@OroroMunroe wrote:. When is a car considered used? The car has about 200 miles on it.
As long as it's never been titled.. .it's still considered new. Doesn't matter if it has 2 miles on it or 200.
I bought my car in January with around 20 miles on it.
@ezdriver wrote:Buy used and avoid that initial, instant depreciation. I really don't know why anyone would buy a brand new car.
Because the Challenger is my dream car and I've been thinking about a purchase for 3 years... when I saw the 2015 refresh (interior and exterior) I jumped on it.
Sure I lost some money driving it off the lot... but I won't be trading it in anytime soon (like never) so it doesn't make a difference to me. I got GAP insurance ($17 month) to cover me while I'm in the red. Once I get in the green I'll cancel it.
The fact that my car is a modern V8 muscle car (and not a Kia) will hopefully give it a little more staying power when it comes to holding value. I owe just over $38k which is right at the current wholesale value with the options I have... not sure what the book value is for trade and honestly don't care.
Did I mention I know all the maintenance that's been done on my car and I don't have to guess what the previous owner may or may not have done?
BTW, don't think I don't agree with what you are saying. I've always bought used... but when it came to the dream car, I had to buy new.
Wow. Nice looking car. Congrats TRC
FICO (Discover) 805
@TRC_WA wrote:
@ezdriver wrote:Buy used and avoid that initial, instant depreciation. I really don't know why anyone would buy a brand new car.
Because the Challenger is my dream car and I've been thinking about a purchase for 3 years... when I saw the 2015 refresh (interior and exterior) I jumped on it.
Sure I lost some money driving it off the lot... but I won't be trading it in anytime soon (like never) so it doesn't make a difference to me. I got GAP insurance ($17 month) to cover me while I'm in the red. Once I get in the green I'll cancel it.
The fact that my car is a modern V8 muscle car (and not a Kia) will hopefully give it a little more staying power when it comes to holding value. I owe just over $38k which is right at the current wholesale value with the options I have... not sure what the book value is for trade and honestly don't care.
Did I mention I know all the maintenance that's been done on my car and I don't have to guess what the previous owner may or may not have done?
BTW, don't think I don't agree with what you are saying. I've always bought used... but when it came to the dream car, I had to buy new.
Well that's not just a car ... that is a specialty product for which an exception is warranted. I'm assuming that a CPO or the like is not available for that car. If resale is not an issue, then you are off the hook ... lol. Now go test that redline!
@twisted2ru wrote:I've been thinking about this new car, used car thing ......Is it really that much cheaper? I just got approved for a new car loan at %1.99 my used car rate is %4.87.
typically newer cars get better gas mileage, used cars repairs are coming sooner, If you bought a new car the resale is going to be better, That new car smell (got to be worth at least $500)............ seems like dealers these days are getting top dollar for used cars.
To me, it makes much more sense to buy used or CPO. I generally purchase a vehicle one to two years old and with milage in the less than 25k range. I save many thousands on the purchase depending upon the vehicle, $7k to $10k+ is average savings for me on just sales price, plus I save all the interest on the substantially lower price. i get a vehicle about 1x every 3 to 5 years so that savings adds up.
This is a personal decision to every vehicle buyer. It would kill me to throw away that kind of money every 3 to 5 years on a vehicle. 
I can think of others ways to spend my $$$$