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re: $100,000 income: No big deal anymore
Posted on 7/26/17 at 2:42 pm to THRILLHO
Posted on 7/26/17 at 2:42 pm to THRILLHO
quote:
That's what I've always figured, but when I was looking for a new Civic last year, there wasn't really that big of a difference in the cost between new and 1 or 2 year old models. I guess that's one of the downsides of a vehicle with a high resale value
It's because that line of thinking is bullshite, which it looks like you found out. You have it backwards though, the high resale will always be there, every year it depreciates it will be worth more relative to the same class of vehicles. The upside is that it is always worth more.
Now, there are some vehicles that "depreciate" a ton when you drive them off the lot new, but hose vehicles were likely sold wig heavy incentives that make them effectively cheaper than the well selling brands.
If you have the means, and are looking for a vehicle that is a class leader in resale, it is not a bad decision to look at buying new. There is always value in knowing you are the only one who has ever driven that vehicle.
Bottom line is it depends entirely on the vehicle.
When buying a vehicle, decision tree should be class>brand/model> new/used (expected life)>everything else like color, options etc.
Posted on 7/26/17 at 2:48 pm to yellowfin
quote:
My truck is over 3 years old and I still haven't lost 30% of the value
Exactly. Most trucks are very high resale.
I mean seriously, if that line of bullshite were true, who on earth would buy a new vehicle when they could get one with 1 mile on the odo for 70% of the cost. It's just flat out untrue.
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