Buying a used car

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ready20
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Buying a used car

Post by ready20 » Tue Nov 06, 2018 11:07 am

Let me start by saying- I hate cars- just have never been a car guy.

I do have one main question from anyone with experience.

I am interested in buying a pre-owned import SUV- Lexus, Acura, Nissan. etc.

Although no one can predict the future, I want the best combination of lowest price and warranty to include items that realistically could need costly repairs.

So the question is, what sweet spot should I be looking at in terms of mileage and age of vehicle from the board's experience?

bloom2708
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Re: Buying a used car

Post by bloom2708 » Tue Nov 06, 2018 11:15 am

If you are not a car guy, think about it in reverse.

Save some money. What is the closest car dealer to where you live? Time is money. Proximity for oil changes is money.

Now you have to choose between New, CPO (Certified Previously Owned) or Used/Warranty, Used/No Warranty.

You listed 2 luxury car brands and Nissan. Infiniti is Nissan's luxury brand to compete with Lexus (Toyota) and Acura (Honda).

Out of warranty, Lexus, Acura, Infiniti are more expensive to repair. Parts are more and the luxury designs make them more difficult to work on (more labor hours for a job). I currently own 2 Lexus and previously owned 2 other Lexus. I like them as cars/reliability. I do know they are more to get repaired.

You will also have to look at buying versus leasing. If you want to always stay in warranty and don't really care what the car is, then leasing may make sense. It isn't going to save you money, but it will keep you in a new car every 2-3 years.

Cars are so personal, these are tough topics. You don't have any idea if you want a sedan vs SUV? AWD vs FWD vs RWD, cloth vs leather, luxury vs non-luxury? Start to narrow the list down.
Last edited by bloom2708 on Tue Nov 06, 2018 11:32 am, edited 1 time in total.
"We are not here to please, but to provoke thoughtfulness." --Unknown Boglehead

ready20
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Re: Buying a used car

Post by ready20 » Tue Nov 06, 2018 11:21 am

Thanks

I'm leaning towards a 2015-2018 Nissan Pathfinder. I historically drive cars for 5-8 years- the additional costs in a lease aren't something I'm interested in.

Based on the above what is a good rule of thumb in terms of importance of Cert Pre-Owned, low mileage, ie. do I pay more for something that has 22K instead of 35K and if so how much more should be a cut-off?

Thanks

GuyFromGeorgia
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Re: Buying a used car

Post by GuyFromGeorgia » Tue Nov 06, 2018 11:29 am

Do yourself a favor and google "2015 Pathfinder issues" and then google "2015 Lexus rx issues". People give Lexus a hard time because they aren't flashy and performance oriented, but in my opinion they are among the most reliable cars on the road. Look 2-5 years old with under 45k miles. CPO is nice, but you're paying an extra $2k-3k for something that is built into the car (i.e. it is built to not have issues).

renue74
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Re: Buying a used car

Post by renue74 » Tue Nov 06, 2018 11:35 am

I'm with you. I hate cars. I hate researching cars. I'm not a car person and could care less about the horsepower or # of cylinders in one.

Since 1992, I've owned 4 cars. (There was a 5th, but I disowned that one)

All my cars have been Hondas, except for that 5th one a VW Passat station wagon. (I hate you VW)

I currently own a 2005 Honda Pilot and love it. I don't think you can ever go wrong with Honda.

My wife has a 2016 Nissan Pathfinder and it drives smooth. I like it fine, but would never admit that.

I typically, buy a used car about every 5-7 years....from Craigslist. I wait, and a wait and try to find the one that fits me.
My wife is not so patient. She'll go to CarMax and buy after 1 day of "looking."

So...that's all I have. Honda and Nissan Pathfinder. Works for us. May not for you.

bloom2708
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Re: Buying a used car

Post by bloom2708 » Tue Nov 06, 2018 11:36 am

ready20 wrote:
Tue Nov 06, 2018 11:21 am
Thanks

I'm leaning towards a 2015-2018 Nissan Pathfinder. I historically drive cars for 5-8 years- the additional costs in a lease aren't something I'm interested in.

Based on the above what is a good rule of thumb in terms of importance of Cert Pre-Owned, low mileage, ie. do I pay more for something that has 22K instead of 35K and if so how much more should be a cut-off?

