I still don't own a car, and I am a heavy bike commuter. I have been commuting by bike over summer, rain, and snow (I live in the North-East USA). It has been working for me for the past four years since I was in grad school, and my schedule was very flexible.
Now I have a full-time job, and my partner lives in another state. For the past four years, I have been renting cars when needed. Sometimes to visit her, when flights are price, or when we want to do something different, public transportation is unavailable. But now I have been giving a second thought about not owning a car.
I haven't put the numbers on paper, but maybe I could have bought a cheap car because of the amount of money I have spent on renting a car. This could be true if I bought a car about three years ago. For example, my partner got a Ford Focus 2014, with 65k miles for ~$5K.
As we know, chip shortage is keeping the car price very high. So, I am not sure if buying a used car now is good. Or even buying any car is a GOOD idea.
As a background, I am not really into cars, not hookups with carmakers, fresh paint, etc. I am just looking for a reliable car that could last +10 years. I aim to get a sub-compact SUV since I do several outdoor activities. So, it is easier to carry stuff. Also, my parking is free in my apartment complex.
I have been doing my finances homework, and I have all the bases covered (emergency fund, Roth 401k, HSA contribution). I make ~100k, and I still have some money towards a car purchase at the end of the month. So, I would be comfortable even buying an off-lease SUV, if it is a good deal.
I already saw two dealerships, which I had a bad experience: the car was not too price, in my opinion, and I'm not too fond of the negotiation process. The dealership did not consider my goals and just wanted to sell.
Any recommendations if I should wait and see the price drops in 2022?
carvana.com offers an easy way to purchase a car, but I can not find the best deal. Do you agree? DO you know any other website that provides a similar experience as carvana?
It is worth sharing that my company provides: GM Employee Discount Price, Ford Partner Recognition program, Volkswagen Supplier Purchase Program, and other local dealership discounts. The buyer does not generally pay dealer admin fees and spends a few less than MSRP using these plans. (This is what I learn from reading their policies). Does anyone have experience purchasing a car through any of these partnership programs?
*I apologize for the long description. Any comment would be appreciated since I am completely lost in this auto world.