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Enthusiast
I need a job, please can someone assist me ?
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Rising Star
Pro
The new X7 looks like a faakin’ Kia….
Rising Star
Rising Star
Who has seen the viral flying Tesla??🤣🤣🤣
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1. Forget the graphic you have here. Most if not all cars depreciate with the exception of super rare vehicles not in most peoples wheelhouse.
Factors / Questions:
-What kind of car do you want?
-What is the market landscape new vs. used availability wise?
-How long do you plan to keep it?
-Are you financing or paying cash?
-If cash: what’s the all in budget?
-If financing: what’s the payment + down budget?
-For the above questions, what’s the price gap between new and used and the total cost difference given higher apr on a used purchase if you are financing? Will you save $?
-Given that price gap, are you ok to buy out of warranty / tail end of factory warranty? Factor some repair $ for future.
The call will then be pretty clear.
Usually it’s always best to buy used / gently used, with well maintained records no matter what. Extended warranties all have profit built-in. It’s usually cheaper in the long run to just pay to have a good reliable car fixed when it breaks.
If you are trying to put down as little as possible and make a payment, buying new a class down than you want might work best as it will keep your cash outlay lower and value maxed.
If you are a cash buyer, gently used all the way and make sure it’s well maintained. Someone else took the first hit on depreciation and you get the best years of the car.
If used and new is close $…. Because it’s in demand… new all the way. I’m not going to buy used to save 3-5 grand. I want to save at least 8-10k all in buying used.
Another exception to the general used rule: if you’re keeping a car a long time (more than 6 years) and the price gap new to used is not big and you are financing, you should buy new. Less unknowns and you are in control of the maintenance and apr is less and you are under warranty for most if not all of the payment term.
Good advice
If you're buying used, make sure you don't care if it runs for 10 minutes or ten years. Currently driving a 2003 ram I bought for $1000. 4 years now, no issues
Pro
If you're buying used, make sure you have a trustworthy mechanic look it over. You can get a good deal, but you can also end up with a money pit if you don't have an expert point out the problems.
Used cars are great if they had one or two owners who treated them right and kept all their records.
Try buying CPO and look at reliability reviews of the year and model you are interested in, some make and models used are better than some new cars, for example buy a 2018 Toyota Camry vs a 2024 Dodge Charger, I guarantee you will have a problem with the Charger before the Camry😂
New only, used cars come with some other guys farts in the seat