Comments on: How to Save Money Buying a Car

By: Marissa

Marissa — Mon, 21 Nov 2011 01:08:28 +0000

I am a fan of slightly used cars, meaning I buy cars that are 1 year or two older. Most of these have the warranties still on them and since they are normally import the resale value is still quite high.

By: Paul

Paul — Sun, 08 Aug 2010 23:08:07 +0000

Hello sympathetic people. I urgently need financial assistance to carry out a complex operation to my sister ($ 8000) Please help with any amount. My moneybookers account is pashtet1978@hotmail.com Thanks, Paul

By: David A

David A — Thu, 07 Jan 2010 20:41:06 +0000

Ah, Squawkfox. You are repeating something Mom and Dad have been telling you since you were a kit. Call it “conventional thinking.” The truth is, your depreciation depends on which car you buy and its projected resale value.

You want a Ford? Yes, expect to lose over $4,000 if you keep it a year or less.

An Accord, BMW, or Scion? Figure on a resale price of about $1,200 less after a year. Now, $100 a month is pretty cheap for driving a brand-new car under full warranty.

Financing is another issue, but a smart girl like you will be driving a used car until she can afford cash for a new model—right?

By: Gerad

Gerad — Tue, 05 Jan 2010 20:10:07 +0000

This is something I’ve been looking into since I have a 10 year old car. I am determined to get the best deal. If I wait until toward the end of this year I could probably get a ’10 model with zero percent financing (like they are offering this year)
I think that would be a better deal than buying one used and 1. not being completely sure it hasn’t been ragged out; and 2. actually having to pay a financing rate.
I don’t see the major depreciation that I read about when I look at used models, at least not what I’m looking at (Infinity G37), they are selling ’08 with 10-20k miles for basically MSRP
Any thoughts??

By: KateMTP

KateMTP — Mon, 04 Jan 2010 19:23:22 +0000

Just be careful if you buy a used car and make sure to get an extended warranty. I bought a used car that I love, but it has been nothing but trouble. I took all the precautions, took it to my mechanic, etc. The car was in great shape and my mechanic said he had never seen an engine so clean. Then I started having some issues – googled the problem online and it seems to be a theme with my make, model and year. Make sure to research before you buy.

By: Cd Phi

Cd Phi — Mon, 04 Jan 2010 17:46:58 +0000

I totally agree with Squawkfox. There is nothing wrong with a used car and I’ve had pretty good luck with them so far. The art of buying a car is all about researching and then negotiating. Great tips here.

By: Squawkfox

Squawkfox — Mon, 04 Jan 2010 03:59:58 +0000

I’m a huge fan of buying used. Who wants to pay thousands in depreciation just by driving off the lot? Not I.

By: TheMoneyMan-Leo

TheMoneyMan-Leo — Sun, 03 Jan 2010 03:55:49 +0000

Yes, good advice. And something to keep in mind as they are trying to get you to buy the extras…”if you can buy it off the dealers lot, you can buy it cheaper somewhere else.”

Those items include rustproofing, undercoating, wheel striping, car stereos, car mats etc.

I showed up the last time I bought a car with a CD of driving tunes…only to find out there was no CD player….in a 2002 car…this was 2005. $600 from the dealer? Uh…no thanks.

By: John DeFlumeri Jr

John DeFlumeri Jr — Sun, 03 Jan 2010 02:00:19 +0000

That is good advice, and I know, having just retired from 25 years in automobile sales and management.

John DeFlumeri Jr

By: MoneyNing

MoneyNing — Sat, 02 Jan 2010 19:39:28 +0000

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