mbieszck
Main Eventer
Joined on: Dec 1, 2005 2:18:15 GMT -5
Posts: 2,350
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Post by mbieszck on Dec 11, 2007 21:40:06 GMT -5
Ok I have been at my job now for about 10 month's and make good money. been thinking about getting a car when i get my taxes.
My question is would it be better to get a new car or a used car and why??
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Post by stylesclash9 on Dec 11, 2007 21:44:05 GMT -5
if u can find a used one in good condition with low miles, just go with that because it would be cheaper than a brand new car....
Common sense here!
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Post by Hulkamaniac on Dec 11, 2007 22:16:41 GMT -5
Never ever ever buy a new car. You get spanked on depreciation and you get stuck with huge payments. Save some cash and buy a decent, reliable used car. You can get a good used car for $2-3k anymore. You don't get slammed on the depreciation and someone else has already worked out the bugs. Just make sure you get a mechanic to look it over and make sure you pay cash for it.
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Post by John Zero on Dec 11, 2007 23:10:06 GMT -5
Never ever ever buy a new car. You get spanked on depreciation and you get stuck with huge payments. Save some cash and buy a decent, reliable used car. You can get a good used car for $2-3k anymore. You don't get slammed on the depreciation and someone else has already worked out the bugs. Just make sure you get a mechanic to look it over and make sure you pay cash for it. My car is brand new, has a good resale value and I have pretty low payments for someone my age. You must have just gotten screwed. |
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Post by Hulkamaniac on Dec 12, 2007 2:00:04 GMT -5
Never ever ever buy a new car. You get spanked on depreciation and you get stuck with huge payments. Save some cash and buy a decent, reliable used car. You can get a good used car for $2-3k anymore. You don't get slammed on the depreciation and someone else has already worked out the bugs. Just make sure you get a mechanic to look it over and make sure you pay cash for it. My car is brand new, has a good resale value and I have pretty low payments for someone my age. You must have just gotten screwed. I bought my car about 3-4 yrs ago. It's worth about $15k less now than it was when I bought it. I basically paid $15k for the warranty which is obviously way too much. Plus, I was stuck with payments for those 3-4 years. If I had just stuck that money in a savings account each month I'd have $20k+ and some interest in change. If I'd have invested it I'd have a whole lot more than that. I would've been much better off buying a $4-5k car and not had any payments. |
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Post by ericbischoff on Dec 12, 2007 3:31:31 GMT -5
If it's your first car, so best buy used car for while. To getting used on the road, etc. Then buy brand new car sooner or later. That was what I do. I currently driver on my mum car. But my insurance was cover her insurance, though.
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Post by ● kaneisdaman ● on Dec 12, 2007 8:01:35 GMT -5
Well as Hexus suggested, buy a used one if you are only learning or new to the roads.
If not i say get a new car. Invest in one and spend the money on it but only if you are going to commit to the inention to use that car for many years and not throw it away because it is out of style. If you are willing to have this car for a descent time, buy a new one. But if it is only intended for a short term thing, get a used one.
