Buying my first car

[maddogchen]

Buying my first car soon.

After I find an internet sales manager that will match the price I want, what do I need to bring with me?
Do I just bring my checkbook and write them a check?
Can I put part of it on my credit card and get rewards points?
Do I need car insurance set up already or can I drive home with the new car and then buy car insurance?
What should I do for to break-in my car?
How should I wax the car to preserve the paint and shine? It will be a black car.

Thanks!

edit: I won't be financing the car, I have the cash to pay for it.

edit 2: Bought the car! Civic LX. See further down for pics.

Put $1000 deposit on the car on my credit card. Got my insurance, went and picked up my car and wrote a check for the rest of the car. Breaking in the car by varying various speeds. Not accelerating too hard. Not braking too hard. What the manual says to do.

Washed and waxed the car today. Drove it to get gas and came back with a layer of pollen on the car...damnit.

Thanks!

 

[angry hampster]

WTF? You have cash in hand to pay for a NEW car? ...and it's your first car?

 

[maddogchen]

yeah, i've been driving my dad's car since he used to work in asia. Now that he's back in the US, he wants his car back.

 

[alphatarget1]

money.

If you can get a 0% financing deal why not finance it? Stick your money in a CD and collect interest.

 

[Bignate603]

If you can pay it off immediately and have a card that gives you rewards points there's no reason not to put it on the card. You may want to call the company that issued you your card though and warn them that you're going to buy a car. Otherwise they may freak out and try to stop the purchase because they'll think the card has been stolen.

After you know what the vehicle is and when you're picking it up contact your insurance company and take out insurance. If it will be a few days until you'll pick up the car you can have them make the insurance start the day you're planning to get it.

 

[Bignate603]

Originally posted by: alphatarget1
money.

If you can get a 0% financing deal why not finance it? Stick your money in a CD and collect interest.

Depends, sometimes it's 0% financing or cashback. If he's got the money now I'd take the cashback..

 

[maddogchen]

Originally posted by: Bignate603

Originally posted by: alphatarget1
money.

If you can get a 0% financing deal why not finance it? Stick your money in a CD and collect interest.

Depends, sometimes it's 0% financing or cashback. If he's got the money now I'd take the cashback..

The two types of car types i'm looking at are not offering 0% financing incentives right now

 

[zerocool84]

Originally posted by: maddogchen

Originally posted by: Bignate603

Originally posted by: alphatarget1
money.

If you can get a 0% financing deal why not finance it? Stick your money in a CD and collect interest.

Depends, sometimes it's 0% financing or cashback. If he's got the money now I'd take the cashback..

The two types of car types i'm looking at are not offering 0% financing incentives right now

What cars???

 

[JDub02]

Yes, you need insurance already. Get the VIN from the car you're buying and call an insurance company to start a policy (assuming you don't have one since this is your first car). They can fax you insurance cards.

Take that to the dealer with your checkbook. Write them a check and sign a bunch of papers. Leave with your car.

 

[bruceb]

Most credit cards will not be able to take the full cost of a car. And most dealers will not take a personal check or they will wait for it to clear if they do. But you can put a downpayment of a few hundred or one / two thousand on most credit cards with no problems. I also agree, depending on incentives and which way gives you lowest out the door cost, as to taking cash back or 0% financing. 0% is great if the price is still very good and as stated, your cash can earn some interest over the 5 year loan period.

 

[Vetterin]

Originally posted by: zerocool84

What cars???

Yeah, clue us in!

 

[maddogchen]

Originally posted by: Vetterin

Originally posted by: zerocool84

What cars???

Yeah, clue us in!

I'm getting a Honda Civic LX sedan automatic and if not maybe a Toyota Corolla. Both are only offerring 2.9% financing for 36 months. The 2009 mazda 3 is offering 0%, but I don't quite like it. Gonna see if there is a 2010 Mazda 3 this weekend and if they will go below MSRP since its so new. if not I'm gonna get a Civic.

 

[maddogchen]

Originally posted by: JDub02
Yes, you need insurance already. Get the VIN from the car you're buying and call an insurance company to start a policy (assuming you don't have one since this is your first car). They can fax you insurance cards.

Take that to the dealer with your checkbook. Write them a check and sign a bunch of papers. Leave with your car.

I see, alright, I'll get cracking on finding insurance now. Thanks.

 

[Mermaidman]

Originally posted by: maddogchen
Buying my first car soon.

After I find an internet sales manager that will match the price I want, what do I need to bring with me?
Do I just bring my checkbook and write them a check?
Can I put part of it on my credit card and get rewards points?
Do I need car insurance set up already or can I drive home with the new car and then buy car insurance?
What should I do for to break-in my car?
How should I wax the car to preserve the paint and shine? It will be a black car.

Thanks!

edit: I won't be financing the car, I have the cash to pay for it.

Dealers will not accept a credit card for a large amount because of the CC fees they'd pay. I've been able to charge $2K to $4K at a dealer.

You should call your insurance agent ahead of time and confirm that you have coverage (like from your existing policy). Murphy's Law can strike anytime and you'd kiss your money goodbye. Besides, you'd then find out how much it costs to insure your new car.

If there's anything missing from the car or if the car needs some minor repair, make sure you get a promise in writing before signing the purchase contract. Yes, even for a "new" car.

Bring an experienced friend or relative with you. It never hurts to have another set of eyes scanning the paperwork and car. Since you're paying cash, it's much easier to decipher the actual cost of the car. But if you were trading an old car and/or financing through the dealer, the real cost could be disguised. Still--be prepared to see "administrative," "doc" fees, or other mark-ups that were not included in your internet quote.

