What is the fascination with buying a "new" car?

[ringmastery]

I never understood the fascination with buying a brand new car.

There is so much depreciation in the first few years of a vehicle.

If you need something "new", it pays to buy a 2-3 year old car with 30,000-40,000 miles on it. You'll save many thousands that way and the difference between a '01 and a '04 or '05 in many cases is negligible.

[Donkeyboy75]

1. Nobody has farted in the seats.

That's worth a few grand.

[ringmastery]

2. new cars are test driven all the time at the dealership.

no telling how many people have farted in them.

[Donkeyboy75]

Sure, but 300 miles worth of farts are better than 30,000.

I don't believe in buying new, either. The ONLY advantage is that you get a better warranty, and you certainly know the history of the car. I've been involved or have witnessed far too many fucked up used car purchase stories. I think that the trust factor is part of the depreciation factor.

[gpandas]

15. that's what my wife says n/t

[Robb]

3. Dealer financing.

Absurdly good rates, nothing else can compare. So if money's tight but a vehicle is required, usually a new car is cheaper in the month-to-month world.

[Lydia Leftcoast]

6. But you still end up paying more for longer

when you add up the interest.

And if you lose the car in an accident, the insurance co. will pay only its book value, which may be significantly less than the payments you have left. This happened to me once when the balance on the loan was nearly $2000 greater than what the insurance co. was willing to pay.

You can get a former rental for thousands of dollars less than a new car, and rentals are well maintained.

My current car is actually a transfer from my mother, who no longer drives, but in the past, my philosophy has been to buy a former rental and pay it off as quickly as possible to save on interest charges.

[Robb]

8. Oh, of course you do.

...But like credit card debt, it's not in the equation when living paycheck to paycheck. I'm not saying it's wise, just that it's often the only option.

Look at how they get ya. :)

[Feanorcurufinwe]

4. Isn't it bizarre that you can spend $50000 on a car, or $500

and they do the exact same thing?

[gmoney]

5. Fear of buying a used car? Patriotic duty?

To some people, buying a used car means you're buying someone else's problems. A new car shouldn't have the problems, and you get the so-called warranty.

It's also the American consumer's job to consume! Must have the latest and greatest! Must have it made to order! Status!

I don't buy into myself, personally, but if I was wealthy, maybe... thank goodness SOMEBODY buys new cars, as they really prop up the economy. Plus, you can't have used cars unless someone buys a new one and sells their old one.

[TexasBushwhacker]

16. Yeah, why is someone selling a car that's only a couple years old

I wouldn't buy a high mileage used car, so I would wonder why this person is getting rid of a car that only has 20K to 40K miles on it. The only used car I would buy would be from a car rental service like Hertz or Avis. Those cars are kept in tip top condition and they don't cost as much as "certified" used vehicles because they've already made their money on them by renting them. Sometimes it's hard to find THE car you want though, especially if it's an import.

Personally, I buy my cars new, pay them off as quickly as possible and drive them until they kick their little car legs up and die (ie. when they start showing signs of needing major work). I put over 150K miles on 2 Mazda 626's that way, then I was still able to get about $1000 for each of them. I currently have a paid for 1998 Honda CRV with 65K miles on it which I'm going to sell for about $8K. Why? Because I'm driving my mom's 1995 Crown Vic which only has 65K miles on it. I can by it from her estate for $2K and put $6K remaining in the bank and still drive it for at least another 2 or 3 years if I want. Yeah, it's a land barge and it gets about 4 MPG less, but I like that $6K in the bank.

BTW, many people end up buying new cars because the monthly payments are lower, even though they're over a longer period of time. You can't usually finance a used car for more than 3 years.

[St. Jarvitude]

24. Lease ran out

Both of my family's cars were bought 2 years old after their respective leases ran out. The fact that both of them are dying pieces of shit today has nothing to do with that, I can assure you :)

[Servo300]

7. It's that new car smell.... (n/t)

:wow:

[delete_bush]

9. Consisting primarliy of...

Benzene, a known human carcinogen; acetone, a mucosal irritant; cyclohexanone, a possible human carcinogen; ethylbenzene and MIBK -- systemic toxic agents; xylene isomers, a foetal development toxic agent.

