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"New cars are a rip-off"
New cars are such a ripoff
- Thread starter winb83
- Start date
Get a low mile 3 year old car and you pay like 30% less. Even if you got a year old one you'd likely save 10-15% minimum. With CPO you can even get manufacturer extended warranty with it for upwards of 6-7 years from the original purchase date.
The first 2-3 years of new car ownership are a terrible value no matter how you look at it. You pay a huge markup to own the car for those years and in terms of value you get almost nothing tangible in return.
If you walked in and wrote a check for the entire car's cost and drove away then you got it like that but if you financed that car you paid interest to own it during the worst return of value in the car's life. You paid interest on the almost 10% that vanished when you drove it away. Even if you didn't and got 0% you still ate that cost.
1. It seems like most of the people in here who are supporting not buying a new car, already bought a new car and paid it off . It’s easy to say that shyt NOW.
2. Everybody ain’t a fukking mechanic. Everybody don’t got time to learn it either. So people will buy a used car for the low and have to deal with the inevitability of having to fork over hundreds or thousands of dollars for out of warranty work.
3. It really comes down to your income level. If you can afford to buy or lease, a new car brings a piece of mind.
. It’s easy to say that shyt NOW.2. Everybody ain’t a fukking mechanic. Everybody don’t got time to learn it either. So people will buy a used car for the low and have to deal with the inevitability of having to fork over hundreds or thousands of dollars for out of warranty work.
3. It really comes down to your income level. If you can afford to buy or lease, a new car brings a piece of mind.
I only buy new now. I don't got time to let my cars sit in the shop. But it's not for everyone. If you got it spend it. 
Some people are willing to pay because they want a car that only they have had. Also a car is more of a tool or luxury item for many.
Not really investment.
I'm actually gonna humor this. What's cheaper, buying a new car driving it off the lot and instantly losing 10% of what you paid or buying a used car that's under warranty and on the test drive taking it to a trusted mechanic and paying them a small fee of less than a few hundred bucks to have them look it over and give you a run down of it? Let's skip the warranty and say you bought a 2 year old car at a 20% discount. If there was some issue on the car that got missed do you think it would cost you half that 20% you saved to get it fixed? What car repair that a mechanic couldn't diagnose in a $150 inspection would cost you $6000 to fix on a $30000 car? Hell you could take the $6000 you saved on the new car and get another used car. If your shyt broke down you'd have a spare.1. It seems like most of the people in here who are supporting not buying a new car, already bought a new car and paid it off
2. Everybody ain’t a fukking mechanic. Everybody don’t got time to learn it either. So people will buy a used car for the low and have to deal with the inevitability of having to fork over hundreds or thousands of dollars for out of warranty work.
3. It really comes down to your income level. If you can afford to buy or lease, a new car brings a piece of mind.
Piece of mind? People buy lemons all the time. If the car is 1-3 years old and was a lemon the original owner would have had to deal with that. You can get the Carfax on a car and literally see it's service records.
Stop trying to convince people to think like you do. Waste of breath.
New cars get sold every day, b
Is it cheaper to lose that 10% instantly on the new purchase or get a used car that a mechanic inspected and vouched for a few hundred on the inspection? What's more money a few hundred or less for an inspection or thousands in depreciation on a new purchase?
I get that people are irrational about cars but that's not "how I think" that's just me presenting facts. I do dumb stuff with my money all the time. I also acknowledge that what I'm doing is pretty stupid. When it comes to cars people often stand behind their own ignorance and use it to justify their stupid decisions.
You can go on YouTube right now and search Dave Ramsey Car and see hundreds of videos of people making dumb decisions about cars that eventually catch up to them. Usually the excuse is "I deserve" or "need something reliable" or "dream car" but it almost always involves financing something they couldn't have bought cash. Car dealers and banks will give you enough rope to hang yourself then watch you do it.
Okay but you're not changing anyone's mind lol
I agree. I'd never buy a new car myself and don't care to...my two cars were CPO/used....but you're literally typing paragraphs that mean nothing lol
This is the same website...that.....just yesterday told me that no one in the world needs an emergency fund
Depends largely on the kind of car you want...if you are in the market for a Benz. BMW, Range Rover, etc, it's best to buy it new or at least Certified Pre-Owned with a full warranty. Repairs on those whips are outrageous.
Many people lease those because they aren't worth owning once they need repairs. The depreciation on a car like that is insane. A BMW can lose 60% of it's value in 5 years. A new Honda can lose like 38% value in 5 years. On top of that it cost less anyway.
Man...I’m mad that I missed this thread.
You and I are in the same boat. Paid my truck off last summer. I love not having a car note. Years from now, the next vehicle we buy will be used and paid for in cash.
New vehicles are such horrible purchases, but it’s many people’s vice. Gotta have that new car and keep up with the Jones’.
My car is 15 years. Bought it used and I give zilch fukks.
Looking forward to getting my ebike really.
Ebike, you say?
djthegreat88
Superstar
Just depends on personal preference and income
Your probably always going to take an L purchasing a car. Whether its the depreciation of newer cars or the repair cost for older cars
Most people don’t want to drive around in a basic ass 10 year old Honda like alot of Coli brehs do
If they want to spend extra on a car note to get a car they like, why not?
But I’m not one of those people that’s going to make myself miserable micromanaging my finances. Live comfortable enough and know what you can afford
Your probably always going to take an L purchasing a car. Whether its the depreciation of newer cars or the repair cost for older cars
Most people don’t want to drive around in a basic ass 10 year old Honda like alot of Coli brehs do
If they want to spend extra on a car note to get a car they like, why not?
But I’m not one of those people that’s going to make myself miserable micromanaging my finances. Live comfortable enough and know what you can afford
Not really. Check out this F-150. The depreciation in just the first year is almost equal to year 2, 3, and 4 combined.
2020 Ford F-150: True Cost to Own | Edmunds
From an ownership standpoint what happened in that first year to justify that drastic loss of value? If you got that truck day 1 of year 2 what did you lose out on that was worth $6.4K? Are those first 12-15K miles really worth that in value? Like I said for that hit you can get another cheap used car.
The reality is new cars are by default overpriced and when you purchase them they shed that excess value quickly. Really in that first 5 years they get down to the core value of what a car is actually worth because the depreciation really slows after that.
I don't have any real studies but I'm willing to go out on a limb and say if they did a study of car mechanics and people that had deep knowledge of cars the majority of them probably aren't buying new cars and wouldn't really suggest people do it. The people that know the actual value of the item recognize them for what they are.
