(Closed) Should I get a used or new car?

posted 5 years ago in The Lounge
Post # 3
166 posts
Blushing bee

I recommend finding a good used car a couple of years of age.  You lose so much money on a new car the minute you drive it off the lot.  I will never buy another new car as I feel that is wasting money.  It’s all a matter of preference I suppose. 

Post # 4
1348 posts
Bumble bee

Used- certified if you want a warranty. New cars lose way too much value within a few months. I’ve found that cars 2-3 years old are usually found at great prices compared to new cars-1 year old cars.

Post # 5
5118 posts
Bee Keeper
  • Wedding: November 1999

I agree with PPs. A car that’s 2-4 years old with under 40K or so miles is a far better deal than buying new. Vehicles lose roughly 60% of their value in the first 4 years, let someone else take that loss.

Post # 6
3572 posts
Sugar bee
  • Wedding: June 2011

i’m going to echo the PPs and say go with a gently used car that’s a few years old. New cars lose so much value the second you drive them off the lot that it’s not really worth it, at least IMO. I would try to find something with less than 20,000 miles on it, especially if you’ll drive a lot. 

With the cost of gas, I personally wouldn’t buy an SUV either, but it totally depends on what type of work your Darling Husband does, how long you plan to keep the car, whether your tow something like a boat regularly, and how much space you really need. 

Congrats on the marriage btw, welcome to the other side!

Post # 7
1659 posts
Bumble bee
  • Wedding: July 2012

So I never thought I would support leasing, but I do now.  I’m leasing my car, and when the lease is up in August, I’ll lease another VW or buy my car outright.  I don’t drive enough to come close to the mileage restrictions, and you really can’t beat free maintenance.  

That being said, I bought a nearly-new car (70 miles) when I was 22 and I regret it.  BIL sells cars, and he was able to convince his mgr to trade in my car for exactly what I owed on it but I don’t think I would have been able to sell it as easily.  When I’m ready to buy again it’ll be something that I buy in cash and I’m going to keep long term.

For an SUV, defintely buy used.  They lose soooo much value, unless it’s like a hybrid Tahoe or something but even then they’re money pits.

Post # 8
699 posts
Busy bee
  • Wedding: November 1999

@nineteen87:  +1 used certified is the way to go.

don’t buy new, its fun to have the new car smell but its a waste. you seriously lose thousand the second its off the show room floor. get a car that was leased previously for a year or 2. try to aim around or under 20K mark. its like having a 1-2 year old car.

Post # 9
1318 posts
Bumble bee
  • Wedding: October 2012

Used all the way. Let someone else pay for the paint.

I bought an awesome PT Cruiser with leather seats, premium sound, butt warmers, and a sun roof for $6000… the person who bought the car spent closer to $30,000!!! It’s almost flawless and only had 45,000 miles on it when I bought it. 

Post # 10
1734 posts
Bumble bee
  • Wedding: June 2012

Used, used, used. Make sure you get the CarFax, and don’t be pushed around when it comes time to make a decision. The only time I would ever consider buying a new car would be if they came out with some gloriously new technology that made the car better/safer/cheaper/more environmentally friendly…and even then I’d probably wait a year or two for some nice generous person to pay the new car premium on it. 🙂

Post # 11
7561 posts
Bumble Beekeeper
  • Wedding: January 2013

@WhiteWedding:  I like how you called them butt warmers. That’s all Laughing

Post # 12
5011 posts
Bee Keeper
  • Wedding: April 2012

One option, if you can find one, is used but almost new. I’m not sure if it happens in the States but often here you can find cars that have been used as test cars or staff cars for a dealership which tend to be less than a year old with only a few thousand miles on the clock (or sometimes much less than that).

That gives you most of the benefits of new (new car smell, warranty, very limited damage) with the price drop of used.

Post # 14
1730 posts
Bumble bee
  • Wedding: June 2014

So…I’ve always been in the buy pre-owned camp…until I bought my first new car ever.

While I think it’s almost always a better financial decision to buy a car that is a couple of years old, I think there are exceptions. If the car has excellent resale value and/or you plan to keep the car for several years, I think buying new isn’t a big of a financial hit. For instance, you mentioned you had a Honda. I believe Honda’s have great resale value so buying pre-owned might cost nearly as much as buying new. This was also the case with my Scion xB – I shopped for a pre-owned Scion and many dealerships were charging almost the same or sometimes slightly more than I could buy the current model year. There’s also a certain peace of mind that comes with buying a new car and knowing you have the full warranty in place for the next few years. 

Post # 15
327 posts
Helper bee

depends on what type of cars you are looking at, but i would recommend used car. in australia, it is better to get a used car than a new one, as there are lots of choices to choose from and if you know what you are doing, you will find a good one

Post # 17
4954 posts
Honey bee
  • Wedding: July 2012

I have a question – I’m looking to buy a pre-owned car from a dealership. While I’ve owned both new and used vehicles, I’ve never bought a used from a dealership and am wondering how the negotiating is – I’m finding it much more difficult to find the invoice/wholesale price for a used car online, which would make negotiating much more difficult. Any thoughts? Also, I know that generally interest rates for used cars are higher than on new. I’ve got a very very good credit rating, so I’m wondering where the best place would be to look for a used auto loan (I’d rather go in with financing in hand instead of relying on the dealership. When I bought my new vehicle, I already had financing – which worked to my benefit because the dealership’s financing wasn’t as good of an interest rate).

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