Ryan4VT 4,557 Report Share Posted September 27, 2011 Alright, so my poor Mustang has just about had it. She's got 235,000 miles on her, and I've put 95,000 on it since I got it in April of '08. It has multiple small to meduim problems. Nothing too major, but enough that I want to get a new car for several reasons. Gas milage being a big one. It only gets between 14-16 mpg when I drive to and from work in Grundy. With that being said, I'm looking at a 2011 Kia Soul. And I understand my interest rate is gonna be high, so here is my main question? Will a trade in of my car be sufficent for a down payment?? I've never really did this, and its kinda exciting yet scary at the same time. What can I expect? lol Quote Link to comment Share on other sites More sharing options...
trublue 939 Report Share Posted September 27, 2011 Do NOT trade in your car. Go to Kelly Blue Book and see what it's worth and sell it independently from your new car purchase. That's the advice of most experts. (You may get enough for a down pymt. ...but you do have a high mileage car... KBB will approximate on how much it's worth.) Now go to Edmunds.com and you can see exactly what a dealer has in a new vehicle, hold back, dest. chg. and any options you want on your new ride. Do all of your research before talking to a salesperson. Actually, most dealers have internet sales...just get salesperson's name and call them up ( that's what I did a few months ago, handled all over phone and finalized pricing before meeting the salesperson.) Best time to buy a new car is last day of the month... Quote Link to comment Share on other sites More sharing options...
GMan 3,569 Report Share Posted September 27, 2011 Best time to buy a new car is last day of the month... And buy a 2011 model, if there is one available, as the 2012 are coming out now and the dealers are looking to clear the "old" models off the lot... Quote Link to comment Share on other sites More sharing options...
EH31 2,518 Report Share Posted September 28, 2011 I bought a 2011 Kia Rio from Cole Kia on the last day of March. I traded in as 99 Chevy blazer with 200 k miles n had limited credit and they "gave" me 4500 trade but I didn't have to pay a down payment at all. Quote Link to comment Share on other sites More sharing options...
blufan04 12 Report Share Posted September 28, 2011 Also before you get to the car lot check with your insurance company for a quote on the car that you are interested in and apply for car loans from different banks and then go with the one that offers you the lowest interest rate. Chances are it may be lower than what the dealership will offer you otherwise go with the dealership. Deal on terms of price and not monthly payments. As mentioned before go to Kelly Blue Book or Edmunds and set a price that is fair for you and the salesperson and stick to it. If they are not willing to deal go somewhere else. If they want the sell bad enough they will come down on the price. After the sell has been finalized don't let them sell you any extended warranties. Quote Link to comment Share on other sites More sharing options...
Ryan4VT 4,557 Author Report Share Posted September 28, 2011 Also before you get to the car lot check with your insurance company for a quote on the car that you are interested in and apply for car loans from different banks and then go with the one that offers you the lowest interest rate. Chances are it may be lower than what the dealership will offer you otherwise go with the dealership. Deal on terms of price and not monthly payments. As mentioned before go to Kelly Blue Book or Edmunds and set a price that is fair for you and the salesperson and stick to it. If they are not willing to deal go somewhere else. If they want the sell bad enough they will come down on the price. After the sell has been finalized don't let them sell you any extended warranties. My car KBBs for 1850. Cole Kia is running a thing right now where they have the new Kia Soul that I want for 13,999. Im on my moms insurance currently though. And I have extremely limited credit. So the dealer is probably the only place that will fianance it for me. Quote Link to comment Share on other sites More sharing options...
EH31 2,518 Report Share Posted September 28, 2011 are you going to buy it from Cole? I got mine financed through Kia Motors Quote Link to comment Share on other sites More sharing options...
Deleted Account 5,203 Report Share Posted September 28, 2011 The answer, as with most things in life: it depends. It's not an ironclad rule that a dealership won't give you better than an independent selling, and in fact, my family's been burned with independent selling before. Just do the research. Quote Link to comment Share on other sites More sharing options...
