Buying a New Car vs. 'Pre-Owned' Car (Page 2)

If you are like my wife, and tend to drive a car and forget to have -any- basic maintenance done (you know, like oil changes, new brakes, tires, etc.) then a lease is a great idea. By the time the car starts falling apart, it's time to get rid of it and get another new one. She did this for 9 years until I stepped in.

If you absolutely must have a certain colour or options package, and don't mind paying the extra $, a new car is for you.

If you want to save some money at the expense of getting exactly the car you want (or get more car for the same money), get a 1-3 year old car.

If you want to save lots of money, buy a cheap car with cash, and put $150/month into savings for inevitable repairs down the road. If you are spending more than $1800/year keeping the car safe and running well, ditch it and get another car for cash. It's not the 1980's anymore - a cheap mid-90's Honda is dirt cheap and will last a long time with a bit of TLC.

"Don't buy other people's problems" is a story told by new car salesmen. You are just as likely to get a lemon of a brand-new car as you are a lemon of a used car. Spend $150 on a detailed pre-purchase inspection to reduce your chances of buying a crappy car (like one of my wife's lease returns! :-)

I'm firmly in the "buy used" group, but honestly my last 2 vehicle purchases were brand new. The first was a 2000 Xterra - a brand new one (first model year was 2000) was $5000 cheaper than a similar 2-year old used 4Runner. Got the new vehicle. The second one was a 2006 Subaru - we bought a new one in Idaho for $4000 less than we could get a 2 year old used one here in Calgary. Gotta love that weak US dollar.

Edited by ertman 2007-06-26 5:33 PM