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Thread: Pre certified (used) or new car?

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    Featured Member francescadubois's Avatar
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    Default Pre certified (used) or new car?

    Okay,

    So my baby is dying on me and I'm tired of putting money into the bitch. What are your car buying experiences as far as buying new versus used or pre certified? I'm tryiing to hold on to my hoop-ride until graduation, but it ain't lookin' to good...

    All advice is greatly appreciated..................
    "I came in like a lamb, but I intend to leave like a lion."

    -Sade
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    God/dess Mr Hyde's Avatar
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    Default Re: Pre certified (used) or new car?

    Quote Originally Posted by francescadubois
    Okay,

    So my baby is dying on me and I'm tired of putting money into the bitch. What are your car buying experiences as far as buying new versus used or pre certified? I'm tryiing to hold on to my hoop-ride until graduation, but it ain't lookin' to good...

    All advice is greatly appreciated..................
    Buy used. Get one with low mileage. Only buy new if you are very well off or just can't stand the thought of driving a car someone else has owned.

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    Featured Member aviendha's Avatar
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    Default Re: Pre certified (used) or new car?

    It depends on who you buy from. Go to edmunds.com and read up on negotiating with dealers--I did that before buying my car and it was extremely helpful. Research, research, research!

    Be aware that buying a new car means you get the warranty and all, but you also absorb the appreciation value. A car loses about 30% of its value the minute you drive it off the lot, and you'll be upside down on the loan (owe more than the value of the car) for the first year or two depending on your down payment. Generally, buying a car about 2 years old will give you the best value for your money--it will still have warranty left, usually, but the depreciation isn't as steep.

    That said, I bought my last car new, from a Dodge dealer who gave me a very good deal (and I knew this because I'd researched the invoice value of the car before buying) and didn't try to pull any scams with me. (I knew about the depreciation of new cars, but I felt it would be worthwhile because I planned to keep the car for its lifetime.) And the car has been very reliable, so I really lucked out. Ask around for the names of dealers your friends/family have dealt with, so you can get an idea of where you might want to shop, or NOT to shop.

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    Moderator Optimist's Avatar
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    Default Re: Pre certified (used) or new car?

    Did you research through Kelly Blue book, aviendha? Or some other source?

    Francescadubois there's a lot of cheap new cars coming out from Toyota, Dodge, Honda etc. They might be good for 6 or more years of use.

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    Veteran Member pipermarau's Avatar
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    Default Re: Pre certified (used) or new car?

    forclosure auctions are good places to find cars. they tend to be cheaper than buying from a dealership. you might even find an 04 for a VERY low price compared to what you would pay off the lot. good luck!

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    Featured Member francescadubois's Avatar
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    Default Re: Pre certified (used) or new car?

    ^^OOH!! I forgot about foreclosure auctions!!!

    Thanks!! Piper, did you buy or know someone who bought from a foreclosure auction?

    Thanks you guys!! Keep 'em coming!!
    "I came in like a lamb, but I intend to leave like a lion."

    -Sade
    Quote Originally Posted by Mastridonicus View Post
    The only thing a person hates more than being a sex object, is NOT being a sex object.
    Quote Originally Posted by TigersMilk View Post
    If you should your way through life you'll be should-ing all over yourself later.
    Quote Originally Posted by TheSexKitten View Post
    Finger pointing is awesome!! No really, it gets things done.

  7. #7
    Featured Member francescadubois's Avatar
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    Default Re: Pre certified (used) or new car?

    Also, Optimist, have you heard anything about these cheaper models??

    Let me get off here. Off to Corporate America (ugh).
    "I came in like a lamb, but I intend to leave like a lion."

    -Sade
    Quote Originally Posted by Mastridonicus View Post
    The only thing a person hates more than being a sex object, is NOT being a sex object.
    Quote Originally Posted by TigersMilk View Post
    If you should your way through life you'll be should-ing all over yourself later.
    Quote Originally Posted by TheSexKitten View Post
    Finger pointing is awesome!! No really, it gets things done.

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    God/dess GoldCoastGirl's Avatar
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    Default Re: Pre certified (used) or new car?

    What I did is stick to manual not automatic cars for starters and then researched which were the best older cars to buy (reliable, inexpensive to service, etc). Then researched prices ... and played the waiting game. I then found a v.motivated seller and by motivated I mean.. the seller needed to off-load the car quickly for the only reason that she was leaving the country at the end of the week.

    I checked out the car, nothing much wrong with it tho' I did spend a grand having it serviced (so that nothing much would go wrong with it for the 2-3 years I planned on keeping it) and could afford such a high priced servicing as I saved big bucks on the price (it's worth at the time was closer to $3000 and I paid $1400). So sometimes it plans to have a motivated seller tho' always have the car checked out if you buy privately compared to a dealer or any other place.

    Well, have the car checked out regardless of where you buy. Try to find a mechanically minded friend to go around to the car yards with you... and if possible find a male friend who is a decent negotiator to buy the car for you (as sad as it is .. it's a fact that guys do get better deals overall on cars than females.. plenty of research to back me ... unless I'm wrong???)

