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The whole point is that this is easier said than done. Yes, cars depreciate rapidly in the first two years, which is why people who own quality non-lemons that
by geebee 12y ago
The whole point is that this is easier said than done. Yes, cars depreciate rapidly in the first two years, which is why people who own quality non-lemons that are less the 2 years old are generally very reluctant to sell them.
If you can find one, that's great, but the deprecation to me has always had more meaning as a reality check for a seller than an opportunity that can be easily obtained as a buyer.
For instance, you often hear that a new car loses "10%" (probably more) of its resale value the moment you drive it off the lot. Yes, if you try to sell your car the moment you drive it off the lot, you will lose 10% or more.
But go out there and try to buy a car for 90% of what someone just paid for it as they drive it off the lot!
- smackfu 12y agoYes, I do not know where people imagine that this supply of 1-2 year old cars comes from. The ones that do exist are mainly from rental fleets, with 30k of miles per year. Not exactly a winner of a car there.
- lafar6502 12y agowell, 60k miles in a 2 year old car is not that much. Still lots of miles to go before you hit a million.
- michaelbuddy 12y ago60k miles in 2 years is twice the avg of a work commuter in the U.S. Not that much in that theres plenty of life but it was driven a lot though and you're a lot closer to the recommended repairs
- mzs 12y agoMost leases are 2-3 years long and are then sold as CPO. 30-40% discount is typical with extended warranty and decent financing. That's a good source of lightly used heavily depreciated well maintained cars for those lucky like us. But that's not what this article was about really.