New or used car purchase?

Discussion in 'The BS Topic' started by gramps, Aug 12, 2018 at 12:05 AM.

  1. gramps

    gramps Veteran Member

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    Jul 5, 2009
    mankato, mn
    The debate continues.....
    Wether or not to buy a new or a used car. Being that the only vehicle we own that has under 200,000 miles is my Camaro, it’s time to get something newer. Both her Jeep and my Silverado are in the mid 240,000’s. I beat our old alero back and fourth to work most days of the week. Tires are cheaper for that than my pickup and better mileage ha.
    But anyway I’d like to get a car for the wife to drive, save on gas and hopefully reliable. keep her Jeep around for her to use when it’s crappy out etc. but that’s an extra vehicle to have around, maintain, insure bla bla bla.

    I get the GM employee discount - so I’m tempted to use that and get a new car, but am a little disappointed in the lack of V6 options in the cars.
    (And I don’t give a rats ass about how violently zippy these new 4’s are) we looked at a ‘17 Ford Fusion sport. 2.7 ecoboost.... made me tingle a little. Gotta hand it to ford there they at least have v6 options- for now lol.

    Otherwise just get a newer used Jeep or other such suv. Although that’s another area I’m disappointed in gm and ford too for that matter. Their suv offerings don’t really tickle my fancy but the grand Cherokee has stayed pretty nice throughout the years. They’ve got about the perfect size.
     
  2. 73 Z

    73 Z Veteran Member Gold Member

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    Jun 9, 2007
    Los Angeles, Ca
    Used 50k/80k miles seams to bring a lot of originally high priced SUVs down in cost, most are just broken in
     
  3. 73 Z

    73 Z Veteran Member Gold Member

    740
    3
    Jun 9, 2007
    Los Angeles, Ca
    Used 50k/80k miles seams to bring a lot of originally high priced SUVs down in cost, most are just broken in
     
  4. Fbird

    Fbird Veteran Member Lifetime Gold Member

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    Feb 12, 2011
    atlanta, ga
    Just did similar thing about 1 yr ago. We needed a "new" troop transport vehicle (...suv 'ISH ) I/we can't really afford a $50k ANYTHING....wife did NOT want another minivan (YAY) needed 5+ EASY ACCESS seats. Settled on an ENCLAVE (wonderful truck ...btw) The prices were f*king CRAZY.... For a 2 yr used @ 40k miles.....(loaded) = $30-40K :(
    Stumbled upon a 2 yr old Premium with 45K ...paid the $30k couldn't be happier with the truck.
    Some of the milage issues ot be aware of when looking at the 50k range... as not all dealers/sellers fix.
    1. TIRES (about $850 for replacements OF SAME OEM QUALITY)
    2. Brakes ($250 for new everything)
    3. Software UPDATES (yeah ...updated drivability programs MAKE A DIFFERENCE)
    4. WARRANTIES ..100% BULLSH*T. (just my opinion)

    All these things are/can be instant cash killers 2 months after you buy your "great deal" vehicle
     
  5. 72'z'steve

    72'z'steve Veteran Member

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    Oct 15, 2000
    waukesha wi usa
    I've always let someone else take the first hit,we keep our stuff until it dies blazer 255k,yukon 195k, minivan 177k,-all still going bought all with 50-70 k on them,plus most of the "bugs" have been ironed out by then.Later Steve!!
     
  6. The Champ

    The Champ Veteran Member

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    Sep 14, 2000
    MN
    As you seem to have a tendency to keep your vehicles a long time, a new vehicle is worth considering. Right now there are some very attractive deals on the 2018 leftovers - you can buy these brand new, full factory warranty cars for about the same price as a late model used one.

    Right now you can get a 2018 V6 Impala for $10,000 below sticker - without a GM employee discount. I had the GM employee discount available to me until I semi retired in March - but never used it. I was able to buy for less by waiting until year end discounts.

    The advantage to buying new is knowing how the car was taken care of and getting that 3 year/36,000 mile bumper to bumper and the 5 year/60,000 powertrain warranty for free. Free maintenance for 2 years, brand new tires and that new car "smell"....;)

    If you can avoid the need to buy another new vehicle in the typical 3 year cycle - your total cost of operation goes way down with each additional year of ownership. I have typically kept my cars for around 7 or 8 years. When I replace them - they are still solid vehicle that are actually dependable and worth something in trade or private sale.

    I do admit I'm getting the itch to replace my '14 Sonic. I've had it nearly 4 years and it has less than 40,000 miles on it - but I only paid $9466 for it new (leftover 2014 - sticker $20,355 - dealer year end discount/factory rebate/USAA rebate/GM credit card cash and ACDelco $$$'s made up the difference) and it's worth $7500/8000 in trade right now. I'm almost pulled the trigger last month on a new Equinox with the 2.0L turbo - but I think I'm going to wait another year for the year end discounts on the soon to be released Cadillac XT4 (similar vehicle to the Equinox - just a lot more content - similar to my ATS4).
     
  7. GoldenOne7710

    GoldenOne7710 Veteran Member Lifetime Gold Member

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    Jun 23, 2004
    Athens, GA
    I agree with Champ. If the chances of you putting over 200K on it and keeping it for 10+ years....AND if you can get a zero % financing which a lot of people offer for brand new vehicles...I'd say brand new all day long.

    That said, I've never bought brand new. We are about to have a couple of BIG loans paid off that will free up some money. My truck is at 187K miles and the wife's car is at 206K miles, so we are shopping and really leaning towards brand new for her.

    My '02 Silverado is easy to work on and parts aren't THAT bad. I've already replaced the heads, water pump, front hub assemblies, transfer case, transmission, console lid and 1 power window motor. Might as well keep it a while longer.
     
    Last edited: Aug 12, 2018 at 11:11 AM
  8. The Champ

    The Champ Veteran Member

    3,712
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    Sep 14, 2000
    MN
    The zero % financing is not worth it unless you get the best price PLUS zero %.

    If you have to pass on a rebate you are paying for the zero % - usually not a good deal. New car loans are relatively cheap (with good credit) right now. The difference between zero and 2-3% really isn't much.

    When I financed my Sonic (I was going to pay cash) - I found out I could get 1.39% from USAA when I went online to download my extra $750.00 rebate info. I was making 2.25% on my checking account - so I decided to finance the car.

    Check with your local bank or credit union and be preapproved for your car loan before you go in to buy. That way you'll know if the dealer financing is a good deal or not.
     
  9. Lowend

    Lowend Administrator. .a car, a man, a maraca. Staff Member Lifetime Gold Member

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    Mar 25, 1999
    San Jose, CA, USA
    There are a few factors that should be part of the equation
    1) What's the budget, and what's your potential down payment?
    2) How many miles per month/year will this car see (helps determine if a lease is a good option)
    3) Any special use needs (towing, 4x4 for snow etc)
    4) Do you forsee any major life changes for income or location in the next few years?​

    For new cars, that don't see over 15K miles/year a 3-year lease can be a huge benefit to the buyer.
    With resale value baked into the deal, and often times suicidal interest rates this can be hard to beat if the stars align. Example - my 2018 Ford CMAX plug-in hybrid, 39-month lease, $0 down, 15K miles/year and a monthly payment of just over $300. The little bastard gets combined 71MPG and pays for itself in fuel on my daily 50-mile round trip commute.
    Another factor, The discussion my wife and I had when getting her last car: Automotive technology is moving so fast right now, are we even going to want to own the same car in 3 years?
     
  10. 72BIGBLOCK

    72BIGBLOCK Veteran Member

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    Feb 2, 2008
    SF
    Get a Crv or an hrv and call it a day
     

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