Add to GuideAsk a Question
To Top

Buying a New Car

Category Buying a Car
Buying a New Car
Buying a new car is an important and likely expensive decision. This is a guide about buying a new car.
Ad

Solutions

Share on ThriftyFunThis guide contains the following solutions. Have something to add? Please share your solution!

March 18, 2008

"Take cars, as another example. Say you put $4,000 down to buy a new car worth $24,000. You finance $20.000. Say you are charged 10 percent interest for 48 months. Your monthly payments are $507.20. You have paid not $20,000, but over $24,000. Plus, you probably have zero in your bank account. So now you have a shiny new car with which to drive yourself to the job you'd like to leave but can't, because you have no money saved. Hmmmm. How about if you reversed this scenario and paid $4,000 for a good used car, then invested that same $500 a month for the same 48 months at the same 10 percent interest, compounding monthly? At the end of 48 months you would have a car plus $29,605.92 sitting in your bank account. Hello? Is anybody listening?" lol

Ad

Source: The Simple Living Guide, a book, by Janet Luhrs page 34.

By Carol from Wyoming, PA

Comment Was this helpful? Yes

November 23, 20050 found this helpful

Realize how big a purchase a car is. It's the second-largest purchase most people make after buying a home. When you buy a home, you have so much help: a broker to help you find the home, and a mortgage broker for financing. An inspector, an attorney, a title search, a mover, and more.

But when you buy a car, nobody is there to help you. And the dealers want you to THINK you can waltz in to the dealership and buy a car in an afternoon... and you can, but you will pay much more if you do. So, just take your time and do a little bit at a time.

By Robin Segal
http://www.thecarbuyersbible.com

Next Tip: JUST Look Around

Ad
Comment Was this helpful? Yes

March 4, 20050 found this helpful

One way that car sales people try to rope you into a quick sell is by creating the impression that you NEED to buy now to take advantage of some deal. Or if you wait a day, the car won't be available. Dealerships and salespeople are out to make a profit off your purchase, not find you the best deal. Take your time buying a car, do plenty of research, shop around and don't be pressured into buying a car quickly. When you buy a car quickly, the dealer almost always wins.

Comment Was this helpful? Yes

December 14, 20050 found this helpful

This is the best time of year (Dec.) to buy a car! With sales being slow and the salespeople needing to meet the end of the year quotas, you'll probably be able to save thousands!

By Robin from Washington, IA

Ad
Comment Was this helpful? Yes

Questions

Ask a QuestionHere are the questions asked by community members. Read on to see the answers provided by the ThriftyFun community or ask a new question.

By 0 found this helpful
March 19, 2010

We're looking to purchase a new vehicle for the family. Does anyone out there have anything that they found useful/helpful when they purchased their vehicle or have any tips that have been passed down? Or anything at all that you think we should know? I really appreciate it. Thanks a bunch.

By Sadie Lynn from USA

Answer Was this helpful? Yes
March 19, 20100 found this helpful
Best Answer

Look at the ratings on Cosumer Reports:

http://www.cons  o/cars/index.htm

Reply Was this helpful? Yes
Ad
March 22, 20100 found this helpful
Best Answer

Beside checking Consumer Reports, which is great for comparing the various models against each other, once you are ready to make a decision -- if your choice is between two or three different car manufacturers, please call you insurance agent and ask him to give you a quote for each vehicle your interested in. You'll find that even though all the cars are similar in features, one manufacturer may have better accident experience.

I've done this for my last two car purchases, one in 1998, the other in 2008. In both instances, I liked more than one of the models. After checking with my car insurance agent, I picked the one that saved me approximately $13 a month less than the other. That's an extra $190 a year!

Also, if you are getting a car that's been used - whether by a dealer or other purchasers, order a Car Fax report so you can be sure the vehicle wasn't in a major accident, a flooded area, etc. It's the smart thing to do now-a-days.

Ad

MaryAnn

Reply Was this helpful? Yes

August 1, 2013

Can someone please tell me if there is a law in Alabama preventing a dealership from charging more than the car/SUV is worth? I was overcharged by several thousand dollars, promised a huge discount with a "voucher" I received (which wasn't applied to the contract). Is there a website I can go to for information about fraud laws in Alabama (automotive only)?

By missysmom

Answer Was this helpful? Yes
August 1, 20130 found this helpful

If you think you have been a victim of fraud, contact the Alabama state attorney general's office. They should have a consumer fraud division. They would be your best bet for advice, and whatever help they give you should be at no cost to you.

Reply Was this helpful? Yes
August 1, 20130 found this helpful

What do you mean be charging more than a vehicle is worth? What are you going by to determine that. Dealerships are in the business to make a profit, they are going to charge more than what they paid for the vehicle to begin with.

Reply Was this helpful? Yes
Related Content
Categories
Consumer Advice Cars Buying a CarApril 5, 2013
Guides
Childs Car Seat
Decorating a Child's Car Seat
Buying a Car at Auction, Car for Auction With Gavel in Foreground
Buying a Car at Auction
Buying a Cheap Car for First Time Driver, For Sale sign in Window of Used Car
Buying a Cheap Car for First Time Driver
Man Working on Repairing a Car
Saving Money on Car Repairs
More
📓
Back to School Ideas!
😎
Summer Ideas!
Facebook
Pinterest
YouTube
Contests!
Newsletters
Ask a Question
Share a Post
Categories
Desktop Page | View Mobile

Disclaimer | Privacy Policy | Contact Us

© 1997-2017 by Cumuli, Inc. All Rights Reserved.

Published by .

Generated 2017/08/10 09:07:28 in 1 secs. ⛅️️ ⚡️
Loading Something Awesome!