Quote:
Originally Posted by Sorrybrah
I have a problem with this logic... Let's say I save for the car I want/need (Will probably take years for poverty status dreamers), what if I need a car now? Buy a crappy honda civic you must say? Well, I am pretty sure you will have to pay for maintenance, repair, and etc for that car costing you an additional couple of grand right off the bat. Rarely a private seller would take care of those prior to selling their pos car.
Why not just use it as down payment, get a decent car and have a peace of mind?
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A dilemma as old as time. Buying from a private seller is always a wager, just need to do your due diligence before purchase - carfax, per-purchase check ups (Pepboys, Goodyear, your own mechanic etc).
7 times out of 10, a "pos" civic will still be a better wager then a loan (and full coverage) you can barely afford in the first instance, at lest to my mind. Of course, its ultimately your decision either way.
But credits unions will always be the better option to banks. Bought a new civic at 2.4APR, for 30 months from dealer financed though PNC. No issues, but then I put down more than half the out of door price. Only owe less then 3k now, but staggering out for 16 months more to build credit.
If I could do it again, Id get a 13,000 cash car (15' corolla or mazda3) or cash car in general instead of a new one. Its just a depreciating commodity. Besides, the new 2017 mazda3 is better than the 17 civic, so buyer remorse.