PDA

View Full Version : Would you buy a new car or a second-hand car?


Veritas
Sep 20th, 2008, 03:28 AM
I'll be getting a car, at the latest, by the end of this year. I've done a bit of research on what options I can take, but I'm still unsure on some details.

For anyone here who's gone through the process, would you go through having to pay back a loan for buying a new car? Or would you rather save on paying the interest and just go for a second-hand car? I have enough to buy a second-hand car, but if I decide to buy a new car I'd have to make a deposit and finance the rest of the amount through a loan.

I'd prefer a second-hand car because I don't like the thought of paying back more than what the car's worth. But at the same time it's really hard to gauge whether a second-hand car is appropriate or not. For example, I recently got a mobile inspector from an insurance company to do a full check on a car I was interested in. It turned out that there were some minor - but costly as in $$$ - defects I had to account for if I decide to go ahead and buy the car. Plus, there are a lot of mechanical aspects that I'm not familiar with. Buying a new car would take a lot of that hassle away because many things about the car is guaranteed and covered by law.

I'm really stuck here. Do you have any suggestions?

Thanks :)

Pasta-Na
Sep 20th, 2008, 04:47 AM
used car, bc i always think im gonna to have a car accident :p

@Sweet Cleopatra
Sep 20th, 2008, 05:16 AM
buy new car , my mother bought used one and it was very bad experience , or at least buy used car from someone you trust and bring with you someone who will not be deceived ...

griffin
Sep 20th, 2008, 01:40 PM
Depends on you, really, and what you have to spend, and whether or not you want to deal with a loan.

I just bought a used CRV last year - I had about 10K to spend, and didn't want to have to get a loan. For that money (and needing something big enough for dogs and camping gear), there was no way to get a decent new car, so I went with used. I had my mechanic check it out first (he's saved me from buying several lemons), and got a carfax* report to make sure it hadn't been in any serious accidents, etc. If you do your homework, you can get a really great used car for a lot less money than you would have to pay for new. And at least in the US, even the insurance costs less.

But shiny and new, is cool, too :)

*carfax is a service that checks a car's vehicle id number (VIN) against accident and stolen vehicle reports. It can also turn up irregularities in mileage reports, which can tell you if someone's rolled back the odometer. Don't know if it operates where you are, but I'm sure you could find a similar service.

Kart
Sep 20th, 2008, 01:44 PM
Get a second hand car. Most reputable places do a decent check and offer some kind of guarantee of quality anyway.

When you're rich, you can trade it in for something sharper :cool:.

Just Do It
Sep 20th, 2008, 01:48 PM
New car always. I bought 3 y. old Ford Focus from US and I had and still have so many problems with it. I even thing it was crushed. I am selling it now, anyone interested ? :devil:

mandy7
Sep 20th, 2008, 03:58 PM
got a used car, and it's a great running car, never had any trouble with it
it's a 1998 peugeot, they're just really reliable

mandy7
Sep 20th, 2008, 03:59 PM
New car always. I bought 3 y. old Ford Focus from US and I had and still have so many problems with it. I even thing it was crushed. I am selling it now, anyone interested ? :devil:
why did you get a car from the us? aren't you serbian?

Just Do It
Sep 20th, 2008, 04:03 PM
why did you get a car from the us? aren't you serbian?

Yes I am, but what does it have to do with me buying a car from US ?

A_S
Sep 20th, 2008, 11:56 PM
the depreciation on new cars is phonominal so you can get something next to new for half the price, if that when buying second hand... I mean something really good spec, low mileage/KM. Especially at the moment, because of the "credit crunch" for want of a better word the second hand car market is quite depressed. Buying at auction is a good idea too because you get a better deal and the cars usually don't come from private sellers but company fleets and and franchise companies meaning that they are well serviced and in decent condition.