[Servo300]

10. gee....

& I always thought it was carpet, upholstry, and plastic. :-)

[democracyindanger]

11. I bought my first new car last year

After years of owning nothing but used. There were lots of reasons, but if I had to pick one it'd be the Known History factor. No worrying about how soon I'd have to replace the clutch, or if there are hidden rust spots, or how faithfully the previous owner(s) maintained the engine, etc.

That and the low fart count.

[DS1]

13. Wow, two fart posts in the same minute. So it must be true

[democracyindanger]

14. <sniff>

I'm getting a little teary thinking about that 'first fart'. Ah, the memories.

[Feanorcurufinwe]

17. The 'Lemon Factor' balances out the 'Known History' factor, imho.

My parents bought a new car that was a lemon, in and out of the shop pretty constantly in the first year they had it. That convinced me that buying new was no guarantee that you won't have problems -- no matter how much you spend, it still might break down. So I am a committed cheap used car buyer.

[democracyindanger]

25. But if it's a new lemon

you're protected by consumer laws and covered under a warranty. Virtually all used cars (except those 'preowned' ones sold through special dealer programs) are sold 'as is.' A lemon's a lemon, but a new one means that while you may have hassles, you won't have to pay for them. I'm not advocating one over the other--depends on the car and the buyer's situation. But having a warranty and knowing that except for the first 5 or 10 miles the car's been driven by me provides a level of comfort that a used car can't.

And upthread, somebody recommended rental cars. That's the LAST kind of used car I'd buy. Rentals get THRASHED.

[Feanorcurufinwe]

27. True, the whole year my parents car was in and out of the shop was free.

Except for the hassle and inconvenience.

[DS1]

12. It's all about that golden 'first fart'.

trust me.

[gpandas]

18. i worked in an auto plant and we always tried...

to direct good farts at the interior

[the Kelly Gang]

19. buy a new SUV..it's your duty to consume oil..

[mitchum]

20. Buying a new car is the absolute worst investment anyone can make

Depreciation as you drive it off the lot = major purchase with built-in negative equity.

I recently heard a marketing "expert" say that the whole metrosexual trend was a triumph for marketing in that men were finally being conditioned into feminised consumerism. He went on to explain that meant that men were being, at last, duped into to paying for non-essentials. What a sexist pig. Men have always had a Pavlovian response to "the new car"

[pagerbear]

28. Few people buy cars are investments

People buy cars to serve a number of purposes, the most important of which are:

1. reliable transportation


2. personal statement

The actual order of priority of those two factors varies from person to person. Resale value is often a deciding factor, but not for everyone. I think car-buying decisions are very often like love--passion often wins out over reason.

[TheWizardOfMudd]

21. New cars are a ripoff!

To anybody considering it, save yourself about $10,000 (plus interest) and buy a nice, two year old car.

[harper]

22. I only buy new cars

I buy economical new cars with good gas mileage that I plan on driving at least 8-10 years. I don't want to mess with cars that have been previously wrecked, cars that have been in floods or cars that have a long history of problems. I don't trust used car dealers or individuals selling cars to tell me the truth about a used car's previous history.

My dad only buys used program cars...I have had much better luck over the years buying new and properly maintaining my cars that he has had with his used cars. But I think my plan only works if you plan on driving the car for years. Otherwise you take a bath on the depreciation.

Oh, by the way, I pay cash so interest isn't an issue.

[St. Jarvitude]

23. Nobody's made sweet, sweet love in the backseat or the trunk

Well, at least, the chance is decreased considerably. :evilgrin:

[daa]

26. Dings and debt- the American way nt

[Frederic Bastiat]

29. I lease a new car every 4 years

Always had substantial savings. At 1.5% the interest payments are negligible and given that cars are depreciable assets why would anyone want to but one?

The money that I save from my lease payments goes toward paying off the mortgage on the house (a long-term investment)