Shopping for a New Car

After the accident, my next step now is to get a new car.  I’ve thought about buying a used car to save some money. I was looking for used Civic LX and Camry LE cars from 2006, or newer.  However, as I was browsing the classified ads, I noticed the cars I wanted seem to have dropped slightly in price from their newer counterparts.   These cars seemed to hold their value pretty well.   So my mind is pretty much set on buying a new car.  Which car will it be?  First, the rundown of the requirements:

1. It has to be fuel efficient: 30+ MPG (realistically too, not the EPA s.w.a.g.)
2. Must have good re-sale value.
3. Looks good.
4. Reasonably priced.
5. Japanese car: either Honda or Toyota.

Here’s my list of candidates for a new car:

Honda Civic Hybrid (or Toyota Prius)

I’m a real fan of Toyota’s, or Honda’s Hybrid cars because of its awesome 45+ MPG fuel efficiency. But lately, what really ticked me off is the premium added to the prices by the dealerships.  Now they sell them starting at $28k!  That’s insane, considering back in 2003, my Honda Civic Hybrid was purchased at $21k (around MSRP)!  The dealers are greedy enough trying to make huge profit.  I also blame the customer who thinks the extra premium is worth it.  At these prices, it’s just not worth it.

Honda Civic GX (natural gas)

The GX is appealing because of the government rebate, tax break, cheap CNG fuel ($2.50 per gallons), and HOV lane privilege.  Apart from the lack of CNG fueling stations, here’s another example of price gouging.  I called around the local Los Angeles Honda dealerships. They also want at least $28k for it!

Honda Civic LX

For $17k MSRP, this car has all the basic features, Honda’s good looks and resale value, and good fuel economy (32 MPG realistically).  This car is the basis for all of my car comparisons.

Honda Fit

The Fit is a cute little car that’s pretty cheap, starting at $14k.  It’s rated for 34 MPG highway because of the smaller engine and lighter load.  Because of this perceived high MPG, the car is now in high demand.  That means the greedy dealers are putting a premium on it also, adding $2k-$3k more on MSRP.   If I’m going spend that much more money on it, I might as well get the larger Civic LX.

Toyota Camry LE

The Camry was a surprise choice for me.  We went to a Toyota dealership in Orange, and were seriously tempted at the $17,995 quoted price for the 2009 Camry LE (MSRP is $22k).  Of course, that may be a ploy to get us to start price negotiation, but it’s still a good deal for a nice mid-size sedan with lots of features. I’ve always liked the Camry’s new design.

So which one should I get? 

I’ll make a decision before the week ends.

Tags: car shopping, cars, honda, toyota