Used car purchase strategy

You need to provide some more information. To start: What kind of car? A German sedan has a different sweet spot than an F-250.

Generic answer: buy something current body style but a couple years old with a good CPO warranty.

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Is there a sweet spot (age, mileage) for realizing the most value for the used car purchase?

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There is no "standard" answer, but I will tell you what I look for. 4 to 6 years, ~ 75k miles (a little more if it is a Toyota or Honda is acceptable), priced near market value.

Now you can walk up to a car and not notice things - the dealership or seller will have cleaned it up. However, at that level, the test drive will tell you everything you need to know. If the car feels tight and like new - it was probably well maintained. If it has name brand tires on it - it is probably well maintained.

If there are obvious problems you can live with - great - deduct your offering price. If the thing has a ganky transmission, leaking fluids or significant rattles, odors, etc. - just walk away - not even worth negotiating.

I like that range, because most cars today are good for 175 to 200k (again, Toyotas and Hondas, particularly) miles - people don't like cars when they get a little age on them, and the price plummets as it approaches 100k - many new dealerships do not even want cars with 6 figure mileage on their used lots.

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buy something current body style but a couple years old with a good CPO warranty.

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this was discussed on the OT a good bit yesterday, but I just do not see much discount on used cars that fit your description


most 2 year old, low mileage used cars go for only a couple to a few thousand less than their new version

doesnt make sense to buy used in that case IMO

to get significant discount on a used car, you need to be older, but i dont know where that sweet spot is

You are right. Trucks, esp down South, will depreciate much quicker (Esp Dodge)

If you are to purchase a truck...it should not be with the intention to trade in...it should be owned for the life of the truck.

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Dang...where the hell did you go. I want to go see them. What kind of truck? Details, etc.

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I bought a 2012 in Sept of 2012. 2013s were hitting the lots, so they had massive rebates on the 2012s. I went to Houston because they had the exact truck I wanted at the best price.

F150 FX2 SuperCrew loaded except for nav.

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That's bad arse. Hope I get that lucky

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Luck has nothing to do with it. Just have to research whatever it is you want extensively and be willing to go far to get it.

A friend of mine bought the same truck as me this year (obviously his was a 2013), and he paid $38k for it. You just have to be willing to put in the time.

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most 2 year old, low mileage used cars go for only a couple to a few thousand less than their new version

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That's why I asked what kind of car OP was looking for. This suggestion relates mostly to German cars: a 2012 BMW 328i with a great CPO warranty goes for about $10k less than a new one (25% of total price), with only about 10,000 miles on the odometer. Doesn't work like that for Accords.

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This is not the case with trucks right? For example a new F150 will be ~$35-40k where a used one 2 years older you can find around 25. Am I right or does the previously mentioned comment apply to trucks as well?

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From my homework, you're usually better off getting a good deal on a new truck. Fords and Chevys can usually be found for $10k off sticker with no negotiating at the larger Texas dealerships (Mac Haik, etc). When they're on sale $13k off isn't unheard of. Plus you're financing at a better rate if it's new. Plus when you go to sell it, NADA and KBB base the value from MSRP which you didn't pay.

Honda has the number one re-sale value of any brand. Our used units will be heavier priced because of it. Benefit of buying new...your 5 year cost to own will be lower than GMC or Chevy.

Great thread