[mac187]

Folks,

After a long break of 6 years, I am back in the market for buying a car. I moved to US of A with my company. Currently in Texas, Plano. Last 6 years I was in Singapore, I only rented cars on weekends or for some specific need. Never needed a car, hence didnt have one. The itch was always there and I was going to the online sites always looking for a good deals. Helped friends and colleagues buy cars which gave me satisfaction. Like they say, always the bridesmaid...

Now in Plano, I can finally get my hands on a car, my car. I am excited, my family is excited. I will give a quick overview of my currently situation so that members have the context.

- My job doesn't require me to go to office everyday. The commute to office is 20miles one way. I work in business development, hence will be traveling to different cities within NA often.
- Kid's school is a mile away, drop and pickup is needed. We are a family of 3.
- Currently living in an apartment with one covered parking. There is lot of space available for open parking, which is free.
- Commute to groceries, other shopping is maximum 40miles. This maybe once a week. Signed up of for membership with Walmart, one of the perks in free delivery.
- Wife doesn't know to drive. She is willing to learn. Looking forward to it actually.
- Got a pre-approved auto loan at 4.7% from a credit union. Valid only for 2022 or 2023 models i.e. new car only.
- I knew I was going to move here a while ago, I have saved up over $50k specifically for a car.
- Thinking of SUV purely from long drive and stuffing luggage. We are a family of 3 but pack for a family of 10!

Enjoyed every bit of driving around in the rental which was a Dodge Charger. I am still learning about the process of owning a car in Texas. Yet to apply for my drivers license here. Currently using my Singapore driving license for rentals. Pointers to getting driving license for self and driving classes for missus will be appreciated.

Dilemma: New or used?
My mental budget on each
Used: $35K | <100k miles | <5years
New: <$60K

I follow Doug DeMuro on YT, got fascinated by Jeep Grand Cherokee, Kia Telluride, Hyundai Palisade, Mercedes GLB. Recently got a chance to ride in BMW X5, Range Rover Evoque loved it. Did research on these, limited to YT. I visited only Jeep showroom till now, as it was on the way to the furniture mart. Test drove Grand Cherokee, it was good. They didn't have the top trim for test drive, maybe thats why I left feeling a bit underwhelmed. I haven't visited any other showroom as I was busy setting up the apartment and settling into my work.

Like I mentioned, I knew I was moving here a while ago, been going through carmax, truecar. The prices of secondhand cars <5years old are insane. Others have lots of miles on them, I am not sure what the maintenance cost is going to be.

While I have nothing against brands like Toyota, Honda or Nissan. I want a car which can bring a smile on my face every time I start it up. A car I will want to look back while walking away.

Lastly, I am not keen on EV at this stage of my life. Maybe its me trying to hold on to my youth for little longer.

Anyone living new Plano, drop a note. Looking forward to connecting with Bhpians and attending the meet-up.

[Jeroen]

I would never ever buy a new car in the USA. For that kind of money you can buy an excellent Second hand Jaguar or even a Masseratti! You might want to consider a Range Rover? Anything but some US crap car, or worse boring German.

But then again, you are in the USA, the havanna of car world. Whatever you do, with your budget, buy with your heart, not with your mind!!
Good luck
Jeroen

[mazda4life]

Welcome to US, things have changed when it comes to US car market and it is now an out and out sellers market and I bought a new car recently and loving it. Obviously I wasn’t prepared to spend the amount you have earmarked but still wanted to share some things which you might want to consider:
1. Get the US driving license first , lot of things are dependent on that like insurance rates , interest rate if you are applying for a loan
2. Good second hand / used cars are hard to get and from my experience there are hardly any good deals for cars with a clean title
3. Bargain hard with multiple dealers and be prepared for the long haul
4. I enrolled into the Costco auto program which was good to have the dealers talk to you in brass tacks
5. Don’t rush to purchase a car and if u can afford have a rental / Lyft for immediate needs as there is a waiting period for almost all new cars
6. Talk to locals and see if the local taxes applicable varies by the zip code ( I stay in North Phoenix but bought from Mesa)
7. Don’t go thru FB market place due to dodgy deals
All the very best in your car hunting.

[mac187]

Originally Posted by Jeroen

I would never ever buy a new car in the USA.

Unfortunately, the used car prices are ridiculously high. 2 year old BWM, Merc's are priced at 5~7K lesser than new ones.

