I’d rather pay $200-300 a month for a new car that i had my eyes on knowing it wont let me down cause its a pos, then own a used car that i continue to dump money on and wonder when its gonna leave me stranded or make me bum a ride to work.
Like i said before, if its a sports car you want, a type of car that gives one the reason to beat on id go with new all day.
No DD is a good investment. If you buy a car for investment reasons then just buy a bicycle. It will too get you from point A to B.
There are some other things about having an old car that are a big turn off to me.
-Major repairs cost the same as or more than the value of the car. You’re stuck either dumping more money into it than you can sell it for, or scrapping it.
-Any minor accident is going to result in either the car being totaled if you have insurance, or you being SOL if you don’t
-Creature comforts. Interiors have come a long way in the last 10 years. Stuff like satellite radio, heated seats, and dual-zone climate control weren’t prevalent 10 years ago.
-Power. Most cars before the middle of this decade had 200hp or less. Now almost everything has 300+.
For the record, cars are never ever ever investments. They are expenses. New, used, classic, whatever. You are spending money to fill a need AND satisfy a want. You NEED transportation and you WANT it to be XXX.
Same with housing, but that’s an argument for a different thread…
Your assuming now (or just wording your post based upon the assumption), that used cars are ALL 10+ year old POSes.
Buying a few year old (like 06+) car can be MUCH more cost effective. I saved like 5 grand on mine.
completely disagree, please start a new thread…it will give us something to do
Right. I have no problem with buying a few year old car. In fact, my plan is to buy an 09 CPO CTS-V when my lease is up if they ever start depreciating. Someone alert the public that it’s a Cadillac and should be worth $20k less by now. :lol: It was more all of these people driving really old/cheap stuff and saying it’s a better financial decision.
You can save $20k on an 07 335i with under 30k versus an equally equipped 09 335i. The 07 still has a warranty, sounds like it’s worth it to me.
It’s funny, I don’t even worry about my 95 subaru. Jump in it and do some cyclones.
I still don’t get how having to have your car towed to the dealership is more convenient than fixing it after work. Your starter is dead in your driveway, you still have to figure out how to get to work. If you get your car towed in the morning, you are still going to be late for work.
My point is, people arguing for a new car rarely have a great point. YOU AREN’T SAVING MONEY WITH A PAYMENT OVER REPAIR COSTS. By working on cars myself I’ve never spent more than $400 fixing a car, and I’ve blown plenty of transmissions. Even if you sink $2k into it, isn’t that what most people spend in a year on a car payment. So sure you would like something new for that money, but there is no way you will be spending $2k on a car in repairs every year. Most on the money I spend on my cars is wear parts and maintenance that wouldn’t be covered under a warranty anyways. If you want something that is new and can afford it, go for it. I could have bought a brand new car in cash this summer, but I went a different route.
This is the point I’m trying to make. My new car has never needed repairs in the 5 years I’ve owned it. That alone is worth the extra cost for the people buying new.
Exactly. While i can do most work on my car, i just don’t have the time when it shits. With a new car you gotta worry about a nail puncturing your tire. 5 min fix compared to having to diagnose for an hour or more wtf is wrong with your old car.
I’d buy a 2-3 year old car, but also depends on what it is.
DSM / EVO owners excluded, obviously 
^^ For sure. Most Evo’s yeah. All DSM’s yes.
I spent $1k just in maintenance parts in less then 3 months.
Why i wouldn’t buy a used Evo.
:word: a brake job on an evo alone is not cheap
haha lol, the type of car for you would get for $200-$300 a month would be like a Focus or Cobalt. i pay $340 a month for my 14k loan for 4yrs. .
Not only did i buy a used sports car but i NEVER had a problem with it at all.
In your sig you have a talon, did you buy that new? or you dont consider it a sports car.
my mazdaspeed3 only costs ~220/month
stop financing 100%
While everyone that supports the new car decision has argued about the reliability factor, from a pure financial standpoint, I have to agree with this statement.
Sure, a new car is less likely to develop problems in its first few years because it is brand new. You can buy a nice $15k-$20k car and not throw a cent at it besides regular maintenance for 5 years and be worry free. But you’re paying so much more up front (or ending up with larger payments) to avoid these “possible” headaches that could come with buying a used car.
Alternatively, you can do a thorough search for a nice used car that has been well maintained and save yourself thousands even after factoring in any of the potential repair costs. Or you could go CPO as many people have already stated and not have to deal with the initial depreciation disaster that many cars go through.
From a cost effective perspective, I still think on the whole a used car makes more sense. And I will gladly sacrifice any of the more recent amenities (heated seats, SatNav, power EVERYTHING, ect.) to enjoy a cheaper but still reliable ride.
OT: I’m think it’s pretty funny that this has sparked a completely separate housing debate now too 
my interest rate was 9%, you cant just choose or be born with a better interest rate i dont understand what you mean… i didnt get a co-signer, and i was 20 so i think for havinng little credit history i did ok…
also refinanced it and its now likw 5.5%
ouch, 9%… you got bent over. My g/f with 0 credit history got a 4.75 from honda fresh out of college making not much money.
also, I was reffering to your down payment…now I KNOW you are clueless with expenses.
I bought it private not dealer, and the car was 15k… so i had a down payment. And the Economy is in a different state then when i bought my car… At dealerships they wanted to give me 20%… thats getting rapped, your gf got a brand new car/ or newer car and that will get you a lower interest.
But i got what I LIKE… I didnt need a DD so i bought a sports car that i could also DD! Thanks for being judgmental though :tup: