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Honored Contributor
Posts: 16,017
Registered: ‎06-09-2014

You were all so wonderful with your suggestions on what to buy that I am weighing how to buy now.

 

I am a little in shock with new car prices.  I have always bought small economy cars.

The most I have ever paid for a new car is $16,000 five years ago. 

 

Now that we have so much technology mandated on cars the bottom rung price for Toyota's basic is over $20,000.  You can go used for about half if you can even find one which I haven't yet but give up at least 30,000 miles or more on the engine.

 

I can afford the $20,000 but I am having a REALLY hard time with paying it for a basic economy car.  I currently have a friend pricing a Honda Fit to see if they can do better.

 

So what would you do?  Bite the bullet and pay the $20,000 for a brand new economy car you hope to run into the ground and have for 10 years or more?  Or take your chances and save some money on a used car that won't last as long and may not be as reliable?  

 

Honored Contributor
Posts: 34,519
Registered: ‎03-09-2010

Re: Opinions on New vs Used car

@Laura14

 

We made friends with a dealership (a number of years ago) and were offered a salesman’s demo which was low miles and very nice.

Then, they called to offer us an insanely low mileage (33,000 belonged to an elderly woman). It was still under warranty.

Dont know if these types of deals still exist, but maybe?

 

i guess my thought is, if you can verify the previous owner and the way the car was used/cared for, a used car might be the best deal?

~Have a Kind Heart, Fierce Mind, Brave Spirit~
Esteemed Contributor
Posts: 5,882
Registered: ‎03-10-2010

Re: Opinions on New vs Used car

I think most recent cars that have been well cared for should last a very long time.  If I were buying a used car I would want to see service records of talk to independent service person who has those records.  I might even have it looked at by independent garage (and pay #100+ for that service) before I commit to buy.

Honored Contributor
Posts: 9,283
Registered: ‎03-09-2010

Re: Opinions on New vs Used car

The only way I would buy a used car is from the dealer that sells those cars and if it came with some type of a warranty.

 

Many years ago when we were searching for a car for our daughter, we were fortunate to find a fully loaded Ford Focus that had been a loaner car and had 2 1/2 years left on the original warranty.

 

She pretty much ran it to the ground and we used it as a small trade-in for our new car when we bought it.

Honored Contributor
Posts: 35,612
Registered: ‎05-22-2016

Re: Opinions on New vs Used car

[ Edited ]

I would never buy a brand new car for a few reasons. First, the insurance would be much higher and second the plates and taxes are very high for a new car. I would prefer to buy a used car that is about two years old or so.

 

There is also another budget way to buy a new car and that is to look for what they call a 'dealer's special' or a 'dealer back-lot' car. These cars are brand new but are a few years old and have been sitting in a dealer's lot somewhere. They are sold for very cheap. 

Respected Contributor
Posts: 3,960
Registered: ‎03-09-2010

Re: Opinions on New vs Used car

If you go the used route, get a  CPO "certified pre-owned" they are still under warranty

Honored Contributor
Posts: 9,139
Registered: ‎04-16-2010

Re: Opinions on New vs Used car

[ Edited ]

@Laura14  I buy used as the value of the car drops 50% the moment you drive off the lot. Plus, I don't trust dealerships (won't go into why, I just don't). The ONLY place I will purchase a used car is Carmax. LOVE THEM. Never have had an issue and only fantastic service. Case in point:

 

Purchased my 17 year his car for graduation last Spring (my car died and he can't have a car on campus so the timing was perfect). FULLY loaded Toyota Camry, built 12/16 (we bought it 6/17), plastic covering still on parts of the car, still had the new car smell, less than 10,000 miles, all warranties in place and we paid.......$18,000. We had him search online regarding safety, recalls, etc and then sat down and searched the Carmax site, pulled up 6 cars and headed out. He drove all of them, picked the one he liked, we discussed pros and cons and then bought it. 

 

New-wise, I do a lease, return and then buy the lease as a USED car. I know what I'm getting that way, lol.

 

HTH : )

Respected Contributor
Posts: 3,336
Registered: ‎03-11-2010

Re: Opinions on New vs Used car

We've always purchased a new car. Nice to have the long warranty. I guess you can get a shorter warranty on some used cars if that's what you wish. 

Super Contributor
Posts: 424
Registered: ‎09-28-2013

Re: Opinions on New vs Used car

After buying several new cars, from 1980 to 1996, between the two of us, we went to 2 year old cars. I'm surprised how many people trade every two years! We've kept ours at least 8 years, and still have a 2002 Honda minivan we bought in 2004.

 

In 2010, I wanted a new car, but couldn't find one that didn't make my back hurt. I'd decided on a Mitsubishi Outlander, a friend could get me a nice discount on a new one. But by the time I made up my mind, they changed the style, and did some things I just didn't like. Changed the grill, for one, and dropped one of the 3 glove boxes.  

 

Well, I asked if they had a used model, and he did! Dealer gave me a good price, it was more car than I would have bought but I'm very pleased!  4WD, sun/sound package, something else I forget.

 

Point is, it was still a tad more than the economy model new. Very low mileage too, was a second car, mosty garaged. At this point, I never would've used the full warranty. Back to the point, in my experience, a good used car can be almost as pricey as a new one. Find the one you like, new or used, and go for it. But not too used, and watch the mileage.

Honored Contributor
Posts: 14,938
Registered: ‎03-11-2010

Re: Opinions on New vs Used car

We have always bought new. I figure if I buy used I will get stuck with someone else's lemon.

If you buy used have a mechanic go over the car. No way would I buy used without doing this. 

If you buy used be on the lookout for those cars that have been in all the floods happening lately. They still clean them up to sale.

If you want to buy used look at the pre-certified cars.

Our 1st new car was $6,000 for a 1978 Cutlass Supreme. We ordered it how we wanted it.

My car is a Toyota & the price was double of the one you are looking at. I don't even know why I bought it. It sits in the garage most of the time. It will be 5 yrs old in Apr & does not have 10,000 mile on it yet. LOL!!! This would be a good used car!!!