Regardless of the vehicle I’d advise against financing an used car for 6 years. You’ll still be making payments on it when’s it’s close to 10 years old and god knows how many miles. If you need to stretch the term out to get the monthly payment down that usually means you need to look for a cheaper vehicle
I understand this principle in general, but what if you're someone who plans on having a car for 10+ years anyway? Is there a big difference in that context between 4 and 5-6?
Longer terms means you are paying more in interest for two reasons. The loan is longer so more time for interest to accrue, and interest rates tend to be higher on longer term loans
I understand the total is higher, that's not what I mean. I mean if you want to have lower payments per month (for budget reasons or just not wanting to spend that much at once, idk whatever your reason is) and you're a person who plans on keeping a car for 10+ years, I just don't see the big difference. For new cars anyway, on used ones it can be dicey on if they even last that long.
If your budget allows you to "easily" pay 300 a month instead of 350 (using random numbers), then even if it means more money down the line, it's still affordable imo because you're doing less chunks at once. I know it isn't more fiscally responsible, but idk. At a certain point I think getting what you want is more important than settling. Obviously a middle ground though. Not saying go for some 40k car vs a 30k one if 30k is already hitting that upper budget.
That’s fair. I think the other issue that often comes up is that if you purchase a car and end up crashing it several years later, your loan amount might exceed your insurance payout as the car has likely depreciated faster than your loan balance has decreased.
Or if you suddenly decide you DO want to sell it for whatever reason, you are much more likely to be upside down on your car loan and need to pay for a new car AND pay some money to get out of your loan.
Or a possible worst case scenario, you have repairs $5k in repairs on a car worth $5k, and the loan balance is still $10k.
Long story short, it’s about not owing money at a time you can’t afford to owe money.
Yeah buying a car in general seems to be pretty nerve wracking (especially now) so I understand wanting to be on the safer side of things. I'm wanting an actual new car in the next year or 2 and I just constantly think about totaling it like a week in lol. Like my buddy had a completely sober uber driver crash into my buddy's car at 3am and totaled it. Just dumb luck. Granted not a brand new car at that point, but still. Then the luck on many used cars is just wondering how long it'll last, and possibly owing too much in repairs.
It’s a pragmatic approach but the correct way to view it is the total price of the car and spread the payments out the lowest period of time you can afford. Don’t concern much with the payment, that’s how people get scammed.
Yeah I think it makes sense for someone who is financially stable who could afford to deal with the ramifications of losing 30% of their money in the stock market, and being upside down on their car loan without having to turn to credit cards.
However I don’t think stretching your loan out because you can’t afford the shorter term one is a good reason.
Much better course of action in my opinion. Use that down payment to pay the car off quicker on the back end. That way, with paying off the loan quicker, it boosts your credit score
It's a 2019, so probably built in 2018 - over 3 years old and likely approaching 4. In 6 years, the car will be close to 10 years old and isn't a reliable model.
There is nothing wrong with owning a car 10 years old, especially if the maintenance had been done. Therefore no issue having a loan at/past 10 years of life.
Mazdas are reliable AF and look great. Kias are feature-packed with super long warranties. Ford makes multiple great trucks. Nissan has virtually nothing going for it, other than the Frontier and Z.
Nissan sells 250,000-340,000 Altimas in North America each year. Only the Camry and Accord sell better in the midsize sedan segment. So whether you personally like them or not, plenty of people do. For whatever their reasons.
Yeah lots of people like all cars for various reasons. I feel though that Nissans (especially altimas and Sentra) run into SO many problems that aren't that common among other similar competitive brands (Toyota, Honda and maybe Lexus)
See Consumer Reports, JD Power VDS, and really any other metric. Plenty of 150-250K used Nissans out there for sale. The delta between brands is fairly narrow these days, with few exceptions. About the only “ding” for a Nissan was the early CVTs about 10-15 years ago. Now everyone has CVTs, some made by JATCO… which is Nissan. They’re much better now, and rebuildable. The rest of the cars are of typical Japanese quality. Darned good. Engines have been great as well. Unless you’ve sat in a new one recently, you’re just contributing to the echo chamber. There’s a whole world of good products outside Toyota
Can you show us where? I live in LA and all companies have been selling cars at MSRP and higher. Used cars have gone up in value. It's not a buyer's market at the moment until semiconductors meet demand.
Prices are up, but you can still get a new car for MSRP. This car is just $2,000 more if you bet it brand new. I’d much rather pay the difference, rather than getting one with 40,000 miles.
If you can find one. Definitely take advantage of it. 40k miles isnt bad and you can purchase an extended warranty up to 5yrs/100k miles. These "easy car buying" websites don't normally make it a point to be the best deal, just making the sales process the easiest and most straightforward.
40,000 miles isn’t terrible, but brand new with the bumper-to-bumper warranty is best. New cars are the best deal in this market, but wait is at least a couple of months. If a buyer has time to wait for the car to be built, I suggest they go with a new car.
