orangehairfella
Recycles dryer sheets
- Joined
- May 28, 2015
- Messages
- 67
Its time to replace the 25 year old car I've had for 10 years. Neither the heat nor AC work, the transmission and power steering are going, interior electrics are getting wonky, and the list goes on and on from there. Its time.
I've never bought a brand new car, but I'm having a hard time making the math work on a used one. I've been using Edmunds.com's TCO calculator and every time I do, buying new seems to work out about the same as buying used. Granted I would own it longer than 5 year, but longer ownership seems to favor new even more as initial depreciation becomes a smaller percentage of total cost.
Here's a few examples of cars for which I've actively shopped: Manual transmission compact hatches. Note that I've subtracted the financing component of the calculator here. In each case I've picked the lowest trim level that was common to both years. I don't want bells and whistles, just a reliable car.
2013 Subaru Crosstrek ($30075) vs 2016 Subaru Crosstrek ($28583).
2011 Mazda 3 ($25057) vs 2016 Mazda 3 ($23751)
2012 Subaru Impreza ($26506) vs 2016 Subaru Impreza ($25661)
I'm not cherry picking here, I'm shopping for these in the used market and new just doesn't seem to demand much of a premium. I'm assuming its the segment I'm shopping, manual wagons. It also doesn't help that the used supply of such a thing is severely constrained. I did notice the high end luxury market seems to work in the used market's favor, but this forum doesn't seem like a high end luxury car sort of place.
Is there something I'm missing? With numbers like this, why buy a used car?
I've never bought a brand new car, but I'm having a hard time making the math work on a used one. I've been using Edmunds.com's TCO calculator and every time I do, buying new seems to work out about the same as buying used. Granted I would own it longer than 5 year, but longer ownership seems to favor new even more as initial depreciation becomes a smaller percentage of total cost.
Here's a few examples of cars for which I've actively shopped: Manual transmission compact hatches. Note that I've subtracted the financing component of the calculator here. In each case I've picked the lowest trim level that was common to both years. I don't want bells and whistles, just a reliable car.
2013 Subaru Crosstrek ($30075) vs 2016 Subaru Crosstrek ($28583).
2011 Mazda 3 ($25057) vs 2016 Mazda 3 ($23751)
2012 Subaru Impreza ($26506) vs 2016 Subaru Impreza ($25661)
I'm not cherry picking here, I'm shopping for these in the used market and new just doesn't seem to demand much of a premium. I'm assuming its the segment I'm shopping, manual wagons. It also doesn't help that the used supply of such a thing is severely constrained. I did notice the high end luxury market seems to work in the used market's favor, but this forum doesn't seem like a high end luxury car sort of place.
Is there something I'm missing? With numbers like this, why buy a used car?
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