Quote:
Originally posted by Jesus Pimp
Thanks for the advice! Here are some more questions..
How much down payment should I try to have? Does it vary place to place? Always finance? Never pay it in full? What's the difference between financing and leasing? Which is better?
I think for my first car I'm looking to spend 8-12k max. I'm looking for a non-american fuel efficient car probably Japanese or German. What do you recommend?
Would a used car with low milage be better for my first car?
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Finance: I don't like leasing. You pay a crapload of money for 2-3 years while enduring mileage requirements (usually you're only allowed to drive 12-15k per year, and if you go over you're hit with penalties) and at the end of it you still don't own a friggin' car! I'd rather direct those monthly payments toward something that I will get to keep when I'm finished paying for it. Financing just means getting a loan - you can finance a leased or a purchased vehicle. You will have to finance unless you have all the money for the vehicle saved up already.
"Would a used car. . . be better?"
YES! for 12k you could get a VERY nice used car (Acura Integra/Legend/maybe even a TL or comparable cars (see
http://autos.yahoo.com/consumerrepor...src=autos/eyak) ). For the same price in a new car.. . you might be able to get a barebones Tacoma with absolutely no options whatsoever.