I'm thinking of buying a car. Any advice?

[tjl]

Used is the way to go IMO.

If you buy a new domestic car, it's resale value can drop by as much as 50% within the first 3 years of owning it - for imports I think it might be around 4 years.

Be careful with published resale value listings, since they are based on MSRP. Many "poor resale value" cars are widely available for significantly less than MSRP due to rebates and such. For example, I have seen base model Ford Focuses new for $10,000 to $11,000, while one year old used ones (also base model ones) were offered for about the same price.

On the other hand, some cars are still good bargains used. Hertz has been offering one year old 2007 Ford Tauruses for $9595 or so. In 2007, a new one was probably $17,000 or so after rebates to a retail individual buyer. (Note: the 2008 Taurus is a different design formerly known as the Five Hundred.)

And since most cars these days can easily last 10 years or more, you still might have around 75% of a car's useful life by buying used - and you only have to pay 50% of it's original cost to get that.

Be careful with inspecting a used car and its service records. Look out for signs of neglect and abuse (e.g. missing owner's manual, no maintenance records, missing keys, mismatched or unevenly worn tires) and previous crash damage (mismatched paint, panel gap irregularities, lights that do not work properly, badges in the wrong place, damaged rear license plate, etc.). Pay a good mechanic familiar with the type of car to inspect it before buying.

 

[spicypumpkin]

Be careful with published resale value listings, since they are based on MSRP. Many "poor resale value" cars are widely available for significantly less than MSRP due to rebates and such. For example, I have seen base model Ford Focuses new for $10,000 to $11,000, while one year old used ones (also base model ones) were offered for about the same price.

On the other hand, some cars are still good bargains used. Hertz has been offering one year old 2007 Ford Tauruses for $9595 or so. In 2007, a new one was probably $17,000 or so after rebates to a retail individual buyer. (Note: the 2008 Taurus is a different design formerly known as the Five Hundred.)



Be careful with inspecting a used car and its service records. Look out for signs of neglect and abuse (e.g. missing owner's manual, no maintenance records, missing keys, mismatched or unevenly worn tires) and previous crash damage (mismatched paint, panel gap irregularities, lights that do not work properly, badges in the wrong place, damaged rear license plate, etc.). Pay a good mechanic familiar with the type of car to inspect it before buying.

Wow, you're very knowledgeable! Yeah, the only reason we bought my mom's car, a Buick Century, new was because of rebates, I guess. It ended up being about $16,000. But I think all of the other cars that my parents have had since I was alive, were used. Apparently, my dad is pretty good at picking out a used car since he actually knows how they work mechanically. I'll definitely ask for his assistance once I have the money saved up.

 

[Wrangell]

Be careful with inspecting a used car and its service records. Look out for signs of neglect and abuse (e.g. missing owner's manual, no maintenance records, missing keys, mismatched or unevenly worn tires) and previous crash damage (mismatched paint, panel gap irregularities, lights that do not work properly, badges in the wrong place, damaged rear license plate, etc.). Pay a good mechanic familiar with the type of car to inspect it before buying.

And to that, I would add that if you buy ' used ' you HAVE to spend the $25 or so to get a vehicle history report IMO....i.e for reports of any lien that may be registered, insurance claims history, odometer record etc.

 

[Wrangell]

Wow, you're very knowledgeable! Yeah, the only reason we bought my mom's car, a Buick Century, new was because of rebates, I guess. It ended up being about $16,000. But I think all of the other cars that my parents have had since I was alive, were used. Apparently, my dad is pretty good at picking out a used car since he actually knows how they work mechanically. I'll definitely ask for his assistance once I have the money saved up.

FYI...check the depreciation hit on this 2005 Century....

 

[spicypumpkin]

FYI...check the depreciation hit on this 2005 Century....

Yeah, I'm not sure if we plan on selling it for a decent price, as with any well used car, you don't get much. Like I said, the only reason we bought it was because we got a special deal on any GM car. It was the one my mom liked the most. Plus, it gets up to 30 MPG. Too bad it's so dorky...

