Two Questions Re: Purchasing A Used Vehicle πŸš™πŸš™

Anonymous
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I can’t imagine a dealer not holding a car for you for 2-3 days if you give them a deposit. Also, not returning the deposit sounds almost criminal. If you are new to dealing with used car salesmen ask your step dad to help out.


Think of it from teh dealers' side -- if anyone can come in, leave a $1k refundable deposit,and now the dealer can't sell that car to someone who walks in an hour later ready to do a deal, then people could abuse it. Find cars they like at 3 different places, and put refundable deposits on each. THe deposit is meaningless then.


OP HERE:
Thank you to everyone on here who has responded thus far.
It appears that even though the miles are low, buying an eleven-yr. old car would be a huge risk.
I am seriously reconsidering my purchase thank goodness‼️

I did offer the dealer a non-refundable deposit vs. financing, but looking at it the next day I do not think this would be such a wise move after all.
And yes - if the dealer gets a cut of the financing then I can see why the car salesman pressured me to finance.
However I do not want to go that route.
I prefer paying in cash because I want to avoid the hassle of time filling out paperwork, waiting around, verifying my info, more waiting….and so forth. πŸ˜¬πŸ™„


They will probably make you wait around and do some paperwork anyway. For example, when paying cash (check counts as cash) they need to report it to the IRS for anti-money laundering. But just bring a good book and just be patient and wait. If you want it to go faster, go in mid-day during the week -- things are slow then and you can get in and out in an hour ideally.

Just be firm about not wanting to finance, don't claim it's due to paperwork because they will have an excuse for that. Just tell them you don't want to take on any more debt and that's that.


OP Here β†ͺ️:
Great suggestion here for not mentioning not wanting to do the paperwork.
Yes, you are correct.
They will find a way to encourage me to still do it.

And luckily I have full-coverage insurance still (!) from my previous vehicle.
Anonymous
BTW, it's not the cars salesperson selling the warranties and whatnot, it's the FINANCE manager. And yes, they get a cut for every little thing they can add on and sell you so bear that in mind.
Anonymous
Anonymous wrote:

And luckily I have full-coverage insurance still (!) from my previous vehicle.


The dealer will likely need to see an insurance card with the VIN of the vehicle you plan to buy before you can drive off the lot. It's easy -- just call and do it on the phone and they'l email it to you (or use your insurer's app if they have one, even easier), but remmeber to do that so you're not stuck waiting around on that.

Anonymous
Anonymous wrote:Thx for the very helpful advice given.

This is re: miles vs. age of car.

Car 1: A Toyota Camry 2010 at 81,000 miles.
Car 2: A Toyota Corolla 2015 at 101,000 miles.

Almost the same price for both.
Would it be better to buy Car #2 since it is five yrs. newer even though it has 20,000 more mileage?


Definitely the car number two. Yes it has higher miles, significantly more but it is still only a 6year vehicle even if it is a step down from a camry. In the long run the car will last longer since it is not even a decade old,
Anonymous
and if you pay for the car in full on cash, then you do not need to prove to the dealer that you are insured. Only if you are financing since the car is not your yet, it has a lien on it.
If u have the title in hand, the car is yours.
Anonymous
Person with older car again, some things to consider and plan for.

-most cars need a major tuneup around 100k, like $750 major tuneup. You can check the maintenance schedule do what is recommended online to see what’s needed.

- check the tires, 4 new tires, mounting, and an alignment is another $750+

- brakes, $300-500 an axle depending on the car and if you need new rotors.
Anonymous
Might be a good time to buy a newer car. The salesman knew if you had time to think you would likely back out of such an old car.
Anonymous
Let me tell you. That dealer needs you more than you need him. You need to be confident enough to walk away from any deal. No money down until you are completely ready. You are in the proverbial driver's seat. There are tons of used Hondas out there. I would look more. Look for low mileage Toyota Camry for about 6-8 years old, or whatever, fits your budget.

You were in an car accident and now are getting forced to replace your car. And, rarely does anyone really get what's worth to you out of an insurance company. So, make these guys sharpen their pencils bc you should be willing to walk right out the door.
Anonymous
Anonymous wrote:
Anonymous wrote:Thx for the very helpful advice given.

This is re: miles vs. age of car.

Car 1: A Toyota Camry 2010 at 81,000 miles.
Car 2: A Toyota Corolla 2015 at 101,000 miles.

Almost the same price for both.
Would it be better to buy Car #2 since it is five yrs. newer even though it has 20,000 more mileage?


Definitely the car number two. Yes it has higher miles, significantly more but it is still only a 6year vehicle even if it is a step down from a camry. In the long run the car will last longer since it is not even a decade old,


Yes, the 2015 Corolla is a great choice. Make sure to look at the carfax report. When buying used, I prefer a no accident one-owner vehicle (personal use, not a fleet vehicle or a rental) with maintenance records. When I was younger I also enlisted AAA to help me find a car. That worked great at the time. I bought a 5-year old Camry that had been traded in by an older person.
Anonymous
When it comes to used car shopping, miles IS king.

Miles = reliability.
Sure a newer car will have modern features, but what good is a back-up camera if the car doesn’t back up because the engine is kaput?
I would take a low mileage car any day.

Paying in cash is not that great, especially at a dealership.
Reason being is that dealerships have connections with their own financial institutions and they get a cut off the top if they can get it’s clients financed to these banks.

But if someone comes in all cash - the sales guys as well as the financial associates miss a chance at a fatter commission check.
They want more than just commissions off car sales, they also want a cut off of a bank’s profit on top.
Even if you pay all cash for a used car β€” the financial department will always up sell you on warranties, paint protection, anti-theft devices, etc.
They can be ruthless.

I usually pay all cash for used cars and am still in the dealership minimum two hrs.
Most places require filling out a credit application just to test drive their cars!!
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