I just graduated from college a few months ago, and just got a job with decent pay.
Now I’m thinking to get a car, but I have few concerns:
I don’t have a tier 1 credit (abused credit card during college to survive, 650~700 now)
This will be my first time leasing a car, I know how to read a leasing contract now but I don’t really feel confident (maybe I should get a broker to help)
Ok, that’s my background and my question:
My target would be $300 ~ 400 per month, should I get a Honda Accord or a Volvo S60 T5 R-design. I read some other ppl deal, those two cars seem to fall into my expectation but I don’t think I can get the same good deal.
I feel Accord is a good car and the price is fair. Volvo S60 is more like an upgrade for me, I’d be happy to lease it if I can get a deal within my budget.
My parents they not really into cars so I think I should listen to what ur folks advice.
If you’re looking to get into a brand new car you should look at the Camry Se. You can definitely get one on the lower side of your budget. I was once a new college grad with a 400 dollar car payment and it crushed me financially. I had an suv, fuel cost was high. My insurance was high. My payment was high. I was spending 700 to 800 a month on my car.
Yes Toyota has some cool programs to reward young people heading into the workforce out of college including helping with getting subvented rates. Camry, Corolla, CHR even a Rav4 might all be within your target budget. Plus you get two years of free maintenance so oil changes, tire rotations, fluids and filters are going to be free which Honda doesn’t offer. Can’t really go wrong with a Camry though
I don’t know about how Toyota, Volvo or Honda’s college grad programs work. I can tell you, though, that when I leased my Mazda 6 in December of 2018 that Mazda’s College Grad Program helped me to get the tier 1 money factor. My credit score was in the same range as yours, and I wouldn’t have qualified for tier 1 either.
I’m sure that the Accord would be nice and I was even considering an S60. I have driven a 2019 Camry and it was fine. That’s really the most generous adjective that I can use. It was a base model and compared to my Mazda 6, it felt like a serious penalty box. Do yourself a favor and at least consider the Mazda 6. I came from a Q50 into the 6 and don’t miss the Q50 at all. I have the touring trim and I think it’s amazing. Tons of standard features, comfortable, handles amazingly well, feels well thought-out, and I’m averaging 32 MPG combined. I landed my 6 for $0 DAS (true sign-and-drive) and an effective $296/mo with 8% NYS and county tax included in that payment. They also included remote start, maintenance and rubber floor mats in the deal.
If you’re not set on your car yet, at least look at the Mazda 6. It sounds like it could be agreat fit for your situation.
How about the new Mazda 3, it looks really neat.
I tried Camry before, it feels really light weighted and I just don’t know why they dont have apple carplay yet!
I haven’t driven the 3, but have heard nothing but good reviews. The interior looks astounding and the AWD is a huge bonus for those of us where snow is a fact of life. I wouldn’t hesitate to check one out, and the college grad program would still apply. Any money that you can save now is super-important, especially if you’re trying to pay down debt. Also, right after college is a dynamic time where things change a lot. The lower your monthly pament is on a car, the more flexibility you have when it comes to other things. Take a look at a base 3, see what the deals are that are being posted, and maybe get some quotes! We’re here to help!
Can you please at least TRY not to make every post or thread about yourself? The kid is looking for real advice, not your wacky “look at me and what I have” shtick you always pull. Thanks.
There’s also the concern that they admittedly abused a credit card very recently to get by. That’s an indicator to me that their budgeting skills may not be the best yet, so it would be advantageous to get situated with as little debt as possible, start saving money, and see what really fits in their budget. I’ve seen way too many people get out of school, get a job making far more money than they ever have, and start treating too much of that money as disposable because they’re not prepared for all the new expenses that will hit them at the same time.
