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This hasn't been mentioned -- look closely at the total vehicle cost. Price of purchase + maintenance + fuel + insurance = total vehicle cost.
I drive a pickup truck that runs on natural gas. I bought it from the city of North Las Vegas for $4K. It had 60K on the odometer and is likely to be good for 400,000 miles. CNG is running around $2/gallon (it's sold by weight but that's the equivalent cost). No smog check. No lane restrictions. Insurance is dirt cheap. AND NO FREAKIN' OPEC.
The only downside is the lack of filling stations. But there are four to choose from here in Las Vegas. It's the best commuter I have ever owned, and it's a functional truck. I haul stuff all the time.
I would never, ever buy a new vehicle. I was not put on this earth to give free money to car salesmen. Let the crowd take care of that instead.
If you rent/pay mortgage, you're giving free money away.
If you pay any utilites, you're giving away free money
If you have a credit card or bank account, you're giving away free money.
Go out 10 years and what is the value difference in a 10 compared to 12 year old vehicle? At that point, for either of them, depreciation is a wash.
You're going the wrong direction. Your difference comes at the beginning with the cost difference between brand new and two years used. That's the part you actually paid, afterall. There's nothing theoretical about it.
If you want new, that's fine. There're a lot of things most of us buy that aren't necessarily financially practical. But you *are* paying for the depreciation, no matter how long you keep it.
If you rent/pay mortgage, you're giving free money away.
If you pay any utilites, you're giving away free money
If you have a credit card or bank account, you're giving away free money.
Etc..
I collect rent. I don't pay a mortgage. And in exchange for my utility money, I get electricity and water and natural gas. (One of which is necessary for survival. The other two are super-duper convenient for living in the 21st century.)
I don't see what ANY of the above has to do with paying the commissions and the initial depreciation on a new vehicle. Personally, I like my strategy of buying fleet vehicles as necessary -- they're well maintained, and they're very inexpensive.
I could drive to any car dealership in town and buy a new car. The fact that I won't is the reason that I can. Interest is for earning, not for paying.
I could drive to any car dealership in town and buy a new car. The fact that I won't is the reason that I can. Interest is for earning, not for paying.
So what's your position on 0% financing, or buying outright with cash? In either case you're not paying interest.
Anda again, many of us don't look at cars as appliances that are interchangeable and only come in vanilla flavors, thus won't buy ex-fleet cars or the cheapest deal on a car just to say we have a car. When I buy a car it's because I want that particular car, be it used or new, be it bought outright with cash, financed or leased. Sometimes it's about getting the best deal on car/truck I already want, sometimes it's simply about paying the going rate for a car I want.
Buy what you like, in the manner in which you want to buy it. But quit going around saying every other way is automatically bad and acting all superior for having chosen your particular way.
Anda again, many of us don't look at cars as appliances that are interchangeable and only come in vanilla flavors, thus won't buy ex-fleet cars or the cheapest deal on a car just to say we have a car. When I buy a car it's because I want that particular car, be it used or new, be it bought outright with cash, financed or leased. Sometimes it's about getting the best deal on car/truck I already want, sometimes it's simply about paying the going rate for a car I want
And of course, people can get every option theywant on *used* cars, too. You don't have to settle for "vanilla" just because you didn't order it out of the factory.
It might take a bit more patience to find it, maybe even driving out of town, but I guarantee it's out there.
I collect rent. I don't pay a mortgage. And in exchange for my utility money, I get electricity and water and natural gas. (One of which is necessary for survival. The other two are super-duper convenient for living in the 21st century.)
I don't see what ANY of the above has to do with paying the commissions and the initial depreciation on a new vehicle. Personally, I like my strategy of buying fleet vehicles as necessary -- they're well maintained, and they're very inexpensive.
I could drive to any car dealership in town and buy a new car. The fact that I won't is the reason that I can. Interest is for earning, not for paying.
Both of which someone is making money off of you just like a car salesman would.
Do you pay a cell phone bill monthly? How about cable tv? Do you buy clothing, food, medicine? There isn't anything in this world you can buy without someone making a profit off of you.
And of course, people can get every option theywant on *used* cars, too. You don't have to settle for "vanilla" just because you didn't order it out of the factory.
It might take a bit more patience to find it, maybe even driving out of town, but I guarantee it's out there.
It isn't just about the "options." It's about the CAR YOU WANT. But it CAN be about the options. As I said about the 2013 Volt I leased. I wanted the new one, not the used ones, because the new one had better features and slightly better looks to me. And there weren't any other used cars that matched it. We wanted the new MINI because the previous MINI wasn't as good, so buying a used one wasn't what we wanted (we had just had the previous gen version).
I love the Hellcat Challenger. If I were to buy one, it would have to be a new one because there aren't any used cars that match it. And I don't want them anyhow. I love the Fiat Abarths. If I were to buy one, it would be brand new due to incentives on new ones, and the fact that so many of them are bought and abused due to being fun cars, so I'd only want a new one that hasn't yet been abused by anyone. *I* want to be the one to abuse it. lol!
OTOH there are some cars that I'd ONLY buy used, because they are only available that way. I want a 2001 BMW 740i Sport in Stratus grey with the black interior. I don't want any 7 series newer than that model year, and I've already had an older one, so I want a particular car. I also want an '03-05 Jaguar XKR convertible in black with either a black or cream interior. I want the 4.2 liter version of the car with the factory Brembo brakes, which limits it to those years. I don't like the looks of the newer XKs vs the '98-05s, as that era reminds me of the E type and still looks expensive even today.
This is an automotive board. I would like to think many of us are here because we take an interest in automobiles and think of it as a hobby. Sure some other are here just for knowledge and tips/tricks.
That being said most of us have to drive to work. We all probably average anywhere from 1 to 2 to 3 hours a day in our vehicles 5 days a week. And some more on the weekends.
If I'm spending that much time with a car I want to make sure it's one I want to get in and drive everyday. And maybe I don't want to deal with someone else's problem (not saying all used cars fit here) or want a full warranty.
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