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Buying New vs. Used Vehicles

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Comments

  • Kirstie_HKirstie_H Posts: 10,890
    Oh gosh, I'd go for new in that case. When you buy a used vehicle, sometimes the full original-owner warranty doesn't transfer. So, say you buy a vehicle that has a 10 yr/100k mile warranty when it's new, but you buy it used - the second owner may only get 5 yr/50k warranty. I'd think it'd be nice to have the full warranty in effect for at least half of the time you plan to own it.

    Out of curiosity, what vehicles are you considering? My opinion might change.

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  • tjc78tjc78 JerseyPosts: 5,025
    Yes, need a little more information. If you are looking something inexpensive like an Elantra, Focus etc I think I would certainly buy it new. Over the 15 years the extra expense will average itself out.

    OTOH if you are looking at something pricey, it may be more cost effective to buy a one or two year old model which could mean thousands of dollars of savings.

    Kirstie provided good advice on the factory warranty. Check to make sure it is transferable. I know that Hyundai is one manufacturer that doesn't allow their 10/100K warranty to be transferred.

    1999 Chevy S10 / 2004 Merc Grand Marquis / 2012 Buick LaCrosse

  • qbrozenqbrozen Posts: 17,432
    As said above, it definitely depends on the car.

    If anything with steep depreciation, I would still suggest used... however, because you keep the car forever, VERY SLIGHTLY used would be the way to go. Take, for instance, a $50k BMW and put under 10k miles on it and you, the second buyer, could get it for around a 30% discount.

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

  • houdini1houdini1 Kansas City areaPosts: 5,925
    In you circumstances I would buy a new Hyundai because of the 5 year bumper to bumper warranty and the 10 year power train warranty.

    If you are an upscale model buyer, go for the Genesis. If you want an economy model, the Accent, Elantra or the Sonata. Suv, Santa Fe or Tucson.

    I have never owned a Hyundai...and I don't work for them. Never have. They would just seem to fit your circumstances.

    2013 LX 570 2010 LS 460 2002 Tacoma 4x4

  • bigram03bigram03 Posts: 3
    somehting in the 15 to 20k range...
  • sandman_6472sandman_6472 Coral Springs, FLPosts: 2,680
    Our Hyundai Accent has been a dream to own with only one warranty issue in the 4th year which was taken care of within 2 hours of driving it in to the service lane. The car drives well for a sub-compact and the mileage is very good. As a 1st car for our daughter, we have been very pleased with it and the wife is planning to buy another one next year for herself at this juncture.I personally think she should get the Elantra but she has to drive it as her daily driver so the choice is hers alone.

    The Sandman :) :sick: :shades:

    2014 Hyundai Tuscon SE/2005 Mazda 3s/2008 Hyundai Accent GLS/2009 Nissan Versa SL hatch

  • Kirstie_HKirstie_H Posts: 10,890
    A reporter is looking for a car buyer who was approved for a car loan after their credit was dinged during the Great Recession. If you or someone you know was affected by the recession, but is now fighting to get back on his/her feet, and was recently approved for a car loan, please send your daytime contact info to pr@edmunds.com no later than Monday, 3/11/13 at 2 p.m. PT/5 p.m. ET.

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