
He would like a new or late model small Toyota RAV4 or Honda CRV with AWD. He may be living in areas with snow or extreme heat and will be driving to construction sites as well as possible long trips home for visits. Also, plans on using for "car camping" and visiting national parks. Priorities are dependability, good mileage, suitable for extreme weather and construction sites, style and comfort. Lower priced sedans will not meet his needs.
He will not get first paycheck until end of June and will be making a good salary and have some student loan debt. He will be paying for the car, but we are fine with lending money for a down payment if needed.
I always like to buy used and have been looking online at RAV4's and a 2016 with lower miles seems to run about $18,000-$20,000 at Budget Car Sales, CarMax, and local dealers. Most are off of warranty and we would finance with our credit union (requiring 10% down and approx. 3% for 36 months)
However, in this situation should he consider new? (factory warranty, no down payment, low .9% 36 month financing rate, new grad rebate) 2018's seem to be advertised at around $25,000 (RAV4 AWD). Also, we haven't looked into any leftover new 2017's which may be less.
Could this a situation where the boglehead decision may be to buy new? Is there a logical way to compare from an economic point of view? Either way, he plans on keeping the car for a long time. Also, any recommendations if this is the best time to buy for deals or should he wait until closer to May when he needs the new car?
Thanks in advance!