Need a new car for 28K OTD

[nyclio]

Like the subject says, I'd like a car for about $28000 with all taxes, title, fees, everything out the door. I currently have an 05 G35X whose lease will be up in July '08. I love the way the G rides and handles and its overall performance, but it's awful on gas (~$65 once or twice a week). I want my new car to have navigation and I will be putting about $16000 down and financing the rest over 1 or 2 years. Some options I've considered:

New (2007 or maybe 2008) Honda Accord EX-L V6
New Acura TSX w/ Navi

I am kind of drawing a blank after. I thought about the Subaru Legacy and Nissan Altima as well, but I don't know about the long term reliability of those. This car is going to be kept for a long while, so I would like something with proven reliability. I am a little skeptical about the used car market as I have never bought a used car before, and don't know quite what to expect from them, but I am keeping my options open. I don't know what kind of used car I can get for that money.

All opinions, suggestions, recommendations are welcome.

Thanks!

[shystieone]

you wont get a new acura tsx w/ navi for 28,000 otd... more in the lines for 30-31,000.. I know because I've spent 2 months chasing after a deal, best i got was 30,000otd w/ navi, floor mats, cargo net, wheel locks, mud guards, and 1 frickin oil change

[P_Diddy]

You can save a lot of money (on depreciation) by buying a used car. I understand your hesitation on used cars but check out some of the Certified Pre-owned programs that the car co's have. Most will give an extended warranty of some sort.

I don't know where you live and your tax rate so I don't know what $28k total boils down to in actual sale price of the car. Some suggestions for $25k are
Chevy Malibu - despite most people's perceptions, GM's reliability is very high. there is no nav system but you can always buy a portable unit, which is convenient when you are on travel and using a rental car.
Mazda 3 or 6
CPO'd Lexus IS250 (maybe, still might be too expensive)
Mitsu Lancer - looks great, 10yr warranty on powertrain, about the same size as a TSX i think.


One thing to think about, if the dealer offers you a good interest rate but requires you to have a higher loan balance (ie, smaller down payment), you can always accept that and immediately pay off several thousand dollars right after the loan starts. You will not have to pay interest for the balance you've paid off.

[IPSECG35]

Don't buy a car brand new, especially when you have that much cash to gravitate....I would consider looking at a preowned 2006 IS250, one with Nav and about 15-20K can be had for about $26ish. I wanted to get one myself but didn't want to spend that much. I recently got an 05' G35 6MT with only 24K for $19.5.

[Wannabe6MT]

Originally Posted by P_Diddy

You can save a lot of money (on depreciation) by buying a used car. I understand your hesitation on used cars but check out some of the Certified Pre-owned programs that the car co's have. Most will give an extended warranty of some sort.

I don't know where you live and your tax rate so I don't know what $28k total boils down to in actual sale price of the car. Some suggestions for $25k are
Chevy Malibu - despite most people's perceptions, GM's reliability is very high. there is no nav system but you can always buy a portable unit, which is convenient when you are on travel and using a rental car.
Mazda 3 or 6
CPO'd Lexus IS250 (maybe, still might be too expensive)
Mitsu Lancer - looks great, 10yr warranty on powertrain, about the same size as a TSX i think.


One thing to think about, if the dealer offers you a good interest rate but requires you to have a higher loan balance (ie, smaller down payment), you can always accept that and immediately pay off several thousand dollars right after the loan starts. You will not have to pay interest for the balance you've paid off.

+1 the 08 Malibu would be an excellant choice.

And its not so boring it blends in with the crowd. People notice that car.

[Ferrarimanic360]

what about a pre-owned TL?

[nyclio]

Originally Posted by Ferrarimanic360

what about a pre-owned TL?

I think a TL would be in the same gas boat as the G. And call me biased but I'm not too crazy about American cars.

I saw this Acura:
http://www.autotrader.com/fyc/vdp.js...ice=&cardist=8

But I just find it weird to already have an '08 model for sale with 8K miles.

[John105]

Originally Posted by P_Diddy

You can save a lot of money (on depreciation) by buying a used car. (ie, smaller down payment), you can always accept that and immediately pay off several thousand dollars right after the loan starts.

