So, I am interested in this car. However, when I check the KBB value on it, adding in all the extras it has, this is what I get. 

I added everything that KBB gave me an option to add. With what KBB said, and the guy I talked to on the phone from the dealership not wanting to go to 16k ( before I knew the value ) , what do I do? Any suggestions, or what you think a fair price is? I could use some suggestions to get the price more reasonable. 

thing1 : firstly tell him you have done your research on the cars value. When I told the dealership that on my first car they came down on the price quicker. Tell him exactly how it is tell him your lowest you can do a month and tell him 14 thousand to start then edge up a little too make it seem like you gave ground. 

blasife : Well, both of my banks declined me for a pre-approval. How much experience do you have as a 15 year old? 

Jordanv78 :  
geeogree :  
Brigand :  
Vanelan :  

Can you guys think of anything to help me?

You usually have more wiggle room regarding new cars than you do used cars. Especially considering the dealership and the type of car. (This seems odd to most people, but it's true more often than not In my experience)

You might want to go for something more common/practical that isn't as popular of a car. The dealer knows he can get more for a sporty type car like than than they could a 4 door sedan (generally)

What always helps with regards to negotiation is to have the money in hand to pay them right there.

Although if you sat down, they might be able to approve you for a car loan through them. But MAKE SURE to check the fine print, because often those Interest rates get out of hand.

Jordanv78 : Well, I got declined for 17.5k through both of my banks. Sad thing is, the dealer could probably offer me a better rate than the bank, seeing as how my bank charges me 17.99% interest on my CC. 
The thing that I am worried about is a bunch of checks being run on my credit, and hurting it further than it already is. I don't feel comfortable telling my score here, but if you think it would help you to know it so you could help me or give me advice, I can you tell it in private. 

That's a pretty old car...and rather expensive...
Consider that its a Miata...its small and the previous owner probably drove it hard even if its low mileage...

Did you test drive it yet?

Vanelan : No, I'm gonna be checking it out tomorrow. It if means anything... it's had 2 owners, and apparently it was used mostly as a show car. 

whoops, double post 

The mileage is why the car is so cheap. An 8 year old car should have 70,000 miles on it at least. That's a good sign at this point.


Now for my personal opinion - don't buy this car. Douchey guys drive Miata's.

That being said, if that vehicle has only 30,000 miles on it you're getting a fairly new car which is always good. Probably no warranty left on it though so when it comes time to fix anything you'll be paying for all of it yourself. It's probably in good condition though so that might not be an issue.

I personally wouldn't buy this car but if you see yourself loving the car then the only hurdle is financing.

The dealer might be able to offer you a better rate but it doesn't mean it can. Almost all credit cards are 18+% interest so that means nothing. The type of credit is the thing that matters. Credit cards are always high because they require next to no background check or credit info to get one.


Anyways, being able to GET a loan isn't the only consideration. You need to be able to afford the payments + insurance + gas + maintenance. That is a major factor to consider.

Also, buying a car shouldn't be about just getting the first one you like and being done. Take your time (if you can) and make sure you're getting good value. Better to get a good deal than get a "sweet" car.

geeogree : I know. I made that mistake with my first car. My parents gave me to Saturday because I am giving them their car back, due to issues that I have the money I've paid towards it not being used properly ( down payment not being used like I was told ) , and some damage that I have offered to pay for for a comprehensive claim, but they are too lazy to call the insurance to check. 

I pay them about $400 a month between insurance and car bill, but I can afford up to about 550 combined. I like to stay completely covered on my insurance, so I'm looking about $175 since I had an accident in 2013, and a speeding ticket each year since. 

The Miata is a fun car...don't get me wrong, but after a while, that fun is gonna wear off when you are cramped in the little seats, paying a fortune for gas and the payments/insurance starts to hit you.

This is considered a sports car by insurance companies, so expect to pay rather high insurance premiums.
You might wanna get a quote directly from your insurer before you do anything else.

Also, at 14500, keep in mind that's + tax and title + loans come with interest.
I dunno how your credit is, but at 7%, 14500 = 15515.

Vanelan : Well, I've been factoring 20% interest rate, to be a bit drastic, worse case scenario... you get the idea. 

but that car that I listed, I checked insurance rates a few hours ago, and I'm looking at about $190 a month to be covered with everything possible, but lower coverage amounts, and $500 deductibles on anything. Most other insurance is about $170 to $180 for me, so this is about what I was expecting. 

I'm really hoping I can talk to them down to a 6 year payment plan or loan or whatever. If I get them down to 6 years, 17k, and 18%, that's 387 a month.

As long as I get a good deal, and pay about $375 max a month, I'm good. 

thing1 : just my first car and my current car 

thing1 : What car are you paying insurance on now?
Unless its a sports car, I don't think there is gonna be just a 5% increase from your current payment.

You also have to consider that its your parents' insurance policy.
When you go on your own, its gonna be totally different...

Local Mods : Don't need this any more for various personal reasons. Please close. 

-Thread closed due to being requested by the thread creator-