Buying a New Car - Financing and Such

[Scout101]

Did Punta Cana, Dominican Republic in December, and had a blast. If you book by June or July (for a winter trip), you get pretty big discounts. I stayed in one of the higher-end resorts, and it cost me $2200 for me and the wife, with airfare. Booze, food, etc all included. Only cost dollar bills for tips, and we went on a scuba diving excursion that wasn't included. One of the cheaper vacations I've been on, and had a blast.

 

[Gryffindorian]

So, now you want to buy a new car and go on a vacation? OK, I'm just going to bite my tongue.

Mr Awe

Of course, but not before I withdraw my entire life savings.

 

[Gryffindorian]

Just an update: About two weeks ago, I did end up getting a 2012 Volkswagen Jetta SE 2.5. It's got five cylinders and six-speed automatic transmission. OTD price was about $20,000 plus my negative trade-in value of $3,600, which I can easily recoup in about 10 months. Not bad, considering the average value on Edmunds.com is something like $19,450.

Although it's not the best car I've ever driven, so far I do like its performance in terms of rapid acceleration. Braking speed could be better, and the features are rather limited. For instance, I miss the USB jack that came standard with my 2011 Corolla, so right now I can't play my digital music on a USB flash drive. The Jetta SE also doesn't come with Bluetooth, which I don't mind not having, since I hate talking on the phone while driving. Overall, I give it a satisfaction rating of B+.

 

[Robert Maxwell]

So you came here for advice, got plenty of it (the vast majority of which was against buying a new car at this time, with quite solid reasoning), and then turned right around and ignored it?

I hope everybody remembers this the next time you come soliciting TBBS for purchasing/financial advice.

 

[Mr Awe]

So, now you want to buy a new car and go on a vacation? OK, I'm just going to bite my tongue.

Mr Awe

Of course, but not before I withdraw my entire life savings.

Whew! I thought you were going to take out a HELOC for it!

Mr Awe

 

[Gryffindorian]

So you came here for advice, got plenty of it (the vast majority of which was against buying a new car at this time, with quite solid reasoning), and then turned right around and ignored it?

I hope everybody remembers this the next time you come soliciting TBBS for purchasing/financial advice.

Then you misunderstood me. Before I even started this thread, I was already determined to replace my old vehicle. Let me refer you to my original post.

Now I'm looking into upgrading to a bigger (and perhaps somewhat faster vehicle), so I'm thinking about getting a mid-size sedan, at least a six-speed automatic and not necessarily a V6 engine. I've been looking at the 2012 Toyota Camry, Chevy Malibu, or Honda Accord, but my biggest challenge is financing.

I never once said I needed people's advice on whether or not to make a purchase; I think I could pretty much figure that out myself, thank you. Yes, I did lament the fact that it was hard to get affordable financing, but at this point, it's a done deal.

Furthermore, is there a forum rule somewhere that states I have to take people's advice instead of making a decision for myself? Lest we forget, I've always said, "Take the stuff you read [on this board or elsewhere] with a grain of salt."

So, now you want to buy a new car and go on a vacation? OK, I'm just going to bite my tongue.

Mr Awe

Of course, but not before I withdraw my entire life savings.

Whew! I thought you were going to take out a HELOC for it!

Mr Awe

Welp, my next step would be to plan an all-inclusive trip to Cancun, so I'm getting ready to take out another 401K loan.

 

[Robert Maxwell]

So you came here for advice, got plenty of it (the vast majority of which was against buying a new car at this time, with quite solid reasoning), and then turned right around and ignored it?

I hope everybody remembers this the next time you come soliciting TBBS for purchasing/financial advice.

Then you misunderstood me. Before I even started this thread, I was already determined to replace my old vehicle. Let me refer you to my original post.

Now I'm looking into upgrading to a bigger (and perhaps somewhat faster vehicle), so I'm thinking about getting a mid-size sedan, at least a six-speed automatic and not necessarily a V6 engine. I've been looking at the 2012 Toyota Camry, Chevy Malibu, or Honda Accord, but my biggest challenge is financing.

I never once said I needed people's advice on whether or not to make a purchase; I think I could pretty much figure that out myself, thank you. Yes, I did lament the fact that it was hard to get affordable financing, but at this point, it's a done deal.

Furthermore, is there a forum rule somewhere that states I have to take people's advice instead of making a decision for myself? Lest we forget, I've always said, "Take the stuff you read [on this board or elsewhere] with a grain of salt."

You're not obligated to take the advice given here, but it seems you completely ignored everything that was said--in which case, what was the point of this thread?

There were plenty of practical suggestions for replacing your existing car, many of which didn't involve tying yourself down to yet another new car financing arrangement. You've already said you aren't totally happy with this new vehicle, too! What are you going to do, look to replace it again in a year?

I just don't understand your actions here at all, or what this thread was meant to accomplish.

 

[Gryffindorian]

If people were misled into thinking that I needed their financial expertise, then my apologies. If anything, I was venting, or maybe wanted people's opinions, not their advice. There's a difference. I come from a culture where giving unsolicited advice was considered presumptuous, so I would never tell people I hardly know what to do with their money, sex life, etc. And I expect the same.

EDIT:

RM, just so we understand each other, I'm not unhappy with my new purchase. Yes, this car doesn't have all the amenities I want, but I'm very pleased with its performance, and I like it light-years more than my old Corolla.