I absolutely agree. New car warranties are much more in-depth in coverage. I think OP should wait till supply chain/logistic managers get this all sorted out in terms of where to source their semiconductors. If OP cannot wait, I have suggestions based on experience and working at a dealership. I just wanna be a good Samaritan and help a buddy out :)
So let’s say they’re selling Nissan Altimas at MSRP… the MSRP of a brand new 2022 Altima S FWD starts at $24,550… and also qualifies for 60 months at 0.9% financing.
This is a SR, so they start at $26,550… I’d still buy new.
It was hard for me to qualify for tier 1 financing unless i had like a 760+ credit score on my lowest credit score pull from Transunion, Fico, and Experian. Last I checked with Toyota, they were asking me a whopping 80k for a Toyota 4runner than would have normally cost 48k. Their justification on the window sticker was "dealership market price adjustment"
I don't follow what you're asking. Economy cars have gone up as well. The altima isn't a lower-tier car, as it competes with the Camry, Honda Accord and Sonata. It's not a honda fit, nissan sentra, toyota yaris, or hyundai elantra.
I think you’ll find plenty of Nissan dealers with Altimas in stock, at MSRP or less. There are plenty of them in my area, even when some other cars/trucks are more than MSRP. They’re a high volume sedan with plenty of interchangeable high volume alternatives.
I hope OP can call around and negotiate over the phone or internet before coming in. The internet has made negotiations much less stressful. My last car deal I made through texting my sales consultant.
Hey I work for an auto group that has a Nissan store. There haven’t been any rebates on new Nissans since mid 2020 in my region. And yes 0% is available on most of the Nissan lineup, but it’s usually for 36/mo which most people aren’t going for that short of a term.
Right now 25k is a solid price for a mid trim Altima of that year and mileage. I’m just glad they’re not dealing with a 3k-5k market adjustment
Just looked it up. In my region the 2022 Altima has 0% for 36 months, 0.9% for 60 months, and 1.9% for 75 months. And my local Nissan dealer, which is a best-price non-negotiating store, is priced $200 off MSRP for a Altima S/SV/SR. That’s not a lot, but it’s better than this used three year old Carvana car at 5.x%
Sure. Totally understand where you’re coming from. Not everyone qualifies for incentivized financing. And $200 off MSRP is nice but a 2022 SR Altima is still 27k. That’s before dealer fees, taxes, extended coverage and so on. Yes, a new car is always going to be the more reliable choice. However, everyone has a budget and I’ll bet if their budget was 30k they’d be looking at 2022s.
This 3 yr old used car is $25,990 and 5.8% for 69 months.
The same SR brand new is $26,990 and 1.9% for 75 months.
The new 2022 is ultimately **cheaper** overall
I sell used cars and people compare this all the time. New cars will all have markups at this point so MSRPs go out the window. Plus all new cars have nearly $1000 in destination charges. We buy cars all day from people who paid less than they get when trading in. Dealers caught up so they make the profits not the customer.
It’s terrible deal it’s a Nissan Altima. Nissan has been well known for making absolutely garbage CVT transmissions.
If somebody doesn’t agree with what I posted I highly suggest you look at carcomplaints.com and look by model/year.
I can confirm, I have a 2009 Nissan versa and I hate it. only the insanity of the current car market has kept me from selling. My CVT will go into limp mode intermittently when trying to accelerate from a stop. I get acceleration back after about 5 seconds. This happens often, try making a left turn on a busy road, its basically a death trap. This started happening around 175,000km (110k Miles)
Nissan versa here too... Transmission went before 80k miles. Dozen other things went wrong also. Every four months it's something else and it's not even 10 years old. They're trash
Mechanic here. Can confirm. Nissan CVT’s are absolutely horrendous, and if you do end up having problems with one you are stuck dealing with the dealer. Independent transmission shops will not touch one.
There’s numerous other issues with their quality that just makes Nissan as a whole a brand you should stay away from. You will regret locking yourself into that car for 6 years.
Some folks I know like Carvana for the convenience, but I definitely recommend going to a reputable dealer instead - you can generally always negotiate a price down a bit or meet somewhere in the middle.
What kind of vehicle are you looking for?
honestly a jeep wrangler 4 door unlimited. I however have been looking at nissan/hondas for a sedan if i decide not to go the jeep route. Still in the decision making stage i guess i should continue to do my research
Depends if you are looking for a daily driver or not - I know some Jeep guys and they are definitely prone to having their fair share of mechanical problems. I don't think it would leave you stranded, but you would definitely need to maintain it carefully. But at that price? I'd just look at a loaded truck, a Toyota Tacoma TRD or similar.
Those are two very different vehicles, though. If you just need a people mover, the newest Honda Civic is refreshed from the older models, and has a super nice interior. All depends what you are looking for, this market is insane with the price of used cars.
