Buying a new car 101

[Anonymous]

DH is pushing to replace our 2010 Sienna minivan with a new $39,000 hybrid version. We will probably get $7,000 for the trade in. We bought a new hybrid RAV4 two years ago. He is largely doing this out of environmental concerns and because DS is almost 16 so DH wants him to drive a vehicle which has better safety features (he would probably drive the RAV4 and I would drive the newer car). I confess I am genetically frugal and would rather stick with the old car for now. I always prefer to buy used cars. The old Sienna has done 150,000 miles and will need new shock absorbers in the next 12 months, which will cost $700. That said, there is uncertainty over possible repairs at that age.

We did 10,000 miles in the old Sienna and 20,000 in the new RAV4 in the last two years so our annual mileage is about 15,000 miles. The increase in auto insurance premium for adding DS16 would be about $1,000 more with the new Sienna. I really don't see the point getting an inexperienced driver a new car. That said, I realise a Sienna minivan is not the ideal car for DS to learn to drive and then to use subsequently. We do have the cash to buy a new car but we are not swimming in funds.

What do you think? Does it make sense to get the new car given our level of mileage and to have a freshly minted driver driving a 2 year old RAV4? Is there anything in favour of buying a new car which I haven't considered? Also, is there an ideal time of year to be buying a new car?

So many questions! Would love some guidance.

[Anonymous]

Having just looked at cars, $39K for a new Hybrid Sienna is too low. We have up on the idea of a new hybrid because the prices + the dealer markups. We bought a several year old car no hybrid hoping we will trade up eventually.

[Anonymous]

Anonymous wrote:Having just looked at cars, $39K for a new Hybrid Sienna is too low. We have up on the idea of a new hybrid because the prices + the dealer markups. We bought a several year old car no hybrid hoping we will trade up eventually.

Yep. I'd like to know where you're getting this price, OP. I'm in the market for a new hybrid.

[Anonymous]

DH sent me a Toyota doc showing this. It's a PDF and I can't tell where he got it from.

[Anonymous]

Anonymous wrote:Having just looked at cars, $39K for a new Hybrid Sienna is too low. We have up on the idea of a new hybrid because the prices + the dealer markups. We bought a several year old car no hybrid hoping we will trade up eventually.

Probably bait & switch. This happened to me recently. I thought I finally found a dealer not doing insane markups on MSRP and went in for a test drive. Loved the vehicle and got the ball rolling to make a purchase. The first words out of the sales guy's mouth were: I'm going to be honest with you, because of supply issues, we do have a slight markup on this vehicle, so $45,500 is the price before taxes, title, and fees.

Uh, no, you were not being honest. Even when I told you my price point of under $40k, you said nothing. Waiting until I'm ready to start the purchase is not being honest. I laughed at him and walked out. Fk that nonsense. I went to the dealer 1 mile from my house and bought the same car WITH the markup prominently displayed. The only reason why I went to the first dealership was because their prices online were only $500 over MSRP! Bait & switch. Shady, shady.

[Anonymous]

I think your number is about $5k too low even for the bottom of the barrel model.

[Anonymous]

Yes, agreed that this price is likely not accurate. We are in the market for a new vehicle and have been looking at the Siena and Odyssey as well as some SUVs, and I am pretty shocked at the cost of cars now.