What car should I buy? I just got driver's license and have a family of 4 people. I am thinking of a brand new car but don't want to spend more than $25k. Currently on H1b visa so may be in the US only a few years. Any advice is much appreciated!

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Thanks P1 !!!

Hey, I can help!
Unless you are bound within Honda-Toyota rule there are multiple different options.
Search the inventory of nearest dealers in radius of 100 miles and check for 2020 new cars. You are very likely to find Hyundai, Nissan, Ford, Jeep, Buick, Dodge models at discounts as high as 9-10k.
As an immigrant you might be inclined towards Nissan and Hyundai more than other brands. I would strongly prefer a new car over used car.

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@M1, interested to listen your opinions on whether you will choose a new car over a 2-3 year old used car, with not so high mile-usage and most of the depreciation hit taken and also the dealer/manufacturer warranty being partially available? New car generally come with such a high premium, unless you are a car passionate guy and then your love for recentmost car features totally justify the high cost for a new car!

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If you just got here, you most likely have at least 3-5 years horizon left?

I’d start from your use cases.

E.g.

1. will you need 2 cars (1 to go to work, and another to drop off / pick up kids from school, after school? Then maybe get 2 used cars instead of 1 more expensive car.

2. Do you fancy taking weekend trips with your family to national parks, or e.g. Tahoe? Then get a SUV or at least a cross over.

New cars lose a lot of value immediately as you walk out of the dealership. Unless you will be keeping the car for 10+ years, it doesn’t make economic sense. A good used car (say 2-4 years old) will be MUCH more economical, you get almost the same features as a new car, and provide a lot of value for what you pay for it. Yes you might not get that new car smell (actually there are ways to get that too) but you end up saving 6-10k.

Look up Kelly Blue Book, or the other aggregators like Carmax or Cargurus - there will be plenty of inventory.

And if you really are buying a car for the long term, and don’t plan on upgrading every few years, then I’d recommend getting a Tesla or at least an electric car.

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Thanks PM1. Much appreciated. Do you mind elaborating on why having an electric car for long term use is better than regular car?

People told you to be away from the Toyota/Honda mindset but understand it has some worth. These cars/suv are built good and don’t need repairs past oil changes. I loved my 2 year old Toyota Camry so much that I bought a new Toyota SUV when I knew I needed one.

Have Honda and Hyundai. While Hyundai was cheaper while buying, the resale value of Honda is much better than Hyundai. Honda and Toyota definitely excels in that. I like the Hyundai tech better though. Japanese models have better resale value. I would check mid trims of crv, rav4 and rogue.

Thanks all for the info!!! I am debating between Honda Civic $22k and Toyota Camry $25k. Will have to do some research on it. Please let me know if you have any preference!!!

Agree with M2. Accord will be in the same size as Camry. If you will be going with Honda or Toyota, you should be good buying certified used car. I bought one in 2017 and never had a problem. It will save you some bucks compared to buying brand new. Also some dealerships offer some warranties as well.

I bought a used Charger GT for my first car and paid about 25k$ for it. Was the best decision (even in terms of value) until COVID hit an did not need to have a ca CD r. Was on F1 with dependent family as well . Take away is that you can buy the car you want within reason and not have a big impact on your finances.

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