Originally Posted by Jeroen

For that kind of money you can buy an excellent Second hand Jaguar or even a Masseratti! You might want to consider a Range Rover? Anything but some US crap car, or worse boring German.

The only thing holding me back is the cost of maintenance. When I owned cars in India, I used to get it serviced through trusted FNG. Even if things went wrong the cost to fix it wasn't that high. Once we start talking RR or Jag a small issue may end up costing alot. I am not sure how good are the service packs the dealer hawk.

Originally Posted by mazda4life

Welcome to US,
1. Get the US driving license first , lot of things are dependent on that like insurance rates , interest rate if you are applying for a loan
2. Good second hand / used cars are hard to get and from my experience there are hardly any good deals for cars with a clean title
3. Bargain hard with multiple dealers and be prepared for the long haul
4. I enrolled into the Costco auto program which was good to have the dealers talk to you in brass tacks
5. Don’t rush to purchase a car and if u can afford have a rental / Lyft for immediate needs as there is a waiting period for almost all new cars
6. Talk to locals and see if the local taxes applicable varies by the zip code ( I stay in North Phoenix but bought from Mesa)
7. Don’t go thru FB market place due to dodgy deals
All the very best in your car hunting.

Thanks for the welcome, mazda4life.
1. I was told that I can buy a car based on my Singapore license. I have 90days within which I need to get a Texas license. I wasn't aware that it will affect the interest rate. As I mentioned in post. I already have a pre-approved auto loan @ 4.7%. Need to read the fine print though.
2. Used car prices are through the roof. 15 year old Honda, Toyota are being sold at $10K.
3. This I am yet to try. I need to start visiting dealerships and understand the cost structure. Not sure how much I can bargain when dealers are adding $3k~5k on fast moving models. I will have to build and wait.
4. Need to do this one, we landed there without our passport hence couldn't get the membership.
5. While there is no rush per se. You end up postponing things to avoid hailing cab. I lived exclusively on cabs in Singapore, were I felt cost per km/mile was cheap. I feel its expensive here.
6. This is a good point, I will check-up on it.
7. FB is filled with blue, rebuilt and salvage title. I don't really know what it means from a day to day perspective. From what I have gathered with these kind of title I can buy only third party insurance cover and have to take care of any expenses in fixing up the car out of pocket. Blue title is without airbags, which is a big NO from me.

Thanks once again, I am looking forward for the showroom visits and experience the cars first hand.

[mazda4life]

Originally Posted by mac187

1. I was told that I can buy a car based on my Singapore license. I have 90days within which I need to get a Texas license. I wasn't aware that it will affect the interest rate. As I mentioned in post. I already have a pre-approved auto loan @ 4.7%. Need to read the fine print though.

Ideally you should be looking around 2.99% in the current market scenario. I would urge you to get the local license and try to get a better deal ( if you are talking to Mazda or Toyota, have them check with the Toyota Visa program).

[condor]

Since you are open to used cars, Check out the lease return cars. The running on these would be lesser than other cars, and the maintenance should be better too. After my first car - a new Accord, the next two were lease returns. Both these were from the same dealer - an Acura 3.2TL and a CR-V. Both ran just fine, and I had paid much less than a new one.

[libranof1987]

Originally Posted by mac187

- Got a pre-approved auto loan at 4.7% from a credit union.

As mazda4life said, get the US DL first. Not only can that affect your loan rate, it will also affect insurance quotes. So, for your wife and yourself, get the DL.

Also, 4.7%?! That's crazy high. Even assuming a lack of credit history, you should be able to get a much cheaper auto loan, say around 2-3%. Check with your Sales Advisor; a lot of dealerships have Asian SAs who are very resourceful in getting good deals.

Look up DCU: https://www.dcu.org/

Dilemma: New or used?

Once you have a car shortlisted, check up CPO (Certified Pre-Owned) cars at the dealer lots. CPO cars are always < 3 years, and generally very low miles, and come with warranty and possibility of extended warranty.

[GTO]

I would've normally said "pre-worshipped", but the used car market in the USA is currently insane. I hear of people selling their 2-year old cars for a profit.

Go for new. In fact, in the current climate, even leasing isn't a bad option. The German luxury brands have such strong residuals that they make leasing very cheap. Surely an option to consider.

Cars I would shortlist for 60k: C8 Corvette (yeah, will need to stretch), M2, M340i, Dodge Charger (the crazy versions), pre-owned Mustang GT350...wild man, go out and have some fun.

