Help Needed! I need a new car!

WOW... There's a car section on WBW! I thought it was just a myth!

Anyway... My question is serious. I currently have an 89 Mercury Sable. It was my grandmother's and I inherited it when she died about 4 years ago. Because she didn't drive much before she died, it only has 79000 miles on it, most of which has been put on the past 4 years. Therefore, the engine is still in pretty good shape, but the electrical system is shot! Also, the A/C is dead and 2 of the 4 speakers are fucked! So, long story, short, I am looking to get a new car (well, new to me, anyway) soon. Here's my problem... I am poor! Therefore, I can only afford a car payment around $150US/month.

Here are my conditions:
1. Reliable
2. Good gas mileage
3. inexpensive (again, $150/month)
4. safe
5. A/C
6. A working stereo

OK. I admit, I don't know much about cars, so I figured I would turn to the car gurus of WBW for help. I have never shopped for a car, so the whole rebate thing and fees and things to avoid are still sort of a mystery. I recently drove a rental car while my car was in the shop. It was a 2004 Hyundai Sonata. I like it, but I have been told that Hyundai makes craptastic cars in general... I dunno... I am mostly familiar with American cars.

Any suggestions are welcome!

Hmm...I'd say just look around and see what you can get for that kind of money.

With those conditions, maybe a Toyota? Camrys are nice. They are extremely reliable from what I hear.

yeah... I also rented a Camry once, too. I think it was a 2002... I actually liked it better than the Sonata.

go to a reposessed/impounded car auction

Hmmmm.... Excellent idea! I hadn't thought of that... Though I guess I need to make sure there are no bullet holes


EDIT: Are those auctions usually run by impound lots or law enforcement agencies?

u cant go wrong with a honda civic or volkswagen golf. even with a high mileage they jus keep goin smooth

my geo tracker is pretty good, good gas mileage, reliable, fast when it need to be,, had a/c and a stereo too,

got it for 11,000 ,

hows your credit rating?

here are some payment schedules... depending on your credit you could run anywhere from 4 to 14% on a new car. used would start higher like 6 or so I would guess. Probably best to try through a credit union if you are eligible to join any and I'm not sure that they'll even do more than 4 years on a used car.

Could you be more specific that "the electrical system is shot"? an '89 shouldn't be too electrially dependant yet. What about the AC is busted? The blower motor? The compressor? Do both work and it needs a coolant charge? hoses replaced? Also,
speakers are cheap. The first question I would ask in your situation is: what can I fix on my car for if I start saving $150/month instead of putting it into a new car. Think about doing the work yourself too - nothing you've described sounds unreasonable in a weekend - even replacing a compressor - if it is easy enough to get to.

I looked up the KBB trade in on your car and using the "fair" condition (b/c of AC) the trade in is only $370. If you can sell it to someone directly, that would only bring around $700.

Looking at these may not make you feel too good but here they are:

$8,000 @ 7% for 5 years = 158/month
$10,000 @ 7% for 5 years = 198/month
$10,000 @ 7% for 4 years = 240/month
$13,000 @ 5% for 4 years = 300/month
$15,000 @ 10% for 4 years = 380/month

my vote for a new car is: save your money and fix what you've got until you can afford more. if you dont ever plan on being able to afford more then... then I dont guess I have much to offer.

A 5 year credit on a car????

Man that's not really the smartest thing to do ....i wouldn't do it ifi was you...!

Quote:

Originally posted by dufreche

hows your credit rating?

I actually have an excellent credit rating... I have done a lot of calculations and come up with roughly the same results you did. But I am not sure if you can finance a used car of 5 years... I think you can only do it for 3 years...

We leased my wifes VW New Beetle, fully loaded for four years and the payments were 211.65 a month. I would asume you could get the base 2.0 beetle/jetta/golf for near your 150 range, the only problem is that at the end of the 4 years, you have nothing to show for it.

A comparison for you, my GTI (roughly the same sticker price) was bought in a standard 60 month purchase for about 370 a month.