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Old 05-16-2013, 12:51 PM
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Used cars for restoration or new cars for a signed lease.

I have been having this debate for a while and am doing some research for a paper about people tending to buy older cars even with the risk of having to do work on them, instead of buying brand new cars. People keep talking to me about how they wish they could have this car or another but never do I hear that they are buying new cars, they always buy cars 5 years or more old. So here is my question. Do you think that the used car market is higher than ever? What are your thoughts, would you buy a new car? I know I wouldn't buy most. All of them look the same for the most part..

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Old 05-16-2013, 03:35 PM
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I'd buy used every time! I've bought exactly TWO new cars for street use and one new one which became a race car. My wife ash had exactly ONE brand new one as well. Of the two new ones, one was such a lemon that I had to sue the maker to get them to take it back and refund my $$$. In 6 months of ownership, it spent more than 4 months in the dealer's shop.

I have only ever had one bad experience with a used car and I have had many,many used cars.

From a financial standpoint, buying a NEW one is dumber than using hundred dollar bills as toilet paper. Leasing is not high on my priorities either (although my company tends to lease cars for us)

I'd rather have a 10 year old Lexus than a brand new Ford/Chev/Dodge (a "Forvrolodge"?)

Nicer car, better value, better performance, more reliability, better comfort etc in a 10 yr old Lexus than a brand new ANYTHING else!
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Old 05-16-2013, 04:41 PM
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Depends, if I was in the market for a financed Subaru, it would be new every time as the cost of buying a new 1 with 5-100 miles over a used 1 with 20,40 even 50k on it is minimal. Even 4 year old cars with 40k miles will cost within $4k of a brand new model.... Any other brand and I would only go used
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Old 05-16-2013, 04:58 PM
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I think alot of people are buying used more so now because like was said most models of any maker are basically the same in and out. Its the being different factor which is dieing out more and more every year. And with the economy the way it is alot of people have awful credit limiting them bank loans. If you watch movies that incorporate a world in the future look at the autos and the economics of this said time frame then think about right now and go to a dealership and look at the styling and options that are offered with each auto maker in the new autos section (s). It shares similairities that really make you think...most are disturbing.
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Old 05-16-2013, 05:09 PM
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if I thught I was going to keep car, I'd take the hit on buying new, like a new camaro/mustang/etc.
2 reasons, one if I'm going to keep it for a long time, I want to know it's history from day one, and second, these type cars tend to be beat on.. and a 20k cream puff. can be a p.o.s. on top of that they tend to be on lots used after they get hit..
now a reg daily I'll buy used.. my daily is a 84 fiero. that I got for a song because it needed a heatercore and valve seals,
gets 40mpg highway and 34 around town.. and no car payment..

only reg daily I'd think of buying new is the new caprice a.k.a. SS.

sometimes used cars cost to much, and you can buy new for a little more..
case in point.. when we looked at sporttrac's for the wife a 4 year old sport trac was 2 grand less than a ex cab loaded f-150 , if I had my way ,we'd have bought new, buy the ford dealers where not willing to sell the new sporttrac's they wanted sticker.. some of that was the rebates ford was running at the time, and the other is my wife couldn't keep her dam mouth and showed out hand..
the other was in 2004 I was looking at trucks and stopped into a dealer to look at a used reg cab,short box 4x2, it wasloaded and they wanted 23900.oo with the rebates at the time, the new loaded 4x4 5.3/auto z71 was 26078.oo just over 2k for new over 32k mile used.. I bought new..

I like used daily's as I can buy cheap and fix the little ussies, but if I wasn't mechanicly inclined, I'd buy new or lease then buy if I needed to spread out the cost, as used cars most times are fixed with the cheapest replacement part a shop can find.. and that can mean huge problems down the road..

a lease then buy or trade in, you'll take a huge hit $$$ wise 9 times out of 10, but it's a balancing act, for those that have to pay someone to fix a car, a lease is a structured known cost, where as the car breaking and paying a shop to fix can be 500-1500 whammie..

for those that only need to go 10-12k miles a year some leases at 159 a month is a way to always have a new car and no repair bills..
those that drive more than that.. leases are stupid..

with the amount of electronics and computers and wiring in newer cars,
it may come to come that leasing will be a better deal over a 5 year old car with a 3000.oo+ computer screen in the dash.. as they will not last..
and the cost of repairs will outweigh the cheaper buy in..
and why my cars tend to be 20 years old or older
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Old 12-18-2013, 10:22 AM
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restoration or new

I have chosen used and restorations for myself. I bought my wife a new (cheapest one I could find) car to make sure we have reliable transportation if I am working on mine at the time. I am apalled at the thought of spending 40K for a new truck, as great as they look and having them drop in value daily. As Dave Ramsey says it is a "stupid tax", we pay interest on an asset with decreasing value!! I can work on cars, so I choose to do it. I agree with a lot of other comments on here... if you can't do it, don't have the time or space... why try....

They younger crowd I work with is all about the new cars, latest electronics and gadgets... I have a 68 F100 I am just about done with restoring... no power windows, no fancy $3000 stereo, but it gets looks from everyone. The young guys at work dont have mortgages, college tuition, 401k's, kids, etc. etc.

There are people I work with who dont mind paying 20%+ interst for a loan as long as it fits the monthly payment and they look good int their ride.

Bottom line... I will always have a project car around... and I buy used... let someone else pay for the overpriced new vehicles... I'll pick it up on the flip side for what is is really worth and keep it going.
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Old 12-18-2013, 10:44 AM
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i buy used, say 5 or 6 grand. that is about what i would lose driving that brand new one off the lot! so now i still have that $20,000 on my side.
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Old 12-18-2013, 02:43 PM
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A couple of months ago my wife and I decided it was time to buy a "new" car for her to replace the last "new" car we purchased 5 years ago. This time she had her heart set on a Chrysler 300. We looked at 2007 to 2008 with a max of 60,000 miles. After nearly buying a 2007 with 79,000 miles, I called a private party that had a fully optioned hemi 2008 with 40,000 miles. He had been asking the 21,900 blue book and had no offers or calls. He had just lowered the price to 18,000 before I called him. I offered 13,900.00 and told him this was my max and had cash. He called back within 15 minutes and accepted the offer. When we went to his bank to complete the transaction the loan officer about fell over when she learned what he had sold it to us for. There are some really awesome deals out there. Just like the last car we purchased and drove for 5 years and resold for 3000.00 dollars less than we paid for, this one should have an even better bottom line when we sell in 5 more years. I refuse to pay the new car stupid tax. Don't ever finance a depreciating asset.
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