For example, actually, on thursday, my dad bought himself a car. We have previously had an X-type Jag (03 plate) from new which cost £20k plus, but by buying at auction my dad got a better spec 05 (november) model with only 19,000 miles on the clock (thats less than 125 miles a week) for £7995. Thats basically a next to new car for a 3rd of the price. Bargin. (plus its gorgious). I myself drive an 01 plate Fiesta which we bought at auction.

I will say though. you do have to put in the effort. Its not like shopping at a supermarket. As with anything you get out what you put in, so there is no substitute for studying the market and biding your time. If you impulse purchase or rush it, you wont get a good deal financially (but probably will get one mechanically)

Andy.
Sep 21st, 2008, 07:15 AM
I have done the second car thing and it was nothing but trouble. I love my new car and I think its the best way to go if you have the funds.

mandy7
Sep 21st, 2008, 07:22 AM
Yes I am, but what does it have to do with me buying a car from US ?
oh you just mean you bought an american ford focus then?
you made it sound like you bought it in the us or something
just sounded weird
and i was thinking: okay, why couldn' he find a suitable car in his own country..

and how is it different from the german fords?

Just Do It
Sep 21st, 2008, 09:37 AM
oh you just mean you bought an american ford focus then?
you made it sound like you bought it in the us or something
just sounded weird
and i was thinking: okay, why couldn' he find a suitable car in his own country..

and how is it different from the german fords?

My father bought them in the States, and sent them to me via overocean cargo ship. New York - London - Belgrade :lol:

American model is in miles, radio is american ( it is catching only uneven radio stations, which I hate :weirdo: ) and in terms of looks it has prominent bumpers/fenders. Also original tires were different, and many other smaller accessories are better. All in all American version is safer and better.

Veritas
Sep 21st, 2008, 12:31 PM
Depends on you, really, and what you have to spend, and whether or not you want to deal with a loan.

I just bought a used CRV last year - I had about 10K to spend, and didn't want to have to get a loan. For that money (and needing something big enough for dogs and camping gear), there was no way to get a decent new car, so I went with used. I had my mechanic check it out first (he's saved me from buying several lemons), and got a carfax* report to make sure it hadn't been in any serious accidents, etc. If you do your homework, you can get a really great used car for a lot less money than you would have to pay for new. And at least in the US, even the insurance costs less.

But shiny and new, is cool, too :)

*carfax is a service that checks a car's vehicle id number (VIN) against accident and stolen vehicle reports. It can also turn up irregularities in mileage reports, which can tell you if someone's rolled back the odometer. Don't know if it operates where you are, but I'm sure you could find a similar service.

Hi griffin, thanks for the tip!

I've taken into account a car's security background, and yes there are similar services where I am that can do a check up - for a nominal fee. There's an organisation here called "Vic Roads" and it's very similar to that carfax one you just mentioned. What I did was call them up, gave them the car's details and they'll check whether the car's got any finances owing on it, if it's been in a major accident, etc. The only thing is that for a private seller, Vic Roads can only get a "verbal indication" whether the car's been fully paid off or not - apparently it's to do with a privacy law which doesn't oblige finance companies to disclose their customers' details. And that means it's not enough to cover me legally if I buy a car that happens to have some $$$ on it. If I go ahead with a private buy and want the security background covered, I was told to secure a Vehicle Security certificate which would cover me legally but I can only get one 24hrs before I buy the car. And then there's all these bits and pieces which I don't want to go in too much detail.

I'm heading off to a Toyota dealer on Thursday though. Apparently it's got a fair few "demo models" on sale and a lot of them have drive-away prices that are cheaper than their RRP :eek: Plus they've got all the security, warranty, low kms, etc. that you'd expect from a reputable dealer :cool: Wish me luck!

Veritas
Sep 21st, 2008, 12:36 PM
Get a second hand car. Most reputable places do a decent check and offer some kind of guarantee of quality anyway.

When you're rich, you can trade it in for something sharper :cool:.

