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

[Artos]

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Horrible use of money...I drove older but reliable trucks & SUV's needed for all the hunting, shooting & fishing I do for the first half of my life being responsible, got my mortgage paid off & became debt free. So, after getting a company truck I can use for personal & having always being an enthusiast of performance vehicles in general I went out & purchased my mid-life crises rocket. Sometimes you just gotta say to hell with it & do something foolish. Didn't make my financial advisor very happy & admit I do have some buyers remorse from time to time when I look her just sitting in the garage, but man does that go away everytime I get to jump in, which is only once a week if I'm lucky. After all, who doesn't really need a 650HP that can reach 200mph?? Next on the bucket list is COTA, getting an instructor & romp on this for gal what she was made for.

[Evel Baldgui]

Leasing a vehicle for me is not realistic, drive about 20-25k mi/year. A dealer demo Mercedes/Lexus works out quite well. Almost new (avg miles +/- 5k) outright purchase, no monthly payment and just replace every 4 years or so.

[ramairthree]

It is an absolutely fantastic idea.

Debut of the new Challenger? New 5.0 Mustangs? Return of the Land Rover Defender, diesel JEEPS, or introduction of a mid engine Corvette?

Do it.

Just don’t try to justify it financially.
Just go with it’s a fantastic idea.

[sundance435]

I've owned new and used. Last 2 trucks were bought new, one prior to those was certified used, and numerous used cars before that. As others have said, a lot of it depends on what you're buying. Toyotas in general hold value well (exceptions being Lexus, Tundra, and Avalon), some models more than others (4Runner, Tacoma) and so do most trucks (except Japanese). Good luck finding a Tahoe/Yukon for an appreciable difference between new and used (with low miles). As for lease vs. buy, it really depends on how much you drive. I usually put on 15,000 in a year, so leasing has never made sense for me. I've always received really good trade in value for my (American) trucks, but I'm trading them in well before 100,000, too.

Another important consideration for me is my local, small-town dealer. They treat me well and I like to stay loyal to them.

[AndyLate]

The vehicles I drive have always been purchased used. We generally keep vehicles 6+ years, but I hate the idea of the huge depreciation hit.

We bought my wife's last car new because she has never had a new car.

Andy

Well, crap. I was looking for a used late model 4x4 truck when I found out a new 2018 Silverado K1500 LT Z71 is $14k off MSRP. Pacific Blue, sitting in the driveway now.

Andy

[223to45]

Most banks balk at financing over $10k.

Sounds like you need a new bank.

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[duece71]

Considering the depreciation of a new car coming off the lot, cringe worthy aside, I would buy used. A great deal to be had could be worth buying used. The only vehicle I would by new would be something high performance, a corvette, a cobra mustang, Porsche, etc... as I wouldn’t know how the previous owner treated it. Buying with cash also makes financial sense as well.

[Esq.]

Sure. If you can afford it. By "afford it" I don't mean 8 years of $600 a month payments. I mean CASH. If you have enough cash to buy whatever vehicle you want- buy what you want and don't worry about it.

[Ron3]

Sure. If you can afford it. By "afford it" I don't mean 8 years of $600 a month payments. I mean CASH. If you have enough cash to buy whatever vehicle you want- buy what you want and don't worry about it.

Unless I find exactly what I want used I'd be financing about 20% of the cost. Would pay that off in less than 2 yrs.

For me it's more about saving / investing (more) money to retire early or buy a depreciating fun thing like a car I'll enjoy driving more.

[Arik]

Unless I find exactly what I want used I'd be financing about 20% of the cost. Would pay that off in less than 2 yrs.

For me it's more about saving / investing (more) money to retire early or buy a depreciating fun thing like a car I'll enjoy driving more.

Only you know your financial situation. If it were me I'd save that money vs a fun car. But, I've been around so many cars in my life that at this point it's just another 4 wheels