0% is good, BUT....

0% TEMPTATION

Are you just starting to look for a new sedan? Are you tempted by all the 0% financing for a new car?

Well think before you jump. It is true that right now you can find outstanding deals on new cars, but I want you to read my review carefully and consider other possibilities for the moment.

THE ALTERNATIVE

I just bought a 1999 Toyota Camry LE with 44,000 miles for $11,000. This is a great price. It has ABS with power windows and locks, and a sun roof, cruise control.

This car would have cost roughly 19K new. So off the bat I am saving 40%. And the car is only 2 years old. Now if this isn't savings, I don't know what is. Let me review this car specifically and then talk a bit about the rationale of buying used vs new.

THE DRIVE
I love this car. It drives like a luxury sedan. I did drive 1999 Accords and I liked the feel of the Camry better. Altough I will give an edge to the Accord on handling. It handles well though for a car of its size.

ACCELERATION
Good, but not great. I find that I would like a little more response in the 40-60 MPH range. But it is acceptable and certainly much more powerful than most economy or compact sedans.

BRAKING
I did some tests on both asphalt and gravel roads. On asphalt, the brakes are super responsive. I had no problems stopping quickly. On gravel, you have to be more careful, but the ABS does its work well.

LOOKS and COMFORT
Beautiful. Nice sleek shape with no awkward edges. The interior is very spacious and comfortable. But of course our body shapes vary from person to person, so be conscious of how the seats feel as you drive it. You can adjust the interior to how you like it. Many seat controls and tilting steering wheel.



THE VERDICT

OK, new cars I considered buying. I could afford payments of around 250 / month. With 5 year financing and a minimal down payment, I could afford about $15,000. So what could I get for that? Well here are the new cars that I drove: Mazda Protege, Nissan Sentra, Hyundai Elantra, Kia Sephia, and Ford Focus, Toyota Corolla.

Some of these cars were nice others were awful. (For what its worth I would rank the cars from best to worst: Focus, Sentra, Elantra, Protege, Sephia and Corolla). The nicest of the cars was Ford's Focus. Drove pretty well and had decent cargo inside. But in the end the car was costing too much money. Even with 0% financing over 3 years, it was too much for me to afford. And who wants to finance a ford for 5 years?

For 4K less, the Camry is a much nicer car. With all the bells and whistles of a high end sedan. I financed mine for 44 months and am paying about $250. That is a great deal. Mine was Toyota certified which gives a powertrain warranty up to 100,000 miles (covers Engine and Transmission). For an extra 1,500 I could have gotten a bumper to bumper up to 100,000 K. While it was tempting, I think that the powertrain should be fine. Camrys have sold well in the US in large part due to their reliability after all.

So in the end I am very happy with my purchase. I hope that this review was helpful for you and will make you consider used before being lured away by the great financing plans out there.