5 ms·
on top of it all, your loss of value over time is much lower. will never understand why people would buy a new car that depreciates by 30% the very second you
by asdaq1312512 3y ago
on top of it all, your loss of value over time is much lower.
will never understand why people would buy a new car that depreciates by 30% the very second you drive off the dealership.
- euroderf 3y ago> will never understand why Transferability of warranties ? The idea that a warranty can be transferred seems like an urban legend.
- hef19898 3y agoIn Europe, warranties are transferred so.
- asdaq1312512 3y agonot sure how this is done in the US, but if you buy used from a dealer, I guess you still get a warranty on that?
- hef19898 3y agoMinimum 6 months in Europe. Buy from a brand dealership and you get usually 12 months, some even offer 24. For used cars.
- germinalphrase 3y agoOnly a subset of used cars in the US have any kind of warranty. Most are sold without one.
- shiroiushi 3y agoIf you want something specific, and not just some boring base-model Corolla or whatever, buying used is very difficult.
- hef19898 3y agoIt basically depreciates by almost 10% upon contract signature, whether or not the car is already built or not.
- jolmg 3y agoConcerns over reliability? Some car issues can be erratic and you may not find out about them until some time later. If you buy used, there's a level of risk regarding what the car's been through with previous owners. If you have a family and/or work with a tight schedule and/or park in areas where you wouldn't like to be left stranded, you may really value reliability.
- globular-toast 3y agoYou've never heard of a brand new car going wrong? A used car that's been on the road for 10 years with a full maintenance history gives me more hope for reliability than a brand new car that hasn't had time to reveal its problems. You can always pay someone to insure you against unlikely events and they don't care at all whether the car is new or not. It's up to you to decide how much risk you want to take.
- deleted 3y ago[deleted]
- pavel_lishin 3y ago> A used car that's been on the road for 10 years with a full maintenance history Which is not always available, nor reliable.
- themadturk 3y agoNew cars generally carry warrantees, and buyers are protected in some locations by lemon laws. Not so used cars.
- martincmartin 3y agoAn economist literally won a Nobel prize for answering that: https://en.wikipedia.org/wiki/The_Market_for_Lemons https://en.wikipedia.org/wiki/The_Market_for_Lemons When you buy a used car, even one that's less than a year old, you have no way of knowing if there's something wrong with it. So buyers offer lower prices. Then a seller who has a car that they know is good says "I'm not selling it for such a low price, I know it's worth more." So the only people who sell used cars are the ones where something is wrong with them. A kind of race to the bottom.
- globular-toast 3y agoI wonder how much this is affected by the prevalence of leasing. Something like 1/3 of new cars in the UK start off as leases. At the end of the lease period most/all of them hit the second hand market. In this case I think even the seller doesn't know if it's a lemon or not and, in any case, they will always want to liquidate the car as soon as possible, even if it's a peach. So they would factor the market price into the lease deal and sell all cars at market price regardless.
- aklemm 3y agoI think for buying reliable cars, new is the way to go. They cost way too much used and the first person got all the best miles out of it. Unreliable/niche cars, used all day.
- pandaman 3y ago>that depreciates by 30% the very second you drive off the dealership Nobody would underwrite loans for new cars with low down payment and low interest if this had been true. Also we would see the year old cars with low mileage selling with >30% discount, which is also not the case. The reason I buy new cars is customization: I get exactly the car I want with colors/materials/options I selected.