dola,
Quote:
Originally Posted by GrantDawg
I don't know why anyone would buy a slightly used car when they save very little money off a new one, and if you finance are going to pay a higher interest rate.
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Since I just posted that I did this with my most recent car:
I was able to get pre-approval through my credit union at a great rate (I forget what rate exactly but under 4% for sure, as I mentioned the dealer saw what I had been approved for and didn't even bother running my credit to try to compete with the financing). Going the low mileage certified pre-owned route through the Honda Dealer saved me about $5,000 compared to buying new and I paid off the loan in 18 months so I didn't pay a ton of interest anyway. At the time it seemed to me that saving the "driving it off the lot" depreciation was worth it. Long term I'm definitely thrilled with what I got.
This was 2018 so I don't know if the post pandemic world has changed all this. hopefully I don't have to figure that out for a very long time.
EDIT: this is for an Accord EX-L, at the time was the second highest end model behind the "sport", hybrids notwithstanding. I want to say new was $28,000 and I paid $23,000, but my memory is a little fuzzy on that level of detail.