Car Advice: New or Used?

[NetCadet]

Hi Guys,

In my quest to find the perfect vehicle, I was wondering what you guys think about buying a new or used vehicle?

How I see it...New Vehicles depreciate so fast that it makes them one of the worst investments a person can make in their lifetime....at the same time, in buying a used vehicle, you are also buying someone else's problems.

What do you guys think? Is the money you save going used (or a lease buyback, for instance) worth the risk/headache?

Get a Nissan.

AnandTech Moderator

 

[CraigRT]

<< How I see it...New Vehicles depreciate so fast that it makes them one of the worst investments a person can make in their lifetime >>



I half agree with that...

If you plan on having the car for a long time though it should be OK.

I like buying cars new.. I like warranty and knowing i will have little if any problems at all in the first while of owning the car.. it IS expensive but it has benefits.

I would only buy used if my budget was alot less. like half of what I can afford to spend.

 

[Poontos]

1.) If you can afford new, get new.

2.) If you cannot afford big repair bills, but can afford a consistant monthly payment with everything covered under warranty, get new.

3.) If you think it is a waste of money to buy new, with depreciation and all, then you should get used.

4.) Used compared new, really depends on the used the car you are looking at. Without being present with the exact model, history, current condition, etc. of a used car, it's impossible to generalize.

Did I mention that most companies are offering 0% interest financing these days?


Good luck!

 

[pulse8]

<< Get a Nissan. >>



HAHAHAHAHAH!

 

[StageLeft]

In new you get a warranty and in a used you don't get big depreciation. Probably the best thing to do so that you don't get somebody elses problems is buy a year-old car so that much of the initial depreciation has already kicked in.

This is what I'd be doing now but then you have the issue of financing - if you want a decent financing setup new is usually the best way to do it.

 

[khtm]

I just found myself a sweet addition to my sig!

 

[Migroo]

My opinion:

There is no point getting new. If you plan on buying an unreliable car, then you may aswell buy a new one though - its hardly sensible buying a car that breaks now is it?

I'll buy a used Japanese car without fail. If you do a proper inspection and dont find any major problems, then the chances are that there are none! On my Dad's Toyota Estima Lucida, he still has the original exhaust, and the car is nearly 10 years old. Mileage is about 100,000 miles.

Compare that to the Fords generally available. My grandfather's Fiesta needs a new exhaust every 5 years if its a stainless, or 2 -> 3 if its a mild steel version...

 

[vi edit]

I don't know if I would ever buy a used Honda or Toyota, or any car with an outrageously high resale value for that matter. Why pay $16,000 for a 2 year old car when I can get a brand new one with full warranty, and new features for $3,000 more?

But, with a domestic, or any other car with a poor resale value, buying used can be a huge bargain. Most chevy's and fords loose half their value in two years. If you've only got 10k to 15k to spend, that's probably your best route.

I also don't think I'd ever buy brand new if I knew that I was going to be really racking up the miles on the car. You'll outrun your warranty way prematurely and you'll be stuck with a with a car worth way less than it should be.

But always weigh the financing options. With all the 0% and .9% interest deals laying around, you just might come out ahead.

 

[DuffmanOhYeah]

<< Get a Nissan. >>



LMAO!!! The MOD says you have to

It is so ordered. Remanded to the thread creator to decide in a manner consistent with the findings of the Moderator.

Well it WOULD be funny of you were a law student.

 

[Grinchy]

You'll can buy more car with less if you look around at used. I got a 11 year old rx-7 convertible, with 57000 miles for $4500. The sticker was still in the car - $28000. Leather, every possible option, etc. But I waited for about 6 weeks while I looked and drove lots of cars. My budget was $10000, so now, even after the $2000 cost to replace the rotary engine when it fails (at 80-100 k), I'm $3000 ahead and get a fully loaded sports car to toy with.

With $10000 in the new or nearly new market I was looking at a high miles Civic, Neons, Kias, Hyundais, or 3 year old Ford Contours, you get the idea. Cars that go from a to b, but no panache.

Just factor in your own 'warranty' if you're worried about repairs, and do the scheduled maintenance. I budget $50/month for repairs, so if I pay $500-$600 a year for 'breakdowns' then everything is fine. Over say 3 yrs, that costs about $1500, so I'm still ahead of whatever warranty I'd get nearly new, including a new engine (if I need it), and still have a sports car.

Oh. Sweet ride. I'd recommend it. Too bad no turbo convertibles made the states. Of course, for $1500 I could supercharge...

