Are really always saving money by buying used?

[Anonymous]

Anonymous wrote:I think this is generally a tie or perhaps more accurate, hard to predict but either way the cost savings is not likely going to be very high. The best way to save money on a car purchase is not to buy a luxury car -- shoot for the middle and you will can save in the neighborhood of $20,000.

I disagree. I think the best purchase is s high end used car. I got a 2 year old Range Rover that listed for 110 k new for 75k and an extended warranty to 100k. Good friend got a 3 year old s class Mercedes for 55 percent list price new, with 100k warrranty and ew car financing. That’s a huge savings.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I find it interesting that people who buy their fist new car after owning used cars never go back to buying used cars. It is only people who always buy used car, they keep always buying used cars. It is not necessarily that they can not afford the new at some point, it is just their mentality. They never experienced a new car ownership and they don't know what they are missing.

Not true for us. We had always bought new cars over the years, then when we went shopping for a third fun car which was a totally unnecessary expense, decided to look at used to save some money. A year later when replacing my daily driver we got a year old one with 12K miles that was perfect and saved a ton. Not sure we’ll ever buy new again.

What kind of car was the used one?

The fun one? Mustang GT Premium convertible.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think this is generally a tie or perhaps more accurate, hard to predict but either way the cost savings is not likely going to be very high. The best way to save money on a car purchase is not to buy a luxury car -- shoot for the middle and you will can save in the neighborhood of $20,000.

I disagree. I think the best purchase is s high end used car. I got a 2 year old Range Rover that listed for 110 k new for 75k and an extended warranty to 100k. Good friend got a 3 year old s class Mercedes for 55 percent list price new, with 100k warrranty and ew car financing. That’s a huge savings.

Maybe it is a savings over the new price but if you are paying 75K for a car, you are not saving money.

[Anonymous]

Anonymous wrote:I was looking at used Subarus and found the same thing. I finance my cars and the interest rate was higher for a used car so it was even less savings

Enjoy being a debt slave borrowing money for a car. make sure you get the one you feel socially pressured to get, to impress people you dont know or like.

Nothing drives like debt-free feels. Not even the fanciest Ferrari.

[Anonymous]

We are looking and comparing a lot of this now. Looking at Ford Escape, Hyundai Tucson, etc. Along those lines. Ranging from new to 2016 or so with less than 30,000 miles. New warranty vs certified preowned vs simply used. Some have 0% for 60 mo. for new. I know out credit union comes in at 3.89% for used.

So much to consider.

[Anonymous]

Anonymous wrote:I don’t get rid of a car until it’s dead. Right now my cars are 7, 12, and 20 years old. They were all purchased used and I’ve never had a car payment. I’ve had a few major repairs - nothing over $1000 or so though. Yes, this approach is cheaper than buying new.

Out of curiosity, what kind of cars do you have? I'm in the market for something with long life potential.

[Anonymous]

Anonymous wrote:2.5 years ago I bought a 3 year old Mercedes E350 with 18,000 miles on it for about 60-65% of the original price. They extended the warranty and gave me free maintenance until mid 2020. I paid cash. I now only drive about 6-7,000 miles a year and the last car I owned I drove for 10 years so I will probably keep this another 5 years. It’s hard for me to believe that buying new would have been smarter given the deal I got.

German cars are notorious for tremendous depreciation in the first couple of years.

[Anonymous]

One wrinkle: the introduction and mainstreaming in recent years of new safety and convenience technologies, such as adaptive cruise control, lane keep assist, HUD, automatic collision avoidance, 360 degree cameras, etc. The difference between a new X and its previous design iteration can be dramatic.

Of course, the pace of change is frantic so it's a loser's game to try to keep up.

I have a new German car, but also a 30 year old Saab. I love them both, but the latter -- which was a safety leader in it's day -- feels like a death-trap go-cart by comparison.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I just bought a new car and I'll never do it again. The fees and taxes were already double on the new car. Interest rate is about the same because the Honda offered it's financing on used certified Hondas. Just looked up and could've got the same 3-year old car for ca $15k but just bought new one for ca $24k. Not impressed by having new vs 3-year old and will never do it again.
I have to drive it at least 15 years to make it worth while. My needs might change in year 10.
It probably depends on the car, but will not buy new again. Not to mention how painful it was in the dealership to be nickel and dimed. I think I even cried there from anger.

