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There's no shortage of used cars for sale on auto row in my town now. I would guess (wild rear end guess) that prices fall another 25% by this winter as dealers try and unload inventory with minimal losses. 10% economy wide inflation is going to cause car prices to rise to meet current prices anyways. Looks like the floor for a used Miata is going to be 12-15k forever If china goes into full lockdown mode for another 90 days all bets are off though
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Aug 8, 2022 18:22
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If I owned a newer BMW out of warranty I would probably want to be sure I could stomach a $4,200 repair as a one-off event. The M5 is costing me like... a dollar a mile in maintenance / repair / etc but I think I'm finally all the way through the stupid PO maintenance deficit. It's also 20 years old and has 117k miles on it.
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Aug 8, 2022 18:46
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I'm looking to purchase but I'm very much not a car guy and not sure where to start so hello! Proposed Budget: <$40K, but more important to me is monthly payments of hopefully less than $600 (credit score is around 800) New or Used: New "regular" car or used luxury Body Style: Prefer sedan (I insist on 4 doors) but open to SUVs potentially. How will you be using the car?: 80% will likely be driving me, my wife, and dog to places like 5-10 mins away in the neighborhood (Queens, so technically "the city" but with some specific locations of note slightly spread out). Occasionally might go into other boroughs for things annoying to get to on public transportation, hauling a group of ~5 around the city, or take 3-6 hour road trips with the wife for hiking/camping. A *chance* in a few years of a kid which could mean trading this one in if I go with something that just isn't appropriate for that. What aspects are most important to you? Reliability and safety are definitely most important and I'd be cool with a Honda or Toyota, but I can't deny there's a part of me that is interested in something snazzier/upscale. Comfort is a big thing for us so it'd be great to have things like heated/ventilated seats, a nice navigation UI, etc. but I don't know how realistic that is with this budget and this market. A good MPG is nice of course but I'm willing to trade that for something more comfy. Happy to answer any other Qs, again I don't really know what i'm talking about!
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Aug 8, 2022 21:15
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Jay-V posted:I'm looking to purchase but I'm very much not a car guy and not sure where to start so hello! There's probably over 40 options available to you that would meet your requirements. There's at least 20 brand new options in the mid/large size sedan under 40K category. We'll definitely need more info to help you narrow it down. I would default to a new Camry or Avalon though, and go from there. Both are available in Hybrid form, but I doubt you'll drive that much to make it worth it. What's your parking situation like? I'm not familiar with Queens, but do you have offstreet parking available to you? I personally wouldn't spend 40K on a new car and then street park it. I rather buy a 20K car that I won't care about as much getting messed up. A 40K budget just gives you a ton of options. You're talking used 2018 BMW 530 to a new top of the line Camry.
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Aug 8, 2022 21:43
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skipdogg posted:
40k will actually net you a base model 7 series, which is equivalent to a top line 5 series, but with a larger back seat. Finding an m sport trim* 5 series is hard as most of the 5 series on the market are rental trash, but 80%+ of 7 series come with m sport trim Avalon is a great option, like a Camry but bigger inside, slightly more plush, nobody knows they exist so prices are similar to a Camry *This is the exterior trim level used in all marketing photos, most BMW for sale are shadow line or something awful I forget the other one
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Aug 8, 2022 22:00
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the only way i would want a 7 series in Queens is if it came with a driver
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Aug 8, 2022 22:01
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With all the parking assist crap it's pretty hard to hit things, and other than length, it's not much larger than a 5 series If you can afford a 40k car in the city you can probably pay to park it at your destination
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Aug 8, 2022 22:09
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skipdogg posted:There's probably over 40 options available to you that would meet your requirements. There's at least 20 brand new options in the mid/large size sedan under 40K category. We'll definitely need more info to help you narrow it down. Yeah, as I started looking into things I was quickly getting overwhelmed so was definitely leaning on Camry, Civic, or Accord as my defaults. I'm lucky enough to have a covered parking space at home which is why I'm OK with potentially splurging a bit more, but yes the majority of parking that will be available when I'm out and about would be street parking. For the hypothetical 2018 BMW vs a new Camry, what is a good way for me to frame up the trade-offs... like, obviously BMW is BMW and new means having total knowledge of the car's history, but when it comes to trading it in after 5-6 years will i be kicking myself for paying extra for branding? e: ooh maybe an avalon makes sense...
