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Old 03-11-2021, 06:22 AM   #21
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I drive a 2013 Altima with 120k miles on it...pretty happy with it, but do dream about a new ride with better technology.

However, living in a city with plenty of crime, I am not sure how much I want a flashy new car. There is something nice about knowing that my car is not so desirable. That's the impact of urban living I reckon.

also dropping collision coverage is a good thing for my lean fire sensibilities
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Old 03-11-2021, 06:29 AM   #22
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If I were you I would check out the Honda CRV. The added functionality of a small SUV might be appealing as an only vehicle. Buy new. Jmho
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Old 03-11-2021, 08:11 AM   #23
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It it really true that cars are in short supply? I thought I heard that Honda Accord sales were way down and they were discounting them heavily. In general Iíve been reading that car sales are down due to COVID because so many people are working from home now that they donít use their cars nearly as much as they used to.
SUVs are continuing to sell well, but there is discounting of sedans, which are not as trendy.
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Old 03-11-2021, 08:15 AM   #24
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If you do buy new you may want to wait to the very end of the month to do the deal.
It is the end of a quarter and they usually want to squeeze in a few sales to get certain bonuses ,quotas etc. Much more likely to get a better deal.
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Old 03-11-2021, 08:23 AM   #25
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+1 A two to four year old "newer" used car saves you immediately the depreciation (at four years probably almost half the cost of new). But still gives you a newer car with lots of the new technology.

I bought a 2016 Hyundai Genesis that way last year. It was right at half the cost of brand new. Only had 31000 miles on it, had been a leased car, very well maintained exclusively at Hyundai dealers under the lease terms, and was sold after lease expiration by Hyundai Finance Corp.
This doesn't work quite as well for trendy SUVs as it does for sedans. I look at used cars and find the prices of larger sedans, such as Acuras and Toyota Avalons, quite attractive.

A Honda CRV or Rav4 is probably better bought new. The savings for late model used ones don't pencil out well.
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Old 03-11-2021, 08:30 AM   #26
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I've been considering a new Prius Prime Limited rather than a Tesla 3 (which is a little more than my car budget), and the incentives on those have gone from $2K late last year to $4K in January to $4.5K now, and those are popular cars. So just from that, I'm guessing supply is higher than demand. It's been hard to justify pulling the trigger since we don't drive very much, though! Even when everything reopens, our jobs will probably stay full-time remote, as it lowers overhead costs.

And you can probably get 0% financing if the dealer is eager to sell. Toyota is also offering 0% for 72 months on the Prius Prime, plus $500 cash back. I know it's only one model, but that's all I've been looking at other than Tesla, and they don't discount anything! (For good reason, IMO...)
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Old 03-11-2021, 08:40 AM   #27
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I forgot to mention that although I FIRE'd in 2016 and an isolating from the pandemic, I do drive a 3 hour round trip, taking my 94 year old mother with me, each week to drop food off for my step-father. So having a reliable car is important.

I think I would agree that maybe getting a new car and keeping the TSX for a beater would be the way to go.

My 94 year old mother says that the TSX is a nice car and that I should keep it and wait until I can buy a flying car.

Joe,


First and foremost great job on keeping your car for almost 15 years and 220k miles in all reality you likely have a lot of life left in the car. I recently did what you are considering and wile I don't "regret" my decision I wouldn't do it again.

Knowing that you drive your car 3 hours round trip makes no difference despite what some people say, cars are made to be driven... Make an honest assessment of the reliability of your car and if it's time for something new(er) buy something that's already taken the big depreciation hit. I like 5-10 y/o cars with 100k miles. A new(er) Accord, Camry, Acura, Lexus will be a nice upgrade to what you have now, no sense in chasing the latest and greatest safety innovations unless you plan to buy a new car every year.

I agree with you we WILL see inflation but it's a car if you want to hedge against inflation buy a house or two
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Old 03-11-2021, 11:15 AM   #28
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Although it is a bit more than I would like to pay, I have my eye on the Acura TLX which replaced the TSX, moving it up the price scale.
I have a 2015 Acura TLX (V6) and love it. I bought it used in 2018 for 60% of the cost of a new one and in the 3 years I've owned it it's been flawless.

It's very quiet on the highway and gets good mileage and I wouldn't hesitate to buy another one.
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Old 03-11-2021, 11:34 AM   #29
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blow that dough. i had a 2004 toyota camry that served me very well. if i wanted to keep it there would be repairs needed that would have been more than what the car was worth. i got a 2021 honda accord hybrid. great car.
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Old 03-11-2021, 09:36 PM   #30
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The answers are all over the place. It really depends what your goal is. A frugal buy would be a 1yr old rental hyundai accent which is reliable, cheap to maintain and repair, despite the crappy interior and ride but it is more than just a a to b junker. If your goal is something more luxury than the old acura, then get a new luxury whatever fully be aware that you will probably pay overall three times more than the accent.

