it depends a lot on your needs, ego, preferences, and thickness of wallet. And whether you take a long or short view of car ownership.

I buy used, do a lot of my own work, have a good indy, and tend to run cars into the ground. I'm a tightwad, hate car payments, and don't care whether my ride impresses anyone but me. What I believe in is buying a quality product and maintaining it well. Then you get a lot of value out of it. I'll make payments on a used car (a CPO for example), but they are small compared to the ones for an equivalent new car. I've never cranked the numbers, but I've saved thousands over the past 30 years doing it this way.

A friend with deeper pockets--who can easily afford new cars--does the same. He just pays more for his used cars. As he put it one day while we talked about this: "You get a lot of value out of a car after it hits 100K miles." He retired his Legend at 240K, his Mazda MPV at 188K. His daughter now drives his NG 900 turbo at 165K. He just got a 2002 BMW 5 series with only 30K on it.

As for new, I have trouble seeing the value in the near term. What you don't pay in maintenance you pay in the downstroke and the monthly nut. And I think car leasing is ridiculous. I know you can make the numbers work, but it also means you have car payments forever. My business use makes me an ideal leasing candidate, but I can't get around the idea of a $400-500 (or so) monthly nut just to have a new car. The expense doesn't make my business any better. My 9 yr old Saab does all I need. (sorry Mike Lynch)

The people I feel get screwed are the ones who are buying new bottom feeders like Hyundais and Kias, sucked in by the 100K powertrain warranties. The indy who works on my wife's Exploder gave me an earful of how those are full of exclusions--what his customers have experienced. So these people bought a new car only to find that it still breaks and that they still have to pay to fix it.

FWIW, our next car will be a '02 or '03 9-5 SportWagon (CPO). Should be good for 8-10 years.

posted by 69.163.38...

• New car/used car debate, -993-, Tue, 15 Nov 2005 23:25:54
  • Thanks for all the comments and.., -993-, Thu, 17 Nov 2005 20:11:55
  • Just look at the depreciation curve..., STICKMAN, Thu, 17 Nov 2005 06:14:45
    • And look at other costs over time..., Noel, Thu, 17 Nov 2005 06:31:09
      • this is my philosophy, Bob M, Thu, 17 Nov 2005 08:14:41
  • Re: New car/used car debate - longish, johnf, Thu, 17 Nov 2005 00:39:46
  • It's more about what you think you can afford...., Mike Lynch , Wed, 16 Nov 2005 21:38:47
    • Wouldn't your lease payment analysis break down if...?, Dave in Houston, Thu, 17 Nov 2005 04:39:00
      • Re: Wouldn't your lease payment analysis break down if., Noel, Thu, 17 Nov 2005 06:08:31
  • Re: New car/used car debate, Ernesto , Wed, 16 Nov 2005 18:14:10
  • Wouldn't buy any car with >20,000 miles on it, NickR, Wed, 16 Nov 2005 13:49:06
    • I bought my Viggen with 76,000, just passed 130,000, Dave in Houston, Wed, 16 Nov 2005 18:15:35
      • just curious, steveC, Wed, 16 Nov 2005 21:14:39
        • Re: just curious, Shawn, Fri, 18 Nov 2005 15:56:32
        • I commute too, Trev, Thu, 17 Nov 2005 19:47:49
        • Commuting (Ramblings), Dave in Houston, Thu, 17 Nov 2005 04:34:09
  • Good thread. It's not a simple answer.. (longish), Noel, Wed, 16 Nov 2005 12:08:48 <-- Viewing This Message
  • Don't you think that it's not all about money., J, Wed, 16 Nov 2005 11:41:21
  • Re: New car/used car debate, mb25, Wed, 16 Nov 2005 11:30:51
  • Re: New car/used car debate, kooch, Wed, 16 Nov 2005 10:23:02
  • Re: New car/used car debate, PaulO, Wed, 16 Nov 2005 08:49:55
    • Depreciation roughly equal 1st 3 yrs vs 2nd 3 yrs..., Mike Lynch , Wed, 16 Nov 2005 14:49:34
      • Here are some real numbers, I think Mike Lynch is right, Ken D, Thu, 17 Nov 2005 18:17:44
      • Re: Depreciation-- A couple of questions..., Noel, Wed, 16 Nov 2005 15:16:14
    • Re: disagree on one point, JimBlake , Wed, 16 Nov 2005 09:16:15
  • Re: New car/used car debate, OKSaabs, Wed, 16 Nov 2005 08:42:26
  • Need a spray can with "new car" smell..., LeoNL, Wed, 16 Nov 2005 08:18:42
    • How used is used?, SaabSpeed, Wed, 16 Nov 2005 10:10:04
  • Figure the cost per mile to drive new or used car..., JBack, Wed, 16 Nov 2005 07:49:40
  • It' really not that simple...., Herb Hirsch , Wed, 16 Nov 2005 06:20:47
  • Re: New car/used car debate, JimBlake , Wed, 16 Nov 2005 06:16:19
  • Not an econ major but..., NateinAA, Wed, 16 Nov 2005 05:00:17
  • Re: New car/used car debate, SaabSpeed, Wed, 16 Nov 2005 03:15:40
    • Re: New car/used car debate, George, Wed, 16 Nov 2005 09:59:58
      • I paid 15K for a 03 Aero., SaabSpeed, Wed, 16 Nov 2005 10:05:40
        • your numbers are wrong, mattysdad, Wed, 16 Nov 2005 11:10:54
          • that and the fact the 15-3.5=11.5 not 12.5 ;-), markP, Wed, 16 Nov 2005 12:06:09
            • at work doging big brother....sorry.. eom, SaabSpeed, Wed, 16 Nov 2005 19:08:04

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