The problem here is not that you bought a new car but that you don't know how to research, negotiate, and buy a car in the first place. When I walk into the dealership, I know exactly what I'm going to pay because I have already agreed with the dealer via email. The dealer does not get to "nickel and dime" me, and there is no emotion or anger involved.

Empower yourself as a consumer.

My thought exactly. How could a dealer make you cry from anger? I’d have left well before that. There’s tons of dealers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I was looking at used Subarus and found the same thing. I finance my cars and the interest rate was higher for a used car so it was even less savings

Enjoy being a debt slave borrowing money for a car. make sure you get the one you feel socially pressured to get, to impress people you dont know or like.

Nothing drives like debt-free feels. Not even the fanciest Ferrari.

Not true for me. I’d rather have some debt and drive a nice car. Yep.

[Anonymous]

You get what you pay for in cars. If you want a middle range car that’s very reliable (Honda or Toyota) it’s priced higher as used car. They are very easy to sell also
In a luxury car, like any luxury you are paying for the status. You could probably buy used and save some money.
Overall people tend to keep a good car for a long time or sell it very quickly.
Also walking into a dealer without proper prep to buy new is going to cost 10-15% more. And be very aggravating.
The market for cars is very accurate because so many are bought and sold.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don’t get rid of a car until it’s dead. Right now my cars are 7, 12, and 20 years old. They were all purchased used and I’ve never had a car payment. I’ve had a few major repairs - nothing over $1000 or so though. Yes, this approach is cheaper than buying new.

Out of curiosity, what kind of cars do you have? I'm in the market for something with long life potential.

DP who keeps cars for a long time (around 175 - 185,000 miles). My last two cars have been pre-owned Acuras. Both had around 50,000 miles at time of purchase. Only basic maintenance needed for both. I drive around 12,000 miles/year.

[Anonymous]

8 years is an awkward time to sell a car you bought new. Most people sell more by mileage. If your car has 70-80K miles you are having to lower the price and at the same time depriving yourself of 2-3 more stress free no car payment years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think this is generally a tie or perhaps more accurate, hard to predict but either way the cost savings is not likely going to be very high. The best way to save money on a car purchase is not to buy a luxury car -- shoot for the middle and you will can save in the neighborhood of $20,000.

I disagree. I think the best purchase is s high end used car. I got a 2 year old Range Rover that listed for 110 k new for 75k and an extended warranty to 100k. Good friend got a 3 year old s class Mercedes for 55 percent list price new, with 100k warrranty and ew car financing. That’s a huge savings.

I guess but that’s some seriously overpriced luxury.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I just bought a new car and I'll never do it again. The fees and taxes were already double on the new car. Interest rate is about the same because the Honda offered it's financing on used certified Hondas. Just looked up and could've got the same 3-year old car for ca $15k but just bought new one for ca $24k. Not impressed by having new vs 3-year old and will never do it again.
I have to drive it at least 15 years to make it worth while. My needs might change in year 10.
It probably depends on the car, but will not buy new again. Not to mention how painful it was in the dealership to be nickel and dimed. I think I even cried there from anger.

The problem here is not that you bought a new car but that you don't know how to research, negotiate, and buy a car in the first place. When I walk into the dealership, I know exactly what I'm going to pay because I have already agreed with the dealer via email. The dealer does not get to "nickel and dime" me, and there is no emotion or anger involved.

Empower yourself as a consumer.

My thought exactly. How could a dealer make you cry from anger? I’d have left well before that. There’s tons of dealers.

We went to drive a car and not buy a car. Damn husband left me to go pick up the kid. I should've caught an Uber home and left them there. Will not buy another car as long as I can help it. My sister's car payment doesn't match the original amount, 0% and years of financing. she doesn't even want to look at the paper to see what they put in there.
Mine was $50 because they added some kind of warranty I declined several times.