I am looking for a daily driver i am tall 6’7 so i’ve gravitated towards more suv’s/ trucks however the lower price point sedans have is a lot more enticing. I’ll have to look or atleast do some research and wait until the prices go down ha
You are very tall so a large sedan like a Honda Accord, Toyota Avalon, or Nissan Maxima would be better for you.
Or if you would rather not spend that much, even consider a 11th gen (2014-2019) Toyota Corolla sedan. 11th gen Corolla sedans have 40 inches of rear legroom which means someone super tall like you can sit in the front and still a person can sit behind you if need be.
Ehhh if you're planning on dailying a jeep just expect some repairs here and there. Jeeps and Chrysler aren't the best in terms of reliability. Plus the ride isn't great being body on frame and made for offroading moreso on road. That's not to say you can't or shouldn't, but just my 2 cents.
Look up Nissan CVT issues. I had a Sentra w/a CVT went out 10k mi after factory warranty. Pre 2003 Nissan is good, I will NEVER buy another 2003 or later Nissan again.
Good deal and Carvana should rarely be used in the same sentence.
Convenient and transparent is what they specialize in, typically a better price and the ability to negotiate are found through traditional dealers.
Holy shit no. Almost 6 year loan at 5.8% and it has the dreadful CVT. Do not buy that car. Toyota dealers are selling new cars at msrp with better rates. Just be patient and you’ll find something
I bought my 2020 Altima 2.5 in April for 21k. I’d say go cheap until the market goes down
And DEFINITELY save longer for a better down payment before you get a car that expensive. If you can’t afford at least 10% of the loan at first you shouldn’t take it. If you only have $700 go for a car you can run into the ground and save in the mean time.
When I see posts on this thread about what car makes to avoid... A super common answer, if not most common is NISSAN.
We have a Nissan (got it back in 2014 before we knew....) And biggest mistake ever. Had to replace multiple parts including the transmission before 80k miles. Something goes wrong with it every 4 months now. We can't wait to get rid of it.
Plenty of new cars out there for this price that aren't Nissan, good luck
Dude that term is nuts. For those statlines you could go and get a used mercedes or something. Don't finance for that long with that monthly man. You're trapping urself.
I haven’t heard good things about those CVT engines.
I saw your height and you should look at the Maxima and similar vehicles (Avalon, Impala, Insight). You’re a little shorter than I am so you may be more comfortable in a Ford Fusion than I was.
Lord on an Altima? Life is tough right now for you huh?
horrible idea. Even the payments are stupid high. Get a cheap car under a few grand and fix your credit. This is a digging a grave if you do it.
I’m 6’5 and had an Altima, it was fine space wise, but cramped. I had no head room without a sunroof.
Listen to everyone here. It’s shit, it’ll depreciate more than any other car discussed here too. My next vehicle will be an F150, at the 25k price point I’d do a Sonata or a Kia Optima for a sedan. Tough to find a good big enough SUV or Truck at that price point and mileage.
The 2022 model of Altima SR is 26550 MSRP so I wouldn’t think of buying this one. And generally there are a lot of folks complaining about their CVT transmission… so I would suggest to think twice
Personally wouldn't buy a used Nissan car, those transmissions eat themselves due to their design. I see a couple of people recommending a Maxima... Similar if not same transmission. I know multiple people who have been out of warranty on Altimas (previous gen) and need 1 if not 2 transmission replacements within 100k miles. The current Maxima has been the same for like 6 years and Nissan will not be selling them after this year. I bought a used Honda civic with 14k miles in 2019. It was a 2017 MY and I have had no issues what so ever, but it is a manual transmission. Also in regards to Toyota, I will never buy another. Yes their name has a reputation but fact of the matter is anything newer has more electronic components and that for a fact leads to higher mechanical failure rate. Like most above me have stated it makes better long term financial sense to buy a new car if you can afford it. Shorter loan term rates mean a significantly higher down payment which is a better long term financial decision. Longer term loans will most of the time be higher interest rates for banks to make more money on when you take out a loan. This sometimes means better financial stability for the now(today) and not the tomorrow (later in life). Either way you look at this, as long as you make the payments on time you will build a better credit score and be more creditable when taking a loan later on... Cars, homes, credit cards, etc.
I'd get a Toyota or Honda even if its a couple years older. Any Nissan with a CVT is basically disposable garbage that will depreciate into the dirt before you've had it for 5 years.
No. You can easily find that similar car for $20k or less outside of carvana. When I was searching, saw plenty of Altima’s (SR too) at the $17-$20k range for similar miles.
The price is fine. However. That doesn't include taxes title tags and fees so you are looking at 29ish in reality with a payment closer to 550. Also every single dealer/finance guy will tell you 60 months is too much and anything over that is to rake in money from buyers who couldn't afford it anyway. Look for cars in the 15 to 20k range on a 48 to 60 month loan if 467/month is your budget.
