To be fair, this may turn into a rambling post with many topics needing coverage, bear with me.
So, If you have followed my previous post about installing a used transmission into my Avalanche, It sadly is showing signs of breaking down, but not yet, leaving myself stranded. It still starts, runs, and drives, but given it's done this for the 185k miles I have not had to put largely any money into it, like under 1k outside of consumables and one transmission. But I know the day is coming, as I hear different noises, feel different things while driving, etc, that don't instill confidence. Plus I don't have the work area currently to fix anything that breaks.
All that being said, I know I want a fun, somewhat DD, while I can work on the 21st century ElCo at my pace. I am not getting a Miata or the like, but here is what I am running into down here in FL, snowbirds. I have found some vehicles that I want to go look at it after searching, but when you dive deeper into the websites, the dealers are clearly stating "out of state" purchases, they will not honor, do, or "hold". I did look back at home, but there isn't the same selection available. yes, i also know, the market is a seller's market vs a buyer market. I'm ok with that.
With all that being said, do you just suck it up and do a national vendor like a Carmax/Carvana/Vroom or just find a dealer, like maybe an AutoNation, that will work with me? Or attempt to work a deal back at home, even though I do NOT have the time to even just stop, sign, and drive away?
FYI, I have better than 700 credit score, make "tons" of money, but no down payment because I'm paying down the CC that got abused purchasing said transmission and other things to maintain life.
What say ye ole GRM?
My next purchase is probably coming from Carvana. Ive been looking at a 370z to replace the G35.
I'd be tempted to buy something new on the lower priced side of the spectrum than something used at Carmax or the equivalent.
Maybe a nice Hyundai, Kia or Mazda
We used Vroom for my wife's 2017 i3. One of the worst buying experiences ever. Nice car.
FWIW, my brother bought within the last year using Carvana. He is super positive about the whole experience.
Go to carmax get what you want and their warranty and don't worry for a few years.
In reply to Ranger50 :
Sounds like your world could use some consistency and reliability. In this new world of over priced crap, I think I'd really recommend new.
A GRMer should be able to get you Ford Friends and Family plan. This will then keep the vultures from jacking you for stupid prices.
If they were available, I'd point you to a Ford Maverick but with that gone, I'd point to as stripped of a Ranger as you're willing to go. It sure seems that all trucks are gonna hold their resale value.
Take out the loan for the longest term allowed keeping the payment manageable and also leveraging that high resale.
"Cheap" buys at CarMax/Carvana will be $15k+ (up to $25k) and they could still have high miles. A new, no mileage Ranger could be $25k
In reply to John Welsh :
The maverick and ranger are not fun. Plus I'm not trading in anything.
In reply to Ranger50 :
Did I mis-read? I thought you were looking to replace the Avalanche.
In reply to John Welsh :
Only from the everyday daily driver status.
Seems like waiting a year might be a good idea given how empty car lots are.
In reply to bearmtnmartin (Forum Supporter) :
I don't have that luxury potentially cross crossing the country.
In reply to Ranger50 :
When are you going to stop needing transportation? I'll bet it's a lot of years from now. Start thinking long term.
I sold cars for a while. Always made a lot more on used cars then new cars. A lot, lot more. A typical commission for selling a new car was maybe $200. Commission on selling used was always over a couple thousand. Sometimes as much as $3-4,000 so that meant the dealership was making $ 10-12,000.
So that private party you're buying from is basing his pricing off what the dealership is selling those for.
Here's why paying less for a used car isn't a a good deal. Let's assume it has 50k miles on it. Expected life is say 200,000 so 1/4 it should sell for 3/4 of new cost. Except the first 50 k are covered by warranty which means no costs. That's a better deal than paying to fix worn out things out of your own pocket.
The higher the mileage the more neglected the car is the higher your cost per mile
Want to beat the system? Buy new, take care of it properly and drive it till it rots
In reply to frenchyd :
Again, factually incorrect. I've done the math multiple times on multiple vehicles. It is never cheaper to buy new.
I buy used work trucks for my company. I buy fleet trucks with 120k-150k miles on them for 15-25% of a new truck and run them until 300k-400k. Repairs never come close to the payments on a new truck.
The two Colorado trucks I just sold ended up costing about 2 cents per mile over their ownership for purchase and repairs. You will never approach those numbers with a new vehicle.
The only reason to buy a new vehicle is because you want one.
I only buy used.
I just stumbled into a Golf R to replace or temp replace my Tacoma since I cannot find a rear end housing for it locally and the shipment my buddy is expecting from AZ is going to take a while but New England winter is not. Salvage title so I could not get a real loan for it so I am going to hammer on a 8% personal loan that is 36 months. Fortunately I had not transmission issue so I only had to get $8k with some cash from my "car fund" to cover the rest.
With your credit score and a decent paycheck you should be fine from one of the major places.
I don't know about your neck of the woods, but I see slightly used cars going for more than used. I see 4 yr old cars that sold for $25k new with $30k asking prices. Not sure what crack heads are buying those. But that does flip the used vs new a bit when used cars are not depreciating.
GTwannaB said:I don't know about your neck of the woods, but I see slightly used cars going for more than used. I see 4 yr old cars that sold for $25k new with $30k asking prices. Not sure what crack heads are buying those. But that does flip the used vs new a bit when used cars are not depreciating.
Yea i sold my WRX to carvana last month for $1500 more than I paid for it new before tax...9000 miles and 9 months ago. At this point in time if you are looking at anything sub 5 years old, in this current market its cheaper to buy new most of the time. You can still get good deals on some new cars, I was able to get 7% under invoice for my Gladiator by ordering it through a high volume online dealer and playing the $100 to join Tread Lightly to get the extra 1% off of an FCA vehicle.
Most automakers are saying Q3-Q4 2022 at best before the new car inventory will start to get better which is massively raising the prices in the used market.
I would use Carmax or Autonation to at least be able to drive a bunch of different cars to see what you like.
So as a follow up for those wondering, I did the pre approval bs for carvana. It's either take it or F off. Everything I've been looking at requires a substantial down payment. Immediate no go with me.
I'm still looking.
My previous used car loan with PenFed was a wonderful experience. I learned of them here on GRM and they have been discussed a lot.
At the time of my purchase they had no age limits on how old the car could be and previously had no mileage limit. Others have now reported that they have a 125k mileage limit. This means the car can no have more than 125k at the time of purchase.
Their fine print says they will lend up to 125% of book value. This means you should be able to buy with nothing down.
https://www.penfed.org/auto/used-auto-loans
You don't have to be military or Pentagon affiliated. Every American qualifies.
Some previous GRM chatter
When we bought the used minivan a couple years back, I had a voucher (blank check) from PenFed for up to $25k.
If I wanted to use the check I just had to call PenFed and give them the VIN. Based on that VIN, they would run the book value and tell me how much of the $25k I could use on that specific vehicle.
I ultimately financed through the dealer but I used the PenFed as leverage to a better rate.
I've been super happy with all the Mazda's I've ever had.
Newer Mazda 3 (we currently have a 2018), even the auto is pretty good, and if you get the 2.5 it's a pretty nice little engine for street work. If it wasn't my lady's car now, I could easily see putting some different wheels and maybe 1" lowering springs on it.
I'm in negotiations.....
And bought.... oy vey. 
Congrats! I don't think I'd have the necessary restraint to daily that kind of hp...
In reply to secretariata (Forum Supporter) :
It's only 460hp.... weaksauce. Lol.
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