The New Vs. Used Dilemma 

This topic has long been debated.  First I will say that this is written from an opinion standpoint and not meant to serve as expert advice in the automotive field.  Also, please keep in mind that this is written from a women's perspective that has served me well in the pursuit of car buying.

Car buying is going to truly depend on a couple of things.  First, what is the purpose of the car you are buying?  Is this going to be the family car, a sports car you drive for 6 months out of the year, for your kids to drive or perhaps a work car?  Next, figure out what kind of buyer you tend to be.  By this I mean do you enjoy getting a new vehicle every 2 years?  Is this a priority for you?  If this is you than most likely a lease purchase is for you.  Basically a lease is a good option because in two to three years you can turn the car back in to get a different one, continue on with the lease or even decide to purchase the car.  This is a no money lost, no money gained situation.  ****Please keep in mind that they give a certain amount of miles that can be put on the car.  If you drive a lot this might not be an option for you.

For this type of buyer that enjoys having a new vehicle every few years or so, the purchase of a new vehicle becomes a very bad idea.   This can be costly as a new car becomes a trade and then before you know it you have an upside down loan.

The new car buyer is different in a couple of ways.  They want assurance that this car has nothing wrong with it, at least until they drive it off the lot and they are the first ones to drive it.  One advantage to purchasing a new car is the warranty.  The warranty comes with the car, no additional purchase.  Plus did I mention the new car smell!!!   Mmmmmm.

The last car buyer is the one looking for a deal and willing to take a little risk.  This is the used car buyer.  They are not willing to take the loss of the new car purchase.  ***As a side note here a brand new car loses 20% to 40% of it's value within the first year depending on the make and model.   A used car can offer all of the things a new cars has but without costing as much.  However there is the risk involved of buying a lemon.  With today's internet and research this can almost be avoided as long as you do your homework.

A quick personal story of my buying experience shows used car buying can be smart.  I purchased a Toyota Corolla that was 2 years old with 11,000 miles on it.  It had been a rental car for in town use only so it was well maintained.  It was also certified by the dealership which gave me peace of mind.  I saved a little over $5,000 in purchasing used vs. new.  I have kept up with regular maintenance, replaced a couple of batteries, an air vent and a belt.   Now with close to 150,000 miles on it, I can say I would do it again.

What is your experience and/or opinion in regards to buying new, used and leasing?