OT New car used car

Q.Most people don't know some very good cars are sold used at a very low price. One example is a caddy. You can pick up a very clean one around 5 to 7 years old that has never been abused with somewhat low mles for around 5k. The northstar engine has tons of power and gets very good gas mileage. These cars have at least 5 more strong years of use and should be able to be sold after 5 more years for over 2K. Overall they turn out to be a great buy. In general there just is not a new car on the market I feel like taking that new car hit for. I have already had my toy cars including, Jag XKE, caddy with a 472 engine, SC-Rambler, etc so I have already filled those mental needs. Now whenever we go somewhere I just pick up a car at Avis instead putting wear on one we own. In the long run I am sure we save a ton. what I am really trying to say is look at getting a used car instead of getting a new car payment. Any idea??

A.My cousin purchased a used caddy 2 years ago with the northstar (a 2000 which was 5 years old at the time) with less that 60K miles. It still looks near new runs great and has had no problems. He paid less that 5K for the car. Compare that to new car payments it seems pretty darn good to me. These cars with the Northstar powertrain are a disaster if you don't have a good warranty. They have serious oil leak and head gasket issues, and the repairs are very, very, expensive. The older ones have expensive trans problems also. And then there's the electronics - all expensive and very difficult to diagnose. And if you buy new, the depreciation is obscene. 1-2 year old Devilles were selling for about half price. There's a reason for that.

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