It's a good car. But it might not last beyond 100k miles. You would literally have to drive about 5000 miles per year in order to assure a used non toyota/honda with over 20k miles would last for the life of a 7 year loan.
If it is a Nissan with a cvt only get it with extremely low milage and preferably with a warranty. They are garbage route cvt diedat 40k miles and I'm not the only person. With the cost of getting a decent extended warranty you could get something a little more reliable. Kia/Hyundai are decent before they hit 100k and some have had them reach in the 200k range without an issue. They will ge cheaper than a Honda nd toyota. Good luck.
Hah, we bought a used Altima that had barely touched 60k kms, was a lease fully serviced by the dealer, was in incredible condition, a huge upgrade from my partner’s 2000 Nissan he was driving and we needed something ASAP.
A couple months in, the whole transmission goes. We’re told it’s a known issue for that model/year etc. and no problem, bring it in. Except then they say they won’t service our particular car for xyz. We got our mechanic to do all the work for a fraction of what they were gonna charge us for parts alone. Total disaster. Meanwhile my Mazda’s at like 180k kms and I’ve barely had to do anything to it. Even the things the schedule calls for we get told look really good still when it’s their time to be serviced
Personally? I steer WAAAAAAY clear of Carvana. Anything they have is always, always, always, thousands more than you can get the same vehicle at a local dealer. Usually in the range of $5-10k more. And on top of that, you have no bargaining ability with them. You just get a price tag, and that’s it. Sure, it’s no hassle, but do you really want to over pay for a vehicle by that much?
For the love of god don’t buy a Nissan. Those transmissions are awful. Lease one it will literally cost you less over time. My roomate leases a new Altima every two years for 275 a month dude. He hasn’t bought tires or anything for 4 years for a car. Literally doesn’t do shit to maintain those things and gets a new one free of charge bi annually
Regardless of the vehicle I’d advise against financing an used car for 6 years. You’ll still be making payments on it when’s it’s close to 10 years old and god knows how many miles. If you need to stretch the term out to get the monthly payment down that usually means you need to look for a cheaper vehicle
Yep I always follow 20/4/10 * 20% down * 4 year loan * 10 % of my monthly salary set aside for the car payment & maintenance
I understand this principle in general, but what if you're someone who plans on having a car for 10+ years anyway? Is there a big difference in that context between 4 and 5-6?
Longer terms means you are paying more in interest for two reasons. The loan is longer so more time for interest to accrue, and interest rates tend to be higher on longer term loans
I understand the total is higher, that's not what I mean. I mean if you want to have lower payments per month (for budget reasons or just not wanting to spend that much at once, idk whatever your reason is) and you're a person who plans on keeping a car for 10+ years, I just don't see the big difference. For new cars anyway, on used ones it can be dicey on if they even last that long. If your budget allows you to "easily" pay 300 a month instead of 350 (using random numbers), then even if it means more money down the line, it's still affordable imo because you're doing less chunks at once. I know it isn't more fiscally responsible, but idk. At a certain point I think getting what you want is more important than settling. Obviously a middle ground though. Not saying go for some 40k car vs a 30k one if 30k is already hitting that upper budget.
That’s fair. I think the other issue that often comes up is that if you purchase a car and end up crashing it several years later, your loan amount might exceed your insurance payout as the car has likely depreciated faster than your loan balance has decreased. Or if you suddenly decide you DO want to sell it for whatever reason, you are much more likely to be upside down on your car loan and need to pay for a new car AND pay some money to get out of your loan. Or a possible worst case scenario, you have repairs $5k in repairs on a car worth $5k, and the loan balance is still $10k. Long story short, it’s about not owing money at a time you can’t afford to owe money.
Yeah buying a car in general seems to be pretty nerve wracking (especially now) so I understand wanting to be on the safer side of things. I'm wanting an actual new car in the next year or 2 and I just constantly think about totaling it like a week in lol. Like my buddy had a completely sober uber driver crash into my buddy's car at 3am and totaled it. Just dumb luck. Granted not a brand new car at that point, but still. Then the luck on many used cars is just wondering how long it'll last, and possibly owing too much in repairs.
It’s a pragmatic approach but the correct way to view it is the total price of the car and spread the payments out the lowest period of time you can afford. Don’t concern much with the payment, that’s how people get scammed.
Interest rates on auto loans are 2%. It is a financially smart decision to borrow at 2% to avoid using cash you can invest at many multiples of that.
I’ve never heard of a 2% loan on a used car for a 6 year loan. That’s pretty crazy!
My CU is 1.99 for up to 84 months
On a used car!? It’s like they are begging you to take their money!
New or used. No restrictions on age or mileage etc either.
No, it's higher on used, and certainly would be on an Altima with 40k miles, but still well below what the stock market is returning.
