{ "media_type": "text", "post_content": "Buy a new car or used? Looking to keep for 5+ years. 2016 Pilot/Highlander seem most affordable ~30k.", "post_id": "5828b36ec30c830f00a4d9db", "reply_count": 21, "vote_count": 1, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting", "feed_type": "crowd" }
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Buy a new car or used? Looking to keep for 5+ years. 2016 Pilot/Highlander seem most affordable ~30k.

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Buying a new car is for rich people who know they're getting a shitty deal, but just want the newest shit. The car literally loses 20% of its value the second you drive it off the lot. Are you rich enough to not care about the cost because you want the newest shit? If yes, than by all means buy new. It's nice to have the newest stuff.

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I keep my cars for 8yrs at a time. I always buy 1-2yrs old and CPO if possible. Just bought a 2015 BMW 328i with 24k miles on it last month for $23,500. Certified pre owned with a 6yr/100k warranty. MSRP on the car new was $47,280. So saved almost half off. Dumb to buy new.

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Eh, one or two year used one won't be much different than a new one.

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^you have increasing income plus you seem like someone who wants the newest stuff. You want a new car over a similar used car because it's newer and you want the newer model and features. Are you really going to keep this car 10 years when everyone else has electric cars with auto driving features like Tesla?

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Get a new car. You need to spoil yourself once in a while. Can't take the money with you when you die.

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I'm a bigger advocate for buying a CPO 1-2 year old Infiniti QX60 with around 20,000 miles....good extended warranty and it will cost around the same $30k for the Honda. Something with a little more luxury too

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Lease

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Most Honda/Toyota CPO with not too many miles on it are just 3-4K less. Wouldn't it be worth putting in that additional 4K to start the car at <100 miles?

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And no the 4K is not worth it. Cars nowadays can go for 200K+ miles. Used cars get full inspections and are basically like new. 10K miles on a car is basically new, except you know it's not a lemon.

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Yeah but it's like throwing away money. If I owned the car by year 5, I'd stretch that another 5-7years with no car payments just insurance plus general maintenance. Whereas for lease, I would be on hook for always @ ~300 per month (excluding ins)

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I think we are on the verge of a massive shift in how people commute and that once the shift comes you probably won't want your 2016 Honda anymore.

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All new cars depreciate in value once driven off lot. Here's a deal I had but turned down - 2013 Honda Pilot with 37k miles @ $25k. 2016 Honda Pilot with <100miles @ $29.9k

Bought my car new. Sometimes I regret it. But then again, I drive a lot and I get to enjoy it every day. Plan to keep it until I'm an old man.

I really think leasing is the way to go. Technology is increasing so rapidly now, it doesn't make sense to buy something that has a 12-15 year useful life. The car you buy today could be outdated in 5 years.

Fair enough ahah. Lease now. Drive Tesla later.

Lease

Yeah but after 5 years.. electrical / maintenance issues are more likely to arise. So the money you'd be paying for fixing the car - you can just get a new car every 3 years with upgraded safety features every time too. Cars are more disposable now than ever.

New. ALWAYS new! Especially if you are considering a Honda or Toyota. Usually you can get many thousand off the sticker (even below invoice) if you are good with negotiations. My spouse works in the car business and dealerships make volume incentives on new inventory. That's how they sell them below invoice. Plus you can typically get a great interest rate (and sometimes even 0%). Buying certified pre-owned (for a Honda or Toyota) is a complete waste

^why would buying a certified pre-owned vehicle with 95% of its remaining useful life for a 20% discount be a waste?

^not everyone has a husband that works for a car dealership that knows he invoice price of the vehicles. Either way I still think leasing is the way. Eventually the technology is going to rapidly change and I don't want to be stuck with an old tech car. Look at phones. How many people still have a Motorola Razr? Flip phones were only 10 years ago. Now we flip out if we get only 3G instead of LTE.

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