Started By
Message
locked post

Are slightly used cars still the best value?

Posted on 9/16/12 at 10:31 pm
Posted by urinetrouble
Member since Oct 2007
20631 posts
Posted on 9/16/12 at 10:31 pm
Last time I bought a car, it seemed like a slightly used car (2-4 years old) offered the best value, due to the "off the lot" depreciation effect. Is this still true?

Just started looking for a vehicle and it doesn't seem like the no-brainer it was a few years ago. My impression is still that the slightly used car is a better deal, but I am seeing some instances where the price difference isn't as significant as I would have thought.
Posted by Ric Flair
Charlotte
Member since Oct 2005
13872 posts
Posted on 9/16/12 at 11:04 pm to
I would either buy new (where rebates can be applied, and you know that no one has been driving the car hard/rough) or buy reliable car with high mileage. The days of getting a good deal on a slightly used reliable (i.e. Toyota) are gone, imho.
Posted by notslim99
City of Bossier City
Member since Feb 2005
4549 posts
Posted on 9/16/12 at 11:07 pm to
quote:

The days of getting a good deal on a slightly used reliable (i.e. Toyota) are gone, imho.


This. We traded in an 18 month old Honda CRV, and the dealership put it on their used lot for $2000 more than we paid for it new.
Posted by jmarto1
Houma, LA/ Las Vegas, NV
Member since Mar 2008
38164 posts
Posted on 9/16/12 at 11:08 pm to
It depends how much you can get the used for. I bought my 2010 F150 brand new for $26k. I got a deal from a good friend I admit. A used comparable was only $2k less. I'll spend $2k to have a truck that no one else has touched. My overall point is, how much is brand new worth to you?
Posted by Croacka
Denham Springs
Member since Dec 2008
61451 posts
Posted on 9/16/12 at 11:11 pm to
I read an article about 2 years ago that showed that Honda accords with less than 15k miles were selling within 500 dollars of brand new ones


Most folks on this site ridicule people for buying new and talking about the immediate depreciation

Of course there is some, but it's not like it used to be

I don't care about the immediate depreciation anyway.....I'm not buying the vehicle to trade it back in a week
Posted by notslim99
City of Bossier City
Member since Feb 2005
4549 posts
Posted on 9/16/12 at 11:14 pm to
quote:

I don't care about the immediate depreciation anyway.....I'm not buying the vehicle to trade it back in a week


Considering I aim to keep vehicles for an average of 8-10 years (except for the aforementioned CRV,) I like buying new with extended warranties.
Posted by Croacka
Denham Springs
Member since Dec 2008
61451 posts
Posted on 9/16/12 at 11:23 pm to
Let's say that a 30,000 dollar vehicle depreciates 3k when you drive it off the lot
(which is probably a high estimate)


In 6 months, your total depreciation (barring high mileage rate) would probably still be about 3k

Posted by NELAtigers
Member since Nov 2010
1279 posts
Posted on 9/17/12 at 12:17 am to
quote:

Most folks on this site ridicule people for buying new and talking about the immediate depreciation


I think most of the ridicule comes from people buying vehicles with every available package included and trading the vehicle in within 3 years.

For 95% of people the only thing they need is dependable and A/C.
Posted by Layabout
Baton Rouge
Member since Jul 2011
11082 posts
Posted on 9/17/12 at 12:50 am to
quote:

The days of getting a good deal on a slightly used reliable (i.e. Toyota) are gone, imho.




Spot on. A three year old used car with low mileage will sell for almost as much as a similar brand new car.
Posted by BestBanker
Member since Nov 2011
19103 posts
Posted on 9/17/12 at 7:13 am to
Finally, a thread that makes some sense about auto purchases. Good to read some rational information.
PS. Remember to thank a wealthy person today, because without them, you have no choice in the matter.
Posted by Catman88
Baton Rouge, LA
Member since Dec 2004
49125 posts
Posted on 9/17/12 at 7:52 am to
Really depends on Rebates.

I got my truck at a price that that was cheaper than what they listed a used one on their lot that was slightly used. Huge rebate at the time though.
Posted by yellowfin
Coastal Bar
Member since May 2006
98780 posts
Posted on 9/17/12 at 8:12 am to
Every situation is different and requires you to do your own research.
Posted by wickowick
Head of Island
Member since Dec 2006
46293 posts
Posted on 9/17/12 at 8:20 am to
I think cash for clunkers pulled a lot of used cars off the street. That combined with the decrease in new car sells over the past couple of years has left a decreased supply of used cars on the road compared to the past...
Posted by LNCHBOX
70448
Member since Jun 2009
88721 posts
Posted on 9/17/12 at 8:20 am to
I just bought a 2012 F150 with a bunch of rebates due to 2013s hitting the lots. Got it for $11k under sticker.

After looking at the slightly used market, it made more sense to buy new at that price.
Posted by brgfather129
Los Angeles, CA
Member since Jul 2009
17360 posts
Posted on 9/17/12 at 8:28 am to
quote:

extended warranties


...yeah, I wouldn't go that far.
Posted by notslim99
City of Bossier City
Member since Feb 2005
4549 posts
Posted on 9/17/12 at 8:39 am to
quote:

...yeah, I wouldn't go that far.


You should negotiate every aspect of your vehicle purchase. If you let it be known that you will walk from the deal because you don't like the price of a warranty, they will cave 9 out of 10 times. Be prepared to walk though.
Posted by dewster
Chicago
Member since Aug 2006
26530 posts
Posted on 9/17/12 at 8:58 am to
The fashionable cars will sell at higher prices.

The good values will be the fleet models......stripped down versions of the Ford Fusion, Chevy Impala, Toyota Corolla, Hyundai Sonota, and Mazda 6 etc. Even then, a used car with low miles and decent fuel economy will sell pretty quickly.

Also something to consider....10 years ago, not many cars on the road that lasted more than 150,000 miles. Most cars can easily do that today as long as the owner takes care of them.

Cars are notorious for depreciation. Lots of people have figured out that buying slightly used examples is usually a better deal- which is why used car values are up and new car rebates are generally low. Between 2008 and 2010, new car sales were down- which contributes to a supply constraint for used cars.
This post was edited on 9/17/12 at 9:11 am
Posted by ItNeverRains
Offugeaux
Member since Oct 2007
28166 posts
Posted on 9/17/12 at 9:21 am to
Can get a 2012 accord lx for 18.5 with 0.9 for 60 months. Paid 17k new for my accord in 99'. 1500 bucks in 13 years is pretty sick.

My wife went for the crosstour. 22.9k with 0.9 for 60. Got 2500 in trade for 99' accord with 192k on it.
Posted by TheHiddenFlask
The Welsh red light district
Member since Jul 2008
18384 posts
Posted on 9/17/12 at 9:24 am to
quote:

buy reliable car with high mileage


These seem to be the best value to me.
Posted by CoolHand
Member since Dec 2011
2108 posts
Posted on 9/17/12 at 9:31 am to
I believe this shift in depreciation rate is temporary and will adjust back to where
It was soon. That is if the government doesn't get involved again.
first pageprev pagePage 1 of 2Next pagelast page

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on X, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookXInstagram