Buying Used vs Buying New (Car)

[Table 5]

Originally Posted by Sliver

Table 5, an Internet chat board is no place for good logic and rational conclusions. GTFO.

Thanks but don't give me any Logic trophies just yet. I bought my last used car from a dealer for a price that was a good 10% more than I could've bought on the private market simply because i loved the color and couldn't get it anywhere else.

Love my purchase so far though

[Red_Baron]

The dealer can also help you shop around for financing, sometimes they can find someone with a better rate saving you from running around trying to find the best one.
Just food for thought.

[Bill Bumface]

Originally Posted by Ironhorse

Except when it is an awesome automobile, and you're a car guy. Then I wouldn't want someone's sloppy seconds.

I'm the opposite. A car guy who can get something with twice as much power if he buys something 2 years old.

[DrPepper]

Originally Posted by FlamingC

I know there's a lot of threads on cars, but I had a tough time searching for them. If inappropriate, mods can close this.

So a buddy and I are talking about buying cars and he told me that because he's OCD about his stuff, he'd only buy new. That way he knows the car has been taken care of. He says it's for peace of mind.

He says since he's not a mechanic, he can't be bothered with the problems that come with a used car.

I'm thinking that there's plenty of good used cars out there that still have lots of life in them. I didn't have a good experience with my first used car but I'd still do it to save some money on a good used car. I've seen on the toyota website that they have certified used cars so you can get some peace of mind with that designation.

I'm interested to hear what are your personal thoughts if you had to buy a car today, would it be a new or used and why? And are u handy enough to do any fixes yourself?

I'm actually the same as your buddy, through my parents are the ones that WANT me to buy a new car instead of a used car only because none of us know how to fix cars.

Growing up, I've wanted to buy used cars and work on them till they were souped up and sell them for more than their worth, but its not happening now. Haha.

[Dion]

Originally Posted by HOOT

What's a lot less though?

$8,000 bought me a lot of mutual funds

[Dion]

Originally Posted by GreatWhiteEbola

Here's your proof JA!

As far as dealership maintenance records are concerned I have an example that changed the way my last car was maintained.

I had my car at the dealership for its 16,000kms scheduled maintenance. I knew the headlight had failed. I mentioned to the service adviser, "lets not tell the mechanic that the headlight is out and see what happens"

Sure enough the report comes back "headlights operational? ". Check. Yeah, no the headlight does not work. The real kick was, the service adviser says "You pay for the install, we'll pay for the headlight". I said no way jose, it will take me 2.5 minutes to install a headlight, and $20 for the bulb. Not worth it to pay a half hour labour at $90/hr.

Then the real kick in the teeth, I mention this to another dealership, and the answer I get. The headlights are warrantied to 20,000kms, you should have had it covered.

From that point on, I researched and did all the maintenance myself, saved a fortune.

So yes, it is possible for a dealership to fudge their paper work. I know it was just a headlight. However, the mechanic is feeling particularly lazy, transmission fluid doesn't get checked. A potential timebomb that was documented as being completed.

Love your comments at the bottom of the page re ignorance is bliss . I simply asked for proof.

I have never encountered the problems you talked about. I'm careful about which delearship I buy a a vehicle from. I also talk to people ahead of time as to what kind of service they've recieved. If the service is bad I'll buy from someone else. A little homework on my part saves me from having to deal with possible situations you mentioned above.

[V]

Originally Posted by Teh_Bandwagoner

I figure the only way to get top value for your car is just to never sell it and drive it to the ground, new or not.

I'm getting close to that point.

In 2000 I bought an 87 Buick Century for $2200. Since then I've done the brakes once, changed out a muffler once, replaced the tires and the battery, and that's it. She's starting to show wear and tear now, though. I don't know if it's worth spending money on, or not. I have a feeling I could spend 500 bucks on it and get another 2-3 years at least. It's a tough call, though. You just never know with these beaters.

[Dion]

Originally Posted by Teh_Bandwagoner

I figure the only way to get top value for your car is just to never sell it and drive it to the ground, new or not.

That's what I do. Buy a 2 year old vehicle and drive it into the ground. When it comes time to buy another one I sell the one I got to a local mechanic who's looking for a cheap vehicle to fix up and drive to work and back home. Did it with my 91 Explorer when I bought 05 Escape in 07. No worries about fighting over trade in value

[GreatWhiteEbola]

Originally Posted by Dion

Love your comments at the bottom of the page re ignorance is bliss . I simply asked for proof.

I have never encountered the problems you talked about. I'm careful about which delearship I buy a a vehicle from. I also talk to people ahead of time as to what kind of service they've recieved. If the service is bad I'll buy from someone else. A little homework on my part saves me from having to deal with possible situations you mentioned above.

