With the economy is it worth buying a new car?
By Cars & Motorcycles on Apr 26, 2009 with Comments 5
cubanchongo asked: We bought a car new within 6 months it depreciated 6k! do you think its even worth buying a new car nowadays?
we bought a windstar last year..we put 30k on it..and its worth more now..than what we paid cash for..
of course i know about leases..nobody leases expensive cars there is no point..the thing is that my family puts a lot of mileage on our cars.
Filed Under: Buying New Car
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It depends on the car. I bought a Subaru WRX a year ago for a very good deal and now the blue book value is more than I owe. Have to think about resale value when buying a car unless you are going to drive it forever. Can’t buy a dodge and complain no one wants them 6 months later.
Never buy a new car. The depreciation is outragious…You spend $6k and did not get one box of pop corn.
NEw cars lose 30% in the first year and 60% in 3 years.
A $2000 car will be just as reliable as a $6000 car as both are not under warranty anymore.
Pre 1996 cars are cheaper to repair because the 1996 and newer OBD-II computer system has much more expensive components to replace i.e. A 1990 O2 sensor is $20 vs. a 2000 O2 sensor at $280 for the same car.
I drive a 20 year old plymouth. it gets 24mpg city did not come with A/C, I just replaced the whole radiator for $150, and besides that is very reliable and easy to fix, since there is lots of room under the hood.
Oh, and it seats 6.
Of course it’s worth it…..to be the first owner, to have the new car smell.
There are deals to be had you just have to know where to find it.
Here are my tips on buying a new car.
- Buy at the end of the year or when you know it’s been almost a year since that model is released. Many times there are rebates from the factory that can save you $1000′s.
- Go to places like that show what other’s have paid.
- Do your homework and see if the car is hot or not. If it’s hot don’t expect to save too much whereas if it’s not dealers might be inclined to just get rid of it.
- Play the competition game and call to see who can offer you the best deal and let these guys battle it out. Sure you won’t make friends with them, but who cares you’ll feel good about saving money.
- Choose to speak to Sales Managers not sales guys. I’ve found that speaking directly to sales manager and proposing your price will get you a much better price simply because it shows you’ve done your homework and will add respect to your call.
- Be sure to call around. Don’t go on the lot unless you want a test drive. Being 23 dealer’s size me up like I don’t know anything and try to push me around. When they see me….they can’t believe it lol.
If you really want to get into a new car and your like me and want to upgrade every 2 years….Lease it.
58% of people in Beverly Hills lease their Audi’s and BMW’s you can return it with no hassle and not lose any depreciation. In fact, the money you lost from depreciation like your $6,000 could have been the money spent on having the car for 2 years!! I kid you not.
with the rising gas prices.. id say no.
buy a bike(: