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What's the best way to own a car, in your opinion?

JHunter14

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There seems to be 6 main schools of thought on this, and I don't think there's a right or wrong answer. Obviously, you tailor your purchases to fit your needs. That being said, what seems to work the best for you, over all of the years you've owned cars?

1) Lease - i.e. my brother; pay the depreciation for 3 to 5 years and turn it in when you're tired of it and want something else.
2) Buy new, sell when the warranty is up - usually 4 to 7 years of ownership. When the warranty ends, make it someone else's gamble.
3) Buy new, sell it after ~10 years - after 10 years it's time to move on while it still has some value, sell it and let's get something else.
4) Buy new, keep it until the wheels fall of and it's worth $1,800 - i.e. my dad; still drives a 1995 Dodge Ram 2500 he bought new in December of '95, has almost 400,000 miles and isn't worth jack (and might die any day).
5) Buy 1-4 year old CPO car, feel it out until the warranty is up, sell or keep it depending on how much you like it.
6) Buy used, never new - buy a 2nd hand car, keep it as long as you want and then sell when you're tired of it or it won't run anymore.
 
I’ve been in the school of buying slightly used 2 to 3 years old and then driving them until the wheels fall off. You have to keep your fleet staggered though or all the wheels fall off around the same time. We’re a family of 4 drivers but have 7 vehicles between us. 4 daily drivers 1 diesel pickup, 1 spare sedan ( just haven’t sold it yet) and 1 classic.
 
Neither my wife or myself have ever purchased a brand new car. Always used. But we are in a spot where we can afford something new and feel comfortable with it. So we are actually going all in and having it built to how she wants it. It won't be here until closer to the end of the year (the new Bronco) but that will give me time to make peace with the sticker shock.
 
All depends on how much money you want to lose in depreciation. I wont finance a car to start with, but sometimes you have to for one that's reliable enough for your needs.

Personally I go by mileage & condition as much as anything. Set my budget, then go find what I think's the best value at or below that.

With the new tax up front when you register, constant buying and selling can get expensive.
 
Neither my wife or myself have ever purchased a brand new car. Always used. But we are in a spot where we can afford something new and feel comfortable with it. So we are actually going all in and having it built to how she wants it. It won't be here until closer to the end of the year (the new Bronco) but that will give me time to make peace with the sticker shock.

My first new one was an early 30th bday present to myself and I'm stuck between drive it until the 8 year 150k warranty is up, or drive until it won't run. I'm at least going to run the warranty out, and if it's still going strong (should be, I've maintained it to a T), keep it for 20 years until it has 250k+ on the odometer.
 
I bought my truck new in 2014 and have had no issues and I'm at 100k. When I bought it, I sold my car that was paid off. People tell me I should have kept it because what happens if the truck breaks down. I told them I then go back and buy a reliable one! :)

Buy a reliable car whether it is new or used.
 
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