Buying a 2010 version of one Honda saves you only $29 a month – and you lose out on the warranty. Is it better to buy a new or used car?, One of the biggest dilemmas when buying a car is whether to purchase new or used. As we head toward the end of summer, the 2012 model year is winding down. There are tempting deals being advertised at every turn. In these dynamic economic times, does the conventional wisdom still ring true, that it is cheaper to buy used than new? Our analysis provided a fresh, and even surprising, insight.
To crunch the numbers, we looked at current deals for a few popular 2012-model-year (MY) sedans and SUVs and compared them to the used-car pricing for the same model from 2010 and 2008. In some cases, with a slight increase in monthly payment, you can get a new car without the used car mileage and with a full manufacturer’s warranty.
To illustrate the findings, the chart below highlights the differences on five Consumer Reports’ recommended vehicles–the Ford Fusion and Honda Accord sedans, and Acura MDX, Ford Escape, and Honda Pilot SUVs.
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