New car Vs. Used

[MsPoppy]

What do you think is better, a new car with the many warranties, and the monthly payment (in my case around $350...or a decent used car ($5,000 range...up to 12 years old) with its mileage and wear and future problems.
As a qualifier, I have had pretty good luck with used cars so far. My current one I have had for two years now, and it has needed about $500 of work to get it to pass for registration in a new state and for the repair coming up and about $200 in maintenance (oil changes, tranny fluid, antifreeze, and tire repairs). I know parts will wear, and things can get costly at any time.
I am thinking it is time to start looking at newer options, and bite the bullet with monthly payments and a car that hopefully will last for many more years with fewer wearing problems.
What are some of the pros and cons that I might not be aware of?

 

[pjbleek]

since car dealers are somewhat desperate for sales, I would go to vehix.com and see how much what you want on a car is what prices you might be offered. also look at kelly blue books...
I bought a 2004 Toyota Carolla (new) @ $316/month

 

[Joe the meek]

Unless you have the money to burn, buying used is the way to go IMO. You can spend 20k on a brand new vehicle and lose 5k on it once you drive it off the lot.

I've never owned a brand new car, and so far, no problems. Three vehicles currently have a total of about 550k miles with no horror stories. Back in 2001 I spent 12k on a used VW Golf that had 22k on it, and it finally died around 350k miles on it 2 years ago.

I try to get something in between 50k-100k on it used, and look for the best deal.

 

[Alien Allen]

I would never pay $5k for a 12 year old car unless it was worth one hell of a lot more than that.

You get caught in no mans land when it comes to major repairs and insurance won't do you much good in a major accident as they will total it for blue book value. And it does not take much damage to eat up a $5k repair on a car wreck.

IMO of course

 

[MsPoppy]

These are all good things to consider. I guess I'll have to reset my gauge, and try to get a little newer car in the 5000 range that will have a higher Kelley Blue Book value than I pay for the vehicle. That way further depreciation might be offset a little. I usually buy a car from the owner that have really good maintenance records and are getting a newer car, and want a better price than the trade-in, or kept the car for a while after the new buy for other reasons.

 

[AUFred]

We have sworn off new cars after buying 2 brand new. Better bargain to go for a few years old car than a 10 year old car or a brand new. Watch the mileage when buying especially in domestics.

 

[Francis]

Ok here my opinion on the topic..

Brand New - Go for a new car if you plan to do some heavy mileage and a lot of driving.
The reason is you will hardly ever get all the features you want in a used car and can only get that in a new car. Plus you get the satisfaction of knowing it will be trust worthy for the warrantee it has on it. Make darn sure you have everything you want if you go this route because this will be the most expensive way to go. This was the route I took when i bought my Pathfinder in 2002 fully loaded but I did a lot of research. I got the biggest bang for mo money it it cost me.

1 to 5 year old car with extremely low mileage - Low millage in town driving with some security
I got this latest car ( Ford Focus ) at 1 year old and 7000 miles. Yah what a drop in style and comfort but with Gas at over $5.00 a gallon it was worth the savings. I also did not have the kids at home on a regular basis and lots of other stuff so this is more of a rack up the millage and it is working out for me. I did buy it at a Dealer Ship and did my homework again. I know I paid slightly above Kelly Blue book resale value as it was month end and they desperately wanted to dump the massive amount of cars on the lot. I had my pick and again chose the best options for me but this time had to settle for what was on the lot..

Back in my youth I bought many 10+ year old cars - if this is for minimum driving and such.
These are hard to judge so you need a good mechanic with you. You can easily dump $5000.00 on the car and need to pay $2500 right away on more tranny or engine work depending on the car. Imports are very expensive that way and in my Pathfinder I remember reaching 100,000 miles and needing a seal changed at the back of the engine and it cost me $1200.00 because they had to remove the whole block to get to the back. It had just passed the warrantee so I was SOL.. Hence why I don't have it anymore.. But in all those cars I got I did get many good ones and a few lemons..

Anyway, that's my opinion and past experience..

 

[MsPoppy]

Lots to think about. Thanks to all.

 

[The Man]

If you drive lots of miles...I mean lots..then go new..it helps offset the cost of insurance and car payments also depreciation...I see people that have new cars but drive them very little....meaning the cost per mile to own is very very high this way...also they think their car will hold its value better if they dont drive it...the mileage compares little to loss in value as compared to the year..additionally why get something then not want to use it??
Lets recap....high payments high insurance depreciation loss....thats alot of money for something to be sitting 90 percent of the time.
If one drove 50 k or so a year...the cost per mile is much lower than someone who goes 10 k a year with that same car.
Go used...for most..best bang for the buck...decent cars can be bought for about 4 grand with alot of service left..or less if you shop

 

[doombug]

I buy new now but I get the employee discount which offsets depreciation. Otherwise I would buy used. A couple of years old without alot of miles is usually best. The last used car I bought I got the carfax report, well worth it.

