The question comes up in almost every conversation I have with first-time buyers: should I buy new or used? The answer depends almost entirely on your specific situation — but most people get talked into the wrong one because the person giving them advice has a financial interest in the outcome.
The case for buying new
New cars make sense in three specific scenarios: you're buying a model known for high depreciation (luxury brands, certain EVs), you're planning to keep it 8–10+ years, or you're accessing manufacturer financing that genuinely beats the used market rate.
The warranty argument is real. A new vehicle in BC comes with a minimum 3-year/60,000 km bumper-to-bumper warranty. For someone who doesn't want to think about maintenance surprises, that peace of mind has real value — just quantify it before you pay for it.
The case for buying used
Depreciation is real and it's steep. A new Toyota RAV4 XLE leaves the lot at around $42,000. Two years and 30,000 km later, a clean example sells for $31–33k. That $10,000 delta is someone else's problem when you buy used — and it's your gain.
In Vancouver specifically, the used market is deep enough that you can find low-kilometre, one-owner examples of almost any popular model within 30–60 days of looking.
The number that settles it
Take the new car price, subtract the 3-year residual value (use Canadian Black Book or ask me), and that's your true 3-year cost of ownership before maintenance. The difference is usually $8,000–14,000 in favour of used, depending on the model.
Not sure which makes sense for your situation? Tell me what you're considering — I'll run the actual numbers for you.