CPO Lux car or new ?

[z1ggy]

A while back I posted asking for advice as to buy a wrx/ms3/gti. Well when I got wind the ST was coming to market and the veloster turbo, I waited. I also became slightly interested in a CPO Bimmer/Benz/Audi. For around $26-28k (ok the veloster is cheaper, but that one is last on my list) which would be the wiser buy? The used lux car or the new(er) ST/veloster?

P.S. Some back round info to help you. I am 24, live in the north east and I would prefer AWD (currently have impreza) but would be ok with fwd if the dealer cuts me slack so I can afford some nice winter tires. Clean driving record.

 

[jlee]

You're looking at a $28k car but can't afford winter tires without a deal?

 

[xSkyDrAx]

Are you prepared to deal with the maintenance on the CPO's? If you want some luxury you can probably go with the GTI and have the peace of mind with the new car.

Focus ST would be a nice choice too but it gets up there in price once you add a few options.

I would also probably keep that Velostar on the back of your list.

 

[z1ggy]

You're looking at a $28k car but can't afford winter tires without a deal?

Oh.. no I mean I can, it would just make the deal better for me since I'd prefer AWD over FWD. Guess I am more or less asking if anybody has experience with 4-5 year old CPO luxury cars and how they'd rate that versus buying something brand new or 1 year old. Reliability, maintaining the vehicle, etc. I know the hatches are a bit of a different market then a 328ix or something, but those are the cars I am mainly interested in.

 

[jlee]

Oh.. no I mean I can, it would just make the deal better for me since I'd prefer AWD over FWD. Guess I am more or less asking if anybody has experience with 4-5 year old CPO luxury cars and how they'd rate that versus buying something brand new or 1 year old. Reliability, maintaining the vehicle, etc. I know the hatches are a bit of a different market then a 328ix or something, but those are the cars I am mainly interested in.

Ah, ok. I have an 8yo used semi-luxury car (04 CTS-V) - I do my own maintenance, though. So far I've replaced front brakes, tires, trunk struts, and I have a window regulator waiting to go in, at ~71k miles. Check the maintenance schedules for whatever you're interested in - I've seen a lot of Subarus for sale at just below 105k miles..almost as if the seller got a timing belt job quote from a dealer at $990 and decided to buy a new car instead.

 

[z1ggy]

Hah, yes I have my impreza maint. schedule saved on my computer. I will have to find the others. I am able to do things like change oil, change brakes/rotors but that's about it until I learn more. I like the idea of a newer car, but I hate that I lose so much money. I like the idea of a luxury car, but hate the idea of paying out the ass for it.

As far as brand goes...in the model years of 07 or 08, how do the german makes stack up? I am sure I could go find 50 reviews on each car and comparison tests, but I do value personal stories and experiences from forum members.

 

[ballmode]

I'd pony up 40k for a Lexus ISF and not worry about CPO from the BMW/Audi/Benz trio.

Just drive the lexus and chill.

Although for 75-80% of the performance you could just get a Lexus IS350

 

[z1ggy]

I'd pony up 40k for a Lexus ISF and not worry about CPO from the BMW/Audi/Benz trio.

Just drive the lexus and chill.

Although for 75-80% of the performance you could just get a Lexus IS350

For 40k I would probably have to wait another 1-2 years to save up more money for a down payment. 28k is about my upper limit due to my income and my trade in value. Spending almost 50% more isn't really super reasonable unless I leased, which... I don't see the point in ever doing.

 

[ballmode]

its cool

 

[007bond]

I'd pony up 40k for a Lexus ISF and not worry about CPO from the BMW/Audi/Benz trio.

Just drive the lexus and chill.

Although for 75-80% of the performance you could just get a Lexus IS350

Huh? A new IS F starts at over $61,000.

 

[redgtxdi]

I'd say used CPO and get a decent warranty with it.

I'm living proof that buying new does NOT mean you get a good car.

 

[_Rick_]

If you get a 3.0 Audi A4 quattro over there, that, or even an S4 might fall into your requirements of AWD, sporty, and somewhat luxurious. Or a 335xi, if you get those.

Or! Older Carrera 4. 993 or so. Not yet on your list, but sporty, luxurious, 4wd - only two real seats and less boot space, but I don't know how much of that you will need.

Also check for insurance on the different models before buying. Always factor that into the real cost (depreciation + repairs and inspections + consumption + insurance + taxes + credit). The actual initial expenditure isn't what you should be primarily looking at.

 

[z1ggy]

Good advice, I will have to check insurance rates before hand, too. How much and how valuable are the warranty that can be bought? The 10yr/100k mile for the veloster sounds really great, but I will void that if I do an ECU tune right?

 

[ichy]

You're talking about getting a Mercedes/BMW/Audi at 24? HORRIBLE financial decision.

 

[ballmode]

You mentioned CPO so I figured used ISF they tanked in value

 

[z1ggy]

You're talking about getting a Mercedes/BMW/Audi at 24? HORRIBLE financial decision.

Aren't all cars...?

 

[HybridSquirrel]

Aren't all cars...?

that depends, a used $2000 dollar beater is a great investment.

 

[Sidekicknichola]

Guess I am more or less asking if anybody has experience with 4-5 year old CPO luxury cars and how they'd rate that versus buying something brand new or 1 year old.

+1 for Lexus

I had an IS250 AWD and now have the IS350... love the car. It was at the dealer as a CPO but I said that if they knocked off $3k I wouldn't take the warranty ( seeing as I basically had 15 months of driving until I broke the 100k mark anyway), 3k in 15 months would be a lot of repairs and since it passed the 161 (or something) tests it was in good shape. The dealership agreed and I bought it that way.

