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Chief
Private sale, 4-5 years old. Used cars at dealers are overpriced now. I would not do repo.
You could get a decent priced lease on a new car. Lots of good lease deals now. If that's something you would consider.
Yup lease is also something I would consider. Heard someone get a 300$ on RAV4 but I feel like that’s nothing crazy. Now if I could get a rav4 for 200 , that would be great
Rising Star
Can't believe these 3 options are what you came up with lol
Highly recommend a certified pre owned Lexus that is ~5 years old with mileage around 50k. They are all so reliable and nice. Plus the certified Lexus program is best around. 2 years unlimited miles extended factory warranty and also free maintenance during that time. My buddy got a 21 NX for $29k and we also looked at a 2017 ES that was like $20k.
Crazy time we live in when a new accord is $40k lol I remember when they were $20k new
Not so crazy when you consider the inflation. But yeah I would still expect it to be 30k and not 40k
Depends on what you mean by cheap? In general, or in relation to the purchase price? Age matters most (in my opinion) in relation to the type of car you’re looking for — a 2 year old suburban means it’s only 2 years old and was driven 20K miles in a year (considered a lot) vs. a 6 year old German car that’s been maintained with 70K miles on it? I’d pick 6 years over 2 any day in that case. I also have a preference for used cars manufactured pre-Covid because supply chain issues significantly impacted auto quality and production across the market including in well known/reliable brands. It’s mostly bounced back but it’s still not 100%.
“Cheap” now usually means not cheap later, best value is a different question.
Also here to say that leasing is really not a bad option at all and there are some good deals BUT do your research on lease terms and insurance. If you lease a vehicle and then total it (potentially out of your control, crazy things happen!) early in the lease period, your insurance may assess the car lower than what you still owe on the balance for the lease period and you may have to pay the difference out of pocket.
Happy buying!
Pro
That last thing you mentioned…that’s why you should always get gap insurance on a leased car.
Get a good quality used vehicle that retains value and doesn’t need a lot of repairs over time (Honda, Mazda, some Toyota). Look at dealerships, carvana dot com, and Enterprise Car Sales- they sell their rental vehicles so they may have a lot of miles but they are only 1-3 years old
I have had amazing experience with an off lease car certified pre owned. No regrets. Fully loaded and without the 40% depreciation of the first few years of ownership if bought new. We don’t drive a ton so also not scared of deferred maintenance
EV lease deals, they practically pay you. Especially with the tax credit ending soon.
You could also buy a heavily depreciated EV. Many are losing half their value or more almost immediately. Just make sure the warranty is good.
If you don’t want an EV…leverage the other side of the depreciation equation. get a Toyota or Lexus as they’ll hold their value. It almost doesn’t make sense to buy a used one unless they’re 4-5 years old. Even then they’ll hold their value well if you take care of it.
https://forum.leasehackr.com/c/deals-and-tips/6
Chief
Friends and family discounts are not as significant as you think. Infact, sometimes you can get a better deal by taking something off their hands if you aren't picky about amenities, color. But still it's a new car that depreciates immediately when you drive it off the lot.
Cheapest is private used, but have a good mechanic you trust to check it out and see if you can buy an extended warranty.
Buy new bc YOLO
Rising Star
Definitely not 2, because you better be the guy who fixes the cars to buy a repo car. I would go with Toyota any day.
But if you want a German car, then go for used car.