Should You Buy a New or Used Car Top 5 Cars That Last 300,000 1 day ago   04:19

YourCarAngel
https://carbuyingsupport.com Greg Macke - Your Car Angel explains the cost difference between buying a new or used car. The video Should I Buy a New Car gives you the answer to this question. The "Sweet Spot" is the time in a the life of the car that the repair cost as well as the depreciation are low. In other words it is the best time to buy and own a car.

Comments 3360 Comments

Benis :-DD
my right hurt feels like its in a vacuum
C M
I think the sweet spot is not a sweet spot for Toyota because 2 years old used cars are still too expensive compared to the new ones.
Chaz Spellman
Great information for stubborn and beginner buyers and totally agreed.

The only issue with the graph is that repair costs go up to the cost of a new car at 10 years. I know it’s not meant to be accurate and only an illustration. But if a car costs 30k and loses 15k in the first 5 years I can be pretty certain a ten year old car won’t cost more than 15k in repairs.

I personally shift that sweet spot to the 5-10 year range and lean heavily toward the 10 year side of things. That’s advice for others.

I own a 21 year old Toyota 4Runner and a 27 year old Toyota Pickup and my repair costs in the Pickup have been zero outside of regular maintenance and just some ball joints/steering rack etc over the years on the Runner.

So I’ve spent less than 10k in vehicles and less than that in repairs over many years.. and will continue to drive them until they die on me.

Then the thousands not lost is invested in Roth IRA and other funds for 7-12% returns of compounding interest..

