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I moved this post from AI: I'm poor and purchasing my first new car. I have no idea what I'm doing and don't want to be ripped off. Its a 2021 Hyundai Accent (automatic IVT - I never learned how to drive a standard). Here is the deal I was offered. I feel like they made (I told them I needed a week to think about it) MSRP: $17,370.00 <=== this seems higher, than the SE CVT as advertised on the company website listed at $16,495.00 - Selling Price: $16,678.00 - Rebate: $1,000.00 So: $15,678.00 is the base cost. Govt Fee: $345.00 Proc/Doc Fee: $499.00 Lifetime BPP Purchase $1,195.00 <===this seems to be some service add-on that I can refuse, I am strongly considering removing it Total Taxes: $1,102.32 So: $18,819.00 total I'm putting a little over 20% down on a 60 month loan at a pretty decent rate (under 3%). I'm confident I can make the monthly payments on this. I'm just looking for a small, affordable car to commute and make the occasional long distance holiday trip to visit family. No kids. Is this a good deal for me? Let me know what you guys think.
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Oct 20, 2020 06:05
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| # ¿ May 19, 2024 12:31 |
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I bought a 2020 Hyundai Accent a while back and have about 18 months left on my car loan. I work from home, and aside from a couple long distance road trips a year I don't use it for much more than shopping, etc. As a result, I have less than 13k miles on it. No scratches, dents, etc. I'm not a car guy, and this was my first new car. While I haven't had any mechanical issues, I was very cost conscious and got the most basic trim. In hindsight, I should have sprung for the SEL and gotten a few extra features (like Apple-play for the infotainment system, etc). I was looking at the market for cars like mine and thinking of trading it in for a better car once I pay off the car loan. 1. Given the recent spate of inflation and higher interest rates, am I an idiot for considering this? Should I just drive this thing until it or I die? 2. If trading it in isn't a terrible idea, here are my thoughts on a new car: Hyundai Elantra, Honda Civic, Toyota Carolla, maybe a Mazda 3, and (not a joke option) 2022 Hyundai Accent with an SEL package (assuming it isn't used and I can find it at a reasonable price). I'm not particularly brand loyal, and heard that the Toyotas are a lot more reliable, but I also heard you get a far worse trade in value if you try to trade in a different brand of car to the dealership (i.e. trading in a Hyundai for a Toyota. What would you guys do?
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May 1, 2024 06:21
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Hadlock posted:Are you only buying a new car to get car play? What other factors are driving throwing away your sweetheart financing deal and having a nearly paid off car, vs buying one at a huge financing cost 1. I keep hearing people say that my Hyundai is a ticking time bomb with regards to potential car troubles in the future. I figured if I could get a high re-sale/trade in value for a Honda or Toyota, it might be a good idea to do so now (i.e. have a larger lump sum paid into a more reliable car). The idea was to effectively extend the loan for a few more years for a slightly better/more reliable car (I was just thinking about this and haven't gone to any dealers to see if the math would work). 2. Honestly, the only feature that is missing that irks me is the lack of integrated navigation in the infotainment console. I never considered just paying someone to modify my car. Also I figure if I only average 3k miles a year, it may take many years until I see any mechanical issues (if any do arise). I think I just wanted to run this idea with people who know more about cars and see if it was terrible or not.
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May 1, 2024 16:24
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Nitrox posted:How about $200? Thanks. I'll look into this.
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May 1, 2024 16:26
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