New advice on buying a new car

[tehehodi]

yoo can't read?

[turbotalon1g]

I don't see why one would really need it, unless your car is something that depreciates a stupid amount daily.

[goodhart]

If you end up putting a lot of miles on a car, it can depreciate very fast. It's typically only like $250-300 anyways, so it adds a whole $7-8/mo to your average 36 month loan.

[Murlo26]

I don't see why one would really need it, unless your car is something that depreciates a stupid amount daily.

I think its typically for people that end up taking out big loans for a new car, like 20k+ and spread it out over a very long time. Like a 72 month loan or something crazy so the payments are low enough.

I agree for most it won't make sense, but for the above case it might. I'd say just save up a bit to put a downpayment down so you don't end up ever needing said insurance.

[turbotalon1g]

Cool, i've never taken out a loan for a car and I only took out $2k on my civic because I needed something on my credit since I knew I was gonna sell my house.

I'm hoping to buy a new car once the wife and I lock down some solid employment so this is all very helpful.

[HiImBrian]

Thanks for the helpful info guys!

[tehehodi]

go get 'em tiger

[niterydr]

I think its typically for people that end up taking out big loans for a new car, like 20k+ and spread it out over a very long time. Like a 72 month loan or something crazy so the payments are low enough.

I agree for most it won't make sense, but for the above case it might. I'd say just save up a bit to put a downpayment down so you don't end up ever needing said insurance.

My recomendation was based on that coupled with the fact that the used vehicle (remarketing) arena will not remain hot forever. Some experts predict a sharp decline around 2013-2014 on vehicle resale values.

So for those that have cars that haven't "bottomed out" resale could be killer. Also remember, insurance companies pay out on NADA/KBB/Black book value, unless you can prove it is worth more, so when the esimated sale price drops, the more "bag" you are left holding if the car is damaged/totaled.

[HiImBrian]

Well I drove that 2011 wrx tonight and it moved a lot better than I had expected. I somewhat expected it to feel like the gt spec b, but it blew that car way out of the water! Only problem is I'm still kinda unsure of what I want. Ug I hate car shopping!

The 2011 wrx would be sweet because I'd be able to trade in my 2.5rs and knock down the price some and not have to worry about finding a buyer. Selling my rs privately in CO might be hard because I'm quite confident the jdm motor wont pass emissions. I'm not sure how a dealership would handle this, but I do know that they don't check emissions during a trade. The downside to the sedan is that it's currently got winter tires on the stock rims, so I'd have to buy another set in a few months when summer comes. I also noticed a little bit of ghetto rigging with the aftermarket short ram and the mas.

The wrx wagon seems to be a little less risky because it's $7000 less. I looked over the car and saw zero rust and zero hint of it ever being modified.

I have three options at this point:
a) 2006 wrx wagon
b) 2011 wrx sedan
c) wait

[HiImBrian]

option d) I found a couple evo8's for sale in my area asking $15000 ish. Isn't a 2003 kinda getting old though??

http://cosprings.craigslist.org/cto/2825796119.html
70k on the black evo for $15700 but the dude sounds kinda sketchy.

http://cosprings.craigslist.org/cto/2852075442.html
90k on the silver evo for $16000 with some wiggle room.