obo said:
I saw a few cobalts and really liked the way they looked. Are pontiac grand prix really that good of cars? I've heard a lot more about the g6 cars but don't know if I want to get a six cylinder car due to the lower gas mileage
Both are overpriced. Let me give you my take on this - cars are the single biggest thing that lead Americans into to debt. If your car payment INCLUDING INSURANCE is over $200 per month, you're spending too much on your car! My wife and I are both professionals and before we started Viking our combined income was about $160,000 per year. Now you would assume we would be driving a Cadillac or a Camaro with those annual wages, right? Wrong! I paid CASH for my car at a government auto auction. And to this day I still live by the rule that your car should cost less than $200 every month including the insurance and payment. We do this because it helps us save money for all the other shit that happens in life (you want to buy a house some day, you want to have kids, well those two things are expensive - what would you rather have? A nice car, or a nice girl, a nice family and a nice house? Think about it.)
I paid $5,400 (plus title and tax) for a 2003 Dodge Stratus (base model, no frills or addons) with 27,000 miles on it. Best money I ever spent. My insurance is low since it's not a hot rod and I don't have any car payments at all. I was lucky enough to have $7,000 in cash available for a car purchase when I needed it. The car I purchased used to be a government fleet vehicle. The auction houses are required by law to allow citizens (not just car dealers with dealer licenses) come and bid on the cars. Be careful though, depending on the economy in your area, the bidding may get out of control. The danger here is a lot of people who don't know what the hell they are doing show up and overbid on economy cars.
http://autoauctions.gsa.gov/autoauctions/
Ok, no good car auctions in your area? Then look through Craigslist or your local classified ads or "nickel ads". Caution, you can figure at least 30-40% (or more in some low income areas) of the people selling their cars have treated them terribly. Your job is to be diligent and make sure you don't buy one of these lemons. How can you do that? Once you've narrowed down your search and make an offer to the owner, make it very clear to the owner that your offer is only good AFTER you've taken the car to YOUR indepdent mechanic for a FULL inspection. Wait, do you have to pay more money for the inspection? Yes you do, but it's only going to cost you around $100-$150 for an independent opinion. Even if you have to do this 2-3 times, it's STILL better than paying the 20% markup that you are going to pay at a dealership.
Figure if a dealer is going to sell you a car for $8,000... you can get the same exact car with less miles from an independent seller for about $5,500. That leaves a lot of room for inspections, etc. So if you got the time and maybe a buddy who knows a few things about cars, take him along when you go 'shopping' to see these cars from the independent sellers.
Ok, lastly, let's assume that there are no good government auto auctions in your area and there just aren't any cars with the right miles in good condition in your area selling on Craigslist or the classified ads (or maybe you just don't have the time to go through that process - I understand - it is more time consuming for you to shop independently). In this case, ONLY go to a NAME BRAND dealership. DO NOT go to "Joe's Auto". These guys will fuck you every time. Go to a REPUTABLE, NAME BRAND dealership - it DOESN'T matter which one - it can be Honda, Ford, Hyundai, Kia, who cares. The point here is to avoid the 'mom and pop' sales. I've personally been screwed by these people too many times and often they don't even have a mechanic on the property. They are going to try to sell you a lemon.
Ok, so now you're going to a dealership. I would NOT spent more than $10,000 for a brand new car, period. You can get last year's Kia models in almost new condition including the 100,000 mile warranty sometimes for the upper $7,000's plus title and tax. This might be a little bit out of your budget, but you are getting a brand new (or practically brand new car) with the full warranty. This is important. If you buy a Cobalt I guarantee you are paying for the name/look and you are paying too much. I don't care if you think buying a nice looking car will get your pee pee sucked, you do NOT want the kind of girls in your life who are just interested in your 'hot ride'. My wife is the most amazing woman on the planet and when she met me I was a deadbeat with NO CAR at all, and that didn't stop us from getting married.
So try to find a Kia/Hyundai/or even low mileage Honda but make sure it is NOT a 'hot' model (hot meaning attractive model) and look for the colors that suck (puke green, boring blue, etc.). Red always costs more. Don't pay sticker. Ever. Not even on a used car. No matter what the dealer has posted on that car, offer him 10% less and stick to it - if he doesn't accept your offer, WALK OUT OF THE DEALERSHIP. If he doesn't chase you down (he will), then go to the next dealership - there are literally 30 dealerships to choose from in my town alone.
Ok, you've bought the car and now the dealer wants to finance you... here's where all the dirty tricks come in! Be sure to take a friend to help you out - somebody who's got a good head on their shoulders - to help keep you from getting pressured into a bad decision! Once you are in the finance room you will be surrounded by 2 or 3 car salesmen that are all trying to pretend to be your friend. Even if you talked them down 10-15% from the sticker, they are now going to try to make up for that by fucking you on the financing paperwork. You're better off to have already setup financing with your local credit union and/or local bank if your credit score will allow it. Avoid large megabanks - Bank of America, Chase, etc. - bank at the small banks. Often you will actually get better percentage points and you ALWAYS get superior service from these small banks.
Anyway, please if you end up at a dealership take everything with a grain of salt, remember, you can choose NOT TO BUY! If your gut says something doesn't feel right, DON'T BUY! These guys are predators I guarantee it! You can get a good deal from a dealership but you need to be firm. Don't buy the first time you walk on the lot. Pick out two or three options, then go home and think about it. Research the car(s) you want to buy on the internet and YOU decide what the fair price is. Then go back the next day and make your offer and STICK TO IT. I guarantee these fuckers have plenty of wiggle room as even on an $8,000 car chances are they probably got it on a trade-in for $2,500 from some sucker, or purchased it at a dealer-only car auction for $5,000-$6,000, changed the floor mats and buffed it for $100, and are trying to make a nice profit.
DON'T let them make a SUCKER out of YOU!
And Good luck!
Now take all the money you saved through the diligent method of buying an economy car and go party it up and have fun with your friends and family!
