Car Shopping for the Reluctant Spender

Being forced into the reality that we have to purchase another car is probably the worst part of this entire accident ordeal ( obviously since Buzz is fine!) I have enjoyed six years without car payments, and loved every minute of it. I am suddenly forced to admit that without my fail safe Saturn around, the Navigator is in it's last days. I need something reliable and safe.

Car shopping itself is a dreadful undertaking for a tightwad. If you look at used cars, there might always be one that has just one more option for a thousand less around the corner. If you choose to buy new, you have to take heavy sedatives as soon as you arrive home after driving it off the lot to emotionally handle the huge depreciation you just experienced.

For me, who has contentedly driven my husband's payment free hand-me-down, I realized I had a great deal of homework to do. Since I never wanted new payments, I never spent any time coveting cars the way some do. As such, there are so many new cars out there it is mind blowing. There are even whole new categories, like crossovers; there are also hybrid versions of many styles for consideration.

While I am a strong believer in purchasing used cars, the incredibly low financing deals on used cars right now is making that the better option. The holiday weekend advertisements of 0% financing spurred me at least start looking within my comfort zone: the Internet. It's such a great source for gathering information, and I found I easily paid attention to things like wheelbase and engine size in this format. After an initial case of sticker- shock -induced shortness of breath, I came up with a list of at least two vehicles from five different manufacturers to compare in both the crossover and sedan categories. The side-by-side comparisions option at Cars.com is incredibly helpful!

Still, the idea of facing salesmen made my stomach flip. I understand they are eager to make a sale, but I need silence to focus on the task. We spent July 4th driving around to various dealers just looking at cars and handling the sticker, mileage, options learning cruve while not being accosted. This was so helpful, as actually seeing the cars changed my views. We were again able to narrow down a number of strong competitors.

We drove to another dealership that heard was open, and I test drove a few vehicles. Test driving is moot for someone like me, who has been driving a decade old beast with mushy suspension and loose handling. They all feel amazingly tight and smooth. More important is the comfort of the driver's seat and my field of vision. I am more impressed by spill-proof cup holders , sun roofs, and cargo space!

It was an informative afternoon, but I left feeling a bit pressured to make a decision in two days, as Chevy's zero-percent financing sale is only until Monday. There were still all the other cars to see, and any decision this big takes a long time for me to percolate. I plan on keeping this next car for at least 8-10 years, so I can't be rushed into a relationship that long. So mcuh depends on my future goals. I am certain that I am done with SUVs, but do we want a crossover, or is it time to step back into a car? Gas mileage is an obvious considerations, but is a hybrid cost effective for an annual low miler like me?

I made a call to a friend who works in auto finance, who shared that less than a third of folks who apply for the 0% actually are approved, as the base credit score is usually over 700 for consideration. Often, the financing terms are shorter, so the monthly payments are extraordinarely high. He also shared that most of the big manufacturers will continue to have these specials all summer, and especially in September, when they have to get rid of the over stocks. Considering the car, it might be a better deal to look for rebates and other incentives.

The kids are really interested in this whole process. Always looking for learning moments, we are going to involve them every step along the way. Not only are lessons on finance good, but even those dealing with choice and options. Wish me luck in my search!