What will your next car be?

[disneysteve]

Originally Posted by LivingAlmostLarge

I hear that statement often that people will say used cars depreciate 30% in the first year. Yet, when asked what used cars they buy I find it to be more American cars. Not many people buy a used 1-2 year toyota or honda with that much of a depreciation hit.

You are right. That's why I said new cars depreciate "up to 30%" in the first year. My current car is a 1998 Camry. I bought it in August 1998 as a dealer demo with 11K. I paid about $4,000 less than a new one would have cost at the time, so roughly 20%, maybe a little less than that depending on what kind of deal I could have gotten on the new one. Still a nice discount, though.

[Gruntina]

I still think it's cheaper to to get a reasonalbe new car at 0% fianancing if you do not get extended warranties, GAP protection and the like than buying a used 1-3 year old car on a interest loan. I understand that not all are qualified for the 0% financing and not all are eligible.

You can still buy a brand new car that is older than one year since not all cars sell out the first year.

Used car older than 3 years is cheaper than new cars, but my luck I just seems to pick used cars that don’t last long or need tremendous repairs.

I have bought 6 used cars since I was 21. I am only 30 now so I am thinking maybe in the long run; used cars are not always the best way to go. I am into looking for more simplicity with my day to day lifestyle and I am tired of cars breaking down often. I am also tired from having to spend so much time searching and buying cars frequently. I live in the city and I have much difficulty trying to contact the tow truck when I have to use a relay service to make calls (deaf here for those who does not know). I just seem to want a break here.

[Ima saver]

Gruntina, I agree with you. I live in the boondocks and we need reliable transportation. I have always bought new cars. we bought a new bronco in 1987 and finally gave it to someone who needed a car in 1998. Then we bought a new camero for less than $20,000 and traded it in 7 years for $7000.

My next car wil always be a sports car. No "old lady" cars for me!!

[disneysteve]

Originally Posted by Ima saver

we need reliable transportation. I have always bought new cars.

Keep in mind that new car does not automatically equal reliable and used car does not automatically equal trouble. I know plenty of people who have had all kinds of trouble with new cars. In fact, our last new car purchase was a 1996 Dodge Grand Caravan. It was just fine until it burst into flames in our driveway one day due to a manufacturing flaw.

On the other hand, my used Camry and our used Sienna have been trouble free.

[vsjhoc]

Originally Posted by tinapbeana

unless you're doing it for the new car smell, in which case you can buy that in an airfreshener

I have often thought that they should bottle the new car smell, and then I can wear it as perfume ... should attract more men than the expensive stuff!

[disneysteve]

Originally Posted by Gruntina

I still think it's cheaper to to get a reasonalbe new car at 0% fianancing... than buying a used 1-3 year old car on a interest loan.

This is true. You do need to factor in how you are paying for the car.

Ideally, though, you shouldn't finance car purchases (except for very low interest rate deals).

[JoyJoy]

Originally Posted by Broken Arrow

I'm thinking of this:



Knowing my luck though, I'll probably end up with this:

LOL!! Now that's cute!

We're thinking on the lines of a Buick LeSabre as our next car.

[Lemony]

Hey LAL,

our next car will be a hybrid (or electric if they bring it back! ) At this point used hybrids are going for almost the same price as new, so in terms of loss it's not a killer investment like other cars would be.

[Ima saver]

My next car will be a vette, I am almost sure of it!

[Broken Arrow]

Ima, do you guys need a chauffer? Just wondering because, you know, I'm looking for a second job and all that....

[MonkeyMama]

Originally Posted by disneysteve

Keep in mind that new car does not automatically equal reliable and used car does not automatically equal trouble. I know plenty of people who have had all kinds of trouble with new cars. In fact, our last new car purchase was a 1996 Dodge Grand Caravan. It was just fine until it burst into flames in our driveway one day due to a manufacturing flaw.

On the other hand, my used Camry and our used Sienna have been trouble free.

Good Point.

Most of the lemons I have seen have been new cars. This is why I like buying used too. Generally if there is a serious flaw with the car itself (bad off the assembly line), it will usually come out before we would buy it used.

Plus to me you just can't beat all the crash test data and reviews of people who drive the car to the ground once it has been out a year or a few years. I try to only drive cars that generally last 200k+ miles. It is hard to tell when a car is brand new - even the great makes/models have some years with issues. I like to sit and wait, and gather knowledge on what is the safest, most reliable, long lasting car. It is hard to do that when you buy brand new.

Buying used has its risks too, but if you are smart about it and careful the new/used tradeoff is not a huge deal. The last 2 used cars we bought were well under warranty. & the ones we bought pretty ancient cost us pennies on the dollar of new. If there were problems, it wouldn't have been a huge loss.

[disneysteve]

Originally Posted by MonkeyMama

the ones we bought pretty ancient cost us pennies on the dollar of new. If there were problems, it wouldn't have been a huge loss.

I used to know a guy who would buy a car every 6 months. He would never pay more than $1,000. During the time he owned the car, he would detail it and do minor repairs, mostly cosmetic stuff. Then he would sell it for the same or even a little more than he paid for it and buy another one. So he basically drove a car for free for years.