When you add piles of regulations, requirements, and oversight it gets pretty darn expensive to manufacture a vehicle... so much so, that new manufacturers will never amount to much (including electric manufacturers).
The cost gets passed along to consumers, which is a truth Libs like to ignore.
Probably a good thing. I don't think I'll ever buy a brand new car, even though I could.
Why would anyone want to buy a new car that loses half its value as you drive it off the lot, especially in an age where you can get detailed history reports of the vehicle via Carfax with the click of a mouse?
I just bought a Volvo C70 Convertible with 50k miles via private party. Price: $5,500. New car price: >$40,000. It is immaculate and will be paid off in 6 months and likely won't need any servicing until 100k miles or 5 years with my driving habits. If I bought it new and managed to get 0% interest, I'd be paying over $600 per month over the next 5 years. It is a bit of a no brainer. Used to be better to buy new cars, but not anymore.
That $10,000 new reliable Civic of the past now starts at $25,000 and that is your basic, entry level new car.
Gee between this and cash for clunkers the Car market has gotten bad on both ends..
(02-28-2013 09:38 AM)EverRespect Wrote: [ -> ]Why would anyone want to buy a new car that loses half its value as you drive it off the lot, especially in an age where you can get detailed history reports of the vehicle via Carfax with the click of a mouse?
I just bought a Volvo C70 Convertible with 50k miles via private party. Price: $5,500. New car price: >$40,000. It is immaculate and will be paid off in 6 months and likely won't need any servicing until 100k miles or 5 years with my driving habits. If I bought it new and managed to get 0% interest, I'd be paying over $600 per month over the next 5 years. It is a bit of a no brainer. Used to be better to buy new cars, but not anymore.
That $10,000 new reliable Civic of the past now starts at $25,000 and that is your basic, entry level new car.
I totally agree;however there are situations when a used car price will nearly equal a new car price with a same year/model car. In that case maybe I could see getting a new car. This occurs sometimes during a recession as folks hold onto their older cars thus decreasing used car supplies.
Aside from that scenario, I drive a ten year old vehicle and once it dies will definitely look at the used car market for a "new" car.
(02-28-2013 09:43 AM)VA49er Wrote: [ -> ] (02-28-2013 09:38 AM)EverRespect Wrote: [ -> ]Why would anyone want to buy a new car that loses half its value as you drive it off the lot, especially in an age where you can get detailed history reports of the vehicle via Carfax with the click of a mouse?
I just bought a Volvo C70 Convertible with 50k miles via private party. Price: $5,500. New car price: >$40,000. It is immaculate and will be paid off in 6 months and likely won't need any servicing until 100k miles or 5 years with my driving habits. If I bought it new and managed to get 0% interest, I'd be paying over $600 per month over the next 5 years. It is a bit of a no brainer. Used to be better to buy new cars, but not anymore.
That $10,000 new reliable Civic of the past now starts at $25,000 and that is your basic, entry level new car.
I totally agree;however there are situations when a used car price will nearly equal a new car price with a same year/model car. In that case maybe I could see getting a new car. This occurs sometimes during a recession as folks hold onto their older cars thus decreasing used car supplies.
Aside from that scenario, I drive a ten year old vehicle and once it dies will definitely look at the used car market for a "new" car.
Yes, especially when you buy from a dealer, used car prices can be a rip off. However, even the cheapest Kia goes for over $15k new, which is more than I am willing to pay for any car no matter how much money I have so that makes it easy. I have had good luck with private party sales.
(02-28-2013 07:06 AM)DrTorch Wrote: [ -> ]http://finance.yahoo.com/news/cars-incre...57880.html
So when Obama claims to have saved Detroit, he really means he "destroyed" it.
Got it. Just need to define the terms.
Don't worry Torch, the government always seems to have enough money to buy new cars or provide bailouts when needed.
(02-28-2013 09:38 AM)EverRespect Wrote: [ -> ]Why would anyone want to buy a new car that loses half its value as you drive it off the lot, especially in an age where you can get detailed history reports of the vehicle via Carfax with the click of a mouse?
Somebody has to buy them new, lackwit.
(02-28-2013 09:38 AM)EverRespect Wrote: [ -> ]Why would anyone want to buy a new car that loses half its value as you drive it off the lot, especially in an age where you can get detailed history reports of the vehicle via Carfax with the click of a mouse?
Exactly. This is the very reason why I've never purchased a brand new car. I bought my current car in 2004 and it was only 1 year old at the time. I got it for something like $6000 - $7000 cheaper than same exact model that was brand new. Still driving that gem today with well over 100,000 miles on it.
(02-28-2013 09:49 AM)DrTorch Wrote: [ -> ] (02-28-2013 09:38 AM)EverRespect Wrote: [ -> ]Why would anyone want to buy a new car that loses half its value as you drive it off the lot, especially in an age where you can get detailed history reports of the vehicle via Carfax with the click of a mouse?
Somebody has to buy them new, lackwit.
Agreed, and the poor financial decision is the epitome of America today. It used to be buying a used car was a risk because you didn't know if you were buying a lemon or a salvage and cars were only reliable for about 50k miles. That is no longer the case.
