Car- buy now or buy after 3 months

[schinnaraj]

Hi,

I was shopping for a new car (Toyota Corolla and Honda Civic) and I think I found a pretty good deal. Toyota is giving 0% APR for 60 months and Honda is giving 1.99% + $1000 discount.

Only problem is, I'm going to India next week with my family and will be returning by first week of June. My family members will be returning only in August. So I really don't need a car until August since I can use my wife's car.

I'm wondering whether I should buy the car now or should I just wait for couple of months and shop again hoping to get similar deals.

Can someone give your opinions/suggestions?

Thanks in advance,
Saran

[kkr]

Hi,

Do you know the expiration dates of these deals? If they don't expire for a while, you may be able to buy after your return. Also, I suggest finding out when the new 2011 models of Corolla and Civic will be on the market. Generally, new year models come in August/September and if the dealers have excess inventory of the current year cars, you can get a good deal regardless of the manufacturer incentives. Another factor is whether you need financing or not. If you don't, their APR offerings don't matter. If you do need it, it might be worth checking with banks/credit unions on the best rate you can get for your credit history. You may be able to get a good rate not much above 1.99% on your own later. No easy answers, you just need to consider these factors and decide what works for your situation.

[stup123]

i wouldnt buy
buy it when you really need it
why pay insurance and depreciation from now on when you wait for a while
who knows,you might get a better deal
i dont think you will miss this deal..second half of the year should be better to buy..i'd hold out

[schinnaraj]

Hi,

Do you know the expiration dates of these deals? If they don't expire for a while, you may be able to buy after your return. Also, I suggest finding out when the new 2011 models of Corolla and Civic will be on the market. Generally, new year models come in August/September and if the dealers have excess inventory of the current year cars, you can get a good deal regardless of the manufacturer incentives. Another factor is whether you need financing or not. If you don't, their APR offerings don't matter. If you do need it, it might be worth checking with banks/credit unions on the best rate you can get for your credit history. You may be able to get a good rate not much above 1.99% on your own later. No easy answers, you just need to consider these factors and decide what works for your situation.

Yes, I'm looking for finance. Honda deal is getting over by tomorrow and Toyota by May 3rd, so both these deals will be over very soon. I will check with other banks and see how much interest rate I would get. Thanks very much for your opinion.

[rajsriadit]

Check these sites for buying tips

http://www.edmunds.com/advice/strategies/articles/103034/article.html

http://www.carbuyingtips.com/
http://www.carbuyingtips.com/cardeals.htm

[schinnaraj]

Thank you all for valuable suggestions, I decided to buy later hoping that similar deal will come again.