Why do people buy a new car?

[apoppin]

Originally posted by: waggy

Originally posted by: apoppin
You just gotta look for a Hot deal . . . letsee if you think buying a brand new car was right for me . . .

I bought a brand new 2002 Kia Rio for $5988 (that's less than 6 Grand, no trade in, I paid cash) . . . It'll be 2 years old in September and currently has 32,000 miles on it . . .

That's 32K trouble-free miles with normal maintanance costs (I do ALL my own scheduled service) and I have 68,000 miles left on the warranty . . . at 35MPG . . . 🙂

As for a "poor investment" - RIGHT NOW - If I put it up for sale, I can get at least what I paid for it.



AND this is the SECOND time I have done this with a brand new car . . . I drove my last brand new car for 2 years and MADE TWO THOUSAND DOLLARS when I sold it (over original purchase price and payments).

There ARE exceptions. 😛

actually you wont get what you paid for it.

KBB has it at $4k for trade in value and $5k for private sale (Might get that.

Though then you have to add in what the trade in was worth. either way you are not getting out ahead on that kia.

huh?

The average price a 2002 Rio is selling for in SoCal IS $6,000 for a private party ad . . . exactly what I paid for it after driving it for nearly 2 years and 30K miles.

AND if I "only" get $5k for it . . . $1000 for 32,000 miles of trouble-free driving is pretty cheap . . . I'd say "WAY ahead" and you need to work on your math skills . . . BTW, I gave NO trade in when I bought my Kia. 😛

 

[Ylen13]

Originally posted by: Paulson
We have 3 used vehicles...

a buick park avenue 1988 model (electronic everything)... 218,890 miles on her, it's my dad's vehicle. - $1000 (bought it with 208,000 miles on it back in october)

a dodge intrepid 1994 model (leather interior) 186,857 miles on her, it's my mom's - $3250 (bought it with 171,000 miles about a year ago)

a chevy blazer 1996 model (LT model) 132,860 miles on her, it's mine - $3200 (traded it in for my chevy truck with 152,000 miles on her, it had 131,850 miles when i got it)

The intrepid has never had anything done to it, no repairs. The buick had a cv joint go out, but that was it

the blazer has a few minor things that have to be fixed, but it's a nice vehicle.

3 vehicles, no monthly payment, and being able to put that into savings = why my family doesn't have a new vehicle.

also, people don't take care of stuff, they'll hit your doors, give you dings, all sorts of stuff like that. So why have a new vehicle?

I would be scared to drive any of those vehicle primary because of the mileage. On of our cars right now only has 100,000 mileage and no problem with engine or transmission and we are thinking of selling because we don't want to take a chances of it breaking down and requiring a big repair.

 

[Analog]

buying a new car makes no financial sense. it is purely emotional.

 

[Banana]

Originally posted by: yellowfiero
buying a new car makes no financial sense. it is purely emotional.

Plus: It's kind of hard finding a new Fiero.
😎

 

[waggy]

Originally posted by: apoppin

Originally posted by: waggy

Originally posted by: apoppin
You just gotta look for a Hot deal . . . letsee if you think buying a brand new car was right for me . . .

I bought a brand new 2002 Kia Rio for $5988 (that's less than 6 Grand, no trade in, I paid cash) . . . It'll be 2 years old in September and currently has 32,000 miles on it . . .

That's 32K trouble-free miles with normal maintanance costs (I do ALL my own scheduled service) and I have 68,000 miles left on the warranty . . . at 35MPG . . . 🙂

As for a "poor investment" - RIGHT NOW - If I put it up for sale, I can get at least what I paid for it.



AND this is the SECOND time I have done this with a brand new car . . . I drove my last brand new car for 2 years and MADE TWO THOUSAND DOLLARS when I sold it (over original purchase price and payments).

There ARE exceptions. 😛

actually you wont get what you paid for it.

KBB has it at $4k for trade in value and $5k for private sale (Might get that.

Though then you have to add in what the trade in was worth. either way you are not getting out ahead on that kia.

huh?

The average price a 2002 Rio is selling for in SoCal IS $6,000 for a private party ad . . . exactly what I paid for it after driving it for nearly 2 years and 30K miles.

AND if I "only" get $5k for it . . . $1000 for 32,000 miles of trouble-free driving is pretty cheap . . . I'd say "WAY ahead" and you need to work on your math skills . . . BTW, I gave NO trade in when I bought my Kia. 😛

again i doubt you got the car for 6k new when they are going that for used. Unless you own/or know the owner of the dealership. you may be good at dealing but not so good that they will let it go for that.

if it is going for 6k used then i would think it is going for the invoice price and in demand.

but i do agree if you can sale it for 6k even after paying 10k for it 2 years ago thats not bad.

 

[her209]

Why do you buy a new computer?

Why do you buy a new tv?

Why do you buy new underwear?

Answer those questions and you will have your answer.

