I’ve been having some pretty interesting debates with other people with my “never buy a brand new car” rule.
Many new car advocates would swear by the hassle-free driving experience that a new car brings. That, to them, is worth all the bucks that you save by not buying one brand new.
Buying used is definitely a hit or miss thing. Or, if not, quite a chore since you have to do a lot of research and leg work to be able to get one that’s low-mileage and well-maintained. Even at that, you still need to shell out a few more bucks for the routine maintenance and repairs.
Then again, there’s always certified “pre-owned” vehicles sold in dealerships. They do count as used cars but are more costly than you get one privately. Thing is, they usually come with warranties albeit shorter (12 to 24 months).
One of the open secrets with these certified pre-owned cars is that they usually are more profitable for dealerships than brand new ones. If you don’t do the math carefully, you might really be better off getting a new one. Then again, warranties do count with these used cars.
In my opinion, it always boils down to math but I guess personality counts as well. If you’re the type of person who can’t be bothered with repairs and such, maybe the depreciation cost can be worth your peace of mind.
