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#3319636 - 03/22/14 10:00 AM Is it economical to buy new?
7055 Offline


Registered: 01/10/08
Posts: 276
Loc: KS
I want to get a crossover SUV but I'm not sure if I'll buy used or new. If you get new, you to put on the most reliable of the vehicles miles, you get a warranty and you get better gas mileage. I can buy a brand new 2014 crossover for between 20 - 25k. Or I could buy a used 2004ish crossover with say 60k on the clock for maybe around 12k.

I put about 8 thousand miles on the odometer per year making almost exclusively short trips. I want to get a car that will last me with minimal maintenance for 7 - 10 years and it has to be reliable enough for me to trust it on long trips when I go traveling as well as be my only vehicle.

Any recommendations?


Edited by 7055 (03/22/14 10:04 AM)
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#3319640 - 03/22/14 10:03 AM Re: Is it economical to buy new? [Re: 7055]
dparm Offline


Registered: 04/19/10
Posts: 12584
Loc: Chicago, IL
Why not get something that's only a year or two old? Let someone else take the initial depreciation hit and you can save 20-30%. Many one or two-year old cars will be available as a certified pre-owned, which can give you a better warranty than what the original owner got.

Most modern cars will easily tick past 150k without needing any significant repairs, save for some very high end European ones.
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#3319646 - 03/22/14 10:10 AM Re: Is it economical to buy new? [Re: dparm]
7055 Offline


Registered: 01/10/08
Posts: 276
Loc: KS
Originally Posted By: dparm
Why not get something that's only a year or two old? Let someone else take the initial depreciation hit and you can save 20-30%. Many one or two-year old cars will be available as a certified pre-owned, which can give you a better warranty than what the original owner got.

Most modern cars will easily tick past 150k without needing any significant repairs, save for some very high end European ones.


I thought about that but the price doesn't seem to drop that much when you buy those cars. They might have 15,000 miles on it which is almost 2 years of driving for me. So for just a little extra I can get brand new and put those 15,000 miles on myself. I feel like those lightly used vehicles aren't that great of a deal.


Edited by 7055 (03/22/14 10:13 AM)
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2004 Neon SRT 376whp 437wtq - stage3, exhaust port, 6 puck, water injection...
http://www.cardomain.com/ride/3143812/1

Sold for more important ambitions

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#3319648 - 03/22/14 10:11 AM Re: Is it economical to buy new? [Re: 7055]
buster Offline


Registered: 11/16/02
Posts: 29240
Loc: NJ
Depends. There are advantages to new.
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#3319652 - 03/22/14 10:20 AM Re: Is it economical to buy new? [Re: 7055]
whip Offline


Registered: 03/03/05
Posts: 1634
Loc: ohio
If you drive 8,000 miles a year, and vehicle bought with 50,000 will last you 10 years. That's less than 150,000.
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#3319654 - 03/22/14 10:23 AM Re: Is it economical to buy new? [Re: 7055]
johnachak Offline


Registered: 12/08/10
Posts: 1610
Loc: L.I. NY USA
Our last 2 vehicles were bought new with 0% financing. That made them cheaper than the 2-3 year olds with 4-6% financing charges. My Ford is used exactly as you described and is going on 8 years old. I still use it daily and as our vacation mobile. It had a few minor warranty issues the first year or so, it outlived the extended warranty with no use on it. The Caddy (our fun car) is going on 5. I still see some 0% financing out there and it makes buying new a lot closer to the price of a 2-3 year old. The newer GM's all carry 5 yr 100,000 mile power train warranties. I am a fanatic for breaking in a car right (enter the flamers) and maintaining it properly with the best fluids and filters, brakes, tires, etc. I can buy. I keep my cars a long time so the first part of it's life is important to me. Good luck on whatever you decide.


