Parents buying a new Camry

[Jassi]

Oh well, he is off to the dealer soon. Thanks a lot guys, I hope he is making the right decision. Apparently, the dealership is giving him a discount on the invoice price, which makes it a hot deal for him.

 

[dullard]

Lets do the math. People here always assume, and it really makes them look stupid.

All data from nadaguides.com, averge retail price, with default features and an assumed 12,000 miles per year.

2005 Camry LE: $19,300 list (probably $18,000 by the time negotiations are done).
2003 Camry LE: $17,000
2000 Camry LE: $11,050
1998 Camry LE: $7,825.

So if you use the new car for 5 years, a new car loses ($19,300 - $11,050) = $8,250 in depreciation. Less if you get a discount.

If you get the 2003 and use it for 5 years, you lose ($17,000 - $7,825) = $9,175 in depreciation. Notice how it is worse to get the 2003! Of course this assumes depreciation is relatively constant among these models, but it is a good estimate. It is the fact that the 2003 Camry really doesn't cost much less than the 2005. Depreciation on the Toyota cars doesn't really set in during the first 3 years.

Plus going new you get a full warranty, the new car feel, and the knowledge of exactly what the car has/has not done.

 

[marstaton]

I got my 04 camry for 16850 out the door in june of 04. Parents just got an 05 camry le for 17000 out the door before the new year. I think they can do way better than 19.

 

[kyparrish]

Originally posted by: dullard
Lets do the math. People here always assume, and it really makes them look stupid.

All data from nadaguides.com, averge retail price, with default features and an assumed 12,000 miles per year.

2005 Camry LE: $19,300 list (probably $18,000 by the time negotiations are done).
2003 Camry LE: $17,000
2000 Camry LE: $11,050
1998 Camry LE: $7,825.

So if you use the new car for 5 years, a new car loses ($19,300 - $11,050) = $8,250 in depreciation. Less if you get a discount.

If you get the 2003 and use it for 5 years, you lose ($17,000 - $7,825) = $9,175 in depreciation. Notice how it is worse to get the 2003! Of course this assumes depreciation is relatively constant among these models, but it is a good estimate. It is the fact that the 2003 Camry really doesn't cost much less than the 2005. Depreciation on the Toyota cars doesn't really set in during the first 3 years.

Plus going new you get a full warranty, the new car feel, and the knowledge of exactly what the car has/has not done.

:thumbsup:

 

[Jassi]

Originally posted by: marstaton
I got my 04 camry for 16850 out the door in june of 04. Parents just got an 05 camry le for 17000 out the door before the new year. I think they can do way better than 19.

That included all the taxes and extra surcharges? The 19.3k is everything. Also, which state was this in?

 

[StageLeft]

Used is normally the way to go but toyota and honda have retardedly high resale, so if it's only one or two years I'd consider just buying new. I'd never buy a used honda. I'm not sure if toyota has as fanciful a resale as honda.

 

[Baked]

Meh, it's his money.

 

[thomsbrain]

that's not the worst price in the world, considering that's the out-the-door price. the 4-banger camry will be pretty slow, but it doesn't sound like he'll mind. the car will hold it's value pretty well. something tells me you just don't want to have to borrow a camry. 😉

 

[Ornery]

Originally posted by: vi_edit
Honestly....a used camry is a bigger rip off than a new one.

If the difference is only a couple grand, I'd just go for the new. Toyota isn't like your typical domestic that loses 50% of it's value when you sign your name to the title. The don't drop much at all the first year or two of ownership.

Iagree 100% Only time I EVER considered buying new, was when I was in the market for a minivan *shudder* We decided the Odyssey was the way to go, and the used ones were almost as much as the new ones. I would have felt like a chump paying so much for a used car! Same goes for full sized pickups. They're way too expensive used, so I'd also consider a new one of those as well. Otherwise, I LOVE the depreciation of domestics!

 

[Kelemvor]

I always go new because I want to know everything that's done to my car. DOn't want to buy something and find out that someone had done something to it that I didn't know about. Also want the nice brand new warranty, knowing that it's coming to me in as perfect condition as possible, etc.

 

[marstaton]

Originally posted by: Jassi

Originally posted by: marstaton
I got my 04 camry for 16850 out the door in june of 04. Parents just got an 05 camry le for 17000 out the door before the new year. I think they can do way better than 19.

That included all the taxes and extra surcharges? The 19.3k is everything. Also, which state was this in?

That was taxes tags, everything. They were purchased in Charleston, South Carolina. I know Atlanta has them for even less than that. I would check out the newspapers of the closest big city you have and see what they have to offer. Good luck!