Do I Buy a Brand New Car or a 10 Year Old Car?

ayass3 on 08/05/2022 - 16:07
Last edited 09/05/2022 - 17:05

I will be retiring my 1998 Toyota Camry and buying a new car in the coming months. The plan is that I will keep the new car for the next 10-12 years and drive around 15,000km per year (so around 180,000kms all up).

I can either buy a cheaper 10 year old Mazda 3 with around 130-150,000kms. My concern is that in years down the track there will be repair and maintenance issues given the time period I plan on keeping the car for as it already has high kms. Not sure if it will even last me. I won't be buying another car unless I'm in a crash and insurance pays me out.

Alternatively, I can spend a bit more and put an order in for a brand new Mazda 3 with warranty and no kms on the odometer. I don't care about the long wait times for new cars because I'll drive around in my current Camry until it arrives and then sell it.

Which should I do from a mechanical perspective?

UPDATE:

I've put in an order and paid a deposit for a new Mazda 3 sedan this afternoon. Was told it will be approx 4 month wait. This will be the first and last brand new car I own so quite excited.
Per the suggestions on this forum, I will try and sell the Camry privately instead of trading it into the dealership.
Thanks to all.

Poll Options

  • 37
    Buy the used Mazda 3
  • 307
    Order brand new Mazda 3
Automotive Car Mazda

Comments

    • Oofy Doofy on 09/05/2022 - 11:05

      Ford sells the mach-e crate motor for cheap. All you need are the batteries and someone to install and certify everything.

      Soon enough there will be little excuse to not keep old faithful running.

      • Euphemistic on 09/05/2022 - 12:04
        +1

        Just the cost that’s stopping us so far. A budget, short-ish range conversion will set you back around $15k. Batteries are the most expensive bit.

        I’m keen for an electric classic one day.

  • pharkurnell on 08/05/2022 - 17:45
    -1

    Can you even get your hands on a new one at moment? But anything is better than a camry

    • WhyAmICommenting on 09/05/2022 - 15:54
      +3

      You’re on the wrong website to say that about Camrys.

    • ayass3 on 09/05/2022 - 17:08
      +5

      Must say Camry was a very reliable car.

      Just over 305,000kms

      • Jackson on 09/05/2022 - 21:53
        +2

        And probably still runs like a Swiss watch. Is there a 3rd option for keeping the Camry a couple more years and waiting for EVs to reach parity with ICE vehicles? It's only 2 to 3 years away

        • jsrz18 on 09/05/2022 - 22:07

          More like 10 years.

          • Euphemistic on 10/05/2022 - 05:33
            +1

            @jsrz18: It’ll be more like 2-3 years if you include fuel costs for the first couple of years in your calculations.

            • jsrz18 on 10/05/2022 - 18:38

              @Euphemistic: Depends on the car.

              If you're comparing to some shitty chinese electric car, then yeah 2-3 years is probably viable.

              • Jackson on 10/05/2022 - 20:27

                @jsrz18: Those shitty Chinese cars are more reliable than most euro ICE vehicles, solely due to the fact they are almost as simple as a kids toy.

          • greatlamp on 10/05/2022 - 07:40
            +2

            @jsrz18: Japan is banning ICE vehicles by 2030.

            The big euros have announced they are no longer investing in r&d on fuel engines.

            In 10 years you won't be able to buy a decent ICE vehicle, but a decent mainstream electric car won't take that long with all the manufacturers now racing to put out new models.

            • Euphemistic on 10/05/2022 - 08:56
              +2

              @greatlamp: Watched a video of the top 30 models of EV available in the UK. Australia with a handful of models is so backwards it’s not funny.

    • MrFrugalSpend on 09/05/2022 - 22:52

      wash your mouth out with soap .
      Anything is better than a camry?
      You could not be more wrong.

      Had half a dozen cars - camry easily the best, kept it for 10+ years - bulletproof

    • maverickjohn on 10/05/2022 - 07:09
      +1

      It probably was one of the worst driving experience I have ever had in a car…but it works.
      It's a boring but reliable drive

  • serpserpserp on 08/05/2022 - 18:10

    Buy an MG EV

    • JimmyF on 08/05/2022 - 20:35
      +10

      He wanted the car to last 10 years at least!

