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What NOT to do

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MattH
Senior Contributor

What NOT to do

Some years ago when my old clunker died I bought a replacement that same day, and overpaid by several thousand dollars due to the lack of shopping time. If I'm ever in a similar situation again, I will RENT a car for a few weeks to give myself a little shopping time -- three weeks rental on an economy car would cost a LOT less!
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: What NOT to do

Great idea Matt! That would save a lot of money in the long run.... There are so many posters saying their cars died or are about to die and need a loan asap without shopping it seems. Then later regret their purchases because they got ripped a new one on the sale or have to much negative equity. Excellent advice Matt!!!
Message 2 of 5
Anonymous
Not applicable

Re: What NOT to do

Yes, I did the same thing when I bought my first car after mine died....Research is key!
Message 3 of 5
MattH
Senior Contributor

Re: What NOT to do



@Anonymous wrote:
Great idea Matt! That would save a lot of money in the long run.... There are so many posters saying their cars died or are about to die and need a loan asap without shopping it seems. Then later regret their purchases because they got ripped a new one on the sale or have to much negative equity. Excellent advice Matt!!!





Fortunately for me, the car for which I paid about $3K too much was in all other respects a good car (2000 Camry, very reliable) and I still have it four years later. I'm thinking of trading it in sometime in 2009, by which time I will have had it for five years, so effectively my mistake will only have added around $500 to my annual transportation costs. That's a major advantage of keeping my cars for a while: it minimizes the overall impact of any negotiating errors! Imagine if I bought NEW cars every couple of years and overpaid by a similar percentage...
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
Message 4 of 5
Anonymous
Not applicable

Re: What NOT to do

Buying a vehicle when you have -to, as opposed to when you want -to, is a very bad idea! Not only losing the needed research but your desperation makes you impulse buy, and thats the worst way to purchase a car. The dealers will pick up on this and jump all over you. Do your research before you need to, not when you car dies and you have to.
Message 5 of 5
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