Good time to purchase/lease a car?

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asiancivicmaniac

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My mom wants to get a car because sharing one between her and my dad has become inconvenient for work. She's dead set on leasing/buying new because she really doesn't want to deal with repairs on a used car. Not to mention the outrageous prices lately. Within the next couple of months when do prices tend to be favorable?

We're looking at compacts. Pretty much anything is game except the ugly ones (Yaris, Corolla, Kia Soul [according to my sister], etc).

I just looked at the lease option for a '11 Elantra and it seems decent to be driving in a new car. If buying, I'm biased towards the Civic and if we could find a good deal on one then it would be awesome. Waiting for Mr. Opportunity. All she wants is auto, p/windows, p/locks, and good gas mileage and she's happy. And even though anything is game, she got a bad taste from Dodge a few years back and it would take a really good deal to get her into something American. I like the Cruze, but I'm worried about the depreciation that normally hits Chevy compacts (ie. Cavalier and Cobalt). Oh, and she's somewhere around 5 feet so visibility is important.

CONSTRUCTIVE suggestions welcomed.
 
You're on to something. Watch TV ads. Sometimes you can get a corolla sized car lease for $169/mo or so. Maybe the Japan quake has complicated a couple makes.

If credit is no issue, go ahead and buy new, it'll be worth (foolishly) close to its MSRP in a couple years if it's a Civic/Corolla.

BTW the Ford Fusion has better projected resale than the camry, check out rates on it at least.

The new Nissan versa base model for $11k has AC but the toys she wants will quickly bring it up to $15k.

Might be worth seeing what the airport rental cars are. Chances are good they got an amazing deal on them, so what they resell for in a year is still "good enough". I'm amazed at the current mix, not just cavaliers and sebrings anymore.
 
I don't think you'll see any relief from high prices over the next couple months on what you're looking for. First, this is prime buying time. Second, compacts are hot due to high fuel prices. Either way, I wouldn't expect a good deal. Topping it off, all the ones you listed are new models. So 3 for 3 against getting a good deal.
 
Typically the end of the month is the best time to deal on cars. That's when they switch from gross profit, to volume to hit quotas and bonuses, at least in any store I worked at. I'd either do it now in July or the end of September when the kids are back to school. You'd be amazed how many parents shop with kids for cars, just before school starts, and dealerships tend to hold out a bit more for gross profit. Take that info and combine it with a leftover 2011 [that's if you want a year old new car], and you could score if you do your homework, and shop around.
 
Originally Posted By: eljefino
You're on to something. Watch TV ads. Sometimes you can get a corolla sized car lease for $169/mo or so. Maybe the Japan quake has complicated a couple makes.

If credit is no issue, go ahead and buy new, it'll be worth (foolishly) close to its MSRP in a couple years if it's a Civic/Corolla.

BTW the Ford Fusion has better projected resale than the camry, check out rates on it at least.

The new Nissan versa base model for $11k has AC but the toys she wants will quickly bring it up to $15k.

Might be worth seeing what the airport rental cars are. Chances are good they got an amazing deal on them, so what they resell for in a year is still "good enough". I'm amazed at the current mix, not just cavaliers and sebrings anymore.


She would be okay with a no frills Versa for that price granted there's A/C and auto. Is there somewhere to look specifically at ex-rentals?
 
Yes, buy new. Used car prices are very high right now. I'd also buy within the calendar year (Black Friday is actually the best day to buy a new car because while malls and big box stores are packed, dealer lots are not and they will deal). Inflation is coming. That means prices and rates will be going up. Hard to say exactly when (prices are already up for raw materials big time), but it will happen.

Like meangreen said, your chances of getting a good deal are not good with small cars right now, especially new models. So don't expect incentives. How far off of sticker you can get depends on the dealer and your bargaining ability. Try to bargin the trade in, that is where you'll make up the most money probably.

For vehicles, I'm partial to domestics right now. Their looks and build quality are good. The Corolla is a horrible vehicle (styling and interior), and I've never liked Hondas. Cruze, Focus, and Elantra would be what I'd look at.
 
Originally Posted By: hypervish
Get a toyota!
Don't get a rental!! Rental cars are generally abused...


Neither the Corolla or Yaris interests us.
 
Sorry your Mom had a bad experience w/Dodge because the Ford and Chevy brands are rated very highly these days. Your best bet for a "good deal" is a leftover.
If you go to KBB.com or Car Sense, they have very good tutorials on car buying. If your Mom is a AAA member, they have a car buying service that is very good. I used it to find the car I bought last year.
 
