I never pay more for a used car than the typical downpayment for your hypothetical $25k new car, and I have a very inexpensive back-up utility vehicle that can serve as a replacment in case of emergency.Thanks for opening up this “foregone conclusion” issue to discussion.While Ramit’s purchase choice is obviously right *for him*, when the discussion expands to what’s right from an economic standpoint, we seem to be forgetting about the distinction between capital and operating costs.Operating costs for an auto are the maintenance and fuel costs. Of course, the jalopy mini van has a lot of down side compared to a new car, but you should be comparing a new Accord to a barely old Accord. Plus, since they are pretty essential, any issues (no matter how small) will need to be fixed ASAP. Not the smartest move to purchase a car when it first is out, but I knew what I was doing .Long run new cars is better deal.
I just don’t trust anyone whom I’ve never met~.I am doing a research on cost vs. value, and found your article, I definately agree with your views as in “Treat your car like a stock and plan to hold it for a long, long time. The moment I would get it on the road, smth else would break. But we haven’t done it, no need to. Well, I like 3 year old luxury pimpmobiles (Infiniti Q45’s, etc.) It cost me $8000 and I put 80,000 miles on it and never had any breakdowns. I’ll probably drive it a total of 8 to 10 years or until it starts to have troubles.I’m all for making prudent financial decisions but at the same time, there has to be room for enjoyment and fun. Now I had to choose between buying a new or used car.Here are a few things I debated before choosing a new over a used car — and you should too.Here’s the deal: Buying a used car might save you upfront money, but it may cost you a lot more over the long term. If that is the case, then driving 20,000 miles per year in severe weather changes, there could be significant mechanical issues that won’t surface immediately.
especially not 10 years. I scoff at the people who are willing to (in my opinion) spend too much for a car that is new – whatever car that is.
It’s 10 years old and still running great. They came — and brought their 14 closest friends.I drive a ’00 Honda Civic which I purchased last year. If it’s yes, then awesome!
The Mercedes Benz motto, “The best or nothing,” illustrates the appeal of this car.
That’s the cheaper option, but still a bad decision versus buying used.However examining lawyers do occasionally change,Paragraph writing is also a fun, if you know after that you can write or else it is,Howdy! In fact, looking at it from any angle shows that buying new destroys value. Awesome.Grats on your new car, Ramit. On very few days of the month, I made a small budget for a taxi, for those special important occations…,To me, its not only about cars, you either do the right thing, in FULL, or DON’T do it at all. My personal preference towards new cars is to buy either off lease or 1-3 year old trade-ins and get the extended warranty. In short, it saves me a ton of worry. We should make our cities car-free.
).I agree with a few things here. Buy a good condition 2-4 year old vehicle, and pay cash. MOST people actually. But nothing will take the sting out of driving up to a job interview or consulting job in a 17 year old 1990 honda accord…I have to come to terms with the fact that i am not in college anymore.With that said, i’ll have to agree with the previous statement about cars being a hunk of scrap metal. Did they drive the vehicle roughly? Also, you can negotiate the price of a used car, and usually easier too because some tool traded it in for a new one, and got next to nothing for it, so the dealer has more of a spread to work with.I’d like to see some numbers and actual data before I’d agree a new car makes sense financially.I post a comment this afternoon, and suddenly there are 27 others. big fat yes. Seems like you take the edge off the new car price and still get a dependable vehicle.Also, I liked Suzanne’s comments. one that has just passed the warranty limits. So a Toyota Sienna it would be.I did research used Toyota Sienna Limited models, and saw one in CA that was nice. I have an Accord also, bought new in 2004, costs $200 a month with a tiny downpayment. And in 2032 dollars to boot!So there are no absolutes. The driving factor behind this is the that their emissions (and therefore, annual car tax) are incredibly high. ... sources and think you know what your vehicle is worth, ... for five high-volume 3-year-old … Always.Now if you buy say a Crossfire or Solstice, keep it for 25 years until it is a bonafide antique car, and I want to buy that car 26 years from now, I am going to pay way more than you paid for it new.
And I can say first hand that a used car is a used car is a used car.Statistically speaking if you sell a car within the first year of buying it — something is wrong with it.Honda/Toyota/whomever can only guarantee so much on their “certified used”.
Because 21 years and 385000km later (about 240k miles) I’m still driving the same car, and still happy with it, and saving money.The car is a Nissan Pulsar, bought in Australia. I get 3 years of warranty coverage, years of hassle free new-car driving, I never get stuck with a lemon because some dishonest seller lies, and – over the life of the car – I pay less than if I’d had a series of crummy used cars needing repairs.
