this post was submitted on 28 Nov 2025
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Late Stage Capitalism
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It only works if you paid for the very first new vehicle in cash. Save up for 2 years and cash out the subsequent vehicles as well. Then the numbers pencil out.
If you to take a loan out it's fucking stupid.
After 2 years at 10k miles per year, historically you have lost 20% or so of the value of the car. With a 5 year loan you have paid the principle down to around 63-64% of the original value.
This means you can trade in the car for more than what you owe on the loan. The difference is a partial or total down payment on a new vehicle.
Lenders strongly encourage this behavior. Due to the amortization schedule 2/3rds of the interest is paid during the first 2 years. So people who do this with loans are always paying the highest intereston their vehicle.
The best thing to do finacially is to buy a car with 20-30k then run it for as long as possible. Once the cost of a common major repair is more than the value of the car, get another low mileage used one.