2012 Hyundai Accent vs 2010 Honda Insight? Financing & other Q's

[Anto]

Looking for a DD, torn between these two. Budget is 15-16k, which is the going cost for a new 2012 Accent sedan or a used (30-60k) 2010 Insight.

The 2012 Accent has a direct injection motor & six speed tranny, some people have been reporting 45mpg hwy 40 city with the right driving technique. They run 15k new.
2010 Insight looks like an awesome car, again 45-50mpg with the right driving. More trunk space vs the Accent, edges more toward 17k.

Cost wise, I drive annually about 14k miles, and my 240 gets 21mpg. It ends up costing me ~$2533 a year in gas @ $3.80 a gallon.
Going by EPA estimates, the Accent (30/34/40)would cost $1520 a year @ 35MPG, around a $1000 savings per year/$83 per month minimum.
The Insight (40/43/41) would cost $1300 a year in gas, $1233/yr savings, $102/mo savings minimum.

Finance wise, 15k @ 3.98% APR for 72 months would be $230/mo.
17k @ the same would be $263/mo.
Factoring the gas savings in would be roughly $147/mo extra what I'm paying now for the 240 + gas for the Accent, $161 extra for the Insight.

Currently leaning toward the Accent due to not wanting to deal with unknown problems or issues with a used car, but I know that once I drive the car off the lot the value drops by a few thousand, so I don't know what to do. Anyone have advice?

[TheWolf]

used car probably won't finance out at 3.98%.. the new one will..

[ESmorz]

Hybrids also suck ass. I daily one and fucking hate it. Get something with a normal drive train and save your sanity.

[Phlip]

What does your cash look like?
F'rinstance, you may be able to CraigsList a cherry deal on an older Civic, enjoy 30-40mpg and avoid a car payment altogether. All of this while avoiding the higher costs of insurance and routine maintenance of a new(er) car (did you factor that in with your fuel costs savings?)
As has already been mentioned, that interest rate will only be given on a new car, and if your down payment and credit aren't right, then the finance company may shy away from loaning on the used one in that amount.

[ravinaziankid]

I think financing on a used car is a lot more than on a newer car from what I remember, so out of those 2 I would pick the Accent. I went to check out the Accent earlier this month and it's a pretty nice car if you get power windows and locks. The 6-speed with 138hp is pretty cool too.

[VROOOM]

I just bought a new Hyundai Veloster. it has the same engine as the Accent. its not very quick but its decent. i also get about 38mpg on the freeway if im not driving over 70mph.


Hyundai has the Assurance program where they will tell you how much they will buy your car back from you, if you purchase another Hyundai. one other thing to think about is trying to haggle free oil change or service into your sale.

also, i see your in CA. Handinpants works at LAX Hyundai, i bought my car from him. you might want to PM him for any other questions.

[Anto]

I wanted to get an older civic initially, but I keep seeing 06's with 70k miles for 11-12k. 04's are like 140k+ and are going for ~$8k. I wanted to get a new(er) car because I don't want to deal with replacement / repair of brakes, balljoints, CV boots, random oil/tranny seal leaks, engine components wearing down (headgasket, radiator, etc), pretty much everything. In the past, I've helped get 4 or so cars for family members, but after a few months something always needs replacing / fixing & it's always a pain in the ass, so I want to avoid that altogether. Maintenance with a newer car will probably be much cheaper vs an older one - pretty much just oil changes until ~30-40k.

I wanted to put 2k down initially, then sell off my car and put in another 1k. Possibly getting a co-signer as well.

[ronmcdon]

With used Hondas, (or even Nissans & Toyotas) it's not worth buying a 'newer' used car.
The depreciation are so minimal that you're better off taking advantage of the incentives for a new car that runs so often.
The bluebook value on my mom's 08 civic hybrid w/ 60k is around $17k (approx $23k new)

If you're really tight, I'd say get an older used car.
Maybe something like a late 90's corrolla, where it's reliable, affordable, & not so much a thief magnet.

I also wouldn't look past leasing if there's specials.
Hyundai offers some great leases.
I think the Voloster is going for around $2k down & $180/month.
Honda is leasing their base Accord for zero down, 250/month.
Go to manufacturer's website to check out other specials.

Between the two, Id opt for the Accent probably.
Just not a huge fan of hybrids, esp the expensive battery will need replacing earlier on.

[enkei2k]

If you need to finance a car that's <$20k, I wouldn't even bother looking for a new(er) car right now. IMO financing is only worth it if the car is worth at least, $40k, but it all depends on your income.

Keep saving up those pennies a bit longer.

[thrax]

I'd go with the Accent. One of my friends is shopping around for a sub compact and asked me to come along and we test drove it. I was really shocked at how nice the new 2012 model is as compared to the old model it replaces. Night and day. The HP for the class of vehicle is pretty good too and it has full disc brakes.
As other posters have said the resale on Honda's is so high that sometimes the discounts on new cars these days come close to a used car price 'cept you get the full warranty and a new car with the options you want.

[VROOOM]

Hyundai has an awesome warranty too. 10 year 100k drivetrain and 5 year 60 bumper to bumper. i havent had to have my car serviced yet so im not sure how warranty work is at Hyundai. but it sounds like a good deal.

[ZilviaKid]

i have an accent, not the new model year though

fucking love it man

the accent is the new civic imo