Yes-but there is a Blue Book category for condition. But if you Blue Book a car it's really not that big of a difference. In today's market however, visual, cosmetic differences matter much less than a couple of years ago to an average buyer. It's about availability.
What is the value of being the original owner of a car?
- Thread starter PeterGreen
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BITOGers considered these vehicles (100,000 miles) barely broken in.
It's a nice thing to know, but value is in the condition. I've seen long term one owner cars that were disasters.
Likewise, some times high mileage cars are a better deal than low mileage cars. A garaged 200,000 miles highway car that was meticulously maintained on all scheduled maintenance may be a far better car that was weekend short trip car that has 30,000 miles and otherwise neglected, poor maintenance schedules because it has "low miles" and "rarely driven."
Beautiful truck!Bought my Silverado new in June 83 and it's been my daily driver for the last 38 yrs, couldn't put a value on being an original owner or truck, besides my daughters would "KILL" me should I ever part with it.
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Yeah, ultimately price is set by market. There are always exceptions, and some cars depreciate faster than others.
You can generally save some money buying 2nd hand. Depends on what you want.
As others have pointed out, most depreciation is generally front loaded.
If you want to minimize your expense, you are probably better off buying used; in a few years the car's value is the same whether you bought it new or used, everything else being equal.
If you bought a 2013 Accord new or the same car in 2016 2nd hand, that car is worth the same now. If you bought uesd, what did you do between 2013 and 2016? Whatever cost you spent could have been put towards that new car.
Buy new because that's what you want and know there is usually a premium involved.
Whatever you decide, do your homework and good luck.
You can generally save some money buying 2nd hand. Depends on what you want.
As others have pointed out, most depreciation is generally front loaded.
If you want to minimize your expense, you are probably better off buying used; in a few years the car's value is the same whether you bought it new or used, everything else being equal.
If you bought a 2013 Accord new or the same car in 2016 2nd hand, that car is worth the same now. If you bought uesd, what did you do between 2013 and 2016? Whatever cost you spent could have been put towards that new car.
Buy new because that's what you want and know there is usually a premium involved.
Whatever you decide, do your homework and good luck.
But those cars rarely sold for sticker, especially back then. It was common for the ES and RX models to sell for at least 10-12% off msrp.
It's a little bit baffling to me why "original owner" is supposed to be a big plus for a used vehicle. This is a big deal for older collectible cars for some reason. But for all you know, that original owner neglected or abused the car or, very commonly for older stuff, let it sit in a shed for 25 years.
There is a good reason to buy used that doesn't include being cheap: that's if you want a particular vehicle that isn't made any more and doesn't have a good new counterpart. That describes me and my buying a 2011 Ford Ranger pickup this year. Ford ain't makin' no more of those, the new Rangers are too expensive and large, the new Maverick is an unknown, and I wasn't in a position to buy an old Ranger comfortably before now.
There is one group of people for whom buying new makes sense, despite the depreciation: those who drive a lot in a year. When I first joined BITOG nearly 20 years ago, I was driving some 35,000 miles a year. Getting anything with 100,000 miles on it already, or any junker/beater, made no sense. If you're putting a lot of miles on a car, buying new gives you a warranty and the opportunity to prevent problems by maintaining the car from the beginning.
If you're just driving a few thousand miles a year puttering around town, you should probably forget new unless you're showing off.
There is a good reason to buy used that doesn't include being cheap: that's if you want a particular vehicle that isn't made any more and doesn't have a good new counterpart. That describes me and my buying a 2011 Ford Ranger pickup this year. Ford ain't makin' no more of those, the new Rangers are too expensive and large, the new Maverick is an unknown, and I wasn't in a position to buy an old Ranger comfortably before now.
There is one group of people for whom buying new makes sense, despite the depreciation: those who drive a lot in a year. When I first joined BITOG nearly 20 years ago, I was driving some 35,000 miles a year. Getting anything with 100,000 miles on it already, or any junker/beater, made no sense. If you're putting a lot of miles on a car, buying new gives you a warranty and the opportunity to prevent problems by maintaining the car from the beginning.
If you're just driving a few thousand miles a year puttering around town, you should probably forget new unless you're showing off.
It’s great. It’s your baby. Plus only you farted in the driver’s seat. ( like someone else pointed out).
That's not just it though, if I am shopping for a mass market used car I can hop on the forums and see what problems ail that year/ powertrain. And if people have figured out how to "bullet proof" them if they aren't already in top nick from the factory.
A new car with new tech is an unknown, and many new buyers are guinea pigs.
To that end there are a few cars I've had at their end-of-life I would have loved to have had new or newer.
4WD
$50 site donor 2024
Then there are OCD people like me. I get a brand new rental with 6 miles on the clock. Take it easy - vary the speed on the highway … Heck, happy they gave me a new unit + figured somebody will own that car at 30k or so …Ya think that applies to those same adults that have rented vehicles in their past? Don't do things to your own car but a rental....
Yes…..hence the reason I stated in my post that the “msrp wasn’t carved in stone“!
In 5 years of ownership not one bolt has been turned on this car except for oil and filter changes, 1 set of tires and a battery.
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I think at least with collectible/enthusiast vehicles people like to know the history behind the vehicle, and that's usually easier with fewer owners.
Speaking of previous owners and Rangers, my parents bought their 2011 Ranger around 2014 or 2015 CPO from a Ford dealer in North Carolina. Bright red 4.0 XLT 2WD Super Cab. It was originally sold in the US Virgin Islands and my parents knew that. It is still in basically like new condition, but based on paperwork found in the truck, it previously belonged to a motorcycle/scooter shop owner in the islands who was murdered. The passenger side window is aftermarket and there's no telling why. Looks, runs, and drives like a brand new truck though and would easily sell for its new MSRP.
Thank you for understanding my point.
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Not sure where this thread headed to (I can take a guess) but what Is the value of being the origanal owner of a car?
It depends on what you’re talking about, buying used from an “original owner”? Supposedly that means that the person knows the car, took care of it and will tell you what it needs and doesn’t. And that’s total BS probably for most people.
But what’s the value of being an original owner yourself? Nothing if the car/truck is a lemon. Then you need to cut bait and get out if it quick (I did that with my 2018 Silverado - traded it in at 50,000 when it was using a quart in 5,000 miles and having random misfires). No use in keeping a questionable vehicle just because you’re the original owner.
But long term ownership? If you have a keeper (and I don’t think it matters one bit if you’re the original owner or not)...if you have a keeper and you keep it LONGTERM, I’m talking 300,000 miles? You save a boatload of money and you know the car. You know what’s coming. You know how it is in every situation And you know how it’s been maintained. You know what’s coming and what’s not coming - and that enables you good decisions that will help you financially. Opposed to buying a five year old BMW X5 with 90,0000 miles on it, that hasn’t been maintained and is now developing a 2nd to 3rd gear slip as you’re driving to work in your “new” $400 dollar a month $25,000 dollar “prestige SUV”...that you’ll be dropping a $5,000 dollar used transmission in (and be without the thing for two weeks). That type of experience makes you think about THAT original owner, and how much smarter he was than YOU.
It depends on what you’re talking about, buying used from an “original owner”? Supposedly that means that the person knows the car, took care of it and will tell you what it needs and doesn’t. And that’s total BS probably for most people.
But what’s the value of being an original owner yourself? Nothing if the car/truck is a lemon. Then you need to cut bait and get out if it quick (I did that with my 2018 Silverado - traded it in at 50,000 when it was using a quart in 5,000 miles and having random misfires). No use in keeping a questionable vehicle just because you’re the original owner.
But long term ownership? If you have a keeper (and I don’t think it matters one bit if you’re the original owner or not)...if you have a keeper and you keep it LONGTERM, I’m talking 300,000 miles? You save a boatload of money and you know the car. You know what’s coming. You know how it is in every situation And you know how it’s been maintained. You know what’s coming and what’s not coming - and that enables you good decisions that will help you financially. Opposed to buying a five year old BMW X5 with 90,0000 miles on it, that hasn’t been maintained and is now developing a 2nd to 3rd gear slip as you’re driving to work in your “new” $400 dollar a month $25,000 dollar “prestige SUV”...that you’ll be dropping a $5,000 dollar used transmission in (and be without the thing for two weeks). That type of experience makes you think about THAT original owner, and how much smarter he was than YOU.
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Yeah, I’d also add that I think people make mistakes when they buy “certified pre owned” and pay a premium for THAT. Sometimes a certified pre owned will cost you an extra $3,000 and for what? So, that that 30,000 mile car has been gone through by a tech at a dealer? Meanwhile the private owner sale with the same mileage Has also been serviced accordingly.
$3,000 is a lot to overcome for piece of mind on a lower mileage vehicle still under factory warranty. And depending on the vehicle itself, an extended warranty “protecting“ you up to 100,000 miles may not be necessary either.
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I know exactly what you’re saying.
Last June I bought a 2016 Toyota Avalon, previously owned by a little old lady (retired school teacher) for $15,000 even, with 50,000 miles on it. Loaded. Née tires and brakes, oil changed every 5,000 miles. It was a steal then and an even bigger steal now. I really was looking for a Lexus GS350 and had several lined up but I just couldn’t turn down this deal. The Lexus’s all had 100,000-115,000 miles on them and were going for $17,000 at the time. The Toyota basically felt, drove and looked like a brand new car.
I wish it was a Lexus, I do, but I drive a ton and I just couldn’t turn down a car in condition like this, or a price like this. I guess I’m more interested in great deals than great cars. Anyway, I already have put 30,000 miles on it since then (now at 80,000). I guess if I had bought the Lexus GS I’d be sitting at 145,000 miles right now and a few years from now be well over 200,000, heading into big ticket repair items (At least I tell myself that as one drives by and I wish I had it). Lol
I have not purchased a used car since 1976 and likely will never buy another before the only driving I am doing is in a motorized wheelchair. I have always bought the best new car that I could afford at the time even if I could have afforded something better or fancier if it was used. I think I was traumatized by used and unreliable cars when I was young. My cars are always well maintained and documented and get a lot of TLC since they have cost me a lot of hard earned money whether I was making $12k a year or over six figures. The confidence in owning a car since new and knowing exactly what has been done with it has always outweighed the cost of new vs. used to me.
Anyone who has ever bought one of my previously owned cars has gotten a good vehicle.
Anyone who has ever bought one of my previously owned cars has gotten a good vehicle.
I bought our '13 GS350 F Sport under CPO. It included 3 services (the 60K service is a biggie on the F Sport) and 2 year bumper to bumper warranty. I had no concerns about the drivetrain, but that dash with all the electronics would be big bucks to get into.
This is a grear car. It is also the only used car I have purchased for wifey and me for the last 15 years or so...
I bought the Tundra used. What a great truck, except it sucks the gas...
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