/biz/ - Business & Finance

>>54652689
if those are your only two options, then $15k car. this is assuming it's a normal car (3-5 years old with <75k miles) and not some niggerlicious cope like buying a 15 year old sports car or luxury car that was beat to shit by 10 different puerto rican owners and redlined on a daily basis.

generally the worst case scenario on an everyday car is the transmission or engine blows the fuck up. junkyard swap can fix that for <$5k.

>>54652709
That 15k car would be at least 10 years old with a minimum of 100k miles before tax. And that assumes you’re getting a hell of a deal unless you’re buying a rusted out or wrecked piece of shit

>>54652766
This, its literally impossible getting a good deal on a used car. In pre covid times I hands down would have bought the used car as you could get really good deals. Things are in a super awkward state right now and they haven't gotten better. So tired of the situation that I'm probably just going to buy new.

>>54652689
wait for lower APR end of year and get a long ass credit, your debt will be worthless in 1 year tops.

Isn’t there a saying “when you buy a used car, you’re buying someone else’s problem.”

>>54652766
i was going to call you retarded (i haven't bought a car in 6 years) but damn, you're right. you can find kia and hyundai sedans ~5 years old with <$75k miles for <$15k but not much else. what the hell did jews do the used car market?

>>54652814
Exactly, shits fucked. You'd think the market would have corrected itself as people would flock to base model Toyotas, Subaru etc.

>>54652814
during high inflation times owning any kind of property is a way to protect your capital.Classic phone models, consoles, CS GO Skins, Pokermon cards, videogames, and so on also skyrocketed. Any kind of asset is a better hold than fiat currencies.

>>54652791
>>54652814
Personally if this shit keeps up my next car will be new. I would rather overpay by 20% on a new car than overpay by at least 100% on a used car

>>54652828
New Toyotas have an average wait time of 8 months from sale to delivery. Even less desirable brands like Kia have 3-4 month wait times on a majority of their new vehicles hence the absolutely insane used car market

>>54652839
A car is a depreciating asset though

>>54652689
You basically weigh the increased depreciation of the newer car with the increased servicing costs of the older car. You also have a bit extra for insurance for the newer car, but the newer car will be a little bit more fuel efficient. Depending on the relative ages of the cars and the relative prices, as well as the time you intend to hold the car, it may work out cheaper to buy the newer car. Some brands and models have less depreciation than others, so take that into account too. My sense is for the new car to be cheaper, it should be no more than about $10-12k more than the old car, and the old car should be about 8 years old or older.

>>54652689
I purchased a new vehicle in 2009, still have it.

>>54652803
Maybe for boats, a majority of people sell their cars because they fall for marketing and think a new car will improve their lives.

Used cars are never going down in price btw, they'll become more desirable than every model built after 2025. https://www.usatoday.com/story/money/cars/2021/11/10/congress-cars-drunk-driving-dui-drunken-driving/6367473001/

You buy it about 3 years used with low miles, it's been through its biggest depreciation slide but still has tons of life in it

>>54653827
This

>>54653827
Since late 2020 those cars have actually cost more than brand new cars due to no waiting time anon. In some cases used cars have sold for 40-50% more than their new counterparts

>>54652689
Boomer here. I buy new cars, but keep them 10 - 15 years.

>>54652689
I bought a used X3 with 50k miles on it and the thing was FUCKED. I don't think they even changed the oil once.

>>54652879
So is cash.