I admit to being very leery about our new Rav4 bought 3 mos ago as it's loaded with tons of electronic crap and keyless start. It's like driving a computer. The difference is that I can rebuild my computer or replace its parts for a lot less if something goes wrong. We love the car now, but time will tell if it will still be around in 14 years like our 04 Accord that's still on on the road. But at my age, I doubt I'll still be around in 14 years.
New car time. Do you buy new and plan on keeping them a long time?
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I admit to being very leery about our new Rav4 bought 3 mos ago as it's loaded with tons of electronic crap and keyless start. It's like driving a computer. The difference is that I can rebuild my computer or replace its parts for a lot less if something goes wrong. We love the car now, but time will tell if it will still be around in 14 years like our 04 Accord that's still on on the road. But at my age, I doubt I'll still be around in 14 years.
Ha! I mentioned that part of the reason I bought new last time was to make sure I got the cutting edge electronic crap. The car I got, a bit over a year ago now? A 2017 RAV4 Limited hybird with all electronics including the optional 360 degrees view. I, too, was skeptical of the keyless start--more than once my wife has left me in the street stuck in traffic driving her Lex, while she walks off to, say, check on friends we were supposed to meet at a restaurant, with the "keys," which means the car stops working when she is far enough away. But I love every bit of the electronics now, including the keyless start. Only problem is that I am not sure I am safe to drive a car anymore that does not constantly monitor whether I am going to hit another car or a pedestrian, or that does not show me exactly where I am in relation to a curb or a parking lot pillar.
Notice in the NBR video above that despite these electronics Toyota is at the top of the reliability ratings. As I understand that video and other sources the reliability problems are coming from "under the hood" and may or may not be due to advanced electronics there, but not from the electronic things we are both liking about the RAV4. I personally would hazard a guess that the electronics were are talking about on the RAV4 are going to out last the moving parts stuff and may not be so expensive to replace, if they every needed replacing. I do think it is true that replacing a bumper that is loaded with sensors of various types when crushed in an accident is going to be a magnitude higher of expensive than a plain bumper. Actually my RAV4 has very advanced electronic stuff for the hybrid feature, but as I understand it, because of Toyota's long experience with Prius, those electronics are very solid.
As I read the Consumer Reports materials the NBR video refers to, US manufacturers are suffering reliability hits where they has come up with things like new transmissions and turbochargers. I would also never buy car model that has just come out or which has just undergone major mechanical changes. And there is no doubt that some models of cars never do manage to achieve reliability even though manufactured by highly reliable manufacturers. I am looking at you BZR/FRS!
Also a lot of that extra tech will come down to choice. Yes, some features are critical to function and could leave you stranded. But if the backup camera breaks, bluetooth stops working, rain sensing wipers crap out, etc. Well, whatever. Anything that doesn't affect the ability of the car to drive normally is at your discretion if it's worth the cash to fix.
Rhody
I'm a Lumberjack.
I had the thought....oh boy whats the post warranty repair cost. as i watched the third row split seats automatically fold down and then do a somersault to create flat cargo area. Of course the third row is split so each side flips and flops when one folds over and turns and comes in contact with an empty plastic water bottle on the floor it stops automatically and completely reverses course. The two buttons were also tempting to press and watch the show.
I absolutely adore keyless start. I've enjoyed when I got my '06 Highlander, and I've been enjoying it ever since. It was actually somewhat odd when I had to insert a key into the steering column of the Hyundai rental I had last weekend. It was even odder when I had to remember to take it out! 
My wife and I just bought a new VW Alltrack about a month ago. She's always wanted an Audi Allroad but the stickers on those are twice what we paid for the Alltrack. So far we are really happy with the car. It's our first new car in 10 years. We've got three other cars all with over 160,000 miles on them. I have an Audi A4 that I bought new in 2002, but it is in need of some work. If I were going to buy a new car for me it would be a GTI.Brought home a brand new 2018 GTI last Sunday to replace the 2007 model I had
I feel like a kid in a candy store with all the new tech. Weird switching back to an automatic, but the DSG is pretty spiffy. With the financial beating VW has taken from all the diesel nonsense I think they really want to move cars, so can't complain to a good price deal and a 6 year 72k mile warranty. If I can get minimum of 8-10 good years out of it that's good with me!