 

[Demon-Xanth]

For me, I paid $20,000 because my last car was looking like it was nearing the end of it's useful life (over 250,000 miles) and was going to cost more in maintenance than car payments. I do 18,000 miles/year, and I plan on keeping my current one for atleast 8 years (until around 2010). I need a car to get to work and back. It was either replacement cost or maintenance cost.

 

[human2k]

Cuz they need a new more reliable ride.

 

[Brutuskend]

Why do people buy a new car?

Otherwise the terrorists WIN!!

 

[Pliablemoose]

I'll wade in here, I've bought 6 new cars & 5 new motorcycles...

I usually go through my Credit Union & pay off the note 1/3 earlier then the financed term, minimum...

Wife's car has 6 airbags & gets 40 mpg, & it's difficult to find a used TDI 4 door Golf with an automatic.

My pickup was $12.8K out the door this month, & it's hard as hell to find a truck that hasn't been abused.

They're both reliable & they're both loss leaders (the bait they use to lure you into the dealership & then upsell you for a more expensive model)

Just donated my Maxima to charity ~200K miles, both CV joints going out, exhaust needed replaced, interior was trashed by myself & the family. And it didn't have airbags.

by buying new, I support the dealerships, manufacturer, etc, & stimulate the economy,

I also save $ & wife & I both fully fund our retirement plans (although I just can't bear to look @ the statements lately🙁)

I do freak out when friends buy a $30K+ car & finance it, they typically don't fund or don't fully fund their retirement, wife & I look @ them from our cheap cars & talk about them driving their depreciating retirement $...

I've also been burned on a used car purchase, to the tune of 1 Ford Ranger that was just used up & had electrical problems from day one, and 1 Civic that had a bad engine. (this was years ago BTW, I'm more selective now).

 

[spidey07]

I buy new because I like the way new cars feel...tight and solid.

After about 2 years they don't feel tight and solid anymore.

 

[hasenpfeffer]

Why do you buy a new computer?

Why do you buy a new tv?

Why do you buy new underwear?

Answer those questions and you will have your answer.

Well there is a lot of difference in the cost between a pair of Fruit of the Looms and a $20, 000+ new ride.

And as far as maintenance issues go, I doubt very seriously that you will spend 400-500 bucks a month keeping a car maintained. That argument doesn't make any sense at all.

I buy new because I like the way new cars feel...tight and solid.

After about 2 years they don't feel tight and solid anymore.

So what you're saying is that you'll spend 4-5K every two years just to ride in a car that feels tight?


Look some people can afford to buy new vehicles, but realistically most people can't. All Im saying is that some people are spending a lot of money they could be using for more important things in life. And I promise that if you take your time, you can find a 1-2 year old car with low mileage thats just as reliable as a brand new ride. And, you'll probably save yourself 5,000 to boot.

 

[waggy]

***Why do you buy a new computer?***

I dont buy new computers. i build my own. why? its cheaper and you dont need to buy new cars to drive on new roads.

***Why do you buy a new tv?***

I have only bought ONE new TV. the last one i got was a handme down that was 20 years old. get me acar that last 20years without any work and i will be all over it.

***Why do you buy new underwear?****

well undies cost me $6 for 3 Pairs. Far cry from a ~$20k car. gotta love those boxer briefs.

***Answer those questions and you will have your answer.***

Ok i answered them. but didnt answere the question of why to buy a new car.

 

[bozack]

Originally posted by: MoonbeamI would die for a vanagon. Actually I want the Eurovan Winebago. 😀 The bug you can keep. I drive a Cad because the other car I usually drove to Sacramento was killing my sciatic nerve from back to leg. The prestige is nice, but anything with me in it has prestige. 😉

Yeah I had a friend who really wanted a vanagon, they have a new style one that seems pretty slick but I am not really into the van thing...I have not seen the Eurovan you speak of but feature and comfort wise those things can be sweet.

I am just surprised that you can deal with the bling bling image of a caddy, just seems to be the complete opposite of what I would expect 🙂..personally I think they are ok, but the new CTS they have with the drop top is really nice.

 

[mattgyver]

It's kind of fun driving an old car. It's almost like you're a reliability tester--you get to see exactly how far you can use something until it breaks 😀 Plus you always have a back-up excuse if you're late for work or something: "My POS wouldn't start this morning--had to jump it off, fill the radiator, etc..." I currently drive a 1996 Ford Taurus that has almost 190,000 miles. I know that car inside and out--every little sound, how far past the red line before it's REALLY out of gas. I also have a 1994 Chevrolet Pickup (4x4) that has about 250,000 miles. I keep them maintained, and they don't give me any trouble.

 

[spidey07]

So what you're saying is that you'll spend 4-5K every two years just to ride in a car that feels tight?

yes. But its a little more than that - between 6-8K every year per vehicle. And I feel it is worth it, I just don't like driving sloppy cars.

But that's just MHO of course.

 

[vi edit]

Well, I already have my home, put away ~20% of income for mid & long term savings, and have zero credit card debt, so I have a extra money to play with. I don't go out to eat very often, I don't buy expensive clothing, I don't upgrade my computer every six months, and I don't blow my cash on stupid little frivoulous crap so I choose to place my money in a nice car every couple years.

