Comments on: Why buying used cars usually makes sense http://asklizweston.com/2009/11/10/why-buying-used-cars-usually-makes-sense/ Personal Finance Columnist Thu, 09 Feb 2012 03:37:26 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Edward http://asklizweston.com/2009/11/10/why-buying-used-cars-usually-makes-sense/comment-page-1/#comment-728 Edward Thu, 12 Nov 2009 20:41:23 +0000 http://asklizweston.com/?p=1562#comment-728 I've personally bought 15 cars off of eBay Motors. 2 I still have, 2 I lost money on when I sold them and 11 of them I turned a profit even after driving them from 1 month to 18 months. Highly recommend buying used cars off of there. Edward James Parker Watch Historian I’ve personally bought 15 cars off of eBay Motors. 2 I still have, 2 I lost money on when I sold them and 11 of them I turned a profit even after driving them from 1 month to 18 months. Highly recommend buying used cars off of there.

Edward James Parker
Watch Historian

]]> By: lizweston http://asklizweston.com/2009/11/10/why-buying-used-cars-usually-makes-sense/comment-page-1/#comment-725 lizweston Wed, 11 Nov 2009 18:18:57 +0000 http://asklizweston.com/?p=1562#comment-725 I've bought new cars, too, and it definitely has its advantages--particularly having control over the break-in period, which can make a difference in the life of the engine and transmission (so I've heard--clearly, I'm not a car buff!). But a new car is definitely a luxury, so I believe you should pay cash or at the very least put down 20% and use a 3-4 year loan to pay it off quickly. I’ve bought new cars, too, and it definitely has its advantages–particularly having control over the break-in period, which can make a difference in the life of the engine and transmission (so I’ve heard–clearly, I’m not a car buff!). But a new car is definitely a luxury, so I believe you should pay cash or at the very least put down 20% and use a 3-4 year loan to pay it off quickly.

]]> By: Aaron @ Clarifinancial http://asklizweston.com/2009/11/10/why-buying-used-cars-usually-makes-sense/comment-page-1/#comment-716 Aaron @ Clarifinancial Tue, 10 Nov 2009 14:12:59 +0000 http://asklizweston.com/?p=1562#comment-716 Thanks for this. As rational as I am, I still love new vehicles and constantly read car blogs and watch car shows in my past time. The rational side of me thinks of cars as a value stock that will lose money. If I want to lose the least amount of money, I will do one of two things: 1. Buy a new car that is "over valued" and will lose the least amount of resell value during the period I plan to hold it. 2. Buy a used car that is "under valued" and has lost more value that its peers in the same time frame, reducing the hit when value bottoms out. There are other things to consider too like if the manufacturer is about release a newer version of your new car or reliability of your used car. Thanks for these tips and pointing to Edmunds too. Thanks for this. As rational as I am, I still love new vehicles and constantly read car blogs and watch car shows in my past time.

The rational side of me thinks of cars as a value stock that will lose money. If I want to lose the least amount of money, I will do one of two things:

1. Buy a new car that is “over valued” and will lose the least amount of resell value during the period I plan to hold it.
2. Buy a used car that is “under valued” and has lost more value that its peers in the same time frame, reducing the hit when value bottoms out.

There are other things to consider too like if the manufacturer is about release a newer version of your new car or reliability of your used car. Thanks for these tips and pointing to Edmunds too.

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