How Many New Cars Do People Actually Buy?

[FriscoTXJoe]

I see posts of people trading in 2020 and 2021 models for their Maverick. Or planning to sell them. And yes, I know the used market had absurd prices but that seems to have settled a little so maybe that's not as big an incentive now? Anyhow, how often do you buy a brand new car?

I ask because I haven't bought brand new in 27 years. Always slightly used to let someone else take the major depreciation hit. (I know that has temporarily changed over the last almost 2 years.) But the Maverick is so cool, so versatile and priced so cheaply, I had to order one. (It's great when kids graduate college , get employed and get off the payroll.)

So do people actually go upside down on loans, roll them into a new vehicle, have monthly payments of $500 or more or is everyone else like me and saving up to pay for the car without having to pay interest? Or take advantage of the 0% financing?

Long, rambling question(s). Hope that makes sense.

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[Egz]

Will be number 5 for me in 20 years. (I've also had my share of used cars) I did have a bad rush of car ADD and rolled over more negative equality than I should have. But the current car is paid off, and would like to take advantage of the higher trade-in values.

01 Focus, 03 Focus, 14 Fiesta, 16 Fusion

 

[skadizzle]

I see posts of people trading in 2020 and 2021 models for their Maverick. Or planning to sell them. And yes, I know the used market had absurd prices but that seems to have settled a little so maybe that's not as big an incentive now? Anyhow, how often do you buy a brand new car?

I ask because I haven't bought brand new in 27 years. Always slightly used to let someone else take the major depreciation hit. (I know that has temporarily changed over the last almost 2 years.) But the Maverick is so cool, so versatile and priced so cheaply, I had to order one. (It's great when kids graduate college , get employed and get off the payroll.)

So do people actually go upside down on loans, roll them into a new vehicle, have monthly payments of $500 or more or is everyone else like me and saving up to pay for the car without having to pay interest? Or take advantage of the 0% financing?

Long, rambling question(s). Hope that makes sense.

This will be my fifth car. The last two I purchased new. I know a lot of people say that used saves money, but only if you buy it several years old. If you are looking for 1 year or 2 years old, you would be better buying new because of the incentives. Of course, it today's market you are paying MSRP, but the used prices are so high. I kept my last one 5 years before trading it in as I wanted to wait until there was a profit in it. My current vehicle is a 2018 Rav4 that I purchased new for $22k. CarMax and Carvana are offering $24k to sell it to them, $2k more than I paid for it 3 1/2 years ago. That was the main incentive for me to get the Maverick now. I can get a fully loaded Lariat hybrid, trade mine in, and have a 4 year payment that is less than my current 75 month payment. It was a no-brainer. I hated my Rav4 since I got it because I only get 20-25 mpg and about 320 miles on a tank.

 

[Bushpilot]

At 58, this is my first new one, probably will be last as well. I hope if I ever have to replace it, I will find good deals on used vehicles again.

I have never been upside down on a vehicle loan, as I have never borrowed to buy a vehicle. I might on this one, if I can get the 0% financing, otherwise it will be a cash purchase.

 

[7Litre]

We traded in our 2016 Sonata Hybrid for a 2020 Sonata Hybrid, bought it off the lot with a $5000 dealer reduction. That was just over a year ago and before the markets got really crazy. I figured we were good to go for the foreseeable future. Then my 2001 failed inspection, the frame is melting away. Can't find a decent used truck in Maine for less than $30,000. When I stumbled upon the Maverick, my wife handed me the checkbook and sent me off to the dealer. At my age, I'm counting on these vehicles to get me pretty close to the finish line. But would I buy another new one? Having waited to enjoy that new car smell for most of my life, the answer is yes.

I like to forget having bought a 1988 Dodge Aries station wagon new off the lot. It served a purpose after my 1980 Rabbit diesel got a warped head and my 1978 gasoline Rabbit's electrical system shorted out. Tough times.

 

[rustru]

I see posts of people trading in 2020 and 2021 models for their Maverick. Or planning to sell them. And yes, I know the used market had absurd prices but that seems to have settled a little so maybe that's not as big an incentive now? Anyhow, how often do you buy a brand new car?

I ask because I haven't bought brand new in 27 years. Always slightly used to let someone else take the major depreciation hit. (I know that has temporarily changed over the last almost 2 years.) But the Maverick is so cool, so versatile and priced so cheaply, I had to order one. (It's great when kids graduate college , get employed and get off the payroll.)

So do people actually go upside down on loans, roll them into a new vehicle, have monthly payments of $500 or more or is everyone else like me and saving up to pay for the car without having to pay interest? Or take advantage of the 0% financing?