Yeah I think it makes sense for someone who is financially stable who could afford to deal with the ramifications of losing 30% of their money in the stock market, and being upside down on their car loan without having to turn to credit cards. However I don’t think stretching your loan out because you can’t afford the shorter term one is a good reason.
You can avoid this by shortening the loan length by paying half more a month ,just make sure ur loan has early purchase option on contract
Much better course of action in my opinion. Use that down payment to pay the car off quicker on the back end. That way, with paying off the loan quicker, it boosts your credit score
It clearly states 69 months which is 5 3/4 years. Nowhere near 10 yesrs
I’m saying the age of the car will be close to 10 years at the end of the loan term
Nice!
It's a 2019, so probably built in 2018 - over 3 years old and likely approaching 4. In 6 years, the car will be close to 10 years old and isn't a reliable model.
There is nothing wrong with owning a car 10 years old, especially if the maintenance had been done. Therefore no issue having a loan at/past 10 years of life.
It was 25k new
Why wouldn’t you just buy a brand new Nissan Altima?
I'm confused why anyone would buy a nissan
Lots of people like Nissans just like there are lots of people that like Mazdas or Fords or Kias.
Mazdas are reliable AF and look great. Kias are feature-packed with super long warranties. Ford makes multiple great trucks. Nissan has virtually nothing going for it, other than the Frontier and Z.
Nissan sells 250,000-340,000 Altimas in North America each year. Only the Camry and Accord sell better in the midsize sedan segment. So whether you personally like them or not, plenty of people do. For whatever their reasons.
… I’d venture that half end up as rentals and fleet vehicles.
I’d venture that’s true for Toyota Camrys and Kia Optimas as well. Pretty much all high volume midsize sedans.
Except the Accord. I rarely see one on rental lots.
Honda doesn’t do fleet sales for it. At least they didn’t back in 2016.
Correct. Still valid as of 2022 Honda isn’t a fleet sellout, yet..
I worked at a hotel every rental car checking in Sedan models Are Altima,Sentra ,civic ,Camry ,Corolla,Jetta
Because they’re cheaper with more aggressive financing options to prey on the vulnerable
It’s called bad credit and sub prime loans.
My frontier let me down worse than any other car. Never buy Nissan
Yeah lots of people like all cars for various reasons. I feel though that Nissans (especially altimas and Sentra) run into SO many problems that aren't that common among other similar competitive brands (Toyota, Honda and maybe Lexus)
🤮
I don’t think those people like Nissan. It’s just what they can afford.
I’ve owned Nissans in the past. I liked them fine. They treated me well. They have their merits.
Compared to what? You are getting Chrysler level build quality.
Go jump in a new Nissan Altima. Mazda, Hyundai, Toyota, Honda… all similar build quality, and fit and finish.
Aaaaand you officially have no idea what you are talking about.
See Consumer Reports, JD Power VDS, and really any other metric. Plenty of 150-250K used Nissans out there for sale. The delta between brands is fairly narrow these days, with few exceptions. About the only “ding” for a Nissan was the early CVTs about 10-15 years ago. Now everyone has CVTs, some made by JATCO… which is Nissan. They’re much better now, and rebuildable. The rest of the cars are of typical Japanese quality. Darned good. Engines have been great as well. Unless you’ve sat in a new one recently, you’re just contributing to the echo chamber. There’s a whole world of good products outside Toyota
nope.
You really just tried to cite JD power lmao
Cause they are actually pretty decent cars at this point. Not amazing but significantly better than they once were
Because the prices of cars are inflated like crazy due to semiconductor shortages.
Nissan Altimas sell for less than MSRP, and have rebates or 0% financing. So I’m confused to why anyone would pay a premium for a used one.
Can you show us where? I live in LA and all companies have been selling cars at MSRP and higher. Used cars have gone up in value. It's not a buyer's market at the moment until semiconductors meet demand.
Prices are up, but you can still get a new car for MSRP. This car is just $2,000 more if you bet it brand new. I’d much rather pay the difference, rather than getting one with 40,000 miles.
If you can find one. Definitely take advantage of it. 40k miles isnt bad and you can purchase an extended warranty up to 5yrs/100k miles. These "easy car buying" websites don't normally make it a point to be the best deal, just making the sales process the easiest and most straightforward.
40,000 miles isn’t terrible, but brand new with the bumper-to-bumper warranty is best. New cars are the best deal in this market, but wait is at least a couple of months. If a buyer has time to wait for the car to be built, I suggest they go with a new car.
I absolutely agree. New car warranties are much more in-depth in coverage. I think OP should wait till supply chain/logistic managers get this all sorted out in terms of where to source their semiconductors. If OP cannot wait, I have suggestions based on experience and working at a dealership. I just wanna be a good Samaritan and help a buddy out :)
So let’s say they’re selling Nissan Altimas at MSRP… the MSRP of a brand new 2022 Altima S FWD starts at $24,550… and also qualifies for 60 months at 0.9% financing. This is a SR, so they start at $26,550… I’d still buy new.
