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Old 12th August 2011, 10:25   #421
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Default Re: Buying a car in USA. New, used, etc.

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Originally Posted by kraft.wagen View Post
Insurance amount is calculated on your driving experience in US and year and model of the car. I pay around $100 for my 2001 Mustang, I guess its the 3rd party insurance, which covers body injury, property, motorists, rentals etc.

I guess the price goes up even for a coupe be it civic or mustang.
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Originally Posted by alam86 View Post
The insurance will depend on whether you buy a new car or a used car and the type of car [hybrid or not, amount of mileage etc] and obviously on the amount of coverage you get. I currently pay ~500$ for 6 months for a new Toyota Camry.
Thanks much. I understand now - difference in fuel cost, difference in insurance amount, difference in maintenance etc all look (relatively) minor individually, but they could add up to say $300 per month more for a sports car, which is not a small amount. Now I "get" it

Still, I guess whether it is worth paying that $300 extra (say, when someone is already paying $700 to $800 per month) to drive a sports car instead of an economy car, is purely up to how badly he wants it, how big his paycheck is and what his other priorities are. If I were still a bachelor, no question - I would still go for it
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Old 12th August 2011, 22:01   #422
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Default Re: Buying a car in USA. New, used, etc.

Just rent a sports car on the weekend. On regular days you may be too busy to enjoy your car anyway.
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Old 13th August 2011, 01:04   #423
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Default Re: Buying a car in USA. New, used, etc.

Totally agree with Vivek. Its pretty easy to rent a sports car if you really want that thrill for a weekend or a whole week
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Old 13th August 2011, 02:49   #424
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Default Re: Buying a car in USA. New, used, etc.

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Originally Posted by rajushank84 View Post
Ah, well. Insurance. Any idea what is the normal insurance amount for these cars (economy & sport)?
my friend pays $125 for full coverage on his infiniti g35. i pay $53(geico) per month for almost full coverage for my 11 yr old camry.

it depends on type of car. mustang will have more insurance. Also they consider your commute miles. You can tell them to put it at lowest. Also if you pay through credit card one time a month, it is around $5 more. If you use debit card, it is just $1 per month. if you want to pay for 6-month or 12-month, that $1/month is waived. This is how Geico works which is one of the top insurance companies here. They also check how long you have been driving. I was asked including my driving experience in India. Without that it would be just 2 years. I said for 8-10 years, so my overall cost went down.

Mustang has common transmission problems for auto/manual. So if you get a bad used piece, be ready to pay $1500-$2000 for a rebuilt. All this could quickly add up to the ownership.

I am in no way discouraging you from buying such a car, but initially it needs lots of financial calculation, you can do that a year later once you have settled here and know how everything works here.

I don't know how you arrived at $700-$800/month calculation for buying a car, but that is a little bit too much to pay for cars. Here if you pay $350/month, you can get a brand new camaro with RS package. So if you go pre-owned way and you keep your budget to $15k-$20k for your car, you will pay around $100-$150 per month depending on how much you do DP. Add around $100/month for insurance and around $200-$250 for monthly gas and you are looking at $400-$500 max per month on cars.

just my 2 cents.
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Old 13th August 2011, 09:45   #425
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Default Re: Buying a car in USA. New, used, etc.

So, I found a colleague of mine selling a 2005 Mazda Rx8 GT edition with leather seats, moonroof and bose premium audio.
Hes asking $13k for it.

I drove the car the other day and was head over heels in love with it.
The rotary engine was so smooth that I couldnt hear it at all. I ended up revving it a couple of times to 8k rpm because i forgot to change gears

But then afterwards, reality set in and while I was reading a bunch of rx8 forums, I realise that the engine has been troublesome and needs to be taken care, much more than normal cars. I spoke to Mazda about the car and they told me that the engine is covered under warranty for another year and a half.

I really love the car but then I plan to use only once a week during weekends and for 100 miles at max for a trip. I do plan on using it to take me on my hiking trips but I would hate for it to die down on me in the middle of nowhere.

I do plan on getting the engine compression test and the check up done at a Mazda dealership before i get the car.


