In southern CA.
looking to get my daughter a new car.
I bought her first car for her, now its her turn to get herself a nicer newer car and pass her focus to her sister…
something under $250/mo… minimal down. Do these exist anymore? lease or purchase. first time buyer, i will cosign.
Looking for a sedan like a civic, corolla, sentra, mazda3…
You could probably do it on the lower trim KIA and Hyundai EVs for 2 years.
Elantra and quite a few EVs in the ballpark. @Jeff_BeachCitiesAuto
@Cody_Carter had some cheap leases last month I think - check his site out
I have Elantra SEL that just got redesigned and is cheap. No need to look at Corolla and Civic
$250 For Zero Down?
Not a direct answer to the question you asked but this is a great opportunity to teach your kids about personal finance — and with something concrete and not just abstract principles.
When you tally everything up you’ll be above $11,000 for the total cost of the lease. Over two leases she’ll spend $22,000+ and have just a fraction of the equity she’d have if she had financed one. Almost back to square one every time a lease finishes.
OTOH: No loan payment once it’s paid off also dramatically increases her ability to afford to buy a house when the time is right. Most likely that’s not even on her radar but this is a real “sliding doors” moment in her life.
Help her with the down payment if necessary & possible.
250/mo in California barely tickles a mortgage.
If parents were going to buy a used car for 25k, I would rather them put that 25k in a HYSA (or CD) and then lease a 250/mo car, that would cover the insurance or half the monthly payment. Don’t have to worry about maintenance either if it’s an EV.