Kind of screwed myself here (car buying)

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R1V3R5

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Well, I've been shopping for a newer car for quite a while now. However, I was having trouble finding a car with low miles on it, that was newer (2003+), and still within my budget. Not only that, but I have credit problems and had troubles getting financed. When I could find a good deal on a car I like, I could not get financed. And the places that are offering to finance me have cars that don't appeal to me and have too many miles. It's hard to justify a big car payment and increased insurance rates for a car I don't want.

That brings me to today. I went car shopping again (as it's all I do besides work now) and ended up at a dealer I had visited weeks ago. They said they could go and find me any car I wanted at an auction if I just gave them the details. And while I never talked to them about financing, I'm almost positive they could finance me as they are a fairly large dealer. It also helps that their mortal enemy is the dealer across the street, a dealer who already agreed to finance me.

So, I go in looking for the previous salesman who said he could find me the car I wanted but he isn't there. I happen to start talking to another salesman there who I go to college with and explain how the other salesman offered to find me a car. I tell him the make and model I'm interested in and who goes to talk to their buyer. He comes back and tells me it might hard to find that car right now at that price but they could try. I tell him I saw exactly what I want at a dealer about 2 hours away but they couldn't finance me and I'd be very happy if they could find me a car similar. I'd even make sacrifices, I don't need leather seats or traction control, etc.

The salesman goes on to ask more about that car and where the dealer was. I tell him it doesn't matter as they can't finance me anyway. He ask me the condition of the car and if test drove it. I told him it appeared to be mint and brought my buddy (a mechanic) to check it out. We both test drove it and it seemed to be in very nice shape and well worth the asking price, which was below blue book. To my surprise, the dealership drove 2 hours away and bought that car for me. They even offered to give me $500 more for my trade than any other local dealer. Tomorrow, I'm supposed to sign the paperwork and pick the car up.

However, tonight I'm thinking about what a good deal the car was. And how cool it was that the local dealership went and bought that car for me. It's all to good to be true. Then it hits me... I never ran a carfax on that car because I didn't think, realistically, that I was going to buy that particular car. So, tonight I run the VIN and I get "12-04-2005 Front Impact with Another Vehicle." I almost had a heart attack. A front impact! And this is the car I'm supposed to pick up tomorrow!

Right now I'm trying to calm down. Maybe it's not so bad, maybe the impact was very small. Since it was december, perhaps the driver just slid in to someone and there was just a little damage to the front bumper. There didn't appear to be any work done to the front end when my buddy and I inspected the car. The reporting agency to carfax was the local police department so perhaps it was minor but the police still responded to file a report? Carfax does not show any damage to the frame and it's a clean title. Not only that, but the car is still under its original warranty from the manufacturer.

So, what the hell do I do? I'm supposed to get the car tomorrow. They even went and got the car specifically for me. I'm sure I could go check out the car again and look extra hard to for any signs of front end damage. Although I'm sure we would have seen it when we initially inspected the car. Any help? I'm freaking out!
 
If there was anything significantly wrong with it, don't you think your mechanic friend would have noticed it?

That said, given the car's history and that this seems like a "too good to be true" kind of situation, I wouldn't go for it. If you haven't signed the paperwork yet (if I read that correctly), I'd definitely ask about it when you go back tomorrow night, and see what they say.
 
If you haven't signed anything, you can say no.

I find that that tends to work.

If you are not bound by paperwork, then you are bound by balls. Grow 'em. :)

All that aside, you have a valid reason not to take the car. Have your mechanic friend look over e car with the crash in mind and discuss it with him. If either of you have your doubts, end the deal.

You'll only be screwed if you let yourself be screwed, but look the car over, crash or no crash, cars are built to survive a harsh environment, ascertain whether or not it'll be a unrepairable liability later down the road and make the call.

~HotShotX
 
[quote name='Gothic Walrus']If there was anything significantly wrong with it, don't you think your mechanic friend would have noticed it?