 

[Robert Maxwell]

If people were misled into thinking that I needed their financial expertise, then my apologies. If anything, I was venting, or maybe wanted people's opinions, not their advice. There's a difference. I come from a culture where giving unsolicited advice was considered presumptuous, so I would never tell people I hardly know what to do with their money, sex life, etc. And I expect the same.

Oh. Well, you asked some specific questions in your original post, so perhaps that's why people got the mistaken impression you wanted advice:

Why do I have to come up with a down payment?

The answer being that it is less of a credit risk to the lender if you have a built-in stake in the vehicle (that is, you own a substantial part of it at the time you take possession.)

Why are they only giving me so much trade-in value for my current vehicle, which is new?

Answer: a new car depreciates significantly the moment you drive it off the lot.

What say you? Is this a good time to shop for a new car?

Most people in the thread said that, in your specific situation, the answer is "no." It was not a good time to shop for a new car. Alternatives were proposed.

What's your experience like shopping for a vehicle?

Several people shared their experiences on this note, too.

I'm not going to go back through the thread and see if you asked any other questions, but your original post did give the impression you were looking for advice for your situation, regarding replacing your then-current car.

Next time, you may want to put a disclaimer in your opening post so people know you are using the proverbial lampposts of TrekBBS for support rather than illumination.

 

[Mr Awe]

Furthermore, is there a forum rule somewhere that states I have to take people's advice instead of making a decision for myself?

Technically, the rule is that you have to take my advice, not the board's advice. You can ignore everyone else, unless they agree with me.

Mr Awe

 

[Gryffindorian]

If people were misled into thinking that I needed their financial expertise, then my apologies. If anything, I was venting, or maybe wanted people's opinions, not their advice. There's a difference. I come from a culture where giving unsolicited advice was considered presumptuous, so I would never tell people I hardly know what to do with their money, sex life, etc. And I expect the same.

Oh. Well, you asked some specific questions in your original post, so perhaps that's why people got the mistaken impression you wanted advice:

Why do I have to come up with a down payment?

The answer being that it is less of a credit risk to the lender if you have a built-in stake in the vehicle (that is, you own a substantial part of it at the time you take possession.)



Answer: a new car depreciates significantly the moment you drive it off the lot.

What say you? Is this a good time to shop for a new car?

Most people in the thread said that, in your specific situation, the answer is "no." It was not a good time to shop for a new car. Alternatives were proposed.

What's your experience like shopping for a vehicle?

Several people shared their experiences on this note, too.

I'm not going to go back through the thread and see if you asked any other questions, but your original post did give the impression you were looking for advice for your situation, regarding replacing your then-current car.

Well, if you really want to get technical, those are hardly questions for advice. Again, I would like to emphasize there's a difference between seeking advice and soliciting opinion or mere input.

Question: "Why do I have to come up with a down payment?"

That was more of a rhetorical question on my part. I was asking for advice, I would've said, "Geez, there's this car I really, really like. Can someone tell me how can I come up with a down payment?"

Question: "What say you? Is this a good time to shop for a new car?"

Again, that's a matter of opinion. A "good time to buy a new car" for one person may be the opposite to another. It all boils down to perspectives.

Question: "What's your experience like shopping for a vehicle?"

Hardly a call for some advice. It's like asking someone, "How was your vacation in Mexico?" or "Did your trip to Italy go well?"

Next time, you may want to put a disclaimer in your opening post so people know you are using the proverbial lampposts of TrekBBS for support rather than illumination.

I'll try my best to be more clear and forthright next time.

 

[tighr]

Well, if you want to get technical, from your OP you state:

What say you? Is this a good time to shop for a new car? What's your experience like shopping for a vehicle?

Given the facts that we now know about you and your situation, I would have to say now was a terrible time for YOU to buy a new car.

I'm not sure if I mentioned this in my previous posts here or not, but I spent 4 months looking for my last car. I knew exactly what I wanted, and didn't let the dealer put me a car that wasn't 100% what I wanted. So I'm extremely disappointed to hear that you are not 100% happy with your new purchase, because there is no excuse not to be.

 

[Gryffindorian]

^ Yes, there are a couple of features missing from this new car that were included in my last vehicle. As I've already stated, the lack of Bluetooth feature doesn't bother me. As for the lack of a USB jack, I've decided I want to have a different stereo with USB capability installed separately. However, when I went to Best Buy (and even the dealership), the tech said to me that they didn't have the necessary parts in stock yet because this was a new model of VW. Right now I'm just waiting until the parts come out (maybe in a few months) so that I can purchase the stereo equipment and have it installed. Problem solved.

 

[TrickyDickie]

More room and more power?

Here ya go....

http://cgi.ebay.com/ebaymotors/COBR...7989429?pt=US_Cars_Trucks&hash=item3cc67b07b5

 

[iguana_tonante]

I never once said I needed people's advice on whether or not to make a purchase; I think I could pretty much figure that out myself, thank you.

Apparently, not.

If people were misled into thinking that I needed their financial expertise, then my apologies.

You very much needed it. You just didn't want it.

 

[Gryffindorian]

Damn right.

Quickly, can anyone spell ”presumptuous”?

 

[tighr]

I'm sorry, what was the point of this thread then? I'm confused now.

 

[Gryffindorian]

The point was that I was.in the process of buying a new vehicle and wanted people's opinions, perspectives, and experiences in how they went about making their own purchases. But apparently some got the impression that I needed to be lectured on how to do certain things. Funny how that works.

Since I've said all I wanted to say and got the feedback I needed, I don't see any reason for the discussion to continue. Mods, feel free to close this thread at your convenience. Gracias.

 

[Locutus of Bored]

Closed at OPs request.