Quote:
Originally Posted by Partial
I was just thinking about efficient ways to purchase cars today.
How do you guys feel about buying a three year old car, keeping it three years, selling it, repeat?
It seems like a good idea because you'll avoid maintenance costs, always getting newer technology as gas efficiency improves, avoiding the mark-up of a new car, etc.
It seems like a good plan. What do you older, more experienced folk thing?
I don't consider myself an expert at all here, but I always buy used. Remember that dealers typically take a huge markup for used auto's if you do not do your homework. Markups can be 3G to 8G; these are money makers for dealers. So personally I don't like the every three year plan; but I could be wrong.
I try to get a bang for your buck auto, and then drive it to it's grave or until I start seeing major issues.
My best car up to this point was a 95 GEO Prizm. Bought it from a friend for 8500 when it was one year old; Kelly Blue book indicated that wholesale price should have been a full grand more. But the dealer offered them that price for a trade in and they offered it to us for exact same.
It had 42,000 miles. Was a bright green car; wife and normally everybody hated the color. Called it the Green Bean. The Bean lasted to 235,000 miles with nothing but normal upkeep. Then it died hard 10 years later (last year). Those Honda engines are awesome. I wish all my cars could perform like the Bean.
Great Auto, and I could only hope to have the same longevity out of other auto's.
Going back to RG or SC, the value of cars go down. So go cost effective. Too many have to get that glory car with that $500-$600 monthly payment. Worst decision one can make IMO.