Quote: (09-14-2011 07:14 PM)wi30 Wrote:
Buying a new car is one of the biggest financial mistakes one can make. You instantly loose a couple grand the second you drive it off the lot. I recommend looking at certified pre-owned vehicles since you save 20-40% off the initial cost due to the couple years of depreciation. Many of them also are fully covered with warranties and have gone through every inspection. Find one with low miles and only a year or two old. They hardly change anything between model years so a buying a '09 wouldn't be much different than the '11 model.
I recently upgraded from a run down '02 Dodge Neon to an '07 Ford Taurus. It wasn't certified pre-owned though and has had a couple owners but the dealer took care of everything. I couldn't be happier with it.
There is no need to buy a brand new car unless you have a massive bankroll or you are going through a mid-life crisis.
Most of the time, you'd be right, but many used cars are overpriced right now. Cash for Clunkers took a lot of used cars off the market. I bought a car 5 months ago, and in doing my research, I read reports of cars that had actually gone up in price. That means, say a 2008 Ford Explorer cost more in 2011 than it did in 2010! That's crazy. Plus financing on new cars is often better.
If you buy a car that's several years old, then you'll still save a lot of money. I'm gonna pimp my car, a late model Lexus LS 400. One of the most reliable luxury cars ever made. You can hardly tell it's moving.
Would you rather have an old plush leather chair, or a new shitty plastic one from Ikea? That's the choice you have when buying cars, given the same budget. For me it's a no brainer, I'll always take the plush chair. As long as the car runs, the car's age is completely irrelevant. I was just getting a haircut, and a fellow patron said he bought a Rolls new 37 years ago, and is still driving it. All I could think was, damn, what a G.
Used Jags are amazingly cheap, but expensive to maintain. A used Cadillac DTS is another good option - more reliable than Jags, and depreciate about as fast. For reliability and higher used prices, there's Lexus, Acura and Infiniti.