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Post by Hulkamaniac on Dec 12, 2007 12:28:37 GMT -5
Well as Hexus suggested, buy a used one if you are only learning or new to the roads. If not i say get a new car. Invest in one and spend the money on it but only if you are going to commit to the inention to use that car for many years and not throw it away because it is out of style. If you are willing to have this car for a descent time, buy a new one. But if it is only intended for a short term thing, get a used one. Completely and totally disagree. A car can't be thought of as an investment. Any car you buy is going to go down in value and you can get a reliable car used. This is just my honest opinion based on my personal experience. I've owned used cars and I've owned new cars. If my car crashed and burned today I wouldn't even consider buying a new car again. I just don't have that kind of money to throw away when I could be investing it. Again, that's just my honest opinion and you can take it for whatever it's worth to you. |
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Post by wcw24 on Dec 12, 2007 14:06:17 GMT -5
Never ever ever buy a new car. You get spanked on depreciation and you get stuck with huge payments. Save some cash and buy a decent, reliable used car. You can get a good used car for $2-3k anymore. You don't get slammed on the depreciation and someone else has already worked out the bugs. Just make sure you get a mechanic to look it over and make sure you pay cash for it. My car is brand new, has a good resale value and I have pretty low payments for someone my age. You must have just gotten screwed. New cars depreciate $5K-$7K the minute they are driven off the lot, so you got screwed! |
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Post by addam on Dec 12, 2007 14:22:28 GMT -5
Well as Hexus suggested, buy a used one if you are only learning or new to the roads. If not i say get a new car. Invest in one and spend the money on it but only if you are going to commit to the inention to use that car for many years and not throw it away because it is out of style. If you are willing to have this car for a descent time, buy a new one. But if it is only intended for a short term thing, get a used one. Completely and totally disagree. A car can't be thought of as an investment. Any car you buy is going to go down in value and you can get a reliable car used. This is just my honest opinion based on my personal experience. I've owned used cars and I've owned new cars. If my car crashed and burned today I wouldn't even consider buying a new car again. I just don't have that kind of money to throw away when I could be investing it. Again, that's just my honest opinion and you can take it for whatever it's worth to you. i always prefer to get new cars. granted the depreciation on a new car is extreme, but you don't buy a car as an investment, you buy it for reliable transportation therefore taking the depreciation out of the equation. you're going to get better mileage, less nickel & dime hassels from parts breaking cause they're old & no major unexpected breakdowns or severe mechanical problems with a new car (which even if you do, new cars have warranties so you're probably going to be covered.) so yeah, i always buy new & trade in at the end of payments, take my piddly $2,000 or whatever they give as trade in and use it as down payment to buy another new car. there's nothing worse than getting stuck with a horrible used car. i bought a used car once & it was fine when i got it, but after about 8 months stuff started breaking on it. i was spending hundreds & hundreds of dollars a month including maxing out a 2,000 goodyear credit card & 2 other credit cards i had just to keep it running cause i spent all my saved money i had to buy it in the 1st place. saving money by buying that used car put me thousands of dollars in debt and forced me to file for bankruptcy. |
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Post by T R W on Dec 12, 2007 14:25:58 GMT -5
I've had much better experiences buying new cars than used cars. Usually, by the time you buy the used car, is when all of the maintenance is coming due, so granted, you spent less on the car, but you don't get that 5 years of nothing but changing oil, tires, and brakes.
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Post by -Edge- on Dec 12, 2007 14:44:21 GMT -5
if ur a new driver, get a used bc ur new and probably make mistakes and u might not wanna damage a new car while hurting a used car may not mean as much
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Post by Hulkamaniac on Dec 12, 2007 22:34:49 GMT -5