Thanks
Do you need the 3rd row of a Pathfinder? MPG won't be very good for in town driving. So many details missing. See what the new/COP/used inventory is in your area with Cargurus.com and start to compare the prices. Pathfinders will hold their value quite well. If you are narrowed into a Pathfinder, then compare colors, mileage, features, price points and 1 to 3 top candidates will emerge. Then drive a couple. See if one stands out.

Highlander, Pilot, Explorer or Flex would be in a similar size category. Probably all better reliability.
Last edited by bloom2708 on Tue Nov 06, 2018 11:44 am, edited 1 time in total.
"We are not here to please, but to provoke thoughtfulness." --Unknown Boglehead

onourway
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Re: Buying a used car

Post by onourway » Tue Nov 06, 2018 11:37 am

Nissan is not on the same level as Toyota and Honda for reliability, nor for fit and finish and quality. The Pathfinder is usually near the bottom reliability-wise in its class.

ready20
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Re: Buying a used car

Post by ready20 » Tue Nov 06, 2018 11:42 am

Thanks. I am interested in the below.

1. Pre-Owned Four Door SUV
2. Most reliable, lowest anticipated maintenance costs for 5 years
3. Based on #2, would love to hear recommendations on brands and mileage, year which would best accomplish #2.

Concerning my Pathfinder comment, my last two cars have been Nissan and I just threw that out a bit too prematurely.

Example I am struggling with- should I pay the $X amount more to get vehicle with X thousands of miles less on it cause the 5 year costs will be less??

Thanks for all the help already.

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JMacDonald
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Re: Buying a used car

Post by JMacDonald » Tue Nov 06, 2018 11:42 am

Here is a website that will give you a sense how a particular make and model has done:
https://www.carcomplaints.com
Best Wishes, | Joe

DiMAn0684
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Re: Buying a used car

Post by DiMAn0684 » Tue Nov 06, 2018 11:44 am

I have recently purchased a 2016.5 Mazda CX-5 with 30k miles that came off a 2 yr commercial lease (it was non-CPO because of the way I got it, but it still had 12 month / 6k miles of the original warranty left). Based on the window sticker I found in the glove box and the research I've done looking at new vehicles I've saved ~$10k, roughly a third of car's price. That seemed like a sweet spot for that particular car, perhaps because 2017 model was a complete re-design. I suspect each vehicle might have different sweet spots, you'll just have to figure a list of cars you might want and investigate each further.

renue74
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Re: Buying a used car

Post by renue74 » Tue Nov 06, 2018 11:48 am

ready20 wrote:
Tue Nov 06, 2018 11:42 am
Thanks. I am interested in the below.

1. Pre-Owned Four Door SUV
2. Most reliable, lowest anticipated maintenance costs for 5 years
3. Based on #2, would love to hear recommendations on brands and mileage, year which would best accomplish #2.

Concerning my Pathfinder comment, my last two cars have been Nissan and I just threw that out a bit too prematurely.

Example I am struggling with- should I pay the $X amount more to get vehicle with X thousands of miles less on it cause the 5 year costs will be less??

Thanks for all the help already.
I agree...I was not a fan of Nissan and the fit/finish is not as great. My in-laws have a Toyota Highlander and they love it. I can definitely see the "upgrade" when I ride in it versus our Pathfinder.

If you are keeping a car for a long time, it might be worth it to make sure you get a used car with low miles. That's what I always do....I always look for low miles and will be a little "premium" for it....because I know I'm going to put 150K miles on it myself.

Just imagine all the $ you save over your lifetime by not buying new. How many years earlier can you retire? :)
I used to have an admin assistant who would buy new cars. I asked why and she said, "that's what my family has always done." :oops:

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wander
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Re: Buying a used car

Post by wander » Tue Nov 06, 2018 12:00 pm

ready20 wrote:
Tue Nov 06, 2018 11:07 am
Let me start by saying- I hate cars- just have never been a car guy.
I don't know how you can hate a car. It's just for transportation.

ready20
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Re: Buying a used car

Post by ready20 » Tue Nov 06, 2018 12:04 pm

More accurate statement- I hate the expense of a car

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tyrion
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Re: Buying a used car

Post by tyrion » Tue Nov 06, 2018 12:07 pm

ready20 wrote:
Tue Nov 06, 2018 11:42 am
Thanks. I am interested in the below.

1. Pre-Owned Four Door SUV
2. Most reliable, lowest anticipated maintenance costs for 5 years
3. Based on #2, would love to hear recommendations on brands and mileage, year which would best accomplish #2.

Concerning my Pathfinder comment, my last two cars have been Nissan and I just threw that out a bit too prematurely.

