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the used car is a gamble, at best. A few weeks ago, a woman was standing in front of her KIA on a freeway flyover, broken down, someone hit the car, and sent her plunging to her death. I wonder if it was certified pre-owned. A 20 year old Tahoe....an absolute piece of junk. Transmission? 5000. Air conditioning 3000. Tires 200 each...leaking fluids all over the place? priceless.
Yeah, the only options are "new" or "jalopy from 1998".
Quote:
Never heard Dave comment on what size houses people think they need...really dumb, and a good way to get a terrible location. Five in a bungalow would be tough...but you could easily fit in a townhouse in a much better location than a mcmansion. Average new home in the UK is 780 sf, Japan is 570..
Dave absolutely comments on the price of a home people think they need. Who cares what size it is? It's not like he recommends a sedan over an SUV, he just says "go get yourself a $3,000 vehicle" or whatever the situation calls for.
the used car is a gamble, at best. A few weeks ago, a woman was standing in front of her KIA on a freeway flyover, broken down, someone hit the car, and sent her plunging to her death. I wonder if it was certified pre-owned. A 20 year old Tahoe....an absolute piece of junk. Transmission? 5000. Air conditioning 3000. Tires 200 each...leaking fluids all over the place? priceless.
..
A. You wouldn't spend 8K repairing a 20 year old Tahoe
B. You could replace the motor and transmission and a/c for less than 5000 total (using used parts) so not sure where you could spend 5K on a transmission alone.
C. 20 yr old Tahoe would have 15 or 16 inch tires, you can buy Goodyear wranglers brand new for $95 a tire for a 97 Tahoe.
I bought this exact truck new for 18,600 5 years ago.
So how much did the used buyer save?
I've noticed very similar stuff if you are not immediately in the need for a car. Never seen that good of a deal, but I wouldn't doubt you could haggle your way to it by taking advantage of multiple rebates when a model is being changed or something like that.
The truck I wanted new was $42k, used 4 years old, with 60k miles on it they wanted $36k. 5.5 years later it has 31k miles on it
Similarly we bought a Terrain a few years ago. New we paid $24k before trade-in the exact same make and model 4 years old with 50-65k miles on it was $21k. We've owned it for 3 years now and have put 35k miles on it. I haven't noticed this 30-50% discount buying slightly used that people say exists. Maybe if you go in and try to pay sticker price for a new car that's the case, but for me it's been more in the range of 15%ish percent discount for 4ish years and 50-60k miles.
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,352 posts, read 8,576,900 times
Reputation: 16698
Quote:
Originally Posted by Hal Roach
the used car is a gamble, at best. A few weeks ago, a woman was standing in front of her KIA on a freeway flyover, broken down, someone hit the car, and sent her plunging to her death. I wonder if it was certified pre-owned. A 20 year old Tahoe....an absolute piece of junk. Transmission? 5000. Air conditioning 3000. Tires 200 each...leaking fluids all over the place? priceless.
Never heard Dave comment on what size houses people think they need...really dumb, and a good way to get a terrible location. Five in a bungalow would be tough...but you could easily fit in a townhouse in a much better location than a mcmansion. Average new home in the UK is 780 sf, Japan is 570..
Like everything you need to buy carefully. I have always bought used cars known for their reliability and cost to maintain. You can buy a new car and have it break down just as much. I have saved well over $200 k over the years in car purchases and insurance costs.
I just bought a 2014 Lexus ls460 for $31k with 54k miles. Runs like new. New it would have been $100k
I took that money I saved and will buy another rental property with cash left over that will cash flow enough to cover the payments on the 2014. In 5 years the car will be paid off and I get the cash flow.
If you,did this with just 3 cars you could have have a lifetime rental cash flow of $1500 a month.
New car that loses value quickly vs a like new solid luxury car that is reliable and $1500 a month income for life?
You can keep your new car and stereotype of what a used car is. Me, I'll just retire earlier than you.
I laugh when people tell me how rich I am driving a Lexus when in fact I spent less than they did on their fast depreciation new cars.
Like everything you need to buy carefully. I have always bought used cars known for their reliability and cost to maintain. You can buy a new car and have it break down just as much. I have saved well over $200 k over the years in car purchases and insurance costs.
I just bought a 2014 Lexus ls460 for $31k with 54k miles. Runs like new. New it would have been $100k
I took that money I saved and will buy another rental property with cash left over that will cash flow enough to cover the payments on the 2014. In 5 years the car will be paid off and I get the cash flow.
If you,did this with just 3 cars you could have have a lifetime rental cash flow of $1500 a month.
New car that loses value quickly vs a like new solid luxury car that is reliable and $1500 a month income for life?
You can keep your new car and stereotype of what a used car is. Me, I'll just retire earlier than you.
I laugh when people tell me how rich I am driving a Lexus when in fact I spent less than they did on their fast depreciation new cars.
Must depend on make and model, I just looked up my exact car on cargurus, same mileage actually too and it's listed as a great deal ($2.4k below market) at $19k and I paid just under $24k for mine 3 years ago new. Slightly used with less than 80-90k miles typically aren't going for less than 50% of cost to purchase. Now they are going for 50% less than MSRP, but I don't understand why anyone would pay near MSRP for a car. I've bought 2 cars in my lifetime and I've paid 27% below MSRP and 20% below MSRP on both purchases before trade-in.
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,352 posts, read 8,576,900 times
Reputation: 16698
Quote:
Originally Posted by mizzourah2006
Must depend on make and model, I just looked up my exact car on cargurus, same mileage actually too and it's listed as a great deal ($2.4k below market) at $19k and I paid just under $24k for mine 3 years ago new. Slightly used with less than 80-90k miles typically aren't going for less than 50% of cost to purchase. Now they are going for 50% less than MSRP, but I don't understand why anyone would pay near MSRP for a car. I've bought 2 cars in my lifetime and I've paid 27% below MSRP and 20% below MSRP on both purchases before trade-in.
It certainly does make a difference on what car you get. What car did you get?
My cousins father bought a used Prius with over 70K miles and about 3 years old for about 15 percent less then buying a new one. That didn't make any sense at all.
I bought this exact truck new for 18,600 5 years ago.
So how much did the used buyer save?
All it proves is CarMax is a ripoff, so don't buy a used car from them.
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