Author Topic: Used Car Purchase Decision  (Read 1901 times)

rickpeyton

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Used Car Purchase Decision
« on: October 05, 2013, 01:29:20 PM »
This is my first post. Thanks for having me! Feel free to be brutally honest as, as I understand it, that is what this place is about. I am also running this question by my group of money mentors this afternoon, but wanted this forum's take also.

Current Vehicle
2006 2 Door F150 STX with 85K miles

Vehicle of Interest
2006 5 Door Pontiac Vibe with 130K miles

I would need to come out of pocket approximately $750-$1000 to make this deal.

Reasons I would make the deal

The Vibe fits our family better (seats more than 2, could hold a car seat, pet friendly) and would offer approximately $1500 a year of fuel savings

Reasons I wouldn't

$1K for 45K more miles is a lot even though the 85K are hard miles (was in an accident with extensive body work before I purchased it plus it needs a brake job, paint job, a new rim and has about 10K to 15K miles left on the tires) on the F150. Would the fuel savings exceed the maintenance costs? I don't know how to calculate that. There is deferred maintenance on the F150 however which is somewhat of an equalizer.

I can provide more info if necessary, but what do you think?

Ottawa

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Re: Used Car Purchase Decision
« Reply #1 on: October 05, 2013, 01:51:07 PM »
You probably need to supply more information. 

Why are you keen on the Vibe (other than you have certain mentioned requirements)? 
Where are you located...are there other Vibes?
How much is the Vibe asking price?
What model is the Vibe?
What do you think you can get for the F150?

You should probably see what comparative ones in your area go for on the "Appraisal" section of this
http://www.edmunds.com/pontiac/vibe/2006/consumer-reviews.html

Consumer rating at edmunds is high...

Be aware of the recalls here:
http://www-odi.nhtsa.dot.gov/owners/SearchVehicles


rickpeyton

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Re: Used Car Purchase Decision
« Reply #2 on: October 05, 2013, 02:13:01 PM »
Why are you keen on the Vibe (other than you have certain mentioned requirements)?
I like the fuel economy of a compact, but would benefit from the additional space offered by a compact wagon / hatchback. From my reading the Vibe/Toyota Matrix are essentially the same vehicle so that is interchangeable, but a Focus hatch, Mazda3 etc would be of interest to me. Sounds like the Vibe has more head room (I'm 6'1) than some of the other compacts.

A sedan is a consideration, but a hatch/wagon would allow me to haul around my golden retriever, pine straw, whatever, more conveniently. This part is obviously a want.

Where are you located...are there other Vibes?
I could not find a Vibe or Matrix within 150 miles in my price range. I have only researched online - I haven't checked out the local buy here pay here lots. I am located around Birmingham, Alabama. 35124 approximately.

How much is the Vibe asking price?
$5950

What model is the Vibe?
Base model with an automatic transmission, power windows, locks and a sun roof.

What do you think you can get for the F150?
I'd like to trade in the F150 and would be seeking $5000. I know I could exceed that in a private sale, but I am hesitant to do a private sale given the deferred maintenance. Thoughts on that?

Good tip on the recall site. Thank you.