Quote:
Originally Posted by Jedi Ninja
I would never buy a Ford new. However, the upside of the steep depreciation is that you can get a sweet deal on a 1-2 year old Ford. This option probably represents the lowest total lifecycle cost of ownership option as opposed to buying any other vehicle type either new or used.
I would never buy a Honda used. The asking prices on 1-2 year old Hondas is laughable, and when I purchased my current vehicle (a Honda) I calculated the cost of buying new was actually lower than used due to the low rate financing promotion that they were offering on new vehicles. That's not even factoring in the extra year of remaining warranty.
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Yeah I've done the same research. A used Toyota minivan in Canada was more expensive than the new one with more options I bought in the States. Japanese vehicles tend to hold their value quite well, particularly when they're still fairly new.
I also own a Chrysler (still can't believe I do as I was raised in an anti-Chrysler houeshold lol). It's a model that some dude paid $55,000 for in 2005 that I paid $17,000 for in 2008 with 56,000 kms. The depreciation on domestics is insane...you should think long and hard before buying one new IMO. Used? That's a different story. You can find tremendous deals.