      • serpserpserp on 08/05/2022 - 21:28
        +1

        It'll still work, range might be 50km per charge, but it'll still work.

        • Jackson on 09/05/2022 - 21:54

          It's got a cooled battery, so range will be a lot higher than that

    • LowRange on 08/05/2022 - 23:52
      -2

      Still a bit costly, I'd get a petrol MG for $30k

      • Euphemistic on 09/05/2022 - 07:43
        +9

        Spend your $30k on something with better resale value.

        • WhyAmICommenting on 09/05/2022 - 15:55
          +1

          Or better quality and reliability.

          • Euphemistic on 09/05/2022 - 15:55

            @WhyAmICommenting: I think you meant AND better quality and reliability.

          • LowRange on 09/05/2022 - 17:50

            @WhyAmICommenting: Have you owned one of the new MG's? What has better quality and reliability for $30k? You wont find a better new car for the money, especially with a 7 year unlimited k warranty and fixed price servicing.

            • WhyAmICommenting on 09/05/2022 - 20:03

              @LowRange: Kia or Hyundai would be a good bet.

              • LowRange on 09/05/2022 - 23:11
                -1

                @WhyAmICommenting: Yeah nah, my aunts Hyundai is sitting in her yard after a catastrophic engine failure with about 150k on the clock. They recalled millions of them due to the Theta engine crackshaft being badly ground, except in Australia they dont want to know about it despite having full dealer logbook servicing. http://www.hyundaiproblems.com/theta-ii-engine/

                Their quality is not as good as the MG.

                • WhyAmICommenting on 10/05/2022 - 06:56

                  @LowRange: I didn’t neg. Interesting to hear.

                • ctg on 10/05/2022 - 14:46

                  @LowRange: Something not owned or out of China would be a smart move.

                  • LowRange on 10/05/2022 - 15:28

                    @ctg: Yeah last time i done that and bought a VF Redline, Holden shut up shop after hundreds of millions of tax dollars.

                    So you say something out of China, and what would that be exactly? Remember, regardless where a brand is based or assembled almost every part in the car was made in China.

        • pharkurnell on 09/05/2022 - 16:39

          Spend your $30k on something with better resale value.

          Like lots of slabs of booze.. the empty bottles would be better value in 10 yrs

  • SF3 on 08/05/2022 - 18:12

    Most light vehicles more than 5 years old need a yearly safety inspection report

    If in NSW ( others comment on other states / territories), no pink slip required until the 6th year.

    • Euphemistic on 08/05/2022 - 19:15

      This makes stuff all difference to maintaining a vehicle. True, it’s a bit inconvenient to have to get an inspection once a year, but it doesn’t cost much and a reasonably well maintained vehicle will pass easily.

    • 00broke00 on 09/05/2022 - 16:07

      What's this pink slip thing/yearly safety inspection? I'm in Perth and have never heard of it

    • greatlamp on 10/05/2022 - 07:42

      In other states you can drive your death trap as long as you like. Pink slip is NSW only afik

  • cashless on 08/05/2022 - 18:19
    +4

    Keep the Camry

    • altomic on 08/05/2022 - 18:40

      unless you need to spend big money on it.

    • jsrz18 on 08/05/2022 - 19:26

      Better to sell it at a price higher than its actual worth.

    • outlander on 08/05/2022 - 19:38

      My votes for this too. In another two years, things will have settled down, and either used cars will be much cheaper or new cars will be easier to get.

      • ayass3 on 08/05/2022 - 19:45
        +2

        If things settle down in the future, then I won't be able to make as much money from my Camry as I could make from it now.

  • ayass3 on 08/05/2022 - 19:35
    +2

    OK thank you I'll put in an order for a new Mazda 3 this week.

    Do I need to give the dealership my Camry as trade-in when I do the contract, or can I just give them the Camry when the Mazda 3 arrives later this year?

    • Domicron on 08/05/2022 - 22:37

      When you pick it up.

      Wonder what tehy will offer for the trade in. Given new cars are barely discounted nowadays.

      • kerfuffle on 08/05/2022 - 22:53

        $10

        • polarq on 09/05/2022 - 15:22

          so generous!

    • Euphemistic on 09/05/2022 - 07:45
      +5

      Trade in is delivered when you pick up the new one.

