The Prefect family is looking to buy a new vehicle in the next month or so.
These are the requirements:
Roomier rear seat than our current 2000 Chevy Malibu.
Towing capacity of at least 2,500 pounds.
Highway fuel economy greater than 32 miles per gallon (CDN gallon - 4.55 liters)
Not kill us financially.
The search has led us to a few contenders; the Chevy Equinox (or Saturn Vue, Pontiac Torrent) and the Mazda Tribute .
We can equip these moderately for under $35,000 CDN including taxes. Which works out to about $500 per month for the next 6 years with the current interest rate offers. That is also about as much as we can afford right now, and if we could afford more, I still wouldn’t spend it. Instead I would buy a beater truck to use for the few times we need the trailer.
I know, I do go on and on… My desire for Dopers to weigh in on their personal impressions on the Equinox/Vue/Torrent and the Tribute. Yay or Nay, short comings and positive experiences.
I would also like to know if I have missed a car somewhere that can do the same things. I am not set on an SUV, these get pretty decent mileage, but not exceptional. I want to be as green as I can afford to be.
I think that financing a car for six years is financial insanity. In addition to the interest you’re adding to your purchase, you’re going to be upside down on the loan for much of the payoff period. If the car is totaled, or stolen and not recovered, you will be left w/ no car and you will have to pay the lender the difference between the cars value (at the time of loss) and the loan balance. If you can’t put enough down payment to get a three year, or lesser, loan, then you really can’t afford the car.
Check the Carfax history on the cars VIN, even on a new car purchase. There are scams w/ new cars too.
You are likely correct, that 6 year “deal” was at Mazda at 1.9% with the taxes included on the financing. The 5 year term would be $563 per month.
GM has a 5 year 0% on the Equinox, so the added interest doesn’t worry me, but the depreciation vs. write off does concern me, I’ll have to look into that. My local insurer has a 2 year Replace with New rider for new vehicles. If I am paying $600 per month for a 5 year term, I break even with depreciation as that rider expires.
I will check out Carfax.
I will likely go used, $33,000 (with taxes) is still a hell of a lot of money.
Nice! I didn’t catch that…
The Ford Escapes are nice looking, but I fear my Dad would write me out of his will should I go that route… He is a GM fan to the core.
I have been thinking about it, and let’s forget financing, money, my future in debtor’s prison, etc. Let’s just stick to the vehicles and their benefits.
You included it in the OP and you implied that you’re stretching to buy at 35K, so I don’t see any hijack here. I was simple offering my opinion on an issue related to your intended purchase. But you’re right, it’s your life and your money to do w/ as you please.
There are, however, many people reading these posts and my point might help one of them to avoid a bad financial decision.
That is appreciated. Really it is, I didn’t intend to call you on a hijack. I should not have included that info in the OP, it’s really nobody’s business but mine. Maybe it was a subconscious reveal of my own concerns, whatever. The decision will be between me, my wife and the bank. I am sure we will find an affordable solution.
I was hoping to get some response as to people’s opinions on these vehicles, since that is not happening, I think this thread is going to sink into oblivion. Perhaps to be resurrected as a zombie in 4 years…
According to the websites, both the Equinox and Tributes (with the V6 motors) can two 3500 and will get 34 mpg. That may remain to be seen though, but based on the specs both those vehicles meet my requirements.
You crazy Americans and your baby gallons.
The Canadian website for the Equinox has this for mileage:
Mi. / imp.gal. (city / hwy / combined):
City: 23 Hwy 34
And the CDN version for the Tribute has:
City: 24 Highway 34.5
