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Old 10-12-2013, 10:03 AM
 
Location: Asheville, NC
215 posts, read 499,386 times
Reputation: 72

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Posted another message about my 2003 Honda Odyssey(130k) needing a head gasket and now it's got me looking at Certified vehicles with finance. I don't want to buy another older car. I either want to fix this and hope the transmission then doesn't go, or buy under warranty.
Can't work out if it's a crazy idea or not. If we don't fix the Odyssey then it's trade in value will be terrible, what would I get given they'd know it's got this problem?
Any advice on buying certified?
One I looked at is a Kia Sorento. 2011, 50,000 miles, fully certified $19,000.
They won't give me a finance quote on phone, saying they need to drive and value my trade in....hmmm
I wouldnt want to pay more than $300/mth. Any other cars worth considering?I have 3 children (only 1 in car seat), want good size boot, roomy interior, slightly higher driving positions, safety. Doesn't have to have 3rd row, good gas mileage!
If I then sold it in a year or two what would it be worth if I'd put say 10k miles on it? Does it lose the warranties, does it depreciate quickly?
There is a chance I will get a company car in a year, not definite.
Trying to work out the cost of it compared to cost of Odyssey.
Odyssey paid $6000 in Nov '12. Need probably $3000 for gasket. - $9000 if sell it in a year for $4000 it's cost me $5000 over 2 years before insurance and tax.
Trying to work out same for a Kia or whatever.
Is leasing really a bad idea? I drive around town, ferrying kids. Long distances we use my husbands Excursion (diesel).
Is insurance much higher on a newer car or lease? Mine is high now as only moved here from uk 20 mths ago.
Thanks!
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Old 10-12-2013, 10:24 AM
 
15,955 posts, read 19,228,589 times
Reputation: 20772
Without getting into specific vehicle recommendations, I just hope the OP knows that the term, "Certified", used car can be essentially meaningless, and thus, is deceivingly reassuring to many folks. If you go to an exclusively automotive site--such as Car Talk--you will see many posts from people who bought, "Certified", used cars only to wind up with serious mechanical/structural/electronic issues only a few months later.

I don't know if the, "certification", process is more rigorous at dealerships in The UK than it is in The US, but, if I was buying a used car (which I don't), I would not buy it unless I could get hard copies of its maintenance records, AND have my own mechanic inspect it. An honest dealership should be willing to print out copies of maintenance records (if it was maintained at a dealership), and they should not have any problem with you taking the car to your own mechanic for a pre-purchase inspection. If they balk at these requests, move on to a different dealership.


Last edited by Retriever; 10-12-2013 at 11:38 AM..
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Old 10-12-2013, 10:25 AM
 
Location: New Jersey
9,517 posts, read 13,455,313 times
Reputation: 9766
Quote:
Originally Posted by jukes View Post
Posted another message about my 2003 Honda Odyssey(130k) needing a head gasket and now it's got me looking at Certified vehicles with finance. I don't want to buy another older car. I either want to fix this and hope the transmission then doesn't go, or buy under warranty.
Can't work out if it's a crazy idea or not. If we don't fix the Odyssey then it's trade in value will be terrible, what would I get given they'd know it's got this problem?
Any advice on buying certified?
One I looked at is a Kia Sorento. 2011, 50,000 miles, fully certified $19,000.
They won't give me a finance quote on phone, saying they need to drive and value my trade in....hmmm
I wouldnt want to pay more than $300/mth. Any other cars worth considering?I have 3 children (only 1 in car seat), want good size boot, roomy interior, slightly higher driving positions, safety. Doesn't have to have 3rd row, good gas mileage!
If I then sold it in a year or two what would it be worth if I'd put say 10k miles on it? Does it lose the warranties, does it depreciate quickly?
There is a chance I will get a company car in a year, not definite.
Trying to work out the cost of it compared to cost of Odyssey.
Odyssey paid $6000 in Nov '12. Need probably $3000 for gasket. - $9000 if sell it in a year for $4000 it's cost me $5000 over 2 years before insurance and tax.
Trying to work out same for a Kia or whatever.
Is leasing really a bad idea? I drive around town, ferrying kids. Long distances we use my husbands Excursion (diesel).
Is insurance much higher on a newer car or lease? Mine is high now as only moved here from uk 20 mths ago.
Thanks!
IMO, 50,000 miles on a 2011 is high. Plus the dealer is already playing games with your trade in.