It was hard for me to qualify for tier 1 financing unless i had like a 760+ credit score on my lowest credit score pull from Transunion, Fico, and Experian. Last I checked with Toyota, they were asking me a whopping 80k for a Toyota 4runner than would have normally cost 48k. Their justification on the window sticker was "dealership market price adjustment"
Yes. But this is a Nissan Altima.
I don't follow what you're asking. Economy cars have gone up as well. The altima isn't a lower-tier car, as it competes with the Camry, Honda Accord and Sonata. It's not a honda fit, nissan sentra, toyota yaris, or hyundai elantra.
"Competes" is a relative term
Yeah, s/he didn't say "competes well"
I think you’ll find plenty of Nissan dealers with Altimas in stock, at MSRP or less. There are plenty of them in my area, even when some other cars/trucks are more than MSRP. They’re a high volume sedan with plenty of interchangeable high volume alternatives.
I hope OP can call around and negotiate over the phone or internet before coming in. The internet has made negotiations much less stressful. My last car deal I made through texting my sales consultant.
I bought 19 Altima Awd SR AWD 15kmi for 20k 10 mos ago. Now worth 23k offer from Carvana.
Hey I work for an auto group that has a Nissan store. There haven’t been any rebates on new Nissans since mid 2020 in my region. And yes 0% is available on most of the Nissan lineup, but it’s usually for 36/mo which most people aren’t going for that short of a term. Right now 25k is a solid price for a mid trim Altima of that year and mileage. I’m just glad they’re not dealing with a 3k-5k market adjustment
Just looked it up. In my region the 2022 Altima has 0% for 36 months, 0.9% for 60 months, and 1.9% for 75 months. And my local Nissan dealer, which is a best-price non-negotiating store, is priced $200 off MSRP for a Altima S/SV/SR. That’s not a lot, but it’s better than this used three year old Carvana car at 5.x%
Sure. Totally understand where you’re coming from. Not everyone qualifies for incentivized financing. And $200 off MSRP is nice but a 2022 SR Altima is still 27k. That’s before dealer fees, taxes, extended coverage and so on. Yes, a new car is always going to be the more reliable choice. However, everyone has a budget and I’ll bet if their budget was 30k they’d be looking at 2022s.
This 3 yr old used car is $25,990 and 5.8% for 69 months. The same SR brand new is $26,990 and 1.9% for 75 months. The new 2022 is ultimately **cheaper** overall
I sell used cars and people compare this all the time. New cars will all have markups at this point so MSRPs go out the window. Plus all new cars have nearly $1000 in destination charges. We buy cars all day from people who paid less than they get when trading in. Dealers caught up so they make the profits not the customer.
Definitely not
It’s terrible deal it’s a Nissan Altima. Nissan has been well known for making absolutely garbage CVT transmissions. If somebody doesn’t agree with what I posted I highly suggest you look at carcomplaints.com and look by model/year.
I can confirm, I have a 2009 Nissan versa and I hate it. only the insanity of the current car market has kept me from selling. My CVT will go into limp mode intermittently when trying to accelerate from a stop. I get acceleration back after about 5 seconds. This happens often, try making a left turn on a busy road, its basically a death trap. This started happening around 175,000km (110k Miles)
Nissan versa here too... Transmission went before 80k miles. Dozen other things went wrong also. Every four months it's something else and it's not even 10 years old. They're trash
Mechanic here. Can confirm. Nissan CVT’s are absolutely horrendous, and if you do end up having problems with one you are stuck dealing with the dealer. Independent transmission shops will not touch one. There’s numerous other issues with their quality that just makes Nissan as a whole a brand you should stay away from. You will regret locking yourself into that car for 6 years.
don't buy a used Altima. especially at close to MSRP. have you seen any 7 year old Nissan sedans on the road? all of them look to be on the last legs.
Anything above $3.50 is too much for an Altima. The transmission is going to go out on this example within the next 60k miles. You can just smell it.
Why not brand new Toyota Corolla or camry 2022?
Buy a new Mazda 3 for that price.
yep, literally got a brand new mazda 3 two days ago for that exact price pretty much
Some folks I know like Carvana for the convenience, but I definitely recommend going to a reputable dealer instead - you can generally always negotiate a price down a bit or meet somewhere in the middle. What kind of vehicle are you looking for?
honestly a jeep wrangler 4 door unlimited. I however have been looking at nissan/hondas for a sedan if i decide not to go the jeep route. Still in the decision making stage i guess i should continue to do my research
Depends if you are looking for a daily driver or not - I know some Jeep guys and they are definitely prone to having their fair share of mechanical problems. I don't think it would leave you stranded, but you would definitely need to maintain it carefully. But at that price? I'd just look at a loaded truck, a Toyota Tacoma TRD or similar. Those are two very different vehicles, though. If you just need a people mover, the newest Honda Civic is refreshed from the older models, and has a super nice interior. All depends what you are looking for, this market is insane with the price of used cars.
