Used cars are not always a deal. You have to look at each individual case, simply stating 'buy used its better' is completely dated and out of touch with reality.
I have purchased both new and used
I purchased a car new in 2005, I am still driving it today and it is in amazing shape (inside and out)
In 2005 I paid about the same for the new car as a similar used one with 15,000 miles on it would have cost me
Lets just give the used car a fake advantage, let's say I could have gotten the used car $2000 less at purchase time
over 18 years that is about $112 per year I would have saved.
I have made no unexpected repairs on my 2005 car, only maintenance, and I have record of every oil change and every maintenance cycle done correctly and done with Toyota parts only (or synthetic oil).
Warranties have a cash value, that has to also be added (new or used)
Totally not worth saving the $2k or $112 per year to me. but that is made up savings, reality was there was no savings. In 2005 I bought the car 20% below MSRP posted on the sticker (yes that was totally possible in 2005)
The federal government will let you expense 65.5 cents per mile from your taxes if you travel in a personal vehicle that qualifies for a deduction (not worried about the taxes part of this, but value of 65 cents per mile is key)
I know that 65 cents per mile includes gas and insurance, etc, etc so not all of the govt per mile cost goes to depreciation and maintenance costs
I promise you this, that used vehicle you are buying is NOT properly adjusted for mileage
If the govt rate doesn't make it clear, look at edmunds total cost of ownership
5 years, 15,000 miles per year, here is what it costs the average person
2021 camry used as example
View detailed ownership costs for the 2021 Toyota Camry on Edmunds. The 2021 Toyota Camry True Cost to Own includes depreciation, taxes, financing, fuel costs, insurance, maintenance, repairs, and tax credits over the span of 5 years of ownership.
www.edmunds.com
$22,865 is your out of pocket expense for 5 years 15,000 miles per year according to edmunds (not including fuel or insurance etc that are not per mile costs)
that breaks down to about 30 cents per mile, lets go even cheaper, lets knock that down to 20 cents per mile and say we do our own maintenance and saved some money
Now go find that used car you think is a deal. It has 30,000 miles on it, I might add the best smoothest quietest most trouble free miles, the 'premium miles' but I will not add a premium value even though to be fair I should.
30,000 * .20 = $6000
Are you really buying that used car for $6000 less than the new one?
30,000 * .30 = $9000
now you see what a bad deal a used car can be when adjusted for mileage?
Taking into account common numbers that the car industry or the federal govt agree is cost per mile (with some LOWERED estimation on my part)
If you think the math is flawed, then what does it cost to drive 1 mile?
Maintenance + repairs + taxes + fees + depreciation + financing as most people have to add it.
The reason used car prices are so high is people are fucking stupid.
Used cars are also harder to finance and usually have higher rates (yes I know many credit unions will do a good rate used, but my statement probably covers 80%)
Look at the specific deals you are able to find and crunch numbers, negotiate and don't be a bitch. I can't buy a reasonable used car cause too many dumb bitches are out there overpaying.