Completely and totally disagree. A car can't be thought of as an investment. Any car you buy is going to go down in value and you can get a reliable car used. This is just my honest opinion based on my personal experience. I've owned used cars and I've owned new cars. If my car crashed and burned today I wouldn't even consider buying a new car again. I just don't have that kind of money to throw away when I could be investing it. Again, that's just my honest opinion and you can take it for whatever it's worth to you. i always prefer to get new cars. granted the depreciation on a new car is extreme, but you don't buy a car as an investment, you buy it for reliable transportation therefore taking the depreciation out of the equation. you're going to get better mileage, less nickel & dime hassels from parts breaking cause they're old & no major unexpected breakdowns or severe mechanical problems with a new car (which even if you do, new cars have warranties so you're probably going to be covered.) so yeah, i always buy new & trade in at the end of payments, take my piddly $2,000 or whatever they give as trade in and use it as down payment to buy another new car. there's nothing worse than getting stuck with a horrible used car. i bought a used car once & it was fine when i got it, but after about 8 months stuff started breaking on it. i was spending hundreds & hundreds of dollars a month including maxing out a 2,000 goodyear credit card & 2 other credit cards i had just to keep it running cause i spent all my saved money i had to buy it in the 1st place. saving money by buying that used car put me thousands of dollars in debt and forced me to file for bankruptcy. I've had the opposite experience of you. Factor in that I absolutely hate making payments. I'd rather put the money in my own pocket. You're right that there are some used cars that are absolute dogs and not worth it at all, but there are a lot of really nice reliable used cars out there. If you buy a used car that's only 3-4 yrs old you don't take the butt kicking in depreciation, but you're (usually) not getting anything that's so beat up and worn down. Again, I would highly recommend you get it looked at by a trusted mechanic and I'd never buy anything that had been totalled. My new car I bought cost me more than any used car. I ended up paying $300 a month for about 4 yrs on that thing. Plus I had to cough up a $5k downpayment on top of that. New cars loose something like 60-70% of their value right off the block and there's no way now I could get back what I paid for it. While I agree that you're ultimately looking for reliable transportation I think you can get that from a new or a used car. I think a used car is a much more economical decision. Most rich people buy used cars. I will also toss out there that whatever you do you don't want to lease a car. It's the most expensive way to operate a vehicle. |
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Joined on: Nov 29, 2024 7:39:27 GMT -5
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Post by Deleted on Dec 13, 2007 1:27:09 GMT -5
i always prefer to get new cars. granted the depreciation on a new car is extreme, but you don't buy a car as an investment, you buy it for reliable transportation therefore taking the depreciation out of the equation. you're going to get better mileage, less nickel & dime hassels from parts breaking cause they're old & no major unexpected breakdowns or severe mechanical problems with a new car (which even if you do, new cars have warranties so you're probably going to be covered.) so yeah, i always buy new & trade in at the end of payments, take my piddly $2,000 or whatever they give as trade in and use it as down payment to buy another new car. there's nothing worse than getting stuck with a horrible used car. i bought a used car once & it was fine when i got it, but after about 8 months stuff started breaking on it. i was spending hundreds & hundreds of dollars a month including maxing out a 2,000 goodyear credit card & 2 other credit cards i had just to keep it running cause i spent all my saved money i had to buy it in the 1st place. saving money by buying that used car put me thousands of dollars in debt and forced me to file for bankruptcy. I've had the opposite experience of you. Factor in that I absolutely hate making payments. I'd rather put the money in my own pocket. You're right that there are some used cars that are absolute dogs and not worth it at all, but there are a lot of really nice reliable used cars out there. If you buy a used car that's only 3-4 yrs old you don't take the butt kicking in depreciation, but you're (usually) not getting anything that's so beat up and worn down. Again, I would highly recommend you get it looked at by a trusted mechanic and I'd never buy anything that had been totalled. My new car I bought cost me more than any used car. I ended up paying $300 a month for about 4 yrs on that thing. Plus I had to cough up a $5k downpayment on top of that. New cars loose something like 60-70% of their value right off the block and there's no way now I could get back what I paid for it. While I agree that you're ultimately looking for reliable transportation I think you can get that from a new or a used car. I think a used car is a much more economical decision. Most rich people buy used cars. I will also toss out there that whatever you do you don't want to lease a car. It's the most expensive way to operate a vehicle. Majority of the people I know with money just pay cash for their new vehicles. Most new cars lose 20% of their value within the first year, look it up. |
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Post by Mark on Dec 13, 2007 1:38:11 GMT -5
Theres a secret I was taught, if you actually pay in cash at the dealership and ask if you can get some type of discount since you're paying with cash, the floor sales manager is more than likely willing to slash a few digits off and bargain with you.
