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Buying New vs. Used Vehicles

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  • fezofezo Posts: 9,328
    Yeah, we'd need to know more.

    As a rule slightly used is always better but someoen has to buy the new stuff to keep us cheapskates supplied.

    I just picked up an 07 Camry with loads of the bells and whistles on it for less than a new stripper. Sure it already has its first scratch and then some but it is in wonderful shape and I'm expecting many years out of it.

    Disclaimer: I have bought new vehicles; it's just that most of the time I go the used route.
  • freet3freet3 Posts: 5
    the term for my 2007 jeep is 5 years The new jeep is 2010 unlimted sport islander and the mrsp is 30,000.the dealer is taking off 3,200.the new loan is for 60 months
  • fordfoolfordfool Western New YorkPosts: 87
    You can shop around for financing on the lease buyout. You don't have to take the dealer's rate. If you go this route you will OWN the 2007 Sahara. It will be yours. :)

    If you choose to lease a new Sahara, then at the end of the lease period you will own a bill for turning back the lease and nothing else. :(

    Are the number of months on the buyout and a new lease the same?
  • freet3freet3 Posts: 5
    the new jeep islander is a buy not a lease.the rate to buy my leased jeep sahara is 8.4
  • dtownfbdtownfb Posts: 2,915
    The difference between the two loans (2007 vs. 2010) is about $3,500. One thing you have to factor into the 2007 is the cost of the lease. Even though you aren't paying that money going forward, it has to be factored into the total costs. Basically you are paying the 3 year lease plus the 5 year loan on the 2007.

    Also remember that at the end of the loans, you will have either a 8 year old car or 5 year old car. Either way the 2010 is the better value,

    Good luck.
  • Researching 2010 RAV4 and have found a few with similar prices, the new is ~2k-3k more, (the 2011 is even more). I wanted low mileage (varies from 6k-15k) used, but am confused about the warranty.

    Does the original 3yr/36k bumper to bumper transfer with the vehicle?
    Or do I only get the 3month 3k with the CPO from a dealer? One of my options is thru a private seller, but it seems a big risk if there's no warranty on a 1 year old car that costs almost as much as new. (all are ~$20k+..hey, it's alot to me!)
  • jipsterjipster Posts: 5,345
    Does the original 3yr/36k bumper to bumper transfer with the vehicle?
    Or do I only get the 3month 3k with the CPO from a dealer?


    The original manufactures 3 year/36k mile warranty transfers. Dealerships will often add the CPO to their "newer" used cars. The high resale value of Hondas and Toyotas make them poor choices for used car buys. I'd buy new.
  • If you are a smart car buyer and you know how to check the vehicle pretty well, you can get the best used vehicle. There are certain precautions you need before buying a used car and it's worth all that when you can get it cheaper than a brand new one.

    Also buying used will make you experience other models as you can sell them again. Just keep them clean and well-maintained so the value will not depreciate that much. As human beings, we have the tendency to grow bored of something in the long run.
  • Kirstie_HKirstie_H Posts: 10,835
    A reporter wants to interview a recent carbuyer who considered new and used, and decided on new because the deal was better. Please email pr@edmunds.com by Nov 17, 2010 with your brief story and your daytime contact info.
    Thanks,
    Jeannine Fallon
    Corporate Communications
    Edmunds.com

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  • oldfarmer50oldfarmer50 Posts: 6,269
    Honda--new

    Kia-used

    Toyota-new

    Chrysler-used

    Nissan-new

    Hyundai-used

    Audi-new

    BMW-leased

    Almost anything else buy used as a 3 y/o used car will save you 40-50% off new.

    2009 PT Cruiser, 2008 Eclipse, 1995 Mark VIII, 1988 GMC Van

  • qbrozenqbrozen Posts: 17,199
    Audis depreciate like rocks. (just a quick comparo... new A4 2.0T premium auto for ~$35k vs trade value of an '08 w/36k miles at $18k.) CPO is the way to go there, if at all.

    Not sure about Nissan, either. I think it depends on the car.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • jprocjproc Posts: 133
    I agree with oldfarmer regarding buying Toyota's and Honda's new and american made cars used.I looked for a 2-3 year old used civic for my daughter last year annd was shocked at what the dealers were asking> I thought the asking prices were so outlandish that there wasn't even a starting point for negotiations.Same thing happened when I looked at 2-3 yr old corollas.
  • fezofezo Posts: 9,328
    The Audi are the odd one. Yeah, they depreciate like rocks but those first couple of years they are likely to run....
  • oldfarmer50oldfarmer50 Posts: 6,269
    "...Audis depreciate like rocks..."

    I have to agree with you there. A friend just bought a 2005 (A4 I think) with 50K for under $10,000. I was thinking more about the mechanical problems I've heard about as they age.

    I guess I'd put Audi in the "lease" category but then again, if they drop like a rock...ahhh... forget it, don't touch 'em. :mad:

    2009 PT Cruiser, 2008 Eclipse, 1995 Mark VIII, 1988 GMC Van

  • qbrozenqbrozen Posts: 17,199
    forget it, don't touch 'em.

    probably the best option.
    ;)

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • steverstever YooperlandPosts: 40,134
    Did you go looking for a used car and find that prices were so high that it made more sense to buy a new car instead? Or found that your trade-in was worth a lot more than you expected?

    If so, a reporter wants to interview you. Please email pr@edmunds.com no later than 3pm Eastern on Thursday, May 5, 2011 and include your daytime contact information.

    Moderator
    Need help navigating? stever@edmunds.com - or send a private message by clicking on my name.

