I need to buy an auto and have between 10-15k to spend. The question is, should I buy a new affordable car like KIA because of the warrenty or a used car less than 5 yrs. old. I am trying to save money and get a reliable car at the same time.
Oops. I meant low rent new vs used
You don’t say what type of car you are looking for (sedan, coupe, van, etc.) or how you will be driving it. I’d suggest a three-year-old Hyundai Sonata.
When you buy a new car you get new tires, a fresh battery, new belts and hoses, even new wiper blades. The transmission fluid should be good for 30,000 miles. The brakes pads will be new. A car with 50,000 miles is often ready for new brake pads, a transmission oil and filter change, possibly new tires, etc.
If a new affordable car fits your needs, this may be the way to go.
Well, the first thing we should do is look at the couple of vehicles in that price range.
What you should do is figure out which one of these vehicles fits your driving preferences, and see how it feels when you are behind the wheel.
Then you should look at other things, like how much it costs to do services on the car, and which ones require timing belt changes, and at what mileage points that they need that done at. I believe the Nissan Versa is the only one that has a timing chain, so doesn’t require periodic changes.
Then, after you have decided which car you are going to buy, you then have to determine which way you are going to buy it? Do you have the cash to purchase outright? Do you need to finance?
Then call up all the local dealers within 200 miles of you that you feel like calling (and have searched on the internet first to see complaints against, and rule out), and tell them you are buying a new XXXXXXX at the end of the week, and you want the best OTD price, period.
Then you buy, and enjoy your new car.
As, for example, twotone has suggested a 2-3 year old Hyundai or Kia is your best bet.You’ll get a vehicle that is still under the excellent warranty (check if the requirements for the warranty have been met - some components of these excellent warranties also don’t transfer to new owners - do your research - maybe you need to buy it from a dealer). And while still being covered under the excellent warranty they have taken to most depreciation hit already.
I am no expert on what happens to these warranties if the 1st owner sells the car but this is what I would research.
A four door like the size of a Camery
A third good option to a traditional “used” car is to look for rentals being sold off by rental car copanies. Most late model “used” cars that were privately owned are back on the lot for a reason, and you risk buying someone elses problem. Rental companies sell cars to keep their fleets current, and most of them have absolutely nothing wrong with them.
The bumper-to-bumper warranty will transfer, with its numerous exclusions (paint, stereo, and a few other items will have little to no warranty left). The 10 year powertrain warranty does NOT transfer, and is of no value to any purchasers of used Kias or Hyundais.
I don’t think you can get any new car “Camry” sized for $15K or less. Add sales tax, title & registration, and insurance and you’ll be far over budget. A Camry sized new car is going to be in the $20K range.
$10 to 15K puts you in the very “compact” sized new cars, or a 5 year old Camry sized car.