Replacing car: new or used?

[moostash]

DW and I have always driven used cars. Our current car (2010 Honda Civic, purchased in 2017 for $6k) has been having more frequent issues, and we miss the haul capabilities of the minivan we drove before, so we’re considering replacing it.

Given the price of used cars, one option we’re looking at is a new Honda CR-V, which after taxes might run us about $30-37k. Is it facepunch worthy to buy a new car? We would love to hear some perspectives on this.

Some details specific to us: we’re on the cusp of reaching our chubbier FI number. (current invested assets: $3.7m). We don’t drive too often but when we do it’s either to haul stuff, which is why we want the bigger vehicle, or to visit family (1-3 hours away).

[JAYSLOL]

I would tell about 99% of people to stick it out with the civic or buy an older used minivan or CRV for ~$10k, but for people with $3.7m, I say it’s perfectly fine to buy a brand new CRV if you want to.  Yeah, a brand new car is a bit of a luxury, but it’s an extremely reasonable luxury when it’s a Honda and you have multiple 7 figures kicking around.

[RWD]

Yeah, you'll be fine with whatever you choose. Have you looked in to EVs? I believe Honda has recently launched the Prologue.

[GilesMM]

Why not another minivan? Great for hauling, good mpg, low profile and long wheelbase.

[Paper Chaser]

CR-V hybrid gets great reviews, is very efficient for the package and seems pretty reasonable for a multi millionaire to drive.

[roomtempmayo]

I think in the current Toyota/Honda market, buying new still makes sense.  There isn't a big enough discount for buying something off lease, so I'd just pony up for new and then be set for the next 15 or 20 years.

[cangelosibrown]

Definitely agree with others and give you full permission to buy a new car.  The other nice thing about getting a new car (assuming you're not in a hurry, which it doesn't sound like you are), is that that you can order and get pretty much exactly the options you want

[moostash]

Appreciate the comments, everyone. We’re still deciding but hearing from y’all that it’s not facepunch worthy gives us confidence that we’re not being completely irresponsible. We don’t own a home so this will be, by a wide margin, the largest purchase we’ve ever made.

Yeah, you'll be fine with whatever you choose. Have you looked in to EVs? I believe Honda has recently launched the Prologue.

We love the idea of an EV, but unfortunately we live in a city with street parking only, so charging is a concern of ours. We’re thinking of going with a hybrid.

Why not another minivan? Great for hauling, good mpg, low profile and long wheelbase.

We love minivans! We’re considering a CR-V because we’ve never had an SUV and are interested in trying something new out. We plan to do a test drive, or maybe rent one for a day trip, before buying. If we’re not fans of it I could definitely see us going with a minivan, or maybe a hatchback (we’ve never owned a hatchback either).

Definitely agree with others and give you full permission to buy a new car.  The other nice thing about getting a new car (assuming you're not in a hurry, which it doesn't sound like you are), is that that you can order and get pretty much exactly the options you want

Yeah, we’re definitely not in any rush. We saw that the wait times might be a few months based on a few example builds we configured, which we’re totally fine with.

It may be some time still before we make a decision but I’ll try to remember to post an update here once we choose! Thanks again, folks!

[oldtoyota]

We bought a new car recently and had the same question you did. We ended up choosing new because we plan to keep the car 15-20 years.

As you can tell from my user name, we drive Toyotas. Our previous cars are 14 and 21 years old. Since one car is old enough to drink alcohol, we felt a new car was okay to buy.

Really fun to have backup cameras and all the fancy gadgets.

[Dee18]

I’ve had my hybrid CR-V a year and love it.  My prior car was a 19 year old Honda accord.  I chose the crv over a rav4 because the crv was so much quieter in the test drives (and the fake leather in the rav4 made my partner and me feel ill, but I think we are more sensitive to chemicals than most people).

[LightStache]

I think in the current Toyota/Honda market, buying new still makes sense.  There isn't a big enough discount for buying something off lease, so I'd just pony up for new and then be set for the next 15 or 20 years.

