I’d like to know what people think about buying a used vs. a new car. I’m thinking of buying a Toyota Corolla LE. The True Market Value (from Edmunds.com) for a new one is around $17,000-17,600. I have seen 2010 models advertised for around $13,000-15,000.
If I’m going to pay cash, and I’m planning to keep the car for many years; am I really saving a lot buying a recent used model? They say Corollas don’t depreciate a lot. If I will only save a few thousand dollars, is it worth it? How much do I have to save to make it worth it? $2000? $3000? $4000?
I’ve often heard used is a better bargain. Is the cost of a new car ever a good deal? A new car will have a warranty and less repairs.
I don’t want to spend a lot of my money on a car, but I don’t like to deal with repairs either.
Are there experts I can talk to about this? What if I asked mechanics what they thought?