So, what do you guys suggest? Do you think its worth spending 13k on the car?
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Old 13th August 2011, 10:24   #426
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Default Re: Buying a car in USA. New, used, etc.

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Originally Posted by chevelle View Post
my friend pays $125 for full coverage on his infiniti g35. i pay $53(geico) per month for almost full coverage for my 11 yr old camry.

it depends on type of car. mustang will have more insurance. Also they consider your commute miles. You can tell them to put it at lowest. Also if you pay through credit card one time a month, it is around $5 more. If you use debit card, it is just $1 per month. if you want to pay for 6-month or 12-month, that $1/month is waived. This is how Geico works which is one of the top insurance companies here. They also check how long you have been driving. I was asked including my driving experience in India. Without that it would be just 2 years. I said for 8-10 years, so my overall cost went down.

Mustang has common transmission problems for auto/manual. So if you get a bad used piece, be ready to pay $1500-$2000 for a rebuilt. All this could quickly add up to the ownership.

I am in no way discouraging you from buying such a car, but initially it needs lots of financial calculation, you can do that a year later once you have settled here and know how everything works here.

I don't know how you arrived at $700-$800/month calculation for buying a car, but that is a little bit too much to pay for cars. Here if you pay $350/month, you can get a brand new camaro with RS package. So if you go pre-owned way and you keep your budget to $15k-$20k for your car, you will pay around $100-$150 per month depending on how much you do DP. Add around $100/month for insurance and around $200-$250 for monthly gas and you are looking at $400-$500 max per month on cars.

just my 2 cents.
Thanks chevelle!! I actually arrived at $700-800 by calculating for a 24 month loan, especially from the "estimate payments" page all the car websites seem to have. Maybe you are referring to a much longer loan duration? So I figure, the price of a brand new fiesta or Yaris should be the same as a used mustang/civic (2007-2008ish), so the monthly payment for 24 months is also approximate the same. Am I right?

Also, when a person lands there and just gets his drivers license, will the car/insurance companies consider the date on the Indian driving license as "experience"?

Last edited by rajushank84 : 13th August 2011 at 10:27.
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Old 14th August 2011, 05:10   #427
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Default Re: Buying a car in USA. New, used, etc.

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Originally Posted by rajushank84 View Post
Thanks chevelle!! I actually arrived at $700-800 by calculating for a 24 month loan, especially from the "estimate payments" page all the car websites seem to have. Maybe you are referring to a much longer loan duration? So I figure, the price of a brand new fiesta or Yaris should be the same as a used mustang/civic (2007-2008ish), so the monthly payment for 24 months is also approximate the same. Am I right?

Also, when a person lands there and just gets his drivers license, will the car/insurance companies consider the date on the Indian driving license as "experience"?
Sorry for delayed response.

The payments on websites are bit over the top. When i was looking online, it was showing way more. When you go to dealer, you get ability to bring that price down by discounts and APR. New car APRs are 0.99%-2% and in some case 0% for first 6 months and then 1%. So it is better to shop with dealers. So even for 24 months it will go down.
Secondly, since you are here for two years, i would say, keep your budget to <= 10,000 USD. Get pre owned from a private owner and have fun. You will get good cars in good condition at that price. The reason is, you will stand to loose lot of money if you buy new and then sell it. Now a days, all entry level sedans are commanding premium because of gas prices and wait time. So a $17000 civic LX is being sold for $20,000. These are dealer mark up and there is no escaping it. The disadvantage is, you should have cash in hand and you can bring down the price to a whole lot than you can with dealers. Example - 2000 acura TL of my friend was quoted $5500, we managed to bring that guy to $4100 and bought it at that price. Also for DMV fees, he agreed to write $1000 so my friend paid very less DMV fees. As i said, cash is king. Show them cash they will willingly let it go for a little less price.

I just read yesterday that used car prices are very high now a days. Especially Japanese cars which are reliable. So do inquire a lot before taking the plunge.

Last edited by chevelle : 14th August 2011 at 05:16.
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Old 14th August 2011, 05:24   #428
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Default Re: Buying a car in USA. New, used, etc.

