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You lose all of that and more on depreciation in the first two years. I buy older than most people; currently my newest car is a 2009. I do maintenance and rou
by throwawayboise 6y ago
You lose all of that and more on depreciation in the first two years.
I buy older than most people; currently my newest car is a 2009. I do maintenance and routine repairs myself, and I lose almost nothing on depreciation. But you can still come out ahead by buying 4-6 years old and letting the original buyers take the bulk of the depreciation losses.
- stjohnswarts 6y agoFor me the sweet spot has been 5 years old and < 60K miles, usually cars with that description haven't been run into the ground. Currently driving a mustang with 200K miles on it and it still runs like a sewing machine. It's harder now though, pandemic has really driven up used car prices, makes more sense to buy new currently, especially if you're getting something like a honda or toyota that holds value.
- daniellarusso 6y agoNot anymore. Car market is a bit strange right now. Check the price on your 2009 on eBay or craiglist. Is it worth more than you think it should be?
- underwater 6y agoI don't think this is a blanket rule. Sometimes 2-4 year old cars can be the same price as a new car. This seemed to happen after the GFC crash.