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Snowdog · 03-26-2008, 11:05 AM

My car is dying. I can't decide if I'm going to repair it or cut my losses, but I need new wheels. I don't have money saved for a purchase. Looking at economy class utilitarian cars.

Used: Cheaper. Bank financing available at higher interest rates for reasonable terms (60 month)

New: Expensive. Large drop in value from taxes and dealer fees when I drive it off the lot. But, 0 or 0.9% financing at 60 months for various domestic and imports.

Question: New or Used. Everyone says its silly to buy new, but it seems that the value lost is more than made up with by the warrantee and the higher cost over 5 years of financing something used. In a perfect world I'd be able to buy a decent used car outright. But if youre looking at a used car with 5.8-7.5% financing vs a new car at 0-0.9% finanacing, does it make sense to buy new?

03-26-2008, 11:05 AM	#1 (permalink)
Snowdog Upright	New or Used? My car is dying. I can't decide if I'm going to repair it or cut my losses, but I need new wheels. I don't have money saved for a purchase. Looking at economy class utilitarian cars. Used: Cheaper. Bank financing available at higher interest rates for reasonable terms (60 month) New: Expensive. Large drop in value from taxes and dealer fees when I drive it off the lot. But, 0 or 0.9% financing at 60 months for various domestic and imports. Question: New or Used. Everyone says its silly to buy new, but it seems that the value lost is more than made up with by the warrantee and the higher cost over 5 years of financing something used. In a perfect world I'd be able to buy a decent used car outright. But if youre looking at a used car with 5.8-7.5% financing vs a new car at 0-0.9% finanacing, does it make sense to buy new?