Should I buy a new or almost new car?

V

Victor

Senior Member
Location
midwest USA
My old car is 11 years old in fine condition, but the body has bad scrapes and visible scratches.
No problems at all. 40,000 miles only. But I have wanted a new -ish sedan for years now. I have the money to
pay it all now, though car dealers prefer that you finance it. More profit. Also, the Chevy I like has low seats
I like because it is easier to see over the hood and helps with parking. A new car more than doubles my insurance
in fact. It is very hard to find the color I want, but one is in my neighborhood. My old car has low tradein value I am told.
I could wait, but I have already waited--procrastinated for 2 years after pandemic.
The thing is I hate driving, especially in traffic, and I don't go out much anymore, except nearby. Retired.over 74.
When I travel, I fly and rent a car ( thats how I discovered this likeable model). I drove it for hundreds of miles.
What would you do?
 

I wrestle with this too.

My vehicle is a 2012 with approx. 44,000 miles.

I plan to wait until it’s time to renew my drivers license in early 2026. If I’m unable to renew it for another 8 years I will scrap my vehicle. If I pass I plan to purchase a new car or a low mileage program car.

I’m considering a Chevrolet Trax or similar.

I tend to fuss about spending the money but I doubt that my heirs will have similar concerns.

YOLO!

😉🤭😂
 
I'm a "drive it into the ground" guy, and only "retired" my previous car because after hitting a deer that jumped out one night the insurance company totaled it at 16 years. I'd probably say "keep it" but then you say the body is rough, so it sounds like you want a move.

My current car is 6 years plus now but the dealer has offered me good money on it, probably due to condition and very low mileage. So I'm eyeballing stuff since (a.) my car still has trade-in value, (b.) interest rates have/are falling so cash in the bank isn't making as much for me and soon car loans will fall which drive (or hold) car prices upward. This makes now (or soon) a good bet to renew with a new vehicle before I get much older (68 now).

I've pretty much decided on what I'd want. I just need them to become more available to reduce the dealerships' incentives to pack crap on and not negotiate much. Most of them have a blacked-out interior too, and I want one with the lighter colored seats. Right now the body color I'm interested in only comes with black seats.

So personally I'm still biding my time.
 

There are some things to consider. Would you be stranded if your car was not working? Is it still useful? How much longer are you going to be driving? A 2012 was 12 years ago, and cars have evolved since then, they are better built and come crammed with great electronics. My car emails me if there's problems.
I would take advantage of the dealer financing, IF it means a significant decrease in the price. You can always just pay it off, immediately.
And if you like the car, and have the money, why not?
 
Key sentence IMO in your post.

" But I have wanted a new -ish sedan for years now."

You said you have the money to buy what you want, then say that insurance will more than double.

Lets toss this in.

"The thing is I hate driving, especially in traffic, and I don't go out much anymore, except nearby. Retired.over 74."

you ask

What would you do?

I'd carefully consider if my "want" not "need" a new car would satisfy me.
 
Victor said:
My old car is 11 years old in fine condition, but the body has bad scrapes and visible scratches.
No problems at all. 40,000 miles only. But I have wanted a new -ish sedan for years now. I have the money to
pay it all now, though car dealers prefer that you finance it. More profit. Also, the Chevy I like has low seats
I like because it is easier to see over the hood and helps with parking. A new car more than doubles my insurance
in fact. It is very hard to find the color I want, but one is in my neighborhood. My old car has low tradein value I am told.
I could wait, but I have already waited--procrastinated for 2 years after pandemic.
The thing is I hate driving, especially in traffic, and I don't go out much anymore, except nearby. Retired.over 74.
When I travel, I fly and rent a car ( thats how I discovered this likeable model). I drove it for hundreds of miles.
What would you do?
Click to expand...

If you've got the money, why not? I'd prob give it a couple months to see if Chevy offers 0% interest and get through winter w what you've got. Looks like they have a current offer of $2250 customer cash 2024 Malibu.

