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Old 03-05-2010, 01:09 PM
 
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Would you say that dealers are battling to move used inventory because of the recession? alternatively would you say that dealers are struggling to get inventory because everyone is buying used and the feed from new car sales over the last few years were pretty low?

in a nutshell i'm just trying to decide whether i buy new or used
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Old 03-05-2010, 02:00 PM
 
Location: Eastern Washington
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What are your goals in getting another car? What price range are you looking in? I'm just going to guess from your other posts you are looking at fairly late models when you say used.

I personally much prefer to buy used from say the original owner, let them take the initial depeciation hit.

That said depending on what you want, sometimes dealers will offer such good financing, etc. on a new model, and/or if you have a fairly valuable trade-in you can save some on sales tax, in most states anyway, and you have the convenience and the warrenty if that matters to you.

I think the used car market is going to vary strongly from region to region, and also on what kind of car you are looking at.
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Old 03-05-2010, 02:01 PM
 
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The used car market (and the auto market in general) is actually pretty stable right now. Most of the blood-letting happened from Q4 2008 thru Q2 2009. It is true that floor traffic and sales are down, but generally dealers have already adjusted inventory and staff to reflect this. The biggest hurdle for most right now is getting credit, just like anywhere else.

With that said, it is always financially wiser to purchase a mildly used car, certified or not, then a brand new one as you will avoid the first major depreciation hit. However, that can get tricky if your credit isn't good as used car rates can be significantly higher than those on new cars, especially if the manufacturer is giving out 0% loans.

It really comes down to personal preference. I've personally done both. The smarter financial move is to buy the used car, however, nothing beats the feel of a brand new car. You just need to ask yourself how much it's worth to you.

PS The only "deal" out there right now in the used car market is on Toyota's, particularly the models that have recalls on them. This is just the market reacting to the headlines. If you want a Toyota, now may be a great time to grab one...just make sure you get the recall taken care of.
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Old 03-05-2010, 02:18 PM
 
Location: Purgatory (A.K.A. Dallas, Texas)
5,010 posts, read 12,850,153 times
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Quote:
Originally Posted by NJGOAT View Post
With that said, it is always financially wiser to purchase a mildly used car, certified or not, then a brand new one as you will avoid the first major depreciation hit.

Not always, if you find a big rebate or a zero interest rate, sometimes it's cheaper to buy new.
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Old 03-05-2010, 02:50 PM
 
14,777 posts, read 34,663,988 times
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Quote:
Originally Posted by getmeoutofhere View Post
Not always, if you find a big rebate or a zero interest rate, sometimes it's cheaper to buy new.
QFT

On the other hand, if you can wait it out a few months the value of the used market will generally drop in proportion to the rebates/incentives offered on the new model and still provide for the lower cost in relation to the depreciation hit.
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Old 03-05-2010, 03:37 PM
 
Location: Purgatory (A.K.A. Dallas, Texas)
5,010 posts, read 12,850,153 times
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Quote:
Originally Posted by NJGOAT View Post
QFT

On the other hand, if you can wait it out a few months the value of the used market will generally drop in proportion to the rebates/incentives offered on the new model and still provide for the lower cost in relation to the depreciation hit.

That's very true. Used car managers are acutely aware of what's going in the new car market so they don't get stuck with a used car that they have to price for about what a new car goes for.

But I was just throwing out that it's always worthwhile to explore all your options, that's it's not a given that a used car is always a better financial idea.

Just 98% of the time it is.
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Old 03-05-2010, 06:28 PM
 
3,283 posts, read 4,573,684 times
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Quote:
Originally Posted by M3 Mitch View Post
What are your goals in getting another car? What price range are you looking in? I'm just going to guess from your other posts you are looking at fairly late models when you say used.

I personally much prefer to buy used from say the original owner, let them take the initial depeciation hit.

That said depending on what you want, sometimes dealers will offer such good financing, etc. on a new model, and/or if you have a fairly valuable trade-in you can save some on sales tax, in most states anyway, and you have the convenience and the warrenty if that matters to you.

I think the used car market is going to vary strongly from region to region, and also on what kind of car you are looking at.

