New vs. Used Car...........

[redgtxdi]

In damn near everything I say there's a "sweet spot" or "price groove". (i.e. Don't buy a P4 3.8EEE killer monster CPU for $500, instead buy the A64 3.2 for a fraction of the price, etc.)

Anyway, after having taken a look at quite a few *used* vehicles.........(I've been lookin' in the $2K -$3K range)......I've come to the conclusion that these folk's idea of *clean*, *immaculate*, *like new*, etc. etc. are nowhere near mine.

After every one of my test drives, I've gotten back into my '98 Camry (like new) and felt sooooo good about owning this car. Soooooooo.........I'm stuck with a debacle........

If I really want another car, maybe I just wanna look for another Camry like mine??? (That'll put me out of the $2-$3K range and into the $6K-$7K range)

Oorrrrrr..........maybe if I'm *that* close to $10K, maybe I just wanna do one of those $9999 cheap Korean cars??? Get the warranty, the new technology, etc. etc.???????????

 

[AnonymouseUser]

Originally posted by: redgtxdi
Oorrrrrr..........maybe if I'm *that* close to $10K, maybe I just wanna do one of those $9999 cheap Korean cars??? Get the warranty, the new technology, etc. etc.???????????

You will never be satisfied. Your "old" Camry has a lot of creature comforts that those "cheap Korean cars" don't/won't have. You will miss many of those almost as soon as you drive one.

IMO, it is better to have a nice, comfortable, used car than a mediocre, uncomfortable new car.

 

[packmule]

You should look for a 76 Duster or a Vette... Chevette that is....

 

[thomsbrain]

IMO, the $6000-$8000 used car (japanese cars, anyway) range is the sweet spot. for that price, you get a clean mid-size sedan with a little less than 100K miles, or a newer compact. either way, you'll get another 100K out of it for not too much trouble, and you can sell it for $2-3K afterwards. 100K easy miles for no more than $6000 depreciation isn't too bad. I'm assuming you adhere to scheduled service intervals, of course.

 

[redgtxdi]

Thanks for the replies gang!

Yes, I'm pretty anal about maintenance. I lost my very first new car to a blown head gasket and I vowed that'd never happen again. I make sure maintenance is a priority.

My concern would be finding a vehicle like mine having been maintained like mine.

And, to be honest, the new Korean cars are actually very similar to the older Japanese cars. I drove a new Elantra recently and was very surprised at how refined they've become. And an '06 Sonata is certainly every bit as nice a car as the Camry anymore. (And most definitely nicer than my Gen4 camry).

But...........if I bought new, I'd probably go the Accent/Rio route. I looked at Toyota Corollas, but they want waaaaaaay too much friggin' money for those things. Might as well get a Camry........there's really not much difference in price!!!

 

[TheNinja]

If you're paying cash, then a used car is a much better option b/c you don't take the initial depreciation. If you are financing it can get trickier b/c some new cars have 0.9% financing sometimes and used have 6.9% for example. At this point you either pay for financing or take a hit on depriciation so you'd have to weigh your options.

 

[redgtxdi]

Well, I'd definitely pay cash for anything used under, say $5K. After that, I'd just as soon finance, which is why I get to the point where I wonder......"Heck, why not just go get a Hyundai?"

And, FWIW, I wonder how much the cars that run those rebate/or/0.9% deals are really worth. Notice (for example) how those finance rates usually stick around for a long time and if they ever go away, the prices typically drop. So are we really *saving* anything when we jump on those deals or is it just another version of a snow job??

(i.e. If over 4 years you pay $1,000 worth of interest on a $14,000 car 'cuz you got the *deal* rate, what's the difference between that and paying $2,500 interest on the same car later in the model year that actually sold for $12,500?? They're both ultimately $15,000!)

 

[AnonymouseUser]

Originally posted by: redgtxdi
And, to be honest, the new Korean cars are actually very similar to the older Japanese cars. I drove a new Elantra recently and was very surprised at how refined they've become. And an '06 Sonata is certainly every bit as nice a car as the Camry anymore. (And most definitely nicer than my Gen4 camry).