That said, given the car's history and that this seems like a "too good to be true" kind of situation, I wouldn't go for it. If you haven't signed the paperwork yet (if I read that correctly), I'd definitely ask about it when you go back tomorrow night, and see what they say.[/QUOTE]


Yeah, you would think him or I would have noticed it but the car is flawless inside and out. Plus, it drove perfect. Also, while it's below blue book, it's not crazy cheap. And, no, I haven't signed any paperwork yet.
 
what is it exactly? depending on the type it may make a difference, a dealer or good indy inspection may be useful.
was it always registered in the state you live in or are buying the car now?
if not STAY AWAY.
 
Well, you haven't signed anything. If you don't want it, don't go, call, and apologize.

Sidebar, here in Las Vegas, there are commercials that say "If we can't get you financed, we'll give you a car."

I always wondered how that worked. :whistle2:k
 
[quote name='chasemurata']Well, you haven't signed anything. If you don't want it, don't go, call, and apologize.

Sidebar, here in Las Vegas, there are commercials that say "If we can't get you financed, we'll give you a car."

I always wondered how that worked. :whistle2:k[/QUOTE]

insane rates and very high downpayments req.
 
How exactly have you "kind of screwed yourself" when you haven't even signed papers for the car? You have no obligation to buy it at all, especially since you ran a carfax and found out this information. Turn down the deal.
 
You have no obligation to buy it. It will probably piss off the dealer, but if you never had an official agreement with them, I don't think they can do anything.

P.S.

Don't finance any car. If you don't have any money, you shouldn't be spending more than $4000-5000 tops for any vehicle.

I recommend you work a little overtime, or start tossing pizzas on weekends to save up a few thousand bucks. Then swallow your pride and get something for under $5k.

I've been driving a 1994 escort for almost 9 years now. I paid $3000 cash for it back in the day, and the only thing I've had to fix since I bought it is the air conditioning and a single flat tire. The car isnt glamorous, but it feels awesome not to have any car payment.
 
[quote name='Capitalizt']Don't finance any car. If you don't have any money, you shouldn't be spending more than $4000-5000 tops for any vehicle.[/quote]

QFT. I bought a car brand new 5 years ago and just finished paying it off. Biggest mistake I've ever made in my life and it was ENTIRELY my fault. I got caught up in the moment and wanted this car and only this car even though they had a used model that was only a year old, would cost $100 less a month (That was $6000 less total), and they offered to paint it the same friggin color. Seriously, if I had a time machine, the only time I would've used it was to go back to that day and kick myself in the balls before I signed up for 5 years of hell (Well, maybe I'd go and play the powerball too).

But more on topic. You should definitely take your buddy back and let him have a second look. Front impact can mean a lot of things, including stopping to slowly and bumping the guy in front of you, only to have him complain of whip lash which forces you to file a police report and claim. So, while that most likely could be the case because your friend didn't notice any work done, it doesn't hurt to have a second look.
 
Well, I haven't had a car payment in years but my current car is beyond repair and I need a replacement right now. Did I mention that my college and job are each 25 miles away? Because I drive that daily and I need a vehicle very soon to replace my dead one. It would be cool to save up and not have a car payment, but I need a vehicle right now for work/school.

I'm at least going to go look at the vehicle again. This time with the knowledge of the "front impact" and look for any signs of damage, including bad fitting body panels, welds, etc. Like I said, I haven't signed shit, so I'm under no obligation.
 
not having a car payment is nice. i miss it. but everytime i get into my car its worth it.

another thing to consider is safety. cars have come a long way over the past 8 years even.
and was a major point in replacing my older car.

look for different welding around the motor mounts and the frame theyre attached too.

good luck
 
Carfax does not show any damage to the frame and it's a clean title.
Click to expand...

Judging by this i'd say it's fine. I've owned cars with salvage titles that looked as if they'd never been wrecked. The title's clean, the car looks fine, i wouldn't worry. I'd also feel pretty bad (personally) if they bought the car i acted so interested in and i flaked.

BTW, carfax is pretty worthless, there can be all sorts of damage that was never reported.

YMMV
 
[quote name='Nikadimas']QFT. I bought a car brand new 5 years ago and just finished paying it off. Biggest mistake I've ever made in my life and it was ENTIRELY my fault. I got caught up in the moment and wanted this car and only this car even though they had a used model that was only a year old, would cost $100 less a month (That was $6000 less total), and they offered to paint it the same friggin color. Seriously, if I had a time machine, the only time I would've used it was to go back to that day and kick myself in the balls before I signed up for 5 years of hell (Well, maybe I'd go and play the powerball too).
[/quote]
What he said. I just finished a 60 month loan (almost 60; paid it off early), and I've vowed to never do that again. I won't go so far as to say I'll never finance another car, but I'll certainly keep it to 36 or less. I'll more likely pay cash for any future purchases.