BigBlueAlum 12 Report Share Posted September 28, 2011 (edited) My car KBBs for 1850. Cole Kia is running a thing right now where they have the new Kia Soul that I want for 13,999. Im on my moms insurance currently though. And I have extremely limited credit. So the dealer is probably the only place that will fianance it for me. We bought my wife a Soul last August and she loves it. I would suggest going to http://www.kiasoulforums.com and doing some reading first. You can find a lot of good information there. I probably wouldn't go to Cole Kia if I had to do it all over again. My experience there wasn't terrible, but I feel it could have been a lot better. I ended up over paying (not a lot, but I feel like I could have gotten a better deal after doing some research online), partially because I went in under prepared, partially because I let my wife talk me into it when I didn't feel comfortable, and partially because the sales manager said anything to get us to buy the car (probably as any salesman would do). But overall I just didn't get a good vibe from him. However, I take most of the blame myself, because we only went to "look at cars" and I had no intention of buying a car that day...We actually left the dealership and made it back to Mercer Mall before my wife finally got to me and we turned around and went back to buy it. It was my first experience buying a car of any kind, so I just chalk it up as learning from experience. But there is enough information out there on the internet that you can go in armed with all you need to get a really good deal. And just as someone else said, if they don't want to do a deal then go somewhere else. I would recommend to at least check with Wallace Kia in Bristol as well, just to compare prices...and let them know what Cole Kia offers and they may beat it. Good luck! Let me know if you need any info about the car. There are a lot of fun accessories that you can get for it. Edited September 28, 2011 by BigBlueAlum Quote Link to comment Share on other sites More sharing options...
BigBlueAlum 12 Report Share Posted September 28, 2011 The answer, as with most things in life: it depends. It's not an ironclad rule that a dealership won't give you better than an independent selling, and in fact, my family's been burned with independent selling before. Just do the research. Also remember that a dealership may give you more for the trade, but they may also hold back on their price negotiations to compensate for the lose they are taking on the trade. Just a trick that they could use to make you feel like you are winning with the trade-in. Quote Link to comment Share on other sites More sharing options...
Lance 228 Report Share Posted September 28, 2011 dude...go buy a Scion...about the same price range and they hold their value...I got an 06 XA for a little over $12k brand new and its still booking for about $7500 and has 149k on it...only thing i've done to it is keep up with the routine maintenance and it gets about 40mpg and has more room in it than any other small car i drove...as you know i'm a big man lol. anyway...i've had friends who bought Kia's and got upside down in them money wise quickly...so i'd check Scion before i bought anything and see what they have...i've made good deals and bad deals....the Scion was the best deal i've made on buying a car. Just my advice for you my friend. Quote Link to comment Share on other sites More sharing options...
GMan 3,569 Report Share Posted September 28, 2011 Also before you get to the car lot check with your insurance company for a quote on the car that you are interested in and apply for car loans from different banks and then go with the one that offers you the lowest interest rate. Chances are it may be lower than what the dealership will offer you otherwise go with the dealership. Most of the time, you will get better rates through the dealership...significantly better if they have a special offer going. BTW, on my last vehicle purchase, I got 0.0% for 60 months through the dealer, $1,500 more for my trade than what I was wanting/expecting (got $9,000), 10 year/200,000 mile warranty for free through the dealer, plus the vehicle was already marked down significantly (over $3,000...from over $38,000 to almost $35,000) from the sticker price. 2011 Acura RDX, loaded, with 6.2 miles on it. Quote Link to comment Share on other sites More sharing options...
BigBlueAlum 12 Report Share Posted September 28, 2011 (edited) dude...go buy a Scion...about the same price range and they hold their value...I got an 06 XA for a little over $12k brand new and its still booking for about $7500 and has 149k on it...only thing i've done to it is keep up with the routine maintenance and it gets about 40mpg and has more room in it than any other small car i drove...as you know i'm a big man lol. anyway...i've had friends who bought Kia's and got upside down in them money wise quickly...so i'd check Scion before i bought anything and see what they have...i've made good deals and bad deals....the Scion was the best deal i've made on buying a car. Just my advice for you my friend. Yeah, but they are ugly. ;) But seriously, mine is only a year old but my value is holding strong. It is booking (kbb) for about $300 less than what I paid for it, and I paid more than I should have. The new Kia's are not the Kia's of old. They are much better quality and halve a lot of nice features. Edit: After looking at the XA (I didn't know which model it was before I googled it) I think it looks pretty good. I was picturing the Scion XB, which in my opinion is the ugliest car right next to the Nissan Cube. Edited September 28, 2011 by BigBlueAlum Quote Link to comment Share on other sites More sharing options...
