Bottom line, I need a car very soon. I couldn't care less about how pretty it is or who I impress. All I want is a car that will get me from point A to point B without trouble and that won't take up a lot of gas, and that will last a few years. I am on a small budget and have the chance to buy an 03 certified Cavalier (44,000 miles) for $9800. Will this car be sufficient for my needs?
2006-10-03 05:19:57 · 5 answers · asked by LG 1 in Cars & Transportation ➔ Buying & Selling
Horrible deal. The car is only worth 6k TOPS. That means, with your purchase price of 9800, and with taxes and fees bringing in another 1100 or so bucks, you'll be financing about 11000 on a car worth only 6k.
Just wait, it gets better.
The car is going to depreciate about 120/month on average. What's your payment? 220?
so, let's see what happens in 2.5 years:
You've paid 220 * 30 = 6600
Your car has fallen in value about 120 * 30 = 3600
You were about 5 grand upside down the day you drove off the lot. Now, after spending 6600 bucks, you are only 3000 upside down. does this sound like a good deal yet? Yeah, didn't think so. Remember, these numbers are in an ideal situation. If you are anything less than ideal, it'll be worse.
So what should you do?
Simple, look for a car with a lot better resale value and/or buy it from an individual. I don't care about the certification, it's just a fancy name for you're gonna be paying more than you need to. you can have any vehicle checked out by a mechanic, and you can walk into any dealership and purchase extended warranties....although that's probably not a very good idea either.
Suggestions:
Honda Civic, Toyota Corolla, Toyota Echo. You'll pay more, but there is an actual market for these cars over 100k mi.
2006-10-03 07:09:07 · answer #1 · answered by Manny 6 · 0⤊ 1⤋
Look in www.autotrader.com, you will probably find good deals in cars. You can find a lot of listing around your area.
I believe 9800 is a lot of money for a 03 Cavalier. Probably you can find the same car for around 6000. And a new Cobalt or one year one with factory warranty could be bought for your budget.
You could also try Focus, very good car. About other cars like Civic or Corolla, don't spend a lot of money and check if the car has been raced.
Of course, having a mechanic or a friend or relative who understand mechanics and the process of buying and selling is compulsory.
Good luck.
2006-10-03 18:54:13 · answer #2 · answered by wazup1971 6 · 0⤊ 0⤋
Being that it's certified, I don't see why not. You really can't go wrong with a certified powertrain warranty, especially if you buy the additional extended warranty on top of it to cover all other parts of the car. I wouldn't buy a used car without it.
2006-10-03 12:31:45 · answer #3 · answered by SLR 3 · 0⤊ 0⤋
I can sell you a 2005 Cavalir still in factory warranty fo less. So your deal sucks. Do a little homework before you buy and you will get a good deal.
2006-10-03 17:23:40 · answer #4 · answered by DAVID S 2 · 0⤊ 0⤋
That's too much money, even if it's an LS Sport. But I wouldn't worry about the car itself. Check nada.com or KBB.com and get some values.
2006-10-03 15:22:10 · answer #5 · answered by Papa John 6 · 0⤊ 0⤋