 

[mazHur]

An old car is pain in the ass!!

 

[MsPoppy]

Thus far my current used car has been a Godsend. It was a trade for an older car and something of value to the peson that traded with us, that we had. Repairs have been worn parts, and I have put many miles on it. I'm in a position now where the mileage thing is at a minimum at under 300 miles a month, and I feel this is a good thing as the car is 13 years old and though it has not been babied, it runs super great, It's a Honda. Repairs are spendy, and I know no backyard mechanics so I pay a lot for them. Most of my used cars in the past have been really good.
In the future I will be traveling a lot more if I get get some stuff off the ground. It's my preferred way to make money. So the heavy travel use will be a factor. Normally I have two or three vehicles so never have to worry about one being down. I have no-where to park them here though, and that's another reason for thinking new(er). I guess for now I can save the money that would be the monthly payments, and hope repairs on this current one don't start eating away at my savings. There is lots to weigh in a decision like this for me and I thank all for their input that is helping me see the different angles

 

[sammykinzz]

I reckon its best to get a used car.... altho some people might say your bying someone elses problems its not that bad, aslong as u have a good look at it a good test drive get it checked over and the other up side is that you can do servicing yourself, where with a new car i am pretty sure to keep the warante you need to get it serviced on time evertime and by a profection that could cost you lots over the period of warante.

Also it prob work out cheeper with insurance and repayments. unless you can afford to by it outright then it will just be the type of insurance you want!

So i gues the days of buying a band new car are none existant to most people now as u can get better deals and it is cheeper to by a used car!!

mines had around 4 owners i think and is 20 years old done 300,000 and yes sure needs some work done to it but hey i love the car and if it didnt need work done to it, id prob make something wrong with it so i could fix it!

but i have had it for about 3 years and have hardly spent a thing on it!!

 

[The Man]

I used this site here for my last purchase..drove about 140 to 150 miles to go get it...long drive yes..but got a good deal.
Just enter the price range and the radius....Note some of these might be auction with means you would have to have a dealer license...but most will be car lots or individuals selling cars......Dont be afraid to put in a large radius...as driving an extra hundred miles can save you lots of cash at times

http://www.cars.com/

 

[Darrell]

Personally, I always buy used. I always ensure that the car is "certified used" and have it inspected by a mechanic prior to purchase. New cars are a mega rip off. I'd rather have something semi new, and still some extra change in my pocket at the end of the day.

 

[MsPoppy]

Just an update...I tried to help my dad pick out a used car. I would have preferred he had the one he settled on checked out better, but he insisted the people were OK...I didn't feel the same as I got crankster dope feind energy off them...but he said he knew the guy for years.
Anyway he is a little over $500 in repairing it, and has more to go. I will not even get into the list of the first obvious yellow flags to me that didn't occur to my dad (in the name of friendship). It will be a good car when he gets all the stuff done though, and beats the heck out of his last car that he was driving til the wheels fell off.
Mine continues to be in very good driving condition, and I am now buying a new tire a month, as two are not holding air too well.

BTW...TM...That is a good site

 

[The Man]

Sorry to hear your Dads latest car needed repairs after a purchase...especially after he knew the people.
Speaking of tire..I am getting very close to needing to buy a set myself...they are very high right now arghhh

 

[MsPoppy]

I am getting one tire at a time and lifetime insurance on each tire for an extra $10. I have been paying attention to insurances of all kinds lately...lowering deductibles on comprehensive and collision, tire ins., roadside ins., even renters insurance.

 

[Alien Allen]

Certified Used Cars can also be an option. You pay a bit more but you get a warranty. Also you can shop around for an extended warranty. I did that with one of my cars years ago. You can save money compared to the factory extended but ya just have to be careful as some of those companies are impossible to deal with.

 

[Galvatron]

I have never owned a new car..never will they are way over priced and lose way to much money,saying that i have never purchased a second hand car from a dealer also,i buy private and get good deals,i get to go over the car 110% with my own eyes,test drive the arse of it and walk away to do reasearch ect,but the best bit is the haggle on price,i love pulling cash and watching them roll over at my stupid offers that in most cases gets me a serious bargain.

If you do ever buy private or even of a dealer and you do not know much about cars then i suggest you take along someone that does know their stuff as once it's yours then so are the problems.