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‘Today used cars can cost as much as a new one’: Expert works on Honda Odyssey. Then he weighs in—should you buy new or used?

‘You’re upside down in that vehicle immediately.’

Photo of Chad Swiatecki

Chad Swiatecki

Honda Odyssey(l) Honda Dealer Sign(c) Expert Shares information on the Honda Odyssey

“You sign on that dotted line… you’re in the hole, you’re upside down in that vehicle immediately,” says Sherwood Cooke Jr.

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We’ve come to trust pretty much every word that comes out of Cooke Jr.’s mouth when it comes to cars. So what does the owner of Royalty Auto Service in Georgia have to say about the smartest auto buy?

In a TikTok clip on the Royalty business account (@royaltyautoservice) with more than 200,000 views, Cooke Jr. advises the public to “let somebody else take the hit on the, on the depreciation,” that comes with buying a new car, which will typically see its value drop 20% in the first year.

Should you buy a Honda Odyssey new or used?

The better move is grabbing a just-returned leased vehicle or a used car with clean service records.

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Cooke Jr.’s lesson on used car economics came from questions he’d received after the recent purchase of a Honda Odyssey. He found the vehicle to be in excellent condition thanks to a rigorous check of its service history.

The sweet spot for used cars that still have a faint whiff of new car smell or aura is two to three years old with around 30,000 to 50,000 miles total. A comprehensive maintenance history indicates that the vehicle has been well cared for, which can lead to better performance and longevity. Always request and review service records before purchasing.

Time to make a deal

There’s also plenty of room to negotiate on used cars, and lots of proven tactics for how to score a great deal before you take the keys and drive off the lot. Here’s some of our favorites:

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Do Your Homework – Check prices on sites like Edmunds and Kelley Blue Book to know what the used car you want should cost before you even step onto the lot.

Get Pre-Approved – Going in with pre-approved financing from your bank or credit union helps you negotiate from a position of power.

Inspect Everything – A slick wax job can’t hide a bad history, so get a CARFAX report and even bring a mechanic to check under the hood.

Negotiate Like a Boss – Start low, focus on the total price (not just monthly payments), and never be afraid to walk away. Dealers hate to see a potential sale head for the door.

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Time it Right – End of the month, end of the year, or even during bad weather are times when dealerships get desperate and willing to budge on the sticker price.

More advice for used car buyers

Commenters on the clip had plenty of opinions on what brands to avoid or buy, along with plenty of other tips.

“If you find a used car at the dealer, make sure it was a lease return or trade in. Not one that they purchased at the auction,” one of them wrote.

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Another brought some financial knowledge. “Buy new when you can get zero or near zero percent financing vs 8 plus percent used finance rates,” they wrote.

And another hammered on the importance of getting the best warranty possible. “Dealerships are pricing used cars at new car prices these days,” the user wrote. “If you are a mechanic yourself, like these guys, yes, used is fine, but a new car warranty is a big deal.”

@royaltyautoservice Save your money and get a air freshener… 😅 #buyingacar #mechanic #mechaniclife #cartok #automotive #viral #duet #stitch #fyp #foryou #dealership #tips ♬ Pop beat BGM / long version(1283324) – nightbird_bgm

The Daily Dot reached out to Royalty via email for comment.

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