boltonblue

The transition from new to used is brutal.

A used car is still a used car. one owner to two owner is no big deal.
but it's only new once.

dlq04

In the example that would be 27% in the first year! Holly $hit; and I am planning to buy a new SUV.

The CR-V I am thinking about was totally new in 2017, and that's the one we like. They did offer me 6% off on the last one in the lot but it wasn't the color/trim package we want. Plus I was really hoping they would come out with a larger engine in the 2018 but they did not; in fact, as near as I can tell they did not make a single change except to raise the price a few hundred. I still would not mind taking the hit if they came out with a mid-year upgrade to a 2.0L turbo, like they are going to start putting in the Accord in November.

Jet sitter

Good find Gene, it is certainly an eye opener. BTW, the banker was driving a 6 year old Toyota. I guess he has seen many people, like Lainey said, upside down on car loans.

Lovetodrive2000

All depends what you want in a car, and how long you plan on keeping it....

I'll hang onto cars 8-10 years normally.... so the depreciation doesn't matter to me.... and I know how the car has been treated from day one.

'13 Genesis Coupe 3.8 has 160k miles and runs like new....

'00 S2000 at 156k miles and having an engine issue... blowing smoke after engine braking.... time to replace the valve guides?

boltonblue

I think I have only ever traded one vehicle and that was because at 40k miles it was having lifter issues and about to go out of warranty.
the rest I've driven to the grave. Although I've gotten away from buying new.
With CPO I can get a car with 30K miles for a third to half of the original price

Lovetodrive2000

But you don't get the new car smell at 30k miles!

dlq04

As we all know the loss on a new car really sucks, but if its the one you want it is worth it. I bought the S2000 new in 2001 and never looked back. Money well spent. The wife's Subaru was new in 2008 and now has 100k. Money well spent. I totally see the other side as well, bought a two year old Audi and saved a lot of money and its was issue free for nearly 10 years. Money well spent.

Like some of you when I find a good car I really like 10 years is no big deal. Heck 20 isn't (my truck). Heck almost 60 isn't (my MG).

gerry100

The boss and I both like nice reliable driving machines and have a few but , being retired, don't have many places to go and only drive about 14K miles per year.

Therefore, our biggest cost on a newer vehicle is depreciation and our fleet strategy is based on minimizing it.

The S2000 has bottomed out at around what I paid in '10, the aircooled 911 is appreciating.

The FJ Cruiser,(long driveway in snowbelt) is the least depreciating snow hammer you can get. Probably could trade for nearly what we paid but we're keeping for a while

Our mule is a '15 BMW 335xi that we bought CPO after it depreciated 30% from sticker in 25K miles, we'll still pay some depreciation but it's minimized for a fancy German car.

MsPerky

^ Gerry - what state do you live in?

NNY S2k

Gerry is in NY near Albany.
Levi