- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
How bad of an idea is it to buy a new car?
Posted on 11/29/14 at 12:53 pm
Posted on 11/29/14 at 12:53 pm
Buying the wife a mid-size SUV, lots of choices out there. Test drove some today and almost bought a new one, but I wouldn't let myself do it.
Is it really that bad of an idea due to depreciation? Is there ever a situation where you should buy new?
I've noticed the "slightly used" ones these days are pretty damn expensive compared to 10 years ago.
Is it really that bad of an idea due to depreciation? Is there ever a situation where you should buy new?
I've noticed the "slightly used" ones these days are pretty damn expensive compared to 10 years ago.
Posted on 11/29/14 at 1:17 pm to TheCaterpillar
There are plenty of reasons to buy new- when I bought my truck, there was only $1000-1500 difference in new vs used.
New vs used isn't as wide of a margin as it used to be, especially if your looking at Honda/Toyota.
Look at the rebates and incentives and comparethe numbers.
New vs used isn't as wide of a margin as it used to be, especially if your looking at Honda/Toyota.
Look at the rebates and incentives and comparethe numbers.
Posted on 11/29/14 at 1:21 pm to TheCaterpillar
Life is too short to buy used cars.
Posted on 11/29/14 at 1:23 pm to TheCaterpillar
If you buy at the right time you can get better deals on new than slightly used.
Posted on 11/29/14 at 1:40 pm to TheCaterpillar
I bought my 2010 silverado new at the end of 2010 and after rebates and haggling I paid just a few hundred more than the trucks that had 10-15k on it. Just look around and do what you think is best.
I had never owned a new vehicle and felt good knowing I'd be the only one that had ever done maintenance on it
I had never owned a new vehicle and felt good knowing I'd be the only one that had ever done maintenance on it
Posted on 11/29/14 at 1:49 pm to TheCaterpillar
It's a personal decision. Financially, it's not as terrible as the "Ramsey" types make it out to be. Incentives, financing, rebates, etc are very attractive on new vehicles. The depreciation hit only matters if you total it or trade it in the first few years. If you keep it 10 years, it doesn't really matter.
I'm much more comfortable buying new since I will know how it's been treated and maintained. All miles are not equal.
I'm much more comfortable buying new since I will know how it's been treated and maintained. All miles are not equal.
Posted on 11/29/14 at 1:52 pm to TheCaterpillar
I have done both- paid cash for the new -heavily discounted
Recently bought a pre owned with only 23K- vehicle was 4 years old, owned by an older genteleman who trades for new cars every 3-4 years- it looked and smelled brand new! Paid less than half the cost of new
Recently bought a pre owned with only 23K- vehicle was 4 years old, owned by an older genteleman who trades for new cars every 3-4 years- it looked and smelled brand new! Paid less than half the cost of new
Posted on 11/29/14 at 1:58 pm to LSURussian
quote:
Life is too short to buy used cars.
The truth.
But, if the OP is looking for a "practical" reason, several of the other posters have already explained the post Cash for Clunkers economics of new vs used.
Posted on 11/29/14 at 2:01 pm to 756
It just depends on the market and the vehicle.
Right now, 4x4 higher end pickups are VERY expensive used. You can get a brand new pickup for only 10-15% more than a truck with 30k miles on it. That's a no brainer for me.
Right now, 4x4 higher end pickups are VERY expensive used. You can get a brand new pickup for only 10-15% more than a truck with 30k miles on it. That's a no brainer for me.
Posted on 11/29/14 at 2:13 pm to TheCaterpillar
Check out similar used cars, if the difference after rebates and what not is only a couple thousand I would buy new for the warranty + extended warranty
Posted on 11/29/14 at 3:11 pm to tduecen
Depends on the make. A used 2013-2014 Honda will be the same price as a new 2015.
Posted on 11/29/14 at 3:45 pm to Coach Guidry
It depends on several things but IMO it depends on how long you keep your vehicles. If you like to get a new vehicle every few years. Then buying new cost a lot of money, if you keep your car for 7+ years then buying new isn't so bad.
My BMW was 22k cheaper than new with 26k miles on it and with a warranty. Obviously its a lot better to buy "luxury brands" used.
My BMW was 22k cheaper than new with 26k miles on it and with a warranty. Obviously its a lot better to buy "luxury brands" used.
This post was edited on 11/29/14 at 3:46 pm
Posted on 11/29/14 at 3:50 pm to TheCaterpillar
quote:
Is there ever a situation where you should buy new?
I you plan to maintain it meticulously and drive it until the wheels fall off - I'm talking 12, 14 years, 175k to 200k miles.
That's about it.
This post was edited on 11/29/14 at 3:51 pm
Posted on 11/29/14 at 4:14 pm to TheCaterpillar
I just did a search on autotrader and there are about a dozen used trucks similar to the one I bought new in February. they are all within $2k of what I paid for mine some more some less.
Slightly used isn't the deal it used to be.
Now if you're willing to buy 5-6 years old you'll save some money.
Slightly used isn't the deal it used to be.
Now if you're willing to buy 5-6 years old you'll save some money.
Posted on 11/29/14 at 4:59 pm to yellowfin
From what I have seen just pricing vehicles it seems like it is better to buy trucks and SUVs new. As far as cars it would depend how old and the brand
Posted on 11/29/14 at 5:20 pm to Coach Guidry
Bought used once and never again. Problems didn't show in the vehicle until much later. Loved the van but the aggravation was too much. New van has been solid and with 0.9% financing it is stupid not to buy new. Warranty will outlast the payments by 2 years also. No brainer.
Posted on 11/29/14 at 5:25 pm to barry
quote:
My BMW was 22k cheaper than new with 26k miles on it and with a warranty. Obviously its a lot better to buy "luxury brands" used.
Other consideration is whether a model is being redesigned, especially if it is a higher end car.
I decided not to buy an Audi this year (new or used) because the remodel is happening next year to most of its line. These remodels happen ~6-7 years.
Posted on 11/29/14 at 5:33 pm to TheCaterpillar
The major reason most cars depreciate so quickly in the first 2-3 years is that many people expect that something must be wrong with the vehicle if you are willing to sell that quickly. Believe it or not, a Nobel Prize was awarded for a paper exploring this concept, although I personally suspect it could be updated since info is more easily obtainable and used car dealers are more accountable today.
It's usually a very bad idea to buy new with the intention of trading it in 2-3 years later and repeating the process. But it can be perfectly fine to buy new if you plan to drive it into the ground for the next 10 years and 200k miles.
It's usually a very bad idea to buy new with the intention of trading it in 2-3 years later and repeating the process. But it can be perfectly fine to buy new if you plan to drive it into the ground for the next 10 years and 200k miles.
Posted on 11/29/14 at 5:35 pm to statman34
quote:
statman34
quote:
Bought used
quote:
van
Think I found your problem.
Posted on 11/29/14 at 7:19 pm to TheCaterpillar
Definitely not for Jeeps. When I was in the market the 2-3 year old Jeeps were only a couple thousand cheaper than new. I went with new, because I didn't want to chance that a previous owner drove the Jeep like an a-hole.
Popular
Back to top
Follow TigerDroppings for LSU Football News