What is better to get a used car or a monthly payment new car? - answer! Answers

What is better to get a used car or a monthly payment new car?

I'm a first time car buyer and im trying to determined which is better. Folks want me in something safe and suggest i go with new car with monthly payments. friends say i should get used car for 1st car.

New: safe, but having Monthly payments that would be about 150-200 a month

used:im looking at 3000-5000 and i have to worry about it's history and ETC as well.

Lets here your point of view. I will pick best answer :D
  • 6 months ago
Dick by Dick
Member since:
February 26, 2010
Total points:
130 (Level 1)

Best Answer - Chosen by Asker

Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool - carinsurance.deep-ice.com
  • 6 months ago
Asker's Rating:
3 out of 5
Asker's Comment:
thanks
You will not get loan for 3-5000 car no where. Pay cash. You must be thinking of buy (lease) here pay here where they charge 3-5 times retail to get interest in a legal way and are junk. You also have to meet requirments. 1500.00 amonth w/YTD stubs, same home w/2 utility recipts 4 1 year.

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