It depends on the manufacturer, one or two year old Toyotas can be almost the same price as new in some cases. If you plan on keeping the vehicle for a long time (10 years+) I personally would just buy new.
Does it really make financial sense to buy used over new?
- Thread starter Nick1994
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When I bought my 2019 Rogue in 2021, new Rogues were only $4000 more than the asking price for the 2019. However, I needed a vehicle now and could not wait. Sadly, I didn’t have the cash and needed a loan.
The only maintenance I did on the Rogue was fluids and tires, and I’m debating on a battery since my son is buying it from me. In the 15,000 miles I put on it, it’s been fantastic. It’s now worth 67% what I paid for it in 3 years and 15,000 miles.
I got a job with a company vehicle so a 2020 Jeep Wrangler Sport Willys with 58,000 miles now sits in the garage as a fun toy. I paid $15,000 less than a new one and still have almost a year of warranty. I’m getting 4 new doors, a hood, and new paint on the tailgate due to the corrosion warranty. That will make it nicer longer. The tires are still good, but it looks like the early signs of needing an oil cooler are popping up. I may as well do spark plugs and all other filters while in there. Then it will be as good as a new one.
Our next minivan will be used. I can’t watch my kids and wife destroy a new one. It’s hard work keeping ours nice.
Like many here, it’s my mechanical ability that allows me to look at used first.
The only maintenance I did on the Rogue was fluids and tires, and I’m debating on a battery since my son is buying it from me. In the 15,000 miles I put on it, it’s been fantastic. It’s now worth 67% what I paid for it in 3 years and 15,000 miles.
I got a job with a company vehicle so a 2020 Jeep Wrangler Sport Willys with 58,000 miles now sits in the garage as a fun toy. I paid $15,000 less than a new one and still have almost a year of warranty. I’m getting 4 new doors, a hood, and new paint on the tailgate due to the corrosion warranty. That will make it nicer longer. The tires are still good, but it looks like the early signs of needing an oil cooler are popping up. I may as well do spark plugs and all other filters while in there. Then it will be as good as a new one.
Our next minivan will be used. I can’t watch my kids and wife destroy a new one. It’s hard work keeping ours nice.
Like many here, it’s my mechanical ability that allows me to look at used first.
I thought I had the best depreciation on a vehicle with (the only new car I ever bought)-the $14,900 xB in February '05-it'll be 20 years old next February, still clanking along, guesstimate it's probably worth $2500, maybe. So, $12.5 depreciation over 20 years is $625/year. @Pablo beat me! Also-inflation...
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I've seen a few posts online from dealerships and it sounds like cars are just sitting on the lots right now, barely moving inventory
Most of my cars have been purchased, registered, insured and repaired to daily driver status for less than the cost of a year of average new car payments.
Well that’s a good point
If you have to finance- buy used with cash
If you have to finance- buy used with cash
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My dad was always good at this. The key is to not keep the car long. 2 years or so. He usually git his money back on the vehicle. I'm not sure if he did this on purpose or just got bored. Pretty sure it was the latter. He always bought the cars when they were mostly depreciated, so the value didn't change much in 2 years
only new for me. Don't want surprises.
Wife won't ride in a car that is embarrassing. So that means it will probably cost at least $15K used.
Right on! I've ridden in so many ghetto rides that I feel the same way.
Favourite cars I’ve bought in the past were 10+ years old with low miles and garage kept.
Had a hell of a time trying to find one again last summer, the used market has really tightened up in the last few years. It used to be not so difficult to find a car like that, usually senior owned.
Had to sift through a lot of crap cars to find something decent last summer, at a price that made sense.
Don’t want to go through that hassle again. I’ll be telling my two daughters to buy a new Japanese car when they need new wheels.
Had a hell of a time trying to find one again last summer, the used market has really tightened up in the last few years. It used to be not so difficult to find a car like that, usually senior owned.
Had to sift through a lot of crap cars to find something decent last summer, at a price that made sense.
Don’t want to go through that hassle again. I’ll be telling my two daughters to buy a new Japanese car when they need new wheels.
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First ride I gave to my wife (before she was even a "girlfriend") the door on my side didn't close past first click. I don't think it was from bad bushings so much as the cab was settling (more rust holes than metal in that S10). Pretty sure everything after the cat was merely a decoration at that time... and not a straight body panel. She didn't like driving my Jetta turbo diesel (but did when she had to), didn't care about my Camry that had no clearcoat left.
She does want to get a new car every 10 years. Good/bad I'm not sure, but after 200k+ and 10 NH winters, I think she's allowed to scratch that itch.
Although recently I was talking about getting another car and I mentioned being on the fence about side impact bags... to which she replied, it was ok if I was the only one to be driving it. I'm starting to think I might disposable...
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Absolutely no problem with that.
Especially if you can maintain it yourself. If so you can literally save a fortune.
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Given the option....
I'd rather have a dependable old vehicle parked in front of my beautiful mansion, and be able to afford any car I want........
Than have an $80k new vehicle parked outside my mobile home while I struggle to make ends meet.
(No offense intended if you happen to be the latter)
Just me.
ymmv
I'd rather have a dependable old vehicle parked in front of my beautiful mansion, and be able to afford any car I want........
Than have an $80k new vehicle parked outside my mobile home while I struggle to make ends meet.
(No offense intended if you happen to be the latter)
Just me.
ymmv
I want new. Don't care about depreciation as I keep them long. Don't want to buy a used car because there is no warranty and I am a bit too old to deal with surprises and repairs. And will pay cash and not take an interest hit.
I would only buy a used car privately to avoid the taxes. I would pick a make/year/model/ and go on the prowl. Low miles is a must ( less than 100k), was it garaged or outdoors, types of drivers/ driver. Is the body straight ? Take my floor jack and check for rust underneath. Always looking for that little old lady, back and forth to church and doctors. Maintenance records ??? Very time consuming, but worth it in the end. NEVER BUY A CAR SITTING ON SOMEBODY'S LAWN with a for sale sign in it. Lookin for trouble.
I've had really bad luck buying used, even when extremely low miles from reputable dealers. It's the kind of stuff random people do to cars that aren't seen until you really have to tear into a car.
Getting to be too much work to buy used, especially private sales--travel around, have to do your own inspection, carry cash, etc. Lots of risk. And since it's moved to FB (which I don't have), I know I'm missing out on deals. Buying from a dealership, slightly better, but you know you are getting a bad deal no matter what.
But new is huge money and only slightly less risk (outright lemons, recalls, things you missed on the test drive).
No good solution in my mind at the moment. It was easier when I was younger and dumber, and would just sign the dotted line for new. For a bit one could spend $20k for a new car that would last 10yr/200k, might have been a stripper model but eh, good enough.
But new is huge money and only slightly less risk (outright lemons, recalls, things you missed on the test drive).
No good solution in my mind at the moment. It was easier when I was younger and dumber, and would just sign the dotted line for new. For a bit one could spend $20k for a new car that would last 10yr/200k, might have been a stripper model but eh, good enough.
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