Cars, New or Used, watchu buy?

[deadheadskier]

Another topic on cars....

My most recent vehicle purchase 3 years years ago was my first brand new car. Prior to it all cars were used, but new to me. It was nice to roll out of the lot with that brand spankin' new looking, smelling, feeling car with all the warranties, coverages you could ever need. No question a nice new car is pretty sweet to get into.

...but I don't see myself buying brand new again. From everything I've looked at, it seems like the way to go to get the best value and longest lasting car (for that model if you maintain it well) is to buy a car that's within two years old and has under 20-30K miles. This is assuming it was well cared for and driven by the first owner, the major gamble.

Tell me I'm wrong?

Camp, I fully expect you to throw down some knowledge here.

 

[o3jeff]

Buy a Hyundai!;-)

 

[Hawkshot99]

Bought my 05' truck in March of 09' with 69k miles. I looked at them new, but did not like the initial hit you take driving off the lot.

 

[mondeo]

This is assuming it was well cared for and driven by the first owner, the major gamble.

That's the key. If I didn't go for performance vehicles that would likely be thrashed by the original owner, I'd buy used.

 

[bvibert]

I mostly drive cars that I find abandoned on the side of the road, or in the woods. Ok, well not really, but some of them may as well have been.

Buying a brand new car isn't an option right now, but if it was then I'd probably go with a low mileage car that's a few years old.

 

[severine]

Like Brian said, even if buying new were an option, I would still buy used. I have a different perspective though--with 2 kids who will trash my vehicle anyway (have you seen the pics of how my kids have basically "keyed" my truck--on both sides!--with rocks???) I don't think I can handle the mental anguish from my kids wrecking a pristine, new vehicle. One that's already broken in a bit is a better option.

 

[deadheadskier]

That's the key. If I didn't go for performance vehicles that would likely be thrashed by the original owner, I'd buy used.

Note to self

NEVER buy a used car from mondeo.

:lol:

 

[Geoff]

I buy new cars, stick a 100K extended warranty on them, and maintain them properly. By the time I'm done with them, they owe me nothing. I'm not willing to take the risk of buying a used car that was not maintained properly or had the snot beaten out of it. Over 150,000 miles, the cost difference is very small.

 

[deadheadskier]

I guess for me, 150K miles is six years tops closer to five years driving for me. A 25K car is going to lose 5K minimum coming off the lot in the first six months, probably closer to 8 after a year. If it's just 5K, that a 1000 bucks a year over the course of the vehicle's life. Certainly not HUGE money, but I'll take the extra grand.

 

[ComeBackMudPuddles]

depends on what you're going to use the car for and where you live....if it's the primary family hauler or is used heavily for work, i tend to want new for peace of mind (making the depreciation hit worth it to me). if the car is primarily a city car, then a good, cheap, used one is fine.

 

[Philpug]

My Forester lease ends in April. I really want to get off the "new car carousel" having almost as many cars over the past 25 years as I have had skis. Right now I am leaning one of two ways...New: JEtta TDI wagon or Used: Subaru Legacy wagon.

 

[GrilledSteezeSandwich]

My last three cars were purchased new...

1999 Jetta in college, 2001 Sentra after college and 2006 Subaru Impreza almost 4 years ago. I like the fact that the first few years are covered under warrenty and essentially maintenence free. You can then either choose to drive it into the ground or purchase another car and get a decent resale on the 3-4 year old vehicle. I like the idea that I'm the only one who has ever driven the car. One of my friends who makes more money than me buys a used car every year for about 2 grand like a 90 Jetta..drives it for a year and then sells it for sometimes as much as he paid for it...that is the best value and if it turns into a real lemon..you can just dump it..

 

[riverc0il]

I have bought used (or "preowned" as they like to call it :lol: ) on both of my cars out of necessity (being a poor recent college grad and all). Used is a great value, especially in the economy car market in which few cars hold their value well (save for perhaps Carollas and Civics to a better extent than most). My first car costed me $5k and I got three years and 75k miles out of it which was a cost of around $1.6k per year. My current car costed me $8k and I have 120k miles on it in six years. Two more years with this car with be $1k per year. I like looking at car costs per year and anything under $2k per year of use when you average it out is solid.

