Current Events > CE, should I buy a brand new 2020 car or buy something used with 70k miles?

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NOM
07/09/20 3:04:14 AM
#1:


Something at least post-2010. Could cost me anywhere from $10k-$15k where as the new 2020 car will be around $29k.

Decide for me I'm having second thoughts and all kinds of madness swirling inside my head! I'm supposed to go to a dealership tomorrow to finalize the deal on the 2020 car.

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Drug_Smoker
07/09/20 3:04:52 AM
#2:


Buy something with 69k miles

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Corrupt_Power
07/09/20 3:05:28 AM
#3:


Are you buying the car outright or on a 0% loan?
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R1masher
07/09/20 3:06:31 AM
#4:


Get a motorcycle and a helmet with a mohawk, youre gonna love the way you look

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NOM
07/09/20 3:08:03 AM
#5:


Corrupt_Power posted...
Are you buying the car outright or on a 0% loan?
It's either gonna be a 0%/60 month or 1.9%/72 month loan

Also gonna go to my bank and see if they'll offer something as well.

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MabusIncarnate
07/09/20 3:08:52 AM
#6:


Get preowned for sure, but aim for under 30k miles

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NOM
07/09/20 3:09:01 AM
#7:


Drug_Smoker posted...
Buy something with 69k miles
Heh heh, alll right!

R1masher posted...
Get a motorcycle and a helmet with a mohawk, youre gonna love the way you look
I don't like motorbikes and my head is too fat for most helmets :/

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Master_Bass
07/09/20 3:10:19 AM
#8:


Definitely a used a car. I can't stomach the way a new car depreciates so much the second you drive it off the lot. Nothing wrong with a good used car, and you'll save yourself a bunch of cash.

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WaterLink
07/09/20 3:23:05 AM
#9:


Master_Bass posted...
Definitely a used a car. I can't stomach the way a new car depreciates so much the second you drive it off the lot. Nothing wrong with a good used car, and you'll save yourself a bunch of cash.

Pretty much this. You're way upside down on your loan from jump on new cars. If you do some digging and don't mind traveling, you can find some really good deals online on ebay. Back in 2011 I bought a 2000 Volvo S70 off of ebay from a car shop in Miami (I live in Baton Rouge, LA so yeah had to travel for it). I paid about $3700 cash for it, and it had less than 30,000 miles on it even though it was over a decade old. The shop I bought it from said they were expecting a lot more money from the auction but sometimes you get those deals on a place like ebay if no one's found it or bidding against you.

It probably would have lasted me a long time but about 2 years after buying it I ended up selling it because I didn't drive anymore and was going through a weird period in my life. But during those 2 years, never had a problem. Probably would have lasted me a good long time if I had kept it. For my next car I think I'm going to go that route again tbh

Long story short, just look around a little more and you'll eventually find something that's what you're looking for with a good price, don't overpay or assume you need to take out a loan.

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Pitlord_Special
07/09/20 3:31:32 AM
#10:


I bought new and have no regrets. Better safety, better features, full knowledge of the vehicles history and maintenance. If you can afford it comfortably, then why not? (I bought mine on a 3 year loan and paid it back within 2 years)

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Corrupt_Power
07/09/20 3:44:15 AM
#11:


Pitlord_Special posted...
I bought new and have no regrets. Better safety, better features, full knowledge of the vehicles history and maintenance. If you can afford it comfortably, then why not? (I bought mine on a 3 year loan and paid it back within 2 years)

This. If you can comfortably afford a new car and there's a 0% option or you're buying it outright, then go for it. Everyone gets bent out of shape about the immediate depreciation, but it's your money and if you like the new features or design, like that you have your full factory warranty, etc., then do it!
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