[mac187]

Originally Posted by mazda4life

Ideally you should be looking around 2.99% in the current market scenario.

I do not have credit history here. My unsecured credit card request at BoFA got declined, twice!! where my company supposedly has a preferred employer status!! Making do we a secured credit card for now.

Originally Posted by condor

Since you are open to used cars, Check out the lease return cars.

Thanks for the pointer. Is there any website specifically for lease return cars? I have come across them only in carmax website. Sometime the same car has both lease + fleet as previous usage, I am not comfortable with this. I feel the cars maybe handled rough in a fleet scenario, Open to learn more about it.

Originally Posted by libranof1987

As mazda4life said, get the US DL first. Not only can that affect your loan rate, it will also affect insurance quotes. So, for your wife and yourself, get the DL.

Yup, I am finding out details about it.

Originally Posted by libranof1987

Also, 4.7%?! That's crazy high. Even assuming a lack of credit history, you should be able to get a much cheaper auto loan, say around 2-3%.

I know a guy who was sold car loan at 15% by the dealer because he didn't have credit history. Another was quoted 29%, thankfully the second guy walked.

Originally Posted by libranof1987

Once you have a car shortlisted, check up CPO (Certified Pre-Owned) cars at the dealer lots. CPO cars are always < 3 years, and generally very low miles, and come with warranty and possibility of extended warranty.

I checked CPO at BMW and Merc dealers, the price difference between a new car and CPO is hardly 5~8K. I know that they will further try to upsell maintenance and other packages.

Originally Posted by GTO

Go for new. In fact, in the current climate, even leasing isn't a bad option. The German luxury brands have such strong residuals that they make leasing very cheap. Surely an option to consider.

Not sure how that would work for me as I do not have a credit history here. I will check it out.

Originally Posted by GTO

Cars I would shortlist for 60k: C8 Corvette (yeah, will need to stretch), M2, M340i, Dodge Charger (the crazy versions), pre-owned Mustang GT350...wild man, go out and have some fun.

All great options, I still have a daughter and as I mentioned early our packing skilled are poor. I am looking to do long drive with family. We did have fun in the rental Charger, but the interior quality is now where close to what one will expect today.

Maybe few years down the lane when I am completed settled, I will look for a fun car for myself.

[condor]

Originally Posted by mac187

Thanks for the pointer. Is there any website specifically for lease return cars? .

I had seen an old car with the For Sale placard at the Acura dealership. I walked in and asked about it, and got the car. However, this was 20 yrs back. You can check with local dealerships - also if they have inventory of cars in the area. Normally, they do.

[ariendj]

I have had few friends who were in your boat regarding the credit line but they did get cars using their Payroll slips and visa details.

You have some good choices if you want bigger vehicles but some options which are fun and don't cost as much are Kia Stinger, Mazda 2.5 Turbo, Acura RDX.

On a side note, I used to drive the Audi Q7 with 333bhp that was fun to drive but it slowly started getting a little too much to push around for mundane stuff like grocery shopping and drop off to school.

The only reason I wouldn't go for an EV would be if I didn't have a way to charge it at home/ apartment. Otherwise its the best option at a time like this when petrol prices are high and the fun to drive factor. Just curious, did you test drive or experience an electric vehicle?

[AROO7]

Originally Posted by mac187

- My job doesn't require me to go to office everyday. The commute to office is 20miles one way. I work in business development, hence will be traveling to different cities within NA often.
- Kid's school is a mile away, drop and pickup is needed. We are a family of 3.
- Currently living in an apartment with one covered parking. There is lot of space available for open parking, which is free.
- Commute to groceries, other shopping is maximum 40miles. This maybe once a week. Signed up of for membership with Walmart, one of the perks in free delivery.
- Wife doesn't know to drive. She is willing to learn. Looking forward to it actually.
- Got a pre-approved auto loan at 4.7% from a credit union. Valid only for 2022 or 2023 models i.e. new car only.
- I knew I was going to move here a while ago, I have saved up over $50k specifically for a car.
- Thinking of SUV purely from long drive and stuffing luggage. We are a family of 3 but pack for a family of 10!

First of all, as one of the member pointed out the interest rates you have quoted is steep. Somewhere between 2% and 3% APR is the sweet spot.

Seeing the current used car prices I would advise you to stay away from them.