Yeah for second-hand cars I'm done with looking at private sellers. They might ask for a more affordable price tag but it's mind-boggling how much work has to go in to checking whether their cars are worth the price or not. Dealers are much easier, but it's harder to haggle and they ALWAYS charge a premium on their cars - second-hand or not :(

And I don't know about "rich". What I do know is that I'll never own a spanking new Beemer or a Merc :cool:

Veritas
Sep 21st, 2008, 12:42 PM
the depreciation on new cars is phonominal so you can get something next to new for half the price, if that when buying second hand... I mean something really good spec, low mileage/KM. Especially at the moment, because of the "credit crunch" for want of a better word the second hand car market is quite depressed. Buying at auction is a good idea too because you get a better deal and the cars usually don't come from private sellers but company fleets and and franchise companies meaning that they are well serviced and in decent condition.

For example, actually, on thursday, my dad bought himself a car. We have previously had an X-type Jag (03 plate) from new which cost £20k plus, but by buying at auction my dad got a better spec 05 (november) model with only 19,000 miles on the clock (thats less than 125 miles a week) for £7995. Thats basically a next to new car for a 3rd of the price. Bargin. (plus its gorgious). I myself drive an 01 plate Fiesta which we bought at auction.

I will say though. you do have to put in the effort. Its not like shopping at a supermarket. As with anything you get out what you put in, so there is no substitute for studying the market and biding your time. If you impulse purchase or rush it, you wont get a good deal financially (but probably will get one mechanically)

I've heard about these auctions ;) The only thing is, like you said, it requires plenty of research and know-how to work them effectively. I know next to nothing about cars - except how to drive them - and I'm even more blank on their financial details.

From the sounds of it you seem to have a lot of experience at auctions. What tips would you give for someone who's never been to one?

A_S
Sep 21st, 2008, 01:20 PM
I've heard about these auctions ;) The only thing is, like you said, it requires plenty of research and know-how to work them effectively. I know next to nothing about cars - except how to drive them - and I'm even more blank on their financial details.

From the sounds of it you seem to have a lot of experience at auctions. What tips would you give for someone who's never been to one?

as i said, have a look around set your limit in terms of what you want to spend, see whats avalable on the websites for a few weeks to get a good idea of whats on the market (and maybe adjust the spending limits) and then wait until what you want comes up. Go (if need be take someone who knows stuff mechanically) and have a look then if you like what you see bid to your limit but no more. If you dont get it there will be another one along soon enough. Again, its all about doing the research, as with anything, not just cars. Google about auctions and read up as much as you can. There is no substitute for preperation

mandy7
Sep 21st, 2008, 04:17 PM
My father bought them in the States, and sent them to me via overocean cargo ship. New York - London - Belgrade :lol:

American model is in miles, radio is american ( it is catching only uneven radio stations, which I hate :weirdo: ) and in terms of looks it has prominent bumpers/fenders. Also original tires were different, and many other smaller accessories are better. All in all American version is safer and better.
well, a few years ago, my neighbour had a focus and he always parked in front of our house, while there was plenty of room in front of his own, so that was jst annoying, cause he wouls like ran outside as soon as he saw me or my dad leave, and park his car wherever we were standing
dude had issues :lol:
and i hate focusses ever since :p
don't like the look of them and am affraid a few different bumpers won't help that :p
but hey, i don't think many girls like em
it's a guy's car i reckon
and if you like it, that's all that matters :yeah:

edit:
way to go dad for using a cargo ship though
that's always the best way to go :D
(my parents own one and work on it :p)

partbrit
Sep 21st, 2008, 07:09 PM
My advice--this has worked well for me and many people I know in the U.S.--is to buy a rental car from Enterprise. Enterprise does not sell cars; rather, it brokers them. If they don't have anything you like, they'll call you when what you want comes in. The cars are maintained to perfection on a daily basis, don't have many miles on them, and the price is dramatically different from what it would be if you bought the car new.

If you have a rental company where you live who brokers their cars, take advantage of it.