Quote:
Originally Posted by calgaryrocks
I have a buddy that swears the opposite, he would never buy a new car, but he's a car guy and can fix most things.
anyways the only car i've ever bought was used (94 corolla, 200k+ on it) and its lasted me almost 5 years, though it has needed some repairs (nothing major) so i would buy used again, though something newer. my next car i would like to be between 2 and 5 years old, still in good shape but not new. the assertion that a car 2 years old is the best value to buy as a used car makes alot of sense to me. buying a new car is mostly for the peace of mind knowing its history and the mental enjoyment of buying it 'new', financially it can still make sense, but is not usually preferable in my opinion
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Think about what I did... for example, the car I bought with a sticker of 29500 for 17000 is now worth MAYBE 10000. So it depreciated 1200/yr since I've owned it, and 12000 in the first 8 months.
My point is that if you are looking for bang for your buck, buy a car like I did, and follow Cowperson's advice about looking around- it took me 3 months to find my car. If you just want a cheap car, then buy 2-5 years old. But there's deals to be had.