Car decision

[ToniCipriani]

OK, my Cavy's lease is up exactly one year later, and as to not make an uneducated purchase like my current Cavalier, I'm researching. I might even try to get out early, but the chance is quite slim. Here are the options I'm thinking of: 1) New Pontiac G6 4-cylinder /w ABS + ETS (maybe with sunroof as well B) ) 2) Used Olds Alero GX or GL, preferably 4-cylinder 3) New Chevy Cobalt LS / Pontiac Pursuit SE (Depending on which is a better deal) 4) Buyout my Cavalier for $7000 Option 1 would be the most expensive, but it's my favourite. Option 2 is viable, I always liked that car. My only concern is the mechanics of the car. I'm sure it'll be fun to stall on the 401 in the middle of winter. But if that's out of the way, I'm all for it as well. Option 3, well, it's more of my family's choice. They want me to get one, because it looks plain enough. But I'm personally against it, as I need room to move between Waterloo and Toronto. It's smaller than my Cavy. Option 4, it's just an option. I don't really want it, plus I don't think my Cavy is worth paying that much, given the possible problems down the road, although it ain't giving any at the moment. Buying new for me has the advantage of that I can go for the student deal (two months free), since I'm in university. Correct me if I'm wrong though. Plus I get full warranty and won't need to worry about car problems. I would mostly be doing highway driving, but during work terms I may drive to work as well. Also I'd also like to get a stick if possible, it's just more fun it seems. Although most of my family is against the idea, mostly because of winter driving. Although I don't think it would be that difficult when I force myself to drive safely. Which one should I go for? And should I seek to end my lease early?

[Cory Wolfe]

Option 5 sounds nice. :D But if not that one, I think option 1 would be fine. Although I'm not sure its available with a stick. Still, weighing about 3500lbs and having a 167hp engine won't make for a very fast car. I mean, the 200hp V6 goes to 60 in 8 seconds. So it'll probably do it around 8.5 to 9 seconds. Maybe more.

[ToniCipriani]

I know the G6 isn't available with a stick. I'll stick to the automatic for that one. I don't really care about the performace as well, gas cost is more of a concern for me. I just thought the stick would be a fun addition to the other options beside 1 and 4. I'm sort of sick with an automatic.

[frogger]

Ah... I remember the days of moving to Waterloo and back to Toronto every four months for almost 5 years, that was enough moving for a lifetime :-). Anyways, I would go for an HHR as it would make those moves more bearable. Or a Vibe AWD on the more expensive side of things.

[Croc]

Honestly I'd look at either the HHR or an Equinox. If you're looking at G6, get a Malibu or MAXX instead. Same car, better intrior, MAXX is most practical... Edit: Equinox and MAXX are prolly out of your range. Base Malibu starts out the same as a base G6. Edited September 20, 2005 by Croc

[pow]

Another vote for the HHR... it isn't that much more than a Pursuit, but it's a lot more practical.

[Sixty8panther]

4) Buyout my Cavalier for $7000

[post="16886"]<{POST_SNAPBACK}>[/post]

This would be a very silly move. I'm sure you realize you could turn in your lease car, wait a month and find it at an auction for $3500. At this point a dealer would buy it and throw some money at it in terms of maintenance items and such while selling it for you for a grand total of $5900.

I may be exagerating a little bit but not much. Edited September 20, 2005 by Sixty8panther

[ToniCipriani]

Actually I thought about the HHR as well, and it is on my shopping list. It's not bad for the price, but I sort of prefer driving a sedan than a wagon. And yes, Sixty8, you are right. That was exactly what I was thinking, not to mention the maintenance costs coming up.

[Dsuupr]

I would go with the G6 4-cyl then the Cobalt. My wife and I would have preferred the G6 4-cyl., they just were not available and we needed a new car.

[bowtie_dude]

Get a Cobalt. I'm gonna save up for a year and get either a a loaded SS (non-S/C) or a loaded HHR LT2. With a decent down payment (I'm hoping for a $3-4k down payment) I can get a monthly payment under $300. :D

[ToniCipriani]

Are you talking about a lease?? 3-4K down payment then under 300 monthly??? Doesn't seem to sum up...

[Satty]

A $3k down payment on an HHR LT2 would put payments at about $290/month and Smartlease at about $250/month (12k miles/year). You can estimate payments on Chevy.com.

