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Message
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Posted on 10/20/13 at 8:25 pm to Chad504boy
quote:
Getting a new car is never a smart financial decision
This. And you getting a good deal on the car shouldn't factor into this at all. I could understand if you could get the same deal on a 2013 and sell yours for 21.5k but that's not the situation.
Posted on 10/21/13 at 10:59 pm to Chad504boy
quote:
Getting a new car is never a smart financial decision
This is nearly always correct, the only exception is if you plan to drive it until it turns into dust. Then you may get full value.
You will never get full value out of a resale though, nearly all used vehicles are priced as though they have something wrong with them. There's actually a very influential academic paper showing why that got a Nobel Prize ( The Market for Lemons) believe it or not. It's important for the current healthcare debate as well.
But I digress. If you're going to drive your vehicle into the ground and keep it up accordingly, then buying something new can work out. If you're going to sell the vehicle before then you will pay a high price for doing so.
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