      As for trading in, you’ve got some time to spare before the new one arrives. When you get a set date for the new one to arrive, advertise your current ride about a fortnight out and sell privately. Make do without a car until your new one arrives.

    • 819mac on 09/05/2022 - 16:07

      My advice would be to get some quotes from some of the "cash for cars" type places. They take them unregistered, so once you get the cash + pro rata rego and CTP refund you might end up better off. I recently got more than $1000 for a car with over 400k on the clock and less than 6 months rego remaining, compared with $250 for a trade in (and likely nothing for private sale)

  • SlowCarSlow on 08/05/2022 - 19:52
    +5

    Think of the safety aspect too. I wouldn't want to be driving an older car when a newer one is an option.

  • shorewalker on 08/05/2022 - 19:59

    These comments mostly come from a couple of mechanics I have had, but both reckoned Mazda was one of the few high-reliability brands out there. 150,000 kilometres does not seem to be huge mileage for well-maintained examples. My current mechanic has a Mazda courtesy car for clients with more than 600,000 (!) kilometres on the clock and is in startlingly nice condition, though of course it has had rigorous maintenance. I've also recently been in a Mazda CX-30 Uber with more than 250,000 kilometres on the clock which apart from a couple of marks on the back seat was hard to distinguish from new. New or used, the Mazdas seem like good long-term propositions. I've driven Mazdas but never owned one, though the MX-5 keeps beckoning …

    • Mechz on 08/05/2022 - 20:04
      +5

      Mechanic's cars always look good because it costs them almost nothing to maintain and the business absorbs the cost of any worn/broken parts.

      • Euphemistic on 08/05/2022 - 21:53
        +10

        Mechanics go one of two ways. Meticulously maintained or completely neglected. Not much in between.

        Plenty of mechanics buy cheap cars that ‘need a bit of work’ knowing they can fix them cheap - but they get busy with other work and just drive it til it blows up (which can be a surprisingly long time).

  • Pelicannn on 09/05/2022 - 02:08
    +3

    Why two extremes?

    200,000km is fine on a good Japanese car, especially Mazda, so why not look for a model that is a couple of years old, and perhaps up to 50,000km.

    You’ll save money, as well as have some of the more recent safety and technical features.

    New Mazda 3 base model will set you back over 30k today. Should be able to pick up less than 5 years old and 50,000km or there about for $20k depending on model, options and condition.

    • Euphemistic on 09/05/2022 - 07:47
      +5

      Problem with a couple of years old and 50k km is that prices are too close to new car prices.

      In case you haven’t heard, covid has affected new car delivery times, so demand for near new cars is very high and so are prices.

      • Pelicannn on 09/05/2022 - 12:17

        You’re right for Demo etc which are above new car prices. The above example was a quick search on carsales. Can easily save 10k and have 90% of the new car features with a model a few years old. Plus most of the early depreciation has been taken care of too.

        • Euphemistic on 09/05/2022 - 15:12

          Of course it’s a better option when you can find one.

    • Dr Prepper on 09/05/2022 - 10:43

      Are there a lot of Mazda Dealers on Ozbargain upvoting the brand new car purchase option?

      I'm in the "why two extremes?" camp.

      For me a brand new car is not always sensible especially if you cannot get some sort of tax deduction.

      • Euphemistic on 09/05/2022 - 20:05

        The two extremes (10yo or new) are based on current market. Almost-new cars are selling for close enough to new car prices that it’s worth waiting for a delayed new if you are in the market and can wait. People who need a ‘new’ car quickly are paying much more than historical rates to get something near new.

        Used car prices are higher due to increased demand from new car delays due to covid.

  • 82norm on 09/05/2022 - 08:51
    +1

    Treat yourself to a new car.

    • Euphemistic on 09/05/2022 - 08:54
      +1

      But only if you can easily afford it. If it’s a financial stretch, it’s not worth it for the ‘new car smell’.

      Anyone still driving a ‘98 Toyota will see a decent upgrade going to a 10yo car and recognise that older (reliable brand) cars still run fine.

  • OZBargainer in SA on 09/05/2022 - 09:47
    +3

    What are people's experience with Mazdas? I had a 2009 Mazda 6 Wagon and little things would wear out or need fixing when it was from 5 years old. I have had Subarus and Mitsubishis and they seem more durable. Mazdas are going upmarket but that's in no way the same as being durable or reliable.

