Registered: 1416220554 Posts: 36
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Hello guys! My sister and her husband are asking me what car should they get. They run a bakeshop they have three kids. I told them that it is wiser if they will get a van so they can use is for business and also for family car. Any inputs guys? And also Do you know any company/firm aside from banks that offers good deals for Auto loans? Thanks!
Registered: 1395423961 Posts: 287
Reply with quote #2
In response to Princess Carvers's query, I have some experience in the auto sales industry having ventured into it for some time after retiring. With three kids and a business as described the suggestion of buying a van does have considerable merit. If buying 'new' their selection will be rather limited as the market has shrunk considerably in favour of SUV's. As a result, many of the major manufactures no longer offer vans in their line-ups. A larger (three row) 'crossover' or 'sport utility' may suffice although they are not as versatile as a van and can be quite pricey when loaded up.
Everyone knows that with kids comes 'stuff'. On new vehicles the available financing is usually better from a manufacturer than from banks or other lending institutions but this is reduced in the used car market. My suggestion for them is to do the necessary research, most of which is readily available online, including asking friends or relatives who own or have owned certain makes or models for their input before venturing out into dealerships.
Registered: 1383581469 Posts: 170
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I too think that a larger SUV might be the answer. I would never buy brand new, because even with 0% financing, the immediate depreciation the second you drive off the lot outweighs what you save in interest fees. I would tell them to look for a 2015 or 2016 lease return/used vehicle. With the downturn in the economy, there are lots of these On the market. They can negotiate the sale price down. I just bought a 2015 Sante Fe Sport with about 29,000 km. Got it for approx $14000 less than a 2017 model. I also was able to talk the dealer financing down .25% lower than the lowest rate the banks could offer. There are good deals out there...the market on the lots is slow. You just have to be a firm but realistic negotiator.
Registered: 1395423961 Posts: 287
Reply with quote #4
I concur with kellex98, vehicles such as lease returns are of good value and can be found with low kilometres as well as much of the remaining warranty. I too own a 2015 Hyundai Santa Fe and recommend it highly. There is also a somewhat larger Santa Fe XL model available. It definitely is a 'buyer's market' right now which is a considerable advantage when negotiating a price. I wish them luck!
Registered: 1465589210 Posts: 94
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Ford Flex is the answer.
Registered: 1383571971 Posts: 742
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If your relatives are planning to use the vehicle for both personal and business purposes, leasing a new vehicle may be the way to go, since a portion of their costs could be written off come tax time.
Also, in a bakery & family situation, I think I would be tempted to purchase or lease a new Tahoe. 4x4 is perfect in the winter. Enough space for pick up and delivery. Covers all the hockey gear and vacation suitcases.
Registered: 1464835055 Posts: 6
Reply with quote #7
SUV is better for business use. About a car loan, most of the time the car dealer itself offers loan deals to their clients or can assist you with a car loan application from banks.
Registered: 1508453243 Posts: 5
Reply with quote #8
Originally Posted by
Princess Carver Hello guys! My sister and her husband are asking me what car should they get. They run a bakeshop they have three kids. I told them that it is wiser if they will get a van so they can use is for business and also for family car. Any inputs guys? And also Do you know any company/firm aside from banks that offers good deals for Auto loans? Thanks! SUVs are more suited for business use. Not sure about other financing companies, but we just normally rely in our banks.
Registered: 1451884983 Posts: 25
Reply with quote #9
I agree that SUV will be the best option. It is great for family and can also be used in business. Plus, it is relatively very safe.