 

[ultravox]

Used.

You can get a super high-zoot used (2-3 yrs) for less than the price of a new econobox. Why should you pay for the depreciation ? Don't be in a hurry and take your time. You can sometimes find a low milege car still on warranty for 12-15 less than new. Don't buy an econobox used though..look for a car that's expensive and quality built. Chances are some rich dude bough it new and had it properly maintained. Look around,,,,notice how many old mercedes/audis/bmw are still on the road and in great shape.You don't see too many Fiestas or chevettes that are 10 yrs old unless they're real POS.

 

[thedarkwolf]

The best value is to buy $1000 or less mechanically sound car and drive it into the ground or just till you get tired of it and buy another one. Thats what I normally do but I did break down and buy a decent $3000 truck last time. Now I just wish I bought another beater. The truck is nice and all but it really doesn't do anything better than my other cars did except make me atleast $2kpoorer.

btw who cares if you have to replace an exhuast system every 5 years rather than 10. I wouldn't pay much more than $100 bucks for basic single exhuast system. I think I could swing that every 2-5 years.

 

[OpalFrost98GT]

I usually try to get something 1-3 yrs used.....the closer to 3 the better the price.

 

[mithrandir2001]

<< Get a Nissan.

AnandTech Moderator >>


LOL. Now the mods are into this Nissan thang.

Let me ask you this, NetCadet, what's your income situation? Let's see what you can afford first because maybe a used car is all you can pull off. Me? I LOVE new cars. Nothing like Delivery Day!

 

[Mr.IncrediblyBored]

<< The best value is to buy $1000 or less mechanically sound car and drive it into the ground >>


The odds of you finding a $1000 car thats "mechanically sound" is about a million to one. What happens when the brakes/calipers/rotors go? $300 right there. What about the fuel pump or cv boots or power windows or a/c unit. See my point?

You may pay a grand, but little things can and will break. You may end up paying an additional grand during the course of the first year just to cover the minor odds and ends that go bad.

 

[BigSmooth]

Considering the relative reliability of most cars these days, used cars are by far a better bargain than new cars. Depreciation is such a massive "expense" with a new car that usually no warranty or even 0% financing can make up for it. Why? Because if Chrysler offers 0.9% financing and $1000 cash back on all 2002 Sebrings right now, a lot of people buy them. What happens in a few years when someone wants a used 2002 Sebring? The used car market is flooded with them and they are worth even less than you would expect. So even in that case depreciation hits you pretty good.

Just do this: decide on a new car you want and see what the invoice price would be. Then browse around Edmunds and see what kind of 1 or 2 year old car you could get with that same amount of money. It can be really eye-opening.

 

[thedarkwolf]

The odds of you finding a $1000 car thats "mechanically sound" is about a million to one. What happens when the brakes/calipers/rotors go? $300 right there. What about the fuel pump or cv boots or power windows or a/c unit. See my point?


Well I guess I am Mr. Lucky since I have had 3 out of 4 be decent cars. You do know when your driving a beater you don't have to fix everthing right

81 dodge mirida /6 $600
Had it a year total cost of owner ship
$15 master cylinder
$40 windshield wiper transmissions
sold because I wrecked it for $300

85 plymouth duster 2.2l $1000
Had it about a year and a half
total cost of ownership
$15 master cylinder
$30 ish tune up
could have used a carb rebuild for $30 but I never got around to it
Sold becuase I wanted something else for $700
This one was actually a pretty nice looking and driving car. Kinda wish now that I had kept it.

81 plmouth horizan 1.7l vw power carb was shot so I got it free
Had it a year
It cost about $300 including 4 new tires to get it back on the road
Sold it because it was even a little too crappy for me for $300

The only one I have put any real money into is my 67 galaxie but then its a classic and I want to fix it up.

btw I understand most poeple don't like driving around in beat up old cars

 

[Jfur]

I prefer used cars. Why pay all that money -- if you have a good mechanic check it out and maintain it, there should not be a problem. The most I have paid for a car is $3000. I typically buy one every 3 years or so, so that costs around $300-$1000/yr depending on the cost of the car.

edit: I have bought 4 used cars and ALL were in excellent condition -- the largest repair I've had is brakes. Never had one break down; just things like exploding tires

cost -- $800, $1400, $2300, $3000

 

[thedarkwolf]

It also helps if you can fix stuff yourself.

btw I have never broke down unless you include running out of gas. Gas gagues are one of those thing that are expendable on beaters .