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Everyone who thinks they're smart by reading /r/personalfinance has figured this "hack" out. You're not saving much of anything by buying newish used cars unle
by throwaway0a5e 5y ago
Everyone who thinks they're smart by reading /r/personalfinance has figured this "hack" out. You're not saving much of anything by buying newish used cars unless you're buying the things that moneyed buyers flee from (Ford Foci, Chrysler 200s, other stereotypical fleet sedans from non-premium manufacturers), no a Camry/Accord do not meet these criteria.
- jjeaff 5y agoI buy 6-7 years old around with around 100k miles. A car that was $40k will sell for $15k of less. Saves so much money that I can easily put new interior, upgraded entertainment, new wheels etc and still come out way ahead. Cars made in the last 2 decades by most manufacturers tend to be very reliable, even well past the 200k miles mark. As for maintenance, just find a trustworthy Indy mechanic and never go back to a dealer again. Compared to family that always leases a new car, there really isn't much difference in repair downtime. New cars tend to have a lot of bugs to work out that have already been addressed in a well used car.
- tomcam 5y agoMy Indy mechanic is very good and very fast. Although it’s a little pricey. When I pulled in to get a new tire, he had 12 people change out all the tires. The good news is, they took less than 7.7 seconds. The bad news is, they charged me $14,000 and I still lost the race.