 

[tjl]

And to that, I would add that if you buy ' used ' you HAVE to spend the $25 or so to get a vehicle history report IMO....i.e for reports of any lien that may be registered, insurance claims history, odometer record etc.

Good point, BUT remember that these reports do not give the full picture. Mainly they give title, registration, and state or province mandated inspection history. Crashes that do not result in a salvage title, insurance claims, and visits to repair shops may or may not be visible, often depending on which state or province the car was in at the time. In states or provinces without regular inspections, odometer fraud may be more difficult to detect.

On auto forums, it is fairly common to see posts like "Carfax is a ripoff because I bought a car with a clean Carfax report but it was later found to have been in a severe crash." What it really means is that someone had an overly optimistic expectation of what Carfax or similar services can do. A "dirty" report should definitely be cause for extra suspicion or avoiding that particular car. But a "clean" report still means that you have to take the usual care inspecting the car and its service records, including an inspection by a knowledgeable mechanic if you are not mechanically knowledgeable.

 

[Wrangell]

Yeah, I'm not sure if we plan on selling it for a decent price, as with any well used car, you don't get much. Like I said, the only reason we bought it was because we got a special deal on any GM car. It was the one my mom liked the most. Plus, it gets up to 30 MPG. Too bad it's so dorky...

I simply sent that link along as an FYI to underscore the point about the potential hit you may take - depreciation / value wise - when buying new.

 

[tribal1]

Beware of the used car salesman and take a friend who knows about cars when you step into their territory. There is an which may be a little off the wall but an interesting read nevertheless.

 

[tonymcclellan]

Dont buy a piece of ****. Is that good?

 

[tribal1]

used car salesmen are no worse than the average salesman. There are some willing to lie, and a lot not willing to. Go to a reputable dealership and you should be okay. I always get pissed of when people say stuff like this like the used carsalesman is some evil horror.

There are good and bad apples in every basket but unfortunately the high pressure tactics of some used car salesmen has smeared the profession as a whole.

 

[Wrangell]

Good point, BUT remember that these reports do not give the full picture.

I never claimed they did.

Mainly they give title, registration, and state or province mandated inspection history. Crashes that do not result in a salvage title, insurance claims, and visits to repair shops may or may not be visible, often depending on which state or province the car was in at the time. In states or provinces without regular inspections, odometer fraud may be more difficult to detect.

On auto forums, it is fairly common to see posts like "Carfax is a ripoff because I bought a car with a clean Carfax report but it was later found to have been in a severe crash." What it really means is that someone had an overly optimistic expectation of what Carfax or similar services can do. A "dirty" report should definitely be cause for extra suspicion or avoiding that particular car. But a "clean" report still means that you have to take the usual care inspecting the car and its service records, including an inspection by a knowledgeable mechanic if you are not mechanically knowledgeable.

My point was to simply recommend people use such reports as another measure - to supplement all the other measures someone might undertake to minimize the risk associated with buying a used car.

And in my case, being in Canada, my point of reference were ' CarProof Reports ', which has a pretty solid reputation up here as not being a " ripoff ".

 

[spicypumpkin]

Okay, I think I've got it. Don't buy a used car just because it looks nice and the person selling it says it's okay. I need to make sure I know everything about the history of the car, and if anything is uncertain, I should get it inspected by a mechanic or someone who knows what they're doing.

Am I right?

 

[Wrangell]

Okay, I think I've got it. Don't buy a used car just because it looks nice and the person selling it says it's okay. I need to make sure I know everything about the history of the car, and if anything is uncertain, I should get it inspected by a mechanic or someone who knows what they're doing. Am I right?

That's it in a nutshell.

The mechanic is a real good idea IMO.

Some of my buddies have used a local mechanic who will go to the location ( of a used car you're contemplating buying ) anywhere in the our local area and do an inspection, road test, computer scan, and offer his opinion on condition and asking price.

Think he charges about $70 or so to go to where the car is - and if you take the car to him, it's only about $40.

 

[tonymcclellan]

Ive only ever carfaxed and looked at the vehicle myself. Never had any problems. Everyone seems so scared of everything these days.