 

[her209]

Originally posted by: waggy
***Why do you buy a new computer?***

I dont buy new computers. i build my own. why? its cheaper and you dont need to buy new cars to drive on new roads.

***Why do you buy a new tv?***

I have only bought ONE new TV. the last one i got was a handme down that was 20 years old. get me acar that last 20years without any work and i will be all over it.

***Why do you buy new underwear?****

well undies cost me $6 for 3 Pairs. Far cry from a ~$20k car. gotta love those boxer briefs.

***Answer those questions and you will have your answer.***

Ok i answered them. but didnt answere the question of why to buy a new car.

Because people want to say that they are the original owners.

 

[Moonbeam]

I am just surprised that you can deal with the bling bling image of a caddy, just seems to be the complete opposite of what I would expect ..personally I think they are ok, but the new CTS they have with the drop top is really nice.
---------------------
I'm used to confusing people. 😀

 

[Spac3d]

Because I refuse to have somebody else's old car. I want it from the factory and perfect.

 

[Fritzo]

I like the feeling that when I get in the car, it'll start every time, that I don't have to worry about fixing anything, that the only person that drove it or did anything to it is me, and and 0% financing for 5 years, my payments are around $350 for a $24000 car.

 

[Gujski]

After my truck I vowed never to buy used again then my mum decided to sell her garage kept 1990 Acura Integra with 28k on it. Air, auto, power. She gave it to me for 6 2 years ago and i paid it off last year. Its got 40 k on it now but I know it will last me a good 5 more years.

 

[apoppin]

Originally posted by: waggy

Originally posted by: apoppin

Originally posted by: waggy

Originally posted by: apoppin
You just gotta look for a Hot deal . . . letsee if you think buying a brand new car was right for me . . .

I bought a brand new 2002 Kia Rio for $5988 (that's less than 6 Grand, no trade in, I paid cash) . . . It'll be 2 years old in September and currently has 32,000 miles on it . . .

That's 32K trouble-free miles with normal maintanance costs (I do ALL my own scheduled service) and I have 68,000 miles left on the warranty . . . at 35MPG . . . 🙂

As for a "poor investment" - RIGHT NOW - If I put it up for sale, I can get at least what I paid for it.



AND this is the SECOND time I have done this with a brand new car . . . I drove my last brand new car for 2 years and MADE TWO THOUSAND DOLLARS when I sold it (over original purchase price and payments).

There ARE exceptions. 😛

actually you wont get what you paid for it.

KBB has it at $4k for trade in value and $5k for private sale (Might get that.

Though then you have to add in what the trade in was worth. either way you are not getting out ahead on that kia.

huh?

The average price a 2002 Rio is selling for in SoCal IS $6,000 for a private party ad . . . exactly what I paid for it after driving it for nearly 2 years and 30K miles.

AND if I "only" get $5k for it . . . $1000 for 32,000 miles of trouble-free driving is pretty cheap . . . I'd say "WAY ahead" and you need to work on your math skills . . . BTW, I gave NO trade in when I bought my Kia. 😛

again i doubt you got the car for 6k new when they are going that for used. Unless you own/or know the owner of the dealership. you may be good at dealing but not so good that they will let it go for that.

if it is going for 6k used then i would think it is going for the invoice price and in demand.

but i do agree if you can sale it for 6k even after paying 10k for it 2 years ago thats not bad.

I paid cash - $5988 - the "ad car at the ad price" for it BRAND NEW and with no trade-in. I did get a remote alarm included from the dealer at that price and the 4 stereo speakers were not taken out (I took them out to put in a Polk Separates/Sub, Alpine amp and Pioneer CD with the money I "saved"). And you DO need to negotiate (very) "well" to get the ad car for the ad price ("only ONE car at this price"). 😉

This was the subject of my Hot Deal thread 2 years ago (September 2001).

 

[Ornery]

Originally posted by: dquan97

Originally posted by: mpitts
Some people would ask the same question about a new computer.

With a new car comes peace of mind. You don't need to worry about who the previous owner was and you also have a factory warranty, which is generally longer than that of a used car.

Oh this is clever. Compare a $500.00 purchase to a $25,000.00 one.

The second largest purchase of your life will be a depreciating piece of transportation. This purchase impacts the single largest purchase of your life. It's hard to qualify for a mortgage or come up with a 20% down payment when you're stuck with a couple massive car payments. Priorities I guess...

There's also the matter of "needing" two incomes to pay for this massive vain expense. Kids end up being dumped on relatives or stuck in day care because of the "need" for two parents to work. But I'm sure having new cars is worth it...

 

[apoppin]

Originally posted by: Ornery

Originally posted by: dquan97

Originally posted by: mpitts
Some people would ask the same question about a new computer.

With a new car comes peace of mind. You don't need to worry about who the previous owner was and you also have a factory warranty, which is generally longer than that of a used car.

But I'm sure having new cars is worth it...

Is sure is. REread my post above your to see "why" . . . at least for me. 😛