New vs. Old - $25,000 dollar challenge

Hey guys & gals (though i wonder how many gals use this website),

To start off, i will be graduating in a year or so. I wanted to get rid of the headache of purchasing car and have some road experience under my belt before i commit myself to daily commute. So, Obviously, i need to purchase a car for long term.

I am asking for your opinion on several questions, you don't have to answer them all:

Main Question: "If you have to spend $25,000 dollar on a New/Used car what car would it be?" (If the year of car is 2006 to now?)

Sub Question:
(1) How do i find the best deal on Certified Pre-owned car?
(2) Is there like a mathematical formula where you input, options in car, mileage, cars, etc and get estimated Pre-owned car price? (Sorry, this is just nerdy part of me speaking)
(3) How can i get the lowest insurance rate? (Given that I didn't have major purchase on my credit card throughout my college years)
(4) What is best new car to own under $25,000? (If i am making $5000 dollar down-payment, no trade-in, and could pay up to $400 dollars in car-monthly payment)
(5) What is best "bang for the buck" for CPO (Certified Pre-Owned), If i want to spend that same amount of money purchasing either sporty/luxury car?
(6) Is it cheaper to buy car and then upgrade? If so, which one requires least experience to upgrade (without fail)?
(7) If you are buying Certified Pre-Owned Car out-of-state, What are the things to look out for? (basically, how do i know i am getting good deal?)

I know i have listed lot of questions but i didn't want to spam the forum board making separate lists. You could just answer one of the eight listed :-)

Personally, i want to own CPO BMW 3-series with mileage less than 25000 miles. But i am still much confused on this car purchasing ordeal and wondered if you guys/gals could calm my nerve down a bit.

~Thanks and Looking forward to your interesting response on how to spend money that i don't have, (will have to work for)...

1) How do i find the best deal on Certified Pre-owned car?
(2) Is there like a mathematical formula where you input, options in car, mileage, cars, etc and get estimated Pre-owned car price? (Sorry, this is just nerdy part of me speaking)
(3) How can i get the lowest insurance rate? (Given that I didn't have major purchase on my credit card throughout my college years)
(4) What is best new car to own under $25,000? (If i am making $5000 dollar down-payment, no trade-in, and could pay up to $400 dollars in car-monthly payment)
(5) What is best "bang for the buck" for CPO (Certified Pre-Owned), If i want to spend that same amount of money purchasing either sporty/luxury car?
(6) Is it cheaper to buy car and then upgrade? If so, which one requires least experience to upgrade (without fail)?
(7) If you are buying Certified Pre-Owned Car out-of-state, What are the things to look out for? (basically, how do i know i am getting good deal?)



1) Best way to find a good deal is to go on cars.com, autotrader.com, or edmunds.com and browse all the cars avalible that fit your profile, make sure you check the Kelley Blue Book (KBB) value and CarFax report on any car you plan on buying

2) That would be the KBB value, cars.com has an exact link to it in the research part of their site and on every used car posting

3) Best way to get a great insurance rate is to get a car thats not too expensive to repair and get it in white, don't ask me why but white cars have much cheaper insurance rate

4) Heres a list of the Top 10 new cars under 25,000 from edmunds.com

"1. Chrysler 300: Chrysler goes old school with its broad-shouldered, rear-wheel-drive 300 sedan. With a V6 engine, huge trunk and a generously sized, comfortably equipped cabin, the 300 proves that style and substance don't always come with a hefty price tag to match.

2. Dodge Magnum: Even people who don't like wagons find themselves strangely attracted to Dodge's muscular Magnum. With its spacious interior, lengthy options list, underfloor storage cubbies and clever rear door design, this torquey, rear-wheel-drive wagon isn't your typical "stay-way."

3. Ford Mustang: With a powerful, imposing design that looks back as much as it looks forward, the all-new Mustang demonstrates that the era of the muscle car is far from over. However, this is a thoroughly modern car, with sophisticated engines, traction control, split-folding rear seats and over 125 interchangeable instrument cluster colors.

4. Honda Accord: There's a reason "Accord" is a household name: it's a world-class family car. Built by Americans for Americans, the Accord is easy to drive, easy to look at and, at well under $25K popularly equipped, easy on the wallet. A quick new hybrid version is also available for 2005.

