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Car decisions
I always come here for advice, so I figured might as well get some insight here.
So for those that haven't seen my earlier threads about coming into the real world, I just graduated college, have a pretty good job, and now no debt outside of college loans. I was driving a 95 mazda around happily and got into an accident. The car is not worth the repair cost to me, so I am now on the car hunt. I have a couple of options available in my mind. Keep in mind that I do not want a car with more than 40k or so miles on it as I'm kind of done dealing with beaters. So I've narrowed my decision down to either:
1) Buying a used civic/scion/toyota in the 10-15k range and getting outside financing
2) Buying a new civic/scion/toyota in the 15-20k range and either
a) getting outside financing
b) utilizing recent graduate rebates and offers and such with in house financing
My real question is whether or not there are deals for new grads financing used cars, whether or not traditional lenders do new grad loan programs, and which would be the best route to go. For example:
Scion offers a $1000 rebate for any new purchase and gives well-qualified buyer rates to recent college grads, on a 18k 2012 scion tc (according to truecar.com). Honda offers .9% APR for certain NEW cars(I couldn't find anything about used), and new civic would run about 15k, and the absolute best I could really see doing on a used auto loan through outside financing is around 3%. I don't know what exactly would be my best route, considering I do see some value in the new car vs used. Thanks in advance for any help!
So for those that haven't seen my earlier threads about coming into the real world, I just graduated college, have a pretty good job, and now no debt outside of college loans. I was driving a 95 mazda around happily and got into an accident. The car is not worth the repair cost to me, so I am now on the car hunt. I have a couple of options available in my mind. Keep in mind that I do not want a car with more than 40k or so miles on it as I'm kind of done dealing with beaters. So I've narrowed my decision down to either:
1) Buying a used civic/scion/toyota in the 10-15k range and getting outside financing
2) Buying a new civic/scion/toyota in the 15-20k range and either
a) getting outside financing
b) utilizing recent graduate rebates and offers and such with in house financing
My real question is whether or not there are deals for new grads financing used cars, whether or not traditional lenders do new grad loan programs, and which would be the best route to go. For example:
Scion offers a $1000 rebate for any new purchase and gives well-qualified buyer rates to recent college grads, on a 18k 2012 scion tc (according to truecar.com). Honda offers .9% APR for certain NEW cars(I couldn't find anything about used), and new civic would run about 15k, and the absolute best I could really see doing on a used auto loan through outside financing is around 3%. I don't know what exactly would be my best route, considering I do see some value in the new car vs used. Thanks in advance for any help!