I had three brand new vehicles that I could afford back to back, but soon realized paycheck to paycheck with a year of emergency fund is no way to invest in my future. Make wise choice, amigos :)
Mark Geller
Neglects to advise that you can buy 2 and 3 year old cars, with super low miles and... Certified, with 100,000 mile warranties that then cost you zero for repairs. Best buys are luxury 60-70,000 dollar cars at 3 years certified for 40 percent of new.
Wim Borgers
For Toyota's the sweet spot extends to 25 years
xblahblahblahblah
Of the about 25 cars I own in my life, I've always bought 2nd hands cars except once in very particular circumstances: I was not paying the "value added tax", +20% on my new VW, EOS new model in 2016. I sold it 3 years later with minimal depreciation, the car being a still recent model and a convertible which helped.
Great videos I learned a lot! Yes still learning 😀 Thanks
Mihail G
Nice thanks
pix pox
awesome information awesome video....
King Jack
I scrolled down from WWE video and this video showed up. I had no doubt this guys was Shawn Michaels.
Gene Kelly
Very sound reasoning--i would add that if you want the lowest cost/mile, buy a used , less complex car-stuff like air suspension, AWD, 10 speed transmission, and all the other fancy stuff will cause huge repair bills as the cat hits 8-10 years of age.I have known people who bought a older Audi, BMW, etc., and are shocked at repair estimates (people even remove the M-B air suspension and replace with springs.) A bad engine on a BMW is so expensive to fix, that many people either put in a junkyard engine or simple scrap the car.The real issue is vehicle electronics-after about 2008, you need an expensive scan tool to diagnose the car-and you must go to a well equipped shop or dealer-replacing parts and hoping won't work today.
natanel germosen
it also depends on your interest rate. depreciation vs interest rate. if my interest rate is 4.21% which is the national average currently on a used and my interest rate on a new car is 0% to 0.9 it would end up being the same in cost depending on the life of the loan i think 🤔 can someone clarify this?
Mark Villano
For me, the sweet spot changes more as the years advance, regardless of the mileage on the vehicle, because although cars are built much better today, the thing that affects repair costs more than anything as the vehicle ages is the deterioration of everything mechanical that is not made entirely of metal. This would include all rubber gaskets, bushings, wires, hoses, belts, seals, tires, etc. It is for this reason alone that I would be reluctant to purchase any used vehicle more than nine or ten years old, (depending upon the climate where the car spent most of it's time).
I agree that the used car is by far the better deal, but as far as I'm concerned, that window is between one and three years old.; especially if there is still some time and mileage left on the warranty, and that warranty is transferable.
framedheart
What about the investment cost? If you invest less in the car, you can have that money grow on the stock exhange
There is also the cost of time, time is money
14shal
Sean Michaels
bfortner100
One factor not discussed here is PAYMENTS. Until it is paid off, you owe for repairs AND payments. Sometimes, if the selling price is too low, it's better to keep it until it costs too much to repair, junk it, and start over with a newer one. The main factor is the resale price you can get, versus how long you think it will run. If you do pay it off, and it still runs, take everyone out for drinks, because you can drop the collision and comprehensive insurance, you don't make payments, and you don't pay interest on payments.
Martin Prickett
The sweet spot for me is not sitting where some previous jack leg owner has been farting away for the last few years.
You can't put a price on that ...don't buy used furniture for the same reason .
Mr. Black
This video fails to take into account the actual cost of buying a new/used car. Interest rates are lower for new cars so unless you're paying cash or have a huge down payment, you'll likely pay one to three percent more interest for the money you borrow. New cars are loaded with incentives that drive down the cost of new cars significantly. The first pickup truck I bought cost less than the same three year old model. What you get for trade on your vehicle if you keep it five years is also not fully addressed. A new vehicle traded at five years is five years old, and using his mileage projection, has 60,000 miles. The same used vehicle purchased at five years when traded is ten years old and has 120,000 miles. When these vehicles are trade after another five years,, the amount you get for each will be drastically different....meaning when you do trade you'll be borrowing more to buy another five year old vehicle. The video also doesn't address the fact that vehicle models depreciate and different rates with some models holding their value significantly better than other models. This video presumes that all vehicles depreciate the same. Finally, the video doesn't take into consideration why people buy a vehicle in the first place...safe reliable transportation, not an investment. A new vehicle purchased today is safer, gets better gas mileage and may have a lower insurance rate than the same five year old model (my new Subaru did). The actual cost of ownership for any vehicle is what you should focus on when buying a vehicle; and it includes much more than simply depreciation and repair costs.
Holirumics Friend
Good advice and you definitely should work the numbers however based on the purchase price of the car (or discounts), expected miles, and length of time a new might be better. I bought a new Ford and at the time the costs per expected mile because of discounts was less than the used car. I’ve now had that vehicle 14 years & 300k miles is still running strong.
Calvin Hikes
Buying a used car is only a good idea if you get a good deal. A lot of people go buy a used car with your chart in mind but they end up paying new car prices so they destroy their own advantage.
SCL75
Thanks for the video sir
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Top 5 Cars That Last 300,000 Should You Buy a New or Used Car 1 day ago   08:50

This video will show you the top 5 cars that last over 300,000 miles. Data is compiled based on cars currently for sale with more than 300,000 across the United States.

Have a car or truck with more than 300,000 miles? Send me some pics for a future video! carsthatlast@gmail.com

Looking for more cars? Check out some of my other videos below:
Top 5 Small Cars That Last 300000 Miles: https://up-tube.com/upvideo/UTMBLGrYZ2x

5 Car Brands Unlikely to Last 300000 Miles:
https://up-tube.com/upvideo/hzc2EOvrOdR

8 Cars from the 1980's That Last 300000 Miles
https://up-tube.com/upvideo/gGdxrho2ppj

Top 5 Cargo Vans That Last 300000 Miles
https://up-tube.com/upvideo/nZFzx8EtB5t

Top 5 Big Luxury Cars that Last 300000 Miles
https://up-tube.com/upvideo/HCdw71nydQp

Top 5 Trucks That Last 400000 Miles
https://up-tube.com/upvideo/UaFUixNuM2V

Top 5 Compact Trucks That Last 300000 Miles
https://up-tube.com/upvideo/H28LJ8cImH8

Top 5 Sport Utility Vehicles That Last 300000 Miles
https://up-tube.com/upvideo/iQcNXGboVnV


Thanks for watching!!!