Certified Used or new
 

Ok so I am lookin to probably make my first real car purchase now that I have a full time job and what not. I am lookin to get something like a 4 door accord/altima/camry.

My 2 real options are:

Certified usedv (02-03 models):
Pros: cheaper, warranty, can probably get a better model
Cons: going to have around 40-50k miles on it

New (07 models):
Pros: its new, warranty, no miles on it, will last longer
cons: will cost around 4-5k more

What do yall who know a bit more think? is it worth the extra 4-5k to have a car with no miles on it?

Re: Certified Used or new
 

Everyone is going to say used.

Re: Certified Used or new
 

I am not an expert or anything, but why not look for 05 and 06 used? These cars would not be 'certified' because they would have the factory warranty remaning (I think only cars without a factory warranty that will rollover will become certified)...

Re: Certified Used or new
 

It probably doesn't matter too much if you're getting a Camry/Accord. They hold their value really well, but also 40-50k miles is nothing for them. Going used saves you money though so I'd probably do that.

Re: Certified Used or new
 

[ QUOTE ]
It probably doesn't matter too much if you're getting a Camry/Accord. They hold their value really well, but also 40-50k miles is nothing for them. Going used saves you money though so I'd probably do that.

[/ QUOTE ]

I agree. If you're willing to buy a high-mileage car, you can get a great vehicle for not much money at all. I drive an '02 Acura that I bought with 75k miles. Runs great, only problem I've had in the year or so I've owned it has been a $250 A/C repair.

Re: Certified Used or new
 

Used, no doubt.

Re: Certified Used or new
 

It depends what kind of car you want to get. For cars that have steep depreciation curves (a lot of luxury cars, especially Audi's and Jaguar's), it totally makes sense to get a recent-model used car.

But for Honda's and Toyota's, given the price depreciation curve, it really does not make too much sense to get a slightly used car (except in weird borderline cases, e.g. you have EXACTLY 22k you want specifically an Accord and a used one falls slightly under that). But in general, assuming you have some flexibility, you should get a new car.

Another point: while it does not make sense to buy a slightly-used Honda, it does make sense in many situations to buy a really old Honda. Like a 1995 Civic or something like that.

-bigbootch

Re: Certified Used or new
 

What if I found a 2002 Nissan Sentra with 55k miles on it for $6k? I know KBB value for private party is greater, but does it "make sense" as you say?

Re: Certified Used or new
 

Used. Buying new is for suckers and people with plenty of money. You'd be blowing thousands of dollars instantly that you could put toward making a 1 or 2 year old car look really nice.

Re: Certified Used or new
 

Used is generally good advice, but not always entirely true.

With some new-car incentives, rebates, etc, an 05 or 06 model could cost almost the same as an 07 model. My parents ended up going with a base '07 trailblazer for this very reason.

BigBootch hit the nail on the head - here's how it typically works:
first 2-3 years: heavy depreciation
next 5 years: all depreciate around the same rate
after that: very little depreciation

You can drive something like a 1996-1998 model car now for a year and probably almost break even selling it if you're good negotiating.

Also, don't get a sentra. Get something you'll want to drive for a while.

One major mistake people make is to buy something cheap because they don't want to spend a lot of money. In 2-3 years they get sick of it, and end up selling it for a big loss and buying something new.

Try to pick a car that's nice (but not so nice you can't afford it), and try to drive it to the ground.

For around $6k, you should be able to find some decent cars.
For example, if you like nissan (since you mentioned the sentra), you could find this car:

2000 Maxima SE
75,000 miles
Leather
$6500

(edmunds TMV, private party, average condition).

This would be a MUCH nicer car than a sentra.

Re: Certified Used or new
 

I bought a year old certified civic with around 40k miles. I've been very satisfied with it.

Re: Certified Used or new
 

[ QUOTE ]
Used is generally good advice, but not always entirely true.

With some new-car incentives, rebates, etc, an 05 or 06 model could cost almost the same as an 07 model. My parents ended up going with a base '07 trailblazer for this very reason.

BigBootch hit the nail on the head - here's how it typically works:
first 2-3 years: heavy depreciation
next 5 years: all depreciate around the same rate
after that: very little depreciation

You can drive something like a 1996-1998 model car now for a year and probably almost break even selling it if you're good negotiating.

Also, don't get a sentra. Get something you'll want to drive for a while.

One major mistake people make is to buy something cheap because they don't want to spend a lot of money. In 2-3 years they get sick of it, and end up selling it for a big loss and buying something new.

Try to pick a car that's nice (but not so nice you can't afford it), and try to drive it to the ground.

For around $6k, you should be able to find some decent cars.
For example, if you like nissan (since you mentioned the sentra), you could find this car:

2000 Maxima SE
75,000 miles
Leather
$6500

(edmunds TMV, private party, average condition).

This would be a MUCH nicer car than a sentra.

[/ QUOTE ]

Used cars are good if you KNOW the people that had them or have a friend in the dealership.

Even if they have a good warranty, it usually doesnt last for much longer then 6 years from original build or 100k miles. Then after that you are [censored].

You would have to put a specific comparison to see if it is worth it or not to get the used car.

Having worked selling new and used - used cars are freakin disgusting. I would rather go down a level (less price) then buy another used car.

FYC

Re: Certified Used or new
 

[ QUOTE ]
[ QUOTE ]
Used is generally good advice, but not always entirely true.