I'm currently at 105k (just would have gone out of warranty) and the car hasn't had a single problem (knock on wood). Its a fun car to drive, Lexus's AWD and stability systems are amazing in snow (I'm from Wisconsin), the interior is extremely comfy (except for the cupholder placement), I get 28 mpgs on the interstate at 80 mph, and its also has an amazing ride (even with 18s and lower profile tires).

I did do the brakes on the car (did them myself) which cost me like $250, just recently had a safety recall done (free from dealer) and while it was in for the recall I had them do the spark plugs which cost me $310 (for plugs and labor).... other than scheduled items (oil changes / tires / etc) I haven't had any other expenses with the car.


If you don't go Lexus or Acura and go with something Euro then I would suggest a 335xi but I WOULD get the CPO warranty... I don't trust BMW (I've had bad luck with them and would NEVER own one out of warranty - just my past experience though).

...I have seen used IS-Fs around here for 36k +/- .... but good luck in the winter.


Here is mine after some fun in the snow

 

[Sidekicknichola]

Quote:
Originally Posted by ichy
You're talking about getting a Mercedes/BMW/Audi at 24? HORRIBLE financial decision.
Aren't all cars...?

BTW I am 24 currently and have owned the car for about 17 months... and I totally disagree it being a bad financial decision. I have a good stable job (car is currently paid for), got a screaming deal on the car, and plan on driving it until it dies.

I spend a lot of time in my car (put on 45k miles since I bought the car) so I wanted something I enjoyed driving... of course it will lose value (any car will) but I would much rather have this car with the piece of mind it is safe and reliable rather than something I would be picking up for $2000.

 

[ichy]

I spend a lot of time in my car (put on 45k miles since I bought the car) so I wanted something I enjoyed driving... of course it will lose value (any car will) but I would much rather have this car with the piece of mind it is safe and reliable rather than something I would be picking up for $2000.

You're presenting a false choice between two extremes (Mercedes/BMW and a $2,000 beater.)

Getting an expensive car in your mid-20s isn't automatically a bad choice, but the vast majority of Audi-buying 24 years olds are making a horrible financial decision.

 

[Sidekicknichola]

You're presenting a false choice between two extremes (Mercedes/BMW and a $2,000 beater.)

Not me, this was suggested before, and I went with it:

that depends, a used $2000 dollar beater is a great investment.

I think today you can't get shit for $2,000 unless YOU plan on doing work on it... otherwise that $2,000 car will cost you $6,000 in no time.

but the vast majority of Audi-buying 24 years olds are making a horrible financial decision.

I think that is totally unfair to assume... 24 is the age were people are finally getting out of school, after years and years of living like a poor college kid (I sure was) I was now out and making money.... sure someone with their first job shouldn't be buying a R8 but a lightly used A4 is only in the low 20's, certainly affordable.

... again I can only speak for myself but in no way feel my owning a luxury car at 23 was a mistake -
I was able to land my current job with the following terms:
Hired in Feb. 2011 (still a full time student) and received 80% of my salary until graduation (to keep me from finding other opportunities) which was 4 months away.... So I was now receiving nice sized checks while sitting at school. This paired with the fact my 2000 Honda Prelude was burning oil like crazy meant it was time for a new car.

Purchased the IS250 for 13k out the door after the prelude trade-in, a few months later upgraded to the IS350 while keeping my payment the same (sold the IS2 for 17k -making 1k on the deal on after figuring in the prelude's value).... took that 17k and got an IS350 for 18.5k (taking away the CPO warranty)

.... fast forward a year and half later....

Now I have a fully paid for IS350 at 24 years old, 5k in school debt, zero credit card debt, and am well on my way to a down payment for a house.

.... you're probably thinking mommy and daddy helped me out somewhere along the way, I can assure you they did not, I've worked hard since I was 16 and was able to pay my way through school (with minimal debt). Just because someone is young doesn't mean they're an idiot.

 

[ichy]

Sidekick:

An IS250 is a very different car from the Audi S4 that someone else proposed. An entry level Lexus should be able to provide years of reliable transportation, whereas a high-end Audi is going to be a rapidly depreciating, money-devouring maintenance nightmare. A Mercedes probably won't be much better.

 

[z1ggy]

^^ Agreed. I own my own house. My parents didn't help me other then my mom buying me a new washer. Just because I am young, doesn't mean that I don't have a head on my shoulders. Why else do you think I am here asking for advice? I am not set in wanting a lux car. I want the best situation for the money I am willing to spend.

 

[Sidekicknichola]

An IS250 is a very different car from the Audi S4 that someone else proposed.

Someone else proposed... not me.... i proposed a "sporty AWD luxury car" in the IS350... it seems to fit his needs quite well.... all you have added to this thread is a little trolling. If you don't have relevant things to contribute, why bother?

I also became slightly interested in a CPO Bimmer/Benz/Audi. For around $26-28k

I never said S4 and neither did the OP, from his post and price range I assume he is looking at a4/a6 08+, 328/335xi bmws 07+, MB C300 4matic 08ish
.... sure we would all like (myself included) S4, C63, M3, etc etc but based off his desire for AWD and price range, those cars aren't really part of the equation

 

[z1ggy]

^ Not to mention the S4 is a V8 that gets 20mpg highway. Beautiful Beautiful car, sounds and looks amazing, but until I am like 50 and my future kids are in or out of college, I can't afford that. I think out of all those listed I like the 335ix the best but I would definately take a look at the IS350.

My main concern is after 1-2 years the thing is going to start crapping out and I will incur tons of costs for repairs. My current car I got brand new, I have only had the normal things go wrong ( dead head light, etc). That's the only thing I am overly concerned with in buying a car thats 4-5+ years old.