What is an ideal sweetspot to purchase used in terms of years, kms and what else?

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Nov 25th, 2015 8:59 am

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Nov 24th, 2015 5:12 am

indca [OP]: Deal Addict; Jan 23, 2006; 1730 posts; 215 upvotes; Toronto

Nov 24th, 2015 5:12 am

What is an ideal sweetspot to purchase used in terms of years, kms and what else?

Hello guys, so I am in the market for a sedan; and want avoid spending $30k for new sonata; I have various option such as optima,fusion, sonata and more in the used market.

Now, I expect heavy use for this purchase around 100 km daily commute; now what kms and years used should I be looking at for car when buying used to not fall into category of instant maintenance required.

What else should be important when making a purchase? Private vs dealer? Rental vs lease? In warranty vs out of warranty?

At what point buying used is better deal then buying new?

30 replies

Nov 24th, 2015 9:20 am

nasa25: Deal Expert; Oct 13, 2009; 21198 posts; 10674 upvotes; Iqaluit, NU

Nov 24th, 2015 9:20 am

thanks for asking this question

to answer it, 3-4 years old with 50-60k km or less. Basically just off lease cars. That's the best bang for your buck. Private will be cheaper but with the dealer you'll most likely get a CPO warranty. If you were buying luxury I'd suggest that the warranty is a must but in your case you could probably get away without it.

+2

Nov 24th, 2015 9:39 am

uber_shnitz: Deal Fanatic; Nov 6, 2010; 9866 posts; 1812 upvotes; Montreal, QC

Nov 24th, 2015 9:39 am

Check the maintenance schedule for the cars you're looking at and compare that to the km/age of the used cars you're looking at. If the first major service for car A is 100k for example, avoid cars of model A just under that km. Usually people want to get rid of their vehicles around a major service interval so they don't have to pay for it. More expensive cars tend to have longer intervals.

Nov 24th, 2015 9:43 am

nineiron: Temp. Banned; Feb 8, 2005; 2335 posts; 246 upvotes

Nov 24th, 2015 9:43 am

nasa25 wrote: ↑thanks for asking this question

to answer it, 3-4 years old with 50-60k km or less. Basically just off lease cars. That's the best bang for your buck. Private will be cheaper but with the dealer you'll most likely get a CPO warranty. If you were buying luxury I'd suggest that the warranty is a must but in your case you could probably get away without it.

i would avoid 'off lease' cars as they are generally abused and returned.

Nov 24th, 2015 9:51 am

rkjredflag: Deal Addict; Aug 10, 2015; 1973 posts; 825 upvotes; Elgin, ON

Nov 24th, 2015 9:51 am

Ideally, I like to see cars with under 10,000km per year.

Both age and km devalue a car, but I think that km are more of a penalty when asking "how much longer will the car last."

IMO, older cars, with lower km are the best deals.

Nov 24th, 2015 9:54 am

nineiron: Temp. Banned; Feb 8, 2005; 2335 posts; 246 upvotes

Nov 24th, 2015 9:54 am

rkjredflag wrote: ↑Ideally, I like to see cars with under 10,000km per year.

Both age and km devalue a car, but I think that km are more of a penalty when asking "how much longer will the car last."

IMO, older cars, with lower km are the best deals.

but OP wants a car that is 'devalued' to get the most bang for their buck. older cars with lower km will cost more and are rarely the 'best deals'

Nov 24th, 2015 10:21 am

booblehead: Deal Expert; Jul 30, 2007; 31261 posts; 17826 upvotes; Toronto

Nov 24th, 2015 10:21 am

2 yrs old. 30,000km or less.

-the worse of the depreciation hit has been done
-still have a bit of warranty left
-still relatively new but paying as used car price level
-no significant major parts replacement are foreseen any time in the near future, just have to check the brake and tire wears to see how they had been driven by previous owner

Nov 24th, 2015 10:42 am

Little Tim: Deal Addict; May 24, 2008; 3237 posts; 1129 upvotes; Toronto

Nov 24th, 2015 10:42 am

nineiron wrote: ↑i would avoid 'off lease' cars as they are generally abused and returned.

Not sure if it's really that much different from someone who finances or pays cash for a car with a view to trade it in 2 or 3 years. Wouldn't they abuse it just as much considering they're not in it for the long haul?

Now, to find that 2-3 year old car that someone bought to keep for 10 years, but suddenly changed their mind or hit financial difficulties and need to trade it in - that's the holy grail...

Nov 24th, 2015 10:44 am

Dpack22: Deal Addict; Mar 16, 2010; 3325 posts; 1880 upvotes

Nov 24th, 2015 10:44 am

I bought my Pontiac Grand Prix for about $7000 and it had 114,000km on it. Has about 177 now and still going strong.

Nov 24th, 2015 11:03 am

Regin8r: Sr. Member; Apr 21, 2004; 891 posts; 95 upvotes; Pickering

Nov 24th, 2015 11:03 am

booblehead wrote: ↑2 yrs old. 30,000km or less.