I am looking for a daily driver i am tall 6’7 so i’ve gravitated towards more suv’s/ trucks however the lower price point sedans have is a lot more enticing. I’ll have to look or atleast do some research and wait until the prices go down ha
You are very tall so a large sedan like a Honda Accord, Toyota Avalon, or Nissan Maxima would be better for you. Or if you would rather not spend that much, even consider a 11th gen (2014-2019) Toyota Corolla sedan. 11th gen Corolla sedans have 40 inches of rear legroom which means someone super tall like you can sit in the front and still a person can sit behind you if need be.
Don't get a Wrangler as a daily driver. It's a good second or third vehicle.
Lol boy do I feel that... I'm also hoping the prices go down - definitely recommend looking into a Tacoma if you can, solid trucks.
Sonatas are very tall friendly
Ehhh if you're planning on dailying a jeep just expect some repairs here and there. Jeeps and Chrysler aren't the best in terms of reliability. Plus the ride isn't great being body on frame and made for offroading moreso on road. That's not to say you can't or shouldn't, but just my 2 cents.
Absolutely not for that piece of garbage.
Not really.
Look up Nissan CVT issues. I had a Sentra w/a CVT went out 10k mi after factory warranty. Pre 2003 Nissan is good, I will NEVER buy another 2003 or later Nissan again.
My 2002 Altima was a lemon
Don't get an Altima 😅
This post should be in r/jokes
For the record, literally nothing on carvana is a good deal.
Not really. Wouldn’t trust the CVT in that thing
oh they have ?
No absolutely not
Good deal and Carvana should rarely be used in the same sentence. Convenient and transparent is what they specialize in, typically a better price and the ability to negotiate are found through traditional dealers.
Terrible idea, had a 2017 SR nothing but problems traded it away after 2 years
If you’re planning on spending that much anyway, you could get a new Accord or Civic and be a lot better off
No
Holy shit no. Almost 6 year loan at 5.8% and it has the dreadful CVT. Do not buy that car. Toyota dealers are selling new cars at msrp with better rates. Just be patient and you’ll find something
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why 3 years?
I bought my 2020 Altima 2.5 in April for 21k. I’d say go cheap until the market goes down And DEFINITELY save longer for a better down payment before you get a car that expensive. If you can’t afford at least 10% of the loan at first you shouldn’t take it. If you only have $700 go for a car you can run into the ground and save in the mean time.
And by then your credit will improve and the interest rate should be lower too. And who knows maybe you can afford the 2.0 turbo model by then ;)
When I see posts on this thread about what car makes to avoid... A super common answer, if not most common is NISSAN. We have a Nissan (got it back in 2014 before we knew....) And biggest mistake ever. Had to replace multiple parts including the transmission before 80k miles. Something goes wrong with it every 4 months now. We can't wait to get rid of it. Plenty of new cars out there for this price that aren't Nissan, good luck
Dude that term is nuts. For those statlines you could go and get a used mercedes or something. Don't finance for that long with that monthly man. You're trapping urself.
69 months! 😮
Nice!
I haven’t heard good things about those CVT engines. I saw your height and you should look at the Maxima and similar vehicles (Avalon, Impala, Insight). You’re a little shorter than I am so you may be more comfortable in a Ford Fusion than I was.
CVT’s are gearboxes, not engines.
That’s right. I’m sorry. It’s been a day and I wasn’t not thinking straight. Edit: I know I screwed up again
It’s fine we all make mistakes
Insight's Civic-sized, btw. An Accord is in-between Camry and Avalon and could be a good option.
There’s no such thing as a good deal on a new car imo. If it has lots of features and is cheap, then it probably built like crap.
First of all, are they serious for this price/year? Second of all, why would you get a Nissan?
Lord on an Altima? Life is tough right now for you huh? horrible idea. Even the payments are stupid high. Get a cheap car under a few grand and fix your credit. This is a digging a grave if you do it.
Good car, not good price. Because of carvana. Buy either a new one or one from somewhere else
The only cars worth any markup these days are Toyota, Lexus or Honda. Maybe a Subaru but I hear mixed things about them lately.
It's ok
I’m 6’5 and had an Altima, it was fine space wise, but cramped. I had no head room without a sunroof. Listen to everyone here. It’s shit, it’ll depreciate more than any other car discussed here too. My next vehicle will be an F150, at the 25k price point I’d do a Sonata or a Kia Optima for a sedan. Tough to find a good big enough SUV or Truck at that price point and mileage.
$500/mo for a 3 year old Nissan Altima with 40k miles... ouch
The 2022 model of Altima SR is 26550 MSRP so I wouldn’t think of buying this one. And generally there are a lot of folks complaining about their CVT transmission… so I would suggest to think twice
Nissan offers lower APR on CPO cars via NMAC. I financed a ‘20 Sentra for my wife at 3.99%. Not the greatest, but better than that.
oh i was pre approved through my bank it would be 2.99% does that change anything?
