Should I get a 2021 Corolla for $23.3k or a brand new one for $26.4k?

I always pay cash for my cars. Here are my options:

  • 2021 Corolla Hybrid, 25k miles - $23.3k
  • Brand new Corolla Hybrid - $26.4k
  • 2023 Corolla SE (gas), 40k miles - $22k
  • 2020 Camry SE (gas), 10k miles - $24.5k

All are out-the-door prices and have a clean Carfax.

Which one would you go with?

I’ve seen clean title used Corolla hybrids going for around $15k on OfferUp.

Just get the new one. Easy decision.

New one for sure.

If the price difference is that small, I’d go new. That’s what I did with my car. I originally looked at a used 2019 or 2021 (don’t remember exactly), but when I saw how close it was to a brand-new one, I just bought new that same day.

Used car prices are still high after the pandemic. A new one makes more sense.

I was in the same boat and ended up going with a new one. If you have a Costco membership, check their pricing—could save you some money.

If you’re paying cash, the 2021 might make sense since you avoid interest and could have lower insurance. But if you’re financing, the new one will probably have a better rate, plus warranty and peace of mind as the first owner.

Go new, no question. And don’t trust Carfax too much. I had a Honda that had been in three accidents, and none of them showed up on the report.

Definitely the new one.

All of these prices are out the door.

Vitt said:
All of these prices are out the door.

If you’re financing, you’ll get a better interest rate on a new car. For just a $3k difference, I’d go with brand new.