Example I am struggling with- should I pay the $X amount more to get vehicle with X thousands of miles less on it cause the 5 year costs will be less??

Thanks for all the help already.
Here's the problem - with new cars you can compare and price shop between models and dealers. They are known quantities and come with a known warranty.

Used cars are a bit of a crap shoot. You might find a low mile lightly used Toyota/Honda SUV, but then those hold their value so they sell at a premium. If you know cars you might be able to find a diamond in the rough, but you aren't really a car person so that probably doesn't hold a lot of appeal.

Alternatively, you could buy a lower priced new SUV. A Mazda cx-5 or Toyota Rav 4 or Honda CRV. Then you will be getting a known quantity, can test drive them all, and get a full warranty. What you will likely sacrifice is some bells and whistles, as you will likely be looking at base models to keep the price down.

suewolf
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Re: Buying a used car

Post by suewolf » Tue Nov 06, 2018 12:14 pm

We purchased a used 2013 Lexus RX350 a few years ago. We found that a three year old, 40k mile Lexus is a great value. There were lots of these coming off of lease which flooded the market. Our view is to look for value and a reliable car. For us, that was the RX350.

Yes, Lexus repairs are expensive but it's highly reliable. We've had zero repair costs thus far though the preventive maintenance costs (ie: 90k mile recommendations) are not cheap. Currently have 100k miles and plan on keeping through 200k miles. Not an exciting car to drive but super solid with great engine and brakes. Electronics are OK but certainly not state of the art.

ready20
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Re: Buying a used car

Post by ready20 » Tue Nov 06, 2018 1:53 pm

anyone know if literature or studies done on the value on certified pre owned?

bloom2708
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Re: Buying a used car

Post by bloom2708 » Tue Nov 06, 2018 1:58 pm

ready20 wrote:
Tue Nov 06, 2018 1:53 pm
anyone know if literature or studies done on the value on certified pre owned?
The big advantage is Certified CPO usually extends the factory warranty out to (example) 7 years/100k miles.

Lightly used (but still used) with a longer than factory warranty (some greatly appreciate this) and at a lower cost than new.

Reliability of CPO cars would track right along with reliability of that same make/model.
"We are not here to please, but to provoke thoughtfulness." --Unknown Boglehead

randomguy
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Re: Buying a used car

Post by randomguy » Tue Nov 06, 2018 2:23 pm

renue74 wrote:
Tue Nov 06, 2018 11:48 am
ready20 wrote:
Tue Nov 06, 2018 11:42 am
Thanks. I am interested in the below.

1. Pre-Owned Four Door SUV
2. Most reliable, lowest anticipated maintenance costs for 5 years
3. Based on #2, would love to hear recommendations on brands and mileage, year which would best accomplish #2.

Concerning my Pathfinder comment, my last two cars have been Nissan and I just threw that out a bit too prematurely.

Example I am struggling with- should I pay the $X amount more to get vehicle with X thousands of miles less on it cause the 5 year costs will be less??

Thanks for all the help already.
I agree...I was not a fan of Nissan and the fit/finish is not as great. My in-laws have a Toyota Highlander and they love it. I can definitely see the "upgrade" when I ride in it versus our Pathfinder.

If you are keeping a car for a long time, it might be worth it to make sure you get a used car with low miles. That's what I always do....I always look for low miles and will be a little "premium" for it....because I know I'm going to put 150K miles on it myself.

Just imagine all the $ you save over your lifetime by not buying new. How many years earlier can you retire? :)
I used to have an admin assistant who would buy new cars. I asked why and she said, "that's what my family has always done." :oops:
300/year or so in savings doesn't my retirement date in much:)

randomguy
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Re: Buying a used car

Post by randomguy » Tue Nov 06, 2018 2:24 pm

GuyFromGeorgia wrote:
Tue Nov 06, 2018 11:29 am
Do yourself a favor and google "2015 Pathfinder issues" and then google "2015 Lexus rx issues". People give Lexus a hard time because they aren't flashy and performance oriented, but in my opinion they are among the most reliable cars on the road. Look 2-5 years old with under 45k miles. CPO is nice, but you're paying an extra $2k-3k for something that is built into the car (i.e. it is built to not have issues).
The google "toyota highlander" and save thousands over the Lexus RX:) There is no need to buy a luxury car to get reliability. Buy them if you value what they bring to the table.

bloom2708
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Re: Buying a used car