May I suggest the Kia Optima? It passed all four NHSTA crash tests with 5 stars. The seat and seat belt is adjustable for height. It has more airbags than the Monday morning staff meeting. They're surprisingly comfortable and good looking too. Kia has come quite a ways from the "rolling beer cans" of just a few years ago. Consumers Reports wrote a very favorable review of it too.

Personally, I can't bring myself to drive a car with "K-I-A" on it but that's just me. All kidding aside, I would seriously consider this for a family member whose safety I was concerned about and was just suggesting it to my daughter.
 
If you are leasing do it on a 2012 not a 2011. Your residual is based on what its worth when you are done with it. I don't think leasing is such a good deal anymore. A 2011 will always be a year older than a 2012 when the lease is up. Buying in late summer when all the rebates are on and dealers have added incentives too. and of course the end of the month is good. Even going in on the last day is best! be prepared to get up and head for the door too. Good luck! There are always good deals out there.
 
Originally Posted By: RW1
May I suggest the Kia Optima? It passed all four NHSTA crash tests with 5 stars. The seat and seat belt is adjustable for height. It has more airbags than the Monday morning staff meeting. They're surprisingly comfortable and good looking too. Kia has come quite a ways from the "rolling beer cans" of just a few years ago. Consumers Reports wrote a very favorable review of it too.

Personally, I can't bring myself to drive a car with "K-I-A" on it but that's just me. All kidding aside, I would seriously consider this for a family member whose safety I was concerned about and was just suggesting it to my daughter.


+1. KIA has a good warranty too.

My Cousin has a KIA Forte and loves it.

We have a 2012 KIA Sorento EX V-6 and are well pleased too.
 
Originally Posted By: SrDriver
Originally Posted By: RW1
May I suggest the Kia Optima? It passed all four NHSTA crash tests with 5 stars. The seat and seat belt is adjustable for height. It has more airbags than the Monday morning staff meeting. They're surprisingly comfortable and good looking too. Kia has come quite a ways from the "rolling beer cans" of just a few years ago. Consumers Reports wrote a very favorable review of it too.

Personally, I can't bring myself to drive a car with "K-I-A" on it but that's just me. All kidding aside, I would seriously consider this for a family member whose safety I was concerned about and was just suggesting it to my daughter.


+1. KIA has a good warranty too.

My Cousin has a KIA Forte and loves it.

We have a 2012 KIA Sorento EX V-6 and are well pleased too.


We don't have a KIA dealership in town in case of warranty. The closest ones are 45 miles away. Mom doesn't travel far.
 
Originally Posted By: asiancivicmaniac
Originally Posted By: SrDriver
Originally Posted By: RW1
May I suggest the Kia Optima? It passed all four NHSTA crash tests with 5 stars. The seat and seat belt is adjustable for height. It has more airbags than the Monday morning staff meeting. They're surprisingly comfortable and good looking too. Kia has come quite a ways from the "rolling beer cans" of just a few years ago. Consumers Reports wrote a very favorable review of it too.

Personally, I can't bring myself to drive a car with "K-I-A" on it but that's just me. All kidding aside, I would seriously consider this for a family member whose safety I was concerned about and was just suggesting it to my daughter.


+1. KIA has a good warranty too.

My Cousin has a KIA Forte and loves it.

We have a 2012 KIA Sorento EX V-6 and are well pleased too.


We don't have a KIA dealership in town in case of warranty. The closest ones are 45 miles away. Mom doesn't travel far.


How about a Hyundai dealership? Same company. Same warranty.
 
Originally Posted By: asiancivicmaniac


We don't have a KIA dealership in town in case of warranty. The closest ones are 45 miles away. Mom doesn't travel far.


A Hyundai dealership will cover any warranty issues that could come up. There may be a day delay to get parts from the KIA but most of the parts are the same. They will even work on the rig if you pay them.
grin2.gif


Bill
 
Originally Posted By: Bill in Utah
Originally Posted By: asiancivicmaniac


We don't have a KIA dealership in town in case of warranty. The closest ones are 45 miles away. Mom doesn't travel far.


A Hyundai dealership will cover any warranty issues that could come up. There may be a day delay to get parts from the KIA but most of the parts are the same. They will even work on the rig if you pay them.
grin2.gif


Bill


Didn't know that. Now Kia is an option.
 
Originally Posted By: The Critic
I would wait for the redesigned Camry that will be launching in a few months.


It's out of our price range.
 
Originally Posted By: asiancivicmaniac

She would be okay with a no frills Versa for that price granted there's A/C and auto. Is there somewhere to look specifically at ex-rentals?


No, I'm just saying see what the rental fleet buyers are buying. They must be on to something. They're even getting Prisusssessses and running them past 40k and making money.

IIRC the Versa you have to go up a trim line to get an automatic, so it gets expensive quickly.
 
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