-the worse of the depreciation hit has been done
-still have a bit of warranty left
-still relatively new but paying as used car price level
-no significant major parts replacement are foreseen any time in the near future, just have to check the brake and tire wears to see how they had been driven by previous owner

2nd this.

Nov 24th, 2015 11:07 am

kenchau: Deal Guru; Apr 11, 2006; 10598 posts; 4561 upvotes; Mississauga

Nov 24th, 2015 11:07 am

nasa25 wrote: ↑...3-4 years old with 50-60k km or less. Basically just off lease cars. That's the best bang for your buck. Private will be cheaper but with the dealer you'll most likely get a CPO warranty. If you were buying luxury I'd suggest that the warranty is a must but in your case you could probably get away without it.

I was literally thinking this myself, when I saw the title before clicking into the thread.

booblehead wrote: ↑2 yrs old. 30,000km or less.

-the worse of the depreciation hit has been done
-still have a bit of warranty left
-still relatively new but paying as used car price level
-no significant major parts replacement are foreseen any time in the near future, just have to check the brake and tire wears to see how they had been driven by previous owner

But then I saw this, and like it better over my own thoughts, so +1 on this one. Haha.

Nov 24th, 2015 11:13 am

nineiron: Temp. Banned; Feb 8, 2005; 2335 posts; 246 upvotes

Nov 24th, 2015 11:13 am

booblehead wrote: ↑2 yrs old. 30,000km or less.

-the worse of the depreciation hit has been done
-still have a bit of warranty left
-still relatively new but paying as used car price level
-no significant major parts replacement are foreseen any time in the near future, just have to check the brake and tire wears to see how they had been driven by previous owner

most depreciation happens at around 4 years. you're still paying a lot for a 2 year old car (might as well buy a slightly cheaper new car)

Nov 24th, 2015 11:21 am

booblehead: Deal Expert; Jul 30, 2007; 31261 posts; 17826 upvotes; Toronto

Nov 24th, 2015 11:21 am

there will always be a trade off between the two parameters (age of vehicle vs depreciation $ hit), that's why everyone will have their own point of view for their own preference and budget $. As already said thousands of times in this forum, an aged euro cars will most likely have a higher maintenance costs.

Nov 24th, 2015 11:45 am

indca [OP]: Deal Addict; Jan 23, 2006; 1730 posts; 215 upvotes; Toronto

Nov 24th, 2015 11:45 am

Guys what about buying loaded used vs buying base is it better value to get loaded trim level?

Things like upgraded engine, leather seats, fog light, premium dashboard...
How much extra would make it a worthwhile deal...

Nov 24th, 2015 11:48 am

uber_shnitz: Deal Fanatic; Nov 6, 2010; 9866 posts; 1812 upvotes; Montreal, QC

Nov 24th, 2015 11:48 am

indca wrote: ↑Guys what about buying loaded used vs buying base is it better value to get loaded trim level?

Value yes because you'll likely find them for similar price as a base new model (depending how old it is), but keep in mind that some options add mechanical complexity to the car which may affect reliability down the road.

Nov 24th, 2015 11:59 am

indca [OP]: Deal Addict; Jan 23, 2006; 1730 posts; 215 upvotes; Toronto

Nov 24th, 2015 11:59 am

What is a good website to check car depreciation and resale value over the years to get best idea on what's a good deal out there...

Nov 24th, 2015 12:00 pm

i6s1: Deal Expert; Feb 9, 2003; 19145 posts; 3366 upvotes; 9347934 downvotes

Nov 24th, 2015 12:00 pm

I go for them as the warranty comes up. Lots to chose from because a lot of people dont like to be without a warranty. About 4 years old with about 100k. Keep till about 200k. At this point you'll buy for about half the new price and sell for about 1/4. So you'll spend about 25% of the value of the car with minimal repairs. They're still new enough to have good reliability.

Nov 24th, 2015 12:01 pm

uber_shnitz: Deal Fanatic; Nov 6, 2010; 9866 posts; 1812 upvotes; Montreal, QC

Nov 24th, 2015 12:01 pm

indca wrote: ↑What is a good website to check car depreciation and resale value over the years to get best idea on what's a good deal out there...

http://www.canadianblackbook.com/
http://www.vmrcanada.com/canada_makes.htm

Those are estimates though, so I'll usually supplement those estimates by browsing kijiji or autotrader in my area for similar cars.

+1

Nov 24th, 2015 12:01 pm

i6s1: Deal Expert; Feb 9, 2003; 19145 posts; 3366 upvotes; 9347934 downvotes

Nov 24th, 2015 12:01 pm

indca wrote: ↑What is a good website to check car depreciation and resale value over the years to get best idea on what's a good deal out there...

Kbb and canadian black book.

Nov 24th, 2015 12:04 pm

indca [OP]: Deal Addict; Jan 23, 2006; 1730 posts; 215 upvotes; Toronto

Nov 24th, 2015 12:04 pm

Is buying in January means a whole year of depreciation has occurred? What is the timeline and at what time is it considered a time has come for cars depreciation?

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