First time EVER buying car. Need your expertise!

DenOutside

DenOutside

Member
Joined
Aug 18, 2009
Messages
20
Location
Chicago, IL to Acton, MA soon!
Car(s)
soon, maybe a Civic or Integra
First thanks for all the help in my other thread :D

Ok. So I'll be flying to my first ever full time job (Illinois to Massachusetts) and I would need a car right away. So no test driving!

I'm pretty set on this used 06 Civic LX for $12,000 although if you guys have other advice, I'll look into them

My salary is $41,000 + $3,000 moving bonus but I only have $500 in my bank right now. My job starts Sept 1

  • How should I go about paying for this? I'm a complete beginner.
  • How much for the down payment?
  • What's my interest? (my credit is pretty good)
  • Is there anything I should bring to the dealer? (I've done a CARFAX report and the car is clean)

I don't want to be taken advantage of at the dealer (I'm 22 but look like 17. haha) so I want to learn as much here before calling the,

I also just graduated college and don't know whether to put more towards paying that off or the car...

Thanks!
 
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You're in luck. Here we have people who work in dealerships who can tell you all kinds of things... and people who used to work in dealerships who are free to tell you a whole lot more than that.;)

I myself have never purchased an automobile from a dealer lot so I can be of no use to you what so ever.:)

But anyway, welcome to the forums and good luck with your purchase.
 
First of all, no one needs to know how much you make. Second of all, you should go private party, especially with a civic. Third of all, why an 06? They really aren't that different year-to-year... get a cheaper 02 or something. Lastly, I approve of civics :)
 
LeVeL said:
First of all, no one needs to know how much you make.
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Well I put that down so you guys will know what my interest and monthly payments should be

LeVeL said:
Second of all, you should go private party, especially with a civic
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Then I won't get a warranty right? I really want one

LeVeL said:
Third of all, why an 06? They really aren't that different year-to-year... get a cheaper 02 or something
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The '06 is the first of the 8th generation of Civics. I've seen '02 and they go for about $8000-9000. '02 is the 2nd year of the 7th generation.
So there is a difference...
 
Austere said:
You're in luck. Here we have people who work in dealerships who can tell you all kinds of things... and people who used to work in dealerships who are free to tell you a whole lot more than that.;)

But anyway, welcome to the forums and good luck with your purchase.
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Cool, thanks!

Yeah, I keep hearing people getting surprise deals and discounts on the spot at the dealer. I hope I can work some magic with the insider advice here :)
 
You can't really go wrong with a Civic in terms of reliability.

I don't want to be taken advantage of at the dealer
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Yeah, good luck with that. Personally, I've never paid for a car with anything but cold, hard cash. Loans and financing are dealers' way of raking in the big dough from you.

I also haven't ever bought from a dealer. The better deals are to be found at private sales.

(I'm 22 but look like 17. haha)
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Woah... I have a twin down south? :eek: :lol:
 
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You may want to look at getting the loan through a bank. They tend to have better rates in my experience... which consists entirely of one loan from one bank.... but still.
 
This is probably a silly question, but if you're up for the drive, you could consider buying the car at home where you won't need it right this second. The reduced pressure and increased shopping time might help you get a better deal. I can't imagine buying a car without driving it at all. Test drives take what, 15 minutes? You wouldn't be jeans or shoes without trying them on but you'll spend $12,000 on a car?
 
flydiscovery said:
This is probably a silly question, but if you're up for the drive, you could consider buying the car at home where you won't need it right this second. The reduced pressure and increased shopping time might help you get a better deal. I can't imagine buying a car without driving it at all. Test drives take what, 15 minutes? You wouldn't be jeans or shoes without trying them on but you'll spend $12,000 on a car?
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That 1000 mile long drive is a bit crazy (that's 16 hours according to Google Maps) but I agree, the pressure is big on me...

And yeah, I guess at the dealership, I'll pretend like I'm not so desperate and request a test drive.

thevictor390 said:
You may want to look at getting the loan through a bank. They tend to have better rates in my experience... which consists entirely of one loan from one bank.... but still.
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They don't even have a Chase bank in MA! You're from MA. All of my accounts are on Chase. Would this be a problem?
 
In that case, you'll be wanting to switch banks anyway. Where in MA, just out of curiosity?

Oh and you don't strictly have to have an account with a bank to get a loan, but if you do, it's a lot easier and you usually get a discount.
 
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DenOutside said:
Then I won't get a warranty right? I really want one
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Its a Civic, you don't need a warranty.


DenOutside said:
The '06 is the first of the 8th generation of Civics. I've seen '02 and they go for about $8000-9000. '02 is the 2nd year of the 7th generation.
So there is a difference...
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I know its a different generation. What I'm saying is that I don't think the newer Civic isn't really worth the extra money over an older one. Its bigger, yes, but then you might as well get an older Accord.
 
thevictor390 said:
In that case, you'll be wanting to switch banks anyway. Where in MA, just out of curiosity?

