> IMO, buying an economic new car and then keeping for most of the vehicles lifetime is close to optimal. It sounds like you're adding the time searching, etc

> IMO, buying an economic new car and then keeping for most of the vehicles lifetime is close to optimal. It sounds like you're adding the time searching, etc to your model (which is fine). From a purely financial perspective, I do wonder. I think the key phrase is "keeping it for most of the vehicle's lifetime". If I look at the used cars I've bought, the total I've paid is $17000 in today's dollars over the last 19 years.[1] If you throw in various repairs, it adds a few thousand more (I'm too lazy to look up the actual numbers, but you can find it if you dig deep in my comment history). And that number includes routine maintenance everyone has to do (oil changes, replace brakes, etc). A comparable new car today would cost more, but you get the benefit of having a modern car instead of old cars that I've driven. The down side is you're stuck with that car for a long time, whereas you can keep getting newer model used card every so many years. [1] I didn't get lucky or find fantastic deals. These numbers are representative if you follow a few simple rules of used car buying.