New vs. Used Cars: Which Should You Buy?

New vs. Used Cars: Which Should You Buy?

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[drpeggyhudson]

I bought a 1995 Honda Accord brand new when I graduated college & drove it for 15 years. Put 318, 000 miles on it. Loved that car!!! I bought a 2010 Lexus RX 350 brand new on 12/31/2009 & I’m still driving it 13 years later. I’ve had 2 cars in the past 28 years … my sister has had about 16 cars in that time. 🤣

[CelticsWin]

Bought my 2011 Chevy Impala LT with 32, 000 miles a little over 10 years ago for $19, 500 cash OTD price. (This price included the $1, 500 VSC I got suckered into... I was young and naive). Still driving the same car 10 years later. Currently has 186, 000 miles and hope to get another 100, 000 miles out of it. Always do regular maintenance and haven't had any major repairs.

[RS-dcwy]

Unless cars are a hobby or you see them as a status symbol..
A car is simply an appliance, no different than a toaster oven of dishwasher. Speaking as an ex mechanic, the best value is in a ten year old Toyota or Honda with up to 120k miles on it - bonus points if you can find one with a manual transmission. Then change all of the fluids and run it carefully for another 150k miles. You will not have the wow factor of your friends or colleagues, but instead you'll put tens of thousands of dollars into appreciating property instead of being locked into a job that you hate simply to maintain a status by buying a new car every four years. You're welcome.

[remitremblay]

Such great recommendations again! We did buy new, in 2022, sold a 2018 with a GREAT price in the spring (a truck..), and are planning on using this "thing" we now drive to the last of it (10 years+). We are of the "CPA" brand (both of us) and we too, think that a car is never an investment...expecially when you reach the end of your "earning" life cycle! Great advice again from a great duo! Thanks guys! Happy New Year 2023!

[edsteadham]

Honestly who cares about the value a car keeps. Dumb to buy a car with the intention of selling it while it is still a decent vehicle.

[edorofish]

I've got a friend that goes through cars like groceries. Nice cars...new cars and turns them over for something fancier than the last. He's single and has 3 vehicles (two trucks and one old really nice collector car).

[karmakay]

THANK YOU!! Fantastic and very informational video!!

[enigmathegrayman]

Used cash car! I’m a blue collar worker with a modest income so for me a cash car allows me to keep a 35 percent of my income investment rate for retirement.

[SpicyKimchi-]

We’re a one car family, but just my husband and I. We bought a new hybrid cash bc we need reliability. Don’t regret it.

[divinemessenger]

Considering buying a new car because I’m so tired of the maintenance. You never know who had the car before you and if they truly maintained it like they said they did. I’m so tired.

[aplusmerchant]

I have literally the worst luck with cars. I’ve had 8 cars, all used, and they always end up needing a new engine or transmission or some extremely expensive issue. So in my case, it makes sense to buy new because I end up paying new price anyway with all the maintenance and repairs

[bySterling]

Cutiou$ your thoughts on lea$ing (from 2020)?!

[edsteadham]

Don't forget the hassle factor that comes with a used car. We buy reasonably priced new cars and drive them for 10 years minimum. Financially it's probably a wash.

[h]

I bought my car new 10 years ago. It was about the same price as the used cars I was looking at. I absolutely love it and hope it lasts me another year or three. When it feels unreliable, I'll replace it. I assume I'll get a new car, but I really don't know. Depends on the circumstances and how I feel when I go to replace it. I said I'd get a Tesla, but I kind of want a truck. I also want a small car again. I don't know what I want lol. I imagine, like this car, one will outshine the others and I'll fall in love with it. And tbh, a new car really didn't cost that much. It was 20k and I'll have kept it for 10+ years, so less than an additional 2k per year above gas and maintenance.

[jamesbowman]

FINALLY! I think I found a couple youtubers with brains. It's all about annual cost of ownership.

[dianaalyssa]

Thanks, Have been thinking about this topic now. It depends what I can get for the money. The used car might need more repairs but idk, can check for those that are more mint.

[JeremyGuitarStuff]

You guys are like mind readers. Was literally just debating this topic with a friend 😅

[TransparentUtoptia]

Explain the Tesla phenomenon, where they are going for more then list price, even with mileage on them

[JosephDickson]

Too many consumers conflate financial success with luxury items that keep them perpetually in debt. 😬

[joedessenberger]

I buy new but am not about to take out a ridiculously long loan. I would never go over 36 months with payments. Thankfully I don't have to take out loans anymore. My last truck went 18 years. My wife's car went 12. We commit to driving a car for at least 10 years. My current truck is 5 years old and has around 55, 000 miles. I will drive it to 200, 000 miles + which will again be 18-20 years. The only way I can reason buying a car new is that I know exactly how it was cared for from the outset. Religious about maintenance and drive them with respect. I see how many people treat their cars and I do not want to inherit the abuse and neglect.