New car or used car?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
User avatar
kalvano
Posts: 11720
Joined: Mon Sep 07, 2009 2:24 am

Re: New car or used car?

Postby kalvano » Mon Apr 26, 2010 11:30 pm

im_blue wrote:
mmmd wrote:it seems most people are on the "private seller, used" bandwagon.

why not certified pre-owned with a warranty? that's pretty big risk alleviation right there.

Used cars are a lot more reliable these days than they used to be, and you can easily find private-seller cars with full maintenance records. CPO cars have high dealer markups for those who are willing to pay more than they should for peace of mind.



Not really that high. The certification costs money, and some manufacturers allow new car finance on CPO cars.

They are a pretty good option, it just depends on what you get for your CPO money. Most of the best CPO programs are only on the higher-end luxury cars.

mmmd
Posts: 9
Joined: Mon Apr 26, 2010 3:11 pm

Re: New car or used car?

Postby mmmd » Tue Apr 27, 2010 8:35 am

it's more than just "peace of mind."

it's incredibly limited funds. it's almost a case of penny-wise/pound foolish.

is there anything to look out for with certifieds?

like, if you don't mind, what would your impression be of this car --LinkRemoved-- and the warranty. clearly a lot hinges on when the service date was, but assuming it's recent.

User avatar
MSachmorov
Posts: 43
Joined: Tue Jan 02, 2007 1:32 am

Re: New car or used car?

Postby MSachmorov » Wed Apr 28, 2010 8:20 pm

Don't lease a car (if you can afford it) and NEVER buy a used car. It's not worth the hassle and uncertainty. If you can afford it, get the new car. That way you won't have to worry about who did what to it and if the previous owner took good care of it. Also, if you buy it new you can get a good warranty from the dealer, just play your cards right.

Also, I think you could possibly get a better new car than a ford...I'd stay away from American if possible.

User avatar
acash09
Posts: 71
Joined: Tue Feb 02, 2010 4:46 pm

Re: New car or used car?

Postby acash09 » Wed Apr 28, 2010 8:30 pm

MSachmorov wrote:NEVER buy a used car


I don't agree. I bought a 2004 car this past November with 40k miles on it. Very reasonable price & reliable brand. I bought it from a private owner and got a Carfax report. Its even still under the original warranty which transferred from the original owner to me. There ARE good used cars out there.

User avatar
kalvano
Posts: 11720
Joined: Mon Sep 07, 2009 2:24 am

Re: New car or used car?

Postby kalvano » Wed Apr 28, 2010 9:03 pm

MSachmorov wrote:Don't lease a car (if you can afford it) and NEVER buy a used car. It's not worth the hassle and uncertainty. If you can afford it, get the new car. That way you won't have to worry about who did what to it and if the previous owner took good care of it. Also, if you buy it new you can get a good warranty from the dealer, just play your cards right.

Also, I think you could possibly get a better new car than a ford...I'd stay away from American if possible.



Just completely ignore this post. I'm too lazy to do the strike-out thing, but it's all balderdash and poppycock.




Return to “Financial Aid”

Who is online

Users browsing this forum: dala77 and 1 guest