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08-14-2011, 08:42 AM | #1 | |
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Price gap narrows between new and used cars, data shows
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08-16-2011, 01:03 PM | #2 |
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I love people who say that used is always better to buy than new. They rarely factor in the cost of replacing brakes, tires, belts, etc that are all new on the new car.
Problem is, new car inventories are low right now. it's a tough market for sellers and buyers. |
08-16-2011, 01:19 PM | #3 |
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When I bought my Tundra in late 09', it was cheaper to buy a new 2010 than it was for the equivalent used 2008 model. This is the first time in my life that I've seen this sort of phenomenon. Om nom.
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08-16-2011, 01:51 PM | #4 | |
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08-16-2011, 02:07 PM | #5 |
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Even though this article is talking more specifically about used luxury cars, I have seen this for all used cars in general. For example the $500 used car is now $700.
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08-17-2011, 05:55 PM | #6 | |
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08-17-2011, 06:10 PM | #7 | |
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08-17-2011, 07:59 PM | #8 |
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Depends on the car and how you are buying it. A cash buyer has a plethora of great deals on high-end lightly used cars, but a customer that needs financing for a <=50K car is paying top dollar.
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08-17-2011, 09:00 PM | #9 | ||
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08-18-2011, 08:41 AM | #10 | |
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08-21-2011, 06:58 PM | #11 | |
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Now, how many cars are cash deals? I'd say most people finance, and used financing is higher cost than new. Most CPO program cars are @20-30% less $ than new with 3 years and @40k on them. The fact is that the used cars have less wiggle room on price, and most new cars sell below msrp. so now we are 15-20% difference on price. New cars come with....new tires, new brakes, new timing belts, new clutches, etc. Used, even CPO have old wear items. They likely work fine and won't fall off tomorrow, but they will need replacement sooner. And cars on average have a 150k life span, which is 1/3 gone buying used. I'm not saying don't buy used. I've bought more used cars in my life than new. I'm saying that new is not "irresponsible". And that the difference is less than used car price vs. MSRP. |
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