5. Mazda 6: Razor-sharp steering, alluring styling and a well-sorted suspension make the Mazda 6 a zesty alternative to the Honda Accord, Toyota Camry and Nissan Altima, with outstanding warranty coverage to boot. And unlike those competitors, the Mazda 6 is also available as a sexy, practical hatchback and sporty wagon.

6. Mazda Miata: "Miata" must mean "joie de vivre" in Japanese — if it doesn't, it should. With just enough power, extremely low mass, go-kart handling and, of course, a top that disappears at the flick of the wrist, no other car we can think of taps into your giddy inner child like the playful Miata.

7. Mini Cooper: Born as a full member of the BMW family, the diminutive Mini Cooper is like a baby raised by a pack of intellectually gifted, luxury-minded wolves with Ph.D.s. How else could you explain its six airbags, electronic wizardry and options like a navigation system, xenon headlamps and a full-length moonroof?

8. Subaru Legacy: The 2005 Legacy scores high on our list of favorite cars, with standard all-wheel drive, excellent fit and finish and real style inside and out. Even better is the GT model's responsive turbocharged engine and sharp handling. Think of the Legacy as Audi A4 quattro with a roomier interior and a huge discount.

9. Toyota Prius: NASA could learn a thing or two from the crafty engineers at Toyota that devised the lean, green, fuel-sipping, hybrid powertrain that gives the Prius its unbelievable gas mileage. And with its funky, futuristic looks, the Prius is a rolling proclamation of eco-sensitivity. It's also a very practical midsize four-door hatchback.

10. Volkswagen Golf: Hatchback practicality, a friend-friendly backseat and a short overall length make the Golf a favorite for urbanites on a budget. But no matter where you live, you can appreciate the high-speed stability that comes from the Golf's autobahn breeding, as well as its classy interior and exterior styling."

5) My top picks on this one (no specific order but I really like BWMs)

2006 BMW 325i- $21,000-27,000

2004-2006 Caddillac CTS- 18,000- 22,000

2005-2007 Infinity FX & G35 23,000-28,000

2004-2006 BMW X3 & 525xi- 22,000-28,000

6) If you don't have a lot of knowledge about cars I suggest buying a car thats ready to do what you need it for, mainly because when you walk into an auto shop and ask for something and you look confused, they will take advantage of you and try to sell you a bubmch of stuff you don't need.

7) It's not generaly recomended to buy an out-of-state car you can sometimes find a better deal elsewhere, other than that the check list is about the same, you just gotta take into account the cost of getting the car back home.

I have narrowed down the car selection to mainly two types. BMW 325 and 330. I am looking both at i and xi models. I am having hard trouble finding a car with mileage below 40000 miles, having sport package & Cold weather package, and possibly xi since it snows a lot (the place i am at). I found 2006 BMW 325i priced around 22000 dollars with premium package and 30000 miles on it. Is this good deal? I really want BMW 330xi for AWD and more power. but is extra $2000 and extra 10000 miles really worth it?

~Thanks in advance

imo bmw are over rated expesive parts more, expensive labor, pain to work on, and they're kind of specialty not every machanic will work on them. Get a honda theres tons of them = cheap parts (mech and body) everyone knows they run forever, and every mechanic can and will work on them = easy to shop around and get the best deal. I have never owned one but in my experiance if you get something that theres alot of all the comon problems have been well documented. Also certified only gose so far warinty's don't cover wear parts like brakes, clutches that kind of thing.

Price of parts for a Honda are not cheap also expensive to repair and avoid a Honda also.They have problems with their automatic transmissions even in the accords.My father watch a Honda mini van go through an auction and announced the transmission was rebuilt at 80,000 miles.

DONT GET A HONDA. The parts may be cheaper but their some of the most unreliable cars in the world. Get the BMW! you can get a 2006 BMW 3 series for just under 25,000 or you could get a 2006 X3 (SUV, but its fun as sht to drive, my mom just got one) for the same price. AWD and under 50k miles on both.

But go around and look at some dealers in your area, you don't have to buy a car right away if you test drive it! find a car you like driving. if you dont like it now you'll never like it.

Good luck!

ohh and P.S. dont forget to bargain the sht outa those car dealer bastards when you buy your car :)

beatdr, wafrederick, especially Shpuker thanks for taking time to reply to the threads.

i do understand that used cars are more labor intensive. I am also aware of the fact that BMW parts are more expensive. Right now, I am done thinking about Nissan Altima coupe since with 3.5S, and the options to match CPO 2006 BMW 330xi or 330i, final price tag goes any where from $30,000 to $35,000. Pretty Car and I love how Honda Accord handled...despite being little heavy.