I buy new and drive them until their dead...usually when the cost of a repair exceeds the value of the car. I once read an article in Consumer Reports that said to get your moneys worth from a new car purchase you should plan on keeping it 10 years.
I told our adult kids that the reason we bought a loaded 2018 RAV4 Limited was so that we got to spend some of our money before they did. I think ours has everything except hybrid and 360 view. We may never figure out how to use most of it, but no regrets. Unlike the 2005 Ody we just sold and our 2004 Accord, it's got a warranty for the next 3 years.
I did 8 years in car sales.
My recommendation would be to stay away from leases unless you're going to change out cars every couple of years and have to have something new each time. As someone else noted, there can be some benefits for businesses, but those most likely don't apply here. Basically, on a lease you're agreeing to a fixed value for the vehicle 2 or 3 years down the road and then paying down the depreciation to that value in payments with some profit and interest thrown in. Bear in mind that the 1st year depreciation is the worst.
Because of that initial hit, I'd stay away from brand new as well. Nothing wrong with a new car, but you're going to lose 20% of the value in the first year, give or take, depending on the brand. Interestingly, luxury brands often have some of the worst initial depreciation of all. So, the way I look at, you could get a brand new 4-Runner or an equivalent model Lexus, Infiniti or Benz 1-2 years old with low miles.
Certified Pre Owned cars can be a good deal, just be aware that there is no magic going on here. They go through basically the same inspection as any other used vehicle at the dealership and, if they meet the mileage/year requirements of the manufacturer, they get an extended warranty slapped on them and "CPO" sticker. This is not necessarily a bad thing as, depending on the brand, that warranty may be somewhat discounted. Bear in mind that sometimes, however, you can find the same vehicle at a different manufacturer's dealership for less and simply buy and extended warranty - e.g., there might be a Nissan dealership selling the aforementioned 4-Runner for a lot less than the Toyota dealership simply because it's not a CPO.
My recommendation would be to stay away from leases unless you're going to change out cars every couple of years and have to have something new each time. As someone else noted, there can be some benefits for businesses, but those most likely don't apply here. Basically, on a lease you're agreeing to a fixed value for the vehicle 2 or 3 years down the road and then paying down the depreciation to that value in payments with some profit and interest thrown in. Bear in mind that the 1st year depreciation is the worst.
Because of that initial hit, I'd stay away from brand new as well. Nothing wrong with a new car, but you're going to lose 20% of the value in the first year, give or take, depending on the brand. Interestingly, luxury brands often have some of the worst initial depreciation of all. So, the way I look at, you could get a brand new 4-Runner or an equivalent model Lexus, Infiniti or Benz 1-2 years old with low miles.
Certified Pre Owned cars can be a good deal, just be aware that there is no magic going on here. They go through basically the same inspection as any other used vehicle at the dealership and, if they meet the mileage/year requirements of the manufacturer, they get an extended warranty slapped on them and "CPO" sticker. This is not necessarily a bad thing as, depending on the brand, that warranty may be somewhat discounted. Bear in mind that sometimes, however, you can find the same vehicle at a different manufacturer's dealership for less and simply buy and extended warranty - e.g., there might be a Nissan dealership selling the aforementioned 4-Runner for a lot less than the Toyota dealership simply because it's not a CPO.
I'll buy new or used, depending on the deal I can get and drive it until the engine falls apart. If I can't get at least a decade out of a vehicle then something has gone terribly wrong. I never lease.
Currently have a 2005 Ford Ranger (174k miles) that only recently started to give me issues, necessitating me to buy something else. I kept the Ranger and plan on trying to fix it myself, but needed something reliable in the meantime. Luckily a friend of mine gave me a good deal on his 2014 Toyota Camry (39k miles). I figure the Camry should be good for at least another five years, hopefully 10+.
Currently have a 2005 Ford Ranger (174k miles) that only recently started to give me issues, necessitating me to buy something else. I kept the Ranger and plan on trying to fix it myself, but needed something reliable in the meantime. Luckily a friend of mine gave me a good deal on his 2014 Toyota Camry (39k miles). I figure the Camry should be good for at least another five years, hopefully 10+.
