Are you better off buying a brand new car or used with low mileage?

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asked Aug 18, 2016 in Living by admin (21,720 points)

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23 Answers

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answered Aug 18, 2016 by Anonymous (2,293,500 points)
used, and if its within your ability to fix it, go ahead and get it. parts these days are dirt cheap, even better from those you-pull-it places if you bring your own tools. you can even get those manuals that tell you step by step how to fix your car, or better yet, the internet is a treasure trove for car repairs.
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answered Aug 18, 2016 by Anonymous (2,293,500 points)
A used car is always cheaper. You lose about 25% value as soon as you drive off the lot.

You also need to consider the carbon footprint of new vs. used. There are a lot of new and fancy bells and whistles and they probably get better mileage, but sticking with an old car until it truly dies saves a lot of good resources.

I went to a half price sale at the local St. Vinnies car lot and got a nice 87 Toyota Tercel for $400 five years ago that still runs good and gets good mileage and I haven't had to do any work on it at all. 190,000 miles now and running strong.

If you amortize the cost of the car the fuel tires etc. and all of the maintenance I can get around for about 6 cents /mile. I bet not too many can beat that.
0 votes
answered Aug 18, 2016 by Anonymous (2,293,500 points)
If one can afford the insurance, a NEW car will always be the best choice. The warranty makes it a no brainer.
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answered Aug 18, 2016 by Anonymous (2,293,500 points)
That's why I built my car
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answered Aug 18, 2016 by Anonymous (2,293,500 points)
Exactly. That is why new cars tend to be a waste of money.
0 votes
answered Aug 18, 2016 by Anonymous (2,293,500 points)
The second you drive off the lot a new car loses like all of its value.
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answered Aug 18, 2016 by Anonymous (2,293,500 points)
My used car has pretty good mileage.
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answered Aug 18, 2016 by Anonymous (2,293,500 points)
Mileage isnt that important if youve got mechanical skills
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answered Aug 18, 2016 by Anonymous (2,293,500 points)
9 out of 10 this is a better deal ... do get it checked out thoroughly by a trusted mechanic, though and never, never never let yourself be sold on an 'extended warranty' administered by a third party
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answered Aug 18, 2016 by Anonymous (2,293,500 points)
It's your decision. I bought a clunker of a '91 Oldsmobile Delta Royale 12 years ago for $200. The engine was shot, but the body and interior were immaculate. I had a rebuilt engine installed for $1,100, and I've been driving it ever since.

olds
0 votes
answered Aug 18, 2016 by Anonymous (2,293,500 points)
New cars depreciate too fast.
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answered Aug 18, 2016 by Anonymous (2,293,500 points)
If you can find a used car with low mileage it's pretty good. It's a good rule of thumb though not to buy any vehicle more than 10 years old. Also when I am buying used I always get a loan through the bank and not through the dealership. The bank is a lot more forgiving to your credit if you bought a Lemon, and have to sell it off for another vehicle.
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answered Aug 18, 2016 by Anonymous (2,293,500 points)
It's difficult to justify new car prices.
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answered Aug 18, 2016 by Anonymous (2,293,500 points)
I always bought new cars which I would research first. Just because a used car has low mileage does not mean it has quality parts or will not need expensive repairs.
0 votes
answered Aug 18, 2016 by Anonymous (2,293,500 points)
Depends. When I worked, I bought new cars, took good care of them and drove the wheels off them. So, if you intend to keep it a long time, new is good. On the other hand, a good used car is less expensive as the depreciation hit was taken by someone else. And yes, research your cars first but, a good used car can last a long time to. My 98 Tahoe (last new car I bought) looks and runs great as does my 2003 minivan (bought used in 05).
0 votes
answered Aug 18, 2016 by Anonymous (2,293,500 points)
You could have paid $14k for it a year later and only given up a few thousand miles.

I do this math for a living. I'm in finance.

You still got a good deal, no question, but new or used is financially not debatable.
0 votes
answered Aug 18, 2016 by Anonymous (2,293,500 points)
again... the buyer of a new car only loses money if he sells it...i bought a new dodge 4x4 truck back in 1995...I paid $18,665 out the door ... had it for 18 years sold it for $5,900 ... I got my money's worth
0 votes
answered Aug 18, 2016 by Anonymous (2,293,500 points)
the car I'm driving now cost $45k new. I got it for $23k used at 30,000 miles.
The original owner paid $0.90 cents per mile to drive it until he sold ($45k-$23k = $27k/30k miles). I will drive it 170,000 miles (to 200k) which means I will pay $0.13 cents per mile. Even with investing in some items, I'm way ahead.

Even if we look at that same $45k over 200k miiles, that is $0.22 cents per mile.

There is an incredible amount of markup added to a new car that disappears once used. No matter how long you keep it you could have saved this mark up amount.
0 votes
answered Aug 18, 2016 by Anonymous (2,293,500 points)
it only loses its value ... if you plan on selling it... why buy a new car that you plan on selling in the first couple of years
0 votes
answered Aug 18, 2016 by Anonymous (2,293,500 points)
It never pays to buy a new car. The markup's are obvious. A $40k car is worth about $32 - $35k immediately after leaving the lot.



Basically someone is paying thousands for the first few thousand miles. Let someone else pay that.



btw, my father never paid more than a few hundred dollars for any car. Many he drove for 300k miles.
0 votes
answered Aug 18, 2016 by Anonymous (2,293,500 points)
I always question why anyone would be selling a good used car with low mileage if there is nothing wrong with it in the first place
0 votes
answered Aug 18, 2016 by Anonymous (2,293,500 points)
New cars depreciate too quickly.
0 votes
answered Aug 18, 2016 by Anonymous (2,293,500 points)
I buy a new car every 2 years or so. I hate used anything.
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