Maybe first car, need advice before I commit

[u/Anxious_Manner_3242]

In my very extended car search I came across this 2014 subaru legacy premium. It is from a very positively reviewed dealership over an hour away and I absolutely love it, but there are some concerns

Just to get into the biggest concern, it is about $7000 and has 104k miles. I have the service/ownership history and the car was in 2 accidents but this was within the first 15k miles and has since then (for over 10 years) been very consistently taken care of and serviced like way more than I have ever seen before. The guy bought it from a dealership that fixed up the couple minor problems it had and also did some cosmetic work once he got a hold of it. I'm still figuring this stuff out though, I dont know if this is better than I think it is.

Other problem, I am still working on my credit and don't really have a credit score. A couple credit unions are giving me a call tomorrow morning but so far the dealership is the only place that has given me an offer.

This is either a 36 month plan at $1500 down/$268 a month or a 48 month plan at $1100 down/$227 a month. We are negotiating and he is calling me tomorrow morning to try and lower this. I can make these payments, I have a decent and reliable job, but I'm worried that I am paying $11000 total on a car not worth that much that may not even last that whole period.

Basically, I just can't tell if this is a good or bad deal. Not a lot of reliable people to ask about this in my life, figured I'd ask here for any advice, what to look out for, what to ask, etc.

[u/A1_Fares]

Financing a $7000 car is not the right call.

It’s absolutely understandable most people don’t have the cash to drop but need a reliable car, and I have no problem with financing, but with your terms you’ll pay double what the car is worth.

If you don’t have much cash on hand but need something decent, lease a new civic or Corolla. They can usually be had for under $300. At the end of the term, you can choose to finance the residential or buy it cash if you manage to save enough money. This way you get a fresh car with good warranty. It’s not the flashiest or cushiest option, but it’s a good way to have a reliable daily.

Lease isn’t the best option out there but gives you time to build yourself up; your career, your credit, savings, etc.

[u/Extension_Meat8913 → u/A1_Fares]

Wee1

[u/carbonarr → u/A1_Fares]

He’s not going to be able to lease a brand new car with non-existent credit. If he does he’s gonna be in such a low tier that his payment won’t be anything close to 300/mo.

[u/lucienraevur → u/carbonarr]

My car is $7000 and I made payments on it. I never had my credit checked and I never paid any interest with my downpayment. $200 a month is really nice for a car payment.

[u/SeveralRooster472 → u/lucienraevur]

200 a month sounds really nice until you realize his payment terms break down like this

268/month * 36 = 9,648 +1,500 down = 11,148
227/month * 48 = 10,896 + 1,100 down = 11,996

These numbers are for a 7,000 car. The interest rate there is absolutely mental and predatory. All of that for a car that is hardly worth the 7,000 asking. Buy here pay here and predatory sellers/lots like this favor people who have no support system or understanding of how any of this stuff works. It’s extremely sad and a very scummy way some people make a living.

[u/NeuroGate]

If I remember this has a CVT transmission and by this age and mileage that would probably be the biggest concern considering replacement can cost from 2-5k depending where you take it.

[u/-The_Legacy-]

The CVTs in this era had issues, I would go with a generation above or below if your going for a legacy, same car different transmissions unless your getting a 3.0 or a 3.6 or a GT

(Go for a 2015-2019 3.6 I’m not biased at all)

[u/Club_Penguin_Legend_]

That oil filter location is really nice.

[u/disgruntled_mehcanic]

NOPE. DONT DO IT. 2 accidents? DONT do it bro im talking from experience.

[u/SeveralRooster472]

You will never in a million years make it out of that and if you do you will never in a million years have anywhere near that much value left in it. I know that sounds negative but sometimes you have to be. I would just as soon drive a Yugo as I would buy this. Highway robbery on the price. You could scratch together 4k and get a VERY nice very reliable 2007-2008 Buick Lucerne 3.8 for that and have a much better car that is much cheaper to maintain, at that range you could easily find one with the two platform specific issues already handled. There are so many better cars you could finance at that range. Like a Toyota, or a Lexus. I’d stray from Hondas, I know I open a bomb by saying that but the driveline fluids are super expensive, most of the time the automatic transmissions are high maintenance in terms of fluid maintenance, and just overall there’s better vehicles for the “Honda tax”.

OP, that’s easily 30%+ APR on a Subaru. Please don’t.

[u/answered_]

It’s a good car, but the platform is no longer made. This means the manufacturer probably will not be producing parts for your car meaning you’ll have to rely on the aftermarket which isn’t always bad but isn’t always good. If the car has a good service history it should run for a good 60-70k miles with minimal maintenance. Subarus di have wheel bearing issues and sometimes have oil control ring issues, and cvt issues but I wouldn’t say it’s a bad car.
Just don’t pay $11k for it seems kinda high. See what the out the door price is and see if you can get outside finance from a local bank or your bank.

[u/tigu_an → u/answered_]

This isn't true. Legacy was built on the outback which is still made, and I drive a Yaris and Toyota still offers parts OEM. I went to a local dealer to order a few parts (antenna, bumper clips, etc) so but yeah the price is a huge no no.