With some new-car incentives, rebates, etc, an 05 or 06 model could cost almost the same as an 07 model. My parents ended up going with a base '07 trailblazer for this very reason.

BigBootch hit the nail on the head - here's how it typically works:
first 2-3 years: heavy depreciation
next 5 years: all depreciate around the same rate
after that: very little depreciation

You can drive something like a 1996-1998 model car now for a year and probably almost break even selling it if you're good negotiating.

Also, don't get a sentra. Get something you'll want to drive for a while.

One major mistake people make is to buy something cheap because they don't want to spend a lot of money. In 2-3 years they get sick of it, and end up selling it for a big loss and buying something new.

Try to pick a car that's nice (but not so nice you can't afford it), and try to drive it to the ground.

For around $6k, you should be able to find some decent cars.
For example, if you like nissan (since you mentioned the sentra), you could find this car:

2000 Maxima SE
75,000 miles
Leather
$6500

(edmunds TMV, private party, average condition).

This would be a MUCH nicer car than a sentra.

[/ QUOTE ]

Used cars are good if you KNOW the people that had them or have a friend in the dealership.

Even if they have a good warranty, it usually doesnt last for much longer then 6 years from original build or 100k miles. Then after that you are [censored].

You would have to put a specific comparison to see if it is worth it or not to get the used car.

Having worked selling new and used - used cars are freakin disgusting. I would rather go down a level (less price) then buy another used car.

FYC

[/ QUOTE ]

Buy used Toyotas or Hondas. They'll last with almost no problems.

Re: Certified Used or new
 

yeah i had a 95 civic 2 cars ago...good car but now its really to small for me having to work and what not...i really need a 4 door car.

If i bought a used honda/toyota i wouldnt have worries about problems with it as i know all about the quality you get with those cars

If i bought a new i would probably have to get like an lx instead of an ex but i do plan some upgrades which is the benefit of this option

Re: Certified Used or new
 

[ QUOTE ]
Used is generally good advice, but not always entirely true.

With some new-car incentives, rebates, etc, an 05 or 06 model could cost almost the same as an 07 model. My parents ended up going with a base '07 trailblazer for this very reason.

[/ QUOTE ]

So very true... I was in the car market for quite some time, looking at used cars 2 and 3 years old, until a dealer showed me that with rebates, incentives, etc it was actually cheaper to buy a new car. I bought a brand new 07 G6 for about $750 less than the used cars I was looking at.

Re: Certified Used or new
 

I would go with the '02/'03 used Accord or Camry. You can get nice features (V6, leather, moonroof, etc.) and wind up spending 50-60% of what you would on a comparible '07 model. You should be able to get one with 40K miles on it, and it should last for a long time.

Basically, you can spend less money and get a nicer car (features-wise), but it's a few years old. I think the best deals right now are in the 02/03 models. An '02/'03 Accord/Camry (I prefer Accords) should last you a long time and shouldn't give you any problems (and you can get a warranty just in case). You also might find better deals at a smaller used car dealership than at a big name dealer.

Re: Certified Used or new
 

I have bought about half a dozen used and the same amount of new cars over the last twenty years. If you are looking at 1-2 year old used models from a dealer, you probably should just buy new. There is usually high pressure on some dealers in large metro areas to move new cars. When buying a 1-2 year old used car however, dealers do not have the pressure from the factory and they often have a larger markup than new cars. Since there are few if any comps it is far more difficult to negotiate. If the average buyer pays $25K for a new car that drops in value to $20K when it is driven off the lot and you bought the same car for $23.5K then this is comparable to the depreciation that you would get from the certified 1-2 yr old car.

I suggest emailing the internet departments of all the dealers within say 40-50 miles with the specific model/options you require. Explain you already have your financing in place (I recommend your local credit union), have NO trade, and tell them that you are purchasing the car from them or one of a couple other preferred vendors on 2/16 or whatever. If they would like to be considered please email their quote by 2/15. On 2/15 you can beat the lowest 3 up against each other. If you really want to eke out that last couple hundred dollars on 2/16 wait for the calls to come in and tell them that you are heading over to the other dealer because you are finalizing the deal.

Re: Certified Used or new
 

As an example, and something I am seriously considering doing-
This Infinity M45 was about $45 K in 2003-2004. They have been coming off lease, and certified and you can get them for $22-25K with around 20-30K miles. They are supposed to be quite reliable ( and I've had good experience with my 1993 G20) except for an oil burning issue which I believe is covered by the 10 year powertrain warranty.

I think they're ugly in a pretty way, and they have a 340 HP V8 and do 0-60 in under 6 seconds. Much more style IMO than a newish Camry/Accord.

Ihttp://www.infinitihelp.com/Infiniti...32003m45_2.jpg

Re: Certified Used or new
 

Back in 04 I bought an infiniti G35 03 with low mileage. I had a job at the time and my expenses were low everything seemed great.

Now, I wish I had bought a sh..box and paid next to nothing. I play poker fulltime now and even if you work fulltime you probably will want a low nut(net payment on bills per month) I think everyone needs to have a nice car experience, but believe me it is not worth it. Save the money, invest it if you want or put it towards you bankroll, but don't overextend yourself for a nice car. I love the GPS, leather seats, and nice car experience, but could have much more if I had never bought the car.