help me make a decision
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From: Pottsville
she decided on the acura rsx....i like it alot. tiptronic automatic, sunroof, power everything, all for around 19,600...personally, i think that is a great price, am i right?
thanks
matt
thanks
matt
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Au contrere to all of the above!
The BEST way to finance a car is with a Balloon Loan. People rarely keep cars over 2-3 years so why try to pay off so much of the loan? Set your payment so that you owe a final "balloon" payment in three years equal to the anticipated trade in value of the car, say 60% of list. That way you have the minimum monthly payment and aren't upside down when you're ready for your next car! You can also get a more expensive car!
The BEST way to finance a car is with a Balloon Loan. People rarely keep cars over 2-3 years so why try to pay off so much of the loan? Set your payment so that you owe a final "balloon" payment in three years equal to the anticipated trade in value of the car, say 60% of list. That way you have the minimum monthly payment and aren't upside down when you're ready for your next car! You can also get a more expensive car!
Joined: Dec 2001
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From: Kuna Idaho
Being the Honda Guy that I am as you can see by the auto's listed below, I would have to say RS-X or the Civic. What I haven't noticed mentioned here, and yes it hurts me to say this, is the new Ford Focus XLRMPSVOGX or whatever they call the new little hot one. I'm not sure about reliablity (it is a Ford you know), but all the magazines sure seem to like them. Just a thought.
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From: Dana Point, CA
I know that I'm the old, crusty, fiscally conservative, finance guy but...
Here's what I see:
1) Your friend doesn't have a ton of money. At least she's not liquid.
2) This is her first new car.
3) She drives a lot
4) Dependability and functionality seem more important to her than anything else
5) She's going to keep this car a while.
Based on these items, I strongly suggest she do the following:
1) Pay less than she can absolutely afford. Stretching your finances for a house is one thing, stretching them for a car is another.
2) Buy the Civic EX with an extended warranty.
That's it. The Civic is, IMO, the best made of the cars that really fit in her budget. Moreover, it will last forever if it's treated properly. Civic's don't depreciate the way VW's do. They're easy on the gas, easy on the insurance, and easy on the eyes.
My first new car was a 1996 Civic EX 4 door. Not super exciting for a guy with his first real job out of college living on the beach in Newport but I'll tell you what. Buying that car was one of the better decisions that I have made. In fact, I regret selling it 5 years and 60,000 absolutely trouble free miles. It was paid off and I could have driven it another 100,000 miles without any concerns, I'm sure. At the time, I couldn't justify having another car just sitting in my driveway and I figured that my equity was better in my money market than in a car (probably true). I would kill now to still have the car for airport runs, grocery store runs and other trips where I know I'm likely to catch a door ding or two and leaving the Lexus or the S2K in the parking lot gives me heartache.
Here's what I see:
1) Your friend doesn't have a ton of money. At least she's not liquid.
2) This is her first new car.
3) She drives a lot
4) Dependability and functionality seem more important to her than anything else
5) She's going to keep this car a while.
Based on these items, I strongly suggest she do the following:
1) Pay less than she can absolutely afford. Stretching your finances for a house is one thing, stretching them for a car is another.
2) Buy the Civic EX with an extended warranty.
That's it. The Civic is, IMO, the best made of the cars that really fit in her budget. Moreover, it will last forever if it's treated properly. Civic's don't depreciate the way VW's do. They're easy on the gas, easy on the insurance, and easy on the eyes.
My first new car was a 1996 Civic EX 4 door. Not super exciting for a guy with his first real job out of college living on the beach in Newport but I'll tell you what. Buying that car was one of the better decisions that I have made. In fact, I regret selling it 5 years and 60,000 absolutely trouble free miles. It was paid off and I could have driven it another 100,000 miles without any concerns, I'm sure. At the time, I couldn't justify having another car just sitting in my driveway and I figured that my equity was better in my money market than in a car (probably true). I would kill now to still have the car for airport runs, grocery store runs and other trips where I know I'm likely to catch a door ding or two and leaving the Lexus or the S2K in the parking lot gives me heartache.
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