I'm looking to buy my first car. All the advice I've gotten about buying cars doesn't seem to match the current car market. I've been told to look at buying used cars (never new) that are around 2-3 years old, around $20k to avoid buying a lemon but also to get a good car that doesn't break the bank. Well that doesn't seem to be possible these days.
It seems that cars 2-3 years old somehow cost more than the brand new models of those cars. And the average price of used cars is around $30k now, not 20k.
At this point should I ditch old conventional wisdom on the topic and search for new cars or ones that are 10 years old? Any tips on how to go about shopping in this weird car market? Not sure what I should be expecting anymore.
buying used cars (never new) that are around 2-3 years old, around $20k to avoid buying a lemon
Buying a used doesn't mean you won't get a lemon or a problematic car. Actually I prefer buying new because I now I'll be the owner from day one and I will be maintaining it myself. And if you ever have any issues with a new car (it becomes a lemon) there is always the lemon law there.
At this point should I ditch old conventional wisdom on the topic and search for new cars or ones that are 10 years old?
If you're buying something you plan on keeping for a while then definitely go new; it'll be worth it.
Any tips on how to go about shopping in this weird car market?
I'll include the links to two separate posts on buying a new car in this market.
https://carkiller.com/scottykilmer/qa/how-do-i-buy-a-new-car/#post-227068
https://carkiller.com/scottykilmer/qa/how-do-i-buy-a-car-part-2-nuances-of-financing/#post-227913
Well, if you have the money ney and you want to keep the car for as long as possible, getting a new car is not a bad idea in this market.
On the other hand, getting older cars, if you can find a good one, can save you lots of money (compared to buy a brand new).
How many years old/ how many miles is a good threshold for looking to get a used car?
It used to be recommended to get used cars around 3 years old, which used to be the sweet spot, but those are overpriced now. Is a car 10 years old going to be too fussy maintenance-wise? Is it worth spending your money on a new car, as opposed to "saving" money by buying a 10-year-old car and then later having to spend that difference on maintenance?
I guess what I'm asking is, do you know what the new 'sweet-spot' is for the range of years and miles on buying a used car now?
It all depends on the car manufacturer quality and how well the car was maintained. Search for first cars on this forum for more information.