QuestionHello Ray. So February of next year with my tax return and my current car fund savings account, I will be looking for a new car. I want the lowest dollar amount financed, therefore my downpayment will be somewhere around $5000-$7000. I am, however, on the fence between purchasing a Chevrolet or perhaps a Honda or Toyota. All these car brands have spoken their reliability and dependability with years from consumers. However, all are not created equally. Chevrolets for instance have among the lowest ratings among consumers, while Honda and Toyota rank the highest.
My intentions with the vehicle is I will attempt to hold on to it and drive it for 10 years and plus. Chevys give excellent rebates and dealer incentives while Honda and Toyota does not. I was looking at the Chevrolet Cruze, which has an MSRP of around $18K. After rebates and incentives, the price drops to a very reasonable $14-$13K. After my downpayment, I would be financing roughly $6K-$8K. With the Honda and Toyota, (Civic,Corolla) MSRP are about the same-$18K. With my downpayment $12K-$13K financed.
So my question is, should I settle for a cheaper vehicle now and risk paying for it later(costly mechanical repairs), or just swallow the higher cost and buy a Civic or Corolla which I know will easily reach that 10 year mark with limited mechanical problems? I can afford a Civic or a Honda, but the appeal of paying for a cheaper car seems more responsible. So, I ask for your humble opinion on this matter. Sincerely, Jared.
AnswerHi Jared,
I assume your observations are based on current rebates and incentives, the picture will have changed come February . Here is how I would approach.
Which vehicle will have the best rebates and incentives come February, will that vehicle also be the best choice after test drives and having options to fit my lifestyle.
I can't deny your findings regarding ratings, please view this link on my website http://www.usedcartips.org/import.html to get my view.
Personally I would have no problem or fear buying domestic and expect it to go way beyond 10 years,,, this is 2012 not 1990 where the imports ruled.
When you get your tax return and ready to purchase get back to me at that time and lets study the pro's and con's which manufactured offer the best deal for that time frame,,, Once you have selected your choice of vehicle I will guide you through the process getting the best deal. In the meantime please study my site and pick up a few pointers to ponder on that you may not have considered
Have a Blessed day
From the computer of
Ray Paulsen
http://www.usedcartips.org/index.html
