Which SUV vehicle am I better off buying? New or used --I drive about 30,000 miles yearly for work.?

Question

I have $12,000.00 negative equity with my current vehicle. Am I better off buying a new Japanese-made SUV (Nissan, Toyota, Hyundai, Honda, etc which I can drive well past 100,000 miles) OR.... a luxury SUV such as an Infiniti with 85,000 miles already on it, with a ticket price of $14,500.00

I want my payments around $500.00 a month. Are luxury SUV's (Infiniti, Acura, Lexus, etc) likely to last with all the driving I do with high miles already on them? What about repairs on luxury SUV's? More expensive?

I don't want to pay any major repair bills once the 100,000 mile mark rolls around, which is why I'm trading in my current SUV (American-made) before anything happens with it.

What mileage based on my yearly driving, what would be a good mileage on a used SUV that would last me 3 years, 4 at the most. Japanese made only! I know lots of people who drive their Nissans, etc into the ground with no major repair bills. Any suggetions etc, will help. Thanks!

Answer 1

I would not get a new vehicle nor a luxury one. I think you will do well with a standard SUV by either Toyota, Nissan or Honda. I am partial to my 4-Runner, but here are the "not" reasons:

Not new - Depreciation, and it will not stay new for very long at all. You get past newness in about three to six months, at the rate you rack the miles.

Not upscale - Generally, the upscale models are more expensive because of creature comforts, not the nuts and bolts reliability. Your vehicle will have no resale value at the end, making upscale a bad investment, economically speaking.

What to spend on - Oil changes and other manufacturer-specified service intervals. Please give some serious thought to the use of synthetic oil. You need oil changes basically all the time, which is a nusicance and inconvenience. Synthetic oil should prolong engine life and extend the service interval.

A final word on that trade - By ditching your American vehicle with nearly 100K on it, you lock in your losses and your negative equity. By riding it out, it should give years of reliable service if it has been maintained properly. Highweay mileage is much easier on a car, even an American one, if well-maintained. Ditch the old car only if you have been sloppy about serviced intervals, and even then give some consideration to keeping it until something bad happens mechnically.

Good luck.

Answer 2

Hi, I've had a Tahoe for years, good car, but the trunk is small if you use the extra rear seats. if you don't, that's really only a 4-person car. I found it reliable, though I got a problem one day with the rear hatch, and another with an electric motor on the steering wheel. Chevrolet fixed both problems for free, and I've had no problem since. I used it for long trips, the engine is unkillable -- it's a V8, so it runs at low RPMs (revolutions per minute) which explains the relatively low gas consumption on the highway, and its durability. The weight of the Tahoe is an advantage on the highway (it's a very steady car even with strong side winds), but a disadvantage in town where it's gas mileage becomes terrible. I had two Toyotas Forerunners, and I must say these cars were awesome. I never had a Sequoia, but from what I understood from other drivers, its ride is more comfortable than that of the Forerunner. Toyota is known to make super reliable vehicles which hold their value for years. I personally never had any mechanical or electrical problem with either of my Forerunners. Their gas mileage was also much better than my Tahoe's, but these were lighter vehicles too. Both were fun to drive in town. The local Toyota dealership offered a reliable maintenance service, so both cars ran great for years and years. Since you plan on buying used, get hold of a copy of Consumer Reports' car edition. You'll see which Model Years not to buy.

Answer 3

Boss_alwi already gave a great answer, but to expand on it -- why are you giving up on your current ride? Just because it's going over 100k miles doesn't mean it going to suddenly break down. I know a guy with '95 Ford Explorer with over 200,000 miles that is still running strong. Trading it in now means you're giving away all that negative equity, when keeping it gives you a chance to get it back. It's like shaving off all your hair off because you're afraid you'll get a bad haircut. Any repairs you may have in the future will certainly amount to much less than the $500/month you're willing to spend on another car.

Answer 4

The SUV's you mentioned are the luxury versions of Nissan, Honda, and Toyota SUV's, respectively. They might cost more to repair, but they are just as reliable as their Nissan, Honda, and Toyota counterparts.

Answer 5

Honda CR-V