a felony in Texas if they were to investigate.
Here they check if the tax was paid on the car itself. If it's deficient (you moved/bought from out of state) they do force you to pay the difference to register in use tax. Might be a quirk of how the law is written though. For instance we also get credit on sales tax paid in previous vehicle trade in value towards a new car as well so we only get the difference assessed.

I think technically all private sales are covered under our use tax so it's the purchasers responsibility but I don't know of anyone ever who has ever been audited (or how they would even do so) for it. Like if you move here you're supposed to declare the actual value of your chattel then demonstrate sales tax being paid from the state you purchased it or assess yourself a tax based on diminished value within a certain age range or something stupid. They force you to pay the use tax at the DMV in lieu of sales tax in the case there's no sales tax record on the VIN.

So in Texas every individual collects sales tax? That seems odd, usually there's like a registration or authority to collect for the state built into something, like a license you gave to acquire. I can't imagine that working out well for every Tom, Dick and Cleetus selling shit on Craigslist.
 

Noodleface

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#8
Wife originally wanted a CR-V and now she wants a pilot. She's expensive
 

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#9
How do you get away with no tax on a private sale? Car still needs to be registered, and if you process the title transfer they will hit you with the taxes, they'll ask you for bill of sale/value etc. Sure you can lie and say $100 but it's a felony in Texas if they were to investigate.
I googled it looks like Texas they assess sales tax as part of registering rather than having separate sales tax and vehicle registration tax?
 

Cad

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I googled it looks like Texas they assess sales tax as part of registering rather than having separate sales tax and vehicle registration tax?
You pay it when you transfer title
 

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joz123

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Decided not to go with a compact car, don't want to feel cramped in one since I am 6 feet. Might just spend a little more and get a Sonata or something similar.
 

joz123

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Ended up getting a 2015 Hyundai Sonata. Paying a bit more than what I wanted (290 a month for 6 years, almost 10% APR which sucks), does come with 10 year/100k mile warranty at least.
 

Palum

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Ended up getting a 2015 Hyundai Sonata. Paying a bit more than what I wanted (290 a month for 6 years, almost 10% APR which sucks), does come with 10 year/100k mile warranty at least.
Refi down the road?

God damn I'm punny
 

joz123

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Don't have a credit union to get a loan with so I did it through the dealership.
 

Palum

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Don't have a credit union to get a loan with so I did it through the dealership.
That doesn't make sense, most dealers have dozens of banks/CUs on tap for loans and they automatically make you a member in the case of CUs.

But you should be able to get membership at SOME decent CU down the road and refi if you pay it down a bit.
 

joz123

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Don't know if my credit was a huge factor but they said mine was 736 which isn't that high.
 

Palum

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Don't know if my credit was a huge factor but they said mine was 736 which isn't that high.
736 should be fine to get you a decent rate loan. I think most of the captive lenders (GMAC,etc.) are like 750+ is tier 1 lol much less a CU who wants actual business. I think they fucked you over for the kickbacks tbh.
 

Khane

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#19
Should always go to a dealership with loan and rate information ready.

The last vehicle I bought with financing (A Chevy Colorado) I had done all the rate research and was ready to refi the second I left the dealership. The dealer said the best rates available were 7%, I was able to get a loan from PenFed at 2.99% (this was back in 2007-08 or so). They also told me I couldn't get the deal they were giving me without taking their financing package. Fine. Who cares. I left with the truck and called PenFed and refinanced immediately. I had to pay a difference of like $75 in accrued interest by the time the paperwork went through (think it was done in 5 days or so).

Should be very easy for you to join any local, or even some Federal/Specialty CUs over the phone. When I joined PenFed you had to either be a veteran, work for a government agency, or make a small $25 (I think it was $25, it may have only been $5) donation to a veteran's charity. I wasn't a vet and wasn't working for the government so I just made the donation and saved myself thousands of dollars in interest. You should try doing the same, it's a very simple process. Rates at PenFed are way lower than 10%. 10% is a joke in today's market:

Auto Loans from PenFed - Find, Compare, and Apply Today

You may not get the advertised rates on the site but you sure as shit aren't going to be paying 10%
 

Noodleface

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#20
My local CU I'm in you don't even need to do anything to join.