Where are all the great deals? (2009, best, trucks, buy)

[MainLineMommy]

So I keep hearing in the media about all these great deals being offered for new cars, but I can't seem to find them. We had a perfectly wonderful 2005 Hyundai Elantra that was almost paid off, and then got rear-ended very hard (we were stopped). There is damage to the frame and the insurance company has totaled the car.

We are assuming at this point that they'll offer us what's left on the loan. If we get more than that, great, we'll apply it to the new car. But we're not counting on it at this point.

To replace the old Elantra with a new Elantra, our payments are going to go up quite a bit, based on the pricing I've found online. We got the old one for $14,600 after all fees and such, and financed $12,600, so our payment has only been about $250 a month. I really don't want to go higher than that, unless we do a 48 month loan istead of 60.

So where are all these car deals? We figured we could get a great deal on another Elantra, but the best we've seen is $2k. I'm not sure about additional discounts for Hyundai owners, which I've heard are supposed to be good.

We then looked at several other manufacturers to look for the deals and came up pretty disappointed. We'd like to walk out of the dealership after all is said and done, taxes/tags/etc, for $15k or less. Nothing smaller (or slower) than an Elantra. Are we out of our minds?

[caution]

I'd say no. You get what you pay for. Just stay with the limit you want and buy a new or used car that does what you need it to do.

With all the talk about inventory and sluggish sales, if you live in an area where the economy is doing OK or "still breaking even" chances are you won't find any huge bargains at the car dealer. Even if you live in an area that is hard hit, they're still going to make money selling the car-- just maybe a little less than they would have this time last year.

Many companies now offer "new car replacement" for a nominal fee. You might want to check into that the next time around. Some lenders even offer same on used cars. Good luck searching.

[texdav]

I li9ve in a area that is doing fine in the recession. Still people including myself are finding very good deals on vehcioles at new dealerships. I bought a new Odesssey at 2000 below invoice with 0.9% financing.I know several friends who bouhgt new trucks several thousnds below invoice with 0% finanacing. Used car from individuals they say are getting harder to find as so many are going that route.

[M3 Mitch]

Suggest you look at the full spectrum of new and used cars that are available in your area, particularly consider one-owner used cars that you can buy direct from the current owner. You can learn a lot by meeting the original owner of the car.

The Elantra strikes me as a pretty ordinary car, generic 4-door 4-banger econobox, for the same money how about a used Corolla? Or a Honda of some sort?

If you can drive stick, get the 5-speed, add a dash of Tabasco to what othewise is a pretty drab enchalada.

[DailyJournalist]

Checkout the Ford Focus or Chevrolet Cobalt.

[Stratford, Ct. Resident]

Originally Posted by DailyJournalist

Checkout the Ford Focus or Chevrolet Cobalt.

I'd recommend skipping the Cobalt. I had a Cavalier, purchased new, that served me long and exceedingly well. I recently rented a Cobalt and i was really, really underwhelmed by it. It was not much of an improvement over its predecessor, the Cavalier. I hope for Chevy's sake that the upcoming Cruze is truly class competitive, because the Cobalt certainly is a disappointment.

[M3 Mitch]

Yeah, I rented a Ford Focus, got a sort of sport-station wagon model, was favorably impressed with it, but soon after that rented a Cobalt, the Cobalt reminded me it was an econo-box every minute I drove it.

In any case - you don't have to buy new to get good.

[whiteboyslo]

considering Hyundai is just about the only company that's doing half-decent in this economy, i would say you're just looking at the wrong brands for the best deals. personally, i second the notion of checking out the Ford Focus.

Mike

[Steve_TN]

Check Carmax for used cars under 1,000 miles. They are buying brand new cars from dealers that have been forced to auction off their inventory by the bank. So, technically it would be a used car, but it really isn't.

[Rcm58]

Originally Posted by Steve_TN

Check Carmax for used cars under 1,000 miles. They are buying brand new cars from dealers that have been forced to auction off their inventory by the bank. So, technically it would be a used car, but it really isn't.

I've noticed this too. I saw a 2009 Chevy Aveo that came from a dealership that had closed down, was offered as used by another dealer even though it was a brand new car with full warranty and the price was 8K. The deals are out there.