I have had my 2012 since dec of 2011, I have not replaced anything that would have been covered by a warranty except possibly the $20 washer pump. I would rather have a good car than a good warranty.
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I know of someone who got $9k from an accident. Spent it all on a somewhat newer model Ford. Several months later now it needs nearly half that amount for a transmission. Currently with their limited income even after a year they probably still won’t have the funds to fix it. So there it sits.
So whatever you do, you should have that emergency fund of $4000 or so saved before you spend any money on anything other than even the basic necessities.
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A prepurchase inspection goes a long way to finding a reliable car too.
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There are “certified” used cars—or cars that dealers think good enough to add powertrain & partial bumper-to-bumper warranties. I know this, because I’m currently trying to buy a used car because prices went up (& are about to go up more at many dealerships due to tariffs) & my savings will not stretch as far as it once did.
On a used car, you also have the advantage of learning about its reliability by being able to check what recalls there were. I can do that because I subscribe to “Consumer Reports,” or you can just go to the free government website NHTSA.gov to check. There was a used car I really wanted to buy, but the seriousness and quantity of recalls made me refrain from buying.
Have you found that you can get a significant savings by paying cash?
And look what has happened to those who bought Teslas before this year!
Maybe you should consider a used Tesla. Depreciation was high to begin with and now prices have fallen dramatically. Many owners want to make a political/morality statement by selling them. I suggest a Model 3 Long Range or Model Y Long Range. I bought a base Model 3 two years ago and I’m happy with it. You aren’t helping Musk by buying a used car. Afraid of vandalism? Get a trunk magnet that expresses your dislike for Musk. I did.
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@KathrynK You asked what vehicle to buy Feb. 2020. Are you still looking ?
She had better hurry. The auto tariffs kick-in on April 3rd.
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I would like to think the tariffs only apply to goods trying to get into the country at a port of entry after the tariffs take effect. That anything already in the country, in transit to a dealer or sitting on their lot is not subject to the tariff (TAX). Do you know if that is the case?
I’ve been trying to buy one of the hotter make/model SUVs. They have an average of 8 days on dealer lots. Now they are being snapped up in transit or even in build phase. I suspect those that are in build phase or haven’t yet passed through a port of entry will soon have a 25% tax applied to them. That’s no bueno for me, I refuse to pay that…
That’s the way that things are supposed to work, but don’t eliminate the possibility of a greedy dealership hiking the price–inappropriately–on a vehicle that is in high demand.
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Nope. The whole purpose of tariffs is to increase the price of the “protected” goods, to make domestic supplies more competitive. Tariffs on imported cars = higher prices on all cars. Instant inflation, how nice…
Yup!
About 6 years ago, when tariffs hiked the price of washing machines made in Mexico, manufacturers hiked the price of 100% American washing machines by almost the same amount.
Im talking about the immediate effect and only tariff on foreign goods. I understand economics, just not how the tariffs will be applied at the onset.
Well, the imported 50% of cars sold in the US will suffer the tariffs beginning on April 3, and US-built cars using imported engines, transmissions, and other parts will suffer them beginning on May 3. When and how much dealers will raise prices, who knows? But they will, no doubt.
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I understand that some vehicles cross the Mexican border several times. Does that mean that a tariff is paid each time a vehicle crosses the border? That’s a tax in each direction because of reciprocal tariffs.
Wife finally gave up her 07 Lexus and bought a new Toyota Crown. So now my Highlander is the only vehicle in the family with ove 220k miles.
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How will this affect the domestic brand cars that were built in China and South Korea?
What about foreign brand cars built in the USA, such as the Kentucky-built Camry I bought in February?
Brand doesn’t matter, location of construction matters, so plenty of Fords and GMs will pay tariffs. BMWs made in the US won’t, for example, except if their engines, etc., are imported.
What a disaster.
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I’m not sure if my powertrain was also built here . . .