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I dont know tell me....it would be my 8th car but i have never bought one that has been under 6 yrs old. Half of them have been cash cars, half were notes with big down payments and smaller notes. My credit needs work. I dont know.....so ENLIGHTEN ME!!
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,744 posts, read 58,102,528 times
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cheapest way to get a new car (and ONLY way I would get a new car)
get a job that provides a new car every year, tho you will have to subsidize 'personal' miles. (if allowed by employer). Or get a car as a legitimate business expense, tho VERY much a red flag to IRS, must diligently track business vs. personal use.
I dont know tell me....it would be my 8th car but i have never bought one that has been under 6 yrs old. Half of them have been cash cars, half were notes with big down payments and smaller notes. My credit needs work. I dont know.....so ENLIGHTEN ME!!
A car "flipper" is a credit risk since there is always the possibility of yet another car to be paid for. Also cash payments don't get recorded on your credit rating. Nice huh?
The cheapest way is to get the invoice price from a site likie edmonds.then not be in a real hurry to purchase. Your porblem maybe in getting the lowest rates like some makers are offering over banks for "well quailfied buyers" That means good credit. Alot depends also on how much you can put down as to how much interest you will pay.There are deals with ) interest and like 0l.9% for thsoe that qaulify with good credit.But you need to shop alot of dealers and be prepared to walk on deals if it isn't a good one.PS- when the saleaman leaves he often is getting your credit cheacked to see what kind of buyer you are.
Well IMO "cheapest", "smartest" and "new car" don't belong in the same sentence. It's the EASIEST part of the "new car" that negates the other two.
That said, I just recently bought the first NEW car I've ever owned (I'm 62) and my wife is driving the first NEW car she's ever owned in the 30 years we've been married. In both cases we bought new "models" (vast upgrades over PROVEN models) with long track records.
In both we got more than 10% off MSRP, in other words down around "published" invoice. We studied long and hard on the internet, "shopped" various dealers within 50 miles and WERE PREPARED TO (and in one case had our hands on the exit door) WALK if our price was not met.
Prior to these two our previous 50+ cars had all been one or two year old, PROVEN high reliability models. IOW, we didn't care about a flashy car, if the top five models on the road are Accord, Maxima, Camry, Corolla, Forester, we're probably driving one of the 5.
Personally, I think you take too big of a hit with depreciation when you buy a new car. I always pay cash for a low mileage 2 year old car. Cash talks.
Location: 23.7 million to 162 million miles North of Venus
23,648 posts, read 12,569,566 times
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Quote:
Originally Posted by faithfulFrank
Personally, I think you take too big of a hit with depreciation when you buy a new car. I always pay cash for a low mileage 2 year old car. Cash talks.
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