Buying New v. Buying Used

[Oldag]

Originally Posted by 2010Slowmaro

Buying a brand new car is a bad investment. You'll lose money everytime.

Depends upon how long you keep the car.

And whether or not you have to dump a bunch of money into the car early in its life because it was not cared for properly or driven very hard.

[POWERFREAK]

Not getting into the v6 vs v8 discussion, but a few other things think about...interest rates are higher on used car loans, and on a low mileage used car, you'll be closer to needing things like tires, brakes etc...I get the whole depreciation thing, but unless I know exactly where the car has been and if it's been taken care of, I'd rather just buy new.

[BluePhoenix]

Buying new is best.

[Verbolten]

You lose around 11% after you drive it off the lot. But there is nothing like the new car smell.

[Oldag]

If you keep the car five years, what have you lost?

[kevinw]

i buy my cars new, and am looking at new 2013 vert, and maybe ordering a 2014 coupe. i budget allows for LT and for daily commuter a 6 is fine. but, i am picky about my cars and i keep them a long time, so depreciation not an issue, by the time i sell my cars, i looking at 2500 bucks for it anyway. but, they are the worse investment no doubt.

[IowaGuy]

I like used. My 2011 1LT had 7000 miles in Jan 12 and was damn near perfect condition. The GM certified used gave me free oil changes and tire rotations for 2 years. The car cost me 21,000 and I had equity in it the minute I drove off the lot.

I just traded it in for 2012 2SS convertible with 10780 miles. A minor issue with the top that I'm getting resolved. Dealer have me 19000 for the trade in. So owning that camaro for a year and a half cost me 2000 dollars. The 2SS msrp was like 43000 new and cost me 31000. Not as great as the first deal but I prefer the trade weighted towards trade in value for tax reasons anyways.

Point is, used lets me drive cars I couldn't as easily afford new. And camaro owners tend to keep the cars looking nice. If you shop smart you won't have to worry about gaining equity or gap insurance. And I have yet to pay for oil for a camaro.

[IncrediblyX]

I bought my 12 vert used. I'm glad that I did. The car had about 9k miles on it and the car was a prior rental, so I expected it to have minor imperfections. The only thing that I noticed wrong with my vehicle after owning it for a few months is a tiny hole in the driver's seat due to cigarette burn. Now, it has been almost a year of ownership and with 21k miles, it is still in excellent condition, paid off and I'm very happy with it.

[kevinw]

does it make any of you wonder why a used car for 7000 or 10000 miles would already be for sale? i have seen some folks with 11 and 12 verts unload them before warranty is up due to top problems. and rentals are probbly driven hard, but the lower price makes up for it i guess. iowa guy, 31,000 for a 2ss vert with 10k miles seems really cheap for that car. if i order a new 14 1LT vert, invoice will be aboiut 33K

[IowaGuy]

Thanks! It's always nice to know I haven't been taken to the cleaners. Both cars came from the same dealer and my tactic is pretty basic. I noticed this dealer keeps cars on lot for a small amount of time. The price eventually ends up as an Internet special if it doesn't sell after a month and then a week latter is out of inventory. He negotiates on anything except these cars. Since the price is already fair I take em. The cars have been amazing so far. The 1LT had 27000 miles when I traded it in. I just checked the web page and noticed that his used inventory of camaros is about half of what it was last month. Who knows what's in a dealer or sellers mind. The best one can do is decide what they can afford, look around at new and used cars, and make a desicision. With GM it is important to to think about rebates, customer cash, website offer, and GM card top offs.

So figure 43k msrp at 41k.
1500 customer/dealer cash
2000 gm card top off, no crystal ball just a guess on year end
1000 website
41k - 4.5k = 36.5k
Add in any other oddball incentive and the new car is also attractive.

[FINALLYSATISFIED]

All I'm going to say is buying used sometimes is a better overall deal. Depending on the mileage, a CPO vehicle has a better warranty and incentives (Oil changes free for 2 years, etc). The key is the mileage. If your able I find a lower mileage vehicle the extra 12,000 miles added to if for bumper to bumper sweetens the deal.

[kevinw]

well the car i am looking at, 2013 2LT black vert, was built sept of 2012, so its a year old, but only has 58 miles. i asked the dealer about it, and he said sometimes that happens to sports cars. this is a non rs, but has the 19 inch wheels and nav too.
they have it at 34300 now, and i belive after 9/3 rebates will increase too. so, i can wait. but i am thinking 32, to 32500 maybe. invoice was at 36,200. there is another one like it, for about 1700 more , with rs package too.

[IowaGuy]

Was it ever titled? I would want a significant discount if it was. Most likely it wasnt with hat milage. Considering that you are in used 2012 2SS territory at that price, I would chose carefully. You might not think you need ea v8 now but many of us thought the same. Its not that we didn't like the V6.

It's that we liked the car so much we wanted more of it.

The v6 is a hell of a machine though. And it can take a turbo down the road.

[IowaGuy]

Actually after thinking about this, you might be on the right track. Year end stuff might be good on new but outgoing 2013s. Especially if you got a GM card you use a lot until then and get a "top off" on it plus website bonus cash.