(02-28-2013 09:56 AM)EverRespect Wrote: [ -> ] (02-28-2013 09:49 AM)DrTorch Wrote: [ -> ] (02-28-2013 09:38 AM)EverRespect Wrote: [ -> ]Why would anyone want to buy a new car that loses half its value as you drive it off the lot, especially in an age where you can get detailed history reports of the vehicle via Carfax with the click of a mouse?
Somebody has to buy them new, lackwit.
Agreed, and the poor financial decision is the epitome of America today. It used to be buying a used car was a risk because you didn't know if you were buying a lemon or a salvage and cars were only reliable for about 50k miles. That is no longer the case.
Yep, unfortunately most folks see a car as some sort of status symbol. Why that is I have no idea.
(02-28-2013 07:06 AM)DrTorch Wrote: [ -> ]http://finance.yahoo.com/news/cars-incre...57880.html
So when Obama claims to have saved Detroit, he really means he "destroyed" it.
Got it. Just need to define the terms.
Yeah. I guess so. THe new workers had to take a big pay cut and can no longer afford to buy that new car that they built on the assembly line.
(02-28-2013 09:56 AM)EverRespect Wrote: [ -> ] (02-28-2013 09:49 AM)DrTorch Wrote: [ -> ] (02-28-2013 09:38 AM)EverRespect Wrote: [ -> ]Why would anyone want to buy a new car that loses half its value as you drive it off the lot, especially in an age where you can get detailed history reports of the vehicle via Carfax with the click of a mouse?
Somebody has to buy them new, lackwit.
Agreed, and the poor financial decision is the epitome of America today. It used to be buying a used car was a risk because you didn't know if you were buying a lemon or a salvage and cars were only reliable for about 50k miles. That is no longer the case.
Poor financial decision? If nobody buys new cars, then where do used ones come from?
I think your flawed, idealized notion of how the world works is a bigger problem.
(02-28-2013 10:59 AM)DrTorch Wrote: [ -> ] (02-28-2013 09:56 AM)EverRespect Wrote: [ -> ] (02-28-2013 09:49 AM)DrTorch Wrote: [ -> ] (02-28-2013 09:38 AM)EverRespect Wrote: [ -> ]Why would anyone want to buy a new car that loses half its value as you drive it off the lot, especially in an age where you can get detailed history reports of the vehicle via Carfax with the click of a mouse?
Somebody has to buy them new, lackwit.
Agreed, and the poor financial decision is the epitome of America today. It used to be buying a used car was a risk because you didn't know if you were buying a lemon or a salvage and cars were only reliable for about 50k miles. That is no longer the case.
Poor financial decision? If nobody buys new cars, then where do used ones come from?
I think your flawed, idealized notion of how the world works is a bigger problem.
Expired leases.
(02-28-2013 10:59 AM)DrTorch Wrote: [ -> ] (02-28-2013 09:56 AM)EverRespect Wrote: [ -> ] (02-28-2013 09:49 AM)DrTorch Wrote: [ -> ] (02-28-2013 09:38 AM)EverRespect Wrote: [ -> ]Why would anyone want to buy a new car that loses half its value as you drive it off the lot, especially in an age where you can get detailed history reports of the vehicle via Carfax with the click of a mouse?
Somebody has to buy them new, lackwit.
Agreed, and the poor financial decision is the epitome of America today. It used to be buying a used car was a risk because you didn't know if you were buying a lemon or a salvage and cars were only reliable for about 50k miles. That is no longer the case.
Poor financial decision? If nobody buys new cars, then where do used ones come from?
I think your flawed, idealized notion of how the world works is a bigger problem.
People will always buy new cars, just saying it's not a very smart financial move, that's all.
The last time I bought a new vehicle I waited until the new models came out, and bought the previous year's model. They had to sell it as a used vehicle, since it wasn't the new model. So I got a used vehicle with only 32 miles on it...
The last new vehicle I bought was in 1985...and it will be the last. It is just not a very good financial decision. The cost of these things has skyrocketed because of the Union contract entitlements.
I looked at a Chevy pickup recently that has a sticker price higher than my first home.
(02-28-2013 12:30 PM)bitcruncher Wrote: [ -> ]The last time I bought a new vehicle I waited until the new models came out, and bought the previous year's model. They had to sell it as a used vehicle, since it wasn't the new model. So I got a used vehicle with only 32 miles on it...
The last 2 I bought were 2 years old with warranty intact. Even with saving a ton over brand new..I still felt like I got raped. The price of these things is bordering on stupid.
(02-28-2013 01:26 PM)Fo Shizzle Wrote: [ -> ]The last new vehicle I bought was in 1985...and it will be the last. It is just not a very good financial decision. The cost of these things has skyrocketed because of the Union contract entitlements.
I looked at a Chevy pickup recently that has a sticker price higher than my first home.
So what explains the price of a Toyota or a Nissan? I guess you can say it about the price of a Hyundai or Kia-if they were built in Korea.