While used is a terrific deal, the cars are only as good as their previous owner's and the factory that built them. S has had horrific problems with used cars over the years. When her last car broke down, we were forced to make a rush decision and picked up another used car that turned out to be a junker. Anytime repair bills begin to reach 50% of what you paid for the car in the first place... well, that just is not good.

My next car I am planning on going new. If I can take a new $20k car to 200k miles, that is $2k per year and fits my standard of a good value. After having driven cheap used economy cars for 10 years, I can't help but feel I owe it to myself to buy something nice on my next car. After S's bad luck with cars, I would love the piece of mind that it is probably a warranty issue if anything goes wrong. And if needed you can always trade up within three years or 36k with minimal loss in value aside (taking into consideration cost per year of driving value). Used cars loss value a lot quicker than new cars once you get past that 3 year window when the car can still be resold by the dealership for a decent price.

To me, it is ultimately about value in dollars per year, and I can deal with driving the same car for 10 years to max out its life, so buying new works for me. I think paying a little more for a new car is acceptable but I don't understand how people can toss down $40k+ for a new car when that money could be used in so many other ways had they just bought something a little more reasonable.

 

[GrilledSteezeSandwich]

I think paying a little more for a new car is acceptable but I don't understand how people can toss down $40k+ for a new car when that money could be used in so many other ways had they just bought something a little more reasonable.

Some people are very showy..or are car nuts....or just have alot of money. My Dads bimmer is about 40k, the truck is tiny, it needs premium gas..but I don't think he would want to drive around in a Prius or Civic..different strokes for different folks..

 

[riverc0il]

Yea, totally a different strokes sort of thing. Most people probably don't understand how I could possibly spend over $1k a year in skiing expenses (not counting any big equipment upgrades) or how I could have two ski boots and four skis that get actively used each season. I got a skiing problem, I can admit it. :lol:

 

[hammer]

To me, it is ultimately about value in dollars per year, and I can deal with driving the same car for 10 years to max out its life, so buying new works for me. I think paying a little more for a new car is acceptable but I don't understand how people can toss down $40k+ for a new car when that money could be used in so many other ways had they just bought something a little more reasonable.

As mentioned, I think it depends on what you want...I could go out and get another Subaru to replace my nearly 11YO Outback, but this time around I'd like to find something a bit more upscale.

Ever since I got out of college, I've always purchased new, and I've traded in when I needed something bigger/more practical (Civic for an Exploder, Integra for an Outback) or when the car started to cost a car payment a month in repairs (Chrysler Laser for the Integra, the Exploder for a Highlander). This is the first time I'm buying in due to reaching my current car's "end-of-life", and it was really nice to be without a car payment for several years.

 

[campgottagopee]

Right now I think new is the way to go, and here’s why. With the manufactures captive lending sources offering incredible APR’s and attractive leasing options the “monthly cost of ownership” gap has narrowed between new and used. That, and the fact that GOOD, low mileage, no paintwork pre-owned cars are bringing a premium right now make buying a new car even more sensible when it comes to value and piece of mind. If a person can lease then that’s the way to go, if I had to buy a car for sure that’s what I would do. I even think the “used car market” will get worse before it gets better in terms of value. This is due to the fact the domestics have cut out leasing therefore fewer and fewer cars will be retuning to the market with “good” miles driving the prices even higher. Right now, new is where it’s at.

 

[ComeBackMudPuddles]

I can deal with driving the same car for 10 years to max out its life

this is something i cannot do....maybe i'm a victim of the million car ads/day, but i'm too much of a car whore to stick with one car for 10 years. i'm always thinking about the newest, latest and shiniest models.

that being said, i've always ended up with the most practical and "boring" models on the market. it's nice to dream, though, i guess.

 

[Geoff]

depends on what you're going to use the car for and where you live....if it's the primary family hauler or is used heavily for work, i tend to want new for peace of mind (making the depreciation hit worth it to me). if the car is primarily a city car, then a good, cheap, used one is fine.

+1

I need "reliable". I'd only buy a used car if I knew the original owner and had all the maintanence records.

 

[Glenn]

We've always purchased used...it's how we roll.

However, right now, I'd consider going new; especially if I was in the market for another Grand Cherokee...or other domestic model.

I was talking with my buddy at the dealer (private dealer) we take our A6 too. He said new cars sales have slumped so much, he's paying thousands more for used Audi's (at the wholesale level) than he was about 6 months ago.