I second this. I needed a new car recently and negotiated a 2021 Rav4 hybrid with 30K miles for $34K. A new one with base trim was $39K. With only a $5K difference, I figured the new one was a better value.

[oldtoyota]

I think in the current Toyota/Honda market, buying new still makes sense.  There isn't a big enough discount for buying something off lease, so I'd just pony up for new and then be set for the next 15 or 20 years.

I second this. I needed a new car recently and negotiated a 2021 Rav4 hybrid with 30K miles for $34K. A new one with base trim was $39K. With only a $5K difference, I figured the new one was a better value.

The RAV4 was on my short list. How do you like it?

[Sandi_k]

I think in the current Toyota/Honda market, buying new still makes sense.  There isn't a big enough discount for buying something off lease, so I'd just pony up for new and then be set for the next 15 or 20 years.

I second this. I needed a new car recently and negotiated a 2021 Rav4 hybrid with 30K miles for $34K. A new one with base trim was $39K. With only a $5K difference, I figured the new one was a better value.

The RAV4 was on my short list. How do you like it?

Not the poster you asked, but I bought one in 2019. Hybrid, Limited trim level.

It's a solid car. My three nitpicks are that

1) there are a couple of rattles/squeaks in the dash,
2) the 4 cylinder engine takes some coaxing when merging on the freeway here in CA, and
3) the front passenger seat does not have electric controls - it's a manual lever for the seat to move back and forth on its track.

It's our main family car, and we frequently use it for road trips to see family. Both DH and I have had spinal surgery, so comfort is important. We can be in the car for a 350 mile trip, and not be very creaky or sore when we arrive.

I like having CarPlay, the AC is good, and the Limited trim has AC vents in the rear, as well as seatback angle adjustments possible. There is also a USB charger port in the rear seat, and a DC plug in the cargo area, which is nice. The Limited trim also has good sensors, and a tech 3D display when parking. Heated and cooled seats, dual climate zones, and cargo door opening by waving a foot under the rear bumper.

Its biggest advantage: in 4 years and 9 months (and 85k miles!) I've averaged 39 mpg. (My mileage is downgraded when DH drives; I average 42 mpg in my commutes).

It is a bland vehicle, but it does well in the areas I bought it for: mileage, comfort, and ease of entry and exit for my now-87-year-old mother.

[LightStache]

I think in the current Toyota/Honda market, buying new still makes sense.  There isn't a big enough discount for buying something off lease, so I'd just pony up for new and then be set for the next 15 or 20 years.

I second this. I needed a new car recently and negotiated a 2021 Rav4 hybrid with 30K miles for $34K. A new one with base trim was $39K. With only a $5K difference, I figured the new one was a better value.

The RAV4 was on my short list. How do you like it?

It's OK.

On the downside: 1) there are no auto headlights, which I didn't think I needed to ask about, 2) both seats are manual, 3) the display screen is small than I expected, 4) the interior feels cheap, and 5) there's a mystery rattle that I'll need to figure out.

On the upside: 1) It's quiet, 2) computer reported gas mileage seems good, 3) power is sufficient, 4) great interior space, 5) the auto cruise control is decent.

In retrospect I probably should have leased a Crosstrek for my particular situation for the next three years. At $39K all-in I have a bit of buyers remorse...but I'm also cheap haha.

[Sandi_k]

@LightStache - what trim level is your RAV4? I have auto lights, and the driver's seat is powered (although the passenger seat is not).

I agree with random rattles. Display screen size is fine for me, and the interior feels less cheap than other options, such as the CRV and the Subaru Legacy)...

[LightStache]

@LightStache - what trim level is your RAV4? I have auto lights, and the driver's seat is powered (although the passenger seat is not).

I agree with random rattles. Display screen size is fine for me, and the interior feels less cheap than other options, such as the CRV and the Subaru Legacy)...

It's the LE, lowest trim level.