New Car Advice

I think my car finally died and will be in the market for a car. I've always bought used cars only (newer models) and I'm pretty familiar with how that works. However, I've stumbled upon what appears to be awesome financing deals from Ford, Honda, etc., and now I'm wondering if I should go the new car route with the good financing deals. I wouldn't be in the market for anything sexy. If I went the new car route, I'm thinking something like a Ford Focus, Toyota Corolla or Hyundai Accent. I went on TrueCar today and it opened my eyes.

Does anyone have suggestions for finding the best prices/financing offers/deals on new cars? I'd really appreciate your input.

All depends on the deal you can get. I only buy new cars myself, but I also keep them till they die.

The Hyundai Accent is a different class of car from the Focus and Corolla. With that said, as much as I love my Hyundai Sonata, stay away from the Accent. Drove one...tin can on wheels, very very basic sub-compact car. The Hyundai Elantra on the other hand I would highly recommend, girlfriend has one (2016) right before they restyled the current model. The Elantra is in the same class with Focus and Corolla. If you can find a good financing deal on an Elantra, I highly suggest giving is a serious look.

The Hyundai Accent is a different class of car from the Focus and Corolla. With that said, as much as I love my Hyundai Sonata, stay away from the Accent. Drove one...tin can on wheels, very very basic sub-compact car. The Hyundai Elantra on the other hand I would highly recommend, girlfriend has one (2016) right before the restyled the current model. The Elantra is in the same class with Focus and Corolla. If you can find a good financing deal on an Elantra, I highly suggest giving is a serious look.

Ironic that you mentioned this. I just was on the dealer's website and now realize the Elantra is a better option over the Accent and minimal price difference. I'm trying to figure out what bonus cash back means and if things like this are gadgets to get you in the door and then you don't "qualify" because the car is on sale, etc. The same with financing: Does 0%/60mos. really mean that, regardless of any sales/negotiating?

Get a 2 year old car, you can get a ton more for your money. Similar financing available at many lots along with warranty and approximate 20-25% savings from a "New" one.

I've bought several new cars but I doubt I ever will again, too many quality used vehicles on the market to pay new car money for me.

Ironic that you mentioned this. I just was on the dealer's website and now realize the Elantra is a better option over the Accent and minimal price difference. I'm trying to figure out what bonus cash back means and if things like this are gadgets to get you in the door and then you don't "qualify" because the car is on sale, etc. The same with financing: Does 0%/60mos. really mean that, regardless of any sales/negotiating?

0% is exactly that, if you qualify for it. Check and see what is required for that rate. Sometimes it's only for certain models or even certain trim levels of specific cars.

Ironic that you mentioned this. I just was on the dealer's website and now realize the Elantra is a better option over the Accent and minimal price difference. I'm trying to figure out what bonus cash back means and if things like this are gadgets to get you in the door and then you don't "qualify" because the car is on sale, etc. The same with financing: Does 0%/60mos. really mean that, regardless of any sales/negotiating?

The 0%/60 stuff I can't speak on, I guess you will just need to stop and talk with a dealer. I do highly recommend the car though. Can also make a recommendation to a salesman at an out of state dealer (in North Carolina) that may be able to give you the best deal possible, if you are willing to travel some or have it driven/delivered. Bought 2 from him and got us better deals than we could find around here.

Get a 2 year old car, you can get a ton more for your money. Similar financing available at many lots along with warranty and approximate 20-25% savings from a "New" one.

 

I've bought several new cars but I doubt I ever will again, too many quality used vehicles on the market to pay new car money for me.

That hasn't been my experience or understanding, they usually want a larger down payment and I don't think I have ever seen 0% on a used car, but I'm not an expert either.

Do the math on 0% financing vs rebate. I once had a better deal taking the rebate and doing really low % credit union financing.

That hasn't been my experience or understanding, they usually want a larger down payment and I don't think I have ever seen 0% on a used car, but I'm not an expert either.

That's why I said similar. If you have good enough credit to receive 0% on a new car you can still get a really really good rate on a used car. The difference in finance charges are much less than the difference in the price of a new and a 2 or 3 year old car.

The best new car advice I can give you is to buy a used car.

I always do 0% on new.

A little research shows that most 0% Financing needs 700 but more likely 750 range credit score. While many may have that the vast majority of people walking onto a lot asking about it do not qualify, if you do qualify for 0% and it's on a model that YOU like not one you are steered towards than that may be a good deal for you. But I still think a vehicle 2 to 3 years old is the best bet.

Son-in-law purchased a used 2016 Ford Fusion with only 21,000 miles and some change on it for $16,000 and the car was loaded and neither he nor I could find a scratch, dent, or scuff mark inside or outside of the car. The warranty of 3 years and or 36,000 will still be honored by the dealer and for just a couple hundred more he got a seven year or 100,000 mile warranty. He was able to put down enough to only finance 10,000. Yes he got a great deal!

I'll never buy a new car again. Bought a Chrysler 200s for my wife in 2013. 2 years later a lady at work bought one almost exactly like the one I bought for about $12,000. Around $10,000 less.