Tips and tricks of buying a new car. [Update]

[LostViking]

If you are living with your parents and going to school, you are not in a stable enough situation to make an 8 year commitment. If you are going to do a long term lease/finance then make absolutely sure you have a way out.

First off the car will lose its appeal. Think about how something like a Toyota Corolla makes you feel right now, even take one out and test drive it, how does it feel? That is the exact feeling you will have for this Fiat once you've driven it for 3-4 years, make sure you can live with that feeling for the rest of the lease/finance before you buy the car.

Second, needing an 8 year payment period raises a lot of red flags for me, sounds like you cannot afford this car. If you are just looking to have a more ballin' car and that is the reason for tacking on years of payments, then don't do it, it will bite you before the end. Lots of things can happen in that time, you can move out, start paying student loans, decide you took the wrong educational route and go back for a second degree, knock a girl up, etc.

There are sometimes good reasons to do long term lease or financing, such as the above mentioned business tax deductions. If you are going to go that route, get 0% financing. They will often just work the financing costs into the cost of the vehicle, so you can make note of what kind of a deal they will give you right now (try to get it in writing), then when they announce their awesome 0% financing sale (every dealership does it) you can go back and say I want the same deal as before, but with 0% financing. Here is the litmus test: if you can't wait a couple months to get the 0%, which will save you a ton of cash, then you are making a snap decision. Snap decisions can be fine and dandy, but not on an 8 year commitment, that is just a financial disaster waiting to happen.

[Gross-Misconduct]

I remember my parents gave me a valuable tip when I went looking to buy my first car.

[taxi]

Just a heads up. Mazda is giving huge discounts on the Mazda 3 2012s right now. 4.5 - 6k off.

[taxi]

WIth new car purchases there isnt much room for wiggle, not like a used car anyways. Most of the time the only "wiggling" will be extra's and add ons that they can throw in or discount. The MSRP of the car however, has almost 0 wiggle room on new vehicles.

[Dion Phaneuf]

This is not true. The more expensive the car, generally the more wiggle room there is.

[sarcastro]

Just a heads up. Mazda is giving huge discounts on the Mazda 3 2012s right now. 4.5 - 6k off.

[Drgnslyer]

There is also the MVSA (Motor Vehicle Sales Authority), find their website, they have other resources for you.

I sell RV's, am a part of the MVSA and all vehicle salespeople are licensed. There is quite a bit of protection for buyers, and it's worth it to know the difference between a good deal, and a dishonest or deceptive act.

Some dealers list their vehicles at a higher ticket than the next, shop around for other similar vehicles. Autotrader.ca will often help, you can search for specific vehicles on a national scale to get an idea on prices out there.

[n00bxQb]

I usually buy cars that are 2-3 years old. Generally, they're about half the price as the new model with the same features. If you really care about warranty, the extended warranty is still cheap.

For example, my GF and I got a 2009 Nissan Versa 1.8S with ~38000 km on it for ~$10800 out the door (after taxes) in 2010. The 2011 model was ~$20900 after taxes with 0% financing and there wasn't much difference in terms of the actual car. The original owner got the 09 with an extended warranty, so it actually had about 6 months more warranty than a new one.

Canadian Black Book Value as of today: $9928

With a few exceptions, new cars often lose a substantial amount of their value in the first few years. Makes more sense to buy a car that's already suffered most of its depreciation.

[Offensive Threat]

Fiat 500 - Kinda cute, little more than the usual econobox, girls car

Fiat 500 Abarth - Can I borrow it?

Seriously nice choice in car. Only problem I can see is the long paydown time. But you can always sell it if your financing, you just may have more remaining to pay than you can sell it for so youd have to cover the difference. Its not like your locked in as with a lease.

Theyve been selling them here since 2007, have you looked at the pricing on used ones? May or may not work for you. Especially if your financing.

Do the math on all the different financing angles.Most brands offer different interest rates depending on how many years. Play tough with the dealers. If you dont walk out without getting the deal you want at least once you arent pushing enough. I walked out, they called me every day trying to get me to come back and when I finally did I got what I wanted.

[HTania]

If you want to buy a Ford, go get a Costco membership so you can get the $1000 Costco member discount.

[taxi]

Where did you see this?

[Aladeen]

I remember my parents gave me a valuable tip when I went looking to buy my first car.

[schlaBAM]

What is the track record on that model of car? Will it even last that long. No one knows as they haven't been around that long. Secondly, My personal belief is that those cars are kind of a gimmic. Lots of people when't out and bought a PT Crusser for too much, only to find out it was a Dodge neon with a different body style on it.

If your gonna pay too much for car, get a Toyota!

[taxi]

The Fiat 500 has been out for over 50 years.

[PENGUINScanFLY]

For a fast, fun, car for 25 bones, you can do a lot better than the fiat.. The thing only runs 18lbs of boost stock, you know..

If you really insist on buying a new car (horrid idea), though, here is a list of infinitely better vehicles:

-Subaru BRZ (27K) - naturally aspirated, no lag, more power

-Mitsu Lancer GT (25K) - Less fast, but somehow better looking than me

-VW GLI (27K) - Fast.. 2l turbo, and you might actually be able to re-sell it one day

-Mazdaspeed3 (30K) - Yeah it's too much money but it's ridiculously fast..

-Mazda 3 GT (27K) - 2.5l, 6 speed, awesome

-Ford Focus or Fiesta ST - New Fords are great, apparently built quite well.. Avoid any other American vehicles though..

If I were you, I would buy one of these.. But I wouldn't, because I would spend 15 grand on a a used car that is far better than any of these! (2001 m3, 2005 GLI, 2003 TSX, 1993 Supra or rx7, r34 skyline, 2001 s4)

Do you know that on average, a new car loses 20% of its value the second it drives off the lot? Do you want to take that loss, or should someone else..

But anyways, if you like the Fiat you like the Fiat, just make sure you test drive a few other cars so that you can see how it stacks up. Also it's a bit cute. And no road-trips!

[Hyzer]

I got an '09 Dodge Caliber for 9.5 grand. I would suggest finding a deal like that.

[Tortorella's Rant]

If they don't let you inspect it then they're jerking you around. There's obviously something wrong with the car.

I almost had this sexy Prelude. We told the owner that before we buy it we like to have it inspected. The out of his ass he told us that someone else is coming to look at the car later and he will not have it inspected. Very defensive about having it looked at by a mechanic. Later we called him about the car and he told it he had sold it. To no surprise he had posted a new ad for his car on Craigslist. We contacted him with a phony email and surely enough it was the same guy.

[WillyFox]

If they don't let you inspect it then they're jerking you around. There's obviously something wrong with the car.

I almost had this sexy Prelude. We told the owner that before we buy it we like to have it inspected. The out of his ass he told us that someone else is coming to look at the car later and he will not have it inspected. Very defensive about having it looked at by a mechanic. Later we called him about the car and he told it he had sold it. To no surprise he had posted a new ad for his car on Craigslist. We contacted him with a phony email and surely enough it was the same guy.

[Offensive Threat]

[/

The old 2012 Mazda 3s are being clered out everywhere. They aren't making Mazda 3s anymore so they are trying to get rid of old stock.

[Horny Manatee]

Technically 4 seater if the people sitting in the back have no legs.

My current car is not much better.