Post by bloom2708 » Tue Nov 06, 2018 2:29 pm

randomguy wrote:
Tue Nov 06, 2018 2:24 pm
GuyFromGeorgia wrote:
Tue Nov 06, 2018 11:29 am
Do yourself a favor and google "2015 Pathfinder issues" and then google "2015 Lexus rx issues". People give Lexus a hard time because they aren't flashy and performance oriented, but in my opinion they are among the most reliable cars on the road. Look 2-5 years old with under 45k miles. CPO is nice, but you're paying an extra $2k-3k for something that is built into the car (i.e. it is built to not have issues).
The google "toyota highlander" and save thousands over the Lexus RX:) There is no need to buy a luxury car to get reliability. Buy them if you value what they bring to the table.
The Highlander and RX 350 are not in the same size class. Highlander is a 3 row vehicle. I guess you could compare to the new RX 350 L with 3 rows.

Is the option of 7-8 passenger seating a useful option? If not, don't pay for it with weight/size/lower mpg, etc.
"We are not here to please, but to provoke thoughtfulness." --Unknown Boglehead

ready20
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Re: Buying a used car

Post by ready20 » Tue Nov 06, 2018 2:44 pm

NO need for space for 7-8 people. Never intend or for that matter want more than 4 in vehicle.

bloom2708
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Re: Buying a used car

Post by bloom2708 » Tue Nov 06, 2018 2:50 pm

ready20 wrote:
Tue Nov 06, 2018 2:44 pm
NO need for space for 7-8 people. Never intend or for that matter want more than 4 in vehicle.
Maybe spend a bit of time here:

https://cars.usnews.com/cars-trucks/rankings/suvs

See how they categorize the SUV options. Mid-size includes 3 row and some 2 row options.

Maybe something in the Compact or Crossover category would fit the bill and save some $$.
"We are not here to please, but to provoke thoughtfulness." --Unknown Boglehead

H-Town
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Re: Buying a used car

Post by H-Town » Tue Nov 06, 2018 2:51 pm

ready20 wrote:
Tue Nov 06, 2018 11:07 am
Let me start by saying- I hate cars- just have never been a car guy.
Then don't drive one. Do what you gotta to do so that you don't have to drive a car.
I am interested in buying a pre-owned import SUV- Lexus, Acura, Nissan. etc.
Why those brands specifically? Is it from heresay or from your experience?
Although no one can predict the future, I want the best combination of lowest price and warranty to include items that realistically could need costly repairs.

So the question is, what sweet spot should I be looking at in terms of mileage and age of vehicle from the board's experience?
If you're not a car guy/gal, start with a budget (let's say $200 a month) and find any car that fit into that price range.

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Watty
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Re: Buying a used car

Post by Watty » Tue Nov 06, 2018 3:16 pm

Just for brainstorming your might also compare the numbers with buying a new Hyundai Tucson or Santa Fe to your list.

They have a full five year warranty and a ten year powertrain warranty. The warranty does not transfer as a used car so buying a used Hyundai is a lot different.

I have not priced them but I would think they would cost in the same ballpark of the used Pathfinder you are thinking about.

GuyFromGeorgia
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Re: Buying a used car

Post by GuyFromGeorgia » Tue Nov 06, 2018 5:07 pm

randomguy wrote:
Tue Nov 06, 2018 2:24 pm
GuyFromGeorgia wrote:
Tue Nov 06, 2018 11:29 am
Do yourself a favor and google "2015 Pathfinder issues" and then google "2015 Lexus rx issues". People give Lexus a hard time because they aren't flashy and performance oriented, but in my opinion they are among the most reliable cars on the road. Look 2-5 years old with under 45k miles. CPO is nice, but you're paying an extra $2k-3k for something that is built into the car (i.e. it is built to not have issues).
The google "toyota highlander" and save thousands over the Lexus RX:) There is no need to buy a luxury car to get reliability. Buy them if you value what they bring to the table.
Fair Enough. I mentioned Lexus because it was in the OP. IMO, so long as you stick with the Honda or Toyota family you'll be happy and have a great vehicle.

MisterMister
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Re: Buying a used car

Post by MisterMister » Tue Nov 06, 2018 5:26 pm

I like dealing with CarMax. No haggle pricing means no haggle, and you can returned it within a short period and pay nothing if you're dissatisfied.

My recent used car purchase was a certified pre-owned Toyota. Unfortunately, this meant working with a dealership. I'll explain.

