OK. I’m really trying to understand something here.
For example, a new 335i is like $50,000 (plus TTL) right? One year old cars are selling for $38-$44k…
With the amount of money you lose in resale when you drive off the lot, it doesn’t make fiscal sense to me. Unless you’re one of those people who keep your cars for an eternity (does anyone do that anymore?).
I just don’t get the massive financial hit people take when buying new vs a couple years old. :zip
Course, I have never had the money to waste on buying something freshly new. I also put a lot of miles on my vehicle per year.
Posted on another forum, curious of your responses. :lmao
I will never buy a BRAND new car unless it’s something like a Fiat 500 which is under $20k.
My M retailed for 60k when new and I got it with 32kmi after it’s been around for 3 years for literally half that. Saved a butt load of money. Would do the same thing again.
My X5 is the only vehicle I bought new and prolly will be the last. I got a great deal on it and it holds it’s value well, otherwise I would’ve bought used considering for just a couple grand more I could have brand new. Plus I think everyone should have that experience of buying a new car. It is a great feeling to be honest.
Because its much, much easier than searching/evaluating/buying a used car. And if you’re in the 335 range, you dont care about losing $10k in year 1. Also lease deals can often make it a no brainer. For me, it’s usually smarter to do company vehicles new.
If you’re smart enough to realize the $ savings and feel like doing the work and feel like learning all about the process, you’d buy used. For everyone else, ooo shiny things and warranties I’ll take two.
$20 says you get much different average answers on BFC.
It depends what you buy. Luxury cars are always the quickest to decrease in value. When i bought my tacoma i looked for a used one that was 1-2 years older at first. They were all nearly the same price as the ones brand new on the lot, and the used ones had zero modifications and 30k or so miles on them. I paid 29,500 for my tacoma brand new, that was 20 months ago, if i put my truck into kbb in stock condiition it says private party is 29,000
I bought my jeep back in the day BN, in 05. Payment was $13 less than what I paid for with my used jetta. Warranty didnt expire, and never had any issues getting things fixed for free. Kept an eye on KBB/trade in VS what i owed and didnt let it get ahead of me. Traded it in on the used Jetta a few years back, didnt put a dime down. That was a CPO and again didnt have any warranty issues getting things fixed for free.
ONLY, if you can put enough down, assume it holds its value ok, stay on top of said values, and dont rack up miles to kill the warranty its 100% worth the price of a new car.
some people who are tight on money with short commutes or knowing they will stay with the warranty till it runs out time wise, can afford to pay a steady car payment but cant really afford to drop $500+ on it everytime something shits the bed if it wasnt covered by warranty.
Not always. The CPO warranty have taken a turn for the worse recently. VW for example. My 04, bought back in 06 had 28kmi on it when I got it. About 2 years and another 22Kmi warranty was transferred to me upon purchase. AND when that expired I had another 3 yr, 70kmi (irc) on the VW CPO warranty. Covered me 5 years and up to about 100kmi on the clock.
My wife bought a 07 passat with 22kmi, less than a year ago CPO. transferred the 48mo/50,000mi to her, which expired recently (yrs wise), and apparently the CPO takes effect at the time of purchase, NOT what I assumed like my 04 jetta did a few years back. My mistake for assuming that. The new CPO is 2 yr 24kmi. which is a joke. Ave commute is 20 miles one way, so a year is 10,400 miles LESS everyday driving around.
Maybe I dont remember the VW CPO details back 5 years ago. But I really think they were WAY better than the 2/24 they have now.
I bought my Infiniti two years used with 22k and have had 0 issues so far. I got a really good deal on it at an auction in CT so that was the majority of the reason why I went used and not new.
As others have said, most vehicles depreciate so damn much as soon as they’re driven off the lot that it doesn’t make sense to buy used unless you’re leasing or buying a truck.
I’ll be looking to get a newish Silverado 2500 HD Duramax next spring/summer, from what I’ve looked at online I’m thinking I’m better off going brand new then trying to buy used. It really is amazing how well some trucks hold value in comparison to cars.