I couldn't believe it when I read a while back that most loans these days are running 72-84 months. Who the fuck wants to be paying on the same car for that long?
 
[quote name='paz9x']not having a car payment is nice. i miss it. but everytime i get into my car its worth it.
[/QUOTE]

Yeah, I feel the same having bought a 2008 Mazda 3 in November when my 1999 Subaru Impreza was falling apart.

I don't like having a car payment, but I can afford it pretty easilly so I don't mind it that much. And I love the car so it's worth it to me.

So I wouldn't tell someone to never finance a car, I'd just say to be smart about it and get a monthly payment you can afford pretty easily. Of course having a stable job and/or education/experience that you can always find a good job quickly if something happens is always a prerequisite for taking out any kind of loan.

[quote name='JDN169']I've owned cars with salvage titles that looked as if they'd never been wrecked.
[/QUOTE]


Yep, for instance my girlfriend Salvaged her old car last year when it was totalled. It didn't have much damage, just front bumper replaced. It got totalled because it was old and both airbags deployed and the cost of those led the adjuster to total it. But it was an easy repair and is good as new, and she still has it as a second car that her and her brother/his family share now that she has a newer car.
 
Front impact damage can mean a lot of things, my ex hit a deer dead on and totaled her Jetta. The hood was messed up, and one headlight was gone but the car while no longer street legal it could still drive.

Anyhow if you trust your friend I'd say go for it, but make sure to hit the dealership up for records on who and where it repaired and see if they'll knock a bit more of the price.
 
If your school and job are each 25 miles away, fix that first. Move closer to school and then find a job near there.

Also, as others have said, don't finance.

I don't think the impact history really matters at all, so long as it's been well repaired.
 
[quote name='dmaul1114']

So I wouldn't tell someone to never finance a car, I'd just say to be smart about it and get a monthly payment you can afford pretty easily. Of course having a stable job and/or education/experience that you can always find a good job quickly if something happens is always a prerequisite for taking out any kind of loan.[/quote]

This. Try to get a good financing deal if you have to finance. Not everyone has $20,000 just sitting around in cash.
My current car is on a 1% deal, so thats pretty minimal
 
[quote name='Pookymeister']This. Try to get a good financing deal if you have to finance. Not everyone has $20,000 just sitting around in cash.
My current car is on a 1% deal, so thats pretty minimal[/QUOTE]

Exactly. And not everyone wants to pench pennies and drive a cheap used car. And not everyone wants to live near work or school etc., especially if the work/go to school in a city. That lifestyle isn't for everyone, and for many a 20-30 mile commute to have a better quality of life is fine trade off.

There's nothign wrong with financing a car, having a bit of a commute etc. The key is to live with in your financial means and do what makes you happiest with in those means.
 
There IS something wrong with financing a car if you are broke as hell..

Newer cars are a terrible investment. Most new cars lose 60% of their value in the first four years of being driven...In other words, they are a TERRIBLE investment. You are stuck paying a high payment for something going down down down in value..

At the very least, buy something 3 years old. Let someone else take the major depreciation hit on it.
 
[quote name='Capitalizt']There IS something wrong with financing a car if you are broke as hell..

Newer cars are a terrible investment. Most new cars lose 60% of their value in the first four years of being driven...In other words, they are a TERRIBLE investment. You are stuck paying a high payment for something going down down down in value..
[/quote]

There is something wrong with buying almost anything if you are broke as hell.
I wouldn't call not having $20K available in cash 'broke as hell'.
Cars obviously aren't an investment but for alot of people they are a necessity. Not everything you buy goes up in value.


Back on topic, has the OP made a decision yet? =]
 
[quote name='Capitalizt']There IS something wrong with financing a car if you are broke as hell..

Newer cars are a terrible investment. Most new cars lose 60% of their value in the first four years of being driven...In other words, they are a TERRIBLE investment. You are stuck paying a high payment for something going down down down in value..

