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Buying a new car vs. buying a used car

Discussion in 'Off Topic [BG]' started by SuperDuck, May 1, 2006.


  1. SuperDuck

    SuperDuck

    Sep 26, 2000
    Wisconsin
    The title sums it up. I would like to hear some pros and cons to each.

    Discuss! :)
     
  2. ric1312

    ric1312 Banned

    Apr 16, 2006
    chicago, IL.
    New, longer warranty With new think about things like resale value, how much the care depreicates, and if anyone would want to buy it when you want to get rid of it.

    Used, if not from dealer: as is you pay for repairs. Never really know what you are getting. Could last you years, could roll off with it and the engine starts going the same day.
     
  3. d8g3jdh

    d8g3jdh Guest

    Aug 9, 2005
    Repairs on used cars can get very high very quick.
     
  4. I'll never buy another new car. Buy lightly used and let someone else take the hit to their wallet!
     
  5. ElephantTalk

    ElephantTalk

    Jan 20, 2005
    Indy
    I'm going through the same thinking right now. :meh:

    Used:
    - Cheaper (insurance, payments, etc)
    - sooner to pay off
    - you don't have to worry too much about depreciation
    - vehicle make and model already has history (you know what is bad or could go bad)
    - you could take the money you saved to modify your car
    - con: higher interest on loan amount
    - con: possibly no warantee
    - con: non-unique

    New:
    - BLING
    - lower loan interest
    - warantee
    - smells fresh
    - con: more expensive
    - con: no history of make (you're going to encounter the problems, if there are any)
    - con: the feeling you get when something happens to your "new car"


    I think it always boils donw to how much money you're looking to spend.
    These days it might be worth it to take advantage of some of the 'new car deals'.

    G/L
     
  6. +1 - buy a slightly used car. As long as you have a good relationship with a mechanic that you trust, have them check it out on your behalf. You lose what? 15% the second you drive a new car off the lot?
     
  7. canopener

    canopener

    Sep 15, 2003
    Isle of Lucy
    I picked up a great '96 Sable with 80k for $2,500 a few months ago. The car had a salvaged title from New Jersey. Now, a used car from NJ should definitely be an automatic turn off, but I decided to look this one over. Turns out, the original owner got into a fender bender and it was "totalled." The engine was solid, tranny shifts smoothly, and the interior and body were clean as hell. Passed PA safety and emissions with flying colors.

    With new cars, do your research. Unless you are heartset on a certain vehicle, compare all similar models. Dealer negotiations depend on the dealer/salesman. You can find good deals, you can be taken for a ride, or you can be ignored outright.
     
  8. canopener

    canopener

    Sep 15, 2003
    Isle of Lucy
    As long as the mechanic you're taking it to isn't the seller's mechanic, too. ;)

    It's always good to know basics of cars/motors even if you're not doing the work yourself. Especially if you buy used. Now, I'm sure you can't go wrong with a "certified" used car, but at those prices, one might make an argument for a new car.
     
  9. jkritchey

    jkritchey

    Jul 23, 2002
    Northern Va.
    I think if you buy used you have to put a lot of time into your research, and then be ready to move quickly when the right deal comes along. You have to know what features you can live with out, and what your price tops out at. Online car listings and tools such as Carfax can be a real help towards educating you.

    HOWEVER -

    I used Carfax extensively when I just replaced my son's car that was totaled in an accident (he's fine, and it wasn't his fault). I probably lost 5 days of productivity at work constantly scanning differnt sites for updates. Found a Honda CR-V that I liked and bought it. Quite a hassle doing a private sale, as you have to have the car checked out, then get certified check, etc...

    Anyways, everything went fine, and I'm happy with my purchase. THEN it occured to me to do a Carfax on the old wrecked car. I had bought it from my Mother, and I knew she had had it rebuilt twice from accidents. Now it been in a third accident.

    And Carfax had NONE of this information. All three accidents had been attended by Police, work performed in franchise dealer body shops. (The kind of info CarFax should catch).

    So, fair warning, do your research, but always doublecheck and verify.

    (For me? I buy new for myself)
     
  10. canopener

    canopener

    Sep 15, 2003
    Isle of Lucy
    I lost out on a similar car in my first post in this thread in a matter of hours. Someone else might be looking for the same thing you are.

