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Message
Would a new or preowned car be a better investment?
Posted on 1/12/25 at 4:41 pm
Posted on 1/12/25 at 4:41 pm
And why are the interest rates high?
I probably drive 20-25k miles a year. I would need an suv or truck since my house is on a slight hill.
I’ve had Honda’s and Toyota for the past 10-15 years and those have been great. But I’m open to a bmw or vw
I probably drive 20-25k miles a year. I would need an suv or truck since my house is on a slight hill.
I’ve had Honda’s and Toyota for the past 10-15 years and those have been great. But I’m open to a bmw or vw
13
Posted on 1/12/25 at 4:43 pm to lsucoonass
Interest rates have been the same for about 5 years now. "inflation" is real.
buy you a 5-6 year old CRV all wheel drive and call it a day.
Those are a dime a dozen in the 12-15K range.
buy you a 5-6 year old CRV all wheel drive and call it a day.
Those are a dime a dozen in the 12-15K range.
Posted on 1/12/25 at 4:44 pm to lsucoonass
quote:
I would need an suv or truck since my house is on a slight hill.
Posted on 1/12/25 at 4:46 pm to lsucoonass
Your car is not an “investment”.
I think buying preowned vehicles are better financially in the long run.
I think buying preowned vehicles are better financially in the long run.
Posted on 1/12/25 at 4:59 pm to lsucoonass
quote:
I probably drive 20-25k miles a year.
quote:
I’ve had Honda’s and Toyota for the past 10-15 years and those have been great.
quote:
But I’m open to a bmw or vw
What a thread lol
Posted on 1/12/25 at 5:20 pm to lsucoonass
I’m in my car probably at least 4 hours a day so I view it as a different kind of investment. I want something nice since I spend a lot of time behind the wheel. I always buy new, drive for at least five years and don’t worry about the depreciation
Posted on 1/12/25 at 5:21 pm to lsucoonass
quote:
investment
Not really a thing if you aren't an Uber driver.
Having said that - you know you - are you willing to squeeze every last mile out of the car? Drive it until it is expended as an appliance? Or, will you get antsy in 4 or 5 years and want to drive something "new"?
If the former, you can afford to buy new (within your budget of course) and then do 100% of the maintenance until the car is expended. That could be 15, 18 years or longer (likely will be at least 12 to 15). If that could be you, just don't overspend today.
If the latter, you want a car fresh off a lease, 36 months and around 36k miles. That is the sweet spot. You will eat some depreciation, but a good chunk of it was absorbed by the "new" buyer. As the second owner, you will get the benefit of the lower entry price, reduced depreciation, while still driving a vehicle that should have minimal maintenance demands.
Happy hunting!
Posted on 1/12/25 at 5:23 pm to Joshjrn
Good catch Josh.
Posted on 1/12/25 at 5:44 pm to lsucoonass
Buy cheap and invest or save to invest the rest. Cars are largely a waste of money (just my opinion, as I’m more interested in building wealth)
And it’s certainly not an investment.
And it’s certainly not an investment.
Posted on 1/12/25 at 6:05 pm to lsucoonass
Buy used, drive forever is the only advice you will ever get here because we are a bunch of tightwads... myself being a big one
Posted on 1/12/25 at 9:11 pm to lsucoonass
Buy new, perform regular maintenance, drive until it completely dies as a car note will generally be more expensive than repairing.
Posted on 1/12/25 at 9:39 pm to lsucoonass
My truck is 20 years old. When it dies, I'll buy a new one. Regular maintenance has extended its life and saved me a ton of cash and allowed me to invest. I have no clue how a used car was maintained before I bought it.
Posted on 1/12/25 at 9:49 pm to JohnnyKilroy
frick off
Posted on 1/12/25 at 9:49 pm to Tifway419
Everything is an investment
Posted on 1/13/25 at 4:27 am to lsucoonass
Pricing for used cars is skewed because the big companies buy all the good vehicles at auction.
They make their money on loans now.
The delta between new and used is not much.
If you need a different car, buying a new one probably makes more sense for most people.
I consider my car a depreciating asset.
It gets me from point A to point B. I don't consider it an “investment.”
They make their money on loans now.
The delta between new and used is not much.
If you need a different car, buying a new one probably makes more sense for most people.
I consider my car a depreciating asset.
It gets me from point A to point B. I don't consider it an “investment.”
Posted on 1/13/25 at 5:22 am to lsucoonass
Leasing is the only option to protect you against depreciation, due to excessive annual milage. Structure the lease for 25K miles annually.
Lease or rent depreciating items, own appreciating assets. GL
Lease or rent depreciating items, own appreciating assets. GL
Posted on 1/13/25 at 6:06 am to AncientTiger
quote:
EVERY SINGLE ONE OF YOU LOSERS HAVE THE MATURITY LEVEL OF A 5 YEAR OLD. NOTHING BUT NEGATIVE. THE GREATEST INVENTORS OF OUR COUNTRY FOUGHT THREW THE SAME BS YOU GUYS SPREW TODAY. THE AT ARMY WILL NOT FAIL....WE WILL DANCE WHILE THROWING CASH FROM OUR LAMBO'S VERY SOON. SUCH JEALOUSY IS HILARIOUS....
Posted on 1/13/25 at 6:20 am to AncientTiger
What stocks should he invest in? You got some new winners or we still riding with the four rockets?
Posted on 1/13/25 at 7:37 am to The Silverback
Then explain how to build wealth since you’re so smart and condescending
Posted on 1/13/25 at 7:38 am to basiletiger
Then why are the articles that I’ve read indicate otherwise
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