Looking for advice....used vs new

OktsCamp wrote:
Having some discussion with the Mrs, and now some of my own internal "struggles" if you will on a potential purchase we have made (of course its only on "hold" until I get get it driven etc.), but here is my dilemma....

I found what I believe to be a good deal on a used machine (2008) but it is 7 years old. While I will purchase extended warranty to cover appliances etc., even power train, it is still 7 years old. It certainly does not look it mind you, near new if you ask me, but on paper...its 7 years old. So in 5 years, what's it going to be worth, now its 12 years old, assume things will all still be working, but has it lost a ton of value.

She thinks I should buy new, trouble is, to get what we want new, is like another $40-50K. While I realize it has "new" warranty, powertrain etc., it will still depreciate significantly. If I want to spend around the same money, or even a bit more going from used to new, I frankly get a much lower quality unit.

So I am torn....do I spend $70K on a 2008 vs 100K on a "new" machine, that is NO where near the same quality...its just new. I really only need this machine to last us 5-7 years, at which time we plan to upgrade to the "retirement" version if you will.

I am sure I am not the only one to ask himself this question. I am confidnet that spending the money on the used as I say is good value, and in 5 years it will still have some value, mind you, not nearly as high as it is today of course.

thanks for reading.

I for one have never had to ask myself this question, as I have always been confident that the best bang for the buck was with a used machine, even if only a year or two old. Many of our cars and trucks have came with factory warranty still intact and our latest purchase came with a certified and also a long term power train warranty. Certainly wasn't a deal breaker though, as I'm not big on warranties and especially after market coverage, which in my book, is usually money down the drain. One would be better off in a mutual fund, while waiting for your coach to break down and hopefully covered, which in many cases won't be. Then you'll need more insurance or money to cover your medical expenses due to stress and for anger management sessions, as well...lol