Lance 228 Report Share Posted September 28, 2011 Yeah, but they are ugly. ;) But seriously, mine is only a year old but my value is holding strong. It is booking (kbb) for about $300 less than what I paid for it, and I paid more than I should have. The new Kia's are not the Kia's of old. They are much better quality and halve a lot of nice features. Ugly? put the mirror down. lol. If you buy used Kia is not bad, but if you buy new you take a beating...pretty much like most cars you buy new. Hyundai and Kia both have better cars these days but both give you a beating in the wallet if you buy new and then sell it or trade it within 5 years...most of the time you are looking at $2500 unless it's an SUV. He is looking at a Soul, will probably hold value better than a Rio lol. Quote Link to comment Share on other sites More sharing options...
Lance 228 Report Share Posted September 28, 2011 mine is like that...windows are not tinted and different wheels...but other than that its the same. not sure what that is on the hatch area on the main back roofline...mine is clean looking back there, they must have some stupid spoiler on the one in the pic or something? Quote Link to comment Share on other sites More sharing options...
BigBlueAlum 12 Report Share Posted September 28, 2011 Ugly? put the mirror down. lol. If you buy used Kia is not bad, but if you buy new you take a beating...pretty much like most cars you buy new. Hyundai and Kia both have better cars these days but both give you a beating in the wallet if you buy new and then sell it or trade it within 5 years...most of the time you are looking at $2500 unless it's an SUV. He is looking at a Soul, will probably hold value better than a Rio lol. I guess you got to my post before I edited it to say I actually like the XA...its the XB that I think is ugly. lol Besides if Ryan is like me, he doesn't plan to sell or trade within 5 years...I'll keep mine at least till the warranty is up (10 years, 100,000 miles). Quote Link to comment Share on other sites More sharing options...
trublue 939 Report Share Posted September 28, 2011 One last comment I'll make...Ryan, I know we've inundated you with info on how to buy a new car...lol; however, I am going to recommend you get gap insurance (not from the dealer but on your Mom's policy). Remember, the car will be new to you when you drive it off the lot ...but, becomes a used car with immediate depreciation to anyone else. (I'm basing the gap insurance on what you've indicated about your funding.) Good luck on your decision and purchase. BTW, my first car purchase was strictly on appeal...used sporty car, leather seats, and COLOR :D...my Dad co-signed for me, I didn't have any upfront funding, however, I did make the payments. (I'm sure I was on his insurance policy too.) Quote Link to comment Share on other sites More sharing options...
GMan 3,569 Report Share Posted September 28, 2011 BTW, on my last vehicle purchase, I got 0.0% for 60 months through the dealer, $1,500 more for my trade than what I was wanting/expecting (got $9,000), 10 year/200,000 mile warranty for free through the dealer, plus the vehicle was already marked down significantly (over $3,000...from over $38,000 to almost $35,000) from the sticker price. 2011 Acura RDX, loaded, with 6.2 miles on it. Forgot to add...the dealership bought the wife and I dinner at a local sushi restaurant, too... Quote Link to comment Share on other sites More sharing options...
BigBlueAlum 12 Report Share Posted September 28, 2011 Forgot to add...the dealership bought the wife and I dinner at a local sushi restaurant, too... Can you come with me the next time I buy a car? Quote Link to comment Share on other sites More sharing options...
BigD4VT 11 Report Share Posted September 28, 2011 I've never really did this, and its kinda exciting yet scary at the same time. What can I expect? lol You can expect a little book that's about 72 pages long and takes 6 years to read... Quote Link to comment Share on other sites More sharing options...
