What did you pay for your NEW vibe?

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striker1211
Posts: 56
Joined: Tue Jun 12, 2012 6:05 am
Location: Mid Michigan

What did you pay for your NEW vibe?

Post by striker1211 »

I am currently considering buying a brand new car instead of used for the first time. My vibe has treated me great for the past 5 years but the ride is very rough compared to newer cars (always has been a stiff ride) and while I know the car will MAKE the long trips I don't know if my body can make the long trips for much longer riding on the VIBErating seat. Everyone always says "buy certified used" and I got to thinking, if dealers are making a lot of money on used (especially "certified") maybe they don't make THAT much money on new? Maybe that "depreciation" only applies to those thinking of selling their cars right away? Like, for example... IF I could have got a vibe for $14k in 2008 with 0 miles would that have been a better deal than me getting my used 2008 vibe in 2012 for $9000 (private party) with 78,000 miles.... I would have gotten another 78,000 miles out of it. Instead of being at 187,000 I would be at 109,000.

Say I sell my used vibe for $3000 today. That's:

$9000 sticker
$540 sales tax
$1187 interest
total: $10727
- $3000 private party sale:
$7727 "spent", or $128/month at the time loan was paid

Now if I had bought NEW (at $14k) I would have paid:

$14000 sticker
$840 sales tax (assuming same interest, but new loans have BETTER apr)
$1857 interest
spent: $16697
-$3000 private party sale
$13697 "spent" or $228/month at time loan was paid

BUT I would get ANOTHER 4 years out of this car (2008-2012) instead, so, If we adjust for USE:
Used vibe: 5 Years of Use
$7727/60: $128 a month for "use"

New Vibe: 9 Years of Use
$13697 / 108 months: $126/month for "use"

Am I forgetting anything here? Either way if I keep the car my payments are $0 so those calculations are linear. If the car blows up at 250k either way I would have got 250k out of it. I feel I got a good deal on my vibe private party and it would have been even worse if I bought "certified" since a local dealer wanted $13k ($14k on sticker) for a "certified" 2009 in 2012.

Do you guys always buy new? Used? Why? Have you crunched the numbers? I hope I am missing something because otherwise it seems like I really should have bought new.
My Vehicle: 2008 Vibe Moon & Tunes 1.8L ATX
tpollauf
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Re: What did you pay for your NEW vibe?

Post by tpollauf »

Interesting comparison you've highlighted here! I'll be the first to throw my two cents and make some comments here. First off, as a GenViber approaching retirement age (still young at heart though :D ) I can honestly offer some "real life" experience and advise. I've probably bought half a dozen NEW cars and half a dozen USED cars over the past 40 years. Most of the new cars I've kept for at least 10 years. My 92 F-150 I still own and just turned over 60,000 miles. Paid $10,500 in the fall of '91 and definitely money well spent at the time. My 2009 Vibe GT cost me $14,900 (MSRP $22,700) in May of 2009 and obviously still own it and will take it to the graveyard with me! GM credit card earnings of $4650 really made that a killer deal back then! So I believe your statement is true ONLY if you plan on keeping the vehicle for a very long time. Also the peace of mind knowing the vehicle history ... NONE because it is new 8-) So if you had the $$$ and were planning on hanging on to it for a long time, then buy new. That's my story ;)
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2009 Vibe GT (manual), 2009 G8Gt, 2009 Vibe GT (auto)
2014 Silverado, 2004 Vibe GT

"everything is modifiable"
Caretaker

Re: What did you pay for your NEW vibe?

Post by Caretaker »

Resale. There is a word that has no logical meaning in the car world. I just can't contemplate why the vast majority of people buy cars and even think about reselling them again when they know they will very likely need a car for the rest of their natural life. Resale is one of two reasons why dealers are still in business today; unnecessary repairs are the other. People foolishly take their car in for unnecessary repairs which are greatly over inflated in price at the dealer. People also buy used cars from dealers which are greatly over inflated in price. People get what they deserve. Unless you are into the Mecham and Barrett-Jackson end of classic "horse trading," the only thing one needs to worry about when buying perhaps the worst financial investment one will make in their lifetime (a car) is TIME; getting the most time out of your vehicle purchase by making a smart, informed decision from the start. It is not about resale and it is not about how many miles you will get, it is about time. There is a reason why a zillion Corollas-Vibes-Matrixes-Prisms are on the road worldwide. It isn't because it is the nicest car on the road; it is because it is a multi decades long proven vehicle which will remain in an owner's driveway for a long TIME. Regarding your used car analysis, like you smartly pointed out, as long as you purchase a car from the original owner, you can find out the truth behind the car; did they properly maintain the car, etc. Buying a used car from a dealer is a colossal mistake unless the car, just by chance, happened to have all of its service history done at that dealer, the dealer has no idea about their used car inventory's maintenance history. Regarding buying new versus used, again, if someone is foolish enough to resell their car with decades worth of proven maintenance pedigree and longevity, take advantage of it. However, when dealing with time, if I have the money to do so, I'd always buy new because I know I did my research and know I will never resell my purchase. It will be with me until death do us part...... the car's death hopefully 8-)
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vibrologist
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Re: What did you pay for your NEW vibe?