And I wouldn't be so quick to accept a low trade. Many people look for those reliable, low mileage vehicles for cheaper transport for families and a kids first car.
 
Personally, I lean towards buying a late-model used car with as low mileage as possible, purchased from a reputable dealer you've bought from before and trust. My newest car is eight years old, but I've owned it since I bought it with only 12,000 miles on it. It now has 26,000 miles on it, and is doing fine as it was designed to do. My dealer tries in vain to tempt me to buy a newer model every so often, but why should I? I also put on just a few thousand miles a year, and drive only as much as I need to since taking to many roads is akin to participating in the chariot race in the movie, Ben-Hur... 🙀

Buying a car, however, is a uniquely personal decision. If someone yearns for a newer vehicle, you can afford it, and such would make you happy, go for it! We can't take our bank account with us when we pass on, and time waits for no one...
 
At my age I want a safe and dependable vehicle with a good factory warranty. I don't want to have it breaking down, especially when we are a long way from home. So a couple months ago I bought a car with a 5 year bumper to bumper factory warranty. When this car is getting near 5 years old and near end of factory warranty I will buy something new.
 
Purchasing an almost new vehicle with low mileage is a great decision. A car with an extended warranty is even better.
Georgiagranny said:
Whatever you decide, don't trade it in. An 11-year-old car with 40,000 miles is worth a heckuva lot more to a private party (even if it's not still "pretty") than what you'll get as a trade-in.
Click to expand...
I completely agree. Sell car privately for a much better deal.
 
I'm in the exact same position. My car is eleven years old with 40,000 miles on it. It runs fine and has given me very little trouble. But, I don't really like it. We bought it for my wife who wanted an SUV. It was easier for her to get in and out of. I don't have that problem. To me it feels like driving a motor home. My previous personal car was a Ford escort, which I loved. But, after 25 years of use it started having problems and I couldn't trust it anymore.

I'd really like something like the escort again and I could afford it. But, I'm 85 and I don't know how much longer I will continue to drive. Right now, it's no problem, but I know this could change pretty quickly. And, I won't drive if I feel I might hurt somebody.

If I do buy another car it will be a low mileage used vehicle. I don't go very far and drive so little that I think that would do me fine.
 
Victor said:
My old car is 11 years old in fine condition, but the body has bad scrapes and visible scratches.
No problems at all. 40,000 miles only. But I have wanted a new -ish sedan for years now. I have the money to
pay it all now, though car dealers prefer that you finance it. More profit. Also, the Chevy I like has low seats
I like because it is easier to see over the hood and helps with parking. A new car more than doubles my insurance
in fact. It is very hard to find the color I want, but one is in my neighborhood. My old car has low tradein value I am told.
I could wait, but I have already waited--procrastinated for 2 years after pandemic.
The thing is I hate driving, especially in traffic, and I don't go out much anymore, except nearby. Retired.over 74.
When I travel, I fly and rent a car ( thats how I discovered this likeable model). I drove it for hundreds of miles.
What would you do?
Click to expand...
Your car is eleven years old with forty thousand miles on the clock. All our previous cars never lasted much more than five years. Reason is, they lived outside. Then, some twenty odd years ago, a VW Golf became our daily drive and a seventy-six year old MG took up occupancy in our garage.

The VW shares the garage with that geriatric MG, the result of that is, our VW having lived in a heated garage with a cosseted, old, internal combustion, pensioner, has never suffered the ravages of the weather. It's clocked uo two hundred thousand miles and it's still our daily drive. That's unless I get dressed up in the era of our MG when it was new and go out in that.

