buy new or used

my wife has a new job, will drive upwards of 600 miles/week local
travel.

current car is not a honda

we know better now.

Considering a used civic or a new hybrid civic. Could anyone suggest
which might be more economical

if we financed car, it would be for 3 years (or less). The hybrid we
saw yesterday was around $25000k in cincinnati.

 

Used Lexus. Cheap, and will hold up tremendously well. Will also be
tremendously comfortable.

The important point is, the Lexus will depreciate faster than a
Honda--which means either (a) you get a better car than a Honda for the
same money, or (b) you'll get the same quality car as a Honda for less
money.

Don't buy a new car for this kind of thing. The depreciation will kill
you. It just doesn't make sense.

 

hybrids arent worth it, especially on the highway. get one because you
WANT one, not for the mileage you (likely wont) achieve. or for the
carpool privileges

best bet would be something new, small, and gas-powered from honda or
toyota. civic, matrix or corolla.

even better mileage wise would be a toyota yaris or honda jazz, neither
of which is out yet. then theres the scion xA or xB...

the scions and yaris use a 1.5l w/VVTi, and get upwards of 40mpg on the
highway.

 

peace of mind. if youre starting out with a 0 mile car and taking care
of it, youll know itll last. depreciation isnt really a factor if youre
going to use the car up anyway.

 

depreciation on a civic is insanely low, or at least, it is here in the
bay area. on the dealers lot, a used civic with 30k on the clock is
often within $5k of a new sticker. that's nuts. in that case, buying
new is the only way to go.

adding to that, i drive an 89 civic. depreciation on that in the last
year has been negative - prices have gone /up/ due to it's economy with
increasing gas prices!

 

Mileage-wise there's the VW diesels, but that's all one can say about
VWs.

(sigh) imagine if Honda sold a diesel engine car here...

 

new honda> IMO.

 

I just traded in a 2003 Civic with 18,302 miles and the dealer is
asking $14,000 for it. For not much more you could buy a new one. To
save any real money on a Honda you need to go +5 years old.

 

Used is always more economical. Just make sure you inspect the car carefully.

 

Yes--even with Accord.

Same goes for Toyota.

But for some reason, the Lexus ES--same size as Camry--depreciates
FASTER.

So you buy used, get a *great* deal, AND you get a car that's built
better than either Accord or Camry.

 

I appreciate the opinions. I was referred here from
misc.financial.planning

I'd like to see the numbers more than just read opinions.

I have priced the civic hybrid at $25,000
what does a gas civic cost new?

is their a mileage comparison based on experience?

if car is going to be used for lots of traveling, why would I want a
Lexus or other car which depreciates quickly?

we do plan to drive car for YEARS. preferably 10-15.

 

Which model?

If the car is going to be used for traveling, you don't want to pay the
premium to get a hybrid. Hybrids do their thing in stop and go city
driving. Highway traveling, the hybrid offers nothing.

If you're buying new, you're right--don't get a Lexus that depreciates
quickly.

On the other hand, a 2 to 5 year old Lexus is a far, far better value
than a new Honda or Toyota. Someone else has already taken that huge
depreciation hit, but the car is still a superior piece of work than
even its Toyota cousin.

If you plan to keep the car for 10 to 15 years, depreciation isn't an
issue. You want build quality, period. Lexus is it--but not far behind
are the Toyotas and even the Hondas.

My nephew is driving my 92 Civic Si. It now has 140K on the clock, it's
on its original clutch, and it drives great. Looks great, too.

On the other hand, you might look very closely at the Hyundai. 10 year
warranty and, frankly, they're the new Honda. They've done over the
past 15 years what Honda did over the previous 15 years--came from
nowhere, got a lot of snickers, and now are pushing the big boys around
a bit with respectable cars.

GM and Ford snickered at Honda once, and look at them. Honda and Toyota
had better not snicker at Hyundai, lest they be forced to eat crow.

 

Camry = Lexus ES . Just take a peek at the chasis and engine and this is
easy to see. The Lexus will have some more options, but that's about it.

Smart move.

 

So does the same thing applies for Acuras? Do they have better build
quality but yet faster depreciation?

Kevin

 

Try carsdirect.com and edmunds.com if you are in the US.

If you are buying a used car, fast depreciating cars tend to be
cheaper than slow depreciating cars. Though Lexus models might
not be that economical fuel wise, which may be a concern if you
drive a lot.

 

Be careful about "new car depreciation". Much of the "new car
depreciation" is the difference between dealer retail and trade-in
values, so the amount you save by buying used is less than the amount
you lose by buying new and then trading in.

Why would it be superior in any way other than added luxury features?

 

So does the same thing applies for Acuras? Do they have better build
quality but yet faster depreciation?[/QUOTE]

Less so.

 

Not *quite*. Built in a different plant--built in Japan, in fact--and
the quality control for the parts and materials is incredibly higher
than that of Toyota.

While Toyota might allow a failure rate of 150 pieces per million, Lexus
allows 15 per million. Or whatever. The point is, the parts *aren't*
the same.

And yet it depreciates FASTER than the Camry.

Go figure.

 

Why would it be superior in any way other than added luxury features?[/QUOTE]

Different plant and different parts being managed differently with
different acceptable failure rates.

The supplier can't afford to peddle prone-to-fail components to the
Lexus side of the house.

 

Consumer Reports Reliability records for 4 cyl. Camry and ES are
different which indicates that CR decided not to just lump them
together. The records are similar and both very good overall. The ES
is much better on suspension, engine and cooling and somewhat better
in a few other areas, The Camry has better transmission reliability
and brakes. A clear quality difference but both cars are really at
the top of the game.

Comparing ES with 4 cyl. Accord is a closer match than with the Camry.
The ES is better on transmission, exhaust, and maybe slightly better
in a few other areas. Accord is better on brakes, suspension and
maybe electrical. In most areas, it's a toss-up.