Financially, is it better to buy a new or a slightly used car?

Answer 1

It is usually better to buy a slightly used car than a brand new one, but it depends. Check with Consumer Reports, or something similar, because they not only rate new cars but a they also go back and rate how cars have done after a few years. This can help warn you away from any models with design problems. Also, it's cheaper to buy the used car in the first place. The only thing is, if you are getting a used car, take it to a good mechanic and have them look it over before you buy it just to make sure there aren't any problems. The other way you can save a lot of money is if you can afford to but the car without a loan. Even with a low interest rate, you will wind up paying more in the long run than if you save up ahead of time (or at least pay as much of the price as you can up front, because the smaller the loan, the less extra you will pay in interest over time). Good luck.

Answer 2

Something I never hear people talk about when discussing this is the cost of taxes and insurance with new cars. In most cases I think they are easily more than any maintenance a used car would bring. Add that to the obvious premium price of a new car and the overall cost is huge. I see the only reason to buy a new car as status and after a few years that is gone. The ideal car financially would be a car several years old with very low miles. Of course there is a premium for this, but the lower taxes and insurance would quickly make up for that.

Answer 3

There are pros and cons to both. New usually have lower interest rates, but they depreciate as soon as you drive them off the lot. New you get to pick and chose exactly what you want, used you have to go with what is out there. Aftermarket add ons, are not as good as factory, and usually more expensive. Leak, don't fit properly, always aftermarket, not original equipment. New car warranties are a great deal better than used or even slightly used vehicles. It is still considered a used car. And usually used car warranties are more expensive than new ones, no matter how "slightly used" it is.

Answer 4

Buying a new car is not a really good move financially, because as soon as you drive it off the lot it depreciates a whole bunch. For my money, I'd rather someone else have the headaches of depreciation, all the inspections and stuff.
My vote is financially it's smarter to buy a really good used car at a really good price.

Answer 5

Each side has it's pros and cons. A new vehicle comes with warranties and no mileage, lower interest rate and that new car smell that we like so much but the car will depreciate quickly, as was my experience with a Saturn Relay. With a used vehicle you will have to give up some of those advantages but your monthly payment will be a lot lower, you can buy a warranty on the side from the dealership and it is like having a brand new vehicle

Answer 6

Used! Always, always, ALWAYS.
The second you sign the dotted line for a new car you LOSE 20% of the value. One year later, you lose another 15% and another 15% the year after that. You can buy a hell of a lot of maintenance and repairs on a good used car for a fraction of the money you lose through depreciation on a new one. There are millions of low mileage, good cars out there so take your time and find the one that's best for you and let some other dope take the ************ on the cost.

Answer 7

NEVER buy a new car, the minute you drive it off the lot you have lost tons of money, they depressiate horribly, in an instant you have lost thousands of dollars, buy one that is a few months or maybe a year old, try to stay under twenty thousand miles if possible on mileage and you will do great and never regret it, check on the cars that hold thier value, one of the best right now on the market is the Toyota Corrola. Good luck.

Answer 8

Choose a good quality used car. I purchased a great used car from Hertz car sales and it lasted more than ten years but recently I made the mistake of buying a new car. The payments are very painful! Please stick with a slightly used car because you'll never regret it, but be sure to get it from a reputable source. Good luck!

Answer 9

A used care is a better buy. Cars depreciate so quickly if they are new, basically as soon as you drive it off the lot the are worth a lot less! Try and find a great car that is less miles. Good Luck!

Answer 10

It all depends on the numbers! Usually used is better, but if the manufacturer is offering cheap or zero financing that can make the new car cheaper and your payments less. You have to weigh ALL of the factors including warranties. If you saved $2,000 buying used and it needed $3,500 in repairs that YOU had to pay, you lost out.Good luck!