Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I let you folks with all the money buy new cars - I buy those cars after you have become bored with them. You pay for the depreciation, and I get a good deal.
I knew as soon as I clicked on this thread that instead of most of the replies being from people who normally purchase new cars addressing the OP's question of how often they do so, it would be full of santimonious and supercilious responses from people who think buying a new car is foolish and something that they would never, ever, do.
Ooooh....depreciation....bad......
The Frugal Living Forum is that way folks ----->>>>>
OP, let me respond to your question this way: I've purchased nothing but new cars for the past 35 years and my average length of ownership over that period of time has been between 5-6 years. The shortest period has been 3 years, and the longest I've owned a single car was 10. My most recent purchase was two years ago (2012 Jaguar XJL) and my next one will be in 2015 (F-Type), although I haven't decided whether to keep the XJL at that time as well. (The F-Type is sort of impractical as a daily driver, but I have done it before with an SLK.)
Kept my first car 7 years (someone else totalled it).
Kept my truck ten years. Plan on doing that over and over (have a new truck I bought 2 years ago).
Have a car I bought in 1999.
However, my daily driver I have been swapping out every 3 years (since 2008).
LOL. I once worked with a woman whose entire family drove Renaults. They were almost kind of exotic (the cars, not the family), especially compared to the Ford I was driving at the time.
Is there a 12-step group for that? I dunno ... I'm just getting used to a car after 1 or 2 years.
Actually, there is a story behind mine. The first one was when I was 21, and new Renaults off the showroom floor were priced at $950, and I had a '55 Plymouth to trade.
The second one was when I moved overseas and needed a car, and my father in law was a Renault dealer, and got me a great deal from the factory with a tax-free plate.
What all the depreciation talk? I don't understand. I was just looking at a 2014 Ram 1500 last weekend. It have a sticker price of $39,000. However, with rebates, I had a chance to get it at $29,900. This is a brand new crew cab with 6 miles. You can't even get the exact same truck that 2 yrs old for less than $30,000. It was cheaper for me to buy this brand new truck than buy a used one of the exact same model. Therefore, I'm not understanding all this depriciation talk and buying used. Unless you are buying a Benz or BMW, just about all car companies offer rebates. Especially toward the end of the year.
I've purchased two new cars. The first one was a piece of trash and was falling apart at eight years. I replaced it with a car which, at fourteen years and 150,000 miles, I'd still be driving if a person to whom I gave birth hadn't totaled it. I still miss that car.
What all the depreciation talk? I don't understand. I was just looking at a 2014 Ram 1500 last weekend. It have a sticker price of $39,000. However, with rebates, I had a chance to get it at $29,900. This is a brand new crew cab with 6 miles. You can't even get the exact same truck that 2 yrs old for less than $30,000. It was cheaper for me to buy this brand new truck than buy a used one of the exact same model. Therefore, I'm not understanding all this depriciation talk and buying used. Unless you are buying a Benz or BMW, just about all car companies offer rebates. Especially toward the end of the year.
Yeah, a lot of people here seem to forget that. Depreciation does happen a lot, but if you can get a deal that can beat the rate of deprecation then I'd say get it.
Normally a car loses 20% of it's value within the first year. This means for somebody who just bought it and has put some miles on it. Your average dealer though is going to sell the car at the highest possible price. Also, some cars like Hondas have a higher residual value.
The fact is it's a very complicated issue. I've been reading too many people talking about how they got such and such car for a certain amount in the 70s, 80s, etc. Those are virtual ancient times as many of the car manf. have improved. Also, nobody seem to adjust for inflation.
We must also consider that used and new car markets ''trade off'' in terms of value. In tough times, the used market skyrockets (more buyers, limited supply).
Used to buy cars all the time from 18-32 when I was single and the car's only purpose was to go out on dates, to night clubs and go to the beach etc.
Since I got married the cars only purpose is to get me from point A to point B and fit the kids and not be an embarsement.
I bought all new cars after Sandy like everyone else near me and giving every car on my block was purchased in the Fall of 2012 might not be many new car purchases for quite awhile.
BTW the second car I every purchased many many years ago I sold around 30 years ago is still on the road and gong strong. A 1967 Firebird. I know the current owner
And guess what it is faster and turns more heads than my new car.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
