Should You Buy a New or Used Car 12 Things To Check Before Buying 5 months 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 2144 Comments

BRBallin1
Short answer: It all depends on how much money you are saving. With Toyotas and Hondas, you save a couple thousand but you lose a lot of perks of buying new like warranty
runneryg
Makes sense.
Brian Patton
I buy at 200k miles and sell at 205k miles to the scrap yard jk
Patrick Melson
But what are the repair cost. Or true cost to own?
Gas Man
People who own new cars are loving the financed life. People who drive new cars are typically people that I do not want to associate with.. they have no life skills, usually very needy, and they know nothing about life. Sure they make you think they're well off..
Teck Hoh Ng
Good presentation. This applies to those who cannot afford to change cars every 5 years.
Sandlin22
You should buy what you want based on your income. I've bought two used cars and one new car. I regret none of the three purchases. In the long run it's irrelevant just don't be an idiot about it.
Brandue
Man, this guy was born to be a car salesman..
Haider Hayat
Good
Geography in Action
Used cars are great, no argument. There is an aspect that is left out here though. Let's say that you're comparing a new Honda Civic or Toyota Corolla with excellent rates at the dealership, say 0.9-3.9% interest, and you are looking at a 1-2 year old model that is cheaper, but not significantly cheaper due to the high resale value. Once you add on the fact that you are paying at a much higher interest rate, as the dealerships do not provide financing on the used vehicles through the manufacturer, you now are paying a monthly payment very close to the new payment. This does not apply to all cars, it and certainly changes based on make, model and year, but the point is that finance charges should also be looked at.
Gijs gijs
It all doesn't make sence. First of all: repair costs are never (!) becoming as high as a brand new car; thus having an old car is always cheaper than a newer one. It is, in general, the inconvenience of repairs that make a car goto scrap. Second: after 10 years and 120.000 miles (roughly 200.000 km), the car is far from scrap. It depends on the car brand of coarse, but most current cars last at least to 200.000 miles (300.000 - 350.000 km) and at least 15 years. Thus moving the sweet spot. You should ADD the 'depreciation curve' to the 'repair curve' to find the sweet spot. If done correctly it is much more in order of 4 to 12 years... Obviously also depending on your mileage per year and the inconvenience you encounter of the repairs.
Josh From Jersey
3 years old 30 k miles is the ultimate sweet spot.
George Goff
I thought this was common knowledge.
Richard Pepper
It is true that repair costs do go up as the car ages, but it depends on you and your desire to fix your car or not. For instance, if the A/C does not work in your car, but you live in Alaska, it does not make much sense to fix it. It might need a new paint job, but that isn't going to make your car run better. If your power windows don't go up or down from the passenger door, but they do from the driver's door, then some people will not fix it since it can still be managed. Shocks can need replaced based on mileage, but some people will just let it go and let it go until it absolutely needs replaced; the same goes with spark plugs and wires. It all depends on your desire, unless the repair has to do with a breakdown such as a bad alternator, or perhaps a timing belt that caused you to break down. But then again, some people prefer a car that is reliable for long road trips. Yet others will just keep their clunker and rent a car for these vacations.
rzl dzl
Graph not to scale
banderastube
But if you own a toyota, there s no need of repairment even after 8 years :)))
heartms98
thats wrong for new cars . because they have 5 / or 3 years warranty .so u dont pay any thing , only regular repairs
Mahdi N.
Is that applicable for buying computers? I need one
Nic Parker
In a perfect work that is a great chart. Most people will do 20,000 miles in a year not 12, and in 2 years will have 40,000 miles not the 24 you invision. The sales price is high with a lot of miles.. So the first 2 years of the car was driven hard into the ground... The repair bills will be much greater~ And it is used with cum stains in the seats.. I have drove a new car now 10 years and no repair bills only owner, need some tie rods, 100 bucks I will do it myself,, That is pretty much it. So repairs cart should be flat, then spike after 10 years very sharp. You make it all smooth. FAKE! All this aside the oil is going to run out in 10 years making your car worthless so when you buy NOW....Realize the oil will be gone by the time it is old...making it worthless...Maybe think about an ALT car at this point.. Sad to say it but yes ,,,,100K for a tesla .. Batteries will last you 5 years, then 40K in more batteries,,,
Umar Shareef
I saw the thumbnail and thought it was Shawn Michaels from WWE
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12 Things To Check Before Buying Should You Buy a New or Used Car 5 months ago   05:56

Filthy Rich shows you how to make the right choice when buying a used vehicle. With these 12 things on your checklist, your mechanic will be impressed.

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