Would you know if the "documents" pertaining to your vehicle where falsified, no. However, I guess that's like anything else, no matter how much due diligence involved you can still get burned. I am just pointing out that with new, the chance of that happening is less. Still there is no guarantee. New vs used, I perfer new. Cases can be made for used.

[V]

It's simply a matter of risk management. This happens all the time in the business world. Those who are risk averse would be far more willing to pay a significant premium to reduce risk as much as possible.

Now for those that buy new because they like being the first in the car, or they like the idea of driving something completely new, well, that's just a matter of paying a premium to stroke the ego. If you've got the money for it, have at 'er, I suppose, but I'll never understand it.

[Sliver]

Originally Posted by DrPepper

Growing up, I've wanted to buy used cars and work on them till they were souped up and sell them for more than their worth, but its not happening now. Haha.

You lose money everytime you modify a car so it's probably best you didn't try it haha.

[GreatWhiteEbola]

Originally Posted by V

It's simply a matter of risk management. This happens all the time in the business world. Those who are risk averse would be far more willing to pay a significant premium to reduce risk as much as possible.

Now for those that buy new because they like being the first in the car, or they like the idea of driving something completely new, well, that's just a matter of paying a premium to stroke the ego. If you've got the money for it, have at 'er, I suppose, but I'll never understand it.

New car buyers are egomaniacs? Without new car buyers, there would no used cars.

If I buy a new Ford Fiesta for $16,000.00 as apposed to, a used Hummer for $40,000.00, for instance. I am more of an egomaniac? Bizarre.

[GreatWhiteEbola]

Originally Posted by Sliver

You lose money everytime you modify a car so it's probably best you didn't try it haha.

There comes a point where the vintage of an automobile makes it worthwhile to restore/ modify it. Only those with extensive resources can really turn a sizable profit with that type of venture.

I've modified my cars as a hobby, some do hookers and blow, I spend money on my cars. Ahhh, who am I kidding, I do hookers and blow too!

[burn_this_city]

Originally Posted by GreatWhiteEbola

There comes a point where the vintage of an automobile makes it worthwhile to restore/ modify it. Only those with extensive resources can really turn a sizable profit with that type of venture.

I've modified my cars as a hobby, some do hookers and blow, I spend money on my cars. Ahhh, who am I kidding, I do hookers and blow too!

The parts are always worth more than the sum of those parts. Its incredibly difficult to break even or turn a profit on a restoration.

[Dion]

Originally Posted by GreatWhiteEbola

Would you know if the "documents" pertaining to your vehicle where falsified, no. However, I guess that's like anything else, no matter how much due diligence involved you can still get burned. I am just pointing out that with new, the chance of that happening is less. Still there is no guarantee. New vs used, I perfer new. Cases can be made for used.

A vehicles VIN number can give you a lot of info about the vehicles history. It can determine a car's entire history - where it's been registered, if it's branded salvage or rebuilt and if there are any collisions. Doing that can save a buyer a lot of grief before he/she buys.

[Table 5]

Not sure what the Canadian equivalent is, but in the U.S. Carfax saved me a ton of time when shopping for a used car. Just plug in the VIN and you could find out right away if there car's been in an accident, how many owners it's had, whether it was a company car etc.

It saved me a ton of time as I could cross out what I thought were promising cars before I even left my chair. Highly recommended.

[Sample00]

^^^ couldnt agree more. We use Carproof here.

[V]

Originally Posted by GreatWhiteEbola

New car buyers are egomaniacs? Without new car buyers, there would no used cars.

If I buy a new Ford Fiesta for $16,000.00 as apposed to, a used Hummer for $40,000.00, for instance. I am more of an egomaniac? Bizarre.

I can see how you'd come to that conclusion. You know, after reading 3 of 5 lines.

[North East Goon]

Originally Posted by V

I'm getting close to that point.

In 2000 I bought an 87 Buick Century for $2200. Since then I've done the brakes once, changed out a muffler once, replaced the tires and the battery, and that's it. She's starting to show wear and tear now, though. I don't know if it's worth spending money on, or not. I have a feeling I could spend 500 bucks on it and get another 2-3 years at least. It's a tough call, though. You just never know with these beaters.

My god man, time to splurge and get yourself something from 2000/2001. Live a little!

[Fozzie_DeBear]

Originally Posted by Table 5

Thanks but don't give me any Logic trophies just yet. I bought my last used car from a dealer for a price that was a good 10% more than I could've bought on the private market simply because i loved the color and couldn't get it anywhere else.

Love my purchase so far though

SAABs are great cars...almost bought a 93 Sportcombi...but the interior build quality was really sub-par (thanks GM)

Great engine and handling though