Edited by johnachak (03/22/14 10:27 AM)
Edit Reason: typos
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#3319657 - 03/22/14 10:27 AM Re: Is it economical to buy new? [Re: 7055]
Brule Offline


Registered: 11/12/12
Posts: 422
Loc: St. Louis, Mo
If you plan to keep the car for long term like you say, buying new is a good choice. You might want to get an extended warranty like I did for 5 years and 100K. They will try to overcharge you on the ext warranty however. Act like you're not interested until the price of the warranty gets down closer to $1000.
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#3319658 - 03/22/14 10:27 AM Re: Is it economical to buy new? [Re: 7055]
Tdbo Offline


Registered: 08/18/09
Posts: 1753
Loc: Ohio
Wait until November-December of 2014 and purchase a leftover 2014 when the 2015's are out.
Use used book for a 2014 as your pricing target.
Get a new year old car with no miles and full warranty for the same price (or less) than a year old used one.
Best of both worlds.
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2012 Honda Accord LX-P 60K
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#3319659 - 03/22/14 10:28 AM Re: Is it economical to buy new? [Re: 7055]
dparm Offline


Registered: 04/19/10
Posts: 12584
Loc: Chicago, IL
Cars also deteriorate with age. There are maintenance items and things that wear out after X months, not just with mileage. Don't assume that because you drive very little, you'll have less maintenance to do.
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#3319665 - 03/22/14 10:39 AM Re: Is it economical to buy new? [Re: 7055]
JTK Online   content


Registered: 08/14/03
Posts: 7452
Loc: Buffalo, NY
There's a lot of factors at play such as demand for the specific vehicle you want, resale values, if you can pay cash or if you have/want to finance.

Paying cash for a ~3yr old vehicle is pretty much always going to be a wiser financial move.

OTOH, if you want to finance and your credit is good, current car loan rates are 1-3% up to 72mo these days.
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#3319668 - 03/22/14 10:40 AM Re: Is it economical to buy new? [Re: 7055]
gregk24 Offline


Registered: 04/13/13
Posts: 3118
Loc: FL, USA
I would go with a newer certified pre owned.
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#3319669 - 03/22/14 10:40 AM Re: Is it economical to buy new? [Re: 7055]
Papa Bear Offline


Registered: 08/11/05
Posts: 6159
Loc: Leamington, ON, Canada ..... r...
Can you comfortably afford a new SUV? If you can then get one.

The new vehicles are getting better mileage and are more comfortable.

I was looking at the new Chrysler 200 with the 3.6 and a 9 speed trans ... I did some rodding in the 60's and this thing would have left me in the dust.

Today's vehicles were not available 10 yrs ago and if you are going to keep it for a while I would start off as curent as possible.
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#3319691 - 03/22/14 11:00 AM Re: Is it economical to buy new? [Re: 7055]
eljefino Online   content


Registered: 06/15/03
Posts: 24642
Loc: ME
Crossovers are booming. The Saturn VUE popularized the premise in 2002 and I was shopping a year ago for one and could not find a deal. The "buy here pay here" lots get top dollar. Because of the "population explosion" there are more options new or a couple-years old than there are used.

The flipside is if you want a 90's body-on-frame SUV they're dirt cheap. LOL

PS I bought a chevy HHR instead as that fad has passed. LOL

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#3319705 - 03/22/14 11:12 AM Re: Is it economical to buy new? [Re: 7055]
Mykl Offline


Registered: 02/08/13
Posts: 1377
Loc: Texas
If you put 200k miles on it the price per mile should even out between a new car and a used car. It ends up depending on the car though, if you're cross shopping something like a five year old Altima versus a new one the fuel savings alone will make it worth going for a new car in a shorter period of time.
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#3319711 - 03/22/14 11:16 AM Re: Is it economical to buy new? [Re: 7055]
hattaresguy Offline


Registered: 06/01/11
Posts: 5325
Loc: CT
Buy new and keep until its shot. With some high end cars buying off lease makes a lot of sense but not with anything under $30k or $40k.


New only costs more if you play musical cars every couple of years.


Edited by hattaresguy (03/22/14 11:16 AM)

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