I’ve bought 2 new cars (actually, trucks) in my life and will probably not buy another. There are too many late model used ones out there that still have some warranty (and a lot of life!) left in them.

Of course, the person who can afford a $17k used car is not in the same boat as someone who can only afford a $3k used car. Since they will be long off warranty, a lot of the usual caveats apply: Get the inspection, check the car out throughly.

But it’s beyond question that the general increas in the overall quality and longevity of cars has been a real boon to those of us who don’t buy new. A lot of misty-eyed Detroit lovers may talk about the golden age of the 1950’s and 60’s, but for those of us who like to drive, the golden age is right now.

The reason 10 year old pickups, SUV and Minivan seem to increase in price when they hit the 10 year mark is another phenomenon of the Used-market in the USA: Mexico!!!!

If a latino does not mind paying a premium for such vehicle, you will see named vehicle in-tow next winter bound to Mexico. Where they will be resold for a fat margin!

First off, you have several vehicles out there that have an exceptional level of popularity. Mini’s, Tc’s, Xb’s and the like. A few folks here have mentioned that the stickers on these are usually just a grand or two off list and there is a big reason for it. They are ‘finance fodder’.

Finance fodder represents those vehicles that appeal to those who are willing to pay a premium for the ‘fashionable’ vehicle. Five years ago they were primarily loaded up SUV’s with V8 engines. These day’s a Civic Si, Mazda 3 or Mini fits the bill quite nicely. So do loaded up and heavily customized Hummers, and anything that qualifies as a contender for the sequel to the fast and furious. Some of the buyers are ignorant of the marketplace, while others are making just enough cash (meant in the figurative sense) to finance their dreams.

It continues to amaze me how many folks out there buy a vehicle without knowing anything about it’s history. I DO include those vehicles sold by certain large used car retailers in that mix. Other than the Carfax/Autocheck history and post-sale inspection, most retailers are blissfully ignorant as to whether the vehicle’s prior owner was actually good to the car or not. In fact, it’s taken nearly a decade for many dealerships to realize that a dealer maintained vehicle can carry a price premium and eliminate a lot of uncertainty as well. A lot of indepenent dealers today are too cheap to buy a Carfax report, and the majority of them could care less. Why? Because there are still millions of customers who consider reading and research to be an avoidable hassle.

Last month, I sold 16 vehicles to what can loosely be called ‘the public’. Out of those 16, 15 of them were for $3500 or less, all were for cash (I have philosophical issues with financing) and nearly a third of my clientele was Latino (I can speak and do my bid calling in Spanish). Toyonda’s have always carried a premium. But surprisingly enough, so do older early 90’s SUV’s with low mileage (Broncos and Cherokees), Volvo 850/S70’s, and virtually any older minivan that has good leather in it. There are still plenty of sweet spots in the market, depending on where you live and who you serve. High mileage 4WD Imprezas can go for a huge premium in places like Ashville and Burlington. Not so in Atlanta. 4WD SUV’s may be the thing in New Jersey. In Florida they hold little sway. Every market has it’s differences and eccentricities.

My advice is to buy used, follow the points that were made in a certain writer’s used car series not to long ago, (Note: PLEASE get the vehicle inspected no matter who is selling it), and focus on finding a vehicle that will be good for the long haul.

I love cars… but I enjoy a worry free lifestyle even more. Most of my customers have the same attitude towards the buying and ‘keeping’ process.

I am also strongly in the non-CPO camp. I see two benefits to buying private party used. 1) I can see who was driving the vehicle and get a feel for how they drove it and maintained it by questioning them. 2)I cut out the dealer mark-up. Even though the person selling a used vehicle is asking for more than a deaer would give them in trade-in (why else would you go to the trouble of selling it yourself?), it will still be less than you would pay for the same vehicle at a dealer (why else would you buy it?).

Kudoos! You get the Dennis Miller Award for tripping off memories from the deep, cobweb covered portions of the mind.

The important stuff is in the last paragraph though. The smart folks have realized that depreciation costs more than gas, and the way to beat depreciation is to make owning one of your older cars a good experience. I wonder though, whether the manufacturers are still making much money on older car parts. There is a lot of competition for that dollar as well.

I’ve been bouncing around between new and used for years, depending on what appeals to me at decision time. I’m currently driving a four year old 911 that I picked up on a CPO program over the summer. It came with just over 25K miles on the clock, and sold for less than half of the original sticker. But the alternative was a new Cayman S for more or less the same price (about12% off MSRP). Although the newer car is marginally better to drive, ultimately the decision came down to practicality; a 911 just has a lot more usable space than a Cayman, and for a daily driver that’s what carried the day (I know it sounds absurd, but what critics always deride as the 911’s “useless” backseat is actually incredibly useful). New versus used simply wasn’t part of the equation.

The evolution of CPO programs has really changed the automotive landscape, expanding consumer choice while providing all the benefits of dealing with a new car dealer: easy trade-ins, financing, service, etc. And I’m not sure there was really any substantial extra cost involved compared to going with a private transaction. My review of craigslist, cars.com, etc. before closing the deal showed that when it comes to resale, Porsche owners generally aren’t offering any bargains.

