Cons for buying used/pre-owned?

[Trixie86]

Something similar, I got a new 21 in Feb of 22. It had been sitting on the lot for some unknown reason. (Well that is what they told me and maybe I don't want to know why) so when they were charging well over sticker, I got mine for under sticker. the year on the title did not make any difference to me, so I grabbed it up. It was the warranty I was after and there was no difference in the 21 or 22 that I could tell.
I have not had any issues with it so far, but I only put about 5,000 miles on it.

Ha, I also bought my 21 in Feb 22. There is no difference. Untitled? 10 yr. warranty?

 

[EdP]

I was fortunate to buy my current G90 new (untitled) as a demo. VPs car. The clock started on the day I bought.

Deals like that are really good. Smart move.
I have a friend that could buy any car in any showroom but prefers to buy used after the big depreciation hit. She always wants the big V8 too and uses it well.
Cars today don't rust away like in the past so a couple of years is not a concern.

 

[Trixie86]

Deals like that are really good. Smart move.
I have a friend that could buy any car in any showroom but prefers to buy used after the big depreciation hit. She always wants the big V8 too and uses it well.
Cars today don't rust away like in the past so a couple of years is not a concern.

I got lucky with this one. However, buying a new car off the floor room has an appeal to it. Just not financially. I've done both. Pretty soon used will be the only way to buy a V8 or ICE vehicle. Moment of Silence!

 

[carguy75]

My take on the used vs new car purchase is that both will cost a buyer money in some form of fashion. New cars will cost buyers usually a down payment( $500-2000) in addition to a monthly payment($500-700).

A used car will usually need some type repair work in addition to a monthly car payment. The monthly payment will usually be less than what is paid on a new version of the same car, but the repair cost and maintenance cost may offset the savings.

It seems to come down what type of risk a buyer is willing to take. Used cars can have hidden histories that can negatively affect the ownership such as hidden and unknown repairs that may have been poorly done that could lead to leaks, noises, and other failures that occur soon after a person buys the used car or the issue may occur a few years down the road when most aftermarket warranties expire if the owner even purchase one. However, a buyer could get the used fully optioned out models of a car for less money than when new.

New cars will just depreciate in value and be worth less than half the purchase price most of the time before a loan is even paid off. However, the owner would not have to pay for any random mechanical issues out of pocket for 10 years when buying a new Genesis due to it being covered by a factory warranty. Furthermore, most new Genesis will not need much maintenance type of repairs until about time the car is outside the warranty period. Those type of repairs generally falls on the second hand owners.


There are pros and cons for both type of buyers; so no one is actually better than the other for all buyers.

 

[Trixie86]

My take on the used vs new car purchase is that both will cost a buyer money in some form of fashion. New cars will cost buyers usually a down payment( $500-2000) in addition to a monthly payment($500-700).







A used car will usually need some type repair work in addition to a monthly car payment. The monthly payment will usually be less than what is paid on a new version of the same car, but the repair cost and maintenance cost may offset the savings.







It seems to come down what type of risk a buyer is willing to take. Used cars can have hidden histories that can negatively affect the ownership such as hidden and unknown repairs that may have been poorly done that could lead to leaks, noises, and other failures that occur soon after a person buys the used car or the issue may occur a few years down the road when most aftermarket warranties expire if the owner even purchase one. However, a buyer could get the used fully optioned out models of a car for less money than when new.







New cars will just depreciate in value and be worth less than half the purchase price most of the time before a loan is even paid off. However, the owner would not have to pay for any random mechanical issues out of pocket for 10 years when buying a new Genesis due to it being covered by a factory warranty. Furthermore, most new Genesis will not need much maintenance type of repairs until about time the car is outside the warranty period. Those type of repairs generally falls on the second hand owners.











There are pros and cons for both type of buyers; so no one is actually better than the other for all buyers.

I guess in my mind it's depreciation vs warranty.

 

[carguy75]

I guess in my mind it's depreciation vs warranty.

Fair comparison.

A used Genesis is less expensive due to its depreciation of value than when it was new; which generally means a better deal on the purchase price.

Yet, a new Genesis under warranty give the buyer a sense of security and ease of ownership due to the vehicle being covered by a warranty that handles any or most reliability issues for 10 years/100k miles, which is worth the extra cost to most buyers who do not want to deal with older car related issues or breakdowns out-of-pocket.