Long, rambling question(s). Hope that makes sense.

Considering the debt situation in this country, I would say yes, most people just trade, roll in negative equity and extend the payment without a care in their mind. I am in the same situation as you, slightly younger. I buy/trade often but with used, clean vehicles (current ride is 04 Lexus GX). I plan to at minimum pay half down and finance the difference on 0% at 38 months. Me and debt don't get along!!

 

[NotAnonymous]

The Maverick will be the 2nd new car in over 30 years of driving.

 

[Meintc]

I've nearly always bought used. I purchased a new vehicle at a used car place. Almost got the owner in trouble for that. Then in 2016 my Focus needed major repairs, so went to our Ford dealer and got a good price on a lease vehicle. Did the same when that lease ended and leased a 2018. Now this lease is up and I saw this Maverick and said I need this. So this will be my first "new" car ever bought. Even though my leased vehicles were new, I didn't own them.

 

[MavrickEcoBoost]

18 Edge, 19 Ranger, 22 Maverick.

18 Edge to 19 Ranger was negative equity. -3,000
19 Ranger to 22 Maverick is positive equity. +6,000

 

[villageidiot]

i buy a new car, on average, every 11 months, and have every year since 2003


dont even ask about my motorcycle habit.

 

[Meintc]

The Maverick will be the 2nd new car in over 30 years of driving.

My "second" in 43 years.

 

[Maverick_50568]

This will be my 1st new vehicle purchase; I have always bought used. I usually purchase something 7-10 years old for myself and something 3-5 years old for my wife. I am selling 2 used vehicles when I get my Maverick. I have an '11 Chevy Volt that is my daily driver for fuel economy and an '01 Sport Trac that I bought cheap to be able to haul odds and ends.

 

[skadizzle]

i buy a new car, on average, every 11 months, and have every year since 2003


dont even ask about my motorcycle habit.

Are you replacing the one you bought the year before each time or have 2 or 3 that you rotate? I assume you are paying cash each time or it would seem like you would have $50k in negative equity backloaded.

 

[Murphie]

I'm 70, my first car was used. Since then, except for buying a used 2000 New Beetle, all my cars, and my wife's cars have been bought new. Call it a guilty pleasure - but we kept each of them for a minimum of 5 years. The longest I kept one was my 1978 Chevy pickup - I kept that 18 years.

 

[marpolsdofer]

I did not think I would ever buy new, never would have imagined 2 new vehicles in year well 1.5 by the time it comes in.
First car but not mine was a 1969 Ford LTD when I was in High School that would be 04-07. Well it was my dads but when I left for college he did not want to give it. So I bought a 93 Toyota Corolla in 07 had to get a loan for like $2000 to pay for it. I used it to haul my snowmobile to races and junk in the trailer. Wrecked it in 2010 I think. Next car was a 96 Geo Prizm paid $300 for it swapped engines and trans because the engine was blown. My engine from my old car just happen to fit it. I used the car up until 2019. I uses it a lot for hauling stuff in a trailer, liked the sound system
I put in and my alt was a H.O. so I was able to jump start my semi. In 2019 I got a 95 Dodge Dakota for my 2nd (now primary) job for $25. Long story short on that needed some work but not much.
I use a lot for my job but the car for long distances. Both vehicals have over 200k on them.
I learned about the maverick month ago and thought to my self hey this can do the job of my truck and car. Now my truck bed is way longer and can pull more weight but I still have my trailer and if I need more power I got other pickups I can barrow.
I was planing on waiting then news broke about it being sold out so I knew the next few year would be crap.

My wife car was a 04 Chevy Malibu that we bought on 2014 for $200 needed a lot of work. In Jan of this year my wife wanted to replace it because it had a lot of issues. We looked in to buying used for Camry but we wanted 2018 or newer because of the tech in them, had better MPG and better trans then the old models. We ended up leasing a brand new one then we don't have issues with it from the prior owners. Scraped the old car at 220k.

Now my wife's son is coming here from Russia at the age of 17. He will need a car so he will get one of mine. I also like having more space to take things to events like paintball. When we went to out of state to play all my stuff took all the room in the trunk. That is just me playing with my wife tagging along.

So with my step son getting on of my vehicles, age of vehicles I have, bad MPG of the truck, one of my vehicles always sitting I just said I think I need this. As time goes on I got a lot of stuff to due at home and work I will enjoy not having to work on our vehicles for several years.

Plan on keeping them for 15-20 years for as long distance as they will hold up. Unless the I keep getting stuck with the mav and need AWD or 4x4.

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