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Doing some quick math the used car would have to be valued at 70% of the new car's value to make the monthly payments equal. Edit: Also going to point out that
by takingflac 10y ago
Doing some quick math the used car would have to be valued at 70% of the new car's value to make the monthly payments equal.
Edit: Also going to point out that you will lose about 10% of the new cars value just by driving it home and it will have a higher depreciation rate then the used car.
- camiller 10y agoBut the steep discounts offered, especially during the transition between model years makes it kind of work. Especially if you are looking for a used car with <40,000 miles and less than three years old. The same car, new, in the 2016 model year with a $8,000 incentive off the MSRP plus low interest...
- ethbro 10y agoI can see this being the one case where it's likely to make sense. The low-mileage used car owners purchased at a higher price or buyers will use worse financing options. The dealership has an incentive to get the old models out, and the financial backing to cut interest, resulting in their being able to sell new cars for less than a low-mileage used model.