Should You Buy a New or Used Car Comparing the cost of new and used cars 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 3234 Comments

William Kvist Poulsen
Repair-costs don't skyrocket exponentially - but this aside, nice graphs
Tim wealthy
such a used car saleman
scott chase
Always pay with cash
scott chase
Follow the dave Ramsey rule

Never own anything with Engines & tires that value adds up over 1/2 your gross income
Joe Katin
Thanks Jordan Peterson with long hair
Elon Musk
In other words, buy Tesla
Andrey Tymchuk
I get the idea, but the "repair cost for a new car" should start at exactly 0 and not MOVE UP till at least past half of the point between 2 and 4 year marks. Also for MOST of Toyotas or Hondas that repair cost is next to 0 over first 10 years. Also if you can negotiate half good you should get at least $3K of the sticker price . Also unless you are paying cash , a used car will have higher financing cost. And considering a fact that with all the recent floods in the USA there are so many "clean title" "clean carfax" flooders out there , I will just go to a couple of dealerships at the end of the year and see if I can get a great deal on a new Toyota..... Oh btw , this is exactly what I did. 😀
CreatingMind
I totally agree with this however...
Always check year end manufacturer rebates and dealership end of year inventory clean out incentives. Ive seen brand new Subarus off the lot go for the same price as a 2 year old sweet spot models with over 30,000 miles.
gomenaros
I loved you in karate kid as the villain rich guy
Dobby Maltese
Funny how this 4+ min video was summed up by the thumbnail
Douglas Williams
Meh, I usually just buy new and drive them 15+ years. I've never taken longer than 3 years to pay off an auto loan.
John Tan
My right ear enjoys this. My left ear said its lonely
xrmerkur
Many of us are passionate about our daily drivers. Sometimes the relationship gets long in the tooth and a trade up is necessary. However, for me I wish to one day own and maintain approximately 20 different automobiles built from the late 70’s all the way to the present.
DJ Soul
Never purchase or lease a new vehicle. Buy a used vehicle if it is only 10% under your budget.
Eduardo Beguelin Jara
What about interest new vs used and inssuarence
Revo X
Considering I bought a brand new car 4 years (and 1 month) ago and have 25,408 miles at the time of writing this, I think I'm fine.

$0 on repair and Maintenance and it's been kept up through a free plan I got up to 25k miles. Maybe later on it will become an issue.
agt155
I like the basic premise of the graph, but have a few concerns. Why are 'repair costs' exponentially related to age? I could see why likelihood of repair could be proportional, but not exponentially. In terms of 'cost of maintenance' surely replacement parts would be significantly cheaper for older cars anyhow. Large maintenance costs are usually more related to mileage than age. ie timing belt, clutch, brakes etc are no more likely to need doing on a car with 250 000 miles than a car with 100 000 miles.
Tj Cherry
I know it's you Shawn michaels
Samuel
Isn't the repair cost relative to how popular the car is ? It may cost you a lot of time but not a lot of money.
Your choice is a result of other people's choices
G Dubya
My 1999 Explorer is going on 160k. Runs like a dream.
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Comparing the cost of new and used cars Should You Buy a New or Used Car 1 day ago   07:03

Choosing between a new or used car may not be as simple as it seems. Find out what matters beyond simple sticker price. To learn more and to see more videos, go to http://go.bofa.com/jefh.