Is this a good deal for a pre owned car?
It's a 2014 Honda Accord LX, with 88k mileage, leather seats, it's white the people only want 2000 down & the payments will be about 350 a month & he said I can have liability or full coverage whatever I feel like getting? And also do you think if I ask to put like 1500-1800 down would it make a difference?
What currency are you working in? For how long would you be paying 350 per month? What's the APR for the deal? What's the car's condition and service history?
Yes good idea. I like all the Japanese cars. Just buy it from an older adult. Do not buy it from a kid that modified the engine or lowered the suspension, no hot rod performance parts.
Which is a sure sign of future problems.
Use Autotrader search across all states for the same vehicle, same mileage to get a good price average.
Kelly Blue book price is not accurate.
I been a professional auto mechanic for 30 years and now I author auto diagnostic articles.
Not nearly enough details to form an opinion. What people are you talking about? What's the APR?
First, this seller is an idiot. If you finance a car you MUST have full coverage. No exceptions. Second, 350 a month for how many months? At what interest rate? You need more knowledge if you're going to buy a car or you WILL get ripped off.
You determine if the car is well priced by looking at the COST OF THE CAR.
Not what your downpayment is or what the monthly payment is.
Once you determine if the car is being sold at a price you want, THEN you look at the terms of the loan. Are they a good deal or bad deal.
Good deal or bad deal is based on the price, not the down payment and monthly payment amounts.
If the price of the car is lower than the average price of other cars with similar age, mileage and condition then its a good deal. Then you can ask whether or not the financing is a good deal compared to other loan options.
88k miles is high for a 4 year old car, so I'd expect the price to be lower than other cars the same age. But that can be a good thing, high mileage probably indicates a lot of freeway driving and long trips, which are generally the best type of miles on a car, so sometimes you can get a great deal on a car that's a few years old with high mileage even though its really in just as good of overall condition as a lower mileage and higher priced car.
Bottom line is you have to look at the total purchase price, not just the monthly payment.
Also, any legit bank will REQUIRE full coverage insurance. So is the seller offering private financing? I'd steer clear of that, its a legal nightmare waiting to happen. Also, regardless of whether or not its required, you'd be downright foolish to finance a car without full coverage insurance.
What is the price of the Honda, Mary, prior to financing. You need to know that before determining whether or not it is a good deal.
Secondly, what is the interest rate and term of the loan? Depending on that bit of detail it could be a very good deal or a very bad deal.
NO. You can buy a new vehicle (with decent credit) for $0 down and less in monthly payments. Obviously you did not give enough details for anyone to make a decent decision. If you only have to make payments for two months and the vehicle is in good condition (which you did not mention either) it could be a good deal. If you have to pay for 72 months, it is more than a new vehicle.
- What is the most reliable car you've ever owned and how many miles did you put on it? Mine was Honda Passport with 250,000 miles bought brand new. Yeah I know it was rebadged Isuzu Rodeo but it was surprisingly reliable with no major problems.
- Dealer told me it was a Honda Certified pre-owned car, but I never received anything from Honda saying so? What should i do? The car now needs repairs and the dealer lied to me about the certification. Do I have any rights?
- If I buy a Certified Pro-owned Honda from a Toyota dealership, is it still CPO and under warranty? The CPO Honda warranty is for 1 year/12,000 miles from date of purchase, but I bought it from the Toyota "side" of the same dealership. Honda still has to honor the warranty, right?
- Has anyone owned or driven a Kia Niro? I have owned a Honda minivan for 17 years and I would like to know anyone's thoughts about the difference in handling and driving performance of the two cars. I do know the Honda has a great deal more horsepower than the Kia hybrid, but it seems like a much heavier car.