What Would You Say Is The Best Way To Buy A Car?

Discussion in Auto & Moto started by suegiplaye • Jul 13, 2015.

  1. suegiplaye

    suegiplayeMember

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    I would love to buy a car. I am a college student. I was wondering what is the best way to buy a car? Should I buy a used car or should I lease a new car? I can not afford a new car and I was wondering what my best option is. If I buy a used car I feel like I will have to always pay money to get it repaired. If I lease a car I will have monthly payments. Not sure which option is best.
     
  2. MrsJones

    MrsJonesActive Member

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    Both are good options but if you don't want to be concerned about repairs on a used vehicle then lease or buy new. Any case though you will still have monthly payments unless it's a buy here pay here dealer.

    I've always preferred a previously own vehicle. There are some that are certified pre-owned vehicles which are inspected by the original manufacturer to ensure that it is worthy of certification. Granted the price will be more than a non-certified vehicle but it has already been inspected and will be pretty close to buying a new vehicle or even leasing.

    It boils down to how much you are wanting to invest. Things also to think about are warranties, insurance, routine maintenance and of course gas.

    Hope this helps.
     
  3. gata montes

    gata montesActive Member

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    I too would say the same - however, although both are good options - as both will require a monthly payment unless you can pay outright its worth considering the following

    leasing is generally a popular choice - as cars very rarely go up in value and new cars depreciate in value very quickly these days - for those who buy a new car every year, every couple of years or who have more than one vehicle

    as is buying a second vehicle or one that is nearly new or at least 2 years old from a reputable dealer - with the advantages being - apart from getting an almost new vehicle for a better price than a new one - as it will have already depreciated in value and more importantly gone through its annoying teething stages - they also normally come with a 2 year warranty and a choice of renewal if required.

    In fact if looking for a good deal on a nearly new vehicle - one of the best times to buy is around the time when new registrations come out - as there are usually some seriously good bargains to be had around this time - as dealers are keen to get rid of the trade-ins as quickly as possible.

    I would however just add - that if you don't know much about cars - it is always best to buy from a reputable dealer - as anyone who buys a vehicle and especially a second hand one from an independent source - without first paying to have it fully inspected - is to put it bluntly - asking to be ripped off.
     
  4. GemmaRowlands

    GemmaRowlandsActive Member

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    If I had the money for it, I would always try to lease a new car, for the sole reason that I would want to know that I had the flexibility of being able to get any issues sorted with it if they should become problematic whilst I am using the car in question. However, many people don't feel as though they want to be signing up to something like that, as it can be quite a drain on finances, in which case a used car would be more economical. You should always make sure that you check the history of the car, and ensure that it has never had any issues in the past. This way, you should find that it works well for you without costing you a lot of money in repairs further down the line.
     
  5. Ke Gordon

    Ke GordonWell-Known Member

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    It depends on how much you can afford. They all have their advantages and disadvantages. IF you do buy a used car though you should get one that is certified and pre owned, or at least get a car fax report showing the record and maintenace of the vehicle. All of these things are important It is one of the options that individuals need to have to buy a quality used car. An extended party warranty would be good too.
     
  6. Cash In Hand

    Cash In HandMember

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    The best way to buy a car is with cash. Being that you're a college student, you probably already have debt up to your eyeballs. You don't really want want more do you? Just save up a little, buy an old beater that will get you from point A to point B without too much embarrassment, and you should do just fine.
     
  7. ohiotom76

    ohiotom76Well-Known Member

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    True, the last thing you need is mounting debt, when you're already paying for college and will likely soon be paying for an apartment or house in the coming years. If you can save up and pay cash for a car, you can put aside the rest of that money on a monthly basis towards building up a savings account for emergencies.

    You'll need repairs on a car whether it's new or used. Brand new cars have unexpected issues as well. If you do take out a loan for your car, try to make sure you can still have enough money to put aside for any unexpected repairs you may need.

    I wouldn't suggest leasing, you spend several thousand dollars paying on it then have nothing to show for when it comes time to turn it in. Plus when you need to get a newer car, you have nothing for trade in value, so you'll have to cough up a few thousand for a down payment. Not to mention, you have to worry about staying within your miles limit, otherwise you have to pay even more when you turn it in.
     
  8. YDdraig

    YDdraigNew Member

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    When I was a student, I couldn't afford to either buy a good car, or to lease one. I bought myself a 'banger', a cheap little run-around that cost me next to nothing. The plan was that I would run it until it died, repair what I could myself and in buying so cheap I would keep my insurance costs down.

    The car lasted me for two years. I learned a great deal about running and repairing a car, and by the time it died I was a more experienced driver and so my insurance rates had dropped significantly. At that point I could afford to buy something better.
     
  9. BrandonScooterman

    BrandonScootermanActive Member

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    I agree with the 3 people above me. Don't get yourself into too much debt for a car.
    To be honest, if you are in College you may not need a car. Try really hard to get around without one.
    It isn't just the sticker price you have to consider. Consider the cost of ownership, fuel, insurance things like that.
    Leasing means you will have to pay more for insurance. What about parking, that can add an extra $1000 a year. Then there is the interest on it if you don't buy it cash.
    Finally the biggest cost of buying a car is the opportunity cost. Spending thousands on a car is money you could have spent paying down student debt, which will save you thousands in interest and years your life in stress.