Why not buy a used $15k minivan for road trips and a new little car like chevy spark, a Toyota yaris, or a Corolla for $20k for daily driver? That way you are not paying more than a luxury suv but get the best (some would say the worst) of both worlds.
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Old 03-11-2021, 10:23 PM   #31
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Your 2004 Acura TSX is 17 years old and 220,000 miles means you've got your use out of it. Congratulations on having the willpower to keep it so long.

An Accord or Camry are actually bargains on the new car market at $24-25k on the low end. Both also hold their values well on the used car market. They're up to the high 30's in mpg, and both cars are about the most trouble free vehicles available. I just traded my 2018 Camry Hybrid (49mpg) after 69k miles, and it never saw the shop.

Supplies of new vehicles are down somewhat, but there are still many new vehicles on dealers' lots. Chances are you can get a decent deal on either Accord or Camry as their dealers have more volume than Acura dealers who have very high overhead costs per unit sold. Both seem to have sales incentives and/or low APR programs all the time. But if you have the cash to buy the car--use it.

Many people will keep their used car to knock around in--saving the miles off the new car. Keep your TSX. I keep an 18 year old diesel pickup to haul 'stuff' in.
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Old 03-12-2021, 02:44 AM   #32
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I would get a top of the line Honda instead of Acura. Honda rates much higher than Acura at Consumer Reports for overall score and also reliability specifically.
That's something I never understood lol....they are basically the same car mechanically. They probably roll off the same assembly line. Hard to imagine how the reliability could be much different.
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Old 03-12-2021, 04:53 AM   #33
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Life is short - buy the car you want now. You got 220k out of your current car. You got your money's worth out of it.
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Old 03-12-2021, 08:35 AM   #34
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Life is short - buy the car you want now. You got 220k out of your current car. You got your money's worth out of it.
Agreed. But the frugal part of OP may be chafing a little at the prospect.
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Old 03-12-2021, 09:04 AM   #35
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IMO, never buy a brand new car. I never have, never will. Buy a 1-3 year old one and let someone else eat the "off the lot" depreciation. And I agree, if you got 220k out of what you have now, it is only going to start costing you more money in repairs.
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Old 03-12-2021, 10:28 AM   #36
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I prefer new cars myself. But the bottom line is only you know your finances, so if financially itís not an issue, buy a new car of your choice. If saving costs is what you want, buy a newer used car as many have suggested. Personally, Iíve known too many folks that ended up buying someone elseís problem, so thatís why I prefer new.
That said, I highly recommend getting the new safety technology. The anti collision feature only has to work once to pay for itself.
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Old 03-12-2021, 06:58 PM   #37
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We bought a Toyota RAV Prime last week (posted on Blow the Dough) since DW thinks the 2017 Silverado was "too big". Great car. We sold the Silverado to the oldest son the winemaker, since he has two toddlers and they are thinking of getting a trailer (edit: winemaker and wife, not the toddlers).



It's all dependent on budget, but hey we saved about 1/2 the price of the car in 2020 by not travelling during COVID, other than camping across the state and driving to the oldest son's house in the Central Valley (from Reno). YOMO.
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Old 03-12-2021, 07:33 PM   #38
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If you have had the car for a long time, and it has been maintained, and the engine and transmission are in decent shape, and you like the way it drove then I would keep driving it. I believe those i-Vtec engines have a good reputation for reliability and able to travel much further than 220K without any serious problems.

If you have been researching you may found reports where generically speaking these modern small displacement, turbocharged, direct gasoline injection engines are not holding up as well and having problems with gasoline diluting the engine oil because of the very high pressure in the cylinder head, pressure necessary to the get increased horsepower (performance) and gas mileage. I think Honda has tweaked the software to manage the pressures and thus the oil dilution issue in engines from a few years ago and I do not know anything about the 2021 Acuras or their overall reliability. Just don't assume you will be buying a car that will last as long as your current one has and could probably last if it has been maintained.
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Old 03-13-2021, 10:00 AM   #39
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IMO, never buy a brand new car. I never have, never will. Buy a 1-3 year old one and let someone else eat the "off the lot" depreciation. And I agree, if you got 220k out of what you have now, it is only going to start costing you more money in repairs.
This.
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Old 03-13-2021, 12:20 PM   #40
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IMO, never buy a brand new car. I never have, never will. Buy a 1-3 year old one and let someone else eat the "off the lot" depreciation. And I agree, if you got 220k out of what you have now, it is only going to start costing you more money in repairs.

Never?

Try buying a 1 -3 year old Toyota Tacoma. Cost as much as new which is why I twice bought new ones. Present one is 12 years old with 118k on it and still worth 14-16 grand. I paid $27000 for it in 2009.
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