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Aug 8, 2022 22:13
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Before we get too excited how much do you have for a down payment? 40k but 600 monthly is ominously worded but well in reach with ex. putting 6000 down on $40k out the door on a 5 year note. I just get worried about anyone qualifying that section hasn't done (or doesn't know how, which is also ok) the algebra to know what they're able to do in their budget.
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Aug 8, 2022 22:16
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zedprime posted:Before we get too excited how much do you have for a down payment? Good point, I was actually thinking of putting down 6K but am comfortable putting down up to 10K (is this something I should always simply do if I'm able to, or is it generally better to put the 4K towards something else?)
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Aug 8, 2022 22:24
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Jay-V posted:Good point, I was actually thinking of putting down 6K but am comfortable putting down up to 10K (is this something I should always simply do if I'm able to, or is it generally better to put the 4K towards something else?) It's generally optimal to finance as much as possible if you can get a low enough interest rate (2-3%), but that assumes you're doing something better with that 4 grand than leaving it in a savings account and also that you aren't the kind of person who hates having debt.
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Aug 8, 2022 22:27
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I am of the opinion that it's advisable to never be underwater on the loan (which means the value of the car is lower than the payoff amount of the loan. in the normal times this involves putting more money down than minimums. in the now times everything is wacky so the car appreciates when you drive it off the lot)Hadlock posted:With all the parking assist crap it's pretty hard to hit things, and other than length, it's not much larger than a 5 series the E39 is the largest size car I would ever own in a city and it's still annoying at times. I would rule out the Avalon and Accord for size reasons. OP is actually a reasonable Acura Integra candidate. It's a fancy Civic, so it's relatively small, and it's nicer inside and better isolated than the Civic. Any of the small Lexus SUVs or the Toyota Venza would work, as would the various Mazda CUVs and the Mazda3.
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Aug 8, 2022 22:34
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KillHour posted:It's generally optimal to finance as much as possible if you can get a low enough interest rate (2-3%), but that assumes you're doing something better with that 4 grand than leaving it in a savings account and also that you aren't the kind of person who hates having debt.
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Aug 8, 2022 22:42
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A car is like the right size capital investment to do stupid psychological debt structuring instead of beep boop money maximization. Minimum down while you keep as much money as possible in investment accounts is the robot's choice (and comes with some risk mitigated by being a robot in every other decision you make by the way). Meanwhile, just going to spend that $4000 on a brick pizza oven you don't need? Put it toward your car instead. Does a $650 car note mean you spend $50 less on pizza every month? Maybe keep that $4k for something else.
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Aug 8, 2022 22:56
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zedprime posted:A car is like the right size capital investment to do stupid psychological debt structuring instead of beep boop money maximization. Minimum down while you keep as much money as possible in investment accounts is the robot's choice (and comes with some risk mitigated by being a robot in every other decision you make by the way). But then I can have a brick pizza oven AND a car! The most realistic argument I can think of for financing more is "I'm going to spend the money either way but financing the car is a lower rate than financing the other thing." It can also be the opposite too - going to buy a car and build a new kitchen with cash? If the HELOC is cheaper than the car loan, do that and put the cash on the car. ethanol posted:the key word here is assumes... that people who buy 40k vehicles aren't going to find ways to use that money on something else like a credit card. Last year I put way more than 10k down on a 40k car because the idea of a $400-600 a month payment was ugh. I think if I made about 25--50% more salary I'd have kept the money and financed more though lol If financing 4k more on your car lets you pay 4k of credit card debt down, you should take that trade 100% of the time. KillHour fucked around with this message at 23:55 on Aug 8, 2022 |
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Aug 8, 2022 23:51
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Yeah I’m gonna do more thinking on a better way to use $4K but tbh would be nice to have a bit less to pay each month.KYOON GRIFFEY JR posted:
Thanks, will take a look at these. Didn’t realize Mazda had a reputation for reliability until looking it up just now.