[ToniCipriani]

A $3k down payment on an HHR LT2 would put payments at about $290/month and Smartlease at about $250/month (12k miles/year).  You can estimate payments on Chevy.com.

[post="19758"]<{POST_SNAPBACK}>[/post]

Oh OK... I almost forgot.. US dollars...

[CARBIZ]

The payment calculators are useless. They don't factor in all the hidden costs - and in Canada there are a lot. My favorite example is the recent "offers" from Chrysler for a Caravan at $199 (plus taxes, of course). The ad said $5,300 DOWN. I worked it out to be $8,000 on delivery. Joke, no? 1. I am assuming it is a 2002 Cavalier, since your lease is up next year. Yes, the vehicle will be worth $7,000 to you. Since the Cavalier went out of production, the wholesale prices have climbed again. (THey don't have $11,999 brand new Cavaliers to compete with.) If you have cared for the vehicle and it is just the base with a/c and automatic - sure, why not buy it out. I have dozens of customers with 1995, 1996 Cavaliers with 200k on them and still going. Despite what the BS in CR claims, these cars are pretty bulletproof. 2. I would defintely consider the HHR. The leases are expensive now (the Impala is the same money), but if you catch the Spring market there will be deals on them, I am sure. If your lease is up in the summer, you may even consider getting out of it in the Spring before the residuals drop. Maybe even visit the Auto Show in February and get the rate break at the GMAC booth - they usually don't expire until May or June. I would guess that within six months the HHR will lease out for the same kind of money as the Cobalt LS. 3. If you are considering the Cobalt, you could go for the base and put a few extras on it. If you are wanting someting wonky like ABS and a stick, give yourself time to factory order it. The nice thing about a lease is that you know when the end date is and can plan for it.

[ToniCipriani]

My lease actually ends in mid-September.

[Teh Ricer Civic!]

Option 2 is viable, I always liked that car. My only concern is the mechanics of the car. I'm sure it'll be fun to stall on the 401 in the middle of winter. But if that's out of the way, I'm all for it as well.

I hear dropping the clutch is a quick solution to a stall with a manual http://www.cheersandgears.com/public/style_emoticons/<#EMO_DIR#>/AH-HA_wink.gif

not to mention its hella fun. :P Edited September 25, 2005 by Teh Ricer Civic!

[TurboRush]

I'd go for a 1999 or 2000 olds Alero 2.4L with 5 spd. Other than that, I would also consider the HHR with the 2.4L engine as well, or a 4 banger G6. For cost reasons, I'd go for the Alero...... I like the 2.4 better than the 2.2 ecotec. Has better low end grunt. They offered the 2.4 only in the 1999 and 200 then switched to the 2.2 for the reaminder of the production years. If I had some dough, I'd definately go straight for the HHR with the 2.4 and eventualy add a turbocharged setup.

[ToniCipriani]

What else do I have to take into consideration other than the vehicle price and insurance? What hidden fees are there that I need to factor in?

[CARBIZ]

If you buy your car out, you can do it yourself (provided you have the cash), but you will need to pay for a safety (Ontario's rules) and your emissions test must be less than a year old. The safety itself will cost you about a $100, provided they don't find anything wrong. Tires, signals, brakes - all have to be above a certain spec to pass. If you call GMAC, they can send you a kit via fax (letters to the Ministry, etc) that will walk you through it. If the dealer handles the buy out for you, chances are they will charge you their customary admin, registration fees, usually amounting to around $300, but they can arrange the financing for you - OAC, of course! If you go new from a dealer, then you have the admin, registration fees, plus the PPSA (again the government charging for the lien). Advertised prices are usually plus freight (almost always $1,000, give or take), admin, taxes and fees. GM does not charge PDI (or PDE, whatever), unlike many of the imports. The dealer is credited for this work. The gas tax is $75 on most cars - higher on SUVS and non-existent on trucks. Most of these fees and taxes are - TAXABLE. Used vehicles from a dealer will avoid the freight and gas taxes, but you will still pay the admin, registration and PPSA (unless cash, naturally.) Of course, you can buy privately or from a small lot and their fees may be less, but then - who knows what you are buying, right? I would rather lease my own car and then (possibly) buy it out at the end, than buy a used vehicle. Unless the used vehicle was only a year old with lots of factory warranty, or from someone I knew and I knew that car, too. Give me a well looked after older car (like the '95 Cutlass Supreme 2 dr. I saw yesterday - black on black with 90k!) that is only worth a couple grand, or a daily rental with lots of warranty. Everything in between I don't like. Just my opinion, though.

