Buying a 2nd hand 2010-2013 toyota corolla

[dsyrn]

I am planning to purchase a car. I have an autoloan approved for a brandnew (700k budget) car, but I am also considering buying a 2nd hand corolla (2010-2013 model).

Some questions I have:

1. Will it be more practical to buy a brand new car vs a used corolla in terms of cost. (will I be able to save some cash buying 2nd hand or more or less I'll be spending the same amount due to possible repairs?)
2. What are the common problems of the 2010-2013 corolla I need to be cautious of?
3. Is the automatic transmission of that model problematic? I originally want a manual car (most likely less probs), but if the automatic isn't problematic then I can consider that model.

thanks in advance..

[sirkosero]

You cant use your existing approval to buy a 2nd hand car. If the bank approves the loan, expect a very high interest

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[dsyrn]

You cant use your existing approval to buy a 2nd hand car. If the bank approves the loan, expect a very high interest

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Yup, I'm not planning to use the approved loan.

[babkalakal]

You cant use your existing approval to buy a 2nd hand car. If the bank approves the loan, expect a very high interest

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yes correct. and if you are eyeing a corolla most banks will only approve if they are at maximum 4yrs old only.

[SidCoronel]

I am planning to purchase a car. I have an autoloan approved for a brandnew (700k budget) car, but I am also considering buying a 2nd hand corolla (2010-2013 model).

Some questions I have:

1. Will it be more practical to buy a brand new car vs a used corolla in terms of cost. (will I be able to save some cash buying 2nd hand or more or less I'll be spending the same amount due to possible repairs?)
2. What are the common problems of the 2010-2013 corolla I need to be cautious of?
3. Is the automatic transmission of that model problematic? I originally want a manual car (most likely less probs), but if the automatic isn't problematic then I can consider that model.

thanks in advance..

1) Buying any secondhand car is a gamble, but the last time I bought a brand new car was way back 2009. Always set extra money for repairs, about 100k extra. I like buying 2ndhand cars, having the 1st owner pay for the depreciation cost.

2) I own a 2013 Altis AT G. Only issue so far is the rack n pinion... 37k brand new original... 3,500 if you have it repaired, my 1st and most recent repair was Feb this year.

3) Altis tranny is conventional, not DCT, not CVT. No issues IF : a) You know how to use it b) you change the ATF (3cycles, 9Liters) every 30k km. c) If you don't mind the lesser fuel efficiency vs MT, DCT, CVT (my regular ride is an Accent Dsl AT DCT).

We choose cars based on our preferred features & benefits. I chose an Altis for my wife for: a) Safety & comfort b) Durability c) Reliability d) Ease of maintenance

Hope these help.

[GTi]

I am planning to purchase a car. I have an autoloan approved for a brandnew (700k budget) car, but I am also considering buying a 2nd hand corolla (2010-2013 model).

Some questions I have:

1. Will it be more practical to buy a brand new car vs a used corolla in terms of cost. (will I be able to save some cash buying 2nd hand or more or less I'll be spending the same amount due to possible repairs?)
2. What are the common problems of the 2010-2013 corolla I need to be cautious of?
3. Is the automatic transmission of that model problematic? I originally want a manual car (most likely less probs), but if the automatic isn't problematic then I can consider that model.

thanks in advance..

This is of course assuming the end cost of the brand new car loan and your used car loan will be the same.

The Altis will of course be more upscale than a 700k brand new vehicle. But do take note that a 2010-2013 Altis is a 6-9 year old vehicle. 100k for repair cost is probably a bit much, but its always good to be prepared. In the absence of service records, change all fluids and filters. If certain mileage is reached, also the belts. Toyota 4ATs are among the most reliable out there. Don't expect much in terms of gas mileage, but it'll definitely last you a lifetime.

If I were you though, I'd be considering something taller, and with a diesel. Innova perhaps?

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[eryanjames]

I would save up to get the 2014 model. (next gen).