  • robbiegrobbieg Posts: 326
    Just wanted to get others thoughts about a car purchase. My budget is 25,000 if I am buying a new car and not a penny more. I want a SUV. I am open to used and new cars. However, I reallly don't want a a striped car. I like the Outback but the midlevel, premium is over my budget. I also don't mind the Sorento but again a midlevel Sorento is over my budget. Same goes for a Pilot. I priced the LX AWD on true car and id came in at 26,700 or something like that. CRV is set to be replaced and I have no faith in the EX AWD being priced below 25,000. The Equinox is pretty pricey. I have looked at used models but the asking prices are insane.

    So, if I am going to spend 20-22000 on a used SUV what should it be? What year?

    Can I get a fairly loaded 2009 Murano or Pilot for 20,000?
  • qbrozenqbrozen Posts: 17,199
    2009 Mazda CX7 Grand Touring with moonroof, leather, etc, with ~30k miles will run you about $21k-$22k after negotiations.

    That same price for a Pilot EX-L AWD would require you step down to an '07 with ~50k miles.

    And '09 Hyundai Santa Fe LTD with ~30k would be more like $23k.

    '09 Rogue SL w/ leather and moonroof with 30k would be $20k-$21k.

    '07 Murano SL w/leather, dual pwr seats, moonroof and 50k = ~$20k.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • robbiegrobbieg Posts: 326
    Cars have gotten pretty expensive. I think the Rogue is a pretty good buy new. I have priced them and loaded up they are about 26,500. I also think the Pilot LX AWD is a good buy and it is priced the same. I would just rather spend less than 25,000 so my payment would be south of 400 after trade and a little money down. The problem with dropping to 07 for the Pilot and Murano is that they both are old models. I am trying to trade a 05 Subaru GT with 60,000 miles so I can't really bring myself to spend 20,000 on a car with 10,000 less miles on it.

    Shockingly, I am almost considering an 2008 Audi A4 Avant. If they are priced close t the sedan it could be good buy. Sedans are priced at 20,999 with 38,0000 miles. I wonder if the premium for a wagon is about a grand? Unsure from the listings if this is a CPO. I would rather have an 2008 Audi wagon than 2007 Pilot. If only my wife didn't hate VWs and Audis so much.
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,320
    Determine what you want. If the price is too high, advise the seller what you will pay. Offering to pay less than the asking price compliments the seller by letting him know your are at least interested. Often the asking price by the seller is so damn high that when he receives an offer lower, that offer is actually higher than he could sell the unit for and so he makes a very good profit while you think you struck a deal. In making any purchase, the Buyer is the Controller and the Seller wants your $$$ so make him earn it. If your limit is $25,000 why not shop what you want up to $35,000? The Buyer has no idea just what the Seller will agree to until your offer is communicated. When the Seller attempts intimidation, walk away. ;)
  • robbiegrobbieg Posts: 326
    I understand that it never hurst to make an offer but at the same time if the asking price is so high then they may not be open to a reasonable offer. For example, I searched the Audi CPO website and there is an 2008 A4 quattro with 38k miles for 20,999 in Virginia. My local Audi dealer has the same car for 25,999. Big difference in price. I can't imagine that they will knock 5000 off of price. So it probably isn't worth my time to drive to the dealer and make an offer.
  • qbrozenqbrozen Posts: 17,199
    edited May 2011
    An '08 2.0T Avant with leather and 40k'ish miles is worth between $20k-$21k as a trade. So CPO for such a car is probably in the $25k range.

    A comparable sedan (gotta add quattro to be comparable) is actually $3k less.

    The CX7 seems like a good buy to me, which is why I listed it up top. I mean, that's a $32k vehicle new. So $22k for one with 30k miles ain't bad at all, IMHO.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,320
    edited May 2011
    " So it probably isn't worth my time to drive to the dealer and make an offer. "

    The above attitude, approach, & thinking is not appropriate in buying.

    There is no fear in making your offer regardless of any posted price.

    Confront the Sellers and state your offers. You have no idea what is on their balance sheet and when they will jump on your price. Be Bold! :mad:
  • fushigifushigi Posts: 1,233
    If you're considering the Rogue, have you also looked at others in it's class? Outlander Sport, Tucson, and Sportage are all comparable in size & price though all three offer better fuel economy & warranty than the Rogue.

    Personally, I keep my cars for 8+ years so the question that springs to mind is why are you looking to trade in now? Is there something about the Subie you can no longer live with or are you just ready to move on?
  • robbiegrobbieg Posts: 326
    Time is money. I have more important things to do tham make an offer that has little chance of being accepted.
  • robbiegrobbieg Posts: 326
    I was in a wreck last year and the car was fixed. My wife doesn't like this fact. Also, sort of want a bigger car or a car that isn't a sedan. Basically, have two boys and a big dog. So a SUV even a small one would help. Our other car is a minivan but because of our schedules we frequently need two cars that can hold the kids and dog.
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,320
    Your first statement is true. ;)
  • qbrozenqbrozen Posts: 17,199
    I agree with the OP. Unless it is a hard to find vehicle, I'd rather spend my time focusing on cars with more realistic asking prices.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • fushigifushigi Posts: 1,233
    Well, I can certainly understand that. Even a repaired vehicle will often leave an accident "aftertaste".

    Also, my sister-in-law had issues with a post-accident-but-supposedly-repaired pickup. The truck ran fine but in a followup accident some time later the airbags never deployed. :mad:

    I think you're on the right track with a small SUV/CUV or a wagon.
  • bigram03bigram03 Posts: 3
    Hey all,

    Looking to get a car here fairly soon and wanted to ask which is a better value car to buy (new or used)

    With the way the used car market is right now which would be the best way to buy taking into account that we drive our cars till they die? We plan to keep anything we buy 15+ years are have concerns buying a used car that already has a chunk of its life used up only to save a few thousand bucks. Any advice is welcome
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