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Originally Posted by maranellored View Post
So, I found a colleague of mine selling a 2005 Mazda Rx8 GT edition with leather seats, moonroof and bose premium audio.
Hes asking $13k for it.

I drove the car the other day and was head over heels in love with it.
The rotary engine was so smooth that I couldnt hear it at all. I ended up revving it a couple of times to 8k rpm because i forgot to change gears

But then afterwards, reality set in and while I was reading a bunch of rx8 forums, I realise that the engine has been troublesome and needs to be taken care, much more than normal cars. I spoke to Mazda about the car and they told me that the engine is covered under warranty for another year and a half.

I really love the car but then I plan to use only once a week during weekends and for 100 miles at max for a trip. I do plan on using it to take me on my hiking trips but I would hate for it to die down on me in the middle of nowhere.

I do plan on getting the engine compression test and the check up done at a Mazda dealership before i get the car.


So, what do you guys suggest? Do you think its worth spending 13k on the car?
Rx-8 is good car. But two things, its not reliable as you already know and fuel economy is like a SUV. It is not a good city car, you have drive it at higher rpms to generate power. Auto has less power and manual has more. So pick up the manual if you can since you haven't mentioned it. Also you didn't mention its service history and how many miles done.

With all things considered, i wouldn't pay anything more than $10k. Do look up on kbb.com/used-cars. Get all options and see how much they value it. The price is always less than kbb quoted. So you can show that to your colleague and decide on price that way. For 2005, dealers are selling it for $11k-$13k, so as a private party, it will be atleast $3000 less, so you can pay around $8k-10k max. hope this helps.

get a honda s2000, nissan 350z, toyota celica or scion tc for such price and year. These are hoot to drive, reliable and fuel efficient.

just my two cents.
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Old 14th August 2011, 06:04   #429
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Default Re: Buying a car in USA. New, used, etc.

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Originally Posted by chevelle View Post
Rx-8 is good car. But two things, its not reliable as you already know and fuel economy is like a SUV. It is not a good city car, you have drive it at higher rpms to generate power. Auto has less power and manual has more. So pick up the manual if you can since you haven't mentioned it. Also you didn't mention its service history and how many miles done.

With all things considered, i wouldn't pay anything more than $10k. Do look up on kbb.com/used-cars. Get all options and see how much they value it. The price is always less than kbb quoted. So you can show that to your colleague and decide on price that way. For 2005, dealers are selling it for $11k-$13k, so as a private party, it will be atleast $3000 less, so you can pay around $8k-10k max. hope this helps.

get a honda s2000, nissan 350z, toyota celica or scion tc for such price and year. These are hoot to drive, reliable and fuel efficient.

just my two cents.
Thanks for the advice.
I've checked out KBB and it says that a good price from a private party for such a car with all the options is about 13k for a car in good condition.
Fair condition is about 12500.

The dealers around my place are asking for about 14000 for a similar model.

I was checking out the rx8 forums (rx8club in particular) and a lot of people there seem to think its a good price, especially for a car in this area.
I'm thinking of negotiating a deal for 10000$
But before that I would like to get the car checked at the local mazda dealer.

Oh yes, its a manual transmission and it has about 70000 miles on it.

I've looked around for a Honda S2000 but the cheapest one I found was a 2001 model for about 14k from a dealer. I've scoured craigslist, autotrader and a local paper too but no luck. Maybe i'm being a little impatient but my heart is pretty much set on the RX8
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Old 14th August 2011, 07:17   #430
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Default Re: Buying a car in USA. New, used, etc.

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Originally Posted by chevelle View Post
Sorry for delayed response.

