Hi Friends, I need a SUV and currently have two options: one is the 2015 New Escape(FWD S) $20152 (MSRP $23855) from autopriceshare program. The other is a 2014 second-handed Escape(FWD SE, 25000 miles) $18050.
I am not familiar with the used car price. In your opinion, which option is better, New 2015 Escape or used 2014 one?

 

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Do your research and make your own decision.

 

20grand vs 18grand..

One of my biggest life mistakes was going into 5-digit debt for a car.. I was 22 years old, now I'm much wiser.

My wife and I got our current car (2010 Escape 3.0) a year ago for about $10,000 debt. Tremendously regretting it (the new debt) all the while.

Part of the reason is because her previous car (the $20,000 one that I got new in 1999) was dying- 220,000 miles and very unreliable in its old age. That car, and other debt, was a large part of the cause of our financial instability.

I say buy neither, unless you can buy it withOUT debt.

If you can pay IN FULL, then it doesn't matter- just buy whichever one tickles your fancy.

Just keep in mind: there's a lot of real nice vehicles for $10,000.

 

Putting money aside, two thousand dollars difference between a new car with factory warranty vs a used car with no warranty is, IMO, a no brainer. If you can get a factory extended warranty on the used vehicle and you want the features of the SE, perhaps. I would think there are many more options available. Debt for a car is not good debt but worse if you wind upside down. If financing is a mandate, check interest rates, total cost of ownership.

 

If you do not get bit with the 'new car bug', and will keep your vehicle for a good long time, then purchasing new is a good thing in that you know the previous history- none. You get to break it in, do the first oil change, etc.
If you plan on selling in a shorter timeframe, buying used will avoid a ~20-25% hit that the first owner took when s/he drove off the lot.
Total cost of ownership changes with either decision. That said, I'd prefer new with no miles to used with 25,000 miles. The used would have to be in excellent shape for me to consider it, and I would try to get the dealer to add in an extended warranty at a discount. All warranties are retail products, with markup and profit built into the price the dealer quotes. You can get a Ford extended warranty and it will be good nationwide, and you can ask for a discount on its price.
tom

 

bought the used one last week, thanks, friends

 

Congratulations on buying the 2014 S model. I have the exact same car. 2.5L, no options except for the Weathertech vents and custom mats throughout. It has been a great car so far. We look forward to hearing about how the car treats you. You just need to treat it right!