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Old 11-03-2014, 10:24 PM
 
Location: Honolulu
485 posts, read 509,397 times
Reputation: 520

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As someone said above..."late model used" is a trap. Basically...~2-3 year old used cars may not be that much better deal than a brand new one. (aka, getting a deal on an outgoing model year at the dealer that's trying to clear lot space for the 2015s/2016s)

You've got to look at ACTUAL used cars....like >6 years old and >100k mi. Those are where you'll find real savings.

I just bought a $33,000 car for $7500 last month. (of course it's 8 years old, and has 160kmi, but to me a bit of miles and some blemish on the interior/exterior is way way worth saving about $25,000 on a car, also it was 1 owner and meticulously serviced at the local dealer)

Again you need to buy used cars....not late model "almost new" cars. And the BEST deal are the used cars where it is only 1 owner and it was cared for very nicely by the owner in terms of regular maintenance. Those are the best deals.

edit: Also OP I just noticed you said your brother bought a new Fit...okay, Honda Fit is one of the most INSANELY value holding cars out there. I was looking for one actually and I could not find a good one under ~11k...it was crazy. Fit is a VERY desired car and so the demand is high hence the high price.

For a Honda Fit, I would go new as well, you can get it for basically 14-15k and not spend that much over a used one.

So it's about certain models as well. You guys are looking at very economical and good looking and useful cars, which are going to be very desirable in this economy environment.
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Old 11-03-2014, 10:37 PM
 
48,519 posts, read 81,313,679 times
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Basically its like buying the lowest cheapest in the lineup. Not much margin between dealer cost and MSRP to bargain on. But if you go to a action plenty of used cars that dealers do not want that were traded in. That is were used car independents get most of theirs.Clunks you pretty much have to buy from a junk/wrecker yard or individual who bought it used or drove the wheels off; from new;now days.I wouldn't sale a clunk except for parts to a parts yard because of liability and that is where many go.
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Old 11-04-2014, 05:22 AM
 
Location: San Jose, CA
7,678 posts, read 25,053,785 times
Reputation: 3528
The used price reflects supply and demand, just like the new price. If a model needs heavy incentives and dealer discounts to move off the showroom floor, that's an indicator of weak interest from consumers and/or too-aggressive production targets. That excess supply means that the average price on the secondary market will sink as well, not just because a savvy customer will know what deal is possible on a new one, but also because of the same lack of interest and excessive supply. Meanwhile, the same cars that are hot movers when new tend to hold their value.
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