So I've got my eye on a 2004 honda accord. It's at a local fleet sale(they come through every once in a while), it is a trade in that they got this weekend. I'm not sure if I want to FO or not, it all depends on the price I can get it for it and how much insurance is going to cost me. I'm thinking it's not going to cost too much as they haven't had the opportunity to detail it and it's got a couple dings.(disclaimer, I DGAF about cosmetics as long as it runs)

If I do FO should I get their cash price and secure my own loan? Or work with their bank?
Any tips on bargaining to get the price down?
Credit union vs bank?
FO or not to FO?

AAR:Wow. So I went in yesterday and asked them what they're no bullshit cash price was for the car.

They told me

dealer:"well it's got like $1500 worth of body damage, but normally this would be a $16,000 car."
me: "you know I can go and get a NEW Honda fit or a Honda civic for $15K right?"
Him: Yeah but that's a honda fit, two totally different cars.
Me: OK But I can go up the street to discovery honda and get a brand new base model accord for $20K right?
him: "yeah but that's a base model, this isn't a base model"
me:It's an LX....
Him: Well you can go ahead and go up to discovery I'm not even sure where that is. But I doubt they'll be able to offer you a better price. You either you want it or you don't.

I walked away and drove down to discovery to look at car prices. I ended up driving off in a '98 chevy lumina LTZ. 1 owner, who was an elderly gentlemen who religiously serviced it. 85,000 miles immaculate inside and out unlike the accord. Sticker price was $6300, I ended up paying $4800 before taxes and license $5400 after.

I went back and apologized to Paul that his coworker was a douche waffle and lost him a sale. I was I driving off he looked PISSED and I'm pretty sure he went off to go give the other guy a piece of his mind.

For commuting purposes, I always buy used, and pay cash up to about $7-8k.  I will not finance a used car.  On the other hand, I refuse to let my wife and kids drive someone else's hand me downs...In my mind, I am taking one scenario away form the equation that equals them sitting on the side of the road, broken down.



If you must finance a vehicle, always go for the one with the best terms, regardless of who is offering it, although I give a nod to Credit Unions.

i would fo in my opinion. and crdit unions is what i deal withbut thats me.

That's the idea. I would rather not finance, but after being out of work I've used most of my  savings(I do have a job now)

The car that I'm driving now is a crapper. It get's good gas mileage but I really don't trust it. I'd be selling it and putting it twards the "new"car

Is this a dealership with the fleet cars or like a "local auction" type setting? Could you trade yours in at the dealership if it is in fact one.

It's a "dealership", they're based out of Yakima and they come down here every few months. They usually sell 08/09's usually Subaru/Toyota cars predominantly.

Yes I could probably trade in my car but it isn't worth shit for trade value. I'd rather sell it myself, get double the money for it, and put it towards my loan.

Credit union if you're going to finance-mine, PFCU, is offering 2.99  for used cars up to 60 months, and they have a loophole to get around the .mil affiliation for a one time fee of $20.

Everyone's situation and thought process is different, which is why I stated the way I see things.  I would rather pay a couple of thousand in interest on a vehicle I trust my family to drive, rather than drain my savings account to purchase a consumable and brag on Arfcom that I really could afford something using someone else's guidelines.  On the other hand, I always try to make sure that I put enough away in a separate account to pay cash for my commuters that gain mileage very quickly.



 

this is not a popular answer but I have bought new the last 3 cars. with current 0% interest financing offers up to 72 mo., 100K warranty, roadside assistance, etc.etc.,  new is the way to go for us.

it's not hard to find a deal close to the dealers "invoice" price and if they're hungry enough, incentives can often get you new for below sticker at 0% interest.

and I don't trade, I sell our used car myself...

Check and see if it has had the timing belt changed as per maintenance schedule, If it is due for one that's a $500-$700 job and water pump should be replaced at the same time.

Yes.  These are the two biggies when buying a higher mileage used vehicle.  Tires are another.



 

I didn't get to see the odometer but they said it was a <100K miles. I'll double check today when I go with my girlfriend to look at it.

in true arfcom fashion do both.

See what their deal is if you finance through them.
Some places offer a better deal if they know they can get you on the back end through financing.
Nissan used to give you 1k back financing through nmac.

Then check with a local bank or credit union, USAA or whatever and see what rates you can get out of them.

If they cut you a sweet deal for the car, but not so hot financing, take it anyway, then pay it off with a loan from the credit union.

Play the game.

AAR:Wow. So I went in yesterday and asked them what they're no bullshit cash price was for the car.

They told me

dealer:"well it's got like $1500 worth of body damage, but normally this would be a $16,000 car."
me: "you know I can go and get a NEW Honda fit or a Honda civic for $15K right?"
Him: Yeah but that's a honda fit, two totally different cars.
Me: OK But I can go up the street to discovery honda and get a brand new base model accord for $20K right?
him: "yeah but that's a base model, this isn't a base model"
me:It's an LX....
Him: Well you can go ahead and go up to discovery I'm not even sure where that is. But I doubt they'll be able to offer you a better price. You either you want it or you don't.

I walked away and drove down to discovery to look at car prices. I ended up driving off in a '98 chevy lumina LTZ. 1 owner, who was an elderly gentlemen who religiously serviced it. 85,000 miles immaculate inside and out unlike the accord. Sticker price was $6300 I ended up paying $4800 before taxes and license $5400 after.

I went back and apologized to Paul that his coworker was a douche waffle and lost him a sale. I was I driving off he looked PISSED and I'm pretty sure he went off to go give the other guy a piece of his mind.

wow, $15 grand for a 6 year old car, what a dumbass.

The price you paid for the Lumina is crazy for a 13 year old vehicle.

agreed



but it is fucking insane for used cars out there



10 year old camrys bring 10K



10 year old malibus bring 6-7K



10 year old chevy 4x4 bring 12K


5 year old Toyota 4x4 is 20k



you can get brand new shit for maybe 10% more than a 3-4 year old car

or 2x a 10 year old one




 

That's because the used market is really hot right now.



I used to live by the old adage, "Buying used saves you the thousands you leave at the dealership when you buy new".



That doesn't necessarily hold true anymore, and buying new makes more sense than ever, considering that used cars are very prized now.





 

Well, now you can drive your 17yo GF around when you're supposed to be sleeping.

You got a better deal.  I'm not sure it's a great deal, but it's much better than a used 2004 Honda accord (with body damage) for $14,000

That is a funny old line.  Maybe it is accurate especially if you know the previous owner.

well surprise a car dealer lied to me

I was flipping through the owners manual. In the back of the service records is said the car was purchased in 2003, with 36K miles on it. So it's at least a 2 owner car. The first owners didn't keep any service records, but the second owner noted every little bit, down to the type of oil and filter. One thing that worries me a little bit is that they replaced the alternator last month...