suv for sale under 5000
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Q: Help me make a car purchasing decision (long question)?
In this economic climate I’m not eager to take on a new debt (my only current debt is a student loan), but my 01 Civic is reaching a point that I’ve realized I probably should bite the bullet. My car (black 2001, mid trim model with 64K) has been having transmission issues for the past few years and it’s now apparent my torque converter is going. After researching the likely problem, I’m finding that a lot of 01 or 02 Civics have transmission problems and that replacing the torque converter, or even replacing the whole transmission doesn’t always solve the problem. Plus, she’s looking a little beat up and I would love to have key-less entry and some other basic options. But I don’t know what to get.
I want something that’s a good value, reliable, safe, and has a sunroof. I know that last one isn’t a feature that makes financial sense, but I work freakin hard for my money, live in the sunshine state, and spend enough time in my car that I really think I deserve this. I’ve looked at a lot but have focused on the Honda CRV, Toyota Rav4, and Mitsubishi Outlander. I want a small SUV so that I can sit up higher in traffic (and would only purchase another sedan if it was ridicuously cheap…with they’re not). I like the look of a Highlander or the older model Honda Pilots and I’m not averse to buying used, but I really don’t know what I can do.
As for price, I really need to keep it under $300/month. I’ve got excellent credit and can qualify for a credit union loan as low as 3.1%. However, this is for a new loan at a teaser rate, so depending on my timing and what I buy, it could be as high as 4.5%. I can afford more than $300, but I don’t want to be one of those people who spends so much and I realistically want to keep my monthly payment at $275. Every dollar above that makes me feel like I’m spending too much. I’ve calculated the blue book on my 01 Civic and I know I could make more in a private sale, but I’ve never done that and I’m worried about getting scammed. Also, I’m an extrodinarily busy teacher and don’t think I have the time. In a perfect world for a trade in I could get $6500 for my baby, but with her cosmetic scratches and dings, some engine work needed, plus the fact that she’s been in two accidents (no major damage, but accidents just the same) I am telling myself I will only get $5000.
All of the car matching profiles (CarZen, etc) say that my ideal car is the CRV or the Rav 4. However with the price I want to pay, I can’t afford new versions of those with the moonroof option. And I would have bought used by now but I’m seeing new listed at $25k with used and 35,000 miles being listed at $24,700. I know there is room for negotiation, but I’m also scared of getting something used with the risk for issues later in its life. I mean, I bought a Honda new thinking it would never have issues on me, but the dang thing started shuddering at 45K. If I was to buy used, I wouldn’t even consider it unless it was certified and had some type of warrenty remaining.
So my questions are this:
Should I try to negotiate a new Honda or Toyota at my max price range without the sunroof?
Should I try to buy a cheaper vehicle (Suzuki, Mazda, etc) new b/c they have a cheaper price and a longer warrenty?
Should I buy a used? Obviously I know this would save me more, but the worry factor for me is huge. I’m willing to pay a little more for peace of mind, but I don’t want to be stupid. If I buy used, what realistically would $275 a month + $5000 down get me?
A: I would get off the Honda/Toyota high horse. You see what happened to your current indestructable, holier-than-thou ricewagon.
The Chevy Equinox is as good as any and may fit your requirements at a lower price. Other than that I’d look hard at negotiating. Dealers are hurting I’m sure you know and you should be able to get 2-3k off sticker easy. Look at the papers religiously as well. Most of the time a good sale will beat any negotiating you can do. It’s all in timing.
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