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How much less?...Value the car, value ourselves..... Posted by Mike Lynch [Email] (#81) [Profile/Gallery] (more from Mike Lynch) on Mon, 13 Jun 2005 13:48:33 In Reply to: It does depend on how much you like payments, Noel, Mon, 13 Jun 2005 07:10:07 Members do not see ads below this line. - Help Keep This Site Online - Signup |
You see that's the thing, sure you'll spend less and the sticker price of what you get will be only 1/2 of a new one, but does it really cost less? The first thing everyone who believes as you do is recommend a CPO, a 3 year old car with factory warranty. I think the only way to spend susstantially less is with a 6 year old car.
Bare with me a minute, you buy/lease a $40k car for $32k and at the end of 3 years it's worth 50% ish of the $40k list or $20k. You buy that car CPO after 3 years for $22k and it goes down to $10k at the 6 year old mark. You can slide the numbers around a couple of grand either way, but the approximate depreciation is pretty close.
Now you wanna' compare the 6 year old car for $10-12k to the new $40k ($32k actual selling price) car then I'm more in agreement, but the new car advantages become more compelling for the 6 year old vs new as in less service/maintenance issues for the new car.
Just 'cause I think rationally that new cars provide good value, doesn't mean I'm gonna' change the "perceived wisdom" of a CPO, as that's what I bought myself. Tiz a very powerful thing to get a car for almost 1/2 price, still pretty new with factory warranty and lately 2.9% financing.
I think the decision to buy new or used transcends rationality, you say you've bought new twice youself. I think the decision is made deeper, and ealier in the process and has more to do with how we value ourselves, than the car.
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