How much would you need to save to buy used?

[Elkins45]

How much do you need to save on a used car to make you choose it over a new one? Here's a specific example I would love to hear your comments on:

Hertz used car sales has a 2023 Camry LE with 13,772 miles for $21,840 plus assorted fees. A local dealer has a new 2024 Camry LE for $26,874, also plus assorted fees I'm sure. Taxes will add 6% on either. Since the Hertz was a rental car I'm guessing Toyota would void the warranty so all you get is a 12 month/12K Hertz warranty.

Is losing the warranty and getting a used car with almost 14K miles worth saving $5K? What would you do?

 

[dumkid]

Buy a $400 honda Civic from someone who just wants it out of their sight, put like 3k into maintenance and repairs, and spend the other 17,000 on gas or save it for when something breaks.

Who needs a giant control screen anyway

 

[DemoFly]

Paying 5k upfront to be temporarily protected from a possible 5k.

Then eating the depreciation when you drive it off the lot.

I dunno, I don't see the upside.

 

[Elkins45]

Paying 5k upfront to be temporarily protected from a possible 5k.

Then eating the depreciation when you drive it off the lot.

I dunno, I don't see the upside.

That's a clever way of stating the question. Makes me think. Thanks.

 

[Skippy722]

For $5,000 I’d buy a new one.

 

[DemoFly]

That's a clever way of stating the question. Makes me think. Thanks.

It's likely the factory warranty still applies to the Hertz car. You can call your local dealers and see what they say.

 

[Wingo]

I think buying new in that case would be the better idea. I think a savings of maybe 10k would get me to consider the rental over new.

 

[Gus_Mahn]

I generally won't pay more than 1/2 of sticker for a used car which typically puts me into 3-4 year old car. In a case like yours, 1-2 years old, I'd probably pay up to 75% of sticker, but I'd never buy a used rental car. I just found too many gross ones over the years. Not to mention they get wrecked and abused a lot.

 

[CKN]

How much do you need to save on a used car to make you choose it over a new one? Here's a specific example I would love to hear your comments on:

Hertz used car sales has a 2023 Camry LE with 13,772 miles for $21,840 plus assorted fees. A local dealer has a new 2024 Camry LE for $26,874, also plus assorted fees I'm sure. Taxes will add 6% on either. Since the Hertz was a rental car I'm guessing Toyota would void the warranty so all you get is a 12 month/12K Hertz warranty.

Is losing the warranty and getting a used car with almost 14K miles worth saving $5K? What would you do?

I don't think the 3year/36,000 mile is not in force because it was a rental. Get the VIN and have the Toyota dealer check. I have bought a half-dozen ex rentals over the years-there were zero issues with them. They all had some factory warranty left. I don't know if that varies from manufacturer to manufacturer. I have seen plenty of Carfax state the vehicle was an ex-rental-and it still had some warranty left.

 

[CKN]

Buy a $400 honda Civic from someone who just wants it out of their sight, put like 3k into maintenance and repairs, and spend the other 17,000 on gas or save it for when something breaks.

Who needs a giant control screen anyway

You fit right in on here.................who needs air conditioning and heating... I mean really....just drives up the cost.

 

[Fredxt]

Why does a rental company sell a car with 13K miles/1 yr? Maybe something is going on, you know that they don't report accidents

 

[Elkins45]

Why does a rental company sell a car with 13K miles/1 yr? Maybe something is going on, you know that they don't report accidents

This is a valid point as well.

 

[Skippy722]

You fit right in on here.................who needs air conditioning and heating... I mean really....just drives up the cost.

The last sub-$1000 vehicle I saw was a 97 Civic that had it’s catalytic converter cut out so it was just open header and the IAC valve or whatever was defective so it idled like it had the worlds biggest camshaft…. “BRAP BRAP BRAP BRAP BRAP”

The manual trans shifted like butter though, and it was $900 but yeah…. No AC on a 90F day no friggin thank you.

 

[awguy]

Most bang for the buck is at the three year mark. If something was wrong with the car most likely it was in the first year. Buying new is paying a lot of money for the chance to tell your friends it's new.

You can invest the difference said the smart shopper.

 

[JimPghPA]

You fit right in on here.................who needs air conditioning and heating... I mean really....just drives up the cost.

Or who needs air conditioning and heating controls that you have to navigate through menus to get to have anything change on them? To me that is a big turn off. I want the heating and air conditioning controls on separate actual physical controls. Makes it a lot quicker if you're trying to adjust something while you're driving the vehicle. It takes too much attention from the road to navigate through screens to get things to happen.

 

[JimPghPA]

Most bang for the buck is at the three year mark. If something was wrong with the car most likely it was in the first year. Buying new is paying a lot of money for the chance to tell your friends it's new.

You can invest the difference said the smart shopper.

When I was shopping I looked for about a 3-year-old vehicle that had a Carfax report of having all the oil changes done at the proper time. If it didn't have a history of having the oil changes done when they were supposed to have been done I didn't even look at it.

I actually passed on one real nice vehicle because it didn't have any history of oil changes.

When I found one that had a good history of oil changes and everything else was okay on it I jumped on it right away because I knew it would disappear if I waited.

 

[Torrid]

As a previous Hertz employee whatever you do, do not buy a used rental car. There's a reason why they're selling that with only 13k miles.

 

[DuckRyder]

I would buy new.

Also note that a hertz "LE" may not be equipped as a normal LE. The vin will probably decode as "LE (Fleet)" and it may be difficult to determine the differences.

 

[AZjeff]

Buy a $400 honda Civic from someone who just wants it out of their sight, put like 3k into maintenance and repairs, and spend the other 17,000 on gas or save it for when something breaks.

Who needs a giant control screen anyway

A person trying to decide whether to spend $27k new or $22k Hertz rental IS NOT going to be thinking "Hmmm, 3rd choice I could buy a POS Civic, spend months rehabbing it, and then drive around wondering what's going to break." Illogical but somewhat typical BITOG Luddite response. Hard for some to believe but people can afford to not drive a rolling wreck by choice or necessity.

Back to the question, $5k saving probably isn't enough for me to buy a rental. @CKN has bought several with no problems but I know my luck. I'd get the one that @DriveHard spent the weekend with on the rev limiter practicing J-turns and testing the parking pawl.

rental cars thread

 

[DuckRyder]

Ah the mythical $4000 err $400 Civic...