new vs. used vs. cpo

eman and i have been talking about buying a new car to replace my BELOVED '95 nissan sentra. [sniff sniff] so many memories with that car. i was so happy and proud when i bought it. i only put $3000 down, and then financed the rest. i had no idea what i was doing back then, all i knew was that i wanted a new car...one that nobody had driven before...one that had that new car smell...one i could claim as mine, ALL MINE! =D but as i'm researching cars now, i'm realizing how unpractical a brand new car can be. of course, i'd love a new car...who wouldn't? but i'm leaning towards purchasing a used car instead. i'd feel more comfortable buying one of those coz, well, i dunno...buying new just doesn't mean so much to me anymore. actually, certified pre-owned seems to make more sense. and i'd want a shorter loan...maybe 3 or 4 years. it's just so nice not to have car payments! i mean, one of the reasons i love my current car is that it's PAID OFF!!! you know what i mean?? i LOVE that i don't have car payments right now. the thought of taking one on again just leaves a bad taste in my mouth. but i know that i need to replace my baby. =( if i end up buying new, it'll probably be in the fall, when the newer models come in and the "old" ones are put on clearance. but if i decide to buy cpo, i guess i could buy one this summer? since there's no real "season" for those? i'm thinking of a black toyota solara...it's reliable, has pretty good resale value, and it's kinda sporty-chic. what do you think?