Dodge Caliber or Chevy Equinox?

[michael b]

2005 Equinox LS, 25k miles, $14.500

2007 Caliber XST, New, $17,500

Both will finance for up to 60 months.



Any thoughts?

 

[Ben Poche]

2006 ford focus loaded new loader $16000 basic $10000

 

[Ben Poche]

 

[Gavin Allan]

Used Escape or Tribute instead?

 

[Tom Schindler]

My cousin works for Cutler/GMAC. because of that, they went with an Equinox because they got GM employee pricing.



They hate it!!! Trade in value on it is less then they owe.



If it were a choice between the two, go with the Caliber.



An Escape or Tribute would be a better choice.



Avoid going 60 months. If you are that hard up that you need to finance for 60 months, you should consider not getting anything. Honestly.





Tom

 

[Mike Wilson]

On the Caliber, they are nice! DirecTV has an interactive channel where you can go to check out the vehicle. Really cool!

But... as I have said before, try to stay away from anything brand new for the first model year,

or at least the first six months of production, or till they have been on the road for about

six months. Gives 'em time to get some of the major bugs worked out.

And almost anything you buy nowadays, you will be upside down in for your first 2 years,

on average, unless you put a "bookoo" load of cash down when you buy it.

 

[Jeffrey Travis]

Avoid going 60 months. If you are that hard up that you need to finance for 60 months, you should consider not getting anything.

60 has always been the norm although other 'word on the street' was if you cannot pay it off in 3 years you are in over your head. 60 months is not always a bad thing to do if you are not really liquid when it comes to cash. For someone who has been 'downsized' 3 times in 7 years, you always want to make sure you have some wiggle room if times get tough.



The rates between 48, 54 & 60 are never really that big and as long as you can keep to making the 48 month payment (pre-pay) you will be done is just about 48 months. With auto-debit these days it is easy to make more than just the requested payment so it automatically comes out each month and you do not have to be 'trusted' to keep making the higher payment. Just make sure your state does not have penalties involved with pre-payment - that may be an old problem but something to look into just the same.



This is similar to people going to a 20 or 25 year mortgage - the rate usually does not change until 15 years. If you want to pay it off in 20 or 25 years, go 30 year on the rate and prepay. If for some reason you get strapped financially you can go back to your lower payment until you get back on track.



JT#14

 

[Tom Schindler]

For me, I prefer 36 months and only financing 10 grand, no matter what the vehicle purchase price. I pay 100/month extra and in about 24 months, it is paid off.



If I have to finance the complete amount and then go 60 months to buy a car, I will buy something used to drive for a year to save up money to buy something new.



IMO, if you can afford $500 or $600/month car payment, you can save 400/month for a new car while driving a rust bucket for that year.





Tom

 

[Bart Adkins]

don't EVER buy a chevy anything...EVER!

 

[Craig Long]

My vote is the Caliber, it is different, but so was the ST.

 

[P M]

Oh, even as a Ford guy I can appreciate a '69 Camaro with the 302 Z28. But I'd still get a Boss 302 because I'm a Ford guy.



Anyway, on the subject at hand, the Caliber looks pretty neat. They are trying to be innovative and create interesting styling. I had an Equinox as a rental for a few days and did not like it at all. Primarily the steering. I now fully understand what the term "numb steering" means. Interior felt very cheap as well. But, it was a rental and you have to give up something to get that kind of price.

 

[Tom Schindler]

PRM,



I agree with you. Ford blue all the way. Show me an old Nova, Camaro, or Impala that looks nice, I am in love. There is just something the domestic cars have. It is like there is something that just runs wild in your blood.





Tom

 

[michael b]

I bought the Caliber. Black with comfort group. R/T package. The R/T doesn't mean a whole lot in the performance department, It's mostly looks. 2.4 motor probably wouldn't even beat the Sport Trac. With the extras it was a little more then 20K. Wife liked it & the mpg is 26 city & like 32 highway. It does have the Boston Acoustics package with the speakers that fold down from the hatch that is pretty cool for outside entertainment. Thank goodness I'm done car shopping, I can relax now for a couple years

 

[shawn stonbraker 2]

Congrats Tonka. I do like the looks of the Caliber over the Equnox. Let us know how it goes.

 

[Richard L]

I personally would not buy either vehicle. The Caliber is too new and the Equinox is just a Saturn Vue in Chevy clothing. My wife has a Saturn Ion-3 and although we have not had any major problems in over 3 years, we only have 12K miles on it. It's just not a real fun car to drive, but it does get pretty good gas mileage.



As for 60 months financing. There is nothing wrong with that as long as the Interest Rate is within reason. I financed my 2003 Sport Trac for 60 months at only 4.79% and decided to pay it off a couple of months ago after only 32 months. My wife's Saturn Ion is also financed for 60 months and the interest rate is 0.00%. I could sell it tomorrow at the trade in value , pay off the loan balance and still be able to pocket about $1500.



...Rich

 

[michael b]

Thanks for the advice everybody, Thanks for the "props" stonemiser.