At the very least, buy something 3 years old. Let someone else take the major depreciation hit on it.[/QUOTE]

It's a 2004. I don't think it's practical to buy a new car in most cases.
 
Front impact with another vehicle could be very minor where only a bumper cover was replaced. If it was a front impact with airbag deployed, then you know they were in a hard collision that could have done serious damage (including bending the frame).

If you want to back out of the deal, you will be ok unless you signed something like an intent to purchase form or an agreement of the numbers. Some dealers will hold you to the agreement or make you pay a fee (usually 15% of agreed purchase price) for backing out.
 
[quote name='Capitalizt']There IS something wrong with financing a car if you are broke as hell..[/quote]

Of course. That's why I said repeatedly that the crucial thing is to live within your means.

Newer cars are a terrible investment. Most new cars lose 60% of their value in the first four years of being driven...In other words, they are a TERRIBLE investment. You are stuck paying a high payment for something going down down down in value..

At the very least, buy something 3 years old. Let someone else take the major depreciation hit on it.
Click to expand...

That's true, but I don't buy my cars as an investment. I buy them as I drive a lot and I like to have something fairly nice to drive around in. I'm not a car buff, so I don't buy pricey cars, but my last two cars were new and I'll probably never buy a used car. I don't have a master's degree, and soon a Ph D, to be a cheap ass and drive around in used cars.

That said, everyone has their own things they like to spend money on, and those that they don't like to and there's nothing wrong with saving money by buying used cars if that's your thing.

I'm not a penny pincher. I love my work, so I don't care at all about retiring early etc. I don't live paycheck to paycheck either, but I like to have a nice balance of living for the present and enjoying some luxuries and saving for the future.

From your user name, you're probably the type to pinch every penny and try to make money at every turn, so we aren't going to agree here as we have different approaches to life.
 
[quote name='greyzieoriental']what kinda car is it? and for how much?[/QUOTE]


2004 Mitsubishi Eclipse GTS w/ 46,000 miles for $11,900.

6781595951.242724879.IM1.MAIN.565x421_A.562x421.jpg


Because it's a GTS, it has every option (leather, sunroof, traction control, etc.) and still has the remainder of it's 5 year/60,000 mile warranty from Mitsu USA.
 
Something ain't right here. That car retails for like 17 or 18 grand. I find it hard to believe they're selling it for that low. I mean, sure, the warranty is there, but it still sounds weird.
 
[quote name='Trakan']Something ain't right here. That car retails for like 17 or 18 grand. I find it hard to believe they're selling it for that low. I mean, sure, the warranty is there, but it still sounds weird.[/quote]

I second that.
 
[quote name='greyzieoriental']i wonder what will be higher your car payment or your insurance?[/QUOTE]


I'm an old man, good clean record. My car payment would be $250 month and my insurance (full coverage because of the lien) would be $112 a month. Now, that car has been at that same dealer in the middle of nowhere for months, hence the picture of it with snow on the ground. The dealer started it at $13,500 but it still hasn't sold. I looked for signs of damage because of the front impact and I do see a little overspray from painting the front bumper. It appears it was replaced or repainted but nothing else looks wrong. All the engine components look good and there are no signs of any damage to the engine bay. And, yeah, that car's bluebook retail is $17,500 but the trade-in value is only $12,500.
 
[quote name='Trakan']Something ain't right here. That car retails for like 17 or 18 grand. I find it hard to believe they're selling it for that low. I mean, sure, the warranty is there, but it still sounds weird.[/QUOTE]

Carfax said front-collision, so I'm assuming frame damage.
 
[quote name='Trakan']Something ain't right here. That car retails for like 17 or 18 grand. I find it hard to believe they're selling it for that low. I mean, sure, the warranty is there, but it still sounds weird.[/QUOTE]

QFT.

For what it's worth, Kelly Blue Book has that model year around the $17,790 range in terms of used pricing from a dealer. Granted, the area you're buying it at, the complete set of options, transmission, etc. will have an effect on the exact amount, but there's no way they'd be willing to let that go for under 12K unless there's something they aren't being honest about (accident related or otherwise).

I'd be extremely cautious about purchasing this vehicle.
 
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