New CR-Z or Old civic?

**Goat Blower** · 09-20-2010

The general rule is that if your monthly repair bill is over $200 or it causes you to miss work, you're better off making a car payment. That being said, I would almost always say only buy used, because all but a few cars depreciate by thousands the minute you drive away, and that doesn't stop. But with reasonably priced Honda's and Toyota's, it actually does make sense to buy new because they hold their value so well. Just make sure you're getting a ~4.5% rate if you're a 750 credit score or better.

slowbubblecar · 09-20-2010

Quote:

Originally Posted by Goat Blower

But with reasonably priced Honda's and Toyota's, it actually does make sense to buy new because they hold their value so well. Just make sure you're getting a ~4.5% rate if you're a 750 credit score or better.

I agree. I bought a 09 Civic new last year (cash) because if you take a look at the prices of the used ones, it isn't too much more. I ended up paying the base price for the second best model due to a shipping error and didn't need to pay new title registration as well. I travel a bit for work and the car will pay for itself a few times over with the reimbursements I receive if I keep it long enough.

Currently, I have 2 DDs (civic and E55). It doesn't make sense for me to keep the E55 with how much more economical my honda is but I just can't bring myself to getting rid of it.