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Aug 9, 2022 00:49
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This may be very much the wrong thread for this, so sorry if so, but I'm looking for goon help on how to buy a car - I know exactly what we want (trim options package colors everything) on our two options (Telluride or Sorento) and we're okay waiting like 6+ months to get the exact car we want, but I straight up don't know how to go about it. In a perfect world I'd just order what we want from the internet and avoid any human interaction, but ah well... I've been to a Kia dealership to test drive and talk abt the thing; Tellurides are hard af to find rn (I'm sure this is known to most here), Sorentos less so but still difficult; this dealer and another I called have said that Tellurides have a 10k-15k markup new, but I have a feeling they're just trying to get me to compromise on options etc so they can sell me their stock as I've heard of folks buying a telluride in the area with a 2k-5k markup which honestly I'd prob be okay with (prefer not much more but idk what the standard is). Anyway I'd love to avoid dealing with salespeople and their sales graft as much as possible, I tried AAAs car buying service except I've waited on hold for over an hour multiple times and no one picks up, so meh. Looking at Consumer Reports car search/buying service but I can't tell wtf is an actual utility/tool to buy a loving car, and what is a hidden ad to farm my email address so dealers can email me listings of used cars I don't want. I just want to order the car I want, pay MSRP + something reasonable bc I understand capitalism exists, and receive it hopefully before next summer. Do I just start calling dealers, telling them exactly what I want, asking if they'll order it from Kia for me and also put the total price in writing? Or do I fly to Korea and buy the car from the factory and drive it back across the floor of the ocean? Goons what is the path of least resistance/annoyance here?
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Aug 20, 2022 12:45
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Yeah your best bet is to start calling dealers and find one that guarantees MSRP. They do exist out there. Reddit and just searching for "no MSRP in <state>"" will get you close, but you'll need to call and confirm. There's a couple of crowdsource sites that can help you find them too: https://markups.org/all
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Aug 20, 2022 13:33
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Another good resource is leasehackr. They have a section for brokers (people who buy cars for you) to advertise. The way that works is the broker negotiates everything with the dealer beforehand and does all the paperwork for you in exchange for a smallish fee (~$500). You may have to travel to get the car or have it delivered at your own expense but that's just the nature of things sometimes. I bought my M4 that way, and it was a (nearly) stress free experience compared to trying to do it yourself. And I consider myself an experienced car buyer.
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Aug 20, 2022 13:59
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I don’t think it makes sense to use a buying service when you are willing to pay MSRP plus ADM on a commodity car. Just call a few local dealers and tell them what you want. You can probably email them if you are a goony goon who can’t talk on the phone.
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Aug 20, 2022 16:23
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KYOON GRIFFEY JR posted:Just call a few local dealers and tell them what you want. You can probably email them if you are a goony goon who can’t talk on the phone. I feel attacked
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Aug 20, 2022 16:25
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KYOON GRIFFEY JR posted:I don’t think it makes sense to use a buying service when you are willing to pay MSRP plus ADM on a commodity car. Dealers pretty much never respond to email or they just say to come in. I just offered it as an option for the least effort involved. Generally, brokers have pretty decent pricing and they list their non-negotiable pricing up front.
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Aug 20, 2022 16:37
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Aug 20, 2022 16:37
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Cast a wide net and be willing to go pretty far to get the car you want (assuming that's someone you're able to do). We ended up buying from a dealer quite a long drive away because they were responsive and offered a price we liked. Not sure how much of the rest of our experience is relevant nowadays. We purchased just before covid hit. Our strategy was to email tons of dealers in a large radius with a low (but not insultingly low) offer. Even then we only got a few genuine responses.
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Aug 20, 2022 17:04
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All awesome feedback thanks y'all - as someone who has never done carbuying on their own, how difficult is it for a dealer to order the car we ask for if we're willing to wait, vs. having to compromise for the closest we can find that a dealer already has in inventory? I'm definitely a goony goon but with enough mental preparation and support from family/friends I can make phone calls, so totally cool calling a dozen dealers and saying "i want this for this price [being MSRP +5k idk]" and seeing what we get; I just have no personal gauge of what is reasonable to ask/expect of a dealer Those links are super nice for looking for dealers that don't have crazy markups; I looked on that forum and don't see a broker in my area (NC), but generally i'd be totally willing to pay a reasonable fee for someone to deal with this ish - but I'm also willing to do it myself, so long as I can figure it out. Yeah I'm willing to drive out of state if it's the right car, plan to drive this thing for a decade+ so a lil road trip is fine.
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Aug 21, 2022 14:20
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10 years ago the Costco car buying program worked well for me. If I end up needing to buy a car soon (God I hope I don’t) I’ll start there.
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Aug 21, 2022 14:52
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Start off asking for MSRP + destination, taxes, fees, etc, say you are in no particular hurry, and ask what the lead time will be and what the cost will be. Make sure you get an itemized cost breakdown in writing (email is fine). Be prepared to pay a deposit to secure the car; this deposit should be fully refundable. If a car is inventory it will probably have an ADM, and since you are willing to wait you should do that to get the best price on what you actually want. North Carolina is a big state with plenty of dealers. It can be somewhat more helpful to buy a car in state; often the dealer will then handle registration and paperwork (in exchange for money of course) and they are less likely to gently caress up the taxes.
