How do I buy a car?

[JoshuaD]

My jeep just blew up, and I know jack and [censored] about cars, so I'm just gonna give you guys as much information as I can, and hopefully I'll get some good advice.

It's not worth repairing the jeep.

I've got about $5000 cash on hand that I can spend on the car. I play poker for a living, so I'd kinda like to avoid monthly payments, but it's not a big deal if I get them -- I'm already living in an apartment and paying my monthly bills with my poker winnings.

I don't know if I should be leasing or buying. Generally, what are the pros and cons of each?

I have no idea what model I should be getting. I've been eyeing Hyundai and Toyota just becuase I hear they last for a long time, but that's about as much as I know.

I don't know if I should be buying used or new.

I really don't know anything. I'm dumb when it comes to cars. Someone plz help. /images/graemlins/frown.gif

edit: Function is much more important to me than form. It'd be nice if the thing looked nice, but I'm not gonna pay extra to make it look that way. I want something that I can depend on, and if I'm buying, something that will last a while with minimal headache.

[Eurotrash]

ask jason_t.

[Shoe]

Buy. Do not lease.

You should be able to find a reliable car around 5k. Buy a sunday paper and look through the transportation section (or whatever it is called in your town), and look for cars you think you would like in your price range.

Go to kelly blue book (kbb.com) to get a good idea of what the car is actually worth for negotians.

That's about all i know, hope it helps.

[jason_t]

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ask jason_t.

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We talked over AIM.

[JoshuaD]

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ask jason_t.

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We talked over AIM.

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Jason_T convinced me pretty good to buy either a new civic or a slightly used civic. Anyone think that's a bad idea?

[Isura]

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Buy. Do not lease.

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Ugh. Lease, don't buy. It's not really close.

[mslif]

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ask jason_t.

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We talked over AIM.

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Jason_T convinced me pretty good to buy either a new civic or a slightly used civic. Anyone think that's a bad idea?

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I think it is a pretty good choice. Civics are excellent cars and will last you a long time. The maintenance required for those cars is minimal as well.
Regarding new vs. used, given your wish of not wanting a monthly payment, I would go for used.
Good luck.

[Isura]

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ask jason_t.

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We talked over AIM.

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Jason_T convinced me pretty good to buy either a new civic or a slightly used civic. Anyone think that's a bad idea?

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Lease a 2005 Civic. You will be happy with the low payments, good mileage, and the new armrest rocks.

[wh1t3bread]

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Ugh. Lease, don't buy. It's not really close.

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I disagree. It is close if the car has resale value.

[JoshuaD]

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Buy. Do not lease.

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Ugh. Lease, don't buy. It's not really close.

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How come everyone is really polarized on this issue? Some people say "ugh, don't lease" and some people say "ugh, don't buy". /images/graemlins/confused.gif

[JoshuaD]

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Ugh. Lease, don't buy. It's not really close.

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I disagree. It is close if the car has resale value.

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I'm planning on keeping the thing for a while. If it lasts me 10 years, then that long.

[Isura]

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Ugh. Lease, don't buy. It's not really close.

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I disagree. It is close if the car has resale value.

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I don't know about the US. But in Canada, leasing is clearly a better choice vs buying. Especially with something like a civic.

[wh1t3bread]

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I don't know about the US. But in Canada, leasing is clearly a better choice vs buying. Especially with something like a civic.

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I don't know for sure, but I'm pretty sure a decently kept civic has a pretty good resale value even 8 years later in almost any urban area in the US. Depending on interest rates for auto loans buying a civic right now might make more sense then leasing. This all depends of course on a) where in the US you live b) what type of loan you get.

As long as the OP finds a car he likes and does the math after researching resale value on that car he should be okay.

[Shoe]

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Buy. Do not lease.

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Ugh. Lease, don't buy. It's not really close.

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Financially, leasing is one of the dumbest things you can do. If your so materialistic, that you need new car every 2 years to show off that you could otherwise not afford, then by all means, lease.

[mmbt0ne]

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ask jason_t.

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We talked over AIM.

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Jason_T convinced me pretty good to buy either a new civic or a slightly used civic. Anyone think that's a bad idea?

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Get that new 50mpg Civic.

[MyTurn2Raise]

I'm more than satisfied with the slightly used Toyota Camry I have. Never any repairs. Just basic upkeep. Rated high in consumers report too. 33 mpg highway. Great resale value if you happen to win a WPt event or something. It's a step higher than the civic. The Carolla is the Toyota equivalent.

[theben]

usually, buying should be a better deal than leasing. although its not always the case, i'd imagine you'd be best off buying a solid, reliable used car. its a good idea to seek a well made and reliable car because if you get something that breaks a lot, it'll end up costing thousands extra in annoying maintenence

[InchoateHand]

I use money.