Walk away and find another car and dealer.
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Old 10-12-2013, 10:47 AM
 
Location: SF Bay Area
13,527 posts, read 18,661,257 times
Reputation: 20145
OP, you are all over the place ... get the facts in order first.
Have you gotten a second opinion/quote on the headgasket yet? $3000 is more like an engine replacement.
Any other option is going to cost you bookoo $ comparatively.

Last edited by jaypee; 10-12-2013 at 11:26 AM..
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Old 10-12-2013, 11:24 AM
 
Location: Victoria TX
42,661 posts, read 77,707,464 times
Reputation: 36291
I would not expect any car with 50K miles on it to require any non-visible repairs at all, and any that would arise would be covered by warranty. Unless the car had been seriously abused. But I would expect a great majority of 50K cars to be either private trade-ins, or fleet returns, the latter of which usually get regular scheduled maintenance, even though the propensity of the drivers is unknown. A few rental cars get abused, but they would be the exception, and signs of abuse should be visible.

Yes, there are horror stories, but there are horror stories about kids on school buses, too and what can you do but take your chances with a judicious sense of risk assessment.

As for "certified", it could just mean they emptied the ashtrays. It's just a used car, subject to the moral values of the seller. If they say "certified" ask them if that means unconditionally guaranteed against any and all defect for X-thousand miles and see what they say. An honest dealer will say Yes and give it to you in writing, because he has personal knowledge of the condition of the vehicle.

And, yes, there are honest dealers. I once fell in love with a nice Olda Cutlass wagon. I went back to the dealer with the money the next day and he shook his head. He explained that when they moved the car, they saw an oil leak on the ground, and he said he cannot sell the car without disclosing the fact to me that it would require seals replaced.

Last edited by jtur88; 10-12-2013 at 11:32 AM..
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Old 10-12-2013, 11:26 AM
 
Location: The Triad (NC)
31,168 posts, read 68,022,007 times
Reputation: 37003
Quote:
Originally Posted by jukes View Post
Posted another message about my 2003 Honda Odyssey(130k) needing a head gasket
and now it's got me looking at Certified vehicles with finance.
Finance is a different issue...
but because NC has a farce for a safety inspection it's worse than having none.
The buyer really must take responsibility to have the used car inspected thoroughly;
especially for cars older than X years, with more than Y miles or more than Z owners.

Never buy a used car from anyone whose name isn't on the title..
*AND* who hasn't owned the car for at least two years.

Quote:
Any advice on buying certified?
Look for two year old off lease cars.
Can't say I's put a KIA anything on the list though.
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Old 10-12-2013, 11:43 AM
 
1,789 posts, read 1,585,876 times
Reputation: 3682
If your going for a used vehicle then decide on 2 or 3 models you like. Use autotrader to get an approx price for each that you should be getting. For that KIA in see in my area MANY models 2011 - 2013 from 15k to 20k with less than 20k miles. The dealer is trying to rob you. That and he won't discuss the rest without the trade just means he is playing games. Avoid that dealer like the plague.

Generally look for 1-3 yr old models with low miles (less than 10k a year). Look around and find a few that are modestly priced and go check them out. If you feel unsure about your ability to assess a used car, find a mechanic near the dealer or private seller that will check it out for a small fee. Call and check with a warranty dealer (not car dealer) about an after market warranty. They are easy to get for newer low mileage cars and cheaper than what the dealer will offer. If you go certified pre owned then make sure you check the fine print on the warranty, and check what your deductible will be. You can compare that to an aftermarket warranty seller.