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Aug 21, 2022 17:02
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In fact, depending on the state, the dealer might charge you to temporarily register the car in their lovely state just for the privilege of driving it out. New Jersey was like this. Different states also have different laws about how much the dealer is allowed to charge in "documentation fees," which are bullshit but every dealer will charge the maximum legal amount down to the penny.
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Aug 21, 2022 17:52
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I love that dealers are such a roadblock in purchasing a new car, that people would pay for the provide of not having to deal with them directly and this is a service you can buy at a big box store 
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Aug 21, 2022 18:32
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Do US dealers just normally get a lower margin than other countries? The dealer markups are ridiculous. Cars are way cheaper in the US than elsewhere (just checked and mine is 48% more at MSRP here vs the US), just wondering how much is in the dealer profit vs… idk something else. E: my mistake, my car is only 30% more expensive knox_harrington fucked around with this message at 18:43 on Aug 21, 2022 |
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Aug 21, 2022 18:40
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Everything is cheaper in America, they just make up the difference on volume I've wondered out loud for years why europeans don't fly to the states to buy their laptops. The price differential is (or was, pre pandemic) greater than the cost of a budget ticket to anywhere on the east coast. What is a $800 laptop in the states is usually $1500 in Europe, if you can even buy that high a spec laptop. Technically you need to declare it at customs but  Full disclosure: flew to Hong Kong to get a custom wedding tux made for the same price as a rental
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Aug 21, 2022 18:44
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knox_harrington posted:Do US dealers just normally get a lower margin than other countries? The dealer markups are ridiculous. Cars are way cheaper in the US than elsewhere (just checked and mine is 48% more at MSRP here vs the US), just wondering how much is in the dealer profit vs… idk something else. The US doesn't have VAT and any taxes on the car are tacked on in addition to the purchase price.
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Aug 21, 2022 18:45
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dealer margins on new vehicles are very low
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Aug 21, 2022 18:46
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KillHour posted:The US doesn't have VAT and any taxes on the car are tacked on in addition to the purchase price. these taxes are much lower than like, anywhere in Europe, though
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Aug 21, 2022 18:46
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24% VAT and up to 48.9% car sales tax  
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Aug 21, 2022 19:04
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KYOON GRIFFEY JR posted:these taxes are much lower than like, anywhere in Europe, though Right but the point is when a European country builds a 30% VAT into the price, that's the majority of the difference.
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Aug 21, 2022 19:38
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KYOON GRIFFEY JR posted:Make sure you get an itemized cost breakdown in writing (email is fine).
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Aug 21, 2022 21:22
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Hadlock posted:Everything is cheaper in America, they just make up the difference on volume Because it also eats a big chunk out of your vacation time and you have to favor in hotels et c. Also youll have to live with an American keyboard layout which you might not want (even the UK layout is different from the US). That said I’ve totally done this because as a coder I used US layout over Swedish anyway, and my boss would make bank on buying iPads in the US when they came out and flying them back. quote:Full disclosure: flew to Hong Kong to get a custom wedding tux made for the same price as a rental Same but for suits. Which came in handy when my airline lost my luggage on my way to a wedding and I was staying in HK for a few days. Got a 24 hr turnaround on a new suit from the same measurements in time to get to Manila for the ceremony.
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Aug 21, 2022 21:49
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KYOON GRIFFEY JR posted:Start off asking for MSRP + destination, taxes, fees, etc, say you are in no particular hurry, and ask what the lead time will be and what the cost will be. Make sure you get an itemized cost breakdown in writing (email is fine). Be prepared to pay a deposit to secure the car; this deposit should be fully refundable. Awesome, going to run with this (in true goon fashion I'm going to make an email template and email to a ton of dealerships before i start calling muahahaha) - also really good call re: buying in state bc of registration and tags, we do have a ton of dealerships in NC so I'll try to exhaust those before I move elsewhere. Thanks so much everyone!
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Aug 22, 2022 16:43
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black.lion posted:Awesome, going to run with this (in true goon fashion I'm going to make an email template and email to a ton of dealerships before i start calling muahahaha) - also really good call re: buying in state bc of registration and tags, we do have a ton of dealerships in NC so I'll try to exhaust those before I move elsewhere. I would call first, imho. If you email 10 dealers these days you'll get 9 ignoring your email with a "when can you come in and test drive?", and the 10th just won't respond.
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Aug 22, 2022 16:49
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