Comments on: New Car or Used Car: A Reader Debates Which Is The Smarter Purchase

By: DelCid

DelCid — Thu, 01 Jan 1970 00:00:00 +0000

Depreciation should always be factored into the equation. Consumers planning to keep a car for fewer than five years will likely get a better value buying a used car from a recent model year, which already has that initial depreciation built into the price. But if you plan on hanging onto the car for at least five years, it’s alright to go for that temptingly priced new car. The price of a car that’s more than five model years old is largely determined by its condition, rather than the initial selling price.

By: Car Dude

Car Dude — Thu, 01 Jan 1970 00:00:00 +0000

For me, buying a new car is much better since all the parts are fresh and are less prone to get broken.

By: used car

used car — Thu, 01 Jan 1970 00:00:00 +0000

Hi,

This blog can make people sure that which car should they buy according their financial conditions.Really great post………..

By: Laura

Laura — Thu, 01 Jan 1970 00:00:00 +0000

Great article! I personally go with the used route. CarFax and traveling car mechanics help reduce the chances of getting a lemon.

By: Abby

Abby — Thu, 01 Jan 1970 00:00:00 +0000

Due to the untimely demise of my vehicle this summer, I recently purchased a car. I was looking for a 3-ish years old small, fuel-efficient vehicle. The resale value of these vehicles was quite high this summer, though. There was very little difference between the price of a new and a lightly used car. Purchase incentives available for new cars made this difference almost disappear. While in general I agree with the mantra “Buying used makes financial sense,” that wasn’t true for my purchase this summer. I think it’s important for anyone looking at such a major purchase to fully investigate their individual situation when weighing the pros and cons. The used/new question doesn’t have one answer that applies to everyone all the time.

By: Joshua

Joshua — Thu, 01 Jan 1970 00:00:00 +0000

You make it sound like a used car will have manual steering, manual windows, no airbags, and a cassette player. Are you buying an antique or just something 3 years old? When think of the ole days in 2005, I still remember airbags…

By: Slinky

Slinky — Thu, 01 Jan 1970 00:00:00 +0000

I just picked up my new Scion tC on Tuesday. Main reasons for going new instead of used:
– 4 used, only 1 standard in my area
– Used prices were pretty comparable
– Reliability in bad neighborhoods
– No unknown history
– I’m keeping it for 10+ years anyway
– I really can afford it

By: M

Thu, 01 Jan 1970 00:00:00 +0000

One compromise may be to buy a “floor model.” I have no idea if this is still in practice at the dealerships though. My car is over ten years old. It took a bit of time, but we found a dealership that had a test-drive model that they couldn’t sell as brand new. I still got the warranty and a practically new car without the depreciation hit.

By: Andy

Andy — Thu, 01 Jan 1970 00:00:00 +0000

Great post and some great comments. Kust a quick note to let you know it was included as an editors pick in the 28th edition of the money hacks carnival I hosted this week.

By: threadbndr (karla)

threadbndr (karla) — Thu, 01 Jan 1970 00:00:00 +0000

I refuse to take the depreciation hit on a new car. But I do understand the points re safety, security, etc. So what I do is buy dealer models or program cars before the end of the model year. Usually 15-25K in mileage, sometimes a bit less, not even one year old, still under warranty.

It’s the best of both worlds. I’ve loved my last two cars.