The payments on websites are bit over the top. When i was looking online, it was showing way more. When you go to dealer, you get ability to bring that price down by discounts and APR. New car APRs are 0.99%-2% and in some case 0% for first 6 months and then 1%. So it is better to shop with dealers. So even for 24 months it will go down.
Secondly, since you are here for two years, i would say, keep your budget to <= 10,000 USD. Get pre owned from a private owner and have fun. You will get good cars in good condition at that price. The reason is, you will stand to loose lot of money if you buy new and then sell it. Now a days, all entry level sedans are commanding premium because of gas prices and wait time. So a $17000 civic LX is being sold for $20,000. These are dealer mark up and there is no escaping it. The disadvantage is, you should have cash in hand and you can bring down the price to a whole lot than you can with dealers. Example - 2000 acura TL of my friend was quoted $5500, we managed to bring that guy to $4100 and bought it at that price. Also for DMV fees, he agreed to write $1000 so my friend paid very less DMV fees. As i said, cash is king. Show them cash they will willingly let it go for a little less price.

I just read yesterday that used car prices are very high now a days. Especially Japanese cars which are reliable. So do inquire a lot before taking the plunge.
Once again, thanks a bunch. I guess cash would be difficult for me - though it would probably be a couple of months or more to get SSN, drivers license etc, I'm not sure if my savings will be big enough to put cash down on a car . Perhaps I could save up for 6 months, renting cars in weekends and using public transit. I always used to wonder why my friends take so long getting a car in US when it is such a necessity; now it makes sense .
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Old 14th August 2011, 08:53   #431
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Default Re: Buying a car in USA. New, used, etc.

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Originally Posted by rajushank84 View Post
Also, when a person lands there and just gets his drivers license, will the car/insurance companies consider the date on the Indian driving license as "experience"?
Regarding this, my insurance company - Geico did consider my Indian driving experience. So make sure you bring it with you.

Quote:
Originally Posted by rajushank84 View Post
Once again, thanks a bunch. I guess cash would be difficult for me - though it would probably be a couple of months or more to get SSN, drivers license etc, I'm not sure if my savings will be big enough to put cash down on a car . Perhaps I could save up for 6 months, renting cars in weekends and using public transit. I always used to wonder why my friends take so long getting a car in US when it is such a necessity; now it makes sense .
You can buy a car after couple of months. You have to take care of other expenses too, so car priority takes backseat.
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Old 15th August 2011, 00:18   #432
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Default Re: Buying a car in USA. New, used, etc.

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Regarding this, my insurance company - Geico did consider my Indian driving experience. So make sure you bring it with you.
Just discovered that my Indian driving license has a minor spelling mistake in the lastname, so I guess it will be rejected, right?

I am regretting being lazy to get that changed then and there when I got my license .
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Old 15th August 2011, 08:32   #433
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Default Re: Buying a car in USA. New, used, etc.

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Just discovered that my Indian driving license has a minor spelling mistake in the lastname, so I guess it will be rejected, right?

I am regretting being lazy to get that changed then and there when I got my license .
I didn't show them my license. They just asked verbally. Do carry it even though you don't get your last name changed.
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Old 15th August 2011, 12:04   #434
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Default Re: Buying a car in USA. New, used, etc.

maranellored

If your considering a Honda S 2000 you may also want to consider a Mazda Miata.

Although the horsepower is less the handling is just as good if not better with fully independent suspension.

The Miata has either an automatic, a 5 speed manual or a 6 speed manual transmission. The horsepower is rated around 140 and the car weighs about 2600 pounds (~1180 Kg).

Because they are less powerful when compared with a RX8 or a S 2000 the insurance is usually less.

Their reliability is among the best available and they are a total blast to drive. (I have a 1999 Miata 10th Anneversary model).

I would post a photo of my car but I'm having difficulties getting the Manage Attachments button to work.
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Old 16th August 2011, 02:15   #435
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Default Re: Buying a car in USA. New, used, etc.

Forgive me, but more as a test to see if I have figured out how to upload a picture to the forum or not I will try to post a few photos of my 1999 Mazda Miata 10AE.

In the U.S. these cars are available ranging from 1989 thru 2011 models.
The Miatas prices vary from $5,000 thru $25,000 (US dollars), seldom being lower than $5K.

The 1999-2002 vintage cars are often in the $6K-7K range and as I mentioned, unless they have been raced and are in poor condition they are excellent cars with very few problems.
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