    I don't know exactly how CARFAX works but even if it does pick something up, it's a $20-30 well spent.
     
  11. jkritchey

    jkritchey

    Jul 23, 2002
    Northern Va.
    Agreed. You can check things like what state it was titled in and verify the seller's history against it. You can see Milege intervals. (Very helpful) - one car I thought looked great (60,000 miles) had 20,000 miles put on it over it's first 4 years. In year five the second owner put 40,000 on it in one year. :eek: I found that useful to know....
     
  12. Diggler

    Diggler

    Mar 3, 2005
    Western PA
    Once you drive a new car off the lot, it's no longer new.

    CarFax saved my butt on two cars before I found my current ride. Then I ran it on my brother's car, which was involved in a freeway accident where a tire came off the back of a truck and rolled into his fender (at speed) and it came out in CarFax as a multi-vehicle accident involving another car and a bicycle. LOL
     
  13. SuperDuck

    SuperDuck

    Sep 26, 2000
    Wisconsin
    Hmm... good input so far. I'm basically going to be looking for something reliable that I will keep and drive until it is essentially no longer worth any money. That is, buy it and drive it into the ground. The only reason I am not doing that with my current car is that a couple of large repairs are making me question its future reliability. (VW)

    The new vehicle I end up buying will either be a small truck (Colorado, Tacoma), or a car-based SUV (Escape, CR-V, Rav-4).

    I think it will end up coming down to the financing I can get from a dealership. If there are any incentives or stupid-low financing options available, I may go new. If not, a two to three year old car sounds like a good bet, or a Certified Used Car.

    Aargh... so many decisions. Good info so far, keep it coming!
     
  14. New car = Hot Chicks
    :p






    Okay, the advise I had was already posted.
    Hmmm, did anyone mention taxes yet? Sales and excise where it may apply.
     
  15. jkritchey

    jkritchey

    Jul 23, 2002
    Northern Va.
    Well, no regrets here on our used CR-V.

    I'm a Ford guy when buying new, but the best part of a Ford is the first 30,000 miles. The last 30,000 are less enjoyable....

    If you decide on an Escape, make sure it's 2003 or later....
     
  16. mkrtu9

    mkrtu9

    Mar 2, 2006
    Tuscola
    Have bought both new and used, but I did my research on both of them before purchase. So I think no matter what you buy do the research first. It all boils down to the make and model. You could get stung either way.....I hate buying cars.
     
  17. fr0me0

    fr0me0

    Dec 7, 2004
    Winnipeg Canada
    used car is totally rolling the dice. I bought a 91 corolla when I was 17 (i'm 21 now) for 3500 dollars and the only things I changed were the water pump and the clutch. Drove it for over a 100,000 kms and sold it as is for 600 bucks just yesterday. (with alot wrong with it)

    I think I totally got my monies worth.

    My friend bought a talon for 7 grand and in 2 years has put over 3000 dollars in parts into it.
     
  18. burk48237

    burk48237 Supporting Member

    Nov 22, 2004
    Oak Park, MI
    Used Porsche, Hotter Chicks. One of the huge advantages of a used car is you can get way more car then you could new. My last vehicle listed for 36,500 in 97. I bought it used in 98 with 19,500 miles for 20,500! I could have never afforded a vehicle of that quality new. Also because I bought a better vehicle I now have more resale after the initial hit (which is bad for every car). I use to by used BMW's with fairly high millage, it was my contention that a used Bimmer was a better car then most NEW economy vehicles. I paid 12,000 for a used Bimmer (80,000 miles) back in the late eighties. I could have purchased a new Pontiac Sunbird for the same money. I can guarantee you that that Bimmer after 120,000 miles was a better car and worth more then that sunbird would have been with 60,000 miles. It also was probably more reliable and tighter!
     
  19. Mike N

    Mike N Missing the old TB Supporting Member

    Jan 28, 2001
    Spencerport, New York
    Ding!!

    We have a winner!!



    Most dealers have a lot full of year old cars with low miles on them that are great deals, and much cheaper than buying new.
     
  20. Figjam

    Figjam

    Aug 5, 2003
    Boston, MA
    Im a fan of used. Save the pennies for basses.
     

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