Post by vibrologist »

I'll throw in another 2 cents.
So far I only bought one car (almost) new. It had 8000 miles on it and should have been called a demonstrator. All other vehicles I (we) bought used.
Here is my thinking: if I buy a car with about 100K miles on it and I have good reason to believe that at least the oil changes have been taken care of then I am getting in on the financial sweet spot. In the worst case the PO dropped the ball on one transmission service. Most transmissions will survive on the original fluid for way beyond 100k. I'll take care of it now and be good from now on.
The tires may be worn out. That's a good thing because it lowers the purchase price and I get to choose the tires of my liking. With new tires I can have the proper alignment done as well.
The struts may need to be replaced. That's not a big deal either if I buy the car low enough.
Everything else should be basic maintenance for the next 100k miles.

Caretaker says TIME is the most important factor. I agree. But future miles are a factor as well. My wife drives her car about 5000 miles per year. With that low yearly mileage I cannot see buying a near new car. In fact all her cars were a bit up in age. The '86 Cavalier lasted 7 years (bought in 90 or 91), the '89 Prizm (bought in '96)lasted 9 years, and the 2000 Contour (bought in 2005) lasted 11 years. The Contour was the cheapest: about $60 per month of use. That includes all expenses to buy the car and keep it up, excluding insurance, taxes and fuel. That's very close to your way of calculating.

The point is: it may be a good idea to project the end of life of your next car and calculate back. In road salt states you can expect an end of life at 15 years. Somewhat depending on the model you can expect an end of life (death being the accumulation of needed repairs) between 150K and 200k. The Contour was rusted out and had bad struts, wheel bearing and VCT solenoid. But it was driving and stopping and had AC and heat.

You probably deserve a nicer car that this rusting Contour was in the end.
Vibrologist
'05 Vibe

"It is important to know the difference between 'accurate' and 'precise' even if you are neither!"

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striker1211
Posts: 56
Joined: Tue Jun 12, 2012 6:05 am
Location: Mid Michigan

Re: What did you pay for your NEW vibe?

Post by striker1211 »

Thanks for the replies everybody. I am the type of person that can keep a car til it dies. I will be buying new next time. I do not require the newest looks but I do require comfort and reliability. If my girlfriend's 06 Camry didn't provide such a smooth ride I would never know what I was missing. In my vibe I can literally feel each bump on the road and i can drive her car over potholes and barely feel it. Plus her car gets 31 mpg (more than my 30). I swear if they made a 2006 camry hatchback I would buy it. Seems like roomy hatchbacks are going away :( The Toyota C-HR is awful.
My Vehicle: 2008 Vibe Moon & Tunes 1.8L ATX
Derf
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Re: What did you pay for your NEW vibe?

Post by Derf »

Vibrologist makes a good point. Insurance, new cars can carry hefty insurance premiums, collision, comp, liability, and if financed gap/loan insurance. The other is maintenance, assuming the first 100k to be relatively trouble fee, new cars are typically dealer only service until warranty expiration, at which point aftermarket parts may be limited or pricey. In your formula adding insurance and estimated maintenance will expand the differences between new and used (this varies widely between make and model) I typically run older vehicles that I know the service history and drop the collision and go with limited comprehensive insurance. Modern vehicles are expensive to repair due to crumple zones and embedded safety systems (which is a big point for buying new, better safety). Insurers are likely to total a vehicle due to cost, making collision coverage on a lower value vehicle less cost effective. That all being said, if I had the money, new could offer features not found in older vehicles. FYI all 2017 and newer vehicles will have laminated glass all the way around, another incremental safety improvement.
2005 #10,524 Neptune Vibe "Bandit" Auto, Moon & Tunes 235k :D
1991 Pontiac Bonneville 3.8L "Granny's Whip" 142k (33nd Anniversary :o )
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trb
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Re: What did you pay for your NEW vibe?

Post by trb »

Not a Vibe, but my best example is my 87 Mustang. Paid about $10,400 new in 87, $251.75 for 5 yrs, then zero payments for 19 years. My repairs and maintenance averaged about $500-700 a year, so I got my money's worth.

None of our Vibes were bought new, but my 2010 GT I paid $12,400 for it in 2011 with 36k miles. Drove it 2-1/2 years until it was totaled, rear ended. Insurance paid me $12,8xx. So I made money driving it for 2-1/2 years! Don't think that could ever happen again.
Thomas
the "Mustang Guy"
1987 5.0 LX Mustang
2016 Mustang GT - current daily
2004 Satellite Vibe &
2009 Red Vibe GT -twin's cars
2003 Neptune Vibe GT - prior daily
2010 Red Vibe GT - RIP 6/16/14
2006 Platinum Vibe - son's car
finebead
Posts: 34
Joined: Sat Nov 29, 2008 10:26 am
Location: Houston, TX

Re: What did you pay for your NEW vibe?

Post by finebead »

I have a lot of experience (64 yrs old), and have NOT done an extensive analysis, but I have always heard that the cheapest way to own a car is go ahead and buy it new (or a year or two old), and drive it until it drops, surely over 10 years. This assumes you don't have a lemon and big repair bills, and does not include insurance issues. But, it you maintain your car well, you should avoid big repair bills. That's what I do. There is also something to be said for enjoying the new technology in a new car, and knowing its entire history.
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