That is very true in theory, but in practice, not really. I have tried the above over the years with Honda and BMW, and it never panned out. For example, a 2k7 335 loses 9k to depreciation as soon as it's driven off the lot. But through CPO, how much does the dealership discount, of that 9k? Not much, 4k at best? So the 5k they make again by flipping the used car.

Specifically on a used Accord, when I was looking, I found a 1 y.o.
Accord to be $1,600 cheaper than brand-new when I looked at MY '06. Just looking at it from an absolute standpoint, the $1600 is worth it to me for new.

Where the game changes is in a private-party sale, because it's not an efficient transaction. Maybe the seller doesn't know/care that much about getting the best deal, so you find a 335 for 9k cheaper after 1 year or 14k cheaper after 2. That's like getting a 2 y.o. 335 for mid 30's--it does happen, but not all the time.

If one plans on keeping the vehicle a long time, depreciation is not an issue imho, as it's on paper. my .02

[RBull]

Originally Posted by WannabeSport

+1 the 08 Malibu would be an excellant choice.

And its not so boring it blends in with the crowd. People notice that car.

One thing you're ignoring is the massive depreciation on almost all N.American new vehicles. You're always better to buy one of those after its a year old.

[Garnet Canuck]

Completely agree. If I ever were to purchase a domestic vehicle, it sure as hell wouldn't be one that is brand new. On the plus side, you can pick up a decent used domestic for a great price.

Originally Posted by RBull

One thing you're ignoring is the massive depreciation on almost all N.American new vehicles. You're always better to buy one of those after its a year old.

[06g35meister]

my car i got w/ 10013 miles and it was 28.8K OTD, but the dealership gave me 2 really cool things i never had gotten before with a car:

The original sticker (yes, THE ORIGINAL STICKER) which was $39.990
The Dealership trade agreement, which said they traded in the car for 28.5, THEY ONLY MARKED UP MY CAR $299. Id like to think i got a good deal , oh and the previous owner was the parts lady from infiniti of gwinett in atlanta, so every oil change and air filter was done in shop at the specified times, and i got the 10000 mile checkup for free before i went to pick it up.

Point? Buy certified used, sometimes they are even better than new because they go through inspections the new ones dont, i know mine was checked over twice because of the long haul home, once 172 things were inspected, once 76. Needless to say, ive felt more comfortable, and the opportunity for saving is immense with nicer cars like ours.

SPARKNOTES: Let someone else take the initial hit off the lot, then buy it certified with low miles.

Happy Hunting!

[nghiars]

Originally Posted by shystieone

you wont get a new acura tsx w/ navi for 28,000 otd... more in the lines for 30-31,000.. I know because I've spent 2 months chasing after a deal, best i got was 30,000otd w/ navi, floor mats, cargo net, wheel locks, mud guards, and 1 frickin oil change

really? I was getting my friends TL's fully loaded out the door just over 31k. My buddy got his TSX fully loaded for 28k... you can negotiate ur price... The TL is not in the same boat as far as gas consupmtion as the G's... Honda has great valve timing and engineering to save gas...

the altima is a reliale car, it uses the same VQ base for the motor

[Purified]

maxima..

[tragedycat]

Originally Posted by IPSECG35

Don't buy a car brand new, especially when you have that much cash to gravitate....I would consider looking at a preowned 2006 IS250, one with Nav and about 15-20K can be had for about $26ish. I wanted to get one myself but didn't want to spend that much. I recently got an 05' G35 6MT with only 24K for $19.5.

That's a nice deal. I'm shopping for an 05 5AT IP G35 next February and all the idiots around DC/Nova think their three year old car with 20k miles on it that they got for ~$32k OTD is still worth $28k. Pretty frustrating.

[RBull]

Originally Posted by Garnet Canuck

Completely agree. If I ever were to purchase a domestic vehicle, it sure as hell wouldn't be one that is brand new. On the plus side, you can pick up a decent used domestic for a great price.

My outlook as well. If I was in the market for something slightly used I would have to look very seriously at a domestic car.