Ryan4VT 4,557 Author Report Share Posted September 28, 2011 We bought my wife a Soul last August and she loves it. I would suggest going to http://www.kiasoulforums.com and doing some reading first. You can find a lot of good information there. I probably wouldn't go to Cole Kia if I had to do it all over again. My experience there wasn't terrible, but I feel it could have been a lot better. I ended up over paying (not a lot, but I feel like I could have gotten a better deal after doing some research online), partially because I went in under prepared, partially because I let my wife talk me into it when I didn't feel comfortable, and partially because the sales manager said anything to get us to buy the car (probably as any salesman would do). But overall I just didn't get a good vibe from him. However, I take most of the blame myself, because we only went to "look at cars" and I had no intention of buying a car that day...We actually left the dealership and made it back to Mercer Mall before my wife finally got to me and we turned around and went back to buy it. It was my first experience buying a car of any kind, so I just chalk it up as learning from experience. But there is enough information out there on the internet that you can go in armed with all you need to get a really good deal. And just as someone else said, if they don't want to do a deal then go somewhere else. I would recommend to at least check with Wallace Kia in Bristol as well, just to compare prices...and let them know what Cole Kia offers and they may beat it. Good luck! Let me know if you need any info about the car. There are a lot of fun accessories that you can get for it. I've been looking around and Cole has the best deal that I've seen so far. But I'm gonna go Friday before the ball game to Bristol and see what they say. Maybe test drive one. I love the fact that there are lots of accesories that can be done with the car. dude...go buy a Scion...about the same price range and they hold their value...I got an 06 XA for a little over $12k brand new and its still booking for about $7500 and has 149k on it...only thing i've done to it is keep up with the routine maintenance and it gets about 40mpg and has more room in it than any other small car i drove...as you know i'm a big man lol. I just dont find Scions that attractive to me. Just my personal preferance though lol. I guess you got to my post before I edited it to say I actually like the XA...its the XB that I think is ugly. lol Besides if Ryan is like me, he doesn't plan to sell or trade within 5 years...I'll keep mine at least till the warranty is up (10 years, 100,000 miles). Exactly. If I'm buying a brand new car, I'm keeping it for a while. One last comment I'll make...Ryan, I know we've inundated you with info on how to buy a new car...lol; however, I am going to recommend you get gap insurance (not from the dealer but on your Mom's policy). Remember, the car will be new to you when you drive it off the lot ...but, becomes a used car with immediate depreciation to anyone else. (I'm basing the gap insurance on what you've indicated about your funding.) Good luck on your decision and purchase. BTW, my first car purchase was strictly on appeal...used sporty car, leather seats, and COLOR :D...my Dad co-signed for me, I didn't have any upfront funding, however, I did make the payments. (I'm sure I was on his insurance policy too.) I talked to Geico today about getting insurance through them since that's what Mom has. They seem to say they will give me some discounts because I've been on Moms plan. Forgot to add...the dealership bought the wife and I dinner at a local sushi restaurant, too... Wanna come with me??? lol Quote Link to comment Share on other sites More sharing options...
Ryan4VT 4,557 Author Report Share Posted September 28, 2011 Heres another questoin. BigBlue, you may be able to answer this one. If I can't find a Soul that has the accessories that I want, can they order one? And how much would that cost do you guys think?? Quote Link to comment Share on other sites More sharing options...
GMan 3,569 Report Share Posted September 28, 2011 Can you come with me the next time I buy a car? That was the second vehicle we had bought from that dealership in a 13-month period...bought the wife an Audi in 2010... I can put a good word in if you're interested in a new vehicle...Duncan Audi/Acura in Roanoke. Ask for Scott Carder (Sales) or Jim Sanders (GM). Both purchases were the easiest, most pleasant experiences I've had in a car dealership...no hassles or hard sells. Scott is very laid back but will go out of his way to take care of his customers. Jim makes the paperwork a breeze. Service after the sale is quick and efficient too...Lynwood will take care of you in the service department. Quote Link to comment Share on other sites More sharing options...
Ryan4VT 4,557 Author Report Share Posted September 28, 2011 That was the second vehicle we had bought from that dealership in a 13-month period...bought the wife an Audi in 2010... I can put a good word in if you're interested in a new vehicle...Duncan Audi/Acura in Roanoke. Ask for Scott Carder (Sales) or Jim Sanders (GM). Both purchases were the easiest, most pleasant experiences I've had in a car dealership...no hassles or hard sells. Scotts very laid back but will go out of his way to take care of his customers. Jim makes the paperwork a breeze. Service after the sale is quick and efficient too...Lynwood will take care of you in the service department. Pretty sure an Audi is a little over my head price wise. I only bring home around 1200 a month. Quote Link to comment Share on other sites More sharing options...
GMan 3,569 Report Share Posted September 28, 2011 Heres another questoin. BigBlue, you may be able to answer this one. If I can't find a Soul that has the accessories that I want, can they order one? And how much would that cost do you guys think?? Probably, however, the dealership will likely check inventory at other dealers to make a trade for the vehicle you want. If they have to order one, it will likely be a 2012 and don't expect any sort of "deal" on the vehicle...you'll likely pay top dollar and will have a significant wait for the vehicle to come in. Quote Link to comment Share on other sites More sharing options...
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