I've never owned a brand new car

[MidwestMomma]

All the cars I've ever owned were previously owned. Usually by family members who were trading up and would give me a good deal on their old car cause I'm so likable and all.

The first car I bought from a dealer a few years ago was even a used car.

So anyway, my latest used car is starting fall apart and I'm tempted to buy a brand new car but I can't talk myself into it.

If I can afford the payments, should I go for it or stick to my life long trend of used car purchases only?

(Oh and I'm not talking about buying a Mercedes or anything. Something like a Hyundai Elantra or something in that price range.)

So please give me some pros and cons about new vs used if you have the time or inclination. Thanks

[Jack_Dawson]

1. Financially speaking...you are smart

But that new car smell...gotta love it. :toast:

[MidwestMomma]

4. That new car smell

Sigh...I imagine it would be wonderful. :)

[amazona]

8. you know they sell that smell in a can!

I don't have the link any more but you can buy that smell. It comes in a spray can like any other commercially produced smell. You can probably google it!

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72

[Jack_Dawson]

10. It ain't the same. You know it, I know it...

and Midwest Momma knowz it.

[Shopaholic]

2. I drive a car until the wheels fall off-----

I've brought three cars in my life and only 1 was new--I had more trouble with that new car than the other two combined! Both my "used" cars were barely used. One had maybe 5000 miles on it, and the other had about 10K. The second you drive a new car off the lot it depreciates in value. And you can often get great deals on barely used cars-that's what I'll do when it's time to buy again.

[MidwestMomma]

11. That sounds like me

I always drive the crap out of a car before I get rid of it. Usually by the time I'm done, I can only sell it for scrap. :)

My luck, if I bought a new car, it would be the one lemon on the lot.

I know someone selling a 1999 Pontiac Grand Am with 44,000 miles on it for around 5500.00. It's the dad of a friend of my daughter who is selling it. My daughter says they take excellent care of their cars so I might just buy it.

I thought that sounded like a good deal. That's actually why I started thinking about a new car because if I thinking it was time to get another car.

[msgadget]

29. Same here.

But, this time - I swear - I'm not going to do that. I'm going to have something worth trading or selling...if I can part with the car. That's the thing, I love my cars more with each passing year. When I'm done with them, they're done. Completely. :shrug:

[Swede]

3. Buy a one year old car.

The first owner took the hit on the big depreciation when it left the lot,and you'll get some warranty with it.

[MidwestMomma]

14. I will check that out.

Some warranty would be nice. Thanks.

[MidwestMomma]

15. I will check that out.

Some warranty would be nice. Thanks.

[Swede]

20. Just do some homework before you walk onto the lot.

Try get a good idea of the price of the car to avoid being taken advantage of.

[NEDem]

5. If you can find one

find something with really low miles that is a year or 2 old, you'll be ahead financially because the depreciation hit you'll take after driving that new car off the lot is huge. The economy cars don't hold their value anyway so buying one new doesn't make sense.

I always buy cars that are a year or 2 old with low miles, and I've been quite happy.

[amazona]

6. count yourself lucky!

Once I made the new car mistake. Never again. Let someone else have the break-in, the depreciation costs, and also the extra insurance costs. I'll stick with my used Toyota. It isn't just the car itself is cheaper. It's that you don't have to buy comprehensive coverage, just the liability. It's that you don't have to fight with a dealer and the stupid dealer warranty when something goes wrong but you can actually visit an HONEST mechanic. And if some jerkwad happens to rear end and total your car, it doesn't break your heart quite so much. Also, no stressing in the parking lot or when driving. When people see you coming in a new car, they know they don't have to get out of your way. When they see me coming in my old bad paint job car, they clear the road!

I'll never go back to new cars, not if I win a million dollars.

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72

[gater]

12. Have you ever seen the mark-up on used cars.

In the car biz, we make a killing on used. It supports new car sales at most stores!!! It's called "ripping your head off", or "clubbing you like a baby seal!" Depreciation is artificial so we can steal your trade, and make a mint when we sell it! That is reality...and it SUCKS!!

[amazona]

18. yes but I don't trade

I have very much observed what you describe happen to friends, so you have an excellent point.

I have no trade to steal since I drive my cars until they drop -- 180K miles. In fact, the last one we got to 180K miles we then turned around and sold privately as it still actually held some value, since it was a Honda and in great shape for its age.

Not having to buy comprehensive auto coverage, a recurring expense, is a great savings that comes only when you buy an inexpensive used car.

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72

[gater]

26. I root for you every day at work. It is changing...

but the biz still sucks. I have been able to institute change though, but only after ownership has seen the writing on the wall. As a consumer, you are finally being recognized as the most important puzzle piece in putting a car deal together. If you can't tell, I do not work directly in sales, but see "the floor" all day and could tell you stories that would scare your great-great grandchildren...who ain't even been thought of yet!!!

[MidwestMomma]

28. My great-great grand children who ain't been thought of yet...

thank you for the changes you've been able to make. Keep up the good work.

