+1 to ok4450’s comment.
When someone is in a near-frantic buying mood, it is far too easy to succumb to that annoying, “What can I do to put you in this car today?” question, usually uttered by a slick salesman wearing a shiny green suit.
My response is something along the lines of, “You can sell it to me for $5k off the sticker price, but since that isn’t likely to happen…why don’t we slow down the process, since I’m not in a rush to buy a car”.
That’s usually where the salesman makes the most money; I think they’re trained to sniff those people out.
A 9 year old car isn’t a piece of crap. New cars are nice, but as I showed, you can buy a new car and hold it until it is near the end of its useful life and there is NO way it will end up costing you more (or even anywhere close to as much) as leasing cars will.
I’ve ONLY ever bought new. Then I maintain the danged thing well and drive it until it is 15 years old or so.
I’ve Bought New And Used And Kept Them “Forever,” With Economical Results. The Key To This Is To Select The Right Used Car Or The Right New Car.
Not All New Or Used Cars Are Created Equal.
It’s A Little (Or A Lot) Trickier (And Riskier) Once The Car Has Had Previous Ownership.
CSA
there is NO way it will end up costing you more (or even anywhere close to as much) as leasing cars will.
I agree 100%…but there’s ONE person in this forum who still thinks leasing is the least expensive…even after we PROVED it to him it’s NOT.
Buy new or near new and maintain it well and it should give you 200k+ nearly trouble free miles.
CSA -
True, the right car will matter - but mostly in how much you save. Can you name one car where the expected monthly repair costs from year 7 through year 15 would average the $283.43 to end up with costs equal to leasing a Civic? That’s like replacing the transmission 9 times. I don’t think there’s a car on the market that is that bad anymore.
I’ve been avoiding this thread, primarily bacause of the title. If someone is buying tomorrow, it’s too late to add any good advice…except to take more time and get the car(s) chacked out.
But I did want to comment on the lease. Leaseing can have serious advantages for a business, because it is taken as a monthly cost rather than a capital equipment deduction, reducing profit, however it’s never a good idea for an individual. Let’s say you take ut a three year lease. You pay almost as much per month as the new car payment on a slightly less expensive car, yet at the end of what you have been a loan term you have nothing; nada; zero equity. The dealer comes and takes the car and you’re left without a penny you paid in.
Besides, which, if you get a ;emon, or you find the car is killing your back, or you just hate the car, or your situation changes over the next few years and it no longer meets your needs…you’re stuck with it. You can’t trade it, you can’t sell it, you can’t get resolution under the “lemon law”.
And if you get a ding in it, you MUST get that ding repaired…or pay dearly when the car gets turned in. You cannot say “oh darn, I hit the mailbox. Oh well, no big deal”.
And if you get a lease with a mileage limitation (they all have them) and you get that new higher paying job 30 miles from home…you are screwed. Your overmileage charges will soak up yuor entire raise…and perhaps more.
Leases are a terrible idea for private parties. No upside except a slightly fancier car, but lots of downsides.