Buying the first car: new or used?
- Thread starter Nicmove
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I would recommend buying a used one. You avoid the extra charges related to a new car, and you also avoid the immediate depreciation in value. If you are going to buy a new one, use a site like unhaggle.com to determine the dealer's price, so you know how much room you have to negotiate. Good luck!
NetMecca
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- 14-07-2009
New or used, depreciation is instant on all cars. Cars are not an asset and will always loose value. I have owned used and new. In the end I found that the overall cost of a new vehicle is not significantly more than for a used car. In most provinces you are required to do annual or bi-annual vehicle inspections. Mechanics always find something that is wrong and often things that cost a lot to resolve (for compliance). Especially true for used cars. New cars have warranties, and more often than not services are free or partially free.
If your annual mileage requirements are not too high, I would consider a lease. I love it and probably will never buy a car again. Counting depreciation, maintenance and monthly instalment as well as possible tax benefits (depending on your job), and the fact that you always have a new car with the latest safety technology, it just makes more sense. The reality is that no matter what, your car ends of just being a rental anyway (counting the money and value) no matter whether you actually own it or not. If you see it in that way it makes life simpler.
Unless you are buying a car for another reason (maybe a vintage car or something else) does not make that much of difference cost wise, but it is much nicer having a new car all the time. If you decide to buy I would suggest buy new and flip ever 4-5 years. That way you pretty much only pay the monthly "rent" for a few years and then get a new one when you are tired of it. Best value for your money overall.
If you are on a restricted budget then I guess cost will dictate your choices and they get less, obviously.
Just my thoughts on this subject.
Good luck
If your annual mileage requirements are not too high, I would consider a lease. I love it and probably will never buy a car again. Counting depreciation, maintenance and monthly instalment as well as possible tax benefits (depending on your job), and the fact that you always have a new car with the latest safety technology, it just makes more sense. The reality is that no matter what, your car ends of just being a rental anyway (counting the money and value) no matter whether you actually own it or not. If you see it in that way it makes life simpler.
Unless you are buying a car for another reason (maybe a vintage car or something else) does not make that much of difference cost wise, but it is much nicer having a new car all the time. If you decide to buy I would suggest buy new and flip ever 4-5 years. That way you pretty much only pay the monthly "rent" for a few years and then get a new one when you are tired of it. Best value for your money overall.
If you are on a restricted budget then I guess cost will dictate your choices and they get less, obviously.
Just my thoughts on this subject.
Good luck
New cars lose a lot of their value in the first 3 years...you should be able to find cars 3-5 years old and in very good/excellent
condition for a reasonable price. A good option might be "certified used cars" from a dealership, those are usually thoroughly inspected by the dealer and are sold with warranty for your piece of mind.
I never heard of "special programs for first time buyers/or newcomers"..but when buying a used car, you have the ability to negotiate the price - even when buying from a dealer...
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$3000 nine years old Honda Civic was my first car in Canada and I love it. So my suggestion is to go with the used car, total cost of ownership is the lowest.
But the real catch is somewhere else - car insurance. Premiums for newcomers without Canadian insurance history, or with newly issued G license, are unbelievable, in the range of $2000 - $4000. So you might save more money by shopping for right car insurance than shopping the right car.
But the real catch is somewhere else - car insurance. Premiums for newcomers without Canadian insurance history, or with newly issued G license, are unbelievable, in the range of $2000 - $4000. So you might save more money by shopping for right car insurance than shopping the right car.
Shopping is not always an option especially when it comes to car insurance in BC.
Hi, I think a new car is better.
Regarding the brand - its your own taste and budget.
I recommend do the following.
- Check the dealerships near you and see what they can offer - price, conditions (finance, leasing, service and etc.)
- Get a test-drive.
- Then choose 2-3 models and consider the insurance for them, as it is expensive for newcomers.
Of course, if you have friend with a car you can get an additional discount in his/her dealership very often.
It is not difficult to search dealerships if they offer any special promotions for newcomers.
As I know, RoyFoss Thornhill (GM dealership) had a special bonus for newcomers last month, but I am not sure how long that promotion worked.
Luckily, we have the Internet now to find all necessary information.
Good luck with your car.
Regarding the brand - its your own taste and budget.
I recommend do the following.
- Check the dealerships near you and see what they can offer - price, conditions (finance, leasing, service and etc.)
- Get a test-drive.
- Then choose 2-3 models and consider the insurance for them, as it is expensive for newcomers.
Of course, if you have friend with a car you can get an additional discount in his/her dealership very often.
It is not difficult to search dealerships if they offer any special promotions for newcomers.
As I know, RoyFoss Thornhill (GM dealership) had a special bonus for newcomers last month, but I am not sure how long that promotion worked.
Luckily, we have the Internet now to find all necessary information.
Good luck with your car.
C
Classic Chucks
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NetMecca
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I am particular about safety features. Best way to get some clarification is to look at crash test results. I think it is important for winter driving especially.
http://www.iihs.org/iihs/ratings
http://www.iihs.org/iihs/ratings
Correct, and you need real winter tires in the winter. Universal all season tires are very bad joke for Canadian road conditions in the winter.