All of that being said, and as happy as I am with my purchase, if Porsche really comes out with a double clutch transmission any time soon, I could easily find myself turning back into a new car buyer once again.

It’s a damned good car, one that I can see serving us well for another 50K miles (we’ve put 50K on it after getting it with 38K).

At least at Cadillac, we have been treated very well by three separate dealers when the car has needed small warranty repairs (CD changer, front strut) as well as non-warranty repairs.

You save a lot of money. We were looking at a new CTS and the CPO car we found had the exact set of packages and the exact colors we wanted at a price that was $15K below the sticker.

We’ll probably be back for a CPO ‘08 CTS sometime in early ‘09.

Another exception. We decided that since we carpool and nearly don’t even need a 2nd car (but need a totally reliable 2nd car – my wife is a nurse) and we also did not want to spend a ton of money, yet needed to tow (and did not want a minivan or SUV), we leased a 2007 Hyundai Sonata 2.4 litre 4 cylinder car – it was zero down, $211 a month for 2 years, 12,000 miles a year. We’ll only use 6000-8000 a year. At the end, we might buy it but we may try the same trick again, or buy a zero APR Hyundai or maybe even a Kia Optima. Or Toyota or Honda. We need to be able to tow 1500 pounds. A Corolla can tow 1500 pounds, so can a Sonata four cylinder.

The fact that in Traverse City Michigan (northwestern lower peninsula), the Kia Spectra, Kia Sportage and Kia Optima are #1, #2 and #3 in sales also gives me another clue. (Traverse City is a little like California in that early trends can sometimes be seen here). People are shopping price and value. This bodes well for the Chinese (even if Chinese cars will bode poorly for Americans).

After a couple of decades of only being able to afford used shiet or new cheapies, I’m happy to spend the extra dough to have reliable new cars with a warrantee. Especially when used is the same damned money.

So I’m being a contrarian here, and saying – used is great, IF you can stomach Detroit’s crapola. I cannot any longer. Yeah, I’m a slow learner, it only took 30 years for me to figure this out, but Detroit makes crap, and if I want a decent car, it kind of has to say Toyota, Honda, Hyundai, Subaru or maybe even Kia on it.

Still, the overall buying experience of CPO was just so much better than buying new – pricing of used cars is far more transparent than new cars, which is kind of absurd when you think about it.

BMW and Honda aggressively advertise their CPOs. Part of their success is certainly their initial superiority, but there’s a marketing side to this as well.

I would think if the new vehicle price is down around 20k buying new might make more sense.

Leasing seems to make sense to me when the vehicle is over 35k and you plan to only keep it 3 yrs anyway.

I have had good luck selling several “trade in” cars to Carmax as well. Very easy and smooth process.

If you want a deal (and a chance to see how the prior owner drove the car), go private party.

I put my Dad’s car on craigslist (with his permission), wrote a detailed description and attached three photos, and the car sold within 24 hrs…for my asking price!

I will definitely consider buying a car from a private seller on craigslist.

1. The “everything with a pulse” financing customers have eliminated the credit unworthy buyers (these were the ones who kept the Big 2.8 afloat buying up their worst cars as they had the best deals – these people didn’t shop for cars – they shopped for the best deal). These customers are so tied up they will not be able to buy another new car until their 70% negative equity 0% 72 month loans get paid off (if they will at all).

2. The other credit poor but homeowners who took the $8-$10k in cash back and paid the remainder using up the last bit of their Home Equity or 2nd Mortgages now find themselves in a terribly depreciating asset they still owe money on and their housing values are dropping meaning they have no more money left to borrow.

These 2 customer groups are now out of the market – look at GMAC and the defaulted loans. Then take a history lesson and look at how the loose financing affected Mitsubishi (which also sold a lot of cars to fleets too). The Big 2.8 milked this market for all it was worth. Now they are suffering from defaulted loans and took these potential credit unworthy customers out of the market for 5-10 years as they have to get back on top of thier debt.

Domestic cars are disposable coincident with warranty maturity, accounting for the steep depreciation curve. Value engineering, producing products that become non-functional within a defined time frame, created a consumer backlash. Millions shed their loyalty and buy from Asian companies that cater to their desire for quality products.

Certified Pre-Owned vehicles address both issues. A purchaser benefits from the lower cost and gains an extended warranty, however daunting the prospect of frequent fights with the dealer to get them done may be.

I’ve helped several friends find and buy used cars lately and craigslist has turned out to be the resource of choice in all cases (they were looking for sub $5000 cars).

For a later model vehicle a new car dealer or perhaps Carmax is a safe way to go. Generally their vehicles have had any needed repairs brought up to date, something you don’t often find in private party or corner used car lot deals.

For bargain hunting (unless one has access to the auctions) then private party transactions make the most sense if you know cars and how to evaluate them. The local small used car lot really doesn’t have much going for it.

One buddy bought his slightly used car at the Hertz Car Sales lot two years ago and he has been thrilled with it. He got an Impala with 20k miles on it for about $9k less than he could have bought it new for.