    • JimmyF on 09/05/2022 - 09:56
      +2

      and little things would wear out or need fixing when it was from 5 years old

      Same….We had a Mazda in the family once, the key word was HAD… They are overrated and that family member went back to Toyota after trying Mazda, just lots of little issues with the car that Toyota doesn't seem to have for them.

      • WhyAmICommenting on 09/05/2022 - 15:59

        Even if issues are equal, Toyota is cheaper to fix.

    • Euphemistic on 09/05/2022 - 20:09

      I had a Mazda 626 that was well appointed and good to drive. Things did start failing while I had it so I didn’t keep it long. It was close to 15yo and had about 350000km on it though.

    • greatlamp on 10/05/2022 - 07:48
      +1

      Bad experience with Mazda, Toyota is bulletproof, mazda is just average, better than the flakey euro brands, but it doesn't deserve the Japanese halo.

      Of course it depends on the particular vehicle, I'm sure their commercial vehicles are very reliable as they are low tech.

      Mazdas sell because they look nice. I wouldn't but one. I'm going by experience of the last new car my family bought, perhaps they have improved.

  • dan2k on 09/05/2022 - 10:39

    how about ex-rental? 1 year old and 25% off. Lots of makes available.
    (and everyone knows rental cars don't need oil)

    • salmon123 on 09/05/2022 - 10:57
      +1

      1 year old and 25% off

      Where?

      • dan2k on 09/05/2022 - 11:21
        +1

        I used thrifty vehicle sales three years ago to get a i30 hatch that was 8 months old, 30k km, for $17k on road.
        That was a year before covid I'm sure their supply chain is screwed up now. But they are still selling cars - well I still see them on facebook posting for sale ads from time to time.
        @directvehiclewarehouse on FB. YMMV.

  • salmon123 on 09/05/2022 - 10:55

    I can spend a bit more and put an order in for a brand new Mazda 3 with warranty

    Do some more research on the Mazda first. They've been plagued with engine failures. It might come down to a specific engine variant.

    Mazda also got into trouble for misleading consumers on their ACL rights.

    • Euphemistic on 09/05/2022 - 20:12

      Plagued with engine failures? How did they rank second most reliable brand here
      https://www.canstarblue.com.au/vehicles/reliability/

      • salmon123 on 09/05/2022 - 20:15
        +1

        How did they rank second most reliable brand here

        Lots of these ratings and rankings are paid placement and the like. I haven't read the same about Toyota engines failing.

        • Euphemistic on 10/05/2022 - 07:03

          So you haven’t heard about Toyota D4D issues? I didn’t see any reference to frequent Mazda motor problems.

          Mazda overall are a reliable brand.
          https://www.mcnallyinstitute.com/how-long-can-a-mazda-engine…

          You can pick any brand and find problems. Overall though, the Japanese brands have a good reliability rating.

          I don’t hear any of the regular mechanics on here shouting ‘don’t buy a mazda’

  • Drakesy on 09/05/2022 - 14:22
    +2

    IMHO with Electric cars just on the horizon of being affordable i'd be getting a secondhand Internal combustion car and look at 3 years later upgrading to an electric car, which arguably will be more reliable (less moving parts and gas/emissions issues) and depreciate far less.

    With the added benefit of powering from PV panels at home. Technology already exists that can fully charge an electric car to 400km's in 15 minutes, with future battery technology looking at ranges of 1000km's+ which will rapidly outdate ICE cars.

    • WhyAmICommenting on 09/05/2022 - 16:04
      +2

      Australia is too small and too far behind. With our retarded governments who knows when electric will be worth it?

      • Drakesy on 09/05/2022 - 16:12
        +1

        Agree, our current government has made us a dumping ground for non-financially viable ICE cars while other countries have adopted and overtaken us.

        Norway is at 92% of all cars sold are now electric vehicles. We do have a lot of catching up to do.

      • Euphemistic on 09/05/2022 - 20:13

        With fuel at $2/l it’s a decent incentive to look at 40c/kWh

        • salmon123 on 09/05/2022 - 20:22

          Tesla jacked the price of their superchargers to 60c/kwh … a full charge at a super charger can cost more than a tank of petrol.

          Having said that, there's lot of slower chargers around that are cheap/free.

