When will it be a good time to buy a car???

[Anonymous]

My 2008 Prius just hit 150k miles and I really need a new car. I keep holding out, but it’s getting embarrassing driving this thing around (body damage from hit and runs, don’t want to repair thousands for bumpers). How much longer do I have to wait? I’m hoping to buy something 3-4 years old and they’re all 30k which is absurd!! I’m in California.

Do I just buy now or wait for a recession? I’m grateful my car gets me from A to B and is paid off, but would love something a little nicer, and not 15 years old!

Thank you in advance!

[Anonymous]

Other than body damage what’s wrong with it?

[Anonymous]

If you need a car you buy one now.

[Anonymous]

Why would you buy a 3-4 year old one when you can get a new one for $30k? Just buy a new one unless you really really can’t afford it, but in the long run buying new will be more cost effective if you drive it into the ground.

[Anonymous]

Anonymous wrote:Why would you buy a 3-4 year old one when you can get a new one for $30k? Just buy a new one unless you really really can’t afford it, but in the long run buying new will be more cost effective if you drive it into the ground.

Op here- I know nothing about cars. I bought my Prius in 2010 and have been driving it ever since. Previous car I drove for 10 years. Is there a lot of extra fees and taxes for buying new? I always heard it was better to buy used, but right now maybe that’s not true? Please don’t flame me, I have only owned two cars. The first one my parents bought me and the Prius I way overpayed at a dealer. Right now there’s no deals on new, right?

Thank you so much!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why would you buy a 3-4 year old one when you can get a new one for $30k? Just buy a new one unless you really really can’t afford it, but in the long run buying new will be more cost effective if you drive it into the ground.

Op here- I know nothing about cars. I bought my Prius in 2010 and have been driving it ever since. Previous car I drove for 10 years. Is there a lot of extra fees and taxes for buying new? I always heard it was better to buy used, but right now maybe that’s not true? Please don’t flame me, I have only owned two cars. The first one my parents bought me and the Prius I way overpayed at a dealer. Right now there’s no deals on new, right?

Thank you so much!

New cars tend to have better finance rates and manufacturer incentives. Any difference in taxes or fees is based on the value of the car, not new vs. used- i.e a 70k used car would have more taxes than a 35k new car. Right now, the prices of new vs used are close enough that new makes sense if you plan on financing

[Anonymous]

Op again - Thank you! I plan to pay cash for the car. I don’t want to finance. Is it better to not disclose this up front?

[Anonymous]

Used cars won’t save you as much on the purchase price as they used to and sometimes the financing is better on new cars.

I don’t know about California, but the tags on new cars where I live are really high and drop off after maybe 5 years.

[Anonymous]

Back to OP’s original question, will the market be normal anytime soon? My car is also ancient and embarrassing (a dinged up ‘07 I’ve had since college). I can afford something new, but I’d rather not throw money down the drain.

[Anonymous]

Market is still tight. Not as bad as last year but not like before Covid days.

[Anonymous]

Let me get my crystal ball out....



Sources say 2027.

[Anonymous]

Anonymous wrote:Op again - Thank you! I plan to pay cash for the car. I don’t want to finance. Is it better to not disclose this up front?

Yes.

[Anonymous]

Anonymous wrote:Market is still tight. Not as bad as last year but not like before Covid days.

The market will not return back to pre-covid days. This is the new norm due to inflation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why would you buy a 3-4 year old one when you can get a new one for $30k? Just buy a new one unless you really really can’t afford it, but in the long run buying new will be more cost effective if you drive it into the ground.

Op here- I know nothing about cars. I bought my Prius in 2010 and have been driving it ever since. Previous car I drove for 10 years. Is there a lot of extra fees and taxes for buying new? I always heard it was better to buy used, but right now maybe that’s not true? Please don’t flame me, I have only owned two cars. The first one my parents bought me and the Prius I way overpayed at a dealer. Right now there’s no deals on new, right?

Thank you so much!

New cars tend to have better finance rates and manufacturer incentives. Any difference in taxes or fees is based on the value of the car, not new vs. used- i.e a 70k used car would have more taxes than a 35k new car. Right now, the prices of new vs used are close enough that new makes sense if you plan on financing

I disagree. Buying a 2-3 year old used car is cheaper almost all the time.
I just purchased a 2020 Rav 4 with 25k miles for $23k. The 2023 brand new model with similar option at the dealership was $32k
That's $9k difference. To me this is worth it. The 2020 model with just 25k miles is like a new car. It's a toyota and I can keep it for 20 years.

[Anonymous]

It seems if you can find a used car with upgrades you couldn’t afford on a new car, that has some advantage. IF you prefer this upgrades ( better seats, extra safety features, whatever- not the the mats and mud flaps).
If used is an advantage for you, and you don’t have to buy this minute, keep scanning local ads until you find what you want.

I’m not sure whether to keep repairing an old Outback or not. And not sure how I want to replace it.