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I'd like to get some voices on this matter.
After owning many used cars and a couple of new, I still have a hard time deciding which is best.
With the used cars you are usually not in debt and can get car of arguably higher quality for a lower price. They will often stay close to the price purchased if you decide to re-sell.
However you will need to work on the car or take it to the shop to replaced old bits here and there which consumes money and perhaps more importantly time.
New cars require a higher cash outlay and have warranties. Unfortunately you may not be able to buy the car you wish due to the initial cost. New cars will also get old and need work eventually. You also have to deal with rapid depreciation not found in older, often desirable cars.
So which is it for you?
 

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Depends on lots of factors...I'd rather have a 2 year old Toyota Tacoma that was well maintained with an extended warranty from a used Toyota dealer b/c its solid and a little cheap than a new one...but it really is a case by case or car by car individual situation
 

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Re: New or used? (Tom Bombadill)

Hard for me to say. I've never owned a used car.
I think it depends on the situation and the car in question. A used Toyota would be a smarter buy than a new Yugo.



Modified by MEIN_VW at 3:14 PM 1-8-2004
 

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Re: (MoochsMalibu)

Used. Sticker on my car was ~$20k. I got it for $12k less than 2 yrs later. Granted, it was a relatively unloved car so the initial depreciation was greater but it's still a good example.
New would work for me too as I will more than likely drive any car till it dies and would have it paid off well before that.
 

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Re: New or used? (Tom Bombadill)

I bought a used Subaru and have had no problems. Why take a hit buying a brand new car? Just so you could break it in?
If your going to by a daily driver or a commuter car I don't see any reason in buying it brand new. Wait a year and the price drops dramatically. Cars are not an investment and depreciation shows how much you can save buying a late model used car. Research the vehicle history and get a mechanic or someone who is car firendly to take a look at the car.
 

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Re: New or used? (Tom Bombadill)

I like BMW 5-series cars. A new 545i is nearly double my annual income. My '91 535i was less than $5k. There's my answer.

Really, it enables me to drive things I could never afford to drive new. The problem is, I'm so spoiled from my last few cars that I would hate driving anything that's available in my semi-realistic 'new' price range (under 20k)
 

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Re: New or used? (ArmenB)

it depends...
1. my financial situation
2. how i intend on using the car (work, toy, beater...)
3. if the seller of the car is offering a smoking deal
4. how long i plan on keeping the car
5. resale value
 
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