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When Buying New is Smarter Than Buying Used

Illustration for article titled When Buying New is Smarter Than Buying Used

Last week I made the assertion that "Buying New is for Suckers," of course I was only half-serious about that title. Most of you agreed, and reiterated that you can get more car for your money if you are willing to roll the dice. However, some of you rightly pointed out that buying a new car might be the better option.

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Being knowledgeable Jalop readers you cited reasons such as:

"You don't have to deal with someone else's farts in your seats."

"You control the maintenance history."

"Most loans are more competitive on new cars."

"Some cars just don't depreciate that fast."

For the sake of balance, I have again scoured the internet for examples where you are probably better off avoiding the pre-owned market. Again, these picks are just a sampling of what is available and for the sake of simplicity I have not factored in rebates, discounts, and negotiations.

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1. Love for the Miata runs deep in these parts, and on the surface this used 2013 Mazda MX-5 Sport: $20,995. seems like a good buy for less than 21k. That is until you find out you can land a new one with the same equipment for $20,219.

This image was lost some time after publication.
This image was lost some time after publication.

2. It seems no matter where you are the truck market is always strong. So strong someone is charging over 33K for this used 2013 F150 STX, V6, 2WD. Seems a bit steep to me especially when you can pick up this new 2013 F150 STX, V8, 2WD for less than 22k.

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3. Lightly used popular mid-size sedans often suffer the same fate as the pick-up trucks. Take for example this CPO '13 Honda Accord EX-L V6 for around 28k. Not too bad considering the new MSRP of about 32k, however if a '14 EX-L V6 is discounted to 27.5k the new proposition seems much better.

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This image was lost some time after publication.

4. Lastly you would think you could save some cash by getting a used street-legal rally car like this used '13 Subaru WRX with 11k miles for about 27 grand. However, given the how these machines bring out the inner hoon in everyone, perhaps it's best just to spend a few hundred more and grab a '14.

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Just a quick note on pre-owned performance cars. Many of you have said you would "never" buy a used car that is specifically performance oriented fearing that it has been hooned to death by the previous owner. However, if you legitimately don't have the budget to get a new one, your dreams of a fast ride shouldn't be squashed. I do recommend being extra vigilant and patient until the right example comes around.

I am of the philosophy that there is no one "right" car for everyone and that there is no one "right" way to buy a car. Whether it be buying new, used, CPO, or lease you need to decide what is best for your needs and budget. My job is to give my customers all the options available so they can make the most informed and confident decision possible.

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Thanks for reading!

My name is Tom and I run AutomatchConsulting.com. I am a professional car-buying consultant, which means people pay me to help them select the right car (NO YOU CAN'T HAVE A PRIUS) and negotiate with the dealerships to get them the best price. If you have any other questions or suggestions for future posts about the car-buying process please let me know. You can find some of my other posts on car-buying here.

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You can also find me @AutomatchTom and Facebook.com/AutomatchConsulting

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DISCUSSION

tommcparland
Tom McParland

Also, the Volvo V60 you must by new...why? Because you can't buy these used (yet) and if you don't buy them new, Volvo will stop making them...and then the earth's magnetic poles will shift, and the zombie apocolypse will be upon us...and it will be all your fault because you didn't buy a new V60. (Also, if all that bad stuff doesn't happen, there will not be enough used V60s for us poor Jalops).