Do you buy used or new cars?

I have paid cash for both of my cars in the last 5 years and do not wish to go back to payments. that is why I buy used. Do you buy your car used or new?

We have always purchased new autos because we drive so much, we get an extended warranty so we don't have worries. But given the economical outlook, I think we will be keeping our two autos for quite some time. Both are in great shape (knock on wood), so we are ok right now.

But paying cash is a very smart move for someone you can get some great deals on used cars.

We buy used cars. I just don't like the fact that the moment you bought a new car, it loses value - you can't sell it for the price you paid because they are overpriced. There is a better warranty sometimes, but still, it is hardly worth it.

The way I do it is:

Buy a nice car ( I usually get a type of BMW around 40-50 thousand ) make the payments each month, then after 3 years sell the car back to the dealer and get a new one. That's the way I've been doing it for years and it works perfectly!

WaffleStomp wrote:

The way I do it is:

Buy a nice car ( I usually get a type of BMW around 40-50 thousand ) make the payments each month, then after 3 years sell the car back to the dealer and get a new one. That's the way I've been doing it for years and it works perfectly!

That's a good strategy WaffleStomp! If you have only driven the car for 3 years it still has good value when you sell it back to the dealer or trade in. Of course, you need to try not to put too many miles on the car. Do you drive a lot?

I have only bought one car and it was new. I don't mind the payments but then again they aren't astronomical and I only have 1.5 years left on my payments! But the great thing is, my car is going to last a long time (it's a toyota corolla) and it's a car that I love...so hopefully i'll have it for many more years! But one thing I will never do is lease a car...I think it's pointless to basically "rent" a car.

The first car I ever bought was a new truck,made the payments on my own and everything. Then when my company got sold and moved to Texas,ever since i buy used. I don't want to take the chance with car payments anymore.

I always buy used. I am a great believer in not buying anything unless I have the money in the bank to pay for it. Also the depriciation on a new car is so immense. I would however like to be able to afford a brrand new car one day.

For me it depends on different factors. I will by a used car if the deal is good. I will also buy new if there is something I really want. So for me it will depend on many factors.

before, i try to buy used cars but then i can see a lot of problems occurring. so when i tried to buy a brand new SUV, i was lucky enough that i did not have too much problems. used cars are more complicated to handle.

I have been married for 21 years and my husband and I have always bought new cars until just a couple of years ago. He was in an accident and they didn't give us much for the car, so we ended up buying a used car. Luckily for us, it hasn't soaked up much of our money in repairs.
On the other hand, both of my boys bought used cars as their first vehicles. By the time they fixed everything with them, they both spent about another $2000 into them. I feel bad for them everytime another thing goes wrong with their cars!
I'd rather have the payment monthly and know my car is under warrenty then to have to worry about coming up with extra money for repairs.

Brandbla8 wrote:

I have paid cash for both of my cars in the last 5 years and do not wish to go back to payments. that is why I buy used. Do you buy your car used or new?

I´m sure that the best way to save some money is to buy the new cars. In that way you have the chance to save some money on the maintenance.