Is it EVER a good idea to buy a new vehicle?

[SteyrAUG]

Only if you are very, very wealthy and are buying it through your business as a deductible business expense.

[Hmac]

Only if you are very, very wealthy and are buying it through your business as a deductible business expense.

IRS rules for that are very arcane and not at all practical except in some rare circumstances.

[_Stormin_]

We have a few vehicles...different purposes and seasons. Fun, work/hauling, transportation. We always buy new, keep them about 45,000 miles and buy new again. It doesn't make financial sense...it's an indulgence.

Me for years. I had a run of a decade where a new car was my annual treat. That said, I now live in a tax environment that discourages owning high end cars, and as such, I have had my current ride for six years. I will still buy new as I prefer to be able to know exactly what every minute of my vehicles lifecycle has been.

[BoringGuy45]

If you're going to do brand new, I think leasing is a better option that outright buying. If you're going to buy, certified pre-owned is often the best choice for all the reasons listed here.

[markm]

Toyota Landcruiser and 4Runner, and Jeep 4door wranglers seem to hold their value to the point where used isnt’t Much of a discount especially when you consider how they could have been treated.

Exactly. Toyata Tacomas are the same way. You don't save much until you get into the really older trucks.

[Hmac]

Me for years. I had a run of a decade where a new car was my annual treat. That said, I now live in a tax environment that discourages owning high end cars, and as such, I have had my current ride for six years. I will still buy new as I prefer to be able to know exactly what every minute of my vehicles lifecycle has been.

Yeah, I bought a GMC 2500HD about 4 years ago. That truck only gets about 5000-6000 miles/year and tends to be pretty durable so we'll likely keep it for awhile. And I leased a Z-car about 5 years ago, then bought it out at the end of the lease. That car only gets about 5000 miles/year too and is holding up pretty well, although it only has about 25,000 miles. OTOH, my wife just picked a new Murano Platinum when the previous one hit 45,000 miles.

I agree with leasing. Well-suited to someone who wants a new car every 3 years or so and views a monthly car payment as a perpetual part of their life. I do it both ways, depending on the vehicle and its use. Vehicle leasing gives my financial guy the cold sweats.



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[223to45]

Depends on what you are buying.

When we special ordered a 16 Tacoma for my wife.
It was cheaper the buying used.



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[Firefly]

Can you really put a price on new car smell?

Can you really?

[ABNAK]

I don't work on vehicles. I don't want what someone else beat to hell. I don't like unhappy, expensive surprises.

My wife and I buy new. We both work at the same place, albeit different shifts. It's about a 50 minute one-way trip (75 miles round-trip). She works 3 days per week, I work 5. We put beaucoup miles on vehicles. I have a GMC Sierra, she has a Dodge Caravan. We jointly have a Nissan Versa that is our "work car" (obviously with our schedules the truck and minivan get used a little each week). The Nissan gets about 25K miles per year, the other two maybe 12K or 13K. Once that Versa is paid off we will roll it into another new "work car". Of course it'll have probably 75K on it by that time but oh well.

Learned my lesson about buying used. I always heard "Buy a Honda Civic, they run until the wheels fall off". About 6 or 7 years ago we bought one used for $7,000. Paid for it with a cashier's check from our savings account. It had 110K miles on it. Drove it for a while and the temp gauge kept going up to the red zone. I was like "WTF?". Took it to a shop and found out that apparently Honda Civics had been known to have cracked heads, which was the problem with this one. Was going to cost $1800-1900 to fix a $7,000 car. I said "F**k that" and traded it in to a dealership for a Chevy Spark.

I will NEVER buy someone else's problem (read: USED vehicle) again in my life.

[Arik]

A lot depends on the car and your expectations of ownership. If you're not the type to swap cars often and drive them for decades then buying new is a good idea. If you like a new car every so often then not so much.

Some cars used are barely cheaper than new but without some of the benefits. For example, I want to buy my mom a Subaru Crosstrek but a lightly used off lease one is only about $3k cheaper than a brand new one yet has mileage and not all of it's factory warranty. For the extra $3k I'd rather her driver a brand new car with a brand new warranty.

Otherwise I personally buy used. Sometimes well used. My first and only new car was a two year lease in 2005. When the lease was over in 2007 I bought a 6 year old car and drove it to 2014 when I sold it and bought a 4 year old car which I still have but plan to sell. Late summer of 18 I bought a 11 year old used SUV.