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If you're paying cash and are limited to $12,000 it just depends on what some of your long-term goals are. It's true that new cars are a bad investment, unless you know you're going to keep it for 10+ years. Then you are probably going to get your money's worth for it. The problem is that any new car in the $12,000 range is probably not a whole lot of fun.
I bought a 2005 Mustang new in (duh) 2005. MSRP was about $20,000, as it is just a base Mustang. I have no complaints on my car. It's a reliable, fairly economical yet still snappy enough, easy to maintain, and inexpensive. I have about 69000 miles on it, and after 5 years, there are some nicks and dings in the paint, but nothing you'll notice from a distance. Last night I black-booked it to see what the current value was, and it booked at about $8500. My point here is that you can probably find a car similar to mine for well under your budget. Then you still have $$$ left in your pocket.
No, a Mustang (or similar sports car) won't be a luxury car, but it'll be fun, I can promise you that. It's probably a good compromise for someone in your position, and if you're just starting out in the work-a-day world, you'll probably be happy that you didn't spend your whole budget on a car.
Hello, please am interesting in Armored Bmw 750il 2001 and Armored Bmw 7 series 750il 2001, please let me know how much cost for it and I through the vehicle is still on stoke?
Hope to hear from you soon
Thanks
Joseph
Hello, please am interesting in Armored Bmw 750il 2001 and Armored Bmw 7 series 750il 2001, please let me know how much cost for it and I through the vehicle is still on stoke?
Hope to hear from you soon
Thanks
Joseph
Wire me 5 Million US Dollars and the car will be in your garage by the end of the week
Hello, please am interesting in Armored Bmw 750il 2001 and Armored Bmw 7 series 750il 2001, please let me know how much cost for it and I through the vehicle is still on stoke?
Hope to hear from you soon
Thanks
Joseph
Let's say you have $12,000 to spend on a car. Do you buy an average new car (example: Toyota Yaris) or a used luxury car (example: a Benz but it's 7-10 years old)?
Me: I would go with the used luxury car
Reason: Unless you're rich, your only hope of ever owning a luxury car is to buy used.
What would you choose and why?
I am looking to buy a car after college and there's a high chance I will buy a used luxury car. But I know some people that would rather have an average new car. Buying new is a bad investment plus with the used luxury car, you get luxury at an affordable price.
I would buy the BEST car that your $12,000 will buy. Sure, you might do well to avoid the higher-maintenance imports, like BMW and Mercedes. But there are some great deals in that space.
In 2009, I bought a 2003 Lexus GS430. The car had the original window sticker in the glovebox, and was for sale by the original owner. This car was fully loaded -- it had EVERY option offered by Lexus that year, and was in immaculate shape. The original window sticker was $54,856, and I bought the car for $10,300.
The original owner had all of the maintenance records that he had ever done. The car had recent brakes and tires, but I noticed that there was no receipt for the timing belt, which is crucial on these cars. I knew I could have the Toyota dealer perform that service for $750. So I negotiated that off of the price and took the car to the Toyota dealer the next day. They installed the timing belt, water pump, thermostat, and coolant, and off I drove.
The car had 101,000 miles on it when I bought it, and 4 years later, I am up to 151,000. In those 4 years, I have spent $1,288 total in maintenance, for an average of $322 a year. The car performs flawlessly, burns no oil, and averaged 25.6mpg on a recent 300-mile highway trip. The 32-valve Lexus V8 from this year is nearly bulletproof, and has amazing acceleration.
My only advice is -- regardless of what car you buy -- to find one that has a complete maintenance history. Luxury cars are certainly built better than an entry-level car, but they do require scheduled maintenance, just like all cars.
a 1987 volvo 240 DL is 49K miles on it and absolutely perfect looking.
why? just because i love those cars.
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) 2005. MSRP was about $20,000, as it is just a base Mustang. I have no complaints on my car. It's a reliable, fairly economical yet still snappy enough, easy to maintain, and inexpensive. I have about 69000 miles on it, and after 5 years, there are some nicks and dings in the paint, but nothing you'll notice from a distance. Last night I black-booked it to see what the current value was, and it booked at about $8500. My point here is that you can probably find a car similar to mine for well under your budget. Then you still have $$$ left in your pocket. 
