The Cookout

[sourgrapes]

When it comes to cars, which do you think is the best option overall?

Cars drop in value right away soon as you drive them off the lot. I can't remember the average they drop but it almost seems criminal when you look the prices doing down. I used to think buying a new car was a good investment but it seems like it is the most senseless purchase someone can make. I have seen new cars selling for 25k and their slightly used counterpart (about a year old, low miles) selling for $16k. That is almost a 10k difference!

Leasing isn't much better because you aren't "owning" anything but it takes off a lot of the cost and responsibility for the upkeep of your vehicle, so there is an upside there. With good credit as well, you can get a decent price monthly and do trade-in deals every 3 to 5 years.

 

[Blackgravity]

Depends on your economic situation, depends on how much you drive and depends on what type of car.
I think it's always better to buy a car outright, own it and keep it up. I hate car payments, but I'd make an exception depending on the payments and what type of car. I've always liked Hondas, very dependable, look good and good trade in value. (if you take care of it)

 

[The Honorable]

When it comes to cars, which do you think is the best option overall?

Cars drop in value right away soon as you drive them off the lot. I can't remember the average they drop but it almost seems criminal when you look the prices doing down. I used to think buying a new car was a good investment but it seems like it is the most senseless purchase someone can make. I have seen new cars selling for 25k and their slightly used counterpart (about a year old, low miles) selling for $16k. That is almost a 10k difference!

Leasing isn't much better because you aren't "owning" anything but it takes off a lot of the cost and responsibility for the upkeep of your vehicle, so there is an upside there. With good credit as well, you can get a decent price monthly and do trade-in deals every 3 to 5 years.

If it was a premium vehicle like a BMW or Mercedes I would lease as the maintenance can be oppressive outside of the warranty period. If it's something reliable like a Toyota I would consider a purchase.

 

[sourgrapes]

I've always liked Hondas, very dependable, look good and good trade in value. (if you take care of it)

This is true. Some brands/builds have higher value than others cause they are built to last longer. You just have to take care of them. I heard/read that used car prices are up right now as well which could be good for anyone looking to sell a used car to get a newer one. Not sure how much they are up though. This inflation is wacky.

 

[Red Velvet]

This is true. Some brands/builds have higher value than others cause they are built to last longer. You just have to take care of them. I heard/read that used car prices are up right now as well which could be good for anyone looking to sell a used car to get a newer one. Not sure how much they are up though. This inflation is wacky.

Yes girl. Last thing you want to be is stranded on the side of the freeway because you’re in a junker. I had a scare one day in the fast lane that led to a $5000 repair. After that reliability meant something else to me. The dollar value wasn’t as important as my life and safety.

 

[sourgrapes]

Yes girl. Last thing you want to be is stranded on the side of the freeway because you’re in a junker. I had a scare one day in the fast lane that led to a $5000 repair. After that reliability meant something else to me. The dollar value wasn’t as important as my life and safety.

The older I get the more I question the logic of driving around junk cars. Like I know if you need a car and don't have the cash for something better, that is the option you have to go with but you risk a lot driving one around. I have always been a bit paranoid of older used cars myself. I was in two accidents, so it kind of ruined me.