What did you Pay for your 1st New Car, make and year.

[Indrid Cold]

I had a long debate with my sister n law (CPA) over the merits of buying new vs used and finance vs cash.

Her general feeling which I agree with...a quality used car is a better investment than a new lessor quality car just about 100% of the time. Cash vs finance...she was kinda on the fence...pay interest on a depreciating asset...not good...pay cash for a depreciating asset...not good either. When pressed to get off the fence...she said that if you have the cash and you're not going to be cash poor after the purchase...cash is best.

I've owned about 8 or 9 vehicles...the 1st 4 were all new, all financed...I paid off 3 of the 4 and the 4th the insurance company paid it off (totaled)...surprisingly...I had a $4000 cash windfall...added my gas guzzling SUV which got a whopping $3500 in trade and put that down on 2 used cars.

I think buying used generally makes more sense financially, I just have an emotional want/need for cars to be "mine" and don't feel like I'm really wasting too much money because I generally keep them for about 8 years. I am very suspicious about any used car that is only a year or two old, worried about picking up a lemon that somebody is just desperate to get rid of...I would have to know for a fact that the buyer just couldn't make the payments or bought the wrong type of vehicle for them (i.e., it would have to be from a friend or coworker).

 

[Indrid Cold]

My very 1st car was an all time classic. A 1980 Ford Escort...no power steering or FM radio. The cost: $1.75.

You got ripped off!!!

 

[Wamu]

You got ripped off!!!

Yep!

 

[ATL96Steeler]

I think buying used generally makes more sense financially, I just have an emotional want/need for cars to be "mine" and don't feel like I'm really wasting too much money because I generally keep them for about 8 years. I am very suspicious about any used car that is only a year or two old, worried about picking up a lemon that somebody is just desperate to get rid of...I would have to know for a fact that the buyer just couldn't make the payments or bought the wrong type of vehicle for them (i.e., it would have to be from a friend or coworker).

Financially...agreed...my wife likes new cars because of the maintenance cost/warranty. The only cash she wants to spend aside from the note is gas, change the oil/filter, wipers, etc.

Both are the recent cars were 2009, both coming off 3 yr leases with under 30k mi and based on when they were purchased originally, 1 had 15 mos and the other 16 mos of the new car warranty remaining...on hers I purchased another 2 yr factory warranty.

The difference is purchase price just made it a no brainer...at the time, a new 2012 Infiniti G37 was $35,000 with the same feature pkg as mine...I paid $21,500 (listed for $22,750) for a 3 y/o version of the same car. I know most of the depreciation happened in the 1st year, but over $13,000 in 3 yrs, is a lot of money.

 

[Indrid Cold]

Financially...agreed...my wife likes new cars because of the maintenance cost/warranty. The only cash she wants to spend aside from the note is gas, change the oil/filter, wipers, etc.

Both are the recent cars were 2009, both coming off 3 yr leases with under 30k mi and based on when they were purchased originally, 1 had 15 mos and the other 16 mos of the new car warranty remaining...on hers I purchased another 2 yr factory warranty.

The difference is purchase price just made it a no brainer...at the time, a new 2012 Infiniti G37 was $35,000 with the same feature pkg as mine...I paid $21,500 (listed for $22,750) for a 3 y/o version of the same car. I know most of the depreciation happened in the 1st year, but over $13,000 in 3 yrs, is a lot of money.

G37...nice ride!
I sat in a G35X just for fun while looking at SUVs and there was no way I could have driven that on a daily basis.., but, I did drive a friend's 350Z about half the time on a weekend trip and was able to tolerate it, think the fit was similar. Was surprised that I wasn't more impressed with the Z's performance, but it really held the road well.

 

[ATL96Steeler]

G37...nice ride!
I sat in a G35X just for fun while looking at SUVs and there was no way I could have driven that on a daily basis.., but, I did drive a friend's 350Z about half the time on a weekend trip and was able to tolerate it, think the fit was similar. Was surprised that I wasn't more impressed with the Z's performance, but it really held the road well.

Thanks...I'm just too big (tall, but I can afford to drop 20...lol) to comfortably get in and out of a Z car...I have a sedan...performance wise it slots right in between the 328i and 335i...but reliability (compared to BMW turbo engines) and repair cost are just so much lower with the G.

