Saturday, February 9, 2008

Shopping for a Car

C2 has taken over my car. I had hoped to wait until the end of June to begin car shopping. I knew he would need transportation for work, school, and after school activities, but I was hoping that it would be later rather than sooner. I had planned to save $8K to $9K by the end of June and he was to save $1K.

Well, here it is February. I have $6k and C2 has zero dollars saved. He's working almost everyday after school, so I have no ride home from the commuter lot. If I want to go to the gym or to my pilates class, I have no transportation. So as much as I didn't want to do this, I took out a $4k loan. I figured it's an improvement over totally financing a car. Before I became financially focused, I financed a new car 100%. This time I'm looking to finance a pre-owned car for $4K and with my $6K in cash pay $10K for a pre-owned vehicle. My goal is transportation. No bells and whistles.

If you are a car salesman, I mean you now disrespect. We all have to make a living. I've never sold cars, but I imagine that there is some gratification in doing so. Basically, I'm sure it's a noble profession. Here's the but...I hate the process. I don't understand why I can't just walk onto the lot and tell the salesperson exactly what I'm looking for and then he or she says to me yes we have that for you or no we don't. Why do I have to talk to one person who relates what I tell him to another person (the manager, I presume) only for that person to tell me he can't sell me what I want in that price range?

As you have probably already guessed, I spent my day at a dealership today. Even after doing some internet research and making some telephone calls, I came away with no car. I am a little disappointed, but I'll keep looking. This is a new experience because my immediate gratification self wants to spend the money on all the bells and whistles right now. But my delayed gratification self is trying very hard to be discplined and stick to the goal, which is reasonably priced transportation.

7 comments:

Canadian Saver said...

Oh I imagine it was a frustrating day yep!!! Good luck finding a reliable car within your budget :-) I feel I'll be following your footsteps soon enough........... I dread it though!

RacerX said...

Ouch!

Any chance you can find a $6k car...Just to get you through. Hate to see you take on more debt.

You are such a sweet mom, but maybe C2 can even help pay?

On the car side, don't forget YOU have the power, because you are spending the money!
Wishing you the best!

Sharon said...

Hi WEalthy1,
I've changed my http site and name. Test to see if you can get me.

Clean ClutterFree Simple said...

How about buying from a private party instead of a dealer? I've owned three cars and never bought from a dealer. You can get loans from your bank to buy a privately owned car. I always get a prospective car checked out by an independant (that is, not related financially to the person selling the car) mechanic; and I would do the same if I ever bought from a dealer (unless it was brand new, but I don't see that happening!:-)

good luck finding some good wheels!

Free From Broke said...

Not sure if you are searching for new or used but fool.com has a great guide for shopping for a new car. Part of the plan is to fax the exact specifics you want to different dealers and let them know you are interested in buying immediately. Check it out. It helped me out when I looked for my car.

Also make sure you know your credit score if you are financing at all. One of the ways the dealership makes up it's profit is on the financing. You may have a great score but if you don't know it and mention it they will charge you whatever they can.

I've also heard that getting a 2-3 year old car may be the best deal since you are buying the true value of the car. The new-car depreciation has already happened.

Becky @ FamilyandFinances said...

My only advice to is definitely take your time and get the right car for you. Don't let a salesman talk you into something that's not right for you!

Funny about Money said...

After many annoying experiences at car dealerships, I decided henceforth to buy cars only through a broker. The guy I deal with works through fleet dealers. I probably didn't get smokin' deals on the last two cars I've bought, but didn't get ripped off, either.

Racerx is right: absolutely, positively get the kid to AT LEAST chip in on the cost of the car. And while he's at it, he could maybe flip a few burgers to help pay for the breathtaking increase in your insurance premiums that will ensue after his latest mishap?