Well, car engine was old and gave up on 100 degree weather, could have been worse. Still, the memory of just last month, of changing a tire on a heavy car in 112 degree weather was one of the reasons why I decided not to fix it and get a new car (or a good used one, I am not picky) …
…and small too.
So, Not knowing much on how the deals are these days, do you have some recommendations? What about hot weather resistance? Big down payment or get a loan from my credit union? Or as some of my coworkers did recently: get a deal from the dealer? 2nd hand or new? Some recommendations on how to read the fine print would be greatly appreciated!
Thanks in advance!
I just got a 2003 Saturn Ion and I couldn’t be more pleased with it. Hot weather has not been much of a problem (I’m from NV so the climate is similar–a bit cooler though)–and I got mine with a sunroof.
I am under the impression that the Saturn dealers do not work on commission, and I was under very little pressure when I was at the dealer.
Interest rates are really low right now. I got a deal with nothing down, and 0% interest for five years!
Here are my thoughts, FWIW:
-Personal leasing makes sense in very few cases. Buying is almost always your best bet. My definition of leasing is “The dealer loans you money so you can afford to borrow his car”.
-Go ahead and get pre-qualified for a loan at your credit union, but most manufacturers are offering extremely low or 0% interest loans. Go for the low cost dealer loan first. Having a pre-approval from another source will inhance your negotiating position.
-Even if you get the low or 0% loan a 10-20% down payment is a good idea if at all possible, especially on a new car. 100% financing is tempting but you will owe substantially more than the car is worth for the first 3 years or so. First year depreciation on a new car is ugly!
-Personally, I’s go for a good, low mileage used vehicle. Let somebody else suffer the new car depreciation.
Thank you Doctor Jackson and verbigerate, As for a loan, I will check the credit union, I have enough for a good second hand car and to pay it right away, but dealer offers for the 2003 models are sounding good so far, (it helps in the negotiations that my family is willing to gave me a 0% interest loan too 
)
[sub]Two dealers and already I had the “let me show you a car on the back that is a steal: low mileage and driven by an old lady before.” And I am not kidding. [/sub]
Most american car companies are giving 0% financing on new cars. It would probably make more sense getting new than used unless the price is really good.
If you’re not a “car guy” and don’t really care about racing or skid pad numbers then get whatever catches your eye. Most cars these days are fairly reliable and extended warrenties are probably a good idea depending on what kind of luck you have.
If you just want a small commuter vehicle (hot or cold weather isn’t really an issue with modern cars) look at maybe a new Focus or Sunfire. My knowledge of american cars is a little light but I’ve heard good things on the newer Foci (not the older recall riddled 2000 model).
I’d go for a used Honda. Reliable as hell, and the company/dealers promote a pretty good schedule of regular checkups and maintenance, so they tend to be in good shape.
Doctor Jackson is right–you really get burned on depreciation with a new car. Let someone else suffer through that, if you’re not hell-bent on getting a brand new one.
I know this is not an option for you now, but consider it for the future:
After a lot of years of payments, I started putting money aside for a cash purchase of a new vehicle. I bought a 1998 Jeep for about $21K. Three years later, I traded it in and bought a 2001 Jeep for about $21,500. In the three years, I put aside the difference between the old Jeep and the cost of the new Jeep and…paid cash again. Two years later, I bought a 2003 CRV, same scenario. So I’ve been driving new vehicles under complete warranty for the past five years, and I never pay out more than about $5,000 for the privelege. Hassle-free, worry-free, if you can swing it.
Lemme drive ya over to IMHO since you seem to be without yer wheels.
Whoa! My first moved thread!
It looks like my family can ruin a good plan. I told them the old car was not good and I was going to declare it a loss, so they went ahead and repaired it, so I have the old wheels again, officially, it is a loan until a get a new set of wheels, but my plan of getting another do continue, but at least a the pressure to getting one sooner is gone, (got to have air conditioning in this area)
Indeed badmana, I am not a car guy; however, there is a 3 year old VW beetle that looks good, I am not betting all on it though.
And CrankyAsAnOldMan: I will check the Hondas too.