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Post by Hulkamaniac on Dec 13, 2007 1:45:07 GMT -5
I've had the opposite experience of you. Factor in that I absolutely hate making payments. I'd rather put the money in my own pocket. You're right that there are some used cars that are absolute dogs and not worth it at all, but there are a lot of really nice reliable used cars out there. If you buy a used car that's only 3-4 yrs old you don't take the butt kicking in depreciation, but you're (usually) not getting anything that's so beat up and worn down. Again, I would highly recommend you get it looked at by a trusted mechanic and I'd never buy anything that had been totalled. My new car I bought cost me more than any used car. I ended up paying $300 a month for about 4 yrs on that thing. Plus I had to cough up a $5k downpayment on top of that. New cars loose something like 60-70% of their value right off the block and there's no way now I could get back what I paid for it. While I agree that you're ultimately looking for reliable transportation I think you can get that from a new or a used car. I think a used car is a much more economical decision. Most rich people buy used cars. I will also toss out there that whatever you do you don't want to lease a car. It's the most expensive way to operate a vehicle. Majority of the people I know with money just pay cash for their new vehicles. Most new cars lose 20% of their value within the first year, look it up. You're right and I misspoke. I meant the first 3-4 years, not the first year. I looked it up. New cars lose 20% of their value within the first year and approximately 70% of their value within the first 3-4 years (which is about the length of a car loan give or take). |
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Post by ● kaneisdaman ● on Dec 13, 2007 2:36:41 GMT -5
Well as Hexus suggested, buy a used one if you are only learning or new to the roads. If not i say get a new car. Invest in one and spend the money on it but only if you are going to commit to the inention to use that car for many years and not throw it away because it is out of style. If you are willing to have this car for a descent time, buy a new one. But if it is only intended for a short term thing, get a used one. Completely and totally disagree. A car can't be thought of as an investment. Any car you buy is going to go down in value and you can get a reliable car used. This is just my honest opinion based on my personal experience. I've owned used cars and I've owned new cars. If my car crashed and burned today I wouldn't even consider buying a new car again. I just don't have that kind of money to throw away when I could be investing it. Again, that's just my honest opinion and you can take it for whatever it's worth to you. I totally understand what you are saying and it is your opinion no doubt about that. But i have to stand by what i said and as addam said (partially). When i said invest in one, i meant spending that extra money on a new car with the intention to use a lot of its potential. By paying that extra money for a new car and if you intend to use it for a long while, it is worth 'investing' in it than just taking what you get with a used car. Yes a new car depreciates but if it transports you well and you know the cars history from beginning to end, then it can be very reliable. Personally, i dont like used cars. There is that unknown and uncertainty about it despite being declared mechanically sound. Yeah sometimes you may get a way with a steal (not as in theft but a good price for a good car) but it only takes one time to really make you question used cars. For learners they are ideal though. That being said new cars are expensive but never pay 'face value'. You say if have x amount and thats what i am willing to pay, what can you do. A dealer can generally add things or dicount the price for you particularly if paying cash. Bargaining with the dealer is a big yes in buying a new car. |
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Post by Hulkamaniac on Dec 13, 2007 4:15:34 GMT -5
Completely and totally disagree. A car can't be thought of as an investment. Any car you buy is going to go down in value and you can get a reliable car used. This is just my honest opinion based on my personal experience. I've owned used cars and I've owned new cars. If my car crashed and burned today I wouldn't even consider buying a new car again. I just don't have that kind of money to throw away when I could be investing it. Again, that's just my honest opinion and you can take it for whatever it's worth to you. I totally understand what you are saying and it is your opinion no doubt about that. But i have to stand by what i said and as addam said (partially). When i said invest in one, i meant spending that extra money on a new car with the intention to use a lot of its potential. By paying that extra money for a new car and if you intend to use it for a long while, it is worth 'investing' in it than just taking what you get with a used car. Yes a new car depreciates but if it transports you well and you know the cars history from beginning to end, then it can be very reliable. Personally, i dont like used cars. There is that unknown and uncertainty about it despite being declared mechanically sound. Yeah sometimes you may get a way with a steal (not as in theft but a good price for a good car) but it only takes one time to really make you question used cars. For learners they are ideal though. That being said new cars are expensive but never pay 'face value'. You say if have x amount and thats what i am willing to pay, what can you do. A dealer can generally add things or dicount the price for you particularly if paying cash. Bargaining with the dealer is a big yes in buying a new car. I know what you're saying about the reliability, but I think you can get the same thing in used cars as well. New cars aren't always a guarantee. I know people who've bought new cars and they turned out to be lemons. I know people who've bought used cars and they turned out to be lemons too. It can sometimes be a crap shoot either way. There are a lot of reliable new cars out there, but there are a lot of reliable used cars too. I say whichever way you go to pay cash for sure. I'd never make payments on anything that depreciates as fast as a car does. To me that's beyond foolish. Say you're in a wreck and total the car 2-3 yrs down the road. The insurance company will pay you for the value of the car, not the ammount of the loan. You can end up paying on a car you no longer own and physcially can't drive if you want to. I know a guy who's in that situation right now. |
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