I wanted to get used BMW for being able to enjoy commute and traveling. I am going to put a lot of mileage on the car, so least of things i want to worry about is engine failure. All the other parts are easily replaced and upgraded...at least i think.

Right now, I am just thinking of purchasing bmw 330xi or 330i.

Only good deal right now that i could fine is at off-state and i have to travel around 200 miles to get to dealership. I have to do more of the bargaining through email and i was wondering if you guys have clue as to how to calculate the price of the 330xi or 330i with mileage.

~Thanks in advance.

P.S. Have droven BMW before and i love the handling. Though about getting Mini but thought it was over-price and i will have trouble moving my stuff after graduation.

Oh yeah, i called the dealership and asked whether internet price shown at autotrader.com & cars.com can be negotiated. Internet sale specialist said "it is bottom price". What can i do about this?

Another thing...found out that HSBC doesn't do automotive financing since 2008. I only had debit card so far (no credit card). How can i get best of the deal to get financed with low APR (close to zero) if i don't want cosigning (actually found it to be ridiculous since i am above 25 years old) to require cosigning to get the loan approved via dealership.

~Thanks in advance

ENT has good rates where I am dunno bout where your at. Try getting multiple quotes from different companies. And go to cars.com click reasearch and click the kelley blue book value in the top right this'll show you retail trade in and private party values of almost any car. And NO! That is not their lowest price if you feel like your ripping them off their getting to much

Alright this is where i am so far. I talked to auto insurance agent. Got a quote at 293 from G****. Pretty High i think. As for the car itself, I can't find a decent 330xi with aluminum trim that has sport package. So, i have abandon looking for 2006 330xi.

I started looking at 2007 bmw 328i manual. Found two cars. One with 14366 miles with 5.9 APR for 60 months ($26377US) and other one with 23240 miles with 3.9 APR for 60 months ($25998US).

I wanted 60 months since i am still student and don't want to get caught up with monthly payment. Anyhow, i think the price is to high for both despite the fact that it is 2007 and low mileage. What can i do?

Thanks in advance

If their both at the same dealer try this:
Go in and test drive both, tell the salesman that you dont want to pay to much over 24,000 (to get him lower). and by driving both you can figure out which one runs better and all that good stuff. look for any visable damadge (little scratches or wears) on the exterior and interior on both. and when your at the dealership get them to print you the CarFax for both cars (even if you havent already) this should get them a lower than the original price.

If the cars are at seperate dealers then try this:
Go to the dealer with the cheaper of the 2 cars, test drive it, get the CarFax, etc... Then tell them your going to "such in such" dealership to look at another one with lower miles but was wondering how good of a deal you can get me on this car, and that you'll get back to them. go to the other dealership and test drive that car, and all the other good stuff. pick which car you like more.

depending on which it is use that for leverage.

if its the one with lower miles that you like:
Show them the other car and say that you really like both but don't wana go all the way back out to this dealer and ask them if they can beat this price, they'll probaly offer it at around 25,800 ish, don't settle for that, pretend to be disgusted at this and say well I'm going to see how much they can beat that by. start to get up, if they dont try to stop you then their the worst car salesman ever. this should work better with commision dealers :) then once they stop you (if they don't then you can still try to buy it from them but there goes a bunch of leverage) they should make an offer probaly closer to 25,000. if the offer they give is low enough for you then see if they'll budge another 300-400.

If its the one with higher miles:
Get the other dealers best offer and use this as leverage as you would with the other car. So basicaly say something like "But this dealer can give me this car for almost the same price. do the whole I'm gona go get the other car thing and see how low they'll go (probaly around 24,800 ish, try and nudge them a couple hundred lower again.

So basicaly try to be a dick (can be hard but your the one with the $)

Good luck with your dealer(s) lol.

P.S. usualy lower miles is the better option but their so close it won't make a huge difference. the most important thing is the condition of the car. it could easily be that the one with more miles is in much better shape.

If you want used car, you need to read this article about the lattest tendences in used-cars market. Btw it will be useful both for buyers and sellers.
http://usedcars-norbankk.blogspot.com/