Toyota v. Honda (and new v. used)?

[HornedToad10]

Generally you can get a new car around or below invoice price plus getting the dealer incentives. It can still be more expensive, but for 2 years more of use and brand new I consider it worth it.

Depending on dealer incentives you could probably get the Camry LE below around $18k and the Sienna around $27-28k as a wild guess. I use the Fax attack method but similiar results can also be found with other methods where you have dealers compete for your business.

 

[DaveNineFive]

So let's assume your price is right. $18k new or $13k 2 years old. And assume you'll drive the car until it's 10 years old.

That's either $1,800 / year for the new car, or $1,625 / year for the used car.

Even getting the new car way under sticker, you're still paying far more per month than you would with the used option.

You'd get a newer car for the first two years, but then you'd have the exact same aged car for the next 8. The price is pretty close, though, and I do understand the attraction to knowing exactly what a car has been through, though.

 

[HornedToad10]

For me personally, $175 a year more for 10 years is worth having a car that's two years newer and where I've been the sole owner and got it new with the 2 years of newer features/safety/etc over the life of the car.

I also dislike buying cars so I get 10 years out of the new car and only 8 years out of the used car so saves some hassle there too.

It's at least close enough that it no longer is a no-brainer to buy newly used for the Honda/Toyota models.

 

[Dimsumkid]

I was just looking at the new car prices in the Chicago Tribune today, Northside Toyota is listing a 2011 Camry LE for $18,588. Includes 2 yrs of free scheduled maintenance. They have 99 available.

 

[Moemg]

When I was recently car shopping I came to the conclusion that on the lower cost cars such as the Honda CRV it was such a small difference that it did not pay to buy used . However if you were interested in a more expensive car with all the options the price drop for a slightly used was certainly worth it . It almost swayed me to a more expensive car but who needs heated seats in Florida ?

 

[Meadbh]

but who needs heated seats in Florida ?

I'll take your heated seats and raise you a bluetooth connection....

 

[ERD50]

For me personally, $175 a year more for 10 years is worth having a car that's two years newer and where I've been the sole owner and got it new with the 2 years of newer features/safety/etc over the life of the car.

]I also dislike buying cars so I get 10 years out of the new car and only 8 years out of the used car so saves some hassle there too.

It's at least close enough that it no longer is a no-brainer to buy newly used for the Honda/Toyota models.

Agreed, pretty much regardless of model (maybe some exceptions, I don't know). There might be some slight financial benefit to buying 2-3 year old, but it seems minimal and outweighed by the things you mention. Also consider that a 2-3 year old car is going to need tires & brakes in short order, other maintenance will be due sooner, and 2-3 years less under warranty. I'll find some other area to be frugal. But if it works for others, that's fine.


-ERD50

 

[BigMoneyJim]

When I was looking at Camrys and Accords I found that Honda's seats were made for smaller people than me, but the Camry fit me well. I wound up buying a used 2006 Sonata. I call that model "Honda on the outside, Toyota on the inside" as it is very much a copycat car. After 3 years of owning it I've replaced a bunch of light bulbs (most twice) and had a couple of other electrical issues like the windshield wiper and right door lock failing. But no major issues so far.