I just know the salesman were all laughing at me and giving each other high-5's after I bought my used car at the dealer last time. :)

[MidwestMomma]

19. I hadn't though about having to use the dealer mechanics

I have a great honest mechanic that I would hate not being able to go to if something went wrong.

You bring up a lot of other good points too. Especially about stressing in parking lots and stuff.

Thanks for you input. I especially like the part about how people get out of your way when they see you in your old bad paint job car...I can relate. :)

[gater]

7. Buy new...but last years model w/ big rebates.

And if you have a good credit history, you can get a really low rate. Hyundais have a great warranty, and are almost on a par with the Pac Rim Big Three in quality. Plan on paying it off though, as it's the only way to get around depreciation. When you trade and still owe, it gets really ugly really fast.
By the way, I have been working for a huge dealer for nine years, and right now is the time to do this. It is so slow for dealers that it really is a buyers market, and they need the business. Also, go about an hour before they close. Car people will do stupid things to get home on time. I have seen it often!

[Pithlet]

13. Yep. That's what I do. I'm a new car junkie.

You can get good deals because they want to move them off the lot to make room for the new stuff. I got a good deal on my Subaru last year doing that.

To the OP: If you can't bring yourself to buy new, there's nothing wrong with that. I've heard buying used, but low mileage/late model is the best way to go financially.

[MidwestMomma]

23. Thanks for the advice

If I decide to buy from a dealer, I'm going to go an hour before they close and see how that works. :)

But to tell you the truth, I am not much good at the whole dealer thing. I'm not a very good negogiator. :(

[GOPisEvil]

9. I get deals from my family, too. But I did buy one brand new car.

I doubt I'll ever buy a brand new car again. I think I will buy a certified used vehicle when the time comes.

[MidwestMomma]

30. Certified used sounds like a good deal to me too

They seem to cost more but it's probably worth it.

The only real attraction to me of a new car is that it seems you would have a few solid years of no major car repairs. It really sucks if you buy a used car on credit and then have to pay for car repairs while you are still making payments on the car.

[bigwillq]

16. me neither. I've only owned one car in my entire life

The 2000 Nissan Sentra that I currently drive.

[Kire]

17. Buy a new Rolls and a Bentley.

I hear there's a Porn producer that will loan you eight and half million dollars to do that and a bunch of other things...oh, wait, your name's not Michael Jackson, is it.

[NJCher]

21. one approach

I have a friend who has a rather interesting philosophy about buying cars. Right--never buy new. This friend, who is a mathematician, researches what cars have the highest warranty labor rate. This is a figure used by the car companies and it basically tells you how much in repairs the car manufacturer has to pay out while the car is under warranty. The higher the rate, the more trouble and expensive the car is to own. So what you want is the lowest warranty labor rate cars.

He keeps a list of the cars with the lowest warranty labor rate and then he constantly shops for cars from that list. He drives them about 10k miles and then sells. Consequently he is always in a fairly late model car with low maintenance expenses.

Hey, it's not my thing (it would drive me bats to be constantly shopping for cars) but it is an interesting, intelligent approach to the vehicle issue.


Cher

[blue neen]

22. I'm a new car junkie!

I can honestly say that we've had really good luck with all the new ones that we've bought. We wait until they are paid off before we buy another one so that we don't get stuck in THAT treadmill.

The only trouble we've ever had was with a transmission that went out. The car was still under warranty so they replaced the tranny at no cost to us! In fact, that's one of the things I like about buying new, the warranty.

Sometimes insurance costs can actually be a little bit lower because of safety features, anti-theft devices, etc. It depends on the make and model. You definitely want to check out insurance rates on ANY vehicle before you purchase it.

There are some fantastic rebates out there right now and also low financing. Financing rates are always higher on used cars. It's more of an implied risk.

Good luck with your search. :) :)

[Sgent]

24. Just because its used

doesn't mean you shouldn't carry comprehensive coverage.

If you have a 2 year old car worth 15K blue book, not carring comprehensive could be a real problem.

[blue neen]

25. Yeah, we always carry liability and comp.

My husband works for an insurance company so he knows the dangers!

[billbuckhead]

31. It kind of depends on what kind of car you want.

The more ubiquitous the car, the bigger the savings on a used one. The harder a car is to buy, the more it commands used. Hondas, Mustangs, most VW's, most Chevy trucks, Jeeps, Maximas, Scions, Hemis, diesel trucks, are probably better bought new. Ford cars and trucks, Mitsubishis, 5 speed cars, minivans, fleet type vehicles like Taurus, Stratus and Malibu are among the hardest depreciators and are usually better bought used.

[jocal]

27. Go with USED -- NO QUESTOIN

Buy whatever you can afford with CASH on hand. No Payments!! If you have $400 in the bank, buy a $400 car.

This is how I see it:
The average car payment in the US is $375 a month. If you can take that amount and put it every month for thirty years into an average performing mutual fund, you will have (are you ready for this, are your ready for this):

$4.2 Million

:wow: :wow: :wow: :wow: :wow: :wow: :wow: :wow: