Should I buy new, or used. - Page 2
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This is a discussion on Should I buy new, or used. within the New Member Hangout forums, part of the Community - Meet other Enthusiasts category; I bought a used WRX once and got extremely lucky. I got an incredible deal on a low-mileage, well-maintained, unmodified ...

  1. #16
    Dimensional Drifter Rambo's Avatar
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    I bought a used WRX once and got extremely lucky. I got an incredible deal on a low-mileage, well-maintained, unmodified car without really realizing it at the time. The car served me faithfully for the 3 years I owned it.

    Knowing what I know now about how many owners aren't as scrupulous with their cars, I will never buy a used WRX/STI, unless the price is low enough that I can factor in the cost of a total drivetrain replacement within a few years (and even then, I'd be extremely cautious about the car I chose).

    Personally, if I can't afford a new WRX (or really any performance-oriented car), I'd buy an entirely different type of vehicle.

    Other than that qualifier, I would prefer to pay cash for a couple year old car, rather than take out a loan for a brand new one.
    Isaac -- 2003 WRX sedan Stg II - Gave its life for mine 6/2013.
    2007 Outback 3.0R wagon
    Proud owner of a N.E.R.D, Member 1.3810-23

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  3. #17
    Registered User Soobvirgin's Avatar
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    Quote Originally Posted by Rambo View Post
    ...I would prefer to pay cash for a couple year old car, rather than take out a loan for a brand new one.
    I used to dislike borrowing money too, but if you have cash, don't forget to look at interest rates. If you can earn 3% in a savings account and a loan will only cost you 2%, you're better off leaving the money in the bank.

  4. #18
    Dimensional Drifter Rambo's Avatar
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    Quote Originally Posted by Soobvirgin View Post
    I used to dislike borrowing money too, but if you have cash, don't forget to look at interest rates. If you can earn 3% in a savings account and a loan will only cost you 2%, you're better off leaving the money in the bank.
    If you make 3% in your savings account, what is your bank?!?!?! I earn 0.1% interest, and that's pretty good compared to other banks in our area. Now if you're talking investment funds, fine, but there is a measure of risk with that as well.
    Isaac -- 2003 WRX sedan Stg II - Gave its life for mine 6/2013.
    2007 Outback 3.0R wagon
    Proud owner of a N.E.R.D, Member 1.3810-23

    He who shall be last, shall be sideways and smiling... - Jeremy Clarkson

  5. #19
    Registered User Soobvirgin's Avatar
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    Quote Originally Posted by Rambo View Post
    If you make 3% in your savings account, what is your bank?!?!?! I earn 0.1% interest, and that's pretty good compared to other banks in our area. Now if you're talking investment funds, fine, but there is a measure of risk with that as well.
    Haha, that was just an example. My point was just to look into it before you spend your own money.

    But.... you can do better than 0.1% right now. Ally Bank are offering 0.85% on a standard, no-risk, money market savings account. Or, if you're prepared to lock your money away for 5 years, 1.5%. So, if you could get financing for less than 1.5% over 5 years, you could leave your money in the bank.

  6. #20
    Administrator RayfieldsWRX's Avatar
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    Savings accounts suck. May as well be a 2nd checking account. If I want any kind of return on my money, I look at s&p index funds, etc.
    --Ray
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  7. #21
    Dimensional Drifter Rambo's Avatar
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    Quote Originally Posted by Soobvirgin View Post
    Haha, that was just an example. My point was just to look into it before you spend your own money.

    But.... you can do better than 0.1% right now. Ally Bank are offering 0.85% on a standard, no-risk, money market savings account.
    Not to derail this too much, but I've tried a branch-less bank before and it was a PITA to deal with. While I concede the interest rates are much higher (far less staff overhead required), having to do everything online and hunting around for participating ATMs grew old quickly. I vastly prefer our local credit union, which offers no fees of any kind, decent account interest rates (relatively speaking), excellent loan rates, and cheerful branch service.

    /offtopic


    We can both agree the OP ought to carefully investigate their current and future financial outlook and make their decision off that.
    Isaac -- 2003 WRX sedan Stg II - Gave its life for mine 6/2013.
    2007 Outback 3.0R wagon
    Proud owner of a N.E.R.D, Member 1.3810-23

    He who shall be last, shall be sideways and smiling... - Jeremy Clarkson

  8. #22
    Administrator RayfieldsWRX's Avatar
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    Yeah, sorry to contribute to the offtopic-ness.
    OP, Have you addressed other financial goals in your life; for example, buying a house, paying down debt, and saving for the future? Give those some thought before you commit large chunks of money to a new (or even slightly used) WRX. It may make sense, as someone jokingly hinted, to drive a lesser vehicle for a while, and get more ducks in a row.

    Obviously I don't know the circumstances of your life. Best of luck in any case.
    --Ray
    Grandfather of the Bugeye Mafia
    2013 Subaru BRZ Limited
    2002 Subaru WRX Bugeyebrid Wagon

  9. #23
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    Quote Originally Posted by RayfieldsWRX View Post
    Yeah, sorry to contribute to the offtopic-ness.
    OP, Have you addressed other financial goals in your life; for example, buying a house, paying down debt, and saving for the future? Give those some thought before you commit large chunks of money to a new (or even slightly used) WRX. It may make sense, as someone jokingly hinted, to drive a lesser vehicle for a while, and get more ducks in a row.

    Obviously I don't know the circumstances of your life. Best of luck in any case.

    well im 21 and I make very good money as a operator, I would absolutely like to own a house down the road but where im so young I dont plan on moving out anytime soon.

  10. #24
    Registered User Monk_Knight's Avatar
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    To offer a slightly contrasting opinion... I bought my WRX used with 98k on the clock right before I turned 21. I looked at a LOT of cars before finding one that fit my criteria -- stock, well-maintained, full maintenance records. It is currently at 168k and still going great.

    I think sometimes being car enthusiasts, we can overlook how many people just don't really think about cars how we do at all. If I see a WRX/STI on the streets around town (in Colorado... there's dozens of them even in my small town), I'd say there's at least a 70% chance it is completely stock. Probably about a 40% chance that it's stock and driven by someone over 40 (not to say that people over 40 aren't car enthusiasts, but the point is that they aren't all young kids).

    I don't see anything wrong with getting a used one, just be aware that there can be a bit more to look out for than if you were looking at something that isn't performance oriented.

  11. #25
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    If you can afford it, go NEW

  12. #26
    Registered User Ingo's Avatar
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    Used... if you take your time to find the right one, I know it's out there. If you don't want to take time and are willing to take the cost, new is a safe, predictable bet.
    You can't have everything - where would you put it?

  13. #27
    Registered User Doctor Jeff's Avatar
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    I just got a 2012 DGM WRX Premium sedan with 16K miles--I would have gone for new but they're hard to find. I like the dark gray metallic, also the heated seats and Bluetooth were a must-have, and the spoiler and fog lights on the Premium are also desirable. There are currently no new unsold WRX's within 150 miles of Omaha, and there are only 2 Premiums in DGM in the entire country, each 1000 miles away.

    So for me it came down to finding the model I liked in really good (almost perfect) condition, still with 4 years on the warranty. I would have considered new, though about $2-3K more expensive, if availability wasn't an issue.

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