:word:
Most $5000 cars will require work over a 2-3 year period.
How hard is it to actually save 4-5k for a car? I would imagine most places that sell 4-5k cars are buy here pay here with really high interest rates also.
Protip: Don’t cosign a loan for anyone who needs a cosigner.
Fixed.
just to simply answer the OP question…Peter Kay Auto Sales…3 locations Alden, Hamburg and N. Tonawanda…I worked here for a while…still know talk to the owner and a couple good friends still work there…gets a lot of solid cars from FL.
up her budget to 7000 and ill sell my rsx type S.Driven like a grandma people can vouch that i drive it was and that djs87 did as well.
$5,000 cars don’t exist and won’t live up to your standards. I promise you.
Have her put a couple thousand down, Toyota is running a butt load of rebates right now and she could probably drive a brand new corolla, with pre-paid maintenance for two years for way less than $200/month.
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Is she a recent college graduate? Is she currently enrolled in classes?
She could finance a lambo from that thread we had earlier. Think it was like 1000$ down, 200$ a month for 75 years or something
I second this, and you might as well look at Corollas too. I just found one at a small dealer, and while I’m still skeptical about the decision, I needed a car and this was the most suitable Corolla I could find in my price range. If you have the time though, you are bound to come across a 1-owner with records Toyota for sale. You’ll pay a little extra premium for it, but it will be well worth it in the long run.
edit- Especially if you’re going with an automatic, I would take Toyota over Honda. I just trust them more in general.
How long should a $5000 car last, and/or still have some value? 2?3 years? Lease a cheap new car and save the repair bill money for a downpayment on the next car. Plus no “fix this POS” headaches.
X…
leasing a car is stupid. you get nothing back when you take it in and are restricted for miles, and a good choice for a car in the 5k range will get you a car that will last longer then your lease timeframe and you can sell it after to get some money back. the only people that buy a lower cost used car and end up dumping tons of money into them for repairs are stupid people that didnt pay enough attention and picked a poor car.
leasing is as dumb as renting an apartment for long term.
For everyone that is suggesting a cheap lease, I doubt she can qualify for an OEM incentive program if her credit still needs building. Maybe with a cosigner, but it would probably be a 10k mile.
The used car market is very strong, so a $5k car is not what it used to be. I bought my Impala 2 years ago, put 25k miles on it and the KBB retail price is still what I paid for it.
My suggestion is start talking to people considering upgrading and offer to buy it rather than trading it in.
I could offer up some suggestions on used car dealers but they need to make a living. On a $5k car they probably have at least a grand in overhead, commision and profit.
My buddy owns Octane Auto on Seneca in Elma. Real good guy and can get you anything from the auction if he doesn’t have something you like on the lot.
Sorry man, but you are wrong. As usual it depends on the lease terms/price/resale/etc… Saying that a cheap lease is a bad idea is financially naive. See frys civic lease thread.
So 5k loan at what 12%? or fuck even higher go check out interest rates of buy here pay here places :lol:
Assuming someone who needs an auto loan for 5k probably has bad credit
12%
2 years is 230ish a month
3 years is 160ish a month
Over the course of 3 year brakes/tires/misc shit? Assuming you don’t do your own work is what another 2k? or this 100k+ car you just go has the tranny/motor let go.
200 a month or less could lease you a brand new Civic/yaris/whatever with a warranty and probably better gas mileage then whatever your buying.
You walk away with a better credit score and your not upside down on the car the minute you drive it off the lot.
Next car purchase you have better credit and hopefully saved up more money
^ If you have the kind of credit that gets you 12% on a $5000 car loan you’re not going to qualify for a good new car lease rate either.
I would think a Civic or Corolla lease would be good. She doesn’t drive much around 10K-12K a year.
You could probably get in touch with the finance director at a dealership, that sells and leases, oh i don’t know…Toyotas. You know, the guy that’s going to get her approved. I wonder where we could find one of those? I bet he could get you halfway decent terms, even with crappy credit.
Outside a local high school?
Zingggggg, lol.
Atleast 100 yards away, but check the bushes behind the baseball diamond.