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On a newer used car, interest alone can eat up the difference if you are comparing something that does not depreciate much. Lightly used car prices are pretty high right now, which is surprising given all the lease returns.
Long ago, I quit believing much of what the "experts" had to say on any subject.
"Ex-spurt"
"EX"= a has been
"SPURT"= a drip under pressure
Too many of them, IMO, have a lot of "book learnin", but not enough real world "street smarts"!
Long ago, I quit believing much of what the "experts" had to say on any subject.
"Ex-spurt"
"EX"= a has been
"SPURT"= a drip under pressure
Too many of them, IMO, have a lot of "book learnin", but not enough real world "street smarts"!
Back in late 2003, I went car shopping with my father. We were looking for a car for my sister and went to a Chevy dealer to look at a certified Monte Carlo SS. It was a 2003 and had under 10K miles on it and was probably a demo.
They were able to offer a better deal on a brand new leftover. It was a big dealer and the story was that they took in all the leftovers from surrounding smaller dealers and were unloading them. They had six leftover Monte Carlo SS, all the same except for the color, and they all had stickers on the decklid from other dealerships.
Interest rates as low as 0% offset a lot of other things when used car rates are like 7%. But only if the car is new enough to be high dollar. A $4,000 loan will not accrue all that much interest even at 7%.
If we are considering a nearly new vs. a new car insurance rates and registration fees and not significantly different. If you buy a $30,000 car and compare it to he the same car that is 1 year old and worth say $27,000. You will not see much difference. Resale value is not that different either because the new car deprecates must faster the first year while the used car already took the big depreciation hit. Depreciation is a curve the levels somewhat over time. Thus, the newer car will always be depreciating faster than the older car.
I always snicker when people claim to be master car purchase negotiators. First off the difference in sales prices is in the hundreds, not thousands, so it does not make a ton of difference. Second in this age of information, pretty much everyone knows what a car can be purchased for and knows what a decent deal is. There is no secret trick. The car is going to sell within a certain price range and most buyers know what that price range is. Then it becomes a matter of how stubborn and patient you are that will determine where you fall within that price range. I defy anyone to negotiate a better deal than my daughter was offered minutes after simply walking in the door. Apparently they thought she was nice, or cute or something because they simply handed her about the best price that could be negotiated for that car, all she had to say was I like that one.
Used might not cost more, but there are definitely times where it is close. Jeep Wranglers for instance. You will see a 2-3 year old wrangler with 30something thousand miles and it will only be a few thousand less than a brand new one.
Out here in Colorado, the same applies for some models of Subaru.
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