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Cars: Buy new or used?

I hear people give advice both ways.

If buying used, what range is a good interest rate to look for?

 
CaseyErin

Asked by CaseyErin at 2:15 PM on May. 22, 2013 in Shopping

Level 19 (7,693 Credits)
This question is closed.
Answers (19)
  • I always buy used, any new car depreciates the minute you drive off the dealership....and yes the interest rate depends of your credit, the better the credit the better the interest rate.....
    older

    Answer by older at 2:51 PM on May. 22, 2013

  • depends on the used car - make, model, year
    depends on the mileage
    depends on the history of the car

    new is a definite automatic financial loss as soon as you drive it off the lot, however, there are definite advantages as well.

    What are you buying?
    daylily888

    Answer by daylily888 at 2:19 PM on May. 22, 2013

  • as for interest rate - it largely depends on your credit score and credit history. Get the lowest possible rate you are offered.
    daylily888

    Answer by daylily888 at 2:20 PM on May. 22, 2013

  • The lowest you can get. Decide on what makes you like, go to the Dealerships & see what interest rate Specials they are offering.
    ILovemyPaulie

    Answer by ILovemyPaulie at 2:18 PM on May. 22, 2013

  • New for me, used for my husband. I drive the family vehicle and take care of it. My husband beats the hell out of his cars and replaces them often. I bought mine new 7 years ago and it still looks new. I like it to be under the original warranty and I like knowing that no one has beaten it up before me. With my husband's car, it doesn't really matter.
    JulieJacobKyle

    Answer by JulieJacobKyle at 3:44 PM on May. 22, 2013

  • When car shopping, look online for consumer safety reports on the vehicles you are interested in.  If you go used, get the carfax report. Personally, I like to get new or if used, from someone we know who took good care of the vehicle.

    mrsmom110

    Answer by mrsmom110 at 2:24 PM on May. 22, 2013

  • i'd only buy new if i could afford to pay cash for it on the spot
    butterflyblue19

    Answer by butterflyblue19 at 2:31 PM on May. 22, 2013

  • We have great credit and have always got a used car loan rate of 9%. I have a new car now at 0.9%.

    A lot depends on your credit, how many years you want to pay, and how much you put down.

    DH always buys used. I've bought my last 2 cars new because it is the main family car and we want a clean slate.
    anng.atlanta

    Answer by anng.atlanta at 2:40 PM on May. 22, 2013

  • Depends on how much cash you have on you. Buy what you can afford to buy outright, no debt! Personally I much prefer a 1-2 year old car because they depreciate so much when you drive them off the lot, but they still have a warranty.
    missanc

    Answer by missanc at 2:41 PM on May. 22, 2013

  • Used
    skinner

    Answer by skinner at 2:45 PM on May. 22, 2013