You are the exception that proves the rule. You keep your cars so long that the instant loss of value while driving off teh lot doesn’t really affect you.
Most folks who buy new trade off every three years or so. They are always underwater on their cars and never seem to learn the lesson.
While I still think you get a better deal by buying used I don’t think you are too far off because you hold the vehicle a long time.
I’m just too cheap to take that depreciation hit. (And I’ve only been stranded once in 35 years because of a mechanical breakdown. Wheel bearing went out. The other three were still in perfect shape.)
I’m just too cheap to take that depreciation hit.
One thing that is hot around here is “salvage” cars. They touch on that issue about resale value. They are a GREAT deal for someone like me who uses a car up. I actually just got a “mint” 2006 Chevy Silverado quad cab 4x4 for ten grand. It had been salvaged about three years ago (proved its reliability). I got it because our 13 acres is a plateau that you enter from the valley below. My driveway takes up up 80’ in the first 100 yeards or so.
BTW, that Lebaron convertible I mentioned... Bought it used for $5500 with 75k miles, put another 70k or so on it and traded it for $500. I got my money’s worth. And the car was a blast.
Meanwhile we paid $31k for the 300m and put 180k on it so far. No matter how you look at it, it was not as good a deal. As someone mentioned, $10k will buy a lot of repairs. Unless you drive a BMW or Audi, that is...