Oh and you don't strictly have to have an account with a bank to get a loan, but if you do, it's a lot easier and you usually get a discount.
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I'll be living in Acton MA, (near Concord) and work in Maynard :D
Are you nearby?
 
What you also could do right now is buy a cheaper civic right now (mid 90's to late 90's), wait a year, then buy a newer civic. The 90's civics will go down maybe $500 in a year, so there would be not as much of a loss. And you would have more money to put down on the car.

but used car financing typically sucks when compared to new car financing
 
nouseferaname90 said:
What you also could do right now is buy a cheaper civic right now (mid 90's to late 90's), wait a year, then buy a newer civic. The 90's civics will go down maybe $500 in a year, so there would be not as much of a loss. And you would have more money to put down on the car.

but used car financing typically sucks when compared to new car financing
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Agreed, buy a much cheaper, older car and when you have actual money to spend, go and look at newer, more expensive cars.

Congratulations on the new job but it seems like you may be getting ahead of yourself.
 
DenOutside said:
That 1000 mile long drive is a bit crazy (that's 16 hours according to Google Maps) but I agree, the pressure is big on me...

And yeah, I guess at the dealership, I'll pretend like I'm not so desperate and request a test drive.
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I agree it's a long drive and you'd probably want to do it in 2 days if you're anything like me. I did 700mi though and it was SO much easier than I expected. I could easily have done more. It may not be appropriate for you (I don't know how much you usually drive and how comfortable you are), just something else to consider as an option. You could also then get your financing from your home bank. You're going to pay by direct withdraw anyway so why not.
 
OK try again - lost the post!!!!

UK comments but some may be applicable.

Buying pre-owned from a dealer;

1. Never ever tell them how much you have to spend - be bland about it - I have enough for what I want
2. Buy at the end of the month - preferably at the end of a quarter - they have bonus targets to meet
3. Do not let the sales man give you the old cross on a piece of paper with numbers on - never ever talk money till you have agreed on a car and a price - "No lets not talk about money lets talk about XYZ car and how much I have to pay cash for it." Even if you are not paying cash any how.
4. I agree if at all possible get a personal loan in place first from a bank - not secured on the car if possible - perhaps parents will go surity for you - much cheaper - so long as they have good credit histories.
5. Never get keen on a car - or show it, even if you are.
6. Research the deals on the web sites and look at the trade in prices for the car you are buying before you buy you should then know what is margin is - I use Parkers over here - presumably you have something similar?

What ours looks like:

http://www.parkers.co.uk/

They do look like they have changed since I last used them? Anyway.

7. The deal is only on for today - lie no it is not - be prepared to walk off site, infact if you are getting no where start to wander off - see what he does - there are plenty of cars and dealers out there.
8. Always find 'fault' with the car, something anything - wrong exact colour, tyres are too worn, look at the spare wheel, slim one or none at all look dissappointed and say oh I do not like that. Parking break, foot operated - perfer a hand version, hand version perfer a foot or electronic one etc.
9. If they are pressurising you say I have to bring my Dad/Uncle random mechanic in to look at it. ... Do not let them push you around - you have the money.
10. If he can not agree on the deal and has to refer to his manager - then insist on seeing his manager - someone who can do the deal.
11. Ask for extended warrantee - "You sell good cars?" "Yes sir we do" "Then back that up I want three years Warrantee"! or two mor years warrantee etc. Should get it for free.
12. Get a full tank of gas, a service, a valet - if it needs it, and the tax thrown in. You need to plan when you ask for this stuff, must not give the salesman the buying sign. A nice phrase is that is a little more than I was planning on spending given I have to service, fill it, clean it etc. You may get the extras then. Again do not be afraid to walk off the lot - plenty of more cars. You can say tha you are going to see an XYZ up the raod at Freds dealers. ...(Make it real as these blokes know each other).

I hope that this helps and good luck. I think there are others who would be the real deal for inside info in the US though - my stuff is just as a buyer from UK.
 
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Tip#1: Deal over the phone and work out a price before you even visit the dealer. It's easier and you'll likely do better. Then go to the dealer and make sure the car is satisfactory.

Tip#2: Don't buy a Honda Civic. :p

EDIT: I think that car already sold anyway.
 
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darkshark0159 said:
Tip#1: Deal over the phone and work out a price before you even visit the dealer. It's easier and you'll likely do better. Then go to the dealer and make sure the car is satisfactory.
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I have no idea how to talk a price down...Should I use the sympathy card? Say I just graduated from college and have student loans (fact)

darkshark0159 said:
Tip#2: Don't buy a Honda Civic. :p
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Huh???

darkshark0159 said:
EDIT: I think that car already sold anyway.
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Oh yeah...haha. Not to worry. I have backups (one post up)
 
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