Cosmetically I like the G35 coupe better than G37 coupe...talking automatics here, but the G with the 3.7 engine got an upgraded transmission...some people say the 3.5 engine was better but the transmission match with the 3.7 is much smoother and retains the low end torque better....not a good as the bimmer trans, but fewer headaches.

 

[Yankee Traveler]

First car.
1973 Ford Torino 2 door. 302 auto for $200.

First new car.
1989 F150 4X4 rebular cab, 302 5 spd. $11,000.

 

[outofyourmind]

First car.
1973 Ford Torino 2 door. 302 auto for $200.

First new car.
1989 F150 4X4 rebular cab, 302 5 spd. $11,000.

 

[Yankee Traveler]

View attachment 17474

Ahh...No.

Not the fastback.
Red with white vinyl top and white (ish) interior.

More of a beer stained interior.

 

[outofyourmind]

Ahh...No.

Not the fastback.
Red with white vinyl top and white (ish) interior.

More of a beer stained interior.

 

[BigKen]

Traded 1970 Torino GT for a brand new 1972 Torino GT....Sticker price $3313.00 got $700 for the 70 even with a cracked block from burning 115/145 Avgas.

 

[Yankee Traveler]

View attachment 17482

Yeah, just like that...

 

[outofyourmind]

Forgot to put a picture with it.
6.6 Liter 400ci/400TurboHydromatic

Just to show you how badly emissions controls messed with US auto makers in the '70s...that 400 ci V8 in the '77 Grand Prix only made 180hp. The same sized Pontiac engine in the late '60s made 350hp.

I took care of the Horsepower deficiency in short order.
I loved that car.

 

[rjshull]

My first new vehicle was a 95 F250 4x4, supercab, diesel, with a knapheide utility bed and I ended up paying about 30,000 for it as a Sophmore in HS that I used for my dad's plumbing and hvac company as a service tech.

I have never bought a used car, and I don't understand how anyone would purchase a used vehicle when you can get very reasonable payments on a lease.

 

[Center Ice]

First car.
1973 Ford Torino 2 door. 302 auto for $200.

First new car.
1989 F150 4X4 rebular cab, 302 5 spd. $11,000.

YESSIR!! First car was also a 1973 Gran Torino with a 351 engine. Great car! Paid $1600 for it.

 

[Yankee Traveler]

My first new vehicle was a 95 F250 4x4, supercab, diesel, with a knapheide utility bed and I ended up paying about 30,000 for it as a Sophmore in HS that I used for my dad's plumbing and hvac company as a service tech.

I have never bought a used car, and I don't understand how anyone would purchase a used vehicle when you can get very reasonable payments on a lease.

Because after the lease you have nothing but the opportunity to start all over again.
Not everyone has daddies HVAC company to finance them.
Some kids have a father that died in a plane crash and a mom that busted ass just to keep them in clothes.
You wouldn't understand because you never had too.

 

[rjshull]

Daddies money? Please, yes I have a dad who owns his own HVAC company, and yes at the age of 10 I was learning a skill that allowed me to purchase a truck for my self as a 16 year old kid. The payments came out of my checking account not his. Also my money did not come from my dad, that would be my great grandfather that started a fortune 500 company, and I have never once touched the money that I was given, I have always busted my ass because I am not satisfied with what I had yesterday, I want more.

And yes every single person has the possibility of getting a lease, the commercial I just saw was for a 2016 Camry for 160 a month, for a 30,000 or so vehicle. A lease for a 2016 F150 4x4 ecoboost is about 250 a month and that is for a 50,000 truck. The same person that is spending 10,000 for a used vehicle that is going to need tons of money to maintain should consider a brand new lease that is under warranty and will require zero to maintain.

 

[outofyourmind]

Forgot to put a picture with it.
6.6 Liter 400ci/400TurboHydromatic

Man
Can't tell you how much I miss that car.
Brand New 15.5 second quarter mile 200hp.
When I sold it 12.85 quarter mile 450hp.

 

[Yankee Traveler]

A lot of guys missing out on that new car feel.
"I dont buy new"...... that's funny shit.

If everybody bought new, your trade in would only be worth scrap.

Wholesale.