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Can you afford a new car?

by Willy / April 10, 2013 12:33 AM PDT

You probably already know that new car prices are just a bit too much. Maybe out of reach or even too costly, one way or another w/o a loan. Like most of us, you get a car loan and pay some monthly payment from one month to the next. Well, that time has been increased, even further, are you ready for this....


These aren't the top of line or rather more expensive car line but typical or at least what can be called, the family car. Maybe, some chrome or doodads, but overall can be considered the basic car.

As for myself, a new car were thoughts of my youthful days. I'll be happy with a decent running one. -----Willy Happy

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when you find it, one of the best buys is program cars
by Roger NC / April 10, 2013 12:51 AM PDT

ones that were leased for a year or two to a business, or even the dealer loaner car.

Sometimes you can get one with less than 10K miles on it and a large difference than a new one. The warrenty will still be for another year or two and many now have to 100K or 3 years, even if you're not the orginal owner.

But 0% loan programs are tempting when you hear the ads aren't they. Sometimes though the math will say you're better with a 4% loan from your bank and take the cash back, if you're only going a couple of years on the loan.

I'm thinking of watching for a used truck, 5 years old or less, but not many around here sell that new. The drawback is trucks gas milage, although some aren't so bad now. I have two cars right now, but one is getting quite old and worn. It still does pretty good, but it burns a couple of quarts of oil a year now while getting 28-29 gas mileage, it use to do 30-31.

I probably wouldn't have two cars except of course we had two before my wife died and I kept both since they were paid off. It's nice to know you're not stuck if you have to put one in the garage for a week though, other than getting home when you drop it off of course.

I could get a truck and drive the remaining car except when I actually needed the truck, but I don't want to drive my "good one" to work". Paper mills have cleaned up a lot, but when processes are upset, there is still deposits out of the stacks sometimes into the parking lots, depending on wind direction. And the lot I park in is rock and sand, and the sand really piles up in the car.

The good thing is it's only 20 miles round trip to work and back, but I've gotten use to the 30 mpg range, and you're not going to do that in a truck. I'd be happy with 20 for a truck, even with reduced load capabilities, I'm not hauling horses or a huge boat.

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that's what I do
by James Denison / April 10, 2013 1:19 AM PDT

always buy off lease vehicles. Great bargains.

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(NT) limited selection though, esp outside of metro areas
by Roger NC / April 10, 2013 1:21 AM PDT
In reply to: that's what I do
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by James Denison / April 10, 2013 2:06 AM PDT

Look around at the rental places replacing their fleet and sometimes and get a bargain.






sell theirs through Thrifty

If they don't have a sales lot but do have a rental lot in your area, you can stop by and see if they have similar vehicles as those being sold at their sales lots and maybe get them to contact headquarters and sell you one there right off the lot if it's got 25K or more miles on it.

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Forget the low payment lure
by Steven Haninger / April 10, 2013 2:42 AM PDT

You want to know the total price you'll pay. Most of these deals are based on the sticker price of the car so you're already paying more than you need to. As others have said, a low mileage used or such as an early trade or demo can be had at a much more reasonable cost. Also, stay away from those "certified" use car deals. You'll pay for some kind of inspection and a service agreement that usually adds $1000 to $1500 to the sticker and dealers will tell you there's no removing that additional cost. We purchased low mileage used cars from trusted auto dealers rather than from places named such as "Bob's reliable wholesale"...these small lots with balloons, banners, and inflatable waving creatures by the streetside. You've no idea where those came from or how they lived before winding up here. But stay away from long payment terms. Bite the bullet and keep making payments to yourself once the coupon book is empty. Live on beans and buy your next car with cash. Happy

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good advice in terms of finance, but it's a fact
by Roger NC / April 10, 2013 3:06 AM PDT

that most buy on credit, and when figuring a budget, they have to give the monthly payment as much or more weight than the total. Thats if they are firguring a monthly budget of course.

About the only decision to be made based on total close is whether or not to buy at all, and that has to be interpreted in terms of cost of maintaining what you have.

Paying cash for everything is a good policy, but it's not always realistic. Living for 30 years paying rent while you try to save to pay even 50% on a house isn't necessarily the right move.

My rule of thumb for car repair and maintenance is about $1000 a year.

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I agree on the rent versus buying
by Steven Haninger / April 10, 2013 3:30 AM PDT

Unless you live in a small dump for 30 years, you're better off buying. But you should not buy to impress and still be willing to eat beans and pay a bit more each month on your mortgage. Of course the unforeseen is always a threat but living like there's no tomorrow is the best way to help fulfill that prophesy.

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Gosh darn...
by Willy / April 10, 2013 10:20 AM PDT

Well, my last few cars have all been used. I shopped until I dropped and figured what I was buying was worth it. However, even used cars have gone-up in pricing to almost within 2yr. models to equal some lower end models. My last car was brought from Goodwill auction locally here and overall it was a good car. Sure, it needed a tune-up, but it wasn't a lemon but a well used but to me seemed liked a cared for car. I immediately saved on gas compared to the old p/u and I do need two vehicles in case one breaks as i live too rural and just need wheels. I spend my $1 at least 5x before I let one go, I've become too budgeted in remaining yrs. Come on a decent car now costs at least $30k or so if so want anything remotely nice. AND NO, I won't buy a Kia. haha ----Willy Happy

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