Most people say, "buy a one year old car and save $2,000 to $3,000". Figure this: New Price $30,000 useful life in miles 150,000, cost per mile $.20 ($30,000/150,000 miles). A one year old car with 20,000 miles, on a milage basis has depreciated $4,000. Why not buy new get the best miles and know about the maintenance.
2006-07-29 09:37:30 · 11 answers · asked by Ned 3 in Cars & Transportation ➔ Buying & Selling
Ned...Your math is wrong. Here is the deal...Your math is correct if you figure that mile 1 is worth the same as mile 150,000. However, we both know that it is not. The early miles are alot more valuable because the car is Newer, Nicer, and less likely to break requiring maintenance/repair. Because of this, the first 4 years of a cars life it loses over 50% of its value...then the rate of depreciation slows down.
Picture the Depreciation like the first hill on a Roller Coaster...The time at the dealership is the climb up the hill...once you drive out of the lot you fall rapidly...then as you get towards the bottom of the hill it starts to level out a bit.
I will use my own car as an example. It is a 98 Escort Wagon. I purchased this car in 05 for $2,000. In 98 it cost about 14,500. by 2000 it was only worth about 8,000...by 02 about 5,000 and now it is near the bottom...I will drive this car for about 5 years and it will be worth about $750.00 when I sell it.
So...if you want to drive the best miles for the fewest dollars you should buy cars when they are 4 years old and sell them at about 7 yrs old. This puts you into cars that are between 40,000-85,000 miles. Still fairly new, and very reliable but avoiding that Terrifying fall in value the first few years.
In a 30,000 vehicle the first 20,000 miles actually depreciate between .50-.80 per mile depending on vehicle.
Also, most vehicles today easily last over 200,000 miles if properly maintained. My Escort has 136,000 miles and still looks good, runs great, and averages between 36-40mpg! Great Question!
2006-07-29 10:11:50 · answer #1 · answered by FreedomLover 5 · 1⤊ 0⤋
Depends, if it was me and I was buying used I'd go for the classics, from the 60's and 70's. Why you may wonder is because they were built tough, not this fiberglass you see on newer cars today, and I love the sporty look, such as the 68 or 69 Camaro SS. If I was buying new I'd have to go with the Dodge Charger or the new Mustang's. Everybody has their own opinion but you'll be the one in the end to have to decide whats right for you.
2006-07-29 12:33:20 · answer #2 · answered by RuneDragon 3 · 0⤊ 0⤋
somewhat extra desirable than you may pay in a good self sufficient storage yet please undergo this in recommendations. A provider would be common at a collection value. it won't contain the areas that would placed on on the brakes to illustrate or many different areas which will probably decide for doing before an MOT bypass could be gained.those would be charged extra if required and permitted via you. If the motor vehicle is due for a provider then, super, get it executed someplace yet do no longer anticipate it to be a scientific care all to get it contained in the direction of the MOT try as theres lots of stuff basically inspected and not altered via a provider and a good deal extra stuff regarded at via an MOT examiner that's no longer dealt with on a common provider that's what the KF quote is for.
2016-11-03 06:36:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If you can afford a new car, get one... then you are not buying someone else's problems. Even if it's a reputable dealer, a used car could have undiagnosed problems that will pop up sooner than with a new car.
2006-07-29 09:46:21 · answer #4 · answered by Rogue Scrapbooker 6 · 0⤊ 0⤋
Buy used at least a yr old. Becaus ethink of it this way EVERYONE drives a used car plus most warranties are transferable and if you buy it from a dealer you can also buy a extended warranty for it
2006-07-29 10:02:51 · answer #5 · answered by William M 2 · 0⤊ 0⤋
Used. When you leave the lot you have lost all the fees and the taxes.
Also used cars usually let you negotiate the price and you can get cheaper cars.
2006-07-29 09:59:46 · answer #6 · answered by wazup1971 6 · 0⤊ 0⤋
a new car is better because, new is betta than old
plus it ensures you get your moneys worth for what kind of car you buy
2006-07-29 10:27:34 · answer #7 · answered by speed2go_dh 1 · 0⤊ 0⤋
Treat your self well.
Buy a new car.
2006-07-29 09:41:22 · answer #8 · answered by r_e_a_l_miles 4 · 0⤊ 0⤋
i think new is better cuz used has like scratches on it and new dont
2006-07-29 09:40:49 · answer #9 · answered by Farhana M 2 · 0⤊ 0⤋
NEW CAR! ^ ^ Less maintainance...
2006-07-29 09:41:47 · answer #10 · answered by Nelle 2 · 0⤊ 0⤋