But...........if I bought new, I'd probably go the Accent/Rio route. I looked at Toyota Corollas, but they want waaaaaaay too much friggin' money for those things. Might as well get a Camry........there's really not much difference in price!!!

Yes, the new Hyundais are nice, but for the price range you mentioned you couldn't match the Camry. You don't want to downgrade to the Accent or Rio no matter how much newer it is.

 

[sniperruff]

look for another camry, or a used elantra. the 01'-current model is pretty decent.

 

[AnonymouseUser]

Originally posted by: redgtxdi
Well, I'd definitely pay cash for anything used under, say $5K. After that, I'd just as soon finance, which is why I get to the point where I wonder......"Heck, why not just go get a Hyundai?"

And, FWIW, I wonder how much the cars that run those rebate/or/0.9% deals are really worth. Notice (for example) how those finance rates usually stick around for a long time and if they ever go away, the prices typically drop. So are we really *saving* anything when we jump on those deals or is it just another version of a snow job??

(i.e. If over 4 years you pay $1,000 worth of interest on a $14,000 car 'cuz you got the *deal* rate, what's the difference between that and paying $2,500 interest on the same car later in the model year that actually sold for $12,500?? They're both ultimately $15,000!)

I had a similar situation when I bought a Protege5 in 2003. Mazda had 2 offers available for it: $2500 rebate or 0.0% APR. I opted for the $2500 rebate off the top and financed the remainder @ 3.9% because it was cheaper overall. I had to sell it this year when my wife and I split, but I wasn't upside down (thanks to the original rebate) so it didn't hurt.

 

[ElFenix]

sometimes the best option is just to keep the car you have. although at 7 years old the maintenance bill will be getting pretty large pretty soon, as stuff tends to wear out.

i think the real sweet spot is a 2 or 3 year old used car. probably off lease. most of the big depreciation has already happened, yet the car will probably be trouble free for several years to come.

 

[redgtxdi]

Actually, I think the Camry will be quite trouble-free for the next 100,000 miles........(It's at 108,000 right now).

I've had full radiator and tranny flushes at both 50,000 and 90,000 miles. Car still shifts as well as it did new. Also runs as well as it did new.

When I had the timing belt done at 90,000, I also let them have the gammit at the dealership. Water pump, thermostat, front cam seal, front crank seal, valve cover gasket, dist. cap, plugs and wires, drive belts and fuel filter. I think I literally left "no stone unturned". I told them if it needed it, to change it and they did.

I can do the brakes in my sleep.....(actually taught my 7 year old daughter how to do the brakes and now she helps me bleed brakes....LOL). I always keep a set of fresh rotors and new pads on my workbench to swap with the old set so brakes literally take me about one hour (including bleeding).

About the only thing i could see going wrong soon might be struts totally letting loose, but even then, you can put that kind of stuff off a good long while depending on your level of tolerance.

If I could buy a car EXACTLY like mine, I'd pick up a 2nd in a second.....(no pun intended)!!!

 

[desy]

My 94 Chev Corsica has 200K on it. I've changed an Alternator and a heater core 'myself <$100' Thats it, everything else has been maintenance .

I plan to drive it 2-3 more years and put one another 30-40K miles
I think your Camry will have a lot of miles left in it.

 

[redgtxdi]

Oh ya.........it's definitely a keeper. I don't plan on getting rid of it, I plan on adding another vehicle and parking my (also like-new) '98 Ford F150 Scab. (weekend use)

At the beginning of this year it meant a savings of $80/mo. Then a couple months ago it meant a savings of $100/mo. As of today it means a savings of about $120/mo.....................by going to a 3rd vehicle that gets approx 27mpg.

It was a joke w/ my wife and I earlier...............now it's serious!!

I'm also not above including a 3-cylinder 1.0L Geo metro on my short list!!! (40mpg)