Is it worth purchasing a new car?

amother

Tue, Apr 27 2021, 7:57 am

I've always had hand-me-down cars, always in need of some repair or another. Never a smooth ride. Often in near-accident situations because of sub-optimal tires and brakes etc.

I'm dreaming of purchasing a new car. I have the money for it now.

Is it worth purchasing a new car? What's some advice you have for someone contemplating the purchase of a new car?

tichellady

Tue, Apr 27 2021, 8:03 am

Buy a certified used car or a used car that’s relatively new and doesn’t have many miles on it ( like one that was used for two years and is now for sale). More bang for your buck. I recommend Toyota or Honda

amother

Orchid

Tue, Apr 27 2021, 8:11 am

We bought a one yr used car 10 years ago.
Bh had zero issues until this year. We spend a bit of money to fix it now but still felt it made sense financially. Hoping we get at least another 5 years out of it.

Amarante

Tue, Apr 27 2021, 8:16 am

Research thoroughly and visit dealers. Get a reliable well reviewed brand. Don’t be bakboozled by salespeople playing games.

There is actually no reason not to buy a new car if you plan to keep it for many years. I buy new cars and typically keep them for more than ten years. I like knowing exactly how the car was maintained. Also the price differential isn’t that much since a good used car with low mileage is not cheap and prices for used cars are very high since the pandemic.

Honestly you can’t go wrong with a Toyota or a Honda as they consistently are the most well reviewed and trouble free in the mid range price. You might pay a bit more but if you intend to keep your car for a long time it pays in the long run. You might do well just Internet sales department to get the best prices. You can go to the websites and build your car to see what is available.

Buying a Honda is actually simpler than buying a Toyota because Toyota has a lot of different packages so if you want x you also need to get other stuff you may not want. Honda has fewer different packages so it’s simpler. You can get what you want from a Honda but you won’t necessarily get the red upholstery for example because thst only comes if you get something else.

meme6

Tue, Apr 27 2021, 8:20 am

My husband bought a used car and his brother at the same time me and my sil both feel a new car is a better option. The mechanic has made good money off of them and they spend so much time there it’s not worth it

amother

Pink

Tue, Apr 27 2021, 8:24 am

With used cars being so expensive now you're not saving much. If you can afford it there's no reason not to. If you can't afford it go used but main thing keep mileage low, certified, no accidents, 1 personal owner.

amother

Fuchsia

Tue, Apr 27 2021, 8:27 am

Short answer is
Financially - no

The reason is that the price for a new car includes the fact that you are the first owner. Drive off that lot and the car depreciates by $6000 approximately.

You can purchase a one year old vehicle for significantly less and still have that peace of mind that a new vehicle brings. As long as you buy from a reputable dealer who services their vehicles you should not have any issues other than basic maintenance on that vehicle.

All dealers tack on all kinds of ridiculous bogus fees. They advertise one price and keep you sitting there for hours and then slowly throw on a million fees and you just want to get out so you sign it.

Op if you are in the Tristate area I would recommend calling Jewish dealers. I would specifically recommend Icar auto sales.

They don’t tack on any fees. The price they told us was always the price we paid
I’ve bought a few vehicles from them over the years. Never had an issue... they’re honest and they only have quality vehicles

amother

Pink

Tue, Apr 27 2021, 8:39 am

amother [ Fuchsia ] wrote:

This is no longer true one. The used market is very competitive at the moment.It's more like 4k cheaper for a year old car. Which is the cost of using the car for a year, the 12k or so miles and wear and tear.

amother

Fuchsia

Tue, Apr 27 2021, 8:53 am

amother [ Pink ] wrote:

It’s definitely true. Right now there’s a shortage of cars across the world due to a chip shortage. New cars are very pricey now too and so are used car. It’s a temp situation that will pass in the next few months.

And the used cars I am seeing are def more than only 4K cheaper than new.

amother

Tan

Tue, Apr 27 2021, 8:55 am

If you are buying a new car don't buy it if they just radically changed it. For example Ford changed their 12 passenger van very radically in 2015 so most people know to stay away form 2015 Ford 12 passenger vans.

amother

Pink

Tue, Apr 27 2021, 9:03 am

amother [ Fuchsia ] wrote:

I just bought a van and have done extensive research. A new oddesey is about 35k and a 1 year old oddesey 31k. Give or take a few. Look it up for yourself. A 2018 is about 28k but then you have 3 years on the car and about 30k miles.

Cars are more expensive now so if you can wait it may be worthwhile. Otoh there's no telling if /when they prices will go down.

amother

Seagreen

Tue, Apr 27 2021, 9:04 am

I was recently in the same situation and did a lot of research! (Thanks Amarante! And others)
I bought a new car.
Something to think about is that the price depreciation everyone is talking about is off the MSRP. We BH got a good rebate and so the price didn't actually drop off what we paid for it.

Amarante

Tue, Apr 27 2021, 9:49 am

Even before the pandemic drove the price of used cars up, buying a used car never made sense for me in my situation.

Since I don't get a new car frequently the depreciation that occurs in the first year is meaningless by the time I am ready to buy a new car after more than ten years. I replaced my car in 2017 (November) and the car I was replacing was 15 years old. It had been reliable for many years with standard maintenance and a few items that made sense to fix to keep it on the road.

When I checked used car prices for makes and models I was considering, the price differential made o sense because they were selling cars with 20,000 to 30,000 miles for only a few thousand dollars less. Just not worth it.

Also the best most reliable brands like Honda, Toyota, Lexus are the most expensive used cars to buy anyway because they retain their value especially after five or so years when reliability really starts to show.

If you are looking for a beater as a second car to run errands around town, maybe a used car makes sense. But if you are buying a car you intend to keep for as long as it is reliable, a new car - at least in my opinion - makes sense.