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Amen...I don't buy into the whole "it holds it value" argument. Look at how cars like Mercedes and BMW drop like a stock market crash. It's unbelievable really.
I think a lot of high end cars like that are leased, probably to business executives in many cases, who end up flipping them for another new leased car after a couple of years. So, you end up with an oversupply of gently used luxury cars, with not that much of a market.
I can't think of anyone I'm personally acquainted with, who goes out and buys a new car, then trades or sells outright after a couple of years. So, you end up with a shortage of low-mileage, gently driven, and well cared for late-model vehicles on the market, that are affordable.
Why not? My '02 Suburban 2500 was $6500 and has a good decade of useful working life left. My '06 Mustang GT convertible was $17k and in excellent shape and was huge savings over a $40k new one. I'm looking at choosing from a trio of used cars right now for possible purchase next year, an '01 BMW 740i Sport, that tend to go for $8-13k, an '03-05 Jaguar XKR that are in the '$14-18k range now, and an '07-08 Mazda Miata Grand Touring that tend to go from $12-14k right now. All reasonable purchases that save many, many thousands of dollars off new and have many useful years left. But even at that, I'm looking at them because I like the cars and can afford them.
I've had over 130 cars in the last 38 years, and I've only had 4 that were with me more than 3 years at a stretch (three of which I had for 5 years each and one that I've had for 20 years). I have had five that were bought new (well, 3 were leased).
Probably because I'm a 1-car kind of guy. I've driven for over 20 years now and am only on my 2nd car. I buy what I truly like and enjoy. When I had both cars at the same time, I felt guilty driving one and not the other. Having over 130 cars doesn't say the same thing - and what's more is you've probably spent more money in 20 years buying used than I have buying new. Nothing wrong with that - just doesn't suit the theme of the thread.
I've been told if you are one who keeps a vehicle for only 5 years or less then buy used. If you plan on keeping your vehicle around 10 years then buy new if you can afford to do so. After roughly 5 years, your vehicle is paid off. Then whatever your car payment was, put that dollar amount aside in savings to go towards the purchase of your next vehicle.
Probably because I'm a 1-car kind of guy. I've driven for over 20 years now and am only on my 2nd car. I buy what I truly like and enjoy. When I had both cars at the same time, I felt guilty driving one and not the other. Having over 130 cars doesn't say the same thing - and what's more is you've probably spent more money in 20 years buying used than I have buying new. Nothing wrong with that - just doesn't suit the theme of the thread.
I love cars, I ONLY buy cars I like (but I like aLOT of them out there, most of them way more expensive that I could afford, like vintage Ferraris and exotics) and I'm not marrying just one, except the '63 Comet that I've had for 20 years. But I've also bought new a number of times and leased new a couple of times. And usually my used cars when I sell them pay for the next car or two, and have only actually lost money on my new cars.
I believe it really depends on your needs and financial situation. I've gone from buying 5-1500 dollar cars from my friends who are mechanics, to buying and financing 2 year old used cars. I've paid cash for brand new cars, and have financed brand new. Things are improving, where factory financing is again being offered at 0% which is a great way to buy a car. Cars can be driven for hundreds of thousands of miles, if maintained properly. And while you can buy certified pre owned cars from dealerships, don't expect that label to guarantee a perfect car. Just research and read how many have found out their cpo buy was in a major accident....
Buying used cars is great for people who know cars, or have friends who do. Personally, I only buy German cars, because I have a few friends who are dealer techs. When buying used, it's best to have someone you trust check it out at the very least. If you don't, and don't have the resources, here is a tip. Make sure you look under the hood. If the car is dirty under the hood, chances are that the car isn't maintained optimally. If it's too clean, it may be to dress it up. Look at the heads of bolts, nuts, screws. If you see that a lot of them have been turned on, then at the very least that car has had a lot of work done to it, and it may be because the owner drives it hard.
The best buys will come from a private seller. Single women, older adults, are surprisingly the best people to buy from IME. Single professional women take their cars in and get their services done, older people don't beat their cars like some 20 year old will....
I have never bought a new vehicle. I buy vehicles with good reliability ratings and budget at least $500 to have fluids changed, alignment and tune up depending on the miles. I like to know where I stand maintenance wise. I then maintain vehicle well and wash it frequently to avoid rust.
I have had good success buying used and have no trouble selling vehicle when I am ready for a different one as I keep a records of all repairs and maintenance. Buyers look for that.
I don't drive a ton, around 10,000 miles a year. 2013 Elantra or Mazda3 which I know most people like can be had for around $11,500.
Seems like you guys are saying Focus/Cruze are just so iffy on reliability that you'd rather zero in on an Elantra or maybe a 3?
As for buying from fleet, my aunt bought an 09 Camry 3 years ago and it's been fine. They even let you sign the car out for 3 days risk-free so I'd be taking it a mechanic.
Do you have any idea how people drive when they're in a rental car? That's one heavily used and heavily beat on car, even if it is properly maintained it's likely had a hard life. No way I'd ever buy a car that was previously a rental, NEVER.
Do you have any idea how people drive when they're in a rental car? That's one heavily used and heavily beat on car, even if it is properly maintained it's likely had a hard life. No way I'd ever buy a car that was previously a rental, NEVER.
I do have some idea - when I am renting a car I drive ridiculously careful because I don't own it and don't want to have to pay thousands of dollars to repair someone else's property (perhaps not just the rental car but someone else's in a multi-car accident). I don't know who these crazy hard-driving people are that are characterized as automobile renters by so many. I don't see them, haven't been a passenger to any, and I suspect that other than rental sports cars most people drive pretty normal in rentals. I'd be much more leery of purchasing former police cars as you know those guys have to start up and go very quickly sometimes and they also are much more likely to have quick accelerations and braking situations on a daily basis.
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