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For decades, personal finance experts preached the golden rule: never buy a new car. The reasoning made sense at the time. New cars lost up to 20% of their value the moment they left the lot, while used vehicles offered better deals and still had plenty of life left. Lately, however, this rule has started to show its age. Used car prices have climbed so much that, in many cases, buying new makes more sense. Some buyers have even found brand-new models that cost thousands less than used versions of the same car.
Certified financial planner Tristan Blackwood said it best: the used market has entered a weird space. High demand with limited supply and the reputation of certain reliable brands have pushed pre-owned prices through the roof. In some cases, you’ll pay $3,000 more for a used car with 50,000 miles than for a brand-new one. The math just doesn’t add up anymore.
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That said, not everyone is convinced new cars are worth it. Some drivers still prefer vehicles that have already survived their first few years. One blogger who leased a 2015 Honda Fit after years of buying used found out the hard way that new doesn’t always mean trouble-free. His car came with multiple recalls, electrical quirks, and long days waiting at the service center. He also pointed out that dealers make most of their profit from repairs, not sales, which makes frequent recalls a goldmine for them.
He suggested that it’s smarter to wait until the second or third year of a model’s release. That’s when the bugs are usually worked out. His sweet spot for buying used was a five-year-old car with 50,000 to 70,000 miles. At that point, the first owner has paid for the biggest depreciation and major maintenance. Still, with used prices staying high, that five-year-old “deal” might not be as attractive as it used to be.
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According to S&P Global Mobility, the average age of cars in America is now 12.6 years. Passenger cars alone average 14 years. New cars are too expensive, with an average price tag of about $47,000. Plus, insurance rates have shot up by double digits in the past year. It’s no wonder people are keeping their cars longer.
But there’s another twist: many drivers think newer models aren’t as good. They dislike touch screens replacing buttons, complicated menus for basic functions, and cars that feel like rolling computers. Some even worry that connected tech could expose personal data.
Many longtime car owners prefer the feel of older models with simple controls and engines they understand. They’re tired of automated features that “help” you drive or cars that beep at every mistake. As one driver put it, new vehicles are reliable tools but no longer emotional.
So, is the old “never buy new” rule dead? Kind of. New cars might actually be the smarter buy if you want reliability, better fuel economy, and fewer surprises. But the key is being strategic. Don’t rush to buy a first-year redesign. Wait until the manufacturer irons out the early issues. Compare prices carefully because sometimes that shiny new model is cheaper than a used one. No matter what you buy, know that you’ll still pay for gas, insurance, and maintenance. The only rule now is to buy the car that makes the most financial sense for you, not the one that follows outdated advice.
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