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They're not avoiding the depreciation hit if they're paying close to new prices. A 2 year old car that has only lost 10-15% of its value still has a lot of depreciation left to go! That only works when the initial depreciation curve is steeper than the latter part, which doesn't seem to be the case lately on most non-luxury utilitarian vehicles.
I know that and you know that but Dave Ramsey tells them different. Just look at all the money they're saving.
I have a buddy of mine at a local paint shop who was doing body repairs on a 2014 Mustang V6.
He told me one headlight for the mustang cost 896 dollars plus tax !
I asked him again and he said it again.
While my 1990 Suburban 4x4 Headlights brand new can cost from 10 to 20 dollars
Another thing why most cars are expensive these days is because of all the computer and other complicate stuff which you cannot operate on the cars without the dealership doing it for you which will cost more(unless you have warrenty).
New and used cars have generally gotten more expensive over the last 5-10 years or so, but not consistently. For example, family sedan prices have barely budged during that time - you can still get a very nicely-equipped Honda Accord for 21-22k, just like you could 10+ years ago. More people are buying crossovers instead of family sedans, which has helped keep their prices down.
The most ridiculous appreciation has been in the full-size truck world. My dad's 2007 Tundra, with four doors, 4x4 and the big V8, cost $23k new. $23k hardly buys anything in the truck world today - the equivalent truck would go for 35 or more.
I think the traditional Dave Ramsey advice of "buy used!" is practically obsolete, at least until the used car market corrects. With 3-year-old cars having depreciated so little, and new cars more feature-packed and safe than ever, there's little point in buying someone else's problem.
Of they can have "someone else's problem". That means they don't mind fixing it.
And as for the trucks, trucks today are expensive. A new truck can cost 40 to 60 thousand.
Even the Suburbans cost 60 to 80 thousand dollars. The Escalade is higher than that.
People, stop blaming Cash for Clunkers. That program yielded about 690,000 transactions.
In an average year in the US, about 40 million used cars change hands.
What you're missing is that it was Obama's fault. Even if it only affected .1% of the used car market, it's still the reason everyone that didn't vote for him can't find a cheap used car. That'll still be the case 20 years from now.
Exactly. Just 5 years ago a new Corolla LE went for high 16s. Now they're $19k.
Besides just normal cars(which really isn't that bad), pick up trucks are EXPENSIVE!!!
$40k for a Silverado extended cab LT 4WD or F150 with similar specs. $30k for a base model single cab RWD pickup.
How exactly are you gonna buy a pick up truck if you make $30k a year?
This is one of the reasons why I rather stick with old but build it up and be better than the new . At a fraction of the cost than buying a used but new truck at a higher price.
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