The vehicle was off-lease, 3 years old, and one-owner (not a rental company) with about 30k miles. For me, this is the sweet spot: low mileage, one owner, about three years old, and not a rental vehicle.

Those cars are hard to find at CarMax, which has a lot of former rental vehicles. But if I could find one there I wouldn't hesitate to do business with them.

The problem with buying a used car from the dealership is the same as buying a new car there : they try to get you to add coatings, warranties, you name it--anything to bump up the price of the good price you thought you would get. Major headaches. They may advertise a no-haggle price but it won't work out that way.

And yes, Toyota and Honda are good bets. I still have an older Toyota with nearly 180K miles and it still runs fine.

randomguy
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Re: Buying a used car

Post by randomguy » Tue Nov 06, 2018 5:50 pm

bloom2708 wrote:
Tue Nov 06, 2018 2:29 pm


The Highlander and RX 350 are not in the same size class. Highlander is a 3 row vehicle. I guess you could compare to the new RX 350 L with 3 rows.

Is the option of 7-8 passenger seating a useful option? If not, don't pay for it with weight/size/lower mpg, etc.
Really? So is a 192.5" Lexus smaller or bigger than a 192.5" Highlander?:) The cars are the same size. They have different number of seats because of marketing/design choices. You are paying about 10k not to get those rear seats and getting a heavier car. If you car about MPG, that 10k is more than enough to pay for the hybrid model. If you appreciated luxury, pay for the lexus. If not don't pay the premium.

bloom2708
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Re: Buying a used car

Post by bloom2708 » Tue Nov 06, 2018 5:59 pm

randomguy wrote:
Tue Nov 06, 2018 5:50 pm
bloom2708 wrote:
Tue Nov 06, 2018 2:29 pm


The Highlander and RX 350 are not in the same size class. Highlander is a 3 row vehicle. I guess you could compare to the new RX 350 L with 3 rows.

Is the option of 7-8 passenger seating a useful option? If not, don't pay for it with weight/size/lower mpg, etc.
Really? So is a 192.5" Lexus smaller or bigger than a 192.5" Highlander?:) The cars are the same size. They have different number of seats because of marketing/design choices. You are paying about 10k not to get those rear seats and getting a heavier car. If you car about MPG, that 10k is more than enough to pay for the hybrid model. If you appreciated luxury, pay for the lexus. If not don't pay the premium.
You win. I meant more about a mini-van replacement that seats 7-8 vs a 5 passenger vehicle. Thanks for looking up the vehicle length. I lose. :(
"We are not here to please, but to provoke thoughtfulness." --Unknown Boglehead

helloeveryone
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Re: Buying a used car

Post by helloeveryone » Tue Nov 06, 2018 7:09 pm

ready20 wrote:
Tue Nov 06, 2018 11:42 am
Thanks. I am interested in the below.

1. Pre-Owned Four Door SUV
2. Most reliable, lowest anticipated maintenance costs for 5 years
3. Based on #2, would love to hear recommendations on brands and mileage, year which would best accomplish #2.

Concerning my Pathfinder comment, my last two cars have been Nissan and I just threw that out a bit too prematurely.

Example I am struggling with- should I pay the $X amount more to get vehicle with X thousands of miles less on it cause the 5 year costs will be less??

Thanks for all the help already.
Since you hate cars, and are looking for a SUV consider a new 2018 Toyota RAV4. The 2019 coming out is a brand new model. Thus you might with good negotiation find a very well priced 2018 RAV4. Toyota is reliable, in the long term if issues come up they will be more affordable than luxury brands you listed. cars.com has a ton of 2018 RAV4's listed thus between a ton of them still being around, the brand new model coming out in 2019 and hitting showrooms end of this year you are in a nice position to get a good deal on one.

inbox788
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Re: Buying a used car

Post by inbox788 » Wed Nov 07, 2018 4:27 pm

bloom2708 wrote:
Tue Nov 06, 2018 1:58 pm
ready20 wrote:
Tue Nov 06, 2018 1:53 pm
anyone know if literature or studies done on the value on certified pre owned?
The big advantage is Certified CPO usually extends the factory warranty out to (example) 7 years/100k miles.

Lightly used (but still used) with a longer than factory warranty (some greatly appreciate this) and at a lower cost than new.

Reliability of CPO cars would track right along with reliability of that same make/model.
You pay for the CPO vehicle. Sometimes, so much so, that after 5 years, it might cost more than buying a new equivalent vehicle. It depends on the deal you get and the luck you have with repairs and even new cars can turn out to be lemons.