Having such a classic car makes the desire for a change of our daily drive far less than previously when all it took was a tatty appearance.
Suit & tie.JPG
 
The only problem with myself selling my car is who would drive it back home after I get a new one? One dealer is walking distance. Another possible dealer is 22 miles away. I have no one to go with me. No friend
Well what if I lease it? I never did that before.
Most buyers would wait til next year but isn't that just excuse procrastinating? I am so indecisive and vacillate too much
My bad nature
 
Victor said:
The only problem with myself selling my car is who would drive it back home after I get a new one? One dealer is walking distance. Another possible dealer is 22 miles away. I have no one to go with me. No friend
Well what if I lease it? I never did that before.
Most buyers would wait til next year but isn't that just excuse procrastinating? I am so indecisive and vacillate too much
My bad nature
Click to expand...

The dealer will make delivery at your home.

Lease is sometimes good. Lots of numbers to play with and be played by. It took me months to completely understand a lease, but I did lease one car and it worked out well.
 
OMG. All my cars….and i have several…have many many miles on them. We drive a lot. My volvo is 8 years old and has 136000, my explorer has 154000. The truck has 212000, the subaru has 139000. None have ever broke down on the road. I will never buy new because in a month the darn thing will have 4000 miles on it. Just ask the truck and subaru.
 
A lease is buying and selling a car in the same transaction and originating a loan for the portion of the value leased. Some of the factors include selling price, interest rate, residual value, and allowable miles and the cost of additional miles.

The best deals come when manufacturers support the lease w cheap selling price, low interest rates, high allowable miles and generous residual value.

One can get taken in multitude of ways if one is lazy and trusting. Do the homework and run numbers until absolutely sure of all assumptions and methods.
 
Do you have any consignment lots in your area where the seller can set their high and low prices? They start out at the top price and then drop it as you wish or if you prefer, they use their own judgment. I looked at a few vehicles on the one lot. I priced a 2015 GMC Yukon Denali with 88,00 miles on it 3 years back and the owner was asking $16,000. The ticket on the vehicle showed the price would drop $400 every 2 weeks until sold. I told the lot owner I would buy it if it was still around at $14,000.

The “Infotainment system” had gone out and it needed new tires. I offered the owner another $2000 less and he accepted it. I thought installing the Infotainment System would be difficult, but it was easy.
He called the owner and the owner accepted the $14,000 cash offering less the $2000. So I bought it. I am a bit of a gear head, so I did the few things listed on the ticket that the vehicle stated should be replaced and I had It until 2 years ago.

The “Infotainment system” is the system in the middle of the dash that shows the backup camera image, the various radio, cassette, USB music available and the GPS to name a few things built into it.
 
Victor said:
The only problem with myself selling my car is who would drive it back home after I get a new one? One dealer is walking distance. Another possible dealer is 22 miles away. I have no one to go with me. No friend
Well what if I lease it? I never did that before.
Most buyers would wait til next year but isn't that just excuse procrastinating? I am so indecisive and vacillate too much
My bad nature
Click to expand...
The dealer will pick you up, ring a vehicle by whatever. When SO went through his convertible phase BMW brought one over for test drive without sales person every night for a week. Not a peep when we said no thank you.
 
I really hate to buy cars. Over the years, we have bought new & one low mileage used vehicle. We keep them until the wheels fall off & then put new wheels on them & keep on going. I have always made sure the oil is changed every 3,000 miles, all maintenance is up to date & it goes into the shop if something doesn't sound or feel right to me. I have also been blessed in having a great mechanic who keeps them all going for me. I think a few times I've given him a challenge in fixing a car & he wouldn't cry uncle.

My 92 Olds Cutlass was bought just off of the car carrier with 3 miles on it & it had 250,000+ miles when it finally passed in 2006. In 2004, we bought a Buick Regal to replace the Cutlass & it now has 350,000+ (last time we could read the digital mileage) & it's still going . We just bought a 2025 Explorer with 3 miles on it to replace the Buick when it passes.

For me, my cars & I have been together a long time & I've grown attached to them. Yea ... they are an inanimate object, but they have literally saved my a$$ more than once.

For me, if it's still running & doing well, I will keep them until I can't repair them anymore. That's just me.
 
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