New only if you plan on keeping it for 10 years. Depreciation over the first 1-2 years will kill you if you plan on selling it after a couple of years. Me, i will never buy a new car unless i come across a large sum of money

 

I like new used cars. I picked up my accord in November of 06 used with 5k miles from a used dealership for $18,000. I got a pretty good deal for a EX model, I had been searching around for months.

 

I have always been a used car guy because of the depreciation associated with a new car.
However, our next car will be new. here's why:
My father in law is the Business Accounts manager at a fairly large local Ford dealership. So when we want another car, we will be able to get the "family discount" and basically pay whatever my father in law would pay for a new one since the car will likely be titled in my wife's name.
We'll probably be getting it within the next 2 years or so. I guess it all depends on how long the money pit lasts and how soon my wife can finish with her internship program so she can get a significant raise. She picked one of the only majors in college that requires a 1 year unpaidinternship program after you have already gotten a 4 year degree. She is going to be a registered dietician - right now she is technically a clinical dietician - becoming a registered dietician should mean around a 5-10k/year pay increase. luckily she found a program that allows her to do her internship program while she is still working. She is about 1/2 way done with it and has till either June or July of 2009 to finish. We will likely get the new car shortly after she gets either a big raise at her current job after completing the internship, or if she has to quit her current job and get another one that actually appreciates her and will pay her appropriately. Right now she works for a nursing home and the management is a bunch of women who are total a-holes.

 

used. next car will be a toy. some of you can guess what that will be. i cant / wont afford one of them new.

 

I guess those German cars must be like crack or something

 

yes. but I just bought a home, so there will be a slight delay...maybe 6-12 mos.

 

Smart move on buying a home. Cars can always wait. Thowing money down the toilet on rent sucks!