Used car market is flooded supposedly - and that is driving down used car prices and forcing the deals on new cars.

 

Son got a VW GTI Autobahn through CarMax. They pushed their financing but he did a CU loan at only 2.5%. He had them transfer it from NC after finding online. Cost $200 for that.

 

I decided to keep the leased Cruz he was driving and even though it had a buy out that was at book value and pretty good, Ally (GM leasing bank) offered $1,500 to buy it out. Basically - they did not want it, even though it was 10,000 miles under its agreement miles. So that is a good indicator of the used market.

I've been casually searching for about 6 months now. I've spent a lot of time on CarGurus.com recently and other sites/apps to compare and price cars. There is a ton of information available online now.

A new car loses 20% of its value the moment you drive it off the lot.

If you buy a used car, you are buying someone else's problem.

 

I hate the whole process. I know Jr. is about to be in the market for a new car. He drives a bit for work. It should be interesting to see what he ends up with. We have been discussing lots of different options.

Financing won't be an issue if I go the new car route but I was wondering if anyone had issues with the fine print (ex: 0% financing when paying MSRP only, etc.). I'm afraid they'll lure me in with the financing and then change the game once I'm 1/2 committed. I agree with you, @TAC, I'm kind of tired of crossing my fingers with a used car, hoping I didn't inherit a problem. Decisions, decisions.

The last truck I bought I got 0% and free oil changes at the dealership for 100k miles. Pretty happy with that

I'm leaning towards buying a certified used car -- it seems like that would eliminate the concern of buying somebody else's problem, no?

I'm leaning towards buying a certified used car -- it seems like that would eliminate the concern of buying somebody else's problem, no?

 

Not really, all that means is someone looked it over.

I'm leaning towards buying a certified used car -- it seems like that would eliminate the concern of buying somebody else's problem, no?

 

Haven't bought a new car in over 20 years. Always buy used, no more than a couple years old, and low mileage. That way I've got warranty coverage for at least a couple years. I'd say I've only gotten one car that had any problems out of the 7 or so cars, and it was a transmission problem that was under warranty. And for what it's worth, we still have that car. Cars are so reliable these days, that I just don't think many used, low mileage cars are problems waiting to happen. I'm not sure I'd buy a higher mileage car, but I see no good reason not to buy a low mileage, couple year old car. There are so many good deals out there right now on used cars....I work with car dealerships, and most of my clients are flat in sales and have higher than normal inventories in used vehicles.

Not really, all that means is someone looked it over.

 

Certified does get you longer warranty coverage, IF you happen to have a problem. Although, As long as the car you are buying is only a year or two old with low miles, I'm not sure the premium you pay for a certified vehicle is worth it.

http://bluegrasspreps.com/advertising-fundraising-coaching/2012-mini-cooper-350140.html

I'm leaning towards buying a certified used car -- it seems like that would eliminate the concern of buying somebody else's problem, no?

Mercedes?

I'm with a couple folks who say go "used" car. I haven't had a car payment in over 20 years, and have spent about 20K on the cars I've bought in that time. All I care about is getting from point A to point B inexpensively.

 

Currently a 1998 Jeep Grand Cherokee with 183,000 miles, bought for $3200 5 years ago with 113K on it.

Mercedes?

 

No sir, likely a Ford.

Mini Cooper for sale in another thread.

Certified does get you longer warranty coverage, IF you happen to have a problem. Although, As long as the car you are buying is only a year or two old with low miles, I'm not sure the premium you pay for a certified vehicle is worth it.

 

We bought a certified RAV4 from a Toyota Dealer. It had 13k miles and was $7k less than the new one and it came with 100k warranty and the new just had a 36k warranty. I'm a haggler so I enjoy the negotiations. But we were very satisfied with our Toyota Certifed Used RAV4.