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This is one of the age old questions. One that has been vigorously debated among friends, family, and co-workers probably since the time of the Model-T. Is it better to buy new and spend the money up front so you will "know what you're getting" and not have to worry about salvaged titles, previous accidents, and shady used car salesman? Or, do you save the money by buying used and pray that the engine doesn't blow up before you get the car home? Well, when it comes to any major purchase I tend to apply the same principles, whether I'm purchasing a car, a house, or a new computer (For me anything over $100 is considered a major purchase). The first and most important principle is DO YOUR HOMEWORK. This seems obvious but it has to be said. If you are just out running to pickup some lunch for the kids and you pass by that corner dealership and decide to "look around" you are at the mercy of the next commission hungry sales person that comes trotting out in their shirt and tie with a contract in hand. You need to prepare for your purchase like you're preparing for battle, and your armor is knowledge. So, why should you listen to me? I have privately bought and sold A LOT of used cars in all different makes and models and I have paid cash for all of them. That's right, I've never had a car payment! Let me tell you there is a freedom in that. Over the last 15 years that I've been driving, I have been able to sock that money away. Now, these haven't been cars that would turn heads, but they're not junk either. Don't get me wrong there has been some trial and error dealing with used cars, but I believe it is well worth it in the end. After doing the math on what I would have paid if I had gone to dealerships for my vehicles it is a no-brainier. One thing my experience has taught me is once you find a type of vehicle you like, learn everything you can about it, and stick with it. Every model has certain strengths and weaknesses. One member of my extended family has purchased nothing except Toyota Camry's for the last 12 years, he knows everything about them and can anticipate and needed maintenance well ahead of time and save a ton of money by shopping around. Personally I have chosen the Jeep Grand Cherokee as my vehicle of choice. I have owned four Jeeps and currently have two in my possession, all bought from private owners. One has 198,000+ miles and the other is close to 115,000 miles. Original engines in both of them. The reason they have lasted so long is because I knew what to look for when I bought them and made sure that the standard maintenance had already been taken care of. Now, I know most people aren't "gear-heads" and neither am I, but you really don't have to be if you focus on one or two types of vehicles and become an expert on them. When buying from private party it may take awhile before that right deal comes along, but you have to be diligent, search the papers, search the Internet, make the calls, and do the test drives. Don't think it as a waste of time, think of it as a job, because if you end of saving $3000-5000 on your purchase for a couple weeks work, that's not bad. So, in conclusion, if you want to save money(a lot of money), you are willing to do some homework, and be patient waiting for the right deal, then used cars are for you.

Learn more about this author, Jarod Heady.
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