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re: How bad of an idea is it to buy a new car?
Posted on 11/30/14 at 10:03 am to TheCaterpillar
Posted on 11/30/14 at 10:03 am to TheCaterpillar
quote:
Is it really that bad of an idea due to depreciation? I
I don't really treat cars as investments where I am highly concerned with resale value. Like someone else said, unless you plan to sell in 3 years or so, who cares.
There's also some intrinsic value in having the latest technology and reliability of a new car that's tough to quantify.
It's a personal decision without a real right or wrong IMO.
1
Posted on 11/30/14 at 12:07 pm to HurricaneDunc
My experience has been that high end luxury used cars have depreciated as a percent of value a lot more than "regular" cars.
You can get a lot more bells and whistles for the buck used rather than new.
That said we tend to buy new or barely used and drive them to 200K or more.
For example we once bought an expedition for my wife that was two years old and only had 25000 miles. Looked new detailed. We paid about $10k less than a comparable new one and never had a problem. We put 175K miles on it and I still see it around town now 5 years after we owned it.
You can get a lot more bells and whistles for the buck used rather than new.
That said we tend to buy new or barely used and drive them to 200K or more.
For example we once bought an expedition for my wife that was two years old and only had 25000 miles. Looked new detailed. We paid about $10k less than a comparable new one and never had a problem. We put 175K miles on it and I still see it around town now 5 years after we owned it.
This post was edited on 11/30/14 at 12:14 pm
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