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New car or used car? What's Smarter?

V

ViciouS

Golden Member
My brother is in the market for a new car. He has wants to spend 17-28 grand. He was looking at NASTY Brand new ACCORDS! I'm like why waste your money on a car that?s going to loose 3,000 in value as soon as you drive it off the lot. On top of that a brand new accord is fugly as hell compared to a 2003+ BMW/Lexus/Caddy/Acura with low miles.

Bottom line, what?s smarter? Drive a card board box looking car like an accord or drive something luxurious for the same price.

What depreciates faster?

I have a few questions, that you guys might be able to help with. can you get a car loan for a car from a private seller? Last of all is it better going to a Private dealer or a Dealership? Can you get the same deals, or better from one of them?

OVERALL What is the smarter investment *edit Purchase (Sheesh)?
 
Definitely something luxurious for the same price.

Not exactly a luxury vs whatever example, but my brother's in the market for a new G35 coupe, but I'm begging him to keep his 96 Maxima SE. Why get a G35 (that looks like every other G35 out there) when you have a nicely done up Maxima, with sufficient power 🙂
 
You can get a car loan from a bank for purchase from a private individual. Sometimes they charge a higher interest rate though. I use capital one for all my used cars.


Does he need a warranty? If he buys a BMW can he afford to fix it if it breaks. Can he afford to drive a car that gets 15 mpg. How much is insurance going to cost for a BMW vs. an Accord. Lots of questions.
 
He is looking for warranty, and he is WATCHING! I'm a freakin nutt with money, so he doesnt believe sh1t i have to say bout "investing", but i know im right.
 
well, a car is NOT an investment. it is the worst way to spend that amount of money, but most of us need cars to get around. most any car is going to depreciate, and you shouldn't base how you buy your car on the resale. i personally drive my cars until I am completely done with them. I will keep the current car I have and turn it into a project car once I feel I have gotten all I can out of it.

edit: fixed confusion.
 
Originally posted by: rmrf
well, a car is NOT an investment. it is the worst way to spend that amount of money, but most of us need cars to get around. any car is going to appreciate, and you shouldn't base how you buy your car on the resale. i personally drive my cars until I am completely done with them. I will keep the current car I have and turn it into a project car once I feel I have gotten all I can out of it.
Click to expand...

Your investing a large amount of money trying to get the best bang for you buck, and eventualy a good trade in price when your done with it.

 
Originally posted by: rmrf
well, a car is NOT an investment. it is the worst way to spend that amount of money, but most of us need cars to get around. any car is going to appreciate, and you shouldn't base how you buy your car on the resale. i personally drive my cars until I am completely done with them. I will keep the current car I have and turn it into a project car once I feel I have gotten all I can out of it.
Click to expand...

don't you mean "depreciate"?
 
Originally posted by: ViciouS
Originally posted by: rmrf
well, a car is NOT an investment. it is the worst way to spend that amount of money, but most of us need cars to get around. any car is going to appreciate, and you shouldn't base how you buy your car on the resale. i personally drive my cars until I am completely done with them. I will keep the current car I have and turn it into a project car once I feel I have gotten all I can out of it.
Click to expand...

Your investing a large amount of money trying to get the best bang for you buck, and eventualy a good trade in price when your done with it.
Click to expand...

http://en.wikipedia.org/wiki/Investment

Investment is a term with several closely related meanings in finance and economics. It refers to the accumulation of some kind of asset in hopes of getting a future return from it.
 
Originally posted by: kt
Originally posted by: rmrf
well, a car is NOT an investment. it is the worst way to spend that amount of money, but most of us need cars to get around. any car is going to appreciate, and you shouldn't base how you buy your car on the resale. i personally drive my cars until I am completely done with them. I will keep the current car I have and turn it into a project car once I feel I have gotten all I can out of it.
Click to expand...

don't you mean "depreciate"?
Click to expand...

hrm, I must have been speaking the engrish there. yes, depreciate will do fine. 🙂
 
If you know what you're doing and how to do it, you can buy a new car for the same price as a used car, but not everyone is good at it and there are tricks involved, and it's not something you can walk into overnight.
 
A CAR IS NOT AN INVESTMENT

If you're worried about resale value when you buy the car, your entire thinking about car ownership is completley flawed
 
Originally posted by: acemcmac
A CAR IS NOT AN INVESTMENT

If you're worried about resale value when you buy the car, your entire thinking about car ownership is completley flawed
Click to expand...

thank you, I was starting to feel alone...
 
a used car is always smarter, though when dealing with hondas and toyotas, the depreciation is so small that you're almost better off with the new one.
 
Originally posted by: thomsbrain
a used car is always smarter, though when dealing with hondas and toyotas, the depreciation is so small that you're almost better off with the new one.
Click to expand...

Actually, with research and the ability to speak, it's not. It's never smarter. But I've already tried to help people many times on here and they've ignored my advice so everyone can go on thinking that used is the best way to go.
 
Originally posted by: aplefka
Originally posted by: thomsbrain
a used car is always smarter, though when dealing with hondas and toyotas, the depreciation is so small that you're almost better off with the new one.
Click to expand...

Actually, with research and the ability to speak, it's not. It's never smarter. But I've already tried to help people many times on here and they've ignored my advice so everyone can go on thinking that used is the best way to go.
Click to expand...

yes, there are a lot of dusty search buttons out there. I can't count how many threads exactly like this there have been.
 
Originally posted by: rmrf
Originally posted by: aplefka
Originally posted by: thomsbrain
a used car is always smarter, though when dealing with hondas and toyotas, the depreciation is so small that you're almost better off with the new one.
Click to expand...

Actually, with research and the ability to speak, it's not. It's never smarter. But I've already tried to help people many times on here and they've ignored my advice so everyone can go on thinking that used is the best way to go.
Click to expand...

yes, there are a lot of dusty search buttons out there. I can't count how many threads exactly like this there have been.
Click to expand...

But any with such a fancy shmancy poll?
 
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