The mrs wants an suv. she wants an x5, q5 or ml circa 2008. i'm trying to push her in the direction of the kia sorrento though because of the 10 yr/100000 warranty and i think they're emerging with ever improving cars. up to $35000

Then i want a cheap pick up truck for myself. 4cyl ranger, tacoma/prerunner circa 2000-2004 up to $4000-$6000, nothing beats a mechanically sound beater which i don't have to worry about

Considering getting a 12 seater for family outings and as a spare car (my car's in the shop and has been there 4 weeks so when i move back to the states i want a spare). this 12 seater is really only for occasional use so i'm not looking for anything immaculate. $6000 - $8000

i'll finally be moving back to tampa from the uk in July
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Old 03-05-2010, 07:51 PM
 
Location: Eastern Washington
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IMHO $35K is a lot for an SUV, I'm just not one to appreciate a "fine" SUV. I think you would be right to go with the Kia Sorrento from the ones you mentioned. There are all sorts of small sedans that can be had in this price range that IMHO are just a better vehicle for the money.

In FL you should be able to find plenty of older pickups, it's not *really* a rusting climate. Shop around and you will see what you want.

On the 12-seat van, depending, it may make more sense to rent something like this rather than own. Depends on how often you would expect to use it. Someone who knows more about these needs to post up, I have driven these from time to time when we had delegations visiting at work, the Ford vans with the V-10 are quite capable of getting out of their own way but are, no surprise, pretty thirsty.

I'm guessing you are not planning to rack up considerable mileage on a regular basis - nothing you noted here is particularly good in the MPG department. Just sayin'.

Living in a good warm climate, it seems to me that at least one ragtop is called for in the garage, no? One big downside of FL is it's FLAT, there are not many interesting "sports car" roads.
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Old 03-05-2010, 08:32 PM
 
Location: United States
2,497 posts, read 6,252,470 times
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Cars that hold a strong value may be better off buying new. Honda is notorious for holding their value. A 1 year old Civic (for example) with 12K miles may be only $1000-1500. less than a new one. I'd pay a grand more to have it brand new, that's just me.
Cars that depreciate faster like many of the low end Chryslers and GM cars are about half price a year later. Impala brand new- $24,000. Same car a year later with 12k miles sold as a program car $12,995. in my area.
Just depends on the make and model as to what's a better buy.
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Old 03-05-2010, 08:55 PM
 
3,283 posts, read 4,573,684 times
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Quote:
Originally Posted by M3 Mitch View Post
IMHO $35K is a lot for an SUV, I'm just not one to appreciate a "fine" SUV. I think you would be right to go with the Kia Sorrento from the ones you mentioned. There are all sorts of small sedans that can be had in this price range that IMHO are just a better vehicle for the money.

In FL you should be able to find plenty of older pickups, it's not *really* a rusting climate. Shop around and you will see what you want.

On the 12-seat van, depending, it may make more sense to rent something like this rather than own. Depends on how often you would expect to use it. Someone who knows more about these needs to post up, I have driven these from time to time when we had delegations visiting at work, the Ford vans with the V-10 are quite capable of getting out of their own way but are, no surprise, pretty thirsty.

I'm guessing you are not planning to rack up considerable mileage on a regular basis - nothing you noted here is particularly good in the MPG department. Just sayin'.

Living in a good warm climate, it seems to me that at least one ragtop is called for in the garage, no? One big downside of FL is it's FLAT, there are not many interesting "sports car" roads.


the problem is that the mrs wants a 7 seater for days when she gets my nieces and nephews. i know the ml and q5 are only 5 seaters though you can get the extra two on the x5. she outright refuses to drive a minivan. (women-can't live with them or without them! errrr perhaps only half of that statement is true lol) besides i prefer the 'impact' safety of the suv. she drives way too slow to roll it.

i agree on the soft top though as you pointed out florida doesn't offer a great driving experience. i tried to persuade her that if we went for an entry level 7 seater we could look into a 911 cabrio as a sunday spare. she's not buying my argument.

i kinda like the idea of having a 12 seater because we'll probably be getting a lot of visitors from out of town. when the fandamily comes around we could also then shove the 6 kids and 6 adults in and away we go. i'll probably end up taking your advice in the beginning and see how things pan out
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