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

[Anonymous]

Anonymous wrote:

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.

you do, many would disagree

[Anonymous]

If you are planning on having the car for ~ 15 years, buying new or 2 years old over the life of the car will not make a material difference.
the I am in the market for a car - and one of the things I like about new is that you get the latest safety features. If I was living in CA, I would absolutely look at EVs from Hyundai. I think you are not paying the premium you do with Toyota- but get very similar performance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

you do, many would disagree

we bought 2-3 years old to avoid dealer markups on new cars. That is what pushed us over the edge. 7500$ for nothing at all.

[Anonymous]

Don’t think of it in terms of “deals” or you’ll be hoodwinked. Go explore new and used and price them out and see.

[Anonymous]

OP I would wait until you need a major repair, and then buy. I’d buy new, personally, unless the price difference goes back to normal.

I am in a very similar boat to you, and this is my plan. My car has 150k miles and body damage but hasn’t needed major repairs, so it just doesn’t make sense to buy something with the market as it is.

[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.

NP, agree. The popular cars do not depreciate a lot.

[Anonymous]

Anonymous wrote:

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.

That, and also car companies figured out that producing fewer cars and selling them at a higher price is a better business model for them than having tons of all imaginable options on the lot and selling at a discount. Maybe buy a Tesla or ev ford if you are looking for a bargain. You can get a 15k tax break on a Tesla in California. So you would be paying just 25k for model 3

[Anonymous]

Anonymous wrote:

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.

This!
I contemplated the same in 2021 and regretted I didn’t buy in 2020 when the going was good. I am glad I still did then. It’s not getting better.
I bought a Toyota Corolla for $24500 including all taxes and fees. I hear it’s the same price now. I don’t understand the 30k thing. There are cars under 30k.

[Anonymous]

Anonymous wrote:

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.

I read on dcum that you tell them you’ll take any loan of their choosing if they can be flexible on the price and if they make the first payment.

And then you pay in full.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

This!
I contemplated the same in 2021 and regretted I didn’t buy in 2020 when the going was good. I am glad I still did then. It’s not getting better.
I bought a Toyota Corolla for $24500 including all taxes and fees. I hear it’s the same price now. I don’t understand the 30k thing. There are cars under 30k.

Forgot to say I am in CA also. The car was new, 2022 model, but to me it doesn’t matter because I plan to run it into the ground over the course of 10-20 years.
I am not a fan of EVs or hybrids but then I also don’t drive a lot.

[Anonymous]

Pricing flexibility depends on the make and model. We recently purchased an Outback Premium for $1500 under MSRP. Perhaps, Outbacks are in less demand than other cars, but there’s no need to pay above MSRP if you have some flexibility. Late-model used cars are currently not a good deal. You can always email a few dealers and ask for their best price on what you want and see if you can get a deal.

[Anonymous]

Anonymous wrote:

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.

Not really "like a new car". Most people will unload cars just prior to new car warranty exp. Newer Toyotas/Lexus not as bulletproof vs the old ones. Speaking from experience.

[Anonymous]

The way people drive nowadays, I wouldn’t feel bad for driving an older, beater car. Cars are so ridiculously expensive nowadays and one fool making a wrong move can total it. I just traded in a 200k+ vehicle for a certified pre owned one and would have kept the old one if it wasn’t literally falling apart.

[Anonymous]

Anonymous wrote: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!

I just traded in my Prius that had over 200k miles. I hated to do it but it was time. Wanted to get another Prius, but nobody has them on the lot. Ended up getting a Honda.