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Old 06-12-2017, 09:32 AM
 
1,338 posts, read 947,930 times
Reputation: 1567

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Quote:
Originally Posted by massnative71 View Post
How many people actually drive "newer" cars these days? With the insane prices they are asking, and the additional taxes and insurance; it really is a **** poor waste of money buying new. They say that the average vehicle on the road is 11+ years old now. Mine is 11.5, and will probably keep it another 2 years or so. It still runs like new, and I don't feel bad beating it around. My income is > lower middle class, however you want to dice it.

I just cancelled my DISH once the contract/ introductory rate ran out. NETFLIX, PRIME and HULU all suit me fine. I ditched the land line. Internet is $60 and StraightTalk Unlimited phone plan is $45. The money some people waste is mind boggling.
Really depends on the vehicle. You'd be slightly crazy to not buy something like a Tacoma new and flip it every 3 years, given they hold their value like gold bullion (and still rust like a Toyota) ... particularly if you can buy as an NH resident and avoid sales tax. This said, with resales driving down due to the glut of cars sold post-2012, buying used is starting to have a clear advantage again.

As I tell others, it's not what the initial purchase price which matters, it's the cost of ownership.
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Old 06-12-2017, 09:51 AM
 
7,031 posts, read 6,724,026 times
Reputation: 4709
Quote:
Originally Posted by Shrewsburried View Post
Really depends on the vehicle. You'd be slightly crazy to not buy something like a Tacoma new and flip it every 3 years, given they hold their value like gold bullion (and still rust like a Toyota) ... particularly if you can buy as an NH resident and avoid sales tax. This said, with resales driving down due to the glut of cars sold post-2012, buying used is starting to have a clear advantage again.

As I tell others, it's not what the initial purchase price which matters, it's the cost of ownership.
I haven't heard of any rust/frame issued in the post-2005 Tacomas. But personally I've found Ford to have the best combined maintenance, fuel and other ownership costs over the long run. If I was looking to trade it in in a few years, I would probably go with Toyota. But you still have to remember the additional excise tax (where I live in ME it's even worse than MA), and insurance coverage. So even with the higher resale, it just doesn't seem like you would ever come out ahead. I hate the idea of having payments for the rest of my life.
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Old 06-12-2017, 10:07 AM
 
1,390 posts, read 1,960,124 times
Reputation: 1547
Yea the cost of collision alone in on a new car is quite a wealth suck, assuming it a car the depreciates linearly. Also the amount of money that is out of the stock market that you "invest" in your depreciating auto, good value or not, should also be considered.

I personally have a 2012 Mazda 5. Love the car to death, its like a mini mini van that handles like a car, has a third row seat, sliding doors, and can fit a twin bed among other awkward things. It was so unpopular in "Merica that they stopped making them.
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Old 06-12-2017, 10:15 AM
 
994 posts, read 740,171 times
Reputation: 978
Quote:
Originally Posted by BaustinTejas View Post
My kids are in a top school district (The high school graduates routinely go to Ivy schools) here and sacrificing their education will be a deal breaker.
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Wow impressive school there, what state? Even Lexington MA, the "top" district in MA and a Harvard feeder schools sends 2/3 of the students to schools like UMass Amherst and Northeastern - fine schools but not Ivy.
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Old 06-12-2017, 10:18 AM
 
7,031 posts, read 6,724,026 times
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Quote:
Originally Posted by semiurbanite View Post
Wow impressive school there, what state? Even Lexington MA, the "top" district in MA and a Harvard feeder schools sends 2/3 of the students to schools like UMass Amherst and Northeastern - fine schools but not Ivy.
He said routinely, not necessarily majority.
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Old 06-12-2017, 10:22 AM
 
7,031 posts, read 6,724,026 times
Reputation: 4709
Quote:
Originally Posted by Boston_Burbs View Post
I personally have a 2012 Mazda 5. Love the car to death, its like a mini mini van that handles like a car, has a third row seat, sliding doors, and can fit a twin bed among other awkward things. It was so unpopular in "Merica that they stopped making them.
Probably bad timing for them to kill it too. With relatively low gas prices everyone and their mother wants a truck or SUV. But oil will be going up soon, probably. Function will start ruling over style again. Btw remember the Pontiac Vibe (ie. "Breaking Bad")? Talking about a hideous design! But a good concept.
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Old 06-12-2017, 11:15 AM
 
487 posts, read 362,049 times
Reputation: 801
Buying slightly used and letting the original owner get hosed on depreciation makes the most sense - this is a big city, there's always going to be people in a situation where they need to get rid of their car. Settle for Korean which are actually pretty decent nowadays and you can easily get an essentially new car for half the sticker price if you look around. Pay cash instead of financing and you won't get hosed having to buy the most expensive full coverage insurance, and liability-only will be much cheaper since the car isn't brand new.
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Old 06-12-2017, 11:57 AM
 
7,031 posts, read 6,724,026 times
Reputation: 4709
Quote:
Originally Posted by bigfatdude View Post
Buying slightly used and letting the original owner get hosed on depreciation makes the most sense - this is a big city, there's always going to be people in a situation where they need to get rid of their car. Settle for Korean which are actually pretty decent nowadays and you can easily get an essentially new car for half the sticker price if you look around. Pay cash instead of financing and you won't get hosed having to buy the most expensive full coverage insurance, and liability-only will be much cheaper since the car isn't brand new.
Maybe irrational, but I like to keep my collision for the first 3-5 years anyway when I still feel like there is much to lose.
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Old 06-12-2017, 05:44 PM
 
Location: North of Boston
2,945 posts, read 4,933,305 times
Reputation: 2548
This thread has strayed pretty far from the OP's original intent...
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Old 06-12-2017, 05:49 PM
 
Location: The State Line
2,207 posts, read 3,018,107 times
Reputation: 2477
Quote:
Originally Posted by bigfatdude View Post
Driving a clunker and living in a small rat trap in Quincy isn't what one would normally expect on $100k/year. As for me, I'm doing just fine on ~70k (hooray for 2008 crash and subsequent real estate giveaways,) but given today's real estate prices and ridiculous student debt load I would need 100k at the very least to replicate it had I just moved here now.
In other words, you can actually live off $100k!
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