Pros/Cons of buying new?
10-14-2005, 03:43 PM
#21
man if you have 10k down and dont mind a slightly used s2k... get a 03 or something with low milage for like 23k... finance only 13k.. that would be some nice payments.
and about the insurance.. i had a 2004 mazda 3s... i paid 180 month (im 20). when i got my s2k it went down to 165 or so a month.. go figure.
and about the insurance.. i had a 2004 mazda 3s... i paid 180 month (im 20). when i got my s2k it went down to 165 or so a month.. go figure.
10-14-2005, 03:46 PM
#22
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There are advantages and disadvantages to both. I agree that buying used makes more financial sense if that's all you are interested in. But cars are not good investments anyway and sometimes the benefits of buying new are overlooked.
As mentioned, there's nothing like the feeling of a brand new car, but some people really don't care about this. The other thing is that every time I have bought a used car I eventually find something incredibly stupid that a previous owner or crappy mechanic did to it. There is some peace of mind to having a fresh start with a car and knowing how it was treated from 7-10 miles on.
Also when I see how my general non-car enthusiast friends and colleagues take care of their cars, it really makes me cringe. You would hope that with an enthusiast market car like the S2000 you'd have a better chance of finding a well cared for car, but they get abused too.
So yeah, you get some benefits, but for a price. If you keep your cars for a long time, that higher depreciation at the beginning gets diluted when divided by a larger number of years so your per year cost is not that much higher. There is no one solution for everyone which is why the market dictates how much new and used cars cost.
Peter
As mentioned, there's nothing like the feeling of a brand new car, but some people really don't care about this. The other thing is that every time I have bought a used car I eventually find something incredibly stupid that a previous owner or crappy mechanic did to it. There is some peace of mind to having a fresh start with a car and knowing how it was treated from 7-10 miles on.
Also when I see how my general non-car enthusiast friends and colleagues take care of their cars, it really makes me cringe. You would hope that with an enthusiast market car like the S2000 you'd have a better chance of finding a well cared for car, but they get abused too.
So yeah, you get some benefits, but for a price. If you keep your cars for a long time, that higher depreciation at the beginning gets diluted when divided by a larger number of years so your per year cost is not that much higher. There is no one solution for everyone which is why the market dictates how much new and used cars cost.
Peter
10-16-2005, 05:58 AM
#23
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Unless you own a business and can deduct the payments, leasing a personal car is almost always less attractive (financially speaking) than buying. Mileage penalties, unreliable residual values and the fact that you don't own anything at the end make it a poor option. On the other hand, many people use leasing as a way to drive a car they could not outwardly afford.
Buying a nicely used example is the best bet. Someone else has gotten the upfront depreciation hit and you are left with a car that will give you many miles of enjoyment.
To each their own.
Buying a nicely used example is the best bet. Someone else has gotten the upfront depreciation hit and you are left with a car that will give you many miles of enjoyment.
To each their own.
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