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Been driving for 24 years and I've never owned a new vehicle. When I was younger I simply couldn't afford one. Now that I'm older it wouldn't be a problem... but now I understand things like interest and depreciation. I never say never anymore... but I just can't bring myself to pay interest on a depreciating asset. Even with supposedly 0% financing, I'm just not ok with that level of depreciation when I can get acceptable service from a used vehicle at a fraction of the price.
^^This exactly (except I've been driving closer to 34 years)
I'm currently driving a 2011 Audi A4 Avant which was originally a $45,000 car I paid $18,000 for it. The steering is still tight, it drives like a new car, it feels just like a new car hell when I bought it it even smelled like a new car. The saving of $27,000 on a 5 year old car tells me I just can't justify buying new.
My last 2 cars were 1 year old rentals/fleet cars that I got for $13K-14K with 30k miles which would have went for $30K brand new, so I usually save about $10K by buying a 1 year old car with 20-30K miles on it.
Location: In a little house on the prairie - literally
10,202 posts, read 7,917,771 times
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Quote:
Originally Posted by kjg1963
I have never owned a new vehicle. You know, the fresh off the showroom floor with that new car smell. I was curious to find out how many others (mostly over the age of 30) have never had a new car.
My first car was a 1979 Mustang that I bought in 1982. I then had a 1981 Monte Carlo in 1988, a 1979 Datsun 810 in 1990 and then a string of 1985's in the early-mid 90's (Firebird, Pontiac 6000, Honda Accord). In the late 90s I had a 1988 Volvo and then a 2000 Subaru I bought in 2002. I currently have a 2007 Pontiac G6 that was my daughter's for a few years before she bought a new car and we traded my Subaru for it. During all this time, I also had a few beaters in the mix.
I have dreamed of having a new vehicle but, even now, I find myself looking at purchasing a used Kia Optima.
So, who else has never had a right off the assembly line new vehicle?
I owned two new ones, but the last one was bought when I was 24. I'm 65 this year, and have not owned a new car since then, and never will. I had my last car payment at 26, and never had one since. Never will either.
New cars make no sense to me, and I drive back and forth from Montana twice a year. My current van has 172,000 miles on it. I spent nothing in maintenance last year except oil changes, and about $500 the year before, but that included new tires.
New cars exist only so I have a choice of used ones.
I held out until last year (I was 42 at the time), but wanted a Jeep Wrangler and resale is so high on a two year old model that it was worth it to spend the minor difference for new.
Traditionally, I've purchased 1-2 year old vehicles...usually under 20K miles. To me they are still pretty new.
I did lease a car, and while technically new it was never really mine. They entire time I drove it it felt like a rental and I was paranoid to keep it in nice shape. When it came time to hand it in..i was ready for it to go.
Same for me. A year old or two is fine and usually comes with a considerable amount of savings. I leased a car last year after we gave our son the "junker". I work from home so I don't drive much. Found an inexpensive, low mile lease and it feels like a rental to me. I think I was the most unenthusiastic customer my sales person ever had. The car came with enough standard features that were fine with me. The car is nice just a regular sedan and I have zero attachment. If my son wants to take another car, I have him drive our car we bought. I don't like him driving the lease because I am a bit paranoid about car dings or what not that might cost me a bundle when I turn it in.
Two. After leaving 'Nam, when in Fitzsimmons hospital in Aurora CO, I purchased a used '66 Brown, convertible Plymouth Valiant. Then a few years later, I purchased a used Plymouth Barracuda. That was it for many years. Then in 2004, I purchased a used Jeep Wrangler. That was it.
Now I only purchase new, and every few years. And yes, I know I lose money on the purchases, but I'm 68 and I am not going to leave anything to anyone, other than whoever takes my dogs.
So, I'm going to spend it!
I don't give two sh*ts about resale or depreciation if I like the car and enjoy driving it. Sometimes that means buying new and sometimes that means buying used. Since I rarely keep a car longer than 3 years, and only a couple have been around 5 years, then I'm either always saving for the next car or making payments, so even leasing works for me. My next car could be new or it could be used, depends on how I feel a the time and what car strikes my fancy (I'm thinking it's going to be another convertible and I've got 3 main choices, two used and one new. We'll see when it comes time which I choose...) My wife's next car will be an EV and it'll probably be leased, since that's really the only way to own one (though I found a screaming deal on a used 2013 Volt which she likes, so there's that...)
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