Generally speaking, I buy used vehicles. The hit you take the moment you drive that brand new vehicle off the lot is just too much for me! *knock on wood* I've had great luck with buying used vehicles. That being said, however, my last purchase was a brand new vehicle. In 2012 I purchased a 2013 Jeep Wrangler Unlimited. The reason I bought this one brand new, is they hold their value exceptionally well. Purchased the thing for $29.5k. According to NADA, right now (after 43k miles) it's worth $28.5k. That includes the $725 subtraction from the value for the fact that it's not automatic. I find that hilarious, considering I went out of my way to make sure it was a manual. Unless I'm in the market for another Jeep Wrangler, or a Toyota Tacoma, i'll continue to buy used.
New Or Used?
- Thread starter Craig Mac
- Start date
good question, Criag... i am currently in the market for a new car.
normally, i would recommend buying a used car. new cars will depreciate something along the lines of 10% the moment it is driven off the lot. If you are in the habit of trading in your car every 4, 6, 8 years, used is the way to go.
however, if you are the type to buy a car and keep it until it completely dies 10, 15, 20 years down the line, buying new is fine. this is the camp that i am in. there are awesome deals out there if you scoop up a previous model year when the new model comes out (ex. brand new 2015 car when the 2016 version of the same car is released).
also, i think everyone should have the feeling of buying a brand new car at least once in their lifetime.
normally, i would recommend buying a used car. new cars will depreciate something along the lines of 10% the moment it is driven off the lot. If you are in the habit of trading in your car every 4, 6, 8 years, used is the way to go.
however, if you are the type to buy a car and keep it until it completely dies 10, 15, 20 years down the line, buying new is fine. this is the camp that i am in. there are awesome deals out there if you scoop up a previous model year when the new model comes out (ex. brand new 2015 car when the 2016 version of the same car is released).
also, i think everyone should have the feeling of buying a brand new car at least once in their lifetime.
Craig Mac
BoM 4/10 7/11 12/14
I plan on driving said new car for a long time, I've only ever bought used cars and every one except my current one had 0 value when I got rid of them and got to the point were repairs were not worth it. I don't have a garage or an extensive tool set or even a desire to fix my own vehicles either, so that I think is something I need to take in to consideration also.
since you are in this with your GF in a way, i suggest also looking at your car purchase history. if you tend to sell every 8-ish years, try to have the year of the cars roughly 4 years apart. this way you limit the risk of having 2 cars down the line with major issues..... or worse, having to buy two cars (and having 2 car payments) at the same time
Craig Mac
BoM 4/10 7/11 12/14
That is sort of the plan, she gets my car with 70k miles, which is in good shape (ie: reliable) and I get a new car. She and I will be living together with her daughter and the idea was to have my car paid off in 5 years or less and then have the option if needed for her to get a new/used vehicle after that while I still have 5 years left in mine.
My last couple of vehicles have been used. I'm the type that I'm very anal about my stuff (yeah, yeah, insert jokes here 
Anyway, my last several vehicles were all well over 200k when I got rid of them, as I'm meticulous about maintenance. I just bought a used small SUV from Carmax after much research. Low mileage, great shape and even had it inspected by my mechanic and they verified it was not abused. There are so many choices out there and you want your money to go as far as possible. I've been able to find what I wanted in the used market, save money and drive them for years. Just my .02. Good Luck to you!
Anyway, my last several vehicles were all well over 200k when I got rid of them, as I'm meticulous about maintenance. I just bought a used small SUV from Carmax after much research. Low mileage, great shape and even had it inspected by my mechanic and they verified it was not abused. There are so many choices out there and you want your money to go as far as possible. I've been able to find what I wanted in the used market, save money and drive them for years. Just my .02. Good Luck to you!