The answer will depend on how many miles do you typically drive? Many lease prices shown are for less than 10,000 miles a year. If you go over, it can vary on overage pricing per mile. I think mine was $0.05/mile over lease limit. I did a 19K/year lease, and went over by a couple hundred miles. But, I had planned to purchase the vehicle anyway, so doesn't matter.
If you drive few miles a year, and aren't sure you'll like the vehicle, then leasing may be the best option. If you're like me, where you buy a vehicle and then drive it into the ground, purchasing is the way to go. Sometimes it's cheaper to lease then buy. Other times, buy and sell to private party to get your next vehicle. Most times, trading in a vehicle won't get you it's real value.
I would not lease(fleece). From the point you drive off the lot, there is every opportunity for the vehicle to cost you more money. Every time it gets dinged in a parking lot, it's going to cost you money. If you drive it too much, it will cost you money. Think of it as being given the chance to be screwed twice. Note: My father and grandfather both owned dealerships. My dad's words when he was working for a leasing company: You lease bulldozers, not cars.
I only buy used. The last car I found was an Acura with a ! in the Carfax. I always look at those. You look for a car that has been rear-ended and was drivable. They have to deeply discount those to get them off the lot. If you are willing to do your own work, you can keep a car almost indefinitely.
I only buy used. The last car I found was an Acura with a ! in the Carfax. I always look at those. You look for a car that has been rear-ended and was drivable. They have to deeply discount those to get them off the lot. If you are willing to do your own work, you can keep a car almost indefinitely.
New & run them for 10+ years. Wife's Subaru is payed off in Dec, no car payments for a couple years, then a new pickup will be replacing my 2003 Dodge 2500.
My wife and I are retired. We bought a new car in July, because out two old cars were getting less trustworthy for long trips. Last month we got rid of our 05 Ody with over 100k because lots of little (but expensive) things were going wrong, deciding to hang on to our 04 Accord V6. Although the Accord had less than 45k miles, it looked beat. It sat in the driveway and was rarely driven. It hadn't had the oil changed or been washed in 3 years, waxed in who knows when and the interior was covered in dust. This week I spent $1400 at Honda getting it repaired and another $200 getting it detailed inside and out. The car looks and drives like it's brand new. Needed repairs are one thing, but having it detailed was the best $200 I ever spent on a car.
That's about what I do. About a month and a half ago we bought a 2015 Chevy Spark EV with 16000 miles that came off a three year lease. This replaces a 1998 VW Jetta with 215000 miles that was about the same age and mileage when we bought it, if I recall correctly.
Mac, I think that the driving position in the Spark is pretty good and I would go ahead with the test drive.
Buy one and drive it into the dust. Otherwise there is no way you are doing anything but setting fire to your $$$.
I buy cars new and keep them until they hit 200K miles. As far as leasing vs buying, if you only keep a car for a few years, leasing is the way to go. About cars with modern electronics and the fear of something going wrong, theres always a chance for something to go wrong with any car and even if you have to spend some money on repairs, its still cheaper in the long run to keep a car for years and years and hopefully have no car payment than to constantly have a new car and have a car payment.
But isn't that what happens when you constantly lease?
Lots of new cars/mini-vans while raising kids but now no need - luv no car payment. Still using a 2001 Ranger 122K and a 2002 Yukon 97K. Most likely will have to replace the pickup some day but the Yukon may go the distance since the wife is now retired and putting on church type miles.
I had always bought new and kept vehicle around 9-10 years. The last new one I got was a 2003 F250 diesel, and it is just really getting broken in good and looks like new. A few months after we got it my wife and a Ford Taurus and had a broken engine mount for the 3rd time, seemed to be a recurrent problem on that model The dealer loaned us a 2000 Grand Marquis, and we liked it so well we traded for it and it's still going strong. Just did some front end work and had noticed a little miss and had to replace one ignition coil, and went along and stuck in new spark plugs while they were at it. Neither vehicle is high mileage, so look at those as relatively minor repair bills, much less than 3-4 months of car payments. I do all recommended service on schedule, and run synthetic oil in both, plus the diesel has a bypass oil filter installed which gets a lot of soot out that would otherwise keep circulating.
