An Update From A Car Buyer

Follow Up Comment: A little update to my situation and a sober warning for other buyers looking at used cars. Before paying for the car in full I had it thoroughly checked out by a mechanic. Apparently the entire transmission was in dire need of work and was going to cost approximately $3000 to repair. Of course I took the car immediately back to the dealer and got my deposit back. I hope my experience reminds people that a clean Carfax report does not mean a car is in good shape mechanically.
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Toyota considers using American base for exporting to Middle East and Asia

Increasingly sluggish SUV sales, rising material costs and the strengthening Yen are all reasons for why Toyota plans to begin shipping automobiles manufactured in the United States to the Middle East. The credit crunch coupled with increasing oil prices has forced many Americans to move away from giant, gas-guzzling SUVs into more energy efficient sedans. Today oil reached a new high of over $129 a barrel with no immediate slowdown in sight.
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A 2010 deadline forces manufacturer to work overtime

After losing $1 billion on the development of the EV1, General Motors completely dropped any serious discussion on building a green vehicle. However with gas prices hitting new highs and competitors starting to adjust production to consumer demands, GM is starting to feel the pinch in their pocketbook – the auto manufacturer recorded a $15 billion loss in 2005.

That’s enough to get anyone to shift gears from their current business model into a more consumer-centric one. SUVs are losing their appeal as gas prices continue to rise. GM has recently decided to drop production on a new sedan and minivan in order to support the $8.1 billion research and development budget focused primarily on green vehicles.
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Question: Not sure if this is the right place to ask this, but…
My wife and I are looking for a used 2004 Honda Odyssey EX-L, with decent/low miles….I’ve noticed there are lots of people in Atlanta selling lease returns for good prices so i’m guessing that honda has lease auctions there…Is there anyway to find out of there’s lease auctions in my area or a way to buy it wholesale? Thanks!
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Question: Do you know if an engine replacement devalues a car? Does this show up on carfax?

Queen of the Road: Hello there.  If the car has aged and has a heavy number of miles, it is practical to replace the engine. However, if the car is fairly new and you replace the engine, it won’t help you sell. It’s likely to show up on Carfax if you replace the engine at a dealer or a franchise mechanics shop that reports it to carfax. Small time mechanics don’t report to carfax. So if you replace the engine with a family-owned or smaller repair shop, it may not pull up on the carfax report.

Question:  Ok, here’s another I’m looking at:

Hyundai Veracruz.
2007 Veracruz SE AWD

I don’t think I can get any other rebates as I currently have a Santa Fe I will probably want to trade in. I’m constantly getting letters from them to trade it in (wonder if that means they’d give me a great price for it.  )

I seen other sites which state you can get $3k under invoice (that includes a rebate) but anything tips or realistic prices (in Colorado)?
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Question:   Is it reasonable that I would have to pay $23,615 plus a $498 dealer fee and of course, sales tax for a 2008 Prius with option #2?

Queen of the Road:  That’s a very good question! First of all, you can bargain that price of $23,615 down more.
For a 2008 Toyota Prius 4dr Hatchback (1.5L 4cyl gas/electric hybrid CVT),

The Lowest Internet Price: $22,745
MSRP: $23,837.00
ePrice $22,745.00
Savings: $1,092.00
% OFF MSRP: 4.58 %

2nd Lowest Internet Price: $23,075
MSRP: $23,759.00
ePrice $23,075.33
Savings: $683.67
% OFF MSRP: 2.88 %
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Question: What is the best looking color for the 2008 Mitsubishi Lancer GTS in your opinion?

MuscleCarGuy: Color preference is a personal issue. My preference is black, although it is the worst color to keep clean everyday. I always say that my next car won’t be black, but my last 3 were black and probably the next one will be too. I also like the gray and silver because dust and small scratches are not as noticeable.

Question:   I’m looking to buy. Any suggestion on where to purchase? What auction(s) do you use? Is it better to buy it from a dealer (probably would pay more) vs individual? I don’t have experience at car auctions. Thanks

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Comment:   Buying new is such a bad investment !

Queen of the Road:   Buying new is a REALLY bad investment but if you have a business and can use a lease as a write off that’s not a bad deal. There is nothing wrong with buying new and not everyone cares about doing whats best for their pocket books long term. Short term, many new cars offer zero percent financing and other ways to lower that monthly payment. For many people the payment is the most important thing rather than the total price of the vehicle. We used to be new car snobs but have converted. Buying something 90% new for 75% of the price is a good value in my humble opinion. The only time I buy new is when its a family discount with Totyota/Lexus.
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