A CPO warranty might add $2500 for the cost of the used car compared to a similar one that's not certified. Maybe half the cars have minimal to no repairs. The most problematic 10% could cost you a big $5000 repair bill all at once or cumulative. Let's say the rest cost less than $1000 to repair. Do you pay $500/year extra to avoid the potential $5000 bill? What if it was more like 15 or 20%? Or as little as 5 or 2%?

If you know a little about cars or have a trusted mechanic (i.e. in the family), an older car past the warranty is going to be best value. A newer used car around the warranty expiration will be next best value, and you're better off self insuring and saving the cost of the extended warranty. On average, you'll come out ahead.

If you look at average cars with average mileage (around 12k/year) depreciating along the average curve and compare them to low mileage and high mileage vehicles, I'd expect most vehicles don't get much mileage adjustment. You'd get the most value from compensating, so if you drive a lot, get a low mileage vehicle, while if you don't drive much, get a higher mileage vehicle for age. This way, it drives the car towards the average depreciation and mileage and hopefully costing you less.

These days most cars are mostly reliable below 100k. If you must have a warranty, CPO is the way to go, but you'll pay for it and do you plan to keep it past the warranty expiration? Choose the longest warranty that covers your ownership time, which is sometimes longer than the standard new car warranty. Don't overlook getting a better deal on a new car than the CPO if they're not dealing on the used cars. New car sales is more price competitive and easier to shop around.

randomguy
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Re: Buying a used car

Post by randomguy » Wed Nov 07, 2018 8:37 pm

inbox788 wrote:
Wed Nov 07, 2018 4:27 pm
bloom2708 wrote:
Tue Nov 06, 2018 1:58 pm
ready20 wrote:
Tue Nov 06, 2018 1:53 pm
anyone know if literature or studies done on the value on certified pre owned?
The big advantage is Certified CPO usually extends the factory warranty out to (example) 7 years/100k miles.

Lightly used (but still used) with a longer than factory warranty (some greatly appreciate this) and at a lower cost than new.

Reliability of CPO cars would track right along with reliability of that same make/model.
You pay for the CPO vehicle. Sometimes, so much so, that after 5 years, it might cost more than buying a new equivalent vehicle. It depends on the deal you get and the luck you have with repairs and even new cars can turn out to be lemons.

A CPO warranty might add $2500 for the cost of the used car compared to a similar one that's not certified. Maybe half the cars have minimal to no repairs. The most problematic 10% could cost you a big $5000 repair bill all at once or cumulative. Let's say the rest cost less than $1000 to repair. Do you pay $500/year extra to avoid the potential $5000 bill? What if it was more like 15 or 20%? Or as little as 5 or 2%?

If you know a little about cars or have a trusted mechanic (i.e. in the family), an older car past the warranty is going to be best value. A newer used car around the warranty expiration will be next best value, and you're better off self insuring and saving the cost of the extended warranty. On average, you'll come out ahead.

If you look at average cars with average mileage (around 12k/year) depreciating along the average curve and compare them to low mileage and high mileage vehicles, I'd expect most vehicles don't get much mileage adjustment. You'd get the most value from compensating, so if you drive a lot, get a low mileage vehicle, while if you don't drive much, get a higher mileage vehicle for age. This way, it drives the car towards the average depreciation and mileage and hopefully costing you less.

These days most cars are mostly reliable below 100k. If you must have a warranty, CPO is the way to go, but you'll pay for it and do you plan to keep it past the warranty expiration? Choose the longest warranty that covers your ownership time, which is sometimes longer than the standard new car warranty. Don't overlook getting a better deal on a new car than the CPO if they're not dealing on the used cars. New car sales is more price competitive and easier to shop around.
Each CPO program has a different premium and benefits. Lexus for example gives you a bunch of "free" service visits which need to be factored into total cost. Some also don't have mileage limits. For someone driving 40k miles/year, getting a 5 year unlimited mileage warranty on Mercedes seems like a no brainer:)

As for CPO in general being valuable to the buyer? I doubt it. Insurance products are priced to make a profit. On average the buyer will be the loser. You might prefer to reduce the variance by getting the warranty though. We aren't talking huge mistake territory here either way.

BeTheMatch
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Re: Buying a used car

Post by BeTheMatch » Thu Nov 08, 2018 11:33 am

"Certified" pre-owned cars are a scam. Find a car on Craigslist and pay $80 to have a mechanic that you trust check it out.

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