New or second hand motor ?
Nov 25th 2014, 12:51 am
#31
Lost in BE Cyberspace
Joined: Sep 2013
Location: SW Ontario, Canada
Posts: 6,960
Re: New or second hand motor ?
When we first came we bought two used cars from a well known (in our area) used car dealer, both served us well. However, given that you have to pay HST on used as well as new vehicles, the lifespan of a car here is generally shorter than in the UK and that used cars are not much cheaper than new in some cases we have bought new ever since. Our plan is one new one every 5 years, so my business car is less than 5 years old, and then it goes down the line so second car is 5-10 years old, by which time they are pretty much scrap.
Our son had been driving the first car we got when we moved here but at 12 years old it finally gave up earlier this year and we had to look into a replacement for him. We were definitely thinking used vehicle, but we found that we couldn't get anything less than 5 years old for less than $7k. We then noticed that Hyundai were doing a deal on their Accents $10,400 on the road (only HST on top). Its completed unloaded, ie manual, no AC, and wind up windows, but it has ABS, traction control and power steering. Plus the Hyundai Warranty and free oil changes for life. It was a no brainer for us.
Our son had been driving the first car we got when we moved here but at 12 years old it finally gave up earlier this year and we had to look into a replacement for him. We were definitely thinking used vehicle, but we found that we couldn't get anything less than 5 years old for less than $7k. We then noticed that Hyundai were doing a deal on their Accents $10,400 on the road (only HST on top). Its completed unloaded, ie manual, no AC, and wind up windows, but it has ABS, traction control and power steering. Plus the Hyundai Warranty and free oil changes for life. It was a no brainer for us.
If it were me, i'd do what my family does. Lease cars on a 3yr basis. Payments around $600/m+insurance, maintenance included, and we have new cars every 3 years.
Happyhammers, buy new. Better for you, as in you know the car hasn't been potentially damaged by anyone else, and the price difference on a Ford Edge is rather negligible IMO. My recommendation would be to go with the Edge, more features built in, and a more reliable car than the jeep.
Nov 25th 2014, 1:21 am
#32
Joined: Feb 2006
Location: Red Deer, Alberta
Posts: 10,612
Re: New or second hand motor ?
I would also like to add, if your used to buying from classifieds in the UK and have half a idea and are not stupid, you'll be fine here, most people know what rust looks like, if you normally buy new or second hand from a dealer and that is your comfort zone, then do the same here. If your buying new or nearly new get it under coated. As with any age vehicle, if you want it to last washing and waxing (auto glym super resin polish is lovely stuff) really helps keep the rust at bay.
you do get rusty cars in Alberta, OH went to look at a jeep cherokee last week, no rust on top interior looked decent, carpet was wet, so he got on his knees, looked underneath and there was no floor, ill not tell you want he said...I would also say you have to put time and effort into finding a decent car, if we buy 1nin 10 that we look at, then thats probably good odds.
Nov 25th 2014, 1:46 am
#33
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Joined: Nov 2011
Location: Calgary, AB
Posts: 348
Re: New or second hand motor ?
Go second hand, but as mentioned above do your due diligence. It will give you an opportunity to not spend very much and get a vehicle to get you to A to B.
Much of what IankK has said is right, though I cant speak for Ontario.
I personally did not like the American brands, they depreciate a lot more, build quality not very good, and they are thirsty. That being said parts are cheap.
German brands were very nice, but expensive to maintain. My VW was very nice, but to maintain was too much.
That left me with Japanese and Korean. First gen Korean Hyundai were not bad, second gen are a lot better. I drive a 2002 Honda CRV. It had high milage, but everything works (except the air conditioning) and I get the same gas millage as my VW.
If you decide to finance your vehicle, read the payment details and amortisation period. I can't stress this enough. For example, you might make monthly payments for four to six years and think at the end that loan is paid off. Nope. You may have to renew the loan for the remainder amount you owe.
Good luck!
Much of what IankK has said is right, though I cant speak for Ontario.
I personally did not like the American brands, they depreciate a lot more, build quality not very good, and they are thirsty. That being said parts are cheap.
German brands were very nice, but expensive to maintain. My VW was very nice, but to maintain was too much.
That left me with Japanese and Korean. First gen Korean Hyundai were not bad, second gen are a lot better. I drive a 2002 Honda CRV. It had high milage, but everything works (except the air conditioning) and I get the same gas millage as my VW.
If you decide to finance your vehicle, read the payment details and amortisation period. I can't stress this enough. For example, you might make monthly payments for four to six years and think at the end that loan is paid off. Nope. You may have to renew the loan for the remainder amount you owe.
