Last post on Jun 29, 2009 at 12:29 PM
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Car Buying, Car Values
#13 of 19 Don't wait....
Jun 27, 2009 (1:20 pm)
until your old ride falls apart. There really isn't much chance to shop for a good deal if you have to have a car right away and your trade-in has a busted gearbox , been there, done that and it sucked.
#14 of 19 Re: Market in Chaos: When to Buy? [volvomax]
Jun 27, 2009 (3:02 pm)
i bought my used 05 impala 3 years ago($20,000 canadian)and still have roughly 2 years on my loan($9,100 canadian) and i was contemplating a new vehicle purchase. Is this a bad idea? I mean im not overjoyed with my current vehicle but it hasnt let me down either(sides the brake rotors ><) , the main reason i want a new one because deals have never been better,the fiance rates, and rebates ect ect. Would it be smarter just to wait the 2 years or buy the perfect vehicle for my needs?
#15 of 19 Re: Market in Chaos: When to Buy? [andys120]
Jun 27, 2009 (3:28 pm)
Rats no $30,000 new Porsches.
No, but your old one might get you $4,500 in the cash for clunkers program!
SUVs and Smart Shopper
#16 of 19 Re: Market in Chaos: When to Buy? [carstryke]
Jun 27, 2009 (4:49 pm)
Depending on the model, it's worth about 5-8k, assuming it has 80k on it. This is according to Canadian Black Book Value.
If you trade it you'll be upside down. What do you want to trade it in for?
Also in order to take advantage of the super low interest rates, you have to have very good credit.
#17 of 19 Re: Market in Chaos: When to Buy? [micosilver]
Jun 27, 2009 (6:28 pm)
What's wrong with buying a 2-3 year old car? So many cars can go beyond 100k miles with regular maintenance. Plus you save on the depreciation.
#18 of 19 Re: Market in Chaos: When to Buy? [boomchek]
Jun 27, 2009 (11:35 pm)
I wanted to trade it in for a midsize suv or a pickup or maybe even a g8 just cuz of the incentives, i admit i dont know much on how these deals work but they were adverstising crew cab silverados for 27k and equinox's for 20k (prolley 09 clearouts) plus the $1000 gm loyalty is kinda a little incentive. Basically just tired of having a basic boring vehicle with little utility (big trunk but still run out of space on trips) and was hoping to upgrade into something...not so basic that i would actually enjoy and would suit my needs a little better. As for the credit i assume i have good credit but again its another area im unfamilar with . I mean even though the car would be a upside down trade in, wouldnt you get it back and then some with the current offers?
(this is all in canadian dollars btw)
#19 of 19 Re: Market in Chaos: When to Buy? [carstryke]
Jun 29, 2009 (12:29 pm)
Yes the deals are there and if you feel you must get something else then by all means do it.
The amount that you're upside down will be tacked onto the new purchase loan.
You should familiarze yourself with your credit so you know where you stand by going to Equifax (online) and buying your report for about $20. Yuo can learn about your score and what you should do to improve it. The better your credit report and the score then the better rates and deals you'd qualify for.