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Old 09-26-2023, 05:26 AM
 
4,416 posts, read 2,938,422 times
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Quote:
Originally Posted by StealthRabbit View Post
Please give an example of the 10x disparity, I would like to understand the model / reason for that much cost difference.
Nissan Altima. And its 10k, not "10x".
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Old 09-26-2023, 09:43 AM
 
3,465 posts, read 4,836,154 times
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Quote:
Originally Posted by bfrabel View Post
One thing that's often overlooked is the fact that interest rates are usually lower on new car loans than they are on used car loans.

This often can make the total cost of a new car almost the same as one that's 2 or 3 years old.

This was even true 20 years ago, before used car prices started going crazy.

Historically the advice has always been that you can save all kinds of money by buying a car that's a few years old, but when you factor in the cost difference in interest rates, I don't believe that's always true.
A lot of people that are good with their money including those that are wealthy, buy used cars with low miles and pay cash. Interest rates have no bearing on the deal. If you do your homework, buy the right vehicle and keep it for a while, you actually do not spend very much per year on vehicles.

Quote:
Originally Posted by Berteau View Post
Nissan Altima. And its 10k, not "10x".
I would do some homework if I were you. Nissan Altima's are not very good cars. You will have problems with it and almost undoubtedly will have to put a transmission in it if you keep it very long.
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Old 09-26-2023, 11:19 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,694 posts, read 58,012,579 times
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Quote:
Originally Posted by dijkstra View Post
... buy the right vehicle and keep it for a while, you actually do not spend very much per year on vehicles.



I would do some homework if I were you. Nissan Altima's are not very good cars. You will have problems with it and almost undoubtedly will have to put a transmission in it if you keep it very long.
Agree... A good example of why a NEW Altima is $25k, A USED One that has expired the warranty period might see that 35% reduction in valuation.

Beware of 30% valuation decreases in 3 yrs. (under 60,000 miles)

There are more dependable / predictable buys out there.
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Old 09-26-2023, 11:33 AM
 
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The cost of anything approaching new, plus associated costs, scares me. When I bought my 95 van back in 2000, I expected to pay an amount equal to what I paid to bring it into tip-top shape including a new paint job and some conversion into something I could use camping. 23 years later, and many many miles, I am still driving it. I think it may have a small coolant leak in the head gasket, but as long as it doesn't blow, I can live with that for a while longer.

All of the electronics in new vehicles? When dealing with computers and consumer electronics, the common axiom is that at three years it is junk. Maybe the electronics in cars are more robust, but after owning a Honda Accord that stalled me out in heavy traffic because of an overheated computer, I'm dubious.
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Old 09-26-2023, 12:44 PM
 
Location: Mid-Atlantic east coast
7,115 posts, read 12,657,474 times
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We've had great good luck buying dealership re-conditioned cars....our "newest car" is a 2014 Honda Accord we bought when it was 5 years old with 21,000 miles. (it must have been literally driven by a little old man/woman to the grocery store and back). Looks and smells like a new car. Quite a cream-puff.

We bought it just before Covid made used car prices skyrocket like mad.

We paid less than half of what a new Honda would cost with the features we got...we get it serviced at the dealer we bought it from and it's been trouble-free....
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Old 09-26-2023, 12:53 PM
 
3,239 posts, read 3,540,164 times
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Quote:
Originally Posted by Berteau View Post
I know with inflation today that the cost difference between a new car and used car is smaller than it used to be. However, dealerships make money from selling car loans and you can get used cars even cheaper if you go though a private seller. If I compare prices online for a 3 year used car is about 10k cheaper than new
The challenge is that there is not much 3yr old inventory sitting with private sellers. [Selling a fairly expensive item to a random individual is not without risk and limits your pool of potential buyers when the buyer needs to come up with their own financing] Also, as the car market is coming down to earth, you can't really compare MSRP anymore as, depending on model, there are discounts aplenty if you are willing to do some work.
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Old 09-26-2023, 03:37 PM
 
Location: NE Mississippi
25,559 posts, read 17,263,106 times
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Quote:
Originally Posted by dijkstra View Post
..............I would do some homework if I were you. Nissan Altima's are not very good cars. You will have problems with it and almost undoubtedly will have to put a transmission in it if you keep it very long.
Speaking of transmissions, when I look for another used car I will look for one with actual gears in the transmission instead of a CVT.
It's getting to where cars have to be pretty old in order to find one with a planetary gear set instead of a CVT.
The problem is, the cost of repairing a CVT. Most of them don't really shift. The pretend to, so the driver will be happy, but they don't really shift.
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Old 09-26-2023, 03:40 PM
 
Location: on the wind
23,265 posts, read 18,777,131 times
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Quote:
Originally Posted by Berteau View Post
If I compare prices online for a 3 year used car is about 10k cheaper than new
IME (limited as it is...I don't buy lots of cars), this isn't true across the board. 3 of the 6 cars I've owned were purchased used...circa 3 years old. None of them were 10K cheaper than a new one of the same model. Maybe that's because I am very selective and overly cautious, maybe because I didn't dicker enough over the price. I always did advance research regarding value and went into the purchase with a good idea what I would be willing to pay. Whatever it was, I don't consider a nearly sunsetting manufacturer/factory warranty a deal breaker. and with one exception for glass, never purchased an aftermarket product. Car parts break. Things need replacement. Just the cost of ownership. I haven't had major problems with any of my used cars outside predictable minor wear and tear.
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Old 09-26-2023, 05:16 PM
 
4,416 posts, read 2,938,422 times
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Quote:
Originally Posted by dijkstra View Post
I would do some homework if I were you. Nissan Altima's are not very good cars. You will have problems with it and almost undoubtedly will have to put a transmission in it if you keep it very long.
I haven’t been able to find any negative reviews like that. What’s your source?
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Old 09-26-2023, 06:26 PM
 
1,824 posts, read 796,358 times
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Quote:
Originally Posted by dijkstra View Post
I would do some homework if I were you. Nissan Altima's are not very good cars. You will have problems with it and almost undoubtedly will have to put a transmission in it if you keep it very long.
Not always. A family member bought a new 2012 Altima & it’s still their daily driver. They keep up the maintenance.
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