          • Euphemistic on 09/05/2022 - 20:35
            +2

            @salmon123: Even at 60c/kWh heir biggest SUV would cost $60 for a full charge from empty (100kWh battery pack). Try filling up a petrol tank from empty for $60.

            • Jackson on 09/05/2022 - 22:00

              @Euphemistic: No one charges out and about unless they have to, get solar and if you are retired you are charging for free

              • Euphemistic on 09/05/2022 - 22:05

                @Jackson: Yeah. I was pointing out that at a high rate of electricity it’s still a heap cheaper than petrol.

        • Drakesy on 10/05/2022 - 12:20

          I think its 20c/kwh at home for me if not on solar, even then an average sized 60kwh battery pack would cost $12 to go 400k's or $3 for 100k's

          which works out to ~1.75L/100k's, still way ahead of even the most fuel efficient ICE car.

  • Hahuh on 09/05/2022 - 15:25
    +1

    A little off topic.

    If I were to say buy a new car and it got delivered 1 year later, would I have paid for the previous years model or do they do something like a just in time manufacturing so that it'll technically be some late plate?

  • Herbse on 09/05/2022 - 15:54
    +1

    Keep the Camry

  • payless69 on 09/05/2022 - 16:16
    +1

    Why buy a stinker that in a few years nobody wants anymore?
    Go green: https://evdirect.com.au/

    • TEER3X on 09/05/2022 - 18:21

      I think there is much less of a carbon footprint if you buy an existing / used ICE vehicle and keep it for up to 5 years. It depends on the model and driving habits, etc, but there is an environmental impact of creating a brand new car.

  • ayass3 on 09/05/2022 - 17:04
    +4

    I've put in an order and paid a deposit for a new Mazda 3 sedan this afternoon. Was told it will be approx 4 month wait. This will be the first and last brand new car I own so quite excited.

    Per the suggestions on this forum, I will try and sell the Camry privately instead of trading it into the dealership.

    Thanks to all.

    • Fobsessive on 09/05/2022 - 18:19
      +2

      Great choice. How much?

    • payless69 on 10/05/2022 - 08:48

      Holy M! 4 months? By the time it arrives it will be legacy squared!

  • jsrz18 on 09/05/2022 - 17:55

    Congrats great choice

  • Zaxxon on 09/05/2022 - 18:37
    +6

    This post makes me laugh cause I had a mirror image experience. Got sledged by everyone …friends, family, wife, kids! as to why I keep driving this crappy car with the velvet interior drooping on my head. Finally bought a new car for the first time in my life (Hyundai Tuscon). Put the Camry on sale for $1200, …then $900, then $500. Sold it to a guy (that looked like a middle eastern Side Show Bob) that turned up in a Crappy Camry than mine! So it was an upgrade for him. Every time I see a white 1996 Camry on the roads I check the license plate for my old mate.

    • striker5950 on 10/05/2022 - 12:49

      i loved the detail about the side show bob lookalike

  • abuch47 on 09/05/2022 - 18:51
    +4

    keep the camry

  • CRS34 on 10/05/2022 - 00:30

    Get the new car. Youre planning to keep it for a while, itll have warranty unlike the old car. The old car will be a headache after a while with that many kms already

    Otherwise, keep the camry and drive it till it dies

  • bakemon0 on 10/05/2022 - 01:45
    +2

    where's the don't retire the Camry option

  • miicah on 10/05/2022 - 08:27

    The new Mazda 3 is such a good car, I'm sure you'll be stoked.

  • t_c on 10/05/2022 - 10:15

    Since no one wants to do the actual numbers, this is what a 30k corolla will end up costing over 5 years and 100k on oddo.

    6.3k per year. Or 31k over 5 years

    This is after you sell it btw, to claw back whats left of your capital. Assuming a 5 year old corolla should get 20k on the used market.

    days 1825
    klms 100000 Fuel L/100 Cost/100km
    fuel 1.75 5.1 8.925 8925
    klm depreciation 0.05 5000
    Daily Depreciation 2.7396 4999.77

        Intervals   Per Service Total

    Tyres 0.015 40000 600 1155
    Brakes 0 40000 600 1155
    Oil 0 10000 300 2310
    insurance 5000
    rego 3000
    31544.77

                6308.954
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