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Speak for yourself.
I have purchased multiple new cars over the last 25 years, and, while they’re more expensive than a used car (although that difference is shinking all the time), I also run them for years because I can keep up with maintenance. My last new car was bought 14 years ago and is pretty much still new condition. I still even have the plastic film over the climate control screen.
I don’t care about depreciation or resale values.
EDIT: Punctuation.
This is how we know this guy is a bot, alien, psychopath or monster.
HOW THE FUCK HAVENT YOU PULLED THAT OFF?!?!?!?!?!?
Ha! 112k miles and still sticking. At this point, it’s like a streak milestone so I’m just seeing how long it goes and curious what the dealership reaction will be if I ever trade it in. Thus far no one in the service department has ever commented on it.
Would you peel it before you sell it if you ever sell it?
Like you could show it to them and peel it off...
Ooh. That’s a good question. Or do I leave it so they can put it as a feature on the car’s listing? :D
Demand an extra $3k for pristine screen with the oldest most satisfying peel off you would ever experience. Feel the 200k miles as you slowly pull it off, or let it grow to 300k for even more vintage plastic value!
You could have bought yourself a 1 year old used car and saved yourself thousands for the same outcome
That's what I did, less than half the price for a car with 10k on the odometer
Maybe. Or I could be driving a one year old lease repo that the dealer pinky promises is good as new. I’d rather actually buy new and get the warranties and protections that come with it. Thankfully thus far, I have been in the financial position to be able to do so. I’m beyond the point in my life where I want to be driving the $600 K-car to save cash. Everyone has something that they think spending the extra money is worth it, for me, it’s having a nice car that lasts.
Plus, without people like me buying new stuff, you wouldn’t have those one year old cars to buy in the first place.
See, this is where your stupidity and ignorance shines. Used cars can and do last. It's not even a gamble if you go to a reputable dealer.
The insults are not necessary. Everyone is entitled to their own opinion. I could make the same argument as you about someone spending a bunch of money on a new top shelf gaming rig instead of buying used parts on eBay.
I didn’t say used cars didn’t or can’t last. I’ve driven plenty of vehicles in my life and know how to maintain them. I’d like to buy the exact car I want, know I’ve been the only driver, and know it’s full service history and drive style over the entire life of the car, which as I said, I keep for many years. And for me, that’s worth the premium to buy new.
If you’d like to continue to buy used, have at it.
Yeah, he's an idiot.
Don't take financial advice from people who buy new cars.
You better hope there are plenty of people like him. Without someone buying new cars, there would be no used ones for you to buy.
I can say this proudly because I live in northern Ontario which basically salts our vehicles for about six months of the year. We might as well live on an ocean coast, we have so much salt on our highways. I do my own undercoating every year (it's a real pain) and I put it on thick and in every nook and cranny. The work that I do just delays the rust, it doesn't prevent it because there is just too much salt up here. Mix into that ice and snow and all that stuff just cakes on, falls off, takes away the coating, exposed metal, more salt and repeat all winter long. I'm lucky if I can hold onto a vehicle longer than ten years up here.
I’m in Minnesota and we use salt also, although in recent years it’s been a lot more brine and pre-treatments before it snows rather than just dumping rock salt out like they used to, which has helped. Used to see rust in wheel wells and such all the time, but it’s much more rare these days.
I've never seen people more mad that a stranger paid a few thousand extra amortized over 14 years.
You're an actual dumbass. New cars lose 20% of their value the moment you drive it off the lot.
Clearly. You'd rather get ripped off by the dealership.
How about you get some life experience and try buying and maintaining a used car? Then you can see for yourself how stupid your assumptions are.
If you buy a piece of equipment new and keep it for the expected lifespan of the machine, then you get to 'keep' the depreciation. Depreciation only matters if you plan on replacing the machine BEFORE the end of use life. And with things like cars, people often get rid of them long before the use life span is reached. And it's at that moment that the depreciation is a problem. I too, find it doubtful that hydrashock has kept multiple new cars long enough to personally use up the depreciation value of any one of those cars.
Example: That shiny new iPhone you bought took a depreciation hit the moment you paid for it. And when you trade it off when the next new model comes out you pay the cost of that depreciation through the trade in value. Had you kept your phone until it no longer worked before you replaced it, you would have recouped the cost of depreciation.
I used to think like you, but then my time became worth money. It's no longer such a clear cut case.
If I spent even 100 hours a year working on my car, that's now several thousand euros. More than a year's worth of lease payments on a brand new budget vehicle or (and this is my preference) a 3 year old executive car. And at the end of the lease I have the option to buy it for what's likely significantly under market value and then either keep driving it, or sell it immediately to recoup some of the depreciation.
Then consider that with the new vehicle you can get full coverage insurance which isn't even available on a 20 year old vehicle (and full coverage gives you peace of mind that if YOU fuck up or an animal fucks your car up, you get the residual value back). This occurred to me when my friend's old, around 1000 euros worth car slipped into a ditch in the winter. Its value just dropped by half and there's nothing to do about it. If it'd been their significantly newer car, it would've been a 350 euro copay to get it repaired or totalled and paid out. My car at the time was worth around 3k and if I'd totaled it by either driving into a ditch in the winter or hit a moose, I would've been out of a car and out of money. My next car after that was a lease and if something would've happened to it, insurance would've made me whole. In fact I got a brand new OEM Mercedes windscreen fitted for free, no copay since it's usually 0% for windows. That alone was worth over a year of insurance payments.
Currently I'm back to driving a shitbox. Nice car attracted gold digger, gold digger ruined finances, now I'm living as cheaply as possible. But the shitbox life is not great either - I'm going to have to either change the transmission on mine to keep it going another few years, or sell it for a loss compared to what I paid for it just 5 months ago. This is after I've already done brakes, belts and some electrical work. Sunk cost fallacy becomes way too real way too quickly on cheap used cars.
I dunno. I bought a Honda new twice. Once showed up on the city bus and negotiated them down to a nothing down & low monthly payment that I could manage for 5 years (I am an accountant and first built a spreadsheet with present value calculations to figure out my target price) car is built to last 20 at least, I paid it off easily enough, then someone ran a stop sign and absolutely smashed it to bits, I took the insurance money as a down payment and got a better car new, same low monthly, paid that off years ago and have been driving it since 2014. This was mostly possible because Honda did a zero or 1% loan both times. Used to buy beaters but this has been so much nicer, and it's easier on cash flow. I hope I can keep this one for as long as I need a car (mostly use the electric bike now) because it has all the tech I want but none of the tech I don't want. Like at this point if I won the lottery I still don't know if I'd want a car of today.
New car at today's prices, and what they are, I kind of agree with you but used cars at today's prices seem just as bad of a deal. And it was not always like this. You used to be able to negotiate, they had too much inventory.
https://en.wikipedia.org/wiki/Boots_theory