Is it still worth it to buy a used car?
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Anonymous
| The conventional wisdom is to buy a used car to avoid the depreciation in the first few years. But used inventories seem to be down, new car prices seem to be low, and service is generally included for the first X number of years. Is it still worth it to buy used? |
Anonymous
What's your source for this information? Where have you been searching? I have no problems finding used cars for sale in any make and model within various price ranges. What new cars seem to be low? That's pretty vague. Can you be more specific? |
Anonymous
| Across most brands newer pre-owned and new prices seem to be pretty similar. For example, there's not a huge difference between the prices of used and new Subaru Foresters. Same for Honda FITs. Same for VW Jettas. Given that, wouldn't buying the new car make more sense? |
Anonymous
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Cars are a pretty mature market and prices reflect supply and demand.
Advertising, subsidized financing, manufacturer's incentives and the availability of the latest safety/fun technology make new cars look good. Used cars are better than they have ever been; a three year old Camry is a great car that should give you a decade of trouble-free use. The internet gives you instant access to thousands of cars/prices without leaving your chair. And many people prefer to buy from a private party than the dreaded dealership. Why buy new? Depreciation is an issue, which hits some models a lot more than others. How much would you pay for the difference between a new and 3-year old Camry? Maybe not much! |
Anonymous
Depends on the brand. I looked at Honda Accords and CRVs and I agree there is very little difference in the price for new and newer (2 years old) used cars. You'll see a significant decrease in price for brands/models that are heavily leased. For example, you can get an Infiniti off lease at a substantial discount to the new price. |
Anonymous
| DH bought a Prius last year that was 18 months old. The price was about half the price of a new car and it runs perfectly and came with a dealer warranty. We may never buy new again. He did have to hunt high and low to get it, though. Everytime he saw a used Prius for sale online, he'd call the dealer and it was already sold. He finally downloaded a couple of apps that would alert him the second they came on the market in the area. That's how he found it. |
Anonymous
| PP, can you recommend these apps? We are also looking for a used Prius. |
Anonymous
Half the price? Really?? That's hard to believe. |
Anonymous
| I never buy used. Have always able to buy a car a year or two old for a significantly better price. |
Anonymous
a year or two old is not used?  
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Anonymous
| Wait so what happens to the brand new cars that are not sold say for the past 2 years? Does the price remain unchanged? |
Anonymous
Agree. Impossible to believe actually. |
Anonymous
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Just picked up a Civic EXL for $17k. It is a 2014 with 26,000 miles. I think I got a good deal.
For comparison sake, a 2016 is $23,700. |
Anonymous
Probably talking about unsold dealer stock. Of course, burnt orange, am radio, no power windows or AC is probably what they've got . . . |
Anonymous
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If your husband bought an 18 month Prius at HALF of the price as new, it is probably a salvaged title.
And even then this tale is incredibly hard to believe. |