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re: Car buying preference: 3 year old luxury car or new ordinary car?
Posted on 4/21/15 at 10:45 pm to CatsGoneWild
Posted on 4/21/15 at 10:45 pm to CatsGoneWild
quote:
They depreciate like crazy.
That's not just happenstance, you realize?
0
Posted on 4/21/15 at 10:46 pm to East Coast Band
Depends. Will the 2-3 year old luxury car be a certified pre-owned? If yes, then I would consider it.
What new ordinary car are you considering?
What new ordinary car are you considering?
Posted on 4/21/15 at 10:49 pm to East Coast Band
I always buy one or two years used with 20000 miles, let a bigger fool eat the depreciation.
Posted on 4/21/15 at 10:51 pm to Jawja_Joe
So I am a fool because you can't afford a new German auto?
Posted on 4/21/15 at 10:56 pm to G Vice
The only issue with a German luxury car is cost of maintenance. The oil change/services aren't that bad because they are every 10k miles or so. What hurts is the major repairs, they can be really, really expensive. That being said, by purchasing a used luxury car you skip the huge initial depreciation. No way I'd buy a brand new loaded Honda either since I would be taking the big hit on depreciation.
For 30k, I'd probably get something nicer than an accord, and less costly than e class.... I'd look into a certified preowned Infiniti or Acura.
If I really wanted to spend 30k on a Benz or Beamer I wouldn't get a 4 year old e class, I'd rather get a slightly older higher end model, since both cars would be out of warranty and potential money pits.
For 30k, I'd probably get something nicer than an accord, and less costly than e class.... I'd look into a certified preowned Infiniti or Acura.
If I really wanted to spend 30k on a Benz or Beamer I wouldn't get a 4 year old e class, I'd rather get a slightly older higher end model, since both cars would be out of warranty and potential money pits.
Posted on 4/21/15 at 10:57 pm to Marco Esquandolas
Imo, yeah, it's such a waist to spend unnecessary money on a rapidly depreciating asset.
Posted on 4/21/15 at 10:59 pm to East Coast Band
I've owned 2 Nissan Maximas that gave me 150k+ trouble-free mileage.
I drive a 17 yr old (1998) Toyota Landcruiser with 267K miles on it, and it refuses to die.
I do do preventive maintenance, like belts, hoses, water pump, timing belt, etc, and that does have it's cost, and no car can escape that........but none of this crazy $300 oil changes and crazy maintenance charges on overly engineered parts.
ETA: the advice given above on used Acura or Infiniti is very good. Save money and buy reliability. Do some internet research on the vehicle in question.
I drive a 17 yr old (1998) Toyota Landcruiser with 267K miles on it, and it refuses to die.
I do do preventive maintenance, like belts, hoses, water pump, timing belt, etc, and that does have it's cost, and no car can escape that........but none of this crazy $300 oil changes and crazy maintenance charges on overly engineered parts.
ETA: the advice given above on used Acura or Infiniti is very good. Save money and buy reliability. Do some internet research on the vehicle in question.
This post was edited on 4/21/15 at 11:02 pm
Posted on 4/21/15 at 10:59 pm to JBeam
quote:
Depends. Will the 2-3 year old luxury car be a certified pre-owned? If yes, then I would consider it.
What new ordinary car are you considering?
No way can you get a certified 2-3 yr old e class for 30k. For that price, cpo, best you can do is a C class(which would be an outdated body style), an Audi A4 or a bmw 3 series.
Posted on 4/21/15 at 11:02 pm to 632627
Posted on 4/21/15 at 11:03 pm to East Coast Band
I'd buy a new one.
More warranty for the same price, and I have no use for a luxury vehicle.
If you're ugly and can't get women though, maybe it'll behoove you to go with the fancy one.
More warranty for the same price, and I have no use for a luxury vehicle.
If you're ugly and can't get women though, maybe it'll behoove you to go with the fancy one.
Posted on 4/21/15 at 11:08 pm to Croacka
I just typed up 2014 and 2015 accords on auto trader with less than 15 k miles, with leather, under $26k price, and came up with 28 cars within 200 miles of me. a good percentage of them were around $22 k for either 4 or 2 door and most of them had less than 10 k miles. Some with less than 2 k miles. Buy a year old one and save huge and keep the warranty.
Posted on 4/21/15 at 11:15 pm to Jawja_Joe
quote:
Imo, yeah, it's such a waist to spend unnecessary money on a rapidly depreciating asset.
NEWSFLASH....not everyone is a broke college student and can afford nice things in life.
Maybe you will understand that one day (but probably not--with that attitude you will never be at the top)
And for a fool, at least I know how to spell WASTE.
Posted on 4/21/15 at 11:16 pm to Marco Esquandolas
quote:
NEWSFLASH....not everyone is a broke college student and can afford nice things in life.
It's still a waste. Some people don't mind wasting money on it.
I'd rather waste it elsewhere personally.
Posted on 4/21/15 at 11:17 pm to East Coast Band
I buy 3 year old cars.
Posted on 4/21/15 at 11:19 pm to East Coast Band
Year old low miles decked out Accord with warranty still attached
Posted on 4/21/15 at 11:22 pm to CatsGoneWild
quote:
Just in my area I found two e350's for under 30k with less than 30k miles. Granted, I don't live by you guys. But I'm sure u can find them
Those aren't certified and the factory warranty is probably expired.
Posted on 4/21/15 at 11:26 pm to 632627
quote:
The only issue with a German luxury car is cost of maintenance. The oil change/services aren't that bad because they are every 10k miles or so. What hurts is the major repairs
While true, anyone who can afford the car itself should be able to handle any and all maintenance that comes with it. I always laugh at the 30k millionaires who finance a 50k car. People like that are fricked if they have a major repair on a German car
Posted on 4/21/15 at 11:28 pm to Hammertime
quote:
Year old low miles decked out Accord with warranty still attached
And unless you happen upon a desperate seller, you likely won't save all that much off of what you could probably negotiate the same car new on a given dealer lot. Cars like Honda Accords aren't depreciating "like crazy" for a reason.
This post was edited on 4/21/15 at 11:30 pm
Posted on 4/21/15 at 11:32 pm to East Coast Band
Nothing is more satisfying than driving off the lot in a brand new car with a three-year warranty knowing that you paid only a couple of dollars more than some poor sap who bought a two-year old used one with 30,000 miles on it and the previous owner's boogers all over the steering wheel.
This post was edited on 4/21/15 at 11:34 pm
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