YACT: new car vs used

[JoPh]

my friend and i got in an arguement about buying cards.

i said when i graduate college that i am going to buy a new car. for like ~$21k
he goes on to say that buying a new car is dumb and that you should buy a used car with like 10,000 miles on it. beucase that is a better deal then a new car.

he says i wont be able to finanace a new car or soemthing.

i just said that i wouldnt buy used again becuase ive had problem with used cars and that owning a new car in itself is better.

just looking for your opinions on this subject matter

 

[iamwiz82]

Its a personal choice. Some people swear on used, others on new. New cars usually depreciate faster, but are considered to be more reliable and you will know everything about it. Used cars can have an unknown history, you will usually not get as good of a interest rate wehn financing, but will be significantly discounted pricewise.

 

[Siddhartha]

It depends on how well the car holds it's value. A new Acura RSX cost only a couple thousand more than a two year old model.

 

[Vette73]

GREATLY depends.

Like it is better right now to buy MOST gm cars new as they have cash back and ultra low % rates.
Juts like MOST jap cars it is better to get one that is a year or 2 old as the % rates are about average for MOST.


So it can go either way.

 

The new car warranty, and the simple satisfaction of owning a new car offsets (for me, at least) the increased cost of a new vehicle. Sure, it's a better deal to buy used, but I choose to splurge on things that I use each and every day, sometimes for hours at a time. For me, a new car is totally worth it.

Also, you can get EXACTLY what you want in terms of features and colors without a 6-month search or having to settle for something you don't really want.

 

[mdrollas]

I was shopping for a Honda Civic Coupe..

The used 20k mile 2001 model was only 700 cheaper than a brand new 2002 model at the time. Go figure.

 

[ryzmah]

I prefer new - getting exactly what you want, knowing the car's history, and the warranty are worth the premium in price IMO.

There are exceptions - some cars depreciate very quickly so buying a 2-3 year old car saves you a ton (Ford Taurus is an example). Another reason to not buy new is if you plan on replacing the car in a short period of time -if you think your needs might change in a few years, you would be better off with used then buying new and selling right after the depreciation hit.

 

[DurocShark]

I read an article not too long ago about this. The lady was comparing two cars she could afford: 2002 Honda Accord (new at the time) or a 1998 BMW 5 series with low miles. Both were the same price and about the same payment. She went to the blue book to compare a 5 year old Accord to a 9 year old 5 series. The BMW had kept its value and was actually worth more than the Honda.

She bought the BMW. Plus the car comes off as more of a status symbol.

 

[ElFenix]

i'd be wary (weary in ATOT parlance) of any used car with only 10,000 miles on it... why is the owner selling it so soon?

 

[Raj]

Sorry JoPh,

i gotta go with your friend on this one. the second that car hits the street.
its worth 3,000 less than what you paid for it.

save your money. buy a lightly used car.

 

[fredtam]

Your friend is right. Do your homework and get a deal on a used car.

 

[mdrollas]

Originally posted by: DurocShark
I read an article not too long ago about this. The lady was comparing two cars she could afford: 2002 Honda Accord (new at the time) or a 1998 BMW 5 series with low miles. Both were the same price and about the same payment. She went to the blue book to compare a 5 year old Accord to a 9 year old 5 series. The BMW had kept its value and was actually worth more than the Honda.

She bought the BMW. Plus the car comes off as more of a status symbol.

But a Bimmer would cost more to maintain. Doesn't it?

 

[moshquerade]

if you can swing it - go new

 

[iamwiz82]

Originally posted by: Raj
Sorry JoPh,

i gotta go with your friend on this one. the second that car hits the street.
its worth 3,000 less than what you paid for it.

save your money. buy a lightly used car.

Do not make blanket statements like that. My car, purchased in Dec., has appreciated since rolling off the lot.

 

[fredtam]

Do not make blanket statements like that. My car, purchased in Dec., has appreciated since rolling off the lot.

McLaren?

 

[z0mb13]

or the enzo...

I think it costs a cool 2 mill to get an enzo

 

[iamwiz82]

MINI Cooper

 

[WinkOsmosis]

Originally posted by: iamwiz82

Originally posted by: Raj
Sorry JoPh,

i gotta go with your friend on this one. the second that car hits the street.
its worth 3,000 less than what you paid for it.

save your money. buy a lightly used car.

Do not make blanket statements like that. My car, purchased in Dec., has appreciated since rolling off the lot.

Stop lying.

 

[TheAudit]

I prefer new but used is fine if its in good condition and has low miles.
There are cars that you would not want to buy used because their resale value is high, might as well get a new car then.

I've been lucky with my used car purchases. I haven't bought a clunker since I was a teen.