Good luck!
Nov 26th 2014, 5:10 pm
#34
Proudly Scarberian
Joined: Aug 2014
Location: Scarberia
Posts: 2,196
Re: New or second hand motor ?
Since my old saab became a daily driver I've krown'ed it every year- what's the view on the oil sprays- worthwhile or $100 a year down the drain?
Nov 26th 2014, 6:56 pm
#35
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Joined: Feb 2013
Location: AB
Posts: 905
Re: New or second hand motor ?
I quite like the leasebuster site, get a nearly new car, still under warranty for a limited period of time, if you like it and is reliable, buy it for the amount on the lease contract. If not get rid and look again. It means that any saving you have brought to enable you to settle are intact for a while until you are ready to pay for a car outright. There is a very nice Passat deisel for relatively little money per month, I have one in UK and they are frugal, spacious and reliable. Had I been there, I would have had it.
Nov 26th 2014, 7:02 pm
#36
Assimilated Pauper
Joined: Mar 2005
Location: Ontario
Posts: 40,018
Re: New or second hand motor ?
I quite like the leasebuster site, get a nearly new car, still under warranty for a limited period of time, if you like it and is reliable, buy it for the amount on the lease contract. If not get rid and look again. It means that any saving you have brought to enable you to settle are intact for a while until you are ready to pay for a car outright. There is a very nice Passat deisel for relatively little money per month, I have one in UK and they are frugal, spacious and reliable. Had I been there, I would have had it.
Nov 26th 2014, 7:09 pm
#37
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Joined: Feb 2013
Location: AB
Posts: 905
Re: New or second hand motor ?
I'll cross that bridge when I come to it, if necessary I'll pay the lease payments up front. Still cheaper than a rental I suspect, even with the insurance premium. Where there is a will, there is a way.
Nov 26th 2014, 7:12 pm
#38
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Joined: Mar 2005
Location: Ontario
Posts: 40,018
Re: New or second hand motor ?
"It means that any saving you have brought to enable you to settle are intact".
Nov 26th 2014, 7:19 pm
#39
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Joined: Feb 2013
Location: AB
Posts: 905
Re: New or second hand motor ?
Why? Seven months of $500, if you like it, another $16k in 7 months time. If not, it has cost 3.5k over the 7 months. Perhaps you could save this over the 7 months to replace it. Oh, you would have a credit rating too at that point, so one could do it again if necessary.
Nov 26th 2014, 7:29 pm
#40
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Joined: Feb 2013
Location: AB
Posts: 905
Re: New or second hand motor ?
Incidentally, you can lease a car for less than $250 a month, ok it's a corolla or a Sentra but it is cheap motoring. So it is a viable option.
Nov 26th 2014, 8:34 pm
#41
Moderαtor Emeritus
Joined: Sep 2003
Location: Upstate South Carolina
Posts: 30,768
Re: New or second hand motor ?
Is that $250 with no money down?
Nov 26th 2014, 8:42 pm
#42
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Joined: Feb 2013
Location: AB
Posts: 905
Re: New or second hand motor ?
Go to lease busters, put in lease with less than 12 months and under 300$. A Ford Focus will show. 11 months @ 314$ less 1000$ incentive paid to you. I make that $2500 for 11 months motoring. Nothing to put down, only your insurance on top. Seems a good deal- until you see the colour of the car!
Use it for 11 months, don't like it at that point, hand it back. Look again for another....
Use it for 11 months, don't like it at that point, hand it back. Look again for another....
Last edited by Yorkiechef; Nov 26th 2014 at 8:47 pm.
Nov 26th 2014, 8:57 pm
#43
Moderαtor Emeritus
Joined: Sep 2003
Location: Upstate South Carolina
Posts: 30,768
Re: New or second hand motor ?
Go to lease busters, put in lease with less than 12 months and under 300$. A Ford Focus will show. 11 months @ 314$ less 1000$ incentive paid to you. I make that $2500 for 11 months motoring. Nothing to put down, only your insurance on top. Seems a good deal- until you see the colour of the car!
Use it for 11 months, don't like it at that point, hand it back. Look again for another....
Use it for 11 months, don't like it at that point, hand it back. Look again for another....
Last edited by iaink; Nov 26th 2014 at 9:01 pm.
Nov 27th 2014, 12:58 am
#44
Assimilated Pauper
Joined: Mar 2005
Location: Ontario
Posts: 40,018
Re: New or second hand motor ?
I do think taking over a lease can make sense but I doubt it works for someone fresh off the boat.