    I'm going to try to never buy new ... unless I can afford the total price out-right. As has been mentioned, the depreciation is not worth it (the upside down on the loan part).


    enter: E3167322D9 for your 10% discount

  9. #9
    Sitri
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    Default Re: Pre certified (used) or new car?

    My Nephew was trying to buy a car a few weeks ago and the dealer was really screwing him. Fortunately he called me and I was able to convince him it was a bad deal so I helped him buy a 2003 Grand Prix.

    We bought if from a dealer who was asking $13,000. We ended up paying $10,000. The Bank had a NADA value of $13,200 and since he could get an 80% loan, he was able to borrow $10,500 on the car for a 4 year loan.

    I think it is actually really rare to get this good of a deal from a dealer. But the lesson I taught him was.

    Negotiate hard.

    Do not finance through the dealer. If you can, finance through a bank. This will give you the ability to slow the dealer down and get a realistic loan value on the car. The bank is on your side to make sure the car is worth the loan. He financed it through a bank and got a 7.95% 4 year loan.

    Don't sign any deal until you know what the NADA value of the car is.

    Take the other advise above on finding a reliable car.

    Don't forget you need money for tax, tag, and title.

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    God/dess VenusGoddess's Avatar
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    Default Re: Pre certified (used) or new car?

    I do not advise anyone buy a car from a foreclosure/repo auction. It may SOUND like you'll save a lot of money, but a lot of these auctions do not allow you to "check" the mechanics of a car...you are expected to go in, find a car and bid on it...without knowing how well it runs.

    These are good places for dealers to go, but they are very experienced in the car buying and can spot the small signs of major problems. Unless you are extremely mechanically inclined, I would say that it's not a good deal. Dealers also have the shop to fix up cars and put them on the lot.

    Buy used. We bought a 2004 Subaru Forester with extremely low miles and in perfect condition. Still cost a nice chunk of change, but everything is under warranty and Subarus hold their value better (they don't drop in value as quickly as, say, a Ford).

  11. #11
    Pamela
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    Default Re: Pre certified (used) or new car?

    The biggest factor i think when automobile shopping is miles. You want low miles! Also take the vehicle to your mechanic before purchase, any good lot will allow this.

    If it's new 06, you just lost a LOT of money when you drove it off the lot. I never (well messed up a dew times, no more) buy new. Always stick (if money allows) 2 yrs. older!

    Good luck!

    Pamela

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    God/dess Emily's Avatar
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    Default Re: Pre certified (used) or new car?

    the thing about CPO cars is that oftentimes the dealer gets first pick of off-lease cars. If it's got issues, they will pass it off to another used car dealer. So I would go to a dealer. Plus they often have greeat finaincing rates for CPO cars. I got my Lexus for 1.9%APR and it helds its value very well when trading it in for my current car.

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    Featured Member lunchbox's Avatar
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    Default Re: Pre certified (used) or new car?

    Quote Originally Posted by VenusGoddess
    (they don't drop in value as quickly as, say, a Ford).
    My Ford is 4 years old, has 20k miles, and has lost ~half of it's value from the MSRP.

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    God/dess Emily's Avatar
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    Default Re: Pre certified (used) or new car?

    generally speaking, fords (and all domestics) don't hold their value. The cars with the highest residual vlaues are imports.

    http://www.cars.com/go/advice/Story....dual&aff=msnbc

    i t hink the exceptions would be hybrids. There will be a demand for those for awhile.

  15. #15
    Pamela
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    Default Re: Pre certified (used) or new car?

    ^^^^ yep. However the car that is BAD is all electric and is THE fastest car to hit the road so far. Beat only by the French car Bugatti Veyron!

    It's a X1!!!!! I can see Jay Leno buying one of these boys!

    Now all those batteries are going to be a bitch

    Pamela

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    God/dess VenusGoddess's Avatar
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    Default Re: Pre certified (used) or new car?

    Hmmm, well my Subaru is 2 years old...bought for $23,000 and it's valued (in it's current condition) at about $21,000. Brand new, the car sold 2 years ago would have been about $28,000.

    It's held its value quite well. Nice to know.

    If you are going to buy a car...and want it for a while (or are going to be making payments on it) you really want to get a car that will retain its value for a while. Toyotas are really good, sound, and reliable. We also have a 1999 VW Passat, while the body looks kinda bad (Scorpio drives and parks in the city of Chicago, so the bumpers are completely fucked) the engine is completely sound (no problems what-so-ever) and the car has 130,000+ miles on it.

    And, I agree that you should have the car checked out by a trusted and reliable mechanic. Don't trust the sales guy when he says, "Yeah, our service dept. checked it over and said it was good." What that usually means is that the made the necessary repairs for it to pass consumer inspection...but not necessarily MECHANIC inspection.

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    Featured Member francescadubois's Avatar
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    Default Re: Pre certified (used) or new car?

    Thanks again, guys!!
    "I came in like a lamb, but I intend to leave like a lion."

    -Sade
    Quote Originally Posted by Mastridonicus View Post
    The only thing a person hates more than being a sex object, is NOT being a sex object.
    Quote Originally Posted by TigersMilk View Post
    If you should your way through life you'll be should-ing all over yourself later.
    Quote Originally Posted by TheSexKitten View Post
    Finger pointing is awesome!! No really, it gets things done.

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