Would it be better for me to get a new or used car?

Question

I am a 21 year old college student and I spend about 45 min to an hour in the car daily. I currently have a 2001 Pontiac Grand Prix with 120k- the gas gage doesn't work, I have a coolant leak, and the engine makes a ticking noise.

I don't want to put any more money into this car, I want a car that is under warranty so I don't have to worry about any more car troubles while I am in school.

I make about 2k a month, with bills being about 550 only.

I am looking for a new car in the mid 17k range. In this case would it be better to go used or new?

Answer 1

What is more valuable, your time or money?

I drive a Honda fit. put 4K down and pay under 300/mo.  I get 37 overall mpg with road trips from VA to SC at 43 mpg. Great stereo, plays mp3 so you listen to 150 songs on one cd.  I do  not forsee ANY mechanical problems for the first four years.  Plenty of time to graduate.

I've always bought new after college because I plan to drive the cars until they die. I drove a 1980 Subaru Gl htchbck to 275K miles. A 95 civic to over 230K miles.  A Toyota Celica to 115K untill it was totalled.  A Toyata Minivan, now 180K miles and still going strong. Buying new gives you knowlege of vehicle history.  I also have a new 03 honda CBR 954RR.  The only car that gives me trouble is my used 88 ford F250

Answer 2

My 8th Grade math teacher taught me it is SO much better to buy a used car because you will save SO much. If you buy a new one the second you drive it out of the parking lot it's worth like 3,000 less than what you paid for. I no you could find a nice used car. You're much better off with that.

Answer 3

it really depends on the car u get. and from what u wrote saying that u spend up to 45 minutes in a car daily that's very little so u won't keep the top of the line. but if u want a car guaranteed free problems go with new.

Answer 4

Probably a used car like a 2006 or 2007 VW, they are cheaper but are still good cars.

Answer 5

I know its not what you want to hear but FIX your car and keep driving it. Your gas gauge doesn't work most likely due to cheap gas with too much sulfur in it. Easy fix buy a couple of bottles of Techron by Chevron and run it through your fuel system and use Top Tier gasoline (Texaco, Shell, Phillips 66,etc). Have your coolant leak fix (probably a clamp or a hose which is less than a 20 dollar fix). Solve your ticking noise by switching to a synthetic oil it will lubricate your valves and lifters and stop the noise. That car will probably easily get you through college for under 600 dollars in service work then you can pocket the money you were going to put down.

If you decide that you have to have a new car buy a Ford Fusion 4cylinder with low miles you can find one still under warranty with low miles. You could also look for another Grand Prix or G6 with low miles 1-2yrs old because that would give you a 100k mile powertrain (engine/transmission) warranty. Good luck but I would fix the GP and keep driving it if it were me.

Answer 6

It has been my experience, that buying what they call a "program car" or a demonstrator is  well worth it.  I have always owned those cars. The last one I purchased just last month, is a 2005 model, with 15,000 miles on it with limited warranty.  Some newer models have better warranty.  My reasoning is that the car has been used enought to be "broken in " so to speak and is  and has been for me the best because there are no problems with it at all.

Answer 7

well right now where I live and I assume it's probably about the same else where you can buy a 2008 KIA for $5555  fully loaded with a 10 year 100,000 mile warranty, I would do that instead of getting a used car that way you know it's new and has a warranty.

Answer 8

As a student I would not invest my money in a new car.  They are simply too expensive.  The smart money is to buy used. You can go out and buy a very nice used car that is just coming off lease that will have low miles, be 2 or 3 years old and most will likely still have some remaining factory warranty available.

These are great cars that will give you years of good service, plus you'll save thousands of dollars off theprice of something new.

But don't think that just becasue a car is newer and under warranty that you won't have to spend money on maintenance and repairs.  All cars need to be serviced and if the new car develops a coolant leak or the engine needs to be tuned up you just have to spend the money and get it done.  

DO NOT let the salesman talk you into an extended warranty. They are a waste of money.

Answer 9

new it will have warranty and no probs and if it does its under warranty

Answer 10

If I were you, I'd be looking for a one year old used car.  Buying new is not smart these days.  When you drive it off the lot, you lose a few grand because of the depreciation.  Why not let some other poor sap lose the initial depreciation, then buy it off of the car lot he sold it to for the depreciated value?

Answer 11

always buy used cars, they're a lot cheaper. If you buy one from a dealer you should get a warrenty as well.

Answer 12

I would look for a good newer used car with low mileage with a good warranty (like a rental car sale)  The depreciation that hits the value of a new car is amazingly high the minute you drive it off the lot.

Answer 13

I read somewhere in Forbes that like 95% of the world's richest people drive cars that are between 2-5 years old. Do you think that it is a coincidence? Buy a car that is not brand new, but is still new enough to have the factory warranty.

Answer 14

17K.... I will prefer to get a used 3~4 years old Lexus ES330 with 50k miles instead of an Econ new car as new Toyota. The feeling is really different for driving a Lexus and Toyota. 17k good enough to get a CPO Lexus - and you can save a few thousands if you don't need to get a CPO.

Answer 15

get a used car, one thats like 2 or 3 years old. better value and save alot money now and the future.

Answer 16

NEVER buy used, not even pre-owned.  The dealers consider you "below them" and treat you accordingly.  It's much more worthwhile to buy new.

Edit: Whoever gives me a thumbs down can s***w themselves.

Answer 17

ill go with a used car that is about 1 yr old, youll save money, from a new car, and still under warrentee, check out car rental places, they have good deals

Answer 18

If you can find a cheap used car with good condition, then you shall go for the used car. If you really cant find a good condition used car, then only go for the new car.

Answer 19

some ppl get new cars and cant drive for s***, but as said earlier you dont wanna get a 10yr old used car...so u can get a used car at max 4 yrs old...

Answer 20

As you are still in college I would say buy used, because you will be putting a lot of miles and use into it while you are still in school. And wait till you graduate to buy yourself a new car, maybe as a graduation present to yourself.

Answer 21

Warranty? well really there is no warranty without a deductible which is how they reel you in......my sister bought a car under  "warranty" and they really screwed her over when it was time to fix it under "warranty" she had to pay 500.00 deductible plus the parts that are not in the "warranty" and ended up spending about 900.00 out of pocket for her "warranty" so be careful read between the lines they paint you a pretty picture because you are their meal ticket so choose carefully and wisely and Good luck I would go with a used car new ones come with problems just like used cars do.