What is the benefit of buying a new $20k car over a $25k used car that was over $46k at one time?
I ended up buying 2020 Toyota Corolla
- A HunchLv 78 months ago
A $20K car is always going to be cheaper than a used $46K car:
- less expensive maintenance
- less expensive operating costs (gas)
- regeruggedLv 78 months ago
It is cheaper. It may not be as good.
- JetDocLv 78 months ago
Obviously, the car that originally sold for $46k is much better quality and more luxurious car than one that sells for $20k. That's why I buy used Cadillacs. The main benefit you're getting from buying a BRAND NEW car is it comes with a BRAND NEW factory warranty. That $25k used car is probably ready for a new set of tires and other routine maintenance that could get to be expensive, but still a better quality car than the el-cheapo new car.
- Old Man DirtLv 78 months ago
As cars age they reach the point that major maintenance items come up that are expensive. Also items come up that require a major investment in repairs. If that "46k at one time" car has reached that point or the age where those repairs will cost more then the depreciation of the 20K car for one year, it is more cost effective to buy the new car.
There are sites that can help a person determine the depreciation of ownership and projected operation costs. That is the key- operation costs! Total operation costs include depreciation, fuel, insurance, maintenance and projected repair costs.
- How do you think about the answers? You can sign in to vote the answer.
- thebax2006Lv 78 months ago
The warranty and not needing to do repairs for a good 30,000 miles.Source(s): Mitsubishi Master Tech
- keerokLv 78 months ago
The new car is more efficient and thriftier. The used car is more luxurious and flashy.
- artherLv 58 months ago
5 years ago my friend used to putshit on me for driving and ole dunger when he brought his brand new holden cruz now my old dunger is worth more than his holden cruz. Hes spent more on motoring than me since 2013 I've driven further and brought twice as much fuel as he has.
- jimanddottaylorLv 78 months ago
The new car smell comes with the new car, while the used car will be losing it's interior aroma.
The new car warranty will outlast the remaining warranty on the used one.
The new one may have features that the used car just never had available
Wear items like tires and brakes will last longer on the new one
A year after the purchase, the expensive used one will start to look better because these advantages only last as long as the new car is 'new'
- 8 months ago
Without knowing more about each vehicle and without knowing what your personal needs are, it's impossible to provide a good comparison. Obviously, you're going to pay less for the new car, so there's a benefit. A new car is not going to have problems due to the carelessness of the previous owner, and it will probably be under warranty. Outside of those 3 things, there's not much more that can be said for a comparison.
- Kid MohawkLv 68 months ago
That would depend on a LOT of factors. Perhaps the $25k car has features you might desire, or it's a model suitable to your career needs, or it's had after-market enhancements... The list goes on and on.