How Many New Cars Do People Actually Buy?

[Rob Cactus Gray]

This is my 3rd new car. All the cars I’ve owned in order below. I’ve never rolled negative equity over. I don’t like buying new cars but the Maverick Hybrid is calling my name.

1991 Dodge Spirit - totaled in hit and run
NEW 2005 Nissan Sentra - leased car. Terms ended and I hated the car.
2003 Kia Rio - transmission started to go and hit a deer
2008 Nissan Altima - X wife totaled it
2003 Chrysler Sebring - Started on fire. I didn’t really want it after that
NEW 2014 Ford F-150 - I got such a bargain price I actually ended up
Breaking even after driving the crap out of it for a year and selling it. I LOVED IT it was my favorite vehicle but gas cost to much
2011 Prius - I’ve had this for 6 years and I’m been sick of it for 7.
NEW 2022 Ford Maverick - I plan to keep it for as long as possible. I’m really sick of getting new vehicles.

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[Dnahwols]

73 yrs old, bought & sold over 40 cars, trucks and motorcycles. Made money, lost money. Six were new, last new one was 2011 Wrangler.

 

[rupzuk]

I used to buy used, fix them up and flip them after a few years before anything expensive happened.
But it costs more now to do that, the cars are less repairable, I’m older and now make more money so the last ten years and for the foreseeable future I drive it until it’s paid for then flip it which is around 5 years, a lemon is gone almost instantly…Although I’m looking at keeping my current car as a spare.

 

[MaverickTime]

Toyota Tercel
Toyota 4 runner
Volkswagen Golf
Volkswagen Rabbit
GMC Acadia
Honda Civic
Ford Maverick
All purchased new and financed for 4 yrs and an equal amount of used vehicles bought outright in cash.
Will not ever buy a used car after buying new. Like the piece of mind a new car gives you, and my stellar credit always got me great finance rates.

 

[Wnbasac]

Wow, not sure I qualify to answer this. Both my Wife and I retired from AHMC and one sweet perk was employee lease. We both and our kids drove new cars every year both Honda and Acura models. Every 10 months we ordered a replacement model for a very low payment that included 100% Ins and maintenance . We did this for 45 years with an option to purchase with a very generous discount. Which ( family & friends ) took advantage of. 2020 was the 1st. Time we actually purchased a new fully loaded Honda CRV …. The maverick will be the 2nd new vehicle . Yes some sticker shock , hell our CRV was out the door for 17K…. It is what it is….

 

[Rob Cactus Gray]

Wow, not sure I qualify to answer this. Both my Wife and I retired from AHMC and one sweet perk was employee lease. We both and our kids drove new cars every year both Honda and Acura models. Every 10 months we ordered a replacement model for a very low payment that included 100% Ins and maintenance . We did this for 45 years with an option to purchase with a very generous discount. Which ( family & friends ) took advantage of. 2020 was the 1st. Time we actually purchased a new fully loaded Honda CRV …. The maverick will be the 2nd new vehicle . Yes some sticker shock , hell our CRV was out the door for 17K…. It is what it is….

I am having a tough time believing $17k for a new fully loaded Honda CRV. Considering the base CRV MSRP is $26k, but good for you.

 

[atomguy245]

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.

There are different philosophies when it comes to buying cars. You buy used. Some buy new but keep them until they die (my sister's bought a '94 Civic new and kept it until 2011 when she bought a new Kia that she still has today). But many people do buy cars frequently and roll over the negative balance onto the new car, expanding their payment and extending the payment terms each time. Which is partly why the average payment is over $500 these days, and 84 month loans are common. It's insanity. Only a small fraction of buyers see up in advance, then pay cash. Too much of an immediate gratification culture these days.

 

[eRay]

I buy new and drive them for about 10 years. At 70 years old I have bought 14 new ones.

 

[Wnbasac]

I am aging a tough time believing $17k for a new fully loaded Honda CRV. Considering the base CRV MSRP is $26k, but good for you.

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