Buying a car

I posted a while back about my fiance looking to purchase a new/new to her car. I am now in the same boat, looking for tips or recommendations from anyone involving purchasing a car. (I'm thinking something like a Honda HRV, would go to something smaller such as an Accord, but both cars seem to weirdly be at the same price point). 

Would anyone have any advice on:

1. Which cars to look for/avoid?

2. How to purchase, should I buy the car in cash or finance it?

3. Does buying from an online site work, such as Carvanna?

Thanks in advance. 

10 Comments
 
Most Helpful

The Accord isn’t necessarily smaller across the board. The HRV has more cargo space, but in the front seats, the Accord is more spacious.

”The Honda HR-V, a crossover/subcompact SUV, has the advantage of offering more interior volume, reflected in more rear head room and cargo space. The Honda Accord, a midsize car, has the advantage in the areas of front head room, front shoulder room, front leg room, rear shoulder room and rear leg room.”

https://www.iseecars.com/compare/honda-accord-vs-honda-hr__v#:~:text=Th….

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

Don’t buy a brand new car, get a model a few years old. The majority of depreciation on vehicles happens in the first few years of ownership, let someone else eat that. This is not a favorable financing environment, if you can afford to pay cash I would. If you are opting to finance, obtain financing first from the bank you already have a relationship with, do not finance through the dealer.

I wouldn’t recommend Carvana for purchasing, I sold one of my cars to them and they did pretty much 0 due diligence other than verifying the odometer and a quick FaceTime to actually see the car wasn’t totaled. I could have easily coded out a check engine light and sold them a lemon if I was so inclined.

When buying a car from a dealer, do all your own research, learn a little bit about the engine, the drivetrain, what models and years of models are know for problems, etc.

The salesperson is nice to you because they want your money, they do not care about getting you the right car for your needs. Find out exactly what car you want, all the cars are going to be viewable online in dealer inventory. Call ahead, ask if it’s available, go test drive it, then buy it with cash or pre-acquired financing. If you want warranty then buy warranty, but don’t let them sell you any bullshit packages on top of the price of the car.

 
Dong Arnold

Don’t buy a brand new car, get a model a few years old. The majority of depreciation on vehicles happens in the first few years of ownership, let someone else eat that. 

Literally ordered my first car now (a Volkswagen), and bought something that's c2 years old. I looked up the price list for my local dealer and did some approximations for what extras were installed, and I reckon that I paid around 35% less for the same thing but used.  

 

I purchased my car thru a site like Carvana and overall had a fine experience, it just took ~2 months to get my car from initial purchase to me actually driving it. It's a somewhat long and annoying process to buy and trade in your car all online. I only did this becuase I wanted a specific car / trim that wasn't in my area and sold on the other end of the US. Otherwise, I would have just gone to a more local dealership if I wasn't too picky on the trim

 

Can recommend carmax. you’ll typically pay 1-3k above KBB, but it comes with a mechanical work up and usually a warranty, plus the price you see is what you pay no haggling. I used to work for carmax back in high school and the cars that make it to the lot are almost always top notch. Pretty sure they added 24hr, 7day test drives and a 7day return window

 

There was a helpful video on YouTube for buying cars I came across several months ago. I tried looking for it and couldn’t find, it’s been a while and idk the name of the title of the vid but I’ll post a link if I can find 

 

Sit consequatur nemo nam rerum ratione nulla. Reprehenderit commodi iste ex ut sunt inventore porro culpa. Similique et quia repudiandae consectetur. Maxime dolorum est et fuga sit.

Corporis quaerat aspernatur incidunt aut quia et sed. Sunt libero et eos dignissimos minima facere. Voluptas aspernatur corporis placeat sint qui sequi. Molestiae in rem vero et quo tempora. Ut voluptate nemo est.

Career Advancement Opportunities

May 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • JPMorgan 01 98.2%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

May 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 01 98.8%
  • Evercore 01 98.2%
  • BMO Capital Markets 12 97.6%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

May 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.8%
  • Morgan Stanley 05 98.2%
  • JPMorgan No 97.7%
  • BMO Capital Markets 12 97.1%

Total Avg Compensation

May 2026 Investment Banking

  • Vice President (14) $434
  • Associates (43) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (75) $151
  • Intern/Summer Analyst (65) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
kanon's picture
kanon
99.0
5
CompBanker's picture
CompBanker
98.9
6
GameTheory's picture
GameTheory
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”