The links abover are from edmonds.com, which seemed like the best source for information on the cars.
In the event that I cannot get a new car and make it worjk financially for me, I am looking for a used car which meets the following criteria:
[ul]
[li]Up to $9,000[/li][li]Automatic Transmission[/li][li]Air Conditionin[/li][li]50,000 Miles or Less[/li][li]Cruise Control[/ul][/li]My last car was a 1995 Ford Escort which, add cruise control and a different color was perfect for my needs.
Yer pal,
Satan
[sub]TIME ELAPSED SINCE I QUIT SMOKING:
Three months, three weeks, six days, 22 hours, 23 minutes and 14 seconds.
4757 cigarettes not smoked, saving $594.66.
Life saved: 2 weeks, 2 days, 12 hours, 25 minutes.[/sub]
"Satan is not an unattractive person."-Drain Bead
[sub]Thanks for the ringing endoresement, honey!*[/sub]
Well, I’m not an expert on American cars, obviously. But the way I see it, all cars can be automatic (spit take) and have aircon. Personally, I like a car that can corner very well. From your list, I’d pick the Ford Focus (although I hate its looks) and the Honda Civic because they’re both equiped with an awesome undercarriage.
Unfortunately, Peugeot does not export to the US anymore: them’s good cars
I work in a Chevrolet dealership, but if I were going to buy a new car, I’d go with the Honda. Better built car than any Chevrolet on the road, IMHO. The only thing that I have heard about any import that is on the downside is the cost of their upkeep. Spendy, or so I hear.
I bought a 2000 Saturn LS1 with the full power package, including cruise control, last week. They have stopped making 2000s, so I had to be flexible about the color. I ended up getting my second choice, which was black. It is a great car, and the Saturn people are really nice. Brand new, I spent about $10,500, which is very reasonable for a new car. I was looking at used VW New Beetles before I decided on a Saturn, and they were running for around $10,000 with 20,000 miles on them. I decided if I was going to spend that kind of money, I would go for a new car, even if the New Beetle was cuter
I have heard that Daewoo cars are crappy, but I don’t have any proof to back that up.
Good luck car shopping, and let us know what you get.
Rose
Avoid Daewoo at all cost. They’re terrible cars, you’ll end up paying more for them. Trust me on this one, Brian. I know someone who has one, and it has been in the garage more than on the road.
A Golf costs a cople of crucial thousand dollars more than anything above, which is the difference between having a car and being able to afford to actually drive it places!
Yer pal,
Satan
[sub]TIME ELAPSED SINCE I QUIT SMOKING:
Three months, four weeks, 3 hours, 1 minute and 15 seconds.
4765 cigarettes not smoked, saving $595.63.
Life saved: 2 weeks, 2 days, 13 hours, 5 minutes.[/sub]
"Satan is not an unattractive person."-Drain Bead
[sub]Thanks for the ringing endoresement, honey!*[/sub]
Daewoo is in reorganization. This does not bode well for the car or for parts in the future.
Most Hondas I’ve run across have been well made.
Most Toyotas I’ve run across have also been well made (but dealer service has a reputation of being a bitch).
After narrowing it down to three or four makes you’re interested in why not try the Motley Fool trick of FAXing each dealer? DON’T WALK INTO THE DEALERSHIP–fax 'em(you can do this through the computer you’re using right now, but you already knew that).
In a form letter addressed to all you say you have narrowed it down to this and you’re looking for the best deal. Any dealer who demands you walk in and confront a salesperson to conduct any business gets scratched off your list pronto.
Conduct all your business by FAX. Walking on the lot puts you at your weakest and their strongest. When you do finally walk onto the lot bring a friend who used to sell cars, if you have such a backup.
I have owned a couple and had no problems. Marcie is driving a 1991 Civic that she bought new. I absolutely love that car, except for the lousy automatic seat belts. It has been trouble-free for nearly ten years and that says a lot.
I’m not a fan of foreign cars, but do realize there are some good ones-however-stay away from any first year models. They have not been on the road long enough to shake out the bugs. Following years will probably see redesigns and you will be stuck with an obsolete model.