Taking the average price of these vehicles will give a good indication of exactly how much your car is worth.Another worthy side note – if you’ve got 3 listings at a similar price point, there’s a good chance that is a realistic valuation (rather than taking the average of £1,000, £1,250 and £1,500 to get a £1,250 average).Dealers get offered cars every single day, and they need to make a large margin to keep their doors open.How much your car is worth to a dealer, will depend on which specific dealer you go to.To get the best valuation for your used car from a dealer, you need to find a dealer that specialises in your car.
I just don’t trust anyone whom I’ve never met~.I am doing a research on cost vs. value, and found your article, I definately agree with your views as in “Treat your car like a stock and plan to hold it for a long, long time. The moment I would get it on the road, smth else would break. But we haven’t done it, no need to. Well, I like 3 year old luxury pimpmobiles (Infiniti Q45’s, etc.) It cost me $8000 and I put 80,000 miles on it and never had any breakdowns. I’ll probably drive it a total of 8 to 10 years or until it starts to have troubles.I’m all for making prudent financial decisions but at the same time, there has to be room for enjoyment and fun. Now I had to choose between buying a new or used car.Here are a few things I debated before choosing a new over a used car — and you should too.Here’s the deal: Buying a used car might save you upfront money, but it may cost you a lot more over the long term. If that is the case, then driving 20,000 miles per year in severe weather changes, there could be significant mechanical issues that won’t surface immediately.
especially not 10 years. I scoff at the people who are willing to (in my opinion) spend too much for a car that is new – whatever car that is.
It’s 10 years old and still running great. They came — and brought their 14 closest friends.I drive a ’00 Honda Civic which I purchased last year. If it’s yes, then awesome!
The Mercedes Benz motto, “The best or nothing,” illustrates the appeal of this car.
That’s the cheaper option, but still a bad decision versus buying used.However examining lawyers do occasionally change,Paragraph writing is also a fun, if you know after that you can write or else it is,Howdy! In fact, looking at it from any angle shows that buying new destroys value. Awesome.Grats on your new car, Ramit. On very few days of the month, I made a small budget for a taxi, for those special important occations…,To me, its not only about cars, you either do the right thing, in FULL, or DON’T do it at all. My personal preference towards new cars is to buy either off lease or 1-3 year old trade-ins and get the extended warranty. In short, it saves me a ton of worry. We should make our cities car-free.
).I agree with a few things here. Buy a good condition 2-4 year old vehicle, and pay cash. MOST people actually. But nothing will take the sting out of driving up to a job interview or consulting job in a 17 year old 1990 honda accord…I have to come to terms with the fact that i am not in college anymore.With that said, i’ll have to agree with the previous statement about cars being a hunk of scrap metal. Did they drive the vehicle roughly? Also, you can negotiate the price of a used car, and usually easier too because some tool traded it in for a new one, and got next to nothing for it, so the dealer has more of a spread to work with.I’d like to see some numbers and actual data before I’d agree a new car makes sense financially.I post a comment this afternoon, and suddenly there are 27 others. big fat yes. Seems like you take the edge off the new car price and still get a dependable vehicle.Also, I liked Suzanne’s comments. one that has just passed the warranty limits. So a Toyota Sienna it would be.I did research used Toyota Sienna Limited models, and saw one in CA that was nice. I have an Accord also, bought new in 2004, costs $200 a month with a tiny downpayment. And in 2032 dollars to boot!So there are no absolutes. The driving factor behind this is the that their emissions (and therefore, annual car tax) are incredibly high. ... sources and think you know what your vehicle is worth, ... for five high-volume 3-year-old … Always.Now if you buy say a Crossfire or Solstice, keep it for 25 years until it is a bonafide antique car, and I want to buy that car 26 years from now, I am going to pay way more than you paid for it new.
And I can say first hand that a used car is a used car is a used car.Statistically speaking if you sell a car within the first year of buying it — something is wrong with it.Honda/Toyota/whomever can only guarantee so much on their “certified used”.
Because 21 years and 385000km later (about 240k miles) I’m still driving the same car, and still happy with it, and saving money.The car is a Nissan Pulsar, bought in Australia. I get 3 years of warranty coverage, years of hassle free new-car driving, I never get stuck with a lemon because some dishonest seller lies, and – over the life of the car – I pay less than if I’d had a series of crummy used cars needing repairs.
Taking the average price of these vehicles will give a good indication of exactly how much your car is worth.Another worthy side note – if you’ve got 3 listings at a similar price point, there’s a good chance that is a realistic valuation (rather than taking the average of £1,000, £1,250 and £1,500 to get a £1,250 average).Dealers get offered cars every single day, and they need to make a large margin to keep their doors open.How much your car is worth to a dealer, will depend on which specific dealer you go to.To get the best valuation for your used car from a dealer, you need to find a dealer that specialises in your car.