Automotive

First new car advice

  • Last Updated:
  • Mar 21st, 2017 10:54 am
[OP]
Newbie
May 24, 2015
7 posts
Westmount, QC

First new car advice

Me and my husband are buying our first new car after driving old junker for years. We are very frugal.
We are thinking about the 2017 Chevrolet Spark LT CVT 16,995$. Not the most reliable car but very cheap and we could pay it fast on our budget.
We are thinking of buying it over 48 months with a 0.99% interest rate.
We are getting a 750$ rebate because of the auto salon rebate and 500$ because of a student rebate. My husband also had the account fees of 399$ waved.

We are also looking at the Honda Fit, a vehicle that seems more practical and reliable but we cannot pay it in 48 months and we could not get a better price than the MSRP.

Is it true you can't really negotiate a new car in this category? Would it make more sense to lease?

Thank you for your advice
23 replies
Member
Oct 16, 2015
394 posts
212 upvotes
Quebec
$17K for a tiny Spark is overpriced for the quality and the size of the vehicle - the Spark only makes sense when buying the absolute base model.

Can you drive stick-shift? If you want to stick with Chevrolet and want something frugal, the base model Cruze L (with a manual) is a much better bet. Stretch to 60 months rather than 48 (48 is hard to do and you have to make too many compromises), you can still get 0% financing. Including all Quebec taxes but with no additional discounts at all, you can purchase at $325 per month:

2017 CHEVROLET CRUZE L MANUAL
4dr Sedan
1SM Package
MSRP* $16,095
Total Credits - $1,000
Freight, A/C Tax & Dealer Fees + $1,850
Down Payment - $0
Trade-in Value - $0
Other Credits - $0
Sales Tax (5% GST,9.975% PST) + $2,612
BALANCE $19,557
Finance
60 Months Term | 0% (0% APR)
Estimated Monthly Payment $325

Add your student and auto salon credits and the payment will be lower.

Otherwise, if you can't drive stick-shift, look at the Hyundai Accent LE Auto, there are some good rebates there.
Jr. Member
Oct 21, 2006
186 posts
46 upvotes
If you are very frugal then why not buy used?
Deal Addict
Aug 10, 2013
1124 posts
527 upvotes
Toronto, Ontario
You "should" be able to get a Honda Fit for less than msrp. Should probably check in with unhaggle to see what the invoice price is.

As most say, the Spark is a less than ideal choice. You may be frugal but are you going to sacrifice comfort and long term reliability to save a few bucks? Think of how many butt hours are in a 200k vehicle....
Typical car and law enforcement enthusiast
Deal Fanatic
User avatar
Jul 12, 2003
7529 posts
775 upvotes
Markham
If you are going to drive the car for many many years, I would get something better. Everyone is frugal in RFD, lol

Spark is almost like the cheapest but also among the worse car you can get in the market. However cheapest doesn't mean to have the best value.
Retired Forum Moderator February 2009 - June 2015
Jr. Member
Nov 11, 2013
150 posts
112 upvotes
Calgary
Take that 17k and buy a used Honda Fit, the spark will depreciate like a rock once you drive it off the lot.
Deal Addict
User avatar
Jan 10, 2004
2939 posts
566 upvotes
Edmonton
I'd try and find a 1-2 year old car with low mileage..that should open your choices a fair bit. But, most likely you'll be paying a higher interest rate so you have to crunch the numbers to see what's a better deal.

If you're only saving a few thousand on a used model, but you've lost say 2 years of warranty, you'd have to decide if that warranty is worth the piece of mind.

A chevy spark hits a certain price point, but I'd rather have a slightly used car than drive a little tin can on wheels.
Deal Fanatic
Oct 7, 2010
7797 posts
688 upvotes
Spark is not frugal. The cheapest car to get is a Nissan Micra.
Sr. Member
Feb 19, 2017
720 posts
318 upvotes
Jigsaw wrote:
Mar 19th, 2017 9:04 am
If you are very frugal then why not buy used?
From personal experience if financing the interest rate on a used car is often madness in comparison to new. So if they gotta finance new can usually make more sense
RFD is love. RFD is life. I wish I had an RFDer for a wife.
Banned
Jan 9, 2017
225 posts
56 upvotes
belorage wrote:
Mar 19th, 2017 1:31 am
Me and my husband are buying our first new car after driving old junker for years. We are very frugal.
We are thinking about the 2017 Chevrolet Spark LT CVT 16,995$. Not the most reliable car but very cheap and we could pay it fast on our budget.
We are thinking of buying it over 48 months with a 0.99% interest rate.
We are getting a 750$ rebate because of the auto salon rebate and 500$ because of a student rebate. My husband also had the account fees of 399$ waved.

We are also looking at the Honda Fit, a vehicle that seems more practical and reliable but we cannot pay it in 48 months and we could not get a better price than the MSRP.

Is it true you can't really negotiate a new car in this category? Would it make more sense to lease?

Thank you for your advice
OP look at a versa note, best car of the 3 IMO
Deal Addict
User avatar
Sep 1, 2005
4480 posts
767 upvotes
Markham
Jigsaw wrote:
Mar 19th, 2017 9:04 am
If you are very frugal then why not buy used?
+1 Look for a 4 yr old car from a dealer - likely came off lease and dealer maintained as the dealer usually only keeps the best cars that come back. The beaten up ones usually go to auction. If you're frugal....that 4 yr old car will last at least 10 yrs.

For pricing a 4 yr old car....my rule of thumb is to pay no more than half retail when it was new. If you buy new you pay 50% of price for 4 yrs of usage and 50% for remaining 10 yrs. If you buy used, you pay 50%.

I like Toyota Matrix (Corolla engine). Relatively easy to repair and parts are plentiful.
We're all bozos on the bus until we find a way to express ourselves...

Failure is always an option...just not the preferred one!
Deal Addict
User avatar
Sep 19, 2002
2290 posts
891 upvotes
Vancouver
Agree with others about a used car. You can easily get a 2012 CR-V or something reliable for around that price.

Get yourself a legitimate car instead of a cheap mini-car that will depreciate like a rock. The Spark will be cute for a month. Then you'll quickly realize how much better you could have spent $17,000.
Member
User avatar
Feb 6, 2007
317 posts
61 upvotes
A Honda Civic lists for about $1400 more than a Spark. Much more of a car for a little bit more.
Deal Addict
Jun 18, 2008
4263 posts
2458 upvotes
Montreal
Getting a new loaded Spark is not being frugal at all. A real frugal buyer would pick up a new 2016 base manual Spark for $8995/PDI included plus tax. And if you don't drive manual, a frugal buyer would have learned that long ago. There are still a few of these new 2016's left in QC

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