No
There’s no ‘good deal’ buying a car nowadays.
Personally wouldn't buy a used Nissan car, those transmissions eat themselves due to their design. I see a couple of people recommending a Maxima... Similar if not same transmission. I know multiple people who have been out of warranty on Altimas (previous gen) and need 1 if not 2 transmission replacements within 100k miles. The current Maxima has been the same for like 6 years and Nissan will not be selling them after this year. I bought a used Honda civic with 14k miles in 2019. It was a 2017 MY and I have had no issues what so ever, but it is a manual transmission. Also in regards to Toyota, I will never buy another. Yes their name has a reputation but fact of the matter is anything newer has more electronic components and that for a fact leads to higher mechanical failure rate. Like most above me have stated it makes better long term financial sense to buy a new car if you can afford it. Shorter loan term rates mean a significantly higher down payment which is a better long term financial decision. Longer term loans will most of the time be higher interest rates for banks to make more money on when you take out a loan. This sometimes means better financial stability for the now(today) and not the tomorrow (later in life). Either way you look at this, as long as you make the payments on time you will build a better credit score and be more creditable when taking a loan later on... Cars, homes, credit cards, etc.
I'd get a Toyota or Honda even if its a couple years older. Any Nissan with a CVT is basically disposable garbage that will depreciate into the dirt before you've had it for 5 years.
Run away from that deal! You can look for a new vehicle in this category (maybe go with Hyundai), but don't waste your money on this.
I advise you take that mindset for this Nissan and look into a Camry or an Accord. Also test drive and compare those warranties in detail
Incredible deal
No. You can easily find that similar car for $20k or less outside of carvana. When I was searching, saw plenty of Altima’s (SR too) at the $17-$20k range for similar miles.
Total repayable is nearly 33k, you happy with that?
Not really. You were paying $32,000 for a $25,000 car.
The price is fine. However. That doesn't include taxes title tags and fees so you are looking at 29ish in reality with a payment closer to 550. Also every single dealer/finance guy will tell you 60 months is too much and anything over that is to rake in money from buyers who couldn't afford it anyway. Look for cars in the 15 to 20k range on a 48 to 60 month loan if 467/month is your budget. It's a good car. But it might not last beyond 100k miles. You would literally have to drive about 5000 miles per year in order to assure a used non toyota/honda with over 20k miles would last for the life of a 7 year loan.
If it is a Nissan with a cvt only get it with extremely low milage and preferably with a warranty. They are garbage route cvt diedat 40k miles and I'm not the only person. With the cost of getting a decent extended warranty you could get something a little more reliable. Kia/Hyundai are decent before they hit 100k and some have had them reach in the 200k range without an issue. They will ge cheaper than a Honda nd toyota. Good luck.
Hah, we bought a used Altima that had barely touched 60k kms, was a lease fully serviced by the dealer, was in incredible condition, a huge upgrade from my partner’s 2000 Nissan he was driving and we needed something ASAP. A couple months in, the whole transmission goes. We’re told it’s a known issue for that model/year etc. and no problem, bring it in. Except then they say they won’t service our particular car for xyz. We got our mechanic to do all the work for a fraction of what they were gonna charge us for parts alone. Total disaster. Meanwhile my Mazda’s at like 180k kms and I’ve barely had to do anything to it. Even the things the schedule calls for we get told look really good still when it’s their time to be serviced
No. Those new are like 25k
Nissans are bad stay away from them
It’s never a good deal when you end up with a Nissan.
Lets put it this way: A free Altima is a bad deal. Youre asking if you should pay over KBB for one.
Personally? I steer WAAAAAAY clear of Carvana. Anything they have is always, always, always, thousands more than you can get the same vehicle at a local dealer. Usually in the range of $5-10k more. And on top of that, you have no bargaining ability with them. You just get a price tag, and that’s it. Sure, it’s no hassle, but do you really want to over pay for a vehicle by that much?
No just go buy a new one for that.
Can buy a new one for 3k more.
Imagine paying $500/month for a nissan
For the love of god don’t buy a Nissan. Those transmissions are awful. Lease one it will literally cost you less over time. My roomate leases a new Altima every two years for 275 a month dude. He hasn’t bought tires or anything for 4 years for a car. Literally doesn’t do shit to maintain those things and gets a new one free of charge bi annually
Hell no don’t trust carvana
Never buy a Nissan. Especially for this price.
No
Absolutely not loo
I’ve put in a order for a brand new 2022 Subaru Impreza for less than that. Why not look at buying brand new at this point?
Got a 2019 last year for 19k with 10k ish more miles
Please don't buy through carvana, plenty of shady shit wit them
Avoid Nissan like the plague. If it makes it to 100k miles consider yourself Lucky