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It was true that buying new saves money in the long run, since I like to keep vehicles for 12+ years.
Many cars lose half of their value in just a few years. I've never had any car break enough to make up for that.
The difference between the value of a 12 year old car and a 15 year old car is minimal. Not getting much of it back when you sell it.
Then there's the time value of money.
Buying new means it's tied up in a depreciating asset and either losing the investment income or paying loan interest.
Much can be saved by buying used and having the difference invested in an appreciating asset.
The less money tied up in a car the better. Classics are the exception... they can be a very good investment.
Somebody said to me when I mentioned wanting to buy a $1500 to $2500 used car, "You would have to buy $6000 used car to be able to use it for 2-3 years. Anyone would know that." and said what could happen is it would get out of order soon and the repair bill would be like $3000, and I could get $250 out of it by scrapping it.
Here's an example showing that you can get a less than $2000 that drives virtually like a new car.
Anybody have any examples or arguments that it's ok to buy a cheap used car?
I bought my 01 Forester for $1.300 it had 150ishK on it now it has 334k on it. Still driving it on a daily bases.
Yes, I had to replace the head gaskets along with it the, water pump, timing belt and the two front CV joints. That cost $900.00 had to replace the radiator as well it set me back $100.00. I’ve had to replace little things here and there. And basic maintenance of course.
Funny thing is today I had to jump start my wife’s Outback she left an interior light on and killed her battery. Standing there next to both cars mine much quieter then her car is. Whoever had it before us didn’t take care of it at all.
We are avid hikers and we take my car places that people with thier jacked up 4-wheel drive trucks won’t go.
I drive 30 miles to work every day that 90 miles total just to work five days a week. I have to replace the bulbs behind the dash and the switches behind the AC and heater controls. The sunroof came off the track so have to fix that. The seat heaters will toast your chest nuts. The AC doesn’t work I don’t care like the windows down and the sunroof open blaring some Eddie Vetter.
Look, I admit this might be a fluke thing but I’ve bought others cars like my Forester for cheaper and drove the hell out of them, until it dropped always got my money’s worth out of them.
Bought a Honda with 160k miles, drive it another 100k miles and sold it for what I paid for it ($2500). I put maybe $500 in maintenance in that car.
Next I bought another used Honda with 160k miles, that was 5 years and ~80k miles ago. So far I haven't put any money into it, and it's still worth darn near what I paid. This one is looking like I might get another 100k out of it at this rate, and hopefully EVs will be more mainstream when it's time for me to get something else.
Yeah there are plenty of reasons to buy a new car, but not a single one of those reasons is value or saving money. And sure, you can get burned buying a used car that's been abused, especially if you know nothing about cars and make the exchange without considering the prior owner or taking the car to a mechanic to have it looked it.
What year and model was the first and second Honda?
How much was the second Honda?
One of my biggest worries about buying a used cars is if it had been in a flood. All those cars that got flooded out in Houston, what happened to them all?
I wanted a beater to get me to the park & ride and back to commute by bus, and not leave one of my nice vehicles there all day. I bought a 1997 Ford Escort, with 140,000 miles for $950. I sold it for $500 6 years later with 174,000 miles on it, still running strong.
I don't think many people would expect that one to last so long, but with good maintenance and some luck, it happens.
Yup. That’s basically what I did. I bought a rolling odometer. First year I put 32/33,000 miles on it. Now it sits at a park and ride. I do the required maintenance on the vehicle. Runs great. Paid 2600.
You wont convince someone that doesn't want to be convinced. Best way would be to do it and show them they're wrong. But they'd still chalk it up to luck.
Bought a 2000 Buick Century for $3000 about 4 years ago. It had 40k miles on it. Only replaced the tires and wipers. It's an excellent car for my daughter.
Have a 2005 Scion TC worth $3000. Has 120k miles on it. Runs like a champ and only major repair was new shocks and structs replaced.
No reason at all to buy a new car. Life is way too short and I work way to hard to have that much of my money depreciating every year. It makes no sense to me to buy new.
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The AC doesn’t work I don’t care like the windows down and the sunroof open blaring some Eddie Vetter. 