For a new car and looking at your requirements I won't recommend Ford Mustang or Chevy Camaro as both are just two-seater and have next to nothing in terms of boot space. In this category, the Dodge Charger Scat Pack falls within your budget. A proper four-door sedan with a Hemi V8 will ensure you have loads of fun without sacrificing practicality.

Next up on my recommendation list is the Genesis G70 sedan, powered by a turbo-four it is the closest you can get to European pedigree without breaking the bank. The third car I would recommend looking at is the Toyota Camry TRD, which gets a V6 and exterior shenanigans to qualify as a fun-to-drive sedan and starts at $32,910. Buy it and you will still have money left to get yourself a Hyundai Accent base model.

If you are okay with plug-in hybrid Toyota RAV4 Prime is another good crossover to look at, starts at $40,300. Next up I would recommend shortlisting the BMW X3 xDrive30i starts at $45,700, comes with a turbo-four, and does 0-60 MPH in 6.0 seconds flat. The sixth car I would recommend is the Acura MDX which gets a 290-hp V6 as standard and starts at $48,000. But if you can stretch your budget to say $66,700 you can get the MDX Type S which comes with a 355-hp turbo V6. Trivia, it is the only SUV to have the Type S moniker and the only other cars that get it is the NSX and TLX.

From the Audi stable, you can look at the Q5 SUV or the A5 sedan both start under $50,000. Offer loads of tech and are a good pick among the Europeans. Still, if you can't get your dream car I suggest searching for articles like fastest cars under $50,000 or best cars to buy under $50,000. Stick to big and reliable media pages like caranddriver, motortrend, carusnews, edmunds, etc.

Originally Posted by mac187

Thanks for the pointer. Is there any website specifically for lease return cars? I have come across them only in carmax website. Sometime the same car has both lease + fleet as previous usage, I am not comfortable with this. I feel the cars maybe handled rough in a fleet scenario, Open to learn more about it.

For lease return cars and lease deals, you need to check the dealer website nearby you.

[landcruiser123]

Originally Posted by mac187

While I have nothing against brands like Toyota, Honda or Nissan. I want a car which can bring a smile on my face every time I start it up. A car I will want to look back while walking away.

Originally Posted by mac187

Maybe few years down the lane when I am completed settled, I will look for a fun car for myself.

Based on my experience, 4.7 % is a good rate for someone with no credit history. Try refinancing after 6-9 months. Also, most lease cars go as on the lot as CPO(Certified pre-owned).

Considering that you're looking for a starter SUV which is fun also to drive - Why not check the Mazda CX-5 (or the CX-9 if you must have 3 rows)? They punch above their weight. The CX-5 with the 2,5 turbo is a hoot to drive. (you could also save a big chunk of $$$ for your second fun car)


Considering gas prices and the fact that you are considering buying another fun car in a few years, I'd buy a Toyota hybrid SUV - RAV 4, Venza, Highlander. Pick based on size.

[amol4184]

Originally Posted by mac187

While I have nothing against brands like Toyota, Honda or Nissan. I want a car which can bring a smile on my face every time I start it up. A car I will want to look back while walking away.

Mazda CX-50 (or CX-5) Turbo AWD.
Both these cars looking smashing, are fast, have TC AT, fantastic interiors and did I mention the looks?

You may also wait for CX-70/90 which will use new, bigger engine and both fall well within your budget.

Or, and I didn't see it mentioned here : Subaru WRX.
Despite the questionable looks and same power as previous gen, it's a bonafide fast car with loads of utility and tons of potential to customize it. The market is rife with off the shelf go fast bits for WRXs. Even if you are not into it, stock car itself is a hoot to drive.
In SavageGeese's words "In real world you don't drive the spec sheet, you drive the car".

All the best!

[showboat]

In general prices are still a little crazy for new cars with dealers having insane markups. Rav 4 Primes (a great choice) were 15-20k$ above MSRP. If you go with luxury brands the markup is much less right now and you will be getting what you pay for.

I would highly recommend the car that's in the picture for the thread, the Kia Telluride. Its got a well-powered engine, but not a driver enthusiast car per se. The more important things:
* It has really good lane keep assist and that's going to be a boon on the long Texas highway drives.
* The third row may provide some value when extended family comes to visit or go on a trip with another family.
* The boot is extremely large for a non-Suburban full-size SUV.
* If you go with the Nightfall edition it looks impressive too.