As far as breaking in a car, I think the only thing is to avoid street racing for the first thousand or so miles

 

[Capt Caveman]

Yes, you'll need insurance first. Your insurance agent will need to provide you with an insurance rider so that you can register the vehicle.

 

[ayabe]

If you already have a policy you can call them at the dealer after you've decided to buy the car and they can fax whatever the dealer needs over very quickly.

This was about a 5 minute process when I bought my last car.

 

[drum]

Originally posted by: ayabe
If you already have a policy you can call them at the dealer after you've decided to buy the car and they can fax whatever the dealer needs over very quickly.

This was about a 5 minute process when I bought my last car.

Yep, I called my company on the spot and added it to my policy.

 

[zerocool84]

When I bought my car new, they had temporary insurance that was only for a week. I bought my car new through Carmax so I don't know if that's how it is through all dealers but that's how it was through them.

 

[pstylesss]

Originally posted by: alphatarget1
money.

If you can get a 0% financing deal why not finance it? Stick your money in a CD and collect interest.

No, that's dumb, too much risk. Never invest money in a depreciating asset.

 

[Pollock]

Originally posted by: maddogchen

Originally posted by: Vetterin

Originally posted by: zerocool84

What cars???

Yeah, clue us in!

I'm getting a Honda Civic LX sedan automatic and if not maybe a Toyota Corolla. Both are only offerring 2.9% financing for 36 months. The 2009 mazda 3 is offering 0%, but I don't quite like it. Gonna see if there is a 2010 Mazda 3 this weekend and if they will go below MSRP since its so new. if not I'm gonna get a Civic.

What did you think of the 2010 Mazda 3/were they willing to deal? I'm also in the market for a similar car, but I'm having trouble deciding which one is the best bet.

 

[rh71]

- paying in full is win unless a savings account / CD will get you higher rates than the finance rates. At this point, it's really close. When I bought, finance rates were near 6% and savings were 4%... wasn't worth it then to finance if I had the cash.

- internet sales.. use internet sites like cars.com and it will send out a quote request from multiple dealers in 1 shot. Pit the lower prices against each other. In the very end, after 2 rounds of negotiations, my guy went $100 lower than the other... they know you're ready to go so they will give you a better deal just to have you buy from them for sure. Instant $100 savings right there. The recession hadn't even hit at that point.

- after you settle on who to buy from, you put down a deposit - this can be with a credit card.

- my car had to be built but even if you're buying one from the lot, they need a day to prep. While they're prepping your car for delivery, this is when you want to make sure insurance is setup and you tell them the delivery date so they know when it should be active. Also at this point you want to get your bank check ready - verify final amount with the dealer.

- it was good advice above where you should inspect every inch of your new car at delivery and make sure every instrument works as it should. Only then do you sign the paperwork. You'd be surprised how many new cars have dead batteries. I was able to drive it around the block too (they had to put on temp dealer plates)... then I signed.

- during break-in, it's best to vary your RPM - so long stretches of highway are not the best solution. And don't red-line it either.

If you want tips on how not to get scammed by the dealer.... http://www.carbuyingtips.com

Congrats on your first new car.

 

[vshah]

read the manual! its amazing how many useful tips and tricks those car makers hide in there congrats btw

 

[maddogchen]

Well I bought my car last week. Just washed it, did some detailing and waxed it this morning.

Here is a Picture!







Just joking....thats some random person's car.

Here's Mine
another pic

So I test drove the Corolla LE and turned on the music and the driver door started rattling. Everyone in the cabin could hear it on going 65 on the highway everytime the music came to some heavy bass sound. Turned me off to the car. Plus the interior was very bland for my taste. And going into a corner, I felt the car was wobbly. I felt like I was sitting high in the car and felt like the car would fall on its side. It accelerated poorly too.

Test drove the civic next and I really liked the driver's console. I liked how I could see how fast I was going while keeping my eyes on the road. The only thing I didn't like was the parking brake that just juts out and the weird upside down inside door handles. The test drive was great, I liked how it drove. Going into corners it felt low and hugged the ground.

Test drove the Mazda 3 2010. They were not giving any financial options or discounts on it. No 2000 cash back, 0% apr, nothing. I drove a 2.0 ltr one with bose stereo system and sunroof. The sound system did not impress me. I did not like the center dash with the little lcd screen that showed me which radio station i was on. I guess thats where the navi would go. I felt the inside was a bit more cramped than the civic. And on my little test drive, I didn't see anything that stood out between it and the civic.

So I decided to get a Civic LX. With my 50 mile a day commute, its got me 32 mpg on my first tank. I'm pretty happy.

$16400 plus TTL. Paid for it all in cash. Biggest check i've written in my life. Plus 980 a year for insurance.

 

[ballmode]

keys

 

[BlahBlahYouToo]

Originally posted by: maddogchen
Buying my first car soon.

After I find an internet sales manager that will match the price I want, what do I need to bring with me?
Do I just bring my checkbook and write them a check?
Can I put part of it on my credit card and get rewards points?
Do I need car insurance set up already or can I drive home with the new car and then buy car insurance?
What should I do for to break-in my car?
How should I wax the car to preserve the paint and shine? It will be a black car.

Thanks!

edit: I won't be financing the car, I have the cash to pay for it.

cashiers check only (or cash).
dealers will take up to x amount charged to cc (mine did about $5k).
u need insurance - get the VIN from the dealer before you pickup the car, ins co will fax you a temp ins card.
there really are no break in rules. obviously don't redline it in every gear, but you don't have to baby it either. if still paranoid, RTFM.

whoops, didn't see you already purchased. congrats.