I would consider Korean imports to be very shaky, even if they have developed an ok history. If you’re going with a Japanese car, choose one that is manufactured here-better parts availability and prices-which will affect how fast it depreciates.
I violated my own ‘no first year model purchase’ rule once. It was a 1996 Ford Contour. But i understood it had been run extensively in Europe for a year or so before with good results. It proved to be a great car, but I’d made the mistake of leasing it, so I wound up buying a 1998 Contour when the old lease ran out.
Anybody know, are there many Ford Contours on the roads in Europe?
Satan, I’ll offer up a skinflint’s perspective on automobiles and personal finances. I’ve owned somewhere around 15 or 16 automobiles, only one of which was purchased new. After that singular new car purchase I cannot see doing that again, at least not until I’m looking for ways to lose money. Unless you do it as a business, a lease makes no sense.
So, my strategy until I’m bleeding money has been to settle on a make or model that I know to be a good one and purchase used. I have focussed on BMWs and bought my last car via a search on Autotrader, a BMW 735i w/66K miles for $5000 in cherry condition. I’ve had it for two years now and I’ve spent about $2000 on maintenance - I can live with that equation for the next 6-9 years that I’ll probably keep it. My previous car was a BMW 320i that had 70K miles when I bought it and I drove it for 11 years. One thing about BMWs I’ve noticed in my searches is that they are either very well maintained or (rarely) thoroughly trashed.
I’m not pushing Beemers; you can settle on the marks you think are deserving yourself. My sole thought is research and find the ones that are well built and beat the depreciation curve by purchasing a few years old.
One other thing I learned last time around - I bought the car from a consignment dealer and it was listed on Autotrader @ $4995. I spoke to him on the phone and confirmed details and when I got to his lot I noticed the car had a $5995 sticker. When I asked him about that he told me the thinking amongst the dealers is that if someone is out shopping the lots or newspaper ads they can only cover so much territory in so much time, whereas someone shopping on the 'net is seeing almost all of what’s available so the posted prices are more competitive.
I punched in a Raleigh zip code and a 50 mile radius in Autotrader and found 16 BMWs for sale under $10K.
And lastly, my best value per dollar spent was undoubtably the 1975 Plymouth Gran Fury Police Interceptor I purchased in 1976 for $800. Ugly and fast, it was a true Blues Brothers mobile; it gave me another 150,000 miles before I sold it for $1600.
I would go with the Honda Civic. Although the Civic is not as well-made as the Accord, it will still last you a long time.
Second after the Civic would be the Toyota. The Echo is kind of ugly, but I know it’s very affordable. Toyota is also known as a long-lasting car in general.
Third on the list would be the Ford Focus, which is priced right for the first-time buyer, and has won design awards in Europe (I also believe it’s currently one of the biggest sellers in Europe).
I don’t know enough about the others to recommend them to you, although I know that those who buy Saturns are very loyal to them. I would stay away from Daewoo and Mitsubishi (have you ever listened to Daewoo and Mitsubishi engines that are a few years old?).
Beatle makes a good point about “beating the depreciation curve” by buying a car that is a few years used. But beware! In some rare cases, the used car can be “more expensive.”
A case in point:
We wanted to purchase a Subaru Outback in 1998. We were expecting to drive it at least until it was 10 years old. So, if we bought new, we wanted to drive it for at least 10 years. If we bought a 3-year old car, we were expecting to drive it for at least 7 years.
In 1998, the demand for the Outback was greater than the supply. This pushed the prices for the used cars way up. A 3 year old one cost over 18,000. We bought a new one for 23,000 and change. (Admittedly, that was a super deal. Long live Flemington Subaru!) So, the new one cost $2300 per year of expected use. ($23,000 / 10 years ) The used one would cost $2571 per year of expected use (18,000 / 7 years). So, the used one was more expensive “per year.” That’s not even taking into account the fact the better warranty and the free dealer service, etc. that you get with the new one. Plus, you miss out on the three “best” years of the car. So the new one was the better deal. (We didn’t have the option to buy an older-than-3-year-old one because the Outback only came out in 1994 or 5)
Anyway, just keep in mind that the used car may not always be a better deal.