[Sixty8panther]

There's many worse vehicles out there than a nicely optioned HHR 5-speed. Esp. if you're not turned off by FWD like myself.

[ToniCipriani]

I don't really mind the drivetrain, since I'm not going to be racing the car anyways. FWD probably would be safer for me, since so far I haven't handled a RWD car, and I'm sort of relatively new to driving (reaching 3 years). Carbiz - So is it that for a new car finance, I add all the fees you listed, minus deposit, add interest, then divide by number of terms? I really don't want to go into another lease, given the extra limitations and since I don't run a business, I don't really benefit from it. The lease I have now is giving me enough nightmares. I'm still figuring out how much I have to pay for the front bumper scratches.

[CARBIZ]

I have often said to management that when we do a used car appraisal we should hand the prospective customer a bill, itemizing all the deductions due to scratches, dents and excess wear. Believe me, if you owned the Cavalier and were trading it in, you would get deducted for the shape it is in, you just wouldn't see the bill. The trouble with a lot of people in their leases is that they treat the car like sh*t. Have you ever heard someone say,"Oh, don't worry about it, it is leased!" Sounds like you should get in touch with your original salesperson and ask him/her to get off their ass and help you. Scratches and dents are only charged for if they are above a certain size; otherwise, it is just normal wear and tear. If a dent is bad, there are companies like Dent Wizard, etc. that can go to your house and fix them for a nominal charge. Sometimes, the dealer can do that and just put it into the payment for you. In many cases, leasing is BETTER than financing. For example, right now to lease a 2006 Impala, the rate is 1%, but the finance rate is 3.9%. In this case, you would actually SAVE about $1,500 (I am at home right now so I can't work it out exactly) if you leased the Impala and then bought it out. Sometimes, GMAC has hidden things like "lease cash" (like the 4 door Cobalt has right now) that you don't get if you finance or pay cash. Your salesperson's sworn job is to manage your account for you, to advise you when to get out of the lease. Timing is everything. Your Cavalier would be a great car to buy out and drive into the ground until you were on your feet and could get something you really want in a couple years. Call GMAC 1-800-616-4622, have your acct # or VIN handy and get them to send you the papers to buy it out yourself, if that is what you choose to do. Or call your dealer and ask for help. Screw 'em if they won't help you.

[ToniCipriani]

No, a second thought, definitely not my Cavalier. If I wait until the end of the lease and buy it out, I would end up paying like 21 grands for a base Cavalier. That was the reason I am not buying it. The dealer for some reason, listed two prices when we got the car. One was for cash and financing, the other for leasing. There was like a $2000 extra for some reason. I can't remember what it was exactly, but the difference was there.

[CARBIZ]

But you can't look at it like that. You have to look at the buy out (which is probably pretty cheap) and see if that is a good deal for YOU. Of course you should buy a new car - who wouldn't want one? And GM always had a CASH price or a lease/finance price that didn't include the cash back. As I posted earlier, each vehicle's deals are different and they are different at various times of the year. twenty one grand for a Cavalier, considering that would include the taxes and 4 years of interest is not bad - not for 2002. Of course, six months ago you could have bought a 2005 for $12k, but even with taxes, fees and (horrors) INTEREST if you didn't actually have the cash, you would still have paid $18-19k. (Of course, you would at least have gotten the ecotec engine!) Naturally, the dealer is going to tell you to lease or buy another car, but unless you have money to put down, you are into another $300+ payment on another lease on a Cobalt/Optra/Aveo. Don't believe the ads: $179/mo (plus tax) on a Kia Rio is ZERO DOWN, but they still want $2,000 UP FRONT, and that is for a 5spd no a/c, nothing. And that is a 60 month lease!! OUCH. If there is one thing I would tell you NOT to do, that would be NEVER, NEVER, NEVER lease any vehicle for 60 months. You will get sucked dry when you return it - I know, I dig customers out of 60 month leases (Kia, Hyundai, etc.) all the time. Awful, just awful.

[ToniCipriani]

unless you have money to put down

[post="21486"]<{POST_SNAPBACK}>[/post]

In fact in the past two years I've been saving up for it. That's why I wanted to know the specific way to calculate the payments and stuff.