Also if you have access to a credit union you can check if they sell any aftermarket warranties. You can also see if they have any used cars available. A lot of times the bigger credit unions will have deals to move used rentals at a really good price. At least both of mine do.
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Old 10-12-2013, 01:34 PM
 
13,343 posts, read 18,325,421 times
Reputation: 15371
Just crossed my mind. Why don't you buy a bumper to bumper for your Odissey, get it fixed under that warranty, keep it for few months, and then dump it?
Otherwise, I do agree with the other poster - OP, you are all over the place. And so far none of your decisions or actions are really wise.
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Old 10-12-2013, 02:11 PM
 
Location: SF Bay Area
13,527 posts, read 18,661,257 times
Reputation: 20145
Quote:
Originally Posted by ukrkoz View Post
Just crossed my mind. Why don't you buy a bumper to bumper for your Odissey, get it fixed under that warranty, keep it for few months, and then dump it?
Otherwise, I do agree with the other poster - OP, you are all over the place. And so far none of your decisions or actions are really wise.
Well, I could be wrong but I don't think anyone's going to issue a policy on a 10-yo,130kmi car. If they did, the premium's likely going to match the repair bill anyways.
I'm not confident the OP knows what's wrong with the Ody and how much to repair it yet.
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Old 10-12-2013, 04:16 PM
 
Location: Raleigh
10,108 posts, read 7,571,107 times
Reputation: 14301
Quote:
Originally Posted by jukes View Post
Posted another message about my 2003 Honda Odyssey(130k) needing a head gasket and now it's got me looking at Certified vehicles with finance. I don't want to buy another older car. I either want to fix this and hope the transmission then doesn't go, or buy under warranty.
Can't work out if it's a crazy idea or not. If we don't fix the Odyssey then it's trade in value will be terrible, what would I get given they'd know it's got this problem?
Any advice on buying certified?
One I looked at is a Kia Sorento. 2011, 50,000 miles, fully certified $19,000.
They won't give me a finance quote on phone, saying they need to drive and value my trade in....hmmm
I wouldnt want to pay more than $300/mth. Any other cars worth considering?I have 3 children (only 1 in car seat), want good size boot, roomy interior, slightly higher driving positions, safety. Doesn't have to have 3rd row, good gas mileage!
If I then sold it in a year or two what would it be worth if I'd put say 10k miles on it? Does it lose the warranties, does it depreciate quickly?
There is a chance I will get a company car in a year, not definite.
Trying to work out the cost of it compared to cost of Odyssey.
Odyssey paid $6000 in Nov '12. Need probably $3000 for gasket. - $9000 if sell it in a year for $4000 it's cost me $5000 over 2 years before insurance and tax.
Trying to work out same for a Kia or whatever.
Is leasing really a bad idea? I drive around town, ferrying kids. Long distances we use my husbands Excursion (diesel).
Is insurance much higher on a newer car or lease? Mine is high now as only moved here from uk 20 mths ago.
Thanks!
It all depends. Different manufacturers have different CPO programs. It USUALLY entails a subvented interest rate (if you qualify) and some kind of warranty. They wouldn't quote an interest rate over the phone because especially with used cars, every deal is separate and the car you buy is a credit risk separate from you.

You usually pay a little bit more for certified vehicles. If the dealer participates in the CPO program, they will generally certify all cars that they can. Some dealers chose not to participate in the program for one reason or another. You will experience depreciation similar to a new vehicle purchase. There is dealer markup, and the premium for a certified vehicle, which is hard to recoup later on. You need to investigate the respective manufacturers programs.

There is no reason that a head gasket should cost $3000; its a labor intensive and expensive job, but no that bad. Get a second opinion.

You will get hundreds of opinions on leasing. For people that really prefer to be driving a new car, it is cheaper provided you stay within the mileage allotment. A lease is just a different way of financing a vehicle. It is cheaper out to about 3 years, at 3-5 years its about the same as buying and beyond that its more expensive than buying. Your insurance will be more expensive the newer the car.

For a $19k car, you need at least $4k in equity to look at a payment in your range on a five year term.
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