New Or Used?

[Craig Mac]

Just wondering what the general consensus is whether to buy a used car or a new one if it were time for you to get a new car.

Here are the parameters, you can trade in and put 7k down and the car you want to buy is around 35k. Given the fact that your deposit is the value of depreciation, are you better off buying new or going with a used car?

 

[Angry Bill]

New car for me. Then I know how it's cared for and driven. Just my choice. I don't lease cars either, but, then I keep vehicles longer than most people too,

 

[GoingPostal]

I say buy new. there was a time when used was a good option but in today's market used cars are overpriced. only reason i'd go with used is if I really needed a car and used is only thing i could financially afford. And like bill said with used you have no idea if the previous owner drove it like he stole it. The previous owner got rid of it for some reason.

 

[Mickeymorris626]

I'll echo what they've said. I'd buy new, but I would also keep the cars depreciation value in mind when you are looking for a brand and model.
That was one of the biggest sellers for me when I bought my WRX. I took it into the dealership last month (a year and a half after I bought it) and they said they'd give me $1500 less than what I paid for it. You hear all these stories about the car loosing 30% of its value once you drive it off the lot, well it's not necessarily true for all brands. It makes the ROI seem better on the car. Just my two cents.

 

[ckay]

Depends on the vehicle. Daily drive new. A second car like a toy, used and take your time.

 

[RacFocus]

We just bought a new car. Basically because we got new jobs and could afford it. Car had 5 miles when we drove it off the lot. Some used cars seem so expensive now days anyway. Might as well pay a little extra for brand new.


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[sofc]

I buy used because I like nicer cars than what I'm willing to spend on a new car.

But it does depend on car and resale value and honestly if you want the hassle of used given the savings vs just buying new.

 

[atbat82]

I've always bought used. I'm very deliberate in my search and willing to wait for the right deal. I also take each one to my own mechanic for an inspection before I buy it (if the stellar won't agree to this, that's enough of a red flag that I walk away). Had pretty good luck so far.

I'm also a person who buys a car 4-5 years old. If I was looking at something newer (2 years old?) I'm not sure the savings would be enough for me to buy used. I might just bite the bullet and buy new.

Good luck in the search!


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[jasonsbeer]

I say buy new. there was a time when used was a good option but in today's market used cars are overpriced. only reason i'd go with used is if I really needed a car and used is only thing i could financially afford. And like bill said with used you have no idea if the previous owner drove it like he stole it. The previous owner got rid of it for some reason.

+1 I couldn't agree more.

 

[D.L.Ruth]

I buy use unless I have the cash for new. In your example, if the car I wanted was 35K then I better have 35K to spend on it. We don't finance anything so when we buy a car it is usually in cash, no down-payment no financing just cold hard cash.

 

[ENV]

It depends. My last car a 2011 Audi S4 was brand new when I got it. My current car a 2012 C63 was used and I bought it direct from the owner. I got it because it was very low miles (17k) the owner was a Benz master AMG tech and the car was well cared for plus the factory warranty is good until April of 2017 or 50k miles. The original sticker price in 2012 for the car was $83k + taxes (including gas guzzler tax). I got the car for around $42k. I got a lot more car for my money than most people. So at the end of the day new or used depends on what you want out of the car, types of cars you like, etc.

 

[ChuckMejia]

Certified used vehicles with warranty and no more than 1-2 owners. And I make sure it wasn't a business vehicle or used as a rental.

 

[Craig Mac]

Thanks guys. Still weighing the options and everything, in no rush and looking spring time to purchase. Definitely leaning towards an affordable new car.

 

[jkittle99]

If you want to keep it and pay it off, buy used. If you want to trade it in a few years, buy new. My logic is not likely logical though.

 

[manbearpig]

I always purchase used vehicles. I only drive a Chevy Tahoe and that's what I purchase each time. For me they first owner paid 63K for the vehicle. Put 65K miles on it and I bought it from a dealer for 21K. I couldn't stomach taking that big of a loss for only putting 65k on it.

 

[jasonsbeer]

One way to think about it...what kind of vehicle do you want and how many miles do you think you want to get out of it. Figure the cost per mile and go with the lowest. Might be new, might be used.

Example...If you expect a vehicle to last 150,000 miles, a used vehicle might already have 50,000 on it, leaving you 100,000. A new vehicle with 50 miles on it leaves you 149,950. Divide the purchase price by remaining miles, MPG, etc. The math will work out better one way or the other.

But, if you are like me, you never know what you are going to be doing with your vehicle 100,000+ miles from now. So you need to be realistic.

Math will not figure in if you are not buying a vehicle based on economics. e.g. pussy.

 

[danmdevries]

I drive sub $1k cars exclusively. Usually get word of someone with a car they think they can't sell because of mileage or cosmetics etc. I don't buy needs work cars.

Anyway, I've been thinking about buying a new truck, and the late model used vs new with incentives n stuff, comes to about the same price.

I did buy the wife a new car a few years back and have hated having the car payment. It also depreciated horribly, valued about 6k now and just paid it off at a total of 25k.

I keep my cheap cars until they get scrapped. But I'm also a mechanic and have every bit of tools I need in my garage.

 

[Craig Mac]

My history with cars is that I have bought used and drove them for 7-8 years and then traded in or sold the car I had for next to nothing and bought another used car. These vehicles were all well over 100K miles and getting to the point were repairs were going to start being more than the car was worth. I typically average about 10k miles a year.

I am selling a fully loaded 2006 Hyundai Sonata with 70k miles on it to my GF because she desperately needs a reliable vehicle and this car has only had one other owner, my father sold it to me 4 years ago when he purchased a new vehicle. We weighed the options of her buying a used car and me continuing to drive the car I currently have but I think it best serves both of us for me to sell her my car and buy a new car for myself. This way we have a reliable used car and a new car covered by warranty.

That said, she has a strong opinion against me buying a new car and feels it's better value to buy used and suggested going the certified pre-owned route. When I looked I didn't see it as that much of a savings, more of just a way of paying off the balance on what was owed on a used car.

 

[ChefBoyRG54]

My history with cars is that I have bought used and drove them for 7-8 years and then traded in or sold the car I had for next to nothing and bought another used car. These vehicles were all well over 100K miles and getting to the point were repairs were going to start being more than the car was worth. I typically average about 10k miles a year.

I am selling a fully loaded 2006 Hyundai Sonata with 70k miles on it to my GF because she desperately needs a reliable vehicle and this car has only had one other owner, my father sold it to me 4 years ago when he purchased a new vehicle. We weighed the options of her buying a used car and me continuing to drive the car I currently have but I think it best serves both of us for me to sell her my car and buy a new car for myself. This way we have a reliable used car and a new car covered by warranty.

That said, she has a strong opinion against me buying a new car and feels it's better value to buy used and suggested going the certified pre-owned route. When I looked I didn't see it as that much of a savings, more of just a way of paying off the balance on what was owed on a used car.

i bought my last two cars used. 1 was CPO and 1 was not. Both were 09-10 and bought within last couple years. I got both for 11-12.5K with 70K on an SUV and 54K miles on 4-sedan. Both have had 0 issues and both only had one owner. Carfax wide acceptance has been a great tool.
I dont value having a brand new car given how expensive they are to drive off the lot, but others do and i get that. I just like to look for good value on popularly reliable cars with lower miles at fraction of prices. My wife drives 15K/year maybe, and i drive <10K so all i need is something comfortable and in good shape that i know will start in the winter and is safe.
I guess im just saying that i have had really good results buying used. I bought new when i was younger and always seemed like more of a burden than it did a good purchase. just one man's opinion

 

[StogieNinja]

Used.

1992 Mazda B2200 - paid $2500, 100k+ miles; drove from 2000-2006; gave to my brother-in-law
1993 Mazda Protege - paid $500, 136k miles; drove from 2006-2014; sold after blowing a head gasket for $400
2000 Ford Windstar - paid $4200, 120k miles; driven from 2007-current; I've put about $4k into it since purchase, but under $9k over 8 years feels pretty good overall.
1997 Honda Accord - paid $1500 + $1k in repairs and tires; 199k miles; driven from 2014-